Do You Think Bitcoin Will Replace Dollar Soon? - page 168.

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Quote from: Natalim on November 25, 2016, 08:47:02 PM

US is a strong country with a strong economy, I guess almost all country accepts dollar and I can say it's dominant. Though in this world, fiat inflate it's value but not so fast with dollars. People has the choice whether to invest their money in bitcoin as we believe it will be big in the future but not to the point that it's going to replace it.

Exactly. It will be extremely difficult for BTC to replace fiat currencies like the USD, but at least it makes it an alternative way to transact with other people in a freely and decentralized way. Maybe sometime in the future, we will get to see a new version of USD backed by the government, but this time using block chain technology which would make transactions near instant and at the same time secure.

Since it is possible to trace transactions much easier with block chain technology, than cash itself, then I think that this will be the path that the government will go towards the future. It this happens, then there would be practically no privacy at all since the government would be watching every single transaction you make, at any given point in time. Just sharing my thoughts. Grin

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Quote from: Bitcoin0916 on November 28, 2016, 11:34:33 PM

Quote from: Cangkeman Wae on November 28, 2016, 09:29:01 PM

"soon" I think relative, can be less than 1 year, 2 years, 10 years and so on. I sure the American Government as the owner of dollar certainly wouldn't allow it, and it seems the bitcoin only as commodities.

But the American economy and the dollar has been very weakened in recent years, especially China's increasingly aggressive. If 10 years again I think it is still not possible, but after 25 years I sure bitcoin can replace the dollar.

How can you say that the economic position of USA is decreasing, and USD is also becoming devalued ?
I think USA’s economy is becoming more and more strengthen from time to time and the USD is also becoming more and more stable as compare to previous position of USD. I think bitcoin cannot replace USD so easily. It will really take centuries I think.

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For Bitcoin to replace the dollar there has to be something to trigger the whole process like hyper inflation in US of A which is unlikely to happen as the currency needs to be centralized and taxable to be a govt recognized money....so for now this scenario isn't happening

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Quote from: Cangkeman Wae on November 28, 2016, 09:29:01 PM

"soon" I think relative, can be less than 1 year, 2 years, 10 years and so on. I sure the American Government as the owner of dollar certainly wouldn't allow it, and it seems the bitcoin only as commodities.

But the American economy and the dollar has been very weakened in recent years, especially China's increasingly aggressive. If 10 years again I think it is still not possible, but after 25 years I sure bitcoin can replace the dollar.

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Quote from: BlackBaron on November 28, 2016, 06:40:40 PM

I think for 10 years next it will be impossible for bitcoin to replace dollar, as we know fiat still dominate against cryptocurrencies
and another factor is because not all people can operate a gadget moreover using bitcoin

After 10 years, most people already know how to operate gadgets and some of those old fellas who don't use gadget might probably already dead, so that is not a problem in using bitcoin. I do believe that dollar will never be dethrone by bitcoin. It will need a miracle to take it down. Dollar is legally distributed and backed by the government while bitcoin is not, and if bitcoin is already distributed by the government, I'm afraid that it will be the end of decentralization.

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"soon" I think relative, can be less than 1 year, 2 years, 10 years and so on. I sure the American Government as the owner of dollar certainly wouldn't allow it, and it seems the bitcoin only as commodities.

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Quote from: MingLee on November 28, 2016, 06:54:33 PM

Bitcoin is at least one massive economic collapse from reaching a point where it can replace the dollar, but it isn't entirely possible to imagine it actually being able to reach that position either.

Fiat money will always be pushed by the government and they will never want to relinquish their control on the hold they have. If Bitcoin was to ever be in a position like that, you would likely expect for the government to try and secure control forcefully.

In an economic collapse, it's more likely that people abandon bitcoin than embrace it. Bitcoin is volatile and extremely risky. When things are falling apart, people flee risk for traditionally safe investments like gold, silver, and treasuries. This is far more likely than a collapse pushing a volatile and unproven asset into a position of predominance over the USD.

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Bitcoin is at least one massive economic collapse from reaching a point where it can replace the dollar, but it isn't entirely possible to imagine it actually being able to reach that position either.

Fiat money will always be pushed by the government and they will never want to relinquish their control on the hold they have. If Bitcoin was to ever be in a position like that, you would likely expect for the government to try and secure control forcefully.

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I think for 10 years next it will be impossible for bitcoin to replace dollar, as we know fiat still dominate against cryptocurrencies
and another factor is because not all people can operate a gadget moreover using bitcoin

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Quote from: diegz on November 24, 2016, 09:25:57 PM

Quote from: Shenzou on November 24, 2016, 02:49:14 PM

In 15 years, hmmmm that is a short time the only way that bitcoin is going to replace USD is if there was a major economic crisis and banks wouldn't be able to provide any currency for their customers then the only alternative they will have will be the online payment which is bitcoin, Any one who watched MR Robot will understand what i am talking about Wink

Nowadays, economic crisis can be predicted and government of a certain country where the crisis will came, could do preventive measures, or if they can't do it, they will do something to lessen the effect. When it comes to alternatives, they will consider what is legal first before ending up with bitcoin. Regarding about the dollar, bitcoin will need a very strong force to dethrone it.

If economic crisis could be predicted, there would never be economic crises. Look at the housing crash of 2007/2008. It was so large that it caused a worldwide recession, and yet virtually nobody saw it coming. Perhaps some crises can be predicted or surmised by a small percentage of people in each circumstance, but to operate from the assumption that we cannot be blindsided by an economic crisis is to ignore the reality that nearly every one catches the world off guard, otherwise we would have been able to act to minimize its effects.

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Quote from: Mastsetad on November 28, 2016, 11:46:53 AM

Quote from: StarofBTC on November 28, 2016, 11:27:31 AM

In present time it look like impossible but in future I think when all the people of the world will start using bitcoin and when bitcoin will provide all kind of facilities to you then it will become possible for bitcoin to replace dollars or any other fiat currency as people at that time will give preference to bitcoin, but I think it will take decades.

That would only happen if there will be no governmental system in the world, because as long as governments would be there, they wont let bitcoin become the primary currency for their countries as they can have no control on bitcoin nor they can produce more of it.

It's all a matter of interest, if people decide to use massively bitcoin they will have no alternative than using it too.

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Quote from: StarofBTC on November 28, 2016, 11:27:31 AM

In present time it look like impossible but in future I think when all the people of the world will start using bitcoin and when bitcoin will provide all kind of facilities to you then it will become possible for bitcoin to replace dollars or any other fiat currency as people at that time will give preference to bitcoin, but I think it will take decades.

That would only happen if there will be no governmental system in the world, because as long as governments would be there, they wont let bitcoin become the primary currency for their countries as they can have no control on bitcoin nor they can produce more of it.

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Quote from: StarofBTC on November 28, 2016, 11:27:31 AM

Quote from: crockoo on November 25, 2016, 01:44:03 PM

I am sure that Bitcoin will not be able to replace the dollar. Each of them has its own path and its functions. Bitcoin alternative currency, and many do not know about it. Dollar know everything in all countries

In present time it look like impossible but in future I think when all the people of the world will start using bitcoin and when bitcoin will provide all kind of facilities to you then it will become possible for bitcoin to replace dollars or any other fiat currency as people at that time will give preference to bitcoin, but I think it will take decades.

I doubt dollar or any other currencie will be replaced by bitcoin, even if we reach all people in the world, and price achieve 50000 dollars for each bitcoin, even being an amazing option as payment and currencie, countries cant allow bitcoin to replace their currency, that would make them loose the control.

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Quote from: crockoo on November 25, 2016, 01:44:03 PM

I am sure that Bitcoin will not be able to replace the dollar. Each of them has its own path and its functions. Bitcoin alternative currency, and many do not know about it. Dollar know everything in all countries

In present time it look like impossible but in future I think when all the people of the world will start using bitcoin and when bitcoin will provide all kind of facilities to you then it will become possible for bitcoin to replace dollars or any other fiat currency as people at that time will give preference to bitcoin, but I think it will take decades.

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Quote from: gabmen on November 28, 2016, 05:18:15 AM

Quote from: Catlonid on November 28, 2016, 05:06:43 AM

Quote from: traderethereum on November 28, 2016, 02:06:08 AM

i think its hard for bitcoin to replace dollar soon because we all know that bitcoin is still young for now, beside that we know the dollar history and its need many thing if bitcoin want to replace dollar and i don't think its could be happen in 5 years until 10 years especially bitcoin is in 7 years from first launching. so maybe not so soon enough but if we can see the number of people which using bitcoin is growing from time to time, then it could be happen for someday.

I think you are right. Bitcoin is to hardly too replaced dollar. The dollar is international currency and a dollar was accepted in All the world. I think if you say someday it can happen but don't know when surely. I hope bitcoin does not disappear although not replaced a dollar.

Well good for us of that wpuld happen since we're right now enjoying the benefits of bitcoin although as both of you've said, it would be fatfetched that bitcoin can replace any fiat currency anytime soon. Too many factors to consider. There's a possibility but i don't think we'd be able to see it happen in our lifetime

It's pretty far from happening, dollar will remain strong as it is currently and even bitcoin will be more popular and widely use by the people, we still cannot erase the fact that there's a big risk is using bitcoin.

That risk alone are a big problem of the user also.

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Quote from: Catlonid on November 28, 2016, 05:06:43 AM

Quote from: traderethereum on November 28, 2016, 02:06:08 AM

i think its hard for bitcoin to replace dollar soon because we all know that bitcoin is still young for now, beside that we know the dollar history and its need many thing if bitcoin want to replace dollar and i don't think its could be happen in 5 years until 10 years especially bitcoin is in 7 years from first launching. so maybe not so soon enough but if we can see the number of people which using bitcoin is growing from time to time, then it could be happen for someday.

I think you are right. Bitcoin is to hardly too replaced dollar. The dollar is international currency and a dollar was accepted in All the world. I think if you say someday it can happen but don't know when surely. I hope bitcoin does not disappear although not replaced a dollar.

Well good for us of that wpuld happen since we're right now enjoying the benefits of bitcoin although as both of you've said, it would be fatfetched that bitcoin can replace any fiat currency anytime soon. Too many factors to consider. There's a possibility but i don't think we'd be able to see it happen in our lifetime

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Quote from: traderethereum on November 28, 2016, 02:06:08 AM

i think its hard for bitcoin to replace dollar soon because we all know that bitcoin is still young for now, beside that we know the dollar history and its need many thing if bitcoin want to replace dollar and i don't think its could be happen in 5 years until 10 years especially bitcoin is in 7 years from first launching. so maybe not so soon enough but if we can see the number of people which using bitcoin is growing from time to time, then it could be happen for someday.

I think you are right. Bitcoin is to hardly too replaced dollar. The dollar is international currency and a dollar was accepted in All the world. I think if you say someday it can happen but don't know when surely. I hope bitcoin does not disappear although not replaced a dollar.

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i think its hard for bitcoin to replace dollar soon because we all know that bitcoin is still young for now, beside that we know the dollar history and its need many thing if bitcoin want to replace dollar and i don't think its could be happen in 5 years until 10 years especially bitcoin is in 7 years from first launching. so maybe not so soon enough but if we can see the number of people which using bitcoin is growing from time to time, then it could be happen for someday.

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Quote from: Positid on November 28, 2016, 01:43:27 AM

Quote from: sobsitesearch on November 28, 2016, 01:09:41 AM

Quote from: diegz on November 28, 2016, 12:56:56 AM

Quote from: chineseprancing on November 28, 2016, 12:48:46 AM

I do not think that bitcoin can replace dollar in the future because dollar is much usable than bitcoin for more people specially for those people who do not have access in digital currency which is bitcoin.

If all the features that dollar have right now, and bitcoin has it all also, then bitcoin will really replace dollar. It is a strong currency and I think it will took a very strong force to take it down. But now, I love to see bitcoin like this, who knows, if it replace dollar, then the next thing that will happen is the centralization, which is against the real idea of bitcoin.

I am not agree that dollar will replace by bitcoin even bitcoin would be centralized currency i think it will be additional currency and no other currency will replace because of strong value of bitcoin.

Too early to tell that dollar will replace bitcoin, for me it's not possible to make that happen. The price of bitcoin is increasing and it has a good value now but despite of the reality, it cannot take over the popularity o dollar. It will win remain this way and in the current situation.

And because of Trump's leadership still its early to say that also because the impact of Trump's presidency is a good significance that dollar is becoming stronger.

That's why it is going to be hard for bitcoin to replace dollar but it would be easy for dollar to make bitcoins disappear because value of bitcoin is depending to dollar.

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Quote from: sobsitesearch on November 28, 2016, 01:09:41 AM

Quote from: diegz on November 28, 2016, 12:56:56 AM

Quote from: chineseprancing on November 28, 2016, 12:48:46 AM

I do not think that bitcoin can replace dollar in the future because dollar is much usable than bitcoin for more people specially for those people who do not have access in digital currency which is bitcoin.

If all the features that dollar have right now, and bitcoin has it all also, then bitcoin will really replace dollar. It is a strong currency and I think it will took a very strong force to take it down. But now, I love to see bitcoin like this, who knows, if it replace dollar, then the next thing that will happen is the centralization, which is against the real idea of bitcoin.

I am not agree that dollar will replace by bitcoin even bitcoin would be centralized currency i think it will be additional currency and no other currency will replace because of strong value of bitcoin.

Too early to tell that dollar will replace bitcoin, for me it's not possible to make that happen. The price of bitcoin is increasing and it has a good value now but despite of the reality, it cannot take over the popularity o dollar. It will win remain this way and in the current situation.

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