Topic: Do You Think Bitcoin Will Replace Dollar Soon? - page 120. (Read 417177 times)

Cryptocurrency is more like being digital and they are connected because they can be found in the internet and if the make their own artificial money for themselves then i think it will be more stabled than the usual cryptocurrencies or digital money because the government will make that tweaks for their own money to be stable just like fiat and it will be a good alternative for the fiat because you don't need wallet anymore because you just need device like smartphone then you can bring your money but if we talk about investment then the real cryptocurrencies will still the winner.

I think if bitcoin carries on it may be an alternative to gold as an investment currency - but I can't see it replacing a fiat currency even in the long term - governments need to control their monitory policies and they can do this by devaluing their currency etc. I think if bitcoin gets too big the governments will move to kill it.

It will not be called a crypto currency if it is centralized. But they can make their very own artificial digital money where they can have an unlimited supply to the people. But of course it's totally different from bitcoin, once they will keep on supplying it, that currency will be eaten by the inflation unlike bitcoin it's demand is getting higher when it will reach it's total supply limit.

I agree. Bitcoin slowly becomes a part of the world and the ecosystem. Right now, I can ensure that more than 50% of the world population knows about bitcoin. It is a great opportunity for all of us

Bitcoin can not replace a real currency, even after a large amount of time, because without the Internet it will not have any value.

Yes i agree with you guys, dollar will live for some time in future that is true. But we must not forget that we live in era of technology progress, and that every day people are looking how to make live even more easy. So even now people are paying there bills over internet, and it is just a matter of time before fiat currency start to get forgotten. It will not happen soon, but it has already started. When all payment is done electronically, there is possibility that bitcoin replace dollar.

What else do you want bitcoin to prove about its security? Bitcoin is unhackable or should I say it will take millions of millions of millions of times for you to crack bitcoin's algorithm. Security wise, it's decentralized. Even when hackers are able to take down major mining companies, it will be a good thing to everyone since they can finally start mining without having to invest tons of money.

Let's just think of the situation for a second. There's billions of money currently invested in bitcoins. If a hacker has found a security malfunction or anything that will allow him to get bitcoins from someone, then he should have done it by now. Pick one (or more) from the list of the addresses with most bitcoins, sell the coins, and run away right away.

totally agree with you. dollar or fiat in general have its own benefits as with btc features. there's no need to think of choosing one over the other when you're able to maximize the use of both to make your life and your transactions a lot better.

I think there isn't a need to supplant dollar. We can have every one of the monetary forms working exceptionally well, if individuals have the privilege to pick what money to utilize, no issue. What can't exist are governments forbiding their kin to receive Crypto-Currency, that isn't right. Anyway, dollar is excessively solid and it will keep driving the world for much time yet, and I think there aren't impediments on it.

I feel that we ought to give more opportunity for Bitcoin to shimmer, since its blockchain innovation is moderately new and it should be tried well against all regions of security before it can truly be considered to apply into standard utilization. One of the primary things that influences Bitcoin towards gigantic utilize is it's versatility. As I would like to think, once this is tackled then I believe that the way for Bitcoin would be sure as more individuals utilize it, making the likelihood of getting to be noticeably utilized as a fundamental money around the world. Other than that, fiat will at present command the monetary segment.

The strongest economy too have started to fall gradually as the value of dollar has fallen low. Bitcoin will continue to function as an alternate for the mainstream currency. Also when we compare the number of bitcoin users to the number of fiat users we're quite low, so replacing dollar or​ fiat is not gonna happen.

That's true, bitcoin is not a thing that would change this world by replacing everything the government has made for so long.
It's created to aid the current system and to have a more faster and cheaper transaction, also a transparent one.

Most of you are thinking about very small space of time.

Basically, the financial system is in the hands of central banks and governments. And even if private banks have some independence, they are heavily regulated by the state's rules and by the willingness of the state to print more money. To make matters worse, they often make a point of these regulations, as they are benefited by state aid policies, low competition, and fractional reserve policy.

Paper money in circulation currently has fiduciary ballast and forced travel. In simple terms, this means that the state forces all commercial operations in that territory to be carried out in its currency. The fiduciary ballast therefore gives the government incredible power, that of turning ink and paper into something of great value. That way, when the state needs more money, instead of raising taxes that diminishes its popularity, it can resort to two other sources of funding: printing more money or issuing public debt bonds. In the first case, the government hand directly attacks the pocket of the citizen, since inflation results from the increase of the supply of money in the market. When the government plays new paper money to circulate, it automatically devalues ​​the amount that was until then in the market (especially the economic reserves of the people).

In this process, those who suffer most are the poorest, since they do not have sufficient income to invest in real estate, gold, bonds or other currencies with lower inflation. Thus, they become more susceptible to the evil effects of inflation. Not only that, usually the astronomical sums of newly printed coin are handed over to the "king's friends," government-run businesses chosen for favors. Once printed this money no longer has the same value, but the market has not yet realized this change, so the first to receive the "fresh notes" are doubly benefited.


The second (printing of public debt bonds) is much more cruel as it leaves the debt to be paid by future generations. To get an idea of ​​the proportion this has taken in the US, an American citizen born today will already owe $ 53,000.

It is clear that bitcoin operations are still poorly representative when compared to other currencies. It is also not possible to say that bitcoin itself will be the preferred crypto-currency in the future.

For decentralized crypto-coins to overtake definitive fiduciary ballast coins, it will be necessary for more and more stages in the production chain to be financed by this new type of money, until from fertilizer to wheat fields to freshly baked bread Negotiated in this new way.

For those who wonder if bitcoin will work, the most appropriate answer is: it worked.

I think the bitcoin function remains as a digital currency and to replace fiat currency seems unlikely.
Although bitcoin is currently growing rapidly but we do not have accurate facts about future of bitcoin, because the bitcoin's legality that until now has not been declared as a digital currency, so it seems to replace function of dollar currency is very unlikely for now

Think of how many people can only used digital currency in this world, I am sure it is not the majority who will adopt with
digital currency, they will still used paper money and we cannot eliminate dollar, we know how strong the USA is.

Yes that will happen if there will be a centralized digital money or cryptocurrency because the government owns that and they can do whatever they want like manipulating the market and the people of their country to convince them that their currency is a good currency to use instead of using other decentralized currency.

Well, that's probably true, because if the digital currency starts in the legend, maybe very many people will pay more attention to the digital world, than the original, so the bitcoin enthusiasts will increase, and the dollar is slowly not used. But, I think the dollar will still be used.

Yes, your right man, I think Dollar was not replace of Bitcoin because in the past few decades no one cash can beat the popularity of Dollars in the market also, they make it as the global currency that's why bitcoin replace it. Moreover, there's a lot of crytocurrencies were excel now that's why bitcoin had a lot of competitors as digital currencies.

Bitcoin will become more popular in future but its hard to believe that it can ever replace dollar or take over it as dollar is the strongest currency and more popular then bitcoins and it is widely used and accepted which is missing with bitcoins at a moment and even in future we cannot expect that each and every person will start using bitcoins.

I don't think do. Market of bitcoin is too smal for USD. Bitcoin currency is just a sub currency to support transactions online.