Cryptocurrencies against the dollar - page 2.

Muhammad Muneeb

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Quote from: Jackypot on February 13, 2018, 12:59:56 PM

Quote from: cryptobobo on February 13, 2018, 12:53:57 PM

Quote from: Jackypot on February 13, 2018, 12:44:54 PM

Are cryptocurrencies a threat to the dollar?
Personally, I do not think so? Huh

In general yes,because if most of the countries will allow the cryptocurrencies to be used by the people,it can replace the fiat and banking system which is why cryptocurrencies are created.But it will be too hard for our community to expand in most countries because the super power countries are has some regulations or limit to cryptocurrencies today,like U.S and China these countries has some influence to other small countries.

If it is a good point, but the reason why it can not replace the dollar is because the cryptomonedas are volatile, it does not have a fixed value, it is important to highlight the point

Tether is backed by Dollar and its price remains the 1$ it barely hit below the 1$.moreover crypto was invented for the mean of payments and i think that it is a threat to the fiat.. but we should concerned about the acceptance of the crypto

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Quote from: cryptobobo on February 13, 2018, 12:53:57 PM

Quote from: Jackypot on February 13, 2018, 12:44:54 PM

Are cryptocurrencies a threat to the dollar?
Personally, I do not think so? Huh

In general yes,because if most of the countries will allow the cryptocurrencies to be used by the people,it can replace the fiat and banking system which is why cryptocurrencies are created.But it will be too hard for our community to expand in most countries because the super power countries are has some regulations or limit to cryptocurrencies today,like U.S and China these countries has some influence to other small countries.

It has some sense of course. But crypto should pass a very hard way to become a real threat. Moreover I think that there may appear governments' protocols (for taking taxes and tracking personal activity) and regulations which will force to implement them. I suppose in this case private coins will surely be in a great demand.

sourish

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Taxes and law enforcement could be a potential threat for government authorities, but dollar has no such fear till prices reserved in banks and commodities are dollar denominated.

NeuroticFish

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Quote from: Jackypot on February 13, 2018, 12:44:54 PM

Are cryptocurrencies a threat to the dollar?
Personally, I do not think so? Huh

Nope, or at least not yet. Government-issued currencies are still needed to pay in the country's stores, to pay taxes and so on. Unless a government ever switches from its currency to Bitcoin, they can work very well in parallel. And this will not happen in the near future.
But Dollar is not used only for payments in US. And here the interesting part comes. Many things' prices are in Dollars over the world, oil is one of the most known. If such things get traded against something better than US dollar (yes, I mean Bitcoin), then Dollar will have a problem: it may get downgraded from the list of global (hard) currencies. But it's again, quite unlikely to happen in the near future. And it will not be only the Dollar in this situation - Euro and maybe Yen will be in the same situation.

TL;DR; While there are directions to think of where Bitcoin could become a threat for US Dollar, none of those have a chance to happen in the near future.

randythered

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Cryptocurrencies are unlikely to ever replace FIAT currencies, they may offer alternatives in some situations however. Even in the case where cryptocurrencies are adopted in many places I suspect that most retailers who accept them will be converting any crypto they receive in to FIAT instantly.

Dhruvv1

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For a crypto to ever become a reserve currency, there would need to be a revolution on a global scale, a war if we will against the worlds central banks Grin

As for a crypto making it to a reserve status which could actually threaten the dollar, I think is an impossible at least during our lifetimes.

Jackypot

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Quote from: Jackypot on February 13, 2018, 12:59:56 PM

Quote from: cryptobobo on February 13, 2018, 12:53:57 PM

Quote from: Jackypot on February 13, 2018, 12:44:54 PM

Are cryptocurrencies a threat to the dollar?
Personally, I do not think so? Huh

In general yes,because if most of the countries will allow the cryptocurrencies to be used by the people,it can replace the fiat and banking system which is why cryptocurrencies are created.But it will be too hard for our community to expand in most countries because the super power countries are has some regulations or limit to cryptocurrencies today,like U.S and China these countries has some influence to other small countries.

If it is a good point, but the reason why it can not replace the dollar is because the cryptomonedas are volatile, it does not have a fixed value, it is important to highlight the point

good point you mention, but remember that what makes the cryptocurrency innovative is that it is not regulated by any institution

AngelSky

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Quote from: Jackypot on February 13, 2018, 12:44:54 PM

Are cryptocurrencies a threat to the dollar?
Personally, I do not think so? Huh

You have understood about the cryptocurrencies wrong I think. You will find the cryptocurrencies against to banks not to the fiat cashes. Example if you own your bank there is no mediator to handle the money of yours.
Then these kind of scams been done by the banks on consumers will be reduced. Actually I support to bitcoin and alts more than banks. There is no scams between the crypto transactions.

Jackypot

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Quote from: cryptobobo on February 13, 2018, 12:53:57 PM

Quote from: Jackypot on February 13, 2018, 12:44:54 PM

Are cryptocurrencies a threat to the dollar?
Personally, I do not think so? Huh

In general yes,because if most of the countries will allow the cryptocurrencies to be used by the people,it can replace the fiat and banking system which is why cryptocurrencies are created.But it will be too hard for our community to expand in most countries because the super power countries are has some regulations or limit to cryptocurrencies today,like U.S and China these countries has some influence to other small countries.

If it is a good point, but the reason why it can not replace the dollar is because the cryptomonedas are volatile, it does not have a fixed value, it is important to highlight the point

hardly

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Quote from: Jackypot on February 13, 2018, 12:44:54 PM

Are cryptocurrencies a threat to the dollar?
Personally, I do not think so? Huh

No they aren't, because cryptocurrencies have no govern authority, no infrastructure that can be used in the real world. Can be used for alternative payments, but won't be a threat to the dollar anytime soon.

The only thing that will kill the dollar, is the dollar/american government itself.

cryptobobo

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Quote from: Jackypot on February 13, 2018, 12:44:54 PM

Are cryptocurrencies a threat to the dollar?
Personally, I do not think so? Huh

In general yes,because if most of the countries will allow the cryptocurrencies to be used by the people,it can replace the fiat and banking system which is why cryptocurrencies are created.But it will be too hard for our community to expand in most countries because the super power countries are has some regulations or limit to cryptocurrencies today,like U.S and China these countries has some influence to other small countries.

Jackypot

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Are cryptocurrencies a threat to the dollar?
Personally, I do not think so? Huh

Topic: Cryptocurrencies against the dollar - page 2. (Read 185 times)