Do You Think Bitcoin Will Replace Dollar Soon? - page 137.

Xester

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Quote from: housebtc on March 27, 2017, 01:39:03 AM

21 million coins is not enough to serve a country talkless of becoming world currency, I think we should start using Satoshi count more than the word Bitcoin. We also need fiat especially for the non-tech people

In line with your thoughts I also thought that the number of bitcoins in circulation could not handle the demand coming from hundreds of countries all over the world. If we are only talking of one country then that is very feasible but since we are talking about the whole world then that is another story. Aside from the insufficient number of coins in the circulation bitcoin cannot be controlled by the government placing the countries financially at risk.

Roboabhishek

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I don't think it's possible to replace the currency of a country with some virtual one.
It's practically impossible to think of it.
If this tends to happen than US gov will prohibit the use of bitcoins in their country.

Alfa123

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Quote from: bryant.coleman on March 27, 2017, 06:35:24 AM

Quote from: Dizaster2015 on March 27, 2017, 05:30:20 AM

Yes, I also think that keeping the bitcoins for a long period is very profitable. But all the same, the currency can not replace the currency. Crypto currency will always remain an alternative currency

Well... there is a very small chance that Bitcoin may replace some smaller currency, such as the São Tomé and Príncipe Dobra or the Comorian Franc. But I am very much sure that it is not going to replace the United States Dollar. The USD is the reserve currency of the world, and it is the currency of the international trade. It will be impossible for the BTC to replace the US Dollar.

I completely agree with you. The dollar has always been and will remain the leader. And bitcoin, despite all its advantages, will never replace the dollar. The main reason is that the dollar is supported by the government

bryant.coleman

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Quote from: Dizaster2015 on March 27, 2017, 05:30:20 AM

Yes, I also think that keeping the bitcoins for a long period is very profitable. But all the same, the currency can not replace the currency. Crypto currency will always remain an alternative currency

Well... there is a very small chance that Bitcoin may replace some smaller currency, such as the São Tomé and Príncipe Dobra or the Comorian Franc. But I am very much sure that it is not going to replace the United States Dollar. The USD is the reserve currency of the world, and it is the currency of the international trade. It will be impossible for the BTC to replace the US Dollar.

aryana42

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Do You Think Bitcoin Will Replace Dollar Soon?

It seems difficult if bitcoin will replace the dollar. Because, banking institutions and even governments will tend to reject it.

But, bitcoin will grow as a means of companion payment such as dollar .

Dizaster2015

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Quote from: Japinat on March 27, 2017, 02:54:52 AM

Quote from: housebtc on March 27, 2017, 01:39:03 AM

21 million coins is not enough to serve a country talkless of becoming world currency, I think we should start using Satoshi count more than the word Bitcoin. We also need fiat especially for the non-tech people

It's not the volume that matters but the value, the total supply is limited but it can serve as many people who wants to buy it, the only thing that
will happen is while the demand is increasing the value will grow. If that will happen, the first group that will benefit is the investors who are
holding thing bitcoins for a longer term, so if you believe we will come to that situation in the future you should consider risking your money to bitcoin now.

Yes, I also think that keeping the bitcoins for a long period is very profitable. But all the same, the currency can not replace the currency. Crypto currency will always remain an alternative currency

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Quote from: housebtc on March 27, 2017, 01:39:03 AM

21 million coins is not enough to serve a country talkless of becoming world currency, I think we should start using Satoshi count more than the word Bitcoin. We also need fiat especially for the non-tech people

We will start using Satoshi more for units when the price of bitcoin sky rockets. But right now, we're far from that. We're still using the usual 0.00x BTC. There are some that use x mBTC but most of the time it just creates confusion because not everyone knows that m stand for micro which means x 10^-3.

Today, we use the unit satoshi for dump coins. For example, 1 satoshi each. We also use the satoshi units to refer to the price of other altcoins. For example, ICONOMI has the price 40k sats. Simply because it's much easier that way.

Japinat

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Quote from: housebtc on March 27, 2017, 01:39:03 AM

21 million coins is not enough to serve a country talkless of becoming world currency, I think we should start using Satoshi count more than the word Bitcoin. We also need fiat especially for the non-tech people

It's not the volume that matters but the value, the total supply is limited but it can serve as many people who wants to buy it, the only thing that
will happen is while the demand is increasing the value will grow. If that will happen, the first group that will benefit is the investors who are
holding thing bitcoins for a longer term, so if you believe we will come to that situation in the future you should consider risking your money to bitcoin now.

housebtc

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21 million coins is not enough to serve a country talkless of becoming world currency, I think we should start using Satoshi count more than the word Bitcoin. We also need fiat especially for the non-tech people

Kolder

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Quote from: Rinder on March 26, 2017, 06:49:01 PM

Bitcoin has no power to replace the dollar, and i doubt it could replace any other currencie, knowing its a limited currencie, and the price is around 1000 dollars at the moment, this isnt enought to cover any currencie as i know, besides the fact that some of those coins are lost forever. Bitcoin is good for online transactions, even with fees becoming out of control, countries wouldnt let this happen even if it were possible.

Bitcoin has the power but it is not possible at this moment, Sooner or later it can replaced the Dollar. What do you mean by limited? Dollars also is Limited and any currencies, The production of money is controlled. Bitcoin is a decentralized currency which is the best to use world wide, And as per what you have said regarding bitcoin was good for online transaction, That features may also trigger for people to change preference, But for the record, Bitcoin is still impossible to replace Dollar ATM

iamTom123

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There is no way Bitcoin can replace dollar or any fiat money for that matter. There are so many functions which the fiat money can do and Bitcoin can not yet do. Just go the rural places of any country and you will see what I mean. Bitcoin and the fiat money can work side-by-side and can even be complimentary. Plus, we have to remember that the fiat money is issued and recognized by the government...do you think they will want to replace that fiat money with something beyond their control? No, I don't think so and if anyone here still dreamed of that then that person is just pushing for something according to his own interest.

Rinder

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Bitcoin has no power to replace the dollar, and i doubt it could replace any other currencie, knowing its a limited currencie, and the price is around 1000 dollars at the moment, this isnt enought to cover any currencie as i know, besides the fact that some of those coins are lost forever. Bitcoin is good for online transactions, even with fees becoming out of control, countries wouldnt let this happen even if it were possible.

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Quote from: Forester618 on March 26, 2017, 03:35:22 PM

Currently the us dollar is the most popular currency in the world. Many countries keep their reserves in dollars. This makes America's economy stronger. No, bitcoin will never be able to compete on an equal footing with the dollar.

yes currently it may not be possible as USD is one of the most popular currency of the world about i think it depend of the people interest, if people will give more preference to bitcoin then it will surely cross USD so easily.

Forester618

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Currently the us dollar is the most popular currency in the world. Many countries keep their reserves in dollars. This makes America's economy stronger. No, bitcoin will never be able to compete on an equal footing with the dollar.

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Quote from: taxmanmt5 on March 26, 2017, 11:19:41 AM

Quote from: CODE200 on March 24, 2017, 10:48:06 AM

I don't think so, maybe the the goverment won't agree that bitcoin will replace dollar because first of all bitcoin was not created by the government. We can't say when bitcoin can consider a real money because we can only earn it in the internet. Maybe one day bitcoin can replace dollar someday.

Well ofcourse the government will always oppose the Bitcoins as they are not controllable and no govt wants the people to get finial freedom. But still bitcoin will replace dollar soon by people themselves giving up dollars and adapting bitcoins.

i think currently they may be opposing bitcoin but as the users of bitcoin are increasing continuously therefore they will compel the government to accept bitcoin as legal currency. at least they will create their own crypto currency but it will not be as such popular.

Mario274

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Quote from: taxmanmt5 on March 26, 2017, 11:19:41 AM

Quote from: CODE200 on March 24, 2017, 10:48:06 AM

I don't think so, maybe the the goverment won't agree that bitcoin will replace dollar because first of all bitcoin was not created by the government. We can't say when bitcoin can consider a real money because we can only earn it in the internet. Maybe one day bitcoin can replace dollar someday.

Well ofcourse the government will always oppose the Bitcoins as they are not controllable and no govt wants the people to get finial freedom. But still bitcoin will replace dollar soon by people themselves giving up dollars and adapting bitcoins.

I am sure that this can not happen in the near future. People obey the government. And if it says that bitcoin is bad, then people will less use it

taxmanmt5

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Quote from: CODE200 on March 24, 2017, 10:48:06 AM

I don't think so, maybe the the goverment won't agree that bitcoin will replace dollar because first of all bitcoin was not created by the government. We can't say when bitcoin can consider a real money because we can only earn it in the internet. Maybe one day bitcoin can replace dollar someday.

Well ofcourse the government will always oppose the Bitcoins as they are not controllable and no govt wants the people to get finial freedom. But still bitcoin will replace dollar soon by people themselves giving up dollars and adapting bitcoins.

salemon

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Quote from: gabmen on March 26, 2017, 03:09:49 AM

Quote from: maiiyeuvo on March 25, 2017, 04:52:36 PM

Replace - NO

But equal - YES

I think the fact bitcoin will be a strong currency in the future.

We will have more people accepting BTC and other digital currency. Also it will be easier to handle and rest of the people will enjoy this

Yeah that's right. I don't thinks there's really a need to have any currency replaced when we can have both for better alternstives depending on transactions. Some trandsctions, digital ones, can be better done using btc and there are also those kind of transactions that would have to be done the traditional way so we should know better to take advantage of what makes life easier for us

Perhaps it would be better for people to have bitcoin as the only possible currency, but such thoughts do not wander in the heads of the governments of states. Even if we assume that bitcoin will be legalized, it means that bitcoin users will have to get used to the loss of anonymity and the payment of taxes from bitcoins of income.

gabmen

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Quote from: maiiyeuvo on March 25, 2017, 04:52:36 PM

Replace - NO

But equal - YES

I think the fact bitcoin will be a strong currency in the future.

We will have more people accepting BTC and other digital currency. Also it will be easier to handle and rest of the people will enjoy this

Yeah that's right. I don't thinks there's really a need to have any currency replaced when we can have both for better alternstives depending on transactions. Some trandsctions, digital ones, can be better done using btc and there are also those kind of transactions that would have to be done the traditional way so we should know better to take advantage of what makes life easier for us

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Quote from: bitcoin31 on March 25, 2017, 05:49:44 PM

Quote from: pinkpanther03 on March 24, 2017, 12:05:45 PM

Quote from: altcoinhosting on July 29, 2015, 02:17:21 AM

I honestly don't think it'll happen, certainly not in 15 years... In 100 years maybe?

Lol, how did you say that? and how did you know that after 100 years bitcoin will replace dollar. Nobody knows what will happen tomorrow, but there is a possibility to be happen that bitcoin can replace dollar depending on how the people around the world will adopt bitcoins.

Agree i dont think is happen. But no one knows what happen in the future what if bitcoin price collapse do you think bitcoin replaced dollars ? For sure no . Bitcoin price is how many people in the world use bitcoin if many people are use bitcoin i think the price will pump more and more and that time it will now replaced dollars but the government will dissagree.

Aside from that the scalability issue will also play a major part why Bitcoin cannot replace dollar. Even if the government think that it is possible to accept Bitcoin as main currency(assuming), they will be turned off to the scalability issue of Bitcoin that creates lots of unconfirmed transaction.

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