Topic: Could Bitcoin ever replace conventional money? - page 8. (Read 13852 times)
Bitcoin itself? There may be no possibility, unless many problems are resolved. The main problem? Confirmation time is only slow. Unless there is a way to measure the volume of the number of transactions that occur and if the performance of bitcoin is very good then most likely bitcoin replaces conventional money.
It's simply not gonna happen because most of the government won't let it happen because bitcoin's not suitable to take on and replace conventional money, its too volatile, has a small circulating supply, can't be traded without internet, takes a lot of time to gets transactions confirmed, etc. But I still love Bitcoin.
Well, I think it is unlikely that conventional currencies are replaced exclusively by Bitcoin,but the acceptance level of bitcoins and other alt-currencies will rise to great levels.As more and more people accept it lot of websites starting to accept and countries officially accepting bitcoin the usage of conventional currency will get lower with time,but this is not going to happen too soon.
For me there is the possibility of bitcoin can replace conventional money considering the decrease in the amount of material we need. Bitcoin can be done with easier delivery transactions so that the conventional money itself by means connected to the internet. Bitcoin still needs to be upgraded itself in order to replace the conventional money we have today. 
It seems to me most likely that bitcoin can replace conventional money given the reduced amount of material we need. Bitcoin can be transferred easily so that the conventional money itself by connecting with the Internet network. Bitcoin still needs to be upgraded on its own so as to be able to replace the conventional money we can have.
The fluctuations, both up and down, in the bitcoin value do not make it more plausible substitute currency.
Can bitkoyn replace ordinary money? No. There are two big problems in the battle: it is unstable and its processing of transactions is too slow.
The most important feature of the currency is that it is a stable depository of value. The stable value of the currency is the key to investment, because those who invest expect the stream of future earnings to get back their investments plus some profit. Instability in currency values means that the investor can not accurately predict the value of these future revenues.
Can bitkoyn replace ordinary money? No. There are two big problems in the battle: it is unstable and its processing of transactions is too slow.
The most important feature of the currency is that it is a stable depository of value. The stable value of the currency is the key to investment, because those who invest expect the stream of future earnings to get back their investments plus some profit. Instability in currency values means that the investor can not accurately predict the value of these future revenues.
Could Bitcoin ever replace conventional money?
I really think bitcoins can't replace conventional money on the account that bitcoins are really small in supply as compared to the different fiat money we have across the globe. Plus, the price of bitcoins is fluctuating hard and we can't have that to be our currency.
a paper money is a paper money
a bitcoin is a bitcoin
which means that paper money or conventional money has a purpose on its own same as bitcoin,
thus, bitcoin will never replace conventional money.
a bitcoin is a bitcoin
which means that paper money or conventional money has a purpose on its own same as bitcoin,
thus, bitcoin will never replace conventional money.
In one form or another, he will replace. It is enough to look at the existing map of exchangers in Europe to understand how quickly this develops:
I don't think... after All, the currency should be backed up by something... some assets, liabilities... In the near future, with the growth of computing power to "mine" cryptocurrency will be almost on the irons. And then her popularity (well, the cost, of course) pretty quickly slide to zero.
I think chances are slimmer now that govts will try to regulate Bitcoin in the near future. Investors have even fled to safety as evident on current prices.
In my opinion, bitcoin can not replace conventional money because not all countries legalize bitcoin and bitcoin prices fluctuate and bitcoin has no physical form, and I think bitcoin can only be used in conjunction with conventional money but can not replace it.
It is hard to say definitively, but its capability and technology is hard to overlook. For example, credit cards were never designed for the internet, and Bitcoin is capable of revolutionizing traditional payment methods,
It's still depend on any government if they will going to allow any cryptocurrency to replace fiat or conventional money in the future. We already know that the government will not approve any currency that they can't control so bitcoin, a decentralized cryptocurrency will not possibly get the nod of the financial officials or the central bank. Other governments might instead create their own but centralized cryptocurrency to be used by their own country. But it still too early to tell whether the bitcoin or any coins will be allowed to replace fiat in the future. If the next generation of leaders are bitcoin-friendly then there is a possibility.
I think when would bitcoin replace conventional money would be the right question. If our technology keeps on advancing at a fast phase then I think bitcoin or any crypto currency can replace conventional money. There is an endless possibility and a lot of potential with bitcoin.
I don't think it ever could. The limited supply and huge demand for it won't make it possible to pay for groceries lol. Plus it has to be widely adopted
Bitcoin will find it hard to replace conventional money, and somewhat it maybe also impossible to happen in my opinion. Conventional money is a trademark of one country so if they would replace it they just lost their trademark too. Bitcoin can be part of one country's economy but can't replace conventional money. Could Bitcoin ever replace conventional money?
Maybe someday bitcoin will replace conventional money, we don't know. This time will only come if more people will be educated what bitcoin is. They will be encourage to buy bitcoin and make it as their mode of payment instead of conventional money.
It wont replace conventional money.Bitcoin is a digital currency while conventional money is more like paper. no matter how famous these crypto currencies become conventional money will still be much around.
I don't think it ever could. The limited supply and huge demand for it won't make it possible to pay for groceries lol. Plus it has to be widely adopted
Bitcoin has a currency substitution function within a certain range, but it is still far from the standard of modern currency. Money is used as a medium of exchange, the measure of value, the means of payment, the value of stored goods. In view of this, the current role of Bitcoin is more reflected in the exchange and investment, the role of the most reflected in the payment of monetary value is very limited.
Could Bitcoin ever replace conventional money?
The money we used to have become part of our life that maybe bitcoin cant replace for some people.Specially to those people who didnt know about bitcoin.They will continue to use the money we have nowadays because it is the money they have trusted and known. Jump to: