Do You Think Bitcoin Will Replace Dollar Soon? - page 153.

Fatanut

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Quote from: fullypak on February 04, 2017, 02:22:02 PM

Quote from: Sanekavg13 on February 04, 2017, 12:42:08 PM

Quote from: avikz on February 04, 2017, 11:23:25 AM

Bitcoin doesn't have the power to replace dollar in any way. But yes, it may replace zimbabwean dollar as their economy is shattered. Jokes apart!

However, bitcoin and paper currency are genetically different. Dollar is a government backed currency where bitcoin is not. Bitcoin doesn't have any central authority. It is backed up by public trust. It will never be able to replace dollar or any other fiat currency unless and until any country adopts bitcoin as their national currency.

you are right, Bitcoin has many advantages, but it is not very important - government support. That is why he will never be able to replace the dollar

Running the country with bitcoin is impossible. If it happens, then there is no legal transaction will happen in that country. BEcasue tracking bitcoin transaction is not possible. So the bitcoin will help only for the digital transaction and online shopping purpose. It will never replace by Dollar. The value of the digital currency is high, but it can not beat the value of paper currency.

Or maybe the transactions would even be better when a country started to use bitcoins. So-called legal transactions always require proof of transaction and that's even easier to access when you're using bitcoins. To show that the transaction has happened, you just have to show the transaction fee. I think the huge reason why a country wouldn't use bitcoin for transactions because the government would have transparent records and most of them are hiding something.

All of the records will be available online and all of the proof of transaction can easily be seen and verified.

Dammitt

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I can not see any reason why Bitcoin should take the place of the Dollar. Now the dollar is moving in very good shape, one of the important functions of the markets. Bitcoin does not have a central authority, so the support of the people here plays a very important role or it is not accepted in bitcoin.

We can say that even most people can use bitcoin even if it is difficult to use. That's why the dollar will always stay.

phr0stbyt3

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Quote from: Creepings on February 03, 2017, 08:09:01 AM

Quote from: phr0stbyt3 on February 03, 2017, 07:03:42 AM

Wait what did you just say that bitcoin can replace dollars.
I don't think this will ever happen. It's just not possible. I agree people keep saying bitcoin is future, investment opportunity , etc. But bitcoin replacing dollars will never happen I can guarantee you.

Everyone would love a Digital Wallet that can be
brought to any place and have fast transactions.
As he says, it will not replace dollars, bitcoin may
be a popular crypto currency, but it is impossible to
replace dollars. I think bitcoin will be more used by
people in the future but will not replace currencies in
the future, though looking forward on making bitcoin
acceptable at any stores.

Well i still think there are many people who are forgetting the purpose of bitcoin. Bitcoin was made to be a unique currency. It was made to replace gold as an investment so why do want to use it for daily transactions. Bitcoin is just an investment platform please don't try to use it as an currency.

Imaginary Entity

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No. It will always be 'Alternative Currency' unless the Governance system breaks down completely.

It will be interesting when the Government-backed blockchain tokens go live, it could present a much more relevant competition between Bitcoin and Fiat.

fullypak

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Quote from: Sanekavg13 on February 04, 2017, 12:42:08 PM

Quote from: avikz on February 04, 2017, 11:23:25 AM

Bitcoin doesn't have the power to replace dollar in any way. But yes, it may replace zimbabwean dollar as their economy is shattered. Jokes apart!

However, bitcoin and paper currency are genetically different. Dollar is a government backed currency where bitcoin is not. Bitcoin doesn't have any central authority. It is backed up by public trust. It will never be able to replace dollar or any other fiat currency unless and until any country adopts bitcoin as their national currency.

you are right, Bitcoin has many advantages, but it is not very important - government support. That is why he will never be able to replace the dollar

Running the country with bitcoin is impossible. If it happens, then there is no legal transaction will happen in that country. BEcasue tracking bitcoin transaction is not possible. So the bitcoin will help only for the digital transaction and online shopping purpose. It will never replace by Dollar. The value of the digital currency is high, but it can not beat the value of paper currency.

deisik

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Quote from: Matthias Green on February 03, 2017, 12:43:01 PM

When debts of countries will be estimated in bitcoins we may say the replacement began successfully Grin

We may not live up to that. Governments didn't drop gold to get caught with Bitcoin

Quote from: avikz on February 04, 2017, 11:23:25 AM

Bitcoin doesn't have the power to replace dollar in any way. But yes, it may replace zimbabwean dollar as their economy is shattered. Jokes apart!

However, bitcoin and paper currency are genetically different. Dollar is a government backed currency where bitcoin is not. Bitcoin doesn't have any central authority. It is backed up by public trust. It will never be able to replace dollar or any other fiat currency unless and until any country adopts bitcoin as their national currency

The Zimbabwean dollar has already been replaced

With the US dollar if you didn't notice. It was also "backed up" by the central authority but it didn't help it since folks started to massively use anything until the local currency got completely abandoned. Or do you really think that a government is going to accept payments such as taxes in the currency that no one gives a fuck about any longer?

Sanekavg13

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Quote from: avikz on February 04, 2017, 11:23:25 AM

Bitcoin doesn't have the power to replace dollar in any way. But yes, it may replace zimbabwean dollar as their economy is shattered. Jokes apart!

However, bitcoin and paper currency are genetically different. Dollar is a government backed currency where bitcoin is not. Bitcoin doesn't have any central authority. It is backed up by public trust. It will never be able to replace dollar or any other fiat currency unless and until any country adopts bitcoin as their national currency.

you are right, Bitcoin has many advantages, but it is not very important - government support. That is why he will never be able to replace the dollar

avikz

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Bitcoin doesn't have the power to replace dollar in any way. But yes, it may replace zimbabwean dollar as their economy is shattered. Jokes apart!

However, bitcoin and paper currency are genetically different. Dollar is a government backed currency where bitcoin is not. Bitcoin doesn't have any central authority. It is backed up by public trust. It will never be able to replace dollar or any other fiat currency unless and until any country adopts bitcoin as their national currency.

margarete11

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I don't think so ! Dollar has already been part of the economy and it was created for a specific reasin I dont think that it will be abolished just because of Bitcoin! Implantation of Bitcoin as a currency is very hard because not everyone have an access to the internet and informing every citizen about Bitcoin will be a great challenge especially those people who are not familiar about the technology

bestluck

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Quote from: Fireblade on February 04, 2017, 10:38:44 AM

Quote from: blackhawkeye1912 on February 03, 2017, 12:23:03 PM

If all mankind or all country citizens will understand what bitcoin really means for us, I think Yes, there is a possibility that bitcoin will replace dollar soon. Because it has capability change the mind settings of individuals for the better too of course.

but i think it is not such an easy job. as bitcoin is present for last 9 years and still less that 1% people are using bitcoin. now imagin that how much time will it take when all the people of the world will be using bitcoin. i think it can take decades and then my be people give prefer to bitcoin as their primary currency. but still USD will also survive.

But if these people who have bitcoin and are coming to bitcoin start to support and promote bitcoin then it will sooner replace dollar because I am seeing that on internet it already have captured a good space of market like it already have replaced a number of payment processors and even paypal is also in the risk because of the coming of bitcoin so it is sure that in the coming future bitcoin will be in a position that it will replace dollar.

Fireblade

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Quote from: blackhawkeye1912 on February 03, 2017, 12:23:03 PM

If all mankind or all country citizens will understand what bitcoin really means for us, I think Yes, there is a possibility that bitcoin will replace dollar soon. Because it has capability change the mind settings of individuals for the better too of course.

but i think it is not such an easy job. as bitcoin is present for last 9 years and still less that 1% people are using bitcoin. now imagin that how much time will it take when all the people of the world will be using bitcoin. i think it can take decades and then my be people give prefer to bitcoin as their primary currency. but still USD will also survive.

boyptc

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Quote from: Matthias Green on February 03, 2017, 12:43:01 PM

When debts of countries will be estimated in bitcoins we may say the replacement began successfully. Grin

No, it is not going to happen debt is not going to be a measurement to make the replace of dollar with bitcoin to be successful. There are certain laws and legislation that must be followed and I really don't think that bitcoin will replace dollar. Most of us will like bitcoin this way unlike being controlled by the government.

deisik

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Quote from: Xenophoto on February 03, 2017, 12:16:05 PM

Quote from: phr0stbyt3 on February 03, 2017, 07:03:42 AM

Wait what did you just say that bitcoin can replace dollars.
I don't think this will ever happen. It's just not possible. I agree people keep saying bitcoin is future, investment opportunity , etc. But bitcoin replacing dollars will never happen I can guarantee you.

If people are going to be smarter, we would ask for transparent record for payments. There are some organizations for this and they target the government mainly. They ask for the records to where did the funds go in every single town. This is based on my experience since an organization/movement like that went to my area. My area doesn't want to release their records. Well, probably because they put most of the money to their personal bank accounts.

If people are going to be wiser, they would rally for this thing. They would ask where did every single penny from the tax that they paid for went. One way to have a transparent record for payments is by using bitcoins. But just like I said, most governments don't want to have that since they're corrupt. Their shady activities would be revealed, a lot of questions will be asked to them, and then they'll surely go to jail

Power corrupts while absolute power corrupts absolutely

The irony is that when the government is going after somebody (I mean its bodies that represent authorities, say, a tax agency or public safety department), banks and other financial institutions like exchanges are obliged by the law to provide the complete details of financial transactions that this individual has made up to date. In some jurisdictions even Internet providers are required to keep logs of all activity that folks spend time doing

And they may not quite like the kind of pron you are watching

Pab

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Bitcoin will never replace dollar or any national currency,any nation needs his own national currency,otherwise sooner or latar thay will face big problems,look euro currency,Greece,Spain,Italy are facing big problems.And now Germany,there is 4 years high inflation in Germany and fear that it will turn in to hyperinflation.Germany can do nothing with that becouse EBC is in charge

Matthias Green

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When debts of countries will be estimated in bitcoins we may say the replacement began successfully. Grin

blackhawkeye1912

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If all mankind or all country citizens will understand what bitcoin really means for us, I think Yes, there is a possibility that bitcoin will replace dollar soon. Because it has capability change the mind settings of individuals for the better too of course.

Xenophoto

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Quote from: phr0stbyt3 on February 03, 2017, 07:03:42 AM

Wait what did you just say that bitcoin can replace dollars.
I don't think this will ever happen. It's just not possible. I agree people keep saying bitcoin is future, investment opportunity , etc. But bitcoin replacing dollars will never happen I can guarantee you.

If people are going to be smarter, we would ask for transparent record for payments. There are some organizations for this and they target the government mainly. They ask for the records to where did the funds go in every single town. This is based on my experience since an organization/movement like that went to my area. My area doesn't want to release their records. Well, probably because they put most of the money to their personal bank accounts.

If people are going to be wiser, they would rally for this thing. They would ask where did every single penny from the tax that they paid for went. One way to have a transparent record for payments is by using bitcoins. But just like I said, most governments don't want to have that since they're corrupt. Their shady activities would be revealed, a lot of questions will be asked to them, and then they'll surely go to jail.

Creepings

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Quote from: phr0stbyt3 on February 03, 2017, 07:03:42 AM

Wait what did you just say that bitcoin can replace dollars.
I don't think this will ever happen. It's just not possible. I agree people keep saying bitcoin is future, investment opportunity , etc. But bitcoin replacing dollars will never happen I can guarantee you.

Everyone would love a Digital Wallet that can be
brought to any place and have fast transactions.
As he says, it will not replace dollars, bitcoin may
be a popular crypto currency, but it is impossible to
replace dollars. I think bitcoin will be more used by
people in the future but will not replace currencies in
the future, though looking forward on making bitcoin
acceptable at any stores.

BitHodler

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Quote from: poplolnman on February 03, 2017, 07:21:27 AM

Quote from: Gromozeka! on February 02, 2017, 11:52:28 PM

Quote from: Strongkored on February 02, 2017, 10:53:02 PM

I don't think it will happen 15 years later or more than 15 years, Many people just see Bitcoin an alternative payment processor and investment, and few people see Bitcoin just for the community. With current US citizen more than 320 million and many people beside US citizen use USD it's will be hard for Bitcoin replacing Dollar. People still trust in USD or local currency if they saving Bitcoin is just for saving.

Totally agree with you, Bitcoin does not replace the dollar and will continue to exist in parallel as an alternative currency with its own special properties and mechanics. Dallar can only replace digital dollar, if in the future the government will do it, but it will be the same dollar is not just on paper.

then there is an interesting question popping up like is it possible if later dolar have a digital version to compete with bitcoin? as the future of money in my opinion are clearly it's crypto currency. paper money hurting our lovely earth as it created from the Cotton and Linen. it's time to move to digital!

Fiat is already digital. I am barely using physical money anymore for my daily needs. I either use my banking app that works with NFC or my NFC enabled bank card to complete purchases.

If I ask for a refund they just require me to turn on NFC and the money is being returned. I must however note that in this case the refund amount can take up to 24 hours to show up if the banks aren't the same.

If the banks are the same, then it's of course instant. Right now it's just waiting to make bank to bank transfers instant for every bank. If that happens, then it will be even better. It's just a matter of time.

poplolnman

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Quote from: Gromozeka! on February 02, 2017, 11:52:28 PM

Quote from: Strongkored on February 02, 2017, 10:53:02 PM

I don't think it will happen 15 years later or more than 15 years, Many people just see Bitcoin an alternative payment processor and investment, and few people see Bitcoin just for the community. With current US citizen more than 320 million and many people beside US citizen use USD it's will be hard for Bitcoin replacing Dollar. People still trust in USD or local currency if they saving Bitcoin is just for saving.

Totally agree with you, Bitcoin does not replace the dollar and will continue to exist in parallel as an alternative currency with its own special properties and mechanics. Dallar can only replace digital dollar, if in the future the government will do it, but it will be the same dollar is not just on paper.

then there is an interesting question popping up like is it possible if later dolar have a digital version to compete with bitcoin? as the future of money in my opinion are clearly it's crypto currency. paper money hurting our lovely earth as it created from the Cotton and Linen. it's time to move to digital!

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