Do You Think Bitcoin Will Replace Dollar Soon? - page 162.

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Quote from: youdacapt on December 20, 2016, 05:07:41 AM

Bitcoin isn't going to replace the currency of a country, but bitcoin will become a universal currency for the entire world, in Europe we are already familiar with the euro as a currency, I believe bitcoin will be greater than that.

Wrong if we think cryptocurrency and physical currencies will not collide. If cryptocurrency market received more attention, and majority of people in the world are familiar with bitcoin, then the global economy will change. This will not happen in the near future, only a third world war which could make it faster.

That is very impossible that bitcoin will replace dollar because people doesn't want to change the currency system of a country.
I will believe if gold will be the next currency and if the government will implement again the ancient times of law.
But with bitcoin, I really don't think it will happen.

Techie5879

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There are many reasons why bitcoin may one day, replace the U.S Dollar. Some of them are:-

Increased security and prevention from your money getting stolen
There is not central authority controlling bitcoin, its for the people, by the people, and of the people
In addition, there is no monetary authority/government that restricts or boosts the number of bitcoin available, unlike fiat currencies whose levels can be controlled by central banks.
You are in control of our own money, and banks too dont get any high income from your money
You dont get any outright interest like from banks, but a sudden/steady price hike more than compensates that demerit

zhangswujip

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Theoretically possible. Bitcoin networks have been able to handle a lot more transactions per second than the current processing volume. But it is not yet fully mature enough to scale up to the main credit card network. Work to improve the current cap is ongoing and future demand is also very clear. From the beginning, every aspect of bitcoin networks are maturing, optimization and specialization, this process will continue in the next few years. As traffic increases, more bitcoin users may use lightweight clients, while full network nodes may become more specialized services.
As far as we know, bitcoin is not defined by the legislature as illegal currency in most jurisdictions. However, some jurisdictions (such as Argentina and Russia) strictly restrict or ban foreign currencies. Other administrative jurisdictions (such as Thailand) may restrict the granting of licenses to certain entities, such as bitcoin trading platforms. Our country is the bitcoin is defined as a kind of Internet products, therefore, bitcoin digital currency to replace the dollar as the encryption is a thing very distant in the global circulation.

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Bitcoin isn't going to replace the currency of a country, but bitcoin will become a universal currency for the entire world, in Europe we are already familiar with the euro as a currency, I believe bitcoin will be greater than that.

Wrong if we think cryptocurrency and physical currencies will not collide. If cryptocurrency market received more attention, and majority of people in the world are familiar with bitcoin, then the global economy will change. This will not happen in the near future, only a third world war which could make it faster.

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Quote from: Ewinsane on December 19, 2016, 03:30:03 PM

Quote from: TheHost on December 17, 2016, 03:59:00 PM

Probably bitcoin will never replace dollar, IMO at most it will become widely used, similar to euro in Europe.

Sometime i also think that bitcoin will never replace dollar because bitcoin just a crypto currency and there is no physical shape of bitcoin and Dollar have physical shape and Dollar is accept in everywhere for online and for direct shopping and currency we can buy every think from online with bitcoin nowadays .

You are right with what you see, it can never happen, bitcoin cannot replace dollar soon and in the near future. It will still be an alternative currency without a value if without fiat, so basically it relies on fiat.

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Quote from: TheHost on December 17, 2016, 03:59:00 PM

Probably bitcoin will never replace dollar, IMO at most it will become widely used, similar to euro in Europe.

Sometime i also think that bitcoin will never replace dollar because bitcoin just a crypto currency and there is no physical shape of bitcoin and Dollar have physical shape and Dollar is accept in everywhere for online and for direct shopping and currency we can buy every think from online with bitcoin nowadays .

dmamigo

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May be it is greatly used new currency, but it is not possible to replace USD. Replacing USD with Bitcoin might effect the economy worldwide as well. It can sustain as a parallel currency/Investment but won't replace anybody I believe.

rajasumi2

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Bitcoins will never replace dollars near around soon .so much mining is required and not a little even bit have been mined and u are taking over the market .and even if any country does that it will be China because they will be the leader in bitcoins.

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No this is not gonna happen because of the fact that the dollar is too powerful and a lot of people are depending on it too, its just that it has too much users and power and the bitcoin is also depending on the dollar.

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Quote from: kryptqnick on December 18, 2016, 12:42:37 PM

Quote from: Mastsetad on December 18, 2016, 11:48:50 AM

Quote from: TheHost on December 17, 2016, 03:59:00 PM

Probably bitcoin will never replace dollar, IMO at most it will become widely used, similar to euro in Europe.

Certainly, for sure it can or it will be used widely in the world after a few years, though it is already used worldwide but it will get more popular with time but as you said it wont be able to replace a currency like dollar which is used in a large extent in the world.

Nevertheless, popularity isn't the only one thing which bitcoin requires to be a currency like a dollar. With that BTC also has to be currency that used by states. Since this use is supposed to be total, BTC also ought become currency for taxes.
However, that'll kill BTC. BTC is special just because it exists without states and taxes. And BTC replaced USD will became a new USD.
When BTC fights ~~monster~~ USD, it becomes ~~monster~~ USD (allusion to Nietzsche).

I don't quite understand what you mean

You say that Bitcoin exists without states and taxes and it should become currency for taxes. How's that? If Bitcoin should replace fiat as a full-fledged currency used as a means of payment, there shouldn't be any issues with taxes. Simply because there wouldn't be any taxes associated with Bitcoin possession or its use at all. Currency itself is not taxable

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Quote from: Bitcoinsummoner on December 18, 2016, 01:00:48 PM

Quote from: Mastsetad on December 18, 2016, 11:48:50 AM

Quote from: TheHost on December 17, 2016, 03:59:00 PM

Probably bitcoin will never replace dollar, IMO at most it will become widely used, similar to euro in Europe.

Certainly, for sure it can or it will be used widely in the world after a few years, though it is already used worldwide but it will get more popular with time but as you said it wont be able to replace a currency like dollar which is used in a large extent in the world.

Bitcoin is just a good alternative payment and bitcoin is less hassle than the other payment proccessor..
dollar is our main money and it is impossible that bitcoin will replace bitcoin. how about if we have mo internet so bitcoin is useless and usd will be still need to use..

The confirmation time is too long.

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Quote from: Mastsetad on December 18, 2016, 11:48:50 AM

Quote from: TheHost on December 17, 2016, 03:59:00 PM

Probably bitcoin will never replace dollar, IMO at most it will become widely used, similar to euro in Europe.

Certainly, for sure it can or it will be used widely in the world after a few years, though it is already used worldwide but it will get more popular with time but as you said it wont be able to replace a currency like dollar which is used in a large extent in the world.

Bitcoin is just a good alternative payment and bitcoin is less hassle than the other payment proccessor..
dollar is our main money and it is impossible that bitcoin will replace bitcoin. how about if we have mo internet so bitcoin is useless and usd will be still need to use..

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Quote from: Mastsetad on December 18, 2016, 11:48:50 AM

Quote from: TheHost on December 17, 2016, 03:59:00 PM

Probably bitcoin will never replace dollar, IMO at most it will become widely used, similar to euro in Europe.

Certainly, for sure it can or it will be used widely in the world after a few years, though it is already used worldwide but it will get more popular with time but as you said it wont be able to replace a currency like dollar which is used in a large extent in the world.

Nevertheless, popularity isn't the only one thing which bitcoin requires to be a currency like a dollar. With that BTC also has to be currency that used by states. Since this use is supposed to be total, BTC also ought become currency for taxes.
However, that'll kill BTC. BTC is special just because it exists without states and taxes. And BTC replaced USD will became a new USD.
When BTC fights ~~monster~~ USD, it becomes ~~monster~~ USD (allusion to Nietzsche).

Mastsetad

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Quote from: TheHost on December 17, 2016, 03:59:00 PM

Probably bitcoin will never replace dollar, IMO at most it will become widely used, similar to euro in Europe.

Certainly, for sure it can or it will be used widely in the world after a few years, though it is already used worldwide but it will get more popular with time but as you said it wont be able to replace a currency like dollar which is used in a large extent in the world.

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Quote from: boyptc on December 16, 2016, 11:22:26 PM

Quote from: deppil on December 16, 2016, 11:04:59 PM

Quote from: qiumingsa on December 16, 2016, 10:48:39 PM

I honestly don't think it'll happen, certainly not in 15 years......Perhaps in my lifetime can not see it, it is difficult to predict, who can guess......

I think so, I did not know it would happen or not, but I think for the rest of our lives. in this era, we will not be able to see into the main currency bitcoin, regardless it will happen or not

15 years is not even enough just to replace the usage of dollar in the USA. That's a very impossible thing that the government is going to allow its financial system be destroyed by a decentralized crypto currency unless a government has control for everything they will allow it to happen, for the supply, demand , hoarding and everything.

America does like power, and they does control their currencie, i doubt the most used currencie will allow any other to try to replace their dollar, it wont happen be realistic, dollars is used for almost all transactions worldwide between countries, is an used as asset at some countries. Bitcoin isnt here to replace any currencie, but it can open the eyes and show to all the waste they are taking with their transactions.

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Quote from: Finchy on July 29, 2015, 09:49:46 AM

It's not going to do it anytime soon or likely even within 15 years, but it could in our lifetime I reckon. I think more economic instability in certain countries and maybe another financial collapse/crisis will happen soon rather than later and that could bring in many new people to bitcoin which could have a snowball effect.

Quote from: randy8777 on July 29, 2015, 03:44:37 AM

absolutely not. there is no point in thinking it ever will replace any major fiat currency. just stop thinking/hoping that it will happen. it will not.

Why will it not? If in the future bitcoin keeps going up and fiat keeps going down which is what happens when they print more of it on a whim people might wise up. Money should grow over time not devalue and bitcoin could solve this and that's what's great about a deflationary currency.

may be, for the development of bitcoin now alone is good, especially if up to 15 years to come, I think it's quite possible

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Quote from: Drago2016 on December 17, 2016, 12:45:43 PM

Quote from: Boss CJ on December 17, 2016, 11:04:07 AM

Quote from: Abiky on July 29, 2015, 08:48:06 AM

I don't think Bitcoin will ever replace the dollar or euro. One of the facts is that it's price is very volatile. But I do think that it will become mainstream one day. Roll Eyes

I strongly agree with you. It's really hard to do that. Bitcoin could just be one of he highest value just like gold but not as fiat, each country won't allow that to replace their respective currency which each country represents.

Yes, Bitcoin can not be compared with a centralized exchange. It is an alternative currency, and will never replace the Fiat. This is completely different system. On each of them has its own factors

for the moment, I do not think that bitcoin is able to replace the dollar, as I'm sure it would have a major adverse effects. but, I believe, that in the future, bitcoin able to compete with the dollar, even I feel that bitcoin will be recognized as an international currency, like the dollar for the time being, even today the majority of users bitcoin has been aware of it.

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Quote from: TheHost on December 17, 2016, 03:59:00 PM

Probably bitcoin will never replace dollar, IMO at most it will become widely used, similar to euro in Europe.

It might do in a few decades.

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Probably bitcoin will never replace dollar, IMO at most it will become widely used, similar to euro in Europe.

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Quote from: Boss CJ on December 17, 2016, 11:04:07 AM

Quote from: Abiky on July 29, 2015, 08:48:06 AM

I don't think Bitcoin will ever replace the dollar or euro. One of the facts is that it's price is very volatile. But I do think that it will become mainstream one day. Roll Eyes

I strongly agree with you. It's really hard to do that. Bitcoin could just be one of he highest value just like gold but not as fiat, each country won't allow that to replace their respective currency which each country represents.

Yes, Bitcoin can not be compared with a centralized exchange. It is an alternative currency, and will never replace the Fiat. This is completely different system. On each of them has its own factors

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