Topic: Could Bitcoin ever replace conventional money? - page 5. (Read 13852 times)
I'd rather say no, bitcoin is only a digital currency. it is use online,
It is likely to happen especially if everyone else realizes the superiority of crypto, they would want to switch over and the value of the conventional money will fall down.
Can not speak of other countries especially those that approve bitcoin to be legal but as for my own country it will not because the government never accept it as a legal currency.
I dont think that will happen in the future coz I think btc not suitable to the requirement of being a conventional money of a certain country. Other government would not agree on it for sure.
But it is difficult, we all know that bitcoin transactions depend heavily on the Internet, many big and big countries like Brazil, Indonesia, India which would be difficult to get 100% internet access, even the information in that country is not 100% affordable for electricity service.
Indonesia is not very trouble to access internet. Now in whole country there are many provider that build signal tower and it can make better signal to access internet.
However, internet is another problem because many country had improved their internet quality. The main problem for this is the slow transaction of bitcoin. It make not many people use bitcoin as payment processor.
It will take time but yes it can, as soon as its globally accepted, there will be no stopping bitcoin, its safer to transact with, something that conventional money isn't, faster and very reliable. its just about time. bitcoin will however not face the conventinal currency out completely but it will be the main medium of exchange.
i think it can't, because some country right now still disagree (policy) with bitcoin (Cryptocurrency). I think the most likely is bitcoin can be second currency.
I don't figure bitcoin can supplant conventional cash as it is under the control of the administration of nation, perhaps there is a more noteworthy shot that customary cash would be supplanted by a computerized money which would be under the control of governments and national banks.
No, I don't think it can. given the facts that most governments are not in favor of legalizing Bitcoin in their countries, how can Bitcoin replace the conventional money. Also the maximum supply of Bitcoin is just 21 million, remember?
I do not think so. It will lose control of the government
many of people are saying this because bitcoin is the digital currency and it is not attached with the government so this is main reason why bitcoin is not able to do this according to you but mate this is some other thing, if we look at the demand we will see bitcoin is high in demand and people are preferring to sue bitcoin instead of conventional money as it is more easy to use for shopping and to buy food or house so we can say it is going to happen in future. 
Conventional money will continue to dominate as long as there are nation states and governments which are powerful enough to enforce their laws. It says so because bitcoin is not what it is advertised to be. It is not cheaper to transmit. It is not easy to use.
Only if it started to function as digital money or currency and not as a stock then I would say yes. The problem here is that the foundation of this crypto is not too stabilized and also, it is limited. And that will create even more problems. Second, government, banks and other corporations will deem to disagree and put an end to this thought. Capitalism at its finest.
It is closely related to banks, governments and companies. For this reason, the obstacles in front of the crypt money are actually too much. It is easy to control currency, they can also be registered.
I think there would be a small chance of that happening. Because we need tangible evidence for everything. It's also very inconvenient to pay upfront especially when you only need to pay in small amount, the commission can sometimes overwhelm the price of the goods being bought. It will be also not that comfortable if you need to always have a data connection just to pay something. There would be many disadvantages and advantages but i think it would be okay not to replace conventional money with bitcoin.
Only if it started to function as digital money or currency and not as a stock then I would say yes. The problem here is that the foundation of this crypto is not too stabilized and also, it is limited. And that will create even more problems. Second, government, banks and other corporations will deem to disagree and put an end to this thought. Capitalism at its finest.
Well, i think it's hard to replace conventional money in whole world because in the first place government has the authority to agree upon the economic stability of the country in which is suitable for every people including business sector and to the growth of financial capasity of the nation.
Only if it started to function as digital money or currency and not as a stock then I would say yes. The problem here is that the foundation of this crypto is not too stabilized and also, it is limited. And that will create even more problems. Second, government, banks and other corporations will deem to disagree and put an end to this thought. Capitalism at its finest.
Could Bitcoin ever replace conventional money?
It cannot replace conventional money and I think that the reason is people would always be a stickler for the tradtitional things in life and having paper money provides comfort and solace that their money is with them and they can touch them. Putting a value on something that is intangible makes it harder for them and gives them an uncomfortable knowledge that they can’t control their money
Could Bitcoin ever replace conventional money?
It is not possible unless a government allow the bitcoin first to be use as a legal tender or approved by the central bank to be one of the main currency. Internet availability in the far flunged areas should be also address to make bitcoin accessible. You can not successfully implement a plan like replacing conventional money by bitcoin if the technological infrastructure in your area is poor. Modernization take time so it is not yet possible in the near future.
It might be possible if other cryptos will work and became acceptable everywhere, but than it will be more regulated, and I think it will lose some of its futures.
If according to my personal, most likely could happen here because of the technological developments increasingly rapidly. We should also be able to follow the development of the current technology.
Yes it is possible but it would take some time like 5 to 10 years from now. Things won't be like this in future and the world would have internet access in future on all the Luke and corner, even electricity would be there for every ones usage. I think Bitcoin would replace conventional money for sure, the countries that is opposing or ban cryptocurrency will forced to accept Bitcoin due to the demand and usage in future for sure.
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