Do You Think Bitcoin Will Replace Dollar Soon? - page 174.

blackmagician

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Quote from: Huobi-USD on July 29, 2015, 02:13:36 AM

Coinbase CEO believes bitcoin will replace dollar within 15 years.

Read the following news:
http://cointelegraph.com/news/114983/coinbase-ceo-bitcoin-will-replace-dollar-within-15-years

Do you think it will be true? Are you positive towards bitcoin's future status?

Yes ,im one of the tons of believers of bitcoin. i agree that bitcoin will replace dollar soon.
This might takes its place on 2031. Where bitcoin is as high as the.moon.

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Quote from: dothebeats on November 13, 2016, 09:35:21 AM

Very unlikely since the dollar still has a larger backing and most of the people in this planet use the said currency even for their domestic transactions and such. Also, the world is not yet ready for a global overhaul of the currency system and fiat would still remain the dominant currency over other currencies available to the market and global economy.

Yes indeed very unlikely, even replacing any currency of developing nation. A nation's currency is the nation's distinction so i don't think that bitcoin will replace any currency, it will be more likely an alternative to the main currency of a nation, the possible highest place of bitcoin in ranking. There are several reason that has been stated in this thread about bitcoin not replacing any currency of the world. Bitcoin might inspired an innovation but it will never replace dollar or any currency of a nation.

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Very unlikely since the dollar still has a larger backing and most of the people in this planet use the said currency even for their domestic transactions and such. Also, the world is not yet ready for a global overhaul of the currency system and fiat would still remain the dominant currency over other currencies available to the market and global economy.

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Quote from: bitdumper on November 12, 2016, 01:12:58 PM

i do not think something like it because it already did. com'mon 700$ will get you 1bitcoin it is already rulling on everything at every country if you have bitcoins then you have the popularity and i am glad to be a bitcoiner

well it doesn't necessarily mean that because the price of bitcoin is higher than the dollar, it has the capability to replace it. I don't think it works that way. bitcoin is a cryptocurrency and the use of bitcoin today, even though it's beginning to get popular following, it still minimal since it's a digital currency. more people are still using the dollar, fiat currency, and I don't think that will chance for a long time. we may not even be here anymore if in case a time will come that crypto will replace fiat.

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This currency is not subject to inflation. This is not beneficial to the global financial magnate

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i do not think something like it because it already did. com'mon 700$ will get you 1bitcoin it is already rulling on everything at every country if you have bitcoins then you have the popularity and i am glad to be a bitcoiner

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Quote from: miscreantskua on November 12, 2016, 12:46:20 PM

No, it wont.. but who knows nothing is imposible

I think you're right. Bitcoin does not replace the dollar. Even for the reason that the government will not allow it

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Quote from: Aamir1 on November 12, 2016, 12:45:39 PM

Quote from: LuanX3 on November 12, 2016, 12:39:28 PM

Bitcoin will not yet replace the US dollar. First of all, bitcoin is not as versatile as USD. Second, the world has not yet fully accepted digital currencies as a medium of exchange and payment. Hence, we cannot see bitcoin to replace USD or any currency in the near future. But surely, digital currency will change the finance game! It's just a matter of time.

And besides all that, bitcoins are limited, there are a limited amount of bitcoins in circulation which i doubt would be able to fill the gap at all, because there are a extremely large number of USD in circulation right now in the world and bitcoin wont be able to cover all that.

Yeah in bitcoin there is a limitation and for usd or dollar there is no limitation because they can be still make a new money in their banks if government needs it... bitcoin will be stay as alternative payment and dollar will be stay remain.

miscreantskua

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No, it wont.. but who knows nothing is imposible

Aamir1

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Quote from: LuanX3 on November 12, 2016, 12:39:28 PM

Bitcoin will not yet replace the US dollar. First of all, bitcoin is not as versatile as USD. Second, the world has not yet fully accepted digital currencies as a medium of exchange and payment. Hence, we cannot see bitcoin to replace USD or any currency in the near future. But surely, digital currency will change the finance game! It's just a matter of time.

And besides all that, bitcoins are limited, there are a limited amount of bitcoins in circulation which i doubt would be able to fill the gap at all, because there are a extremely large number of USD in circulation right now in the world and bitcoin wont be able to cover all that.

LuanX3

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Bitcoin will not yet replace the US dollar. First of all, bitcoin is not as versatile as USD. Second, the world has not yet fully accepted digital currencies as a medium of exchange and payment. Hence, we cannot see bitcoin to replace USD or any currency in the near future. But surely, digital currency will change the finance game! It's just a matter of time.

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Quote from: madwica on November 02, 2016, 12:43:50 AM

For me its not this two was in a different category of currency that is why this two can not compete its other bitcoin is decentralized currency and dollar is centralized currency, more people look this with the same currency which is not.

but think we can compete both the currencies as both can be be use for same purpose, so i think in present time it is not so easy that bitcoin will replace USD, but in long run we can expect that, as people are now giving preference to online trading and bitcoin is the best option for them.

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We just have to remeber Americans are patriots and their money tells about their history and who they are. They wont just leave it behind for a cryptocurrency.

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Quote from: albertorma on November 10, 2016, 01:59:18 AM

I don't think so, bitcoin is unknown for most people, so It's almost impossible atm, who know in future.

Yes in my country hardly 0.01% people have any idea about what bitcoin is all about. I am sure bitcoin will keep gaining popularity and higher price but it will not bring any negative impact on the existence on fiat currency. Even if theoretically bitcoin can conquer the world, I don’t see any practical possibility of it anytime in near future.

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Quote from: gabmen on November 10, 2016, 08:06:22 AM

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.

yeah i think there is a possibility that it may be able to do just that, replace the dollar. although i think it most likely will happen not in our lifetime. it may take decades as fiat has been used too much and most are dependent in it. though a lot of people are using bitcoin already, it would be hard for other countries, especially poor countries that are having a hard time having internet available, to adopt a digital currency. so yes i also believe it can happen, but it will take a very long time

Possible situations might happen but same as you said it won really happen on our lifetime. As we all know that fiat is centralized by government and all of people do really use it for everyday basis and its the blood of a country where we are talking about economic state because if there no fiat a country would be weak for sure and no development hence fiat does circulates all over the world.

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Quote from: albertorma on November 10, 2016, 01:59:18 AM

I don't think so, bitcoin is unknown for most people, so It's almost impossible atm, who know in future.

It doesn't matter how many people know what Bitcoin. Bitcoin will never come into a position where it has even the slightest chance of replacing any kind of fiat currency.

Governments won't keep staring ahead of themselves and allow Bitcoin to grow to a level where it will form a danger to their economy and banking system.

Necessary actions will be taken to prevent Bitcoin from possibly doing so. But even without that, the average Joe will not put fiat aside for Bitcoin.

They fear Bitcoin because of the fact that there is no central authority taking care of everything like the governments do, while for us Bitcoiners the decentralized aspect is one of the best things.

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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.

yeah i think there is a possibility that it may be able to do just that, replace the dollar. although i think it most likely will happen not in our lifetime. it may take decades as fiat has been used too much and most are dependent in it. though a lot of people are using bitcoin already, it would be hard for other countries, especially poor countries that are having a hard time having internet available, to adopt a digital currency. so yes i also believe it can happen, but it will take a very long time

albertorma

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I don't think so, bitcoin is unknown for most people, so It's almost impossible atm, who know in future.

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Quote from: saiha on November 09, 2016, 11:26:14 PM

Quote from: Doamader on November 09, 2016, 07:00:17 PM

Bitcoin does have a team to develop further bitcoin to hanlde any issue it may have, besides that, itsnt controlled by them at all, dollars does have banks and a country that uses and does support dollar, besides the others countries use dollar for their saving purposes.

Those devs doesn't have the control anymore with what his happening with bitcoin. Their duty now is to maintain the system of bitcoin with the blockchain technology.

To secure its daily transactions and if possible some upgrades. And it is hard to think if dollar will be replaced by bitcoin soon.

If does so, then that's a good thing since we are one of early adopters already.

Dollar currency is knowned by all countries and it has been the standard and most popular currency among other currencies where as bitcoins is not fully introduced worldwide and it doesn't have a chance to replace the dollar.. and also bitcoin doesn't have any physical form (paper money or coins) / digital currency.

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Quote from: Doamader on November 09, 2016, 07:00:17 PM

Bitcoin does have a team to develop further bitcoin to hanlde any issue it may have, besides that, itsnt controlled by them at all, dollars does have banks and a country that uses and does support dollar, besides the others countries use dollar for their saving purposes.

Those devs doesn't have the control anymore with what his happening with bitcoin. Their duty now is to maintain the system of bitcoin with the blockchain technology.

To secure its daily transactions and if possible some upgrades. And it is hard to think if dollar will be replaced by bitcoin soon.

If does so, then that's a good thing since we are one of early adopters already.

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