Could Bitcoin ever replace conventional money? - page 31.

Diced90

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Quote from: fathur.aza on May 23, 2017, 11:55:49 PM

I think it is impossible to replace with conventional money, even the government alone is not possible to allow it.

Our governments can never allow this to happen that is why in some countries bitcoin has not be legalized because the see bitcoin
as a threat which can replace conventional money and lead to the collapse of the systems used to regulate cash flows.

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Quote from: Vikingr on May 24, 2017, 04:51:48 PM

Quote from: fathur.aza on May 23, 2017, 11:55:49 PM

I think it is impossible to replace with conventional money, even the government alone is not possible to allow it.

the government of Japan allow to use bitcoin so if they find the benefit of it then they will announce to use only bitcoin for the state which can happen in other countries too. They will then love bitcoin and will allow their citizens to use bitcoin only and they will support this currency.

Some business in Japan like to get in with the trends and they are trying to use Digital technology to pay for things online and offline. If people would want to purchase something without a wallet then they could just scan something in order to receive whatever it is that they want. Bitcoin will advance the progress of that technology.

TechnoMusic

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Up-down up-down down-up down-up just like in sex looks like a really risky and deeply hard to control so it is not good at all.Better we should use own value and that is it.

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Quote from: fathur.aza on May 23, 2017, 11:55:49 PM

I think it is impossible to replace with conventional money, even the government alone is not possible to allow it.

the government of Japan allow to use bitcoin so if they find the benefit of it then they will announce to use only bitcoin for the state which can happen in other countries too. They will then love bitcoin and will allow their citizens to use bitcoin only and they will support this currency.

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Quote from: poplolnman on May 24, 2017, 02:56:05 PM

Quote from: iqlimasyadiqa on May 24, 2017, 09:47:31 AM

I am very sure bitcoin can replace conventional currency today. Now already seen some bitcoin advantages compared to other financial media. Maybe we just need to wait until the time can be controlled bitcoin. I predicted bitcoin would take about 5 years to expand its network in this world.

i really doubt about how bitcoin could replace any fiat currency now or later , both should be there together rather than replace each other. it would just hurt the current world economics. also with the high price compared to any other currency ever exist it would make people scared. unless there's a guarantee from government.

I agree, bitcoin is best as alternative currency not as main or primary currency of a certain nation. Aside from that I am sure no government will acknowledge bitcoin as their primary currency because they do not have control over it.

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Quote from: iqlimasyadiqa on May 24, 2017, 09:47:31 AM

I am very sure bitcoin can replace conventional currency today. Now already seen some bitcoin advantages compared to other financial media. Maybe we just need to wait until the time can be controlled bitcoin. I predicted bitcoin would take about 5 years to expand its network in this world.

i really doubt about how bitcoin could replace any fiat currency now or later , both should be there together rather than replace each other. it would just hurt the current world economics. also with the high price compared to any other currency ever exist it would make people scared. unless there's a guarantee from government.

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Quote from: Netnox on May 23, 2017, 11:58:29 PM

Already payment options such as PayPal, VISA/MASTER, and Skrill has replaced some of the functions of the fiat money. So it is not too far fetched to assume that Bitcoin will also replace a few of its functions in the near future.

And which functions did they replace?

The payment options you enumerated make payments more convenient and handy, but they didn't replace any of the money functions. When using these services you still using the same fiat. If they created their own money and then used it instead of fiat issued by governments, then your claim could potentially have some substance behind it, but not until then. They are certainly not about replacement, otherwise they would be quickly banned and disbanded for issuing money surrogates or substitutes

iqlimasyadiqa

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I am very sure bitcoin can replace conventional currency today. Now already seen some bitcoin advantages compared to other financial media. Maybe we just need to wait until the time can be controlled bitcoin. I predicted bitcoin would take about 5 years to expand its network in this world.

Kelvinid

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Maybe it cannot replace our conventional money at the present..but who knows?We could not really tell,but one thing is for sure that bitcoin will surpass all of this comparison.

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So anyway, I applied as a merit source :)

Quote from: Caelanpelley on May 24, 2017, 08:53:47 AM

Quote from: IsabelaFernandes on May 19, 2017, 04:08:19 AM

Could Bitcoin ever replace conventional money?

I think bitcoin can not replace conventional money. Because every country in the world has a different economy and money is different.When using bitcoin, we can only trades on the internet that can not be traded directly, that cause disadvantages for users.

In many countries people dont even know about bitcoin. They are only depending on physical cash for daily needs and they dont trust some cyber-coin which does not even have any physical existence. They are least bothered about the price of bitcoin - even consider people teaching them about bitcoin as fraudsters and that they are ponzi operators. There needs to mass education of bitcoin in every country. Maybe then there is hopes of bitcoin replacing conventional currency.

Caelanpelley

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Quote from: IsabelaFernandes on May 19, 2017, 04:08:19 AM

Could Bitcoin ever replace conventional money?

I think bitcoin can not replace conventional money. Because every country in the world has a different economy and money is different.When using bitcoin, we can only trades on the internet that can not be traded directly, that cause disadvantages for users.

nethan1btc

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I think bitcoin can replace conventional money in the future, but paper money wiill not be stopped for spending, because it is very important to thise remote areas around the world that don't have internet network. That idea of replacing conventional money is very challenging to a lot of economist that migrates their financial analysis to a very fluctuating currency that needs to be closely monitored. Most importantly when bitcoin is to replace conventional money, the freedom of this currency should remain firm specially to those old btc pioneer users; who mainly helped promote bitcoin through social media and signature campaigns.

Seville

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BTC will never replace normal money but it can take a chunk out of FIAT and gold because its better than both

sergio red

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From my perspective, it's not possible. Conventional money already made a good platform where it's used randomly. Conventional money can be used anywhere but Bitcoin is dependent on internet. So Bitcoin can't be replaced of conventional money in a real sense.

Ucy

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No, it won't and it never will. That would be a terrible idea unless CryptoCurrency does not rely solely on the Internet.
Some evil elites could hijack the Internet, all our money stuck unless we do their bidding.
FIAT MUST CONTINUE TO BE AVAILABLE UNTIL WE HAVE A VERY VERY RELIABLE AND SOLID ALTERNATIVE TO IT

mackenzied

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Quote from: IsabelaFernandes on May 19, 2017, 04:08:19 AM

Could Bitcoin ever replace conventional money?

I think it's not possible, even though technology evolves and people use more bitcoin, cash is still the only tool for making exchanges in everyday life. Bitcoin is dependent on the internet, and it needs a huge charge for every transaction, so people can not use bitcoin for everyday life, or in other words, it can not replace cash.

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I dont think so, the real nature of bitcoin and all the crypto is still a mystery. It's not money, for sure, even if you can change it for money in just a few minutes it is no money at all

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Quote from: Netnox on May 23, 2017, 11:58:29 PM

Already payment options such as PayPal, VISA/MASTER, and Skrill has replaced some of the functions of the fiat money. So it is not too far fetched to assume that Bitcoin will also replace a few of its functions in the near future.

We are talking about bitcoin for being a replacement for the currencies and i think bitcoin is not suited for being a replacement of conventional money because if bitcoin is suited then even it is first launched, bitcoin is already accepted as a money but the reality is, government hate bitcoin for being decentralized and not controllable so they don't have a choice for accepting it.

Obito

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Quote from: fathur.aza on May 23, 2017, 11:55:49 PM

I think it is impossible to replace with conventional money, even the government alone is not possible to allow it.

Indeed, bitcoin cannot replace conventional money. Government will not allow that happen because we all know that bitcoin is anonymous they don't know who run this and yet they cannot control it. I guess bitcoin could become another mode of payment in the near future.

Netnox

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Already payment options such as PayPal, VISA/MASTER, and Skrill has replaced some of the functions of the fiat money. So it is not too far fetched to assume that Bitcoin will also replace a few of its functions in the near future.

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