Do You Think Bitcoin Will Replace Dollar Soon? - page 177.

cjmoles

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Quote from: Financial_Genius on October 27, 2016, 05:31:31 PM

Quote from: BitProdigy on July 29, 2015, 03:19:33 AM

I don't think "soon" but I do think after 15 years or so it is a definite possibility. "soon" i guess is a relative term.

This morning, the average global price of bitcoin crossed the $685; whereas last night the unit price of the digital currency was $664.The sharp rise in the price of bitcoin has followed a jump in demand for digital currency trading platforms OKCoin and Huobi, which focused on Chinese users. On 23 October, the daily volume of transactions on the OKCoin exceeded 2 million bitcoins. what's next?

^^^Yes....I've been scratching my head over this for the past week. Something is in the works.^^^

There is no doubt in my my mind that some sort of blockchain based digitial currency will be the predominately used means of exchange within the next 15 years and probably sooner. Digital exchange is already more predominate than cash so the transition will probably be surprisingly fluid and unnoticed by the general public.

Financial_Genius

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Quote from: BitProdigy on July 29, 2015, 03:19:33 AM

I don't think "soon" but I do think after 15 years or so it is a definite possibility. "soon" i guess is a relative term.

This morning, the average global price of bitcoin crossed the $685; whereas last night the unit price of the digital currency was $664.The sharp rise in the price of bitcoin has followed a jump in demand for digital currency trading platforms OKCoin and Huobi, which focused on Chinese users. On 23 October, the daily volume of transactions on the OKCoin exceeded 2 million bitcoins. what's next?

chesatochi

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Quote from: The_prodigy on October 27, 2016, 03:27:26 PM

How could you people tell that bitcoin gonna replace dollar ain't never happeb it's a myth or hoax if that happens many country will fall it just because of bitcoin for sure and for me Us is number money in the whole world and this is like a god for me.

For now the fiat currency will continue for many years to come. Bitcoin is a new way to exchange value with anybody in the world via the internet. I don't think the bitcoin will replace the fiat currency in my country...

The_prodigy

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How could you people tell that bitcoin gonna replace dollar ain't never happeb it's a myth or hoax if that happens many country will fall it just because of bitcoin for sure and for me Us is number money in the whole world and this is like a god for me.

stomachgrowls

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Quote from: tenk on October 27, 2016, 12:50:59 PM

I don't think so; it will surely get huge, but it will never be going to be replaced with the dollar.

If it is by any chance, that will cause a lot of confusion in people.

For example, you're buying something, and the seller says it costs you 1Dollar, that's normal. When bitcoin replaces the dollar and he converts that 1dollar to Bitcoin every hour the price changes? And people will surely have no idea how much it exactly costs in their currency, either the seller has to convert it to the USD too.

Well, maybe in the future we do not need any cash or real money instead we are using a card or some kind of verification for the owner. And bitcoin is not yet perfect, i mean it will takes years and decades for someone to discover a new ways for it to completely work and usable for everyone. anyway, i'm just talking about the future you know.

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Quote from: gabmen on October 27, 2016, 01:10:58 PM

Quote from: Kotone on October 27, 2016, 10:07:37 AM

Nope not really bitcoin is just a money from internet and if ever that bitcoin will be replacing dollar soon then means dollar will be depending on bitcoin and not bitcoin will depend on dollar. And i think bitcoin will be the main money for the world because dollar is famous and if that happens i think it's really imposible.

not really impossible but unlikely in the next couple of years or decades. as you've said not only bitcoin but most currencies are also dependent on the dollar. bitcoin would most likely play a part similar to that of a credit card right now. it's going to be widely used but the dollar would still be in control

Bitcoin is for online money just like paypal.. and i think they can not replace dollar since dollar is our main money and you can exchange usd in other country.. so it is impossible that bitcoin will replace dollar.. its impossible to imagine even in the future..

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Quote from: Kotone on October 27, 2016, 10:07:37 AM

Nope not really bitcoin is just a money from internet and if ever that bitcoin will be replacing dollar soon then means dollar will be depending on bitcoin and not bitcoin will depend on dollar. And i think bitcoin will be the main money for the world because dollar is famous and if that happens i think it's really imposible.

not really impossible but unlikely in the next couple of years or decades. as you've said not only bitcoin but most currencies are also dependent on the dollar. bitcoin would most likely play a part similar to that of a credit card right now. it's going to be widely used but the dollar would still be in control

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No, I don't. To be honest, I don't think bitcoin ever will. It's a great idea and ask, but it has its flaws. The dollar is now popular, more stable, and more easily understood, as all countries worldwide use the same money logic.

Bitcoin has the potential to become a secondary currency, but not the primary. Bitcoin is extremely volatile, and what money is is credit that you use to measure the value of your good. If your unit of measurement changes all the time, what's the point?

tenk

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I don't think so; it will surely get huge, but it will never be going to be replaced with the dollar.

If it is by any chance, that will cause a lot of confusion in people.

For example, you're buying something, and the seller says it costs you 1Dollar, that's normal. When bitcoin replaces the dollar and he converts that 1dollar to Bitcoin every hour the price changes? And people will surely have no idea how much it exactly costs in their currency, either the seller has to convert it to the USD too.

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Quote from: saiha on October 27, 2016, 11:34:47 AM

Oil is now dying and they can't even support dollars anymore. That is why dollar or let's say the US government is doing something to make their currency to keep on living.

By means of war, they are startling to make wars from middle east and now I think with China. So, my assumption the life of dollar will be dead soon.

That's why many investors sees that bitcoin is a good replacement.

Oil is a natural resource and it will eventually be all used up. Apparently, we use too much oil nowadays so it's running out sooner than we expect. Having bitcoin instead of any fiat currency will save you from the deflation that fiat could have in the future. The USA will have a new president soon so we'll see if what would happen to their economy. It can change or it could go down faster than it should be. We'll see.

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Quote from: kotwica666 on October 22, 2016, 09:57:32 AM

Quote from: DeDordtenaar on October 22, 2016, 08:10:48 AM

Quote from: Wowcoin on October 21, 2016, 04:56:11 AM

No never replace dollar by bitcoin because we all know that dollar is world currency so no one crypto currency replace dollar.

what if bitcoin be an option from the dollar to the currency of the world? I think that would be impossible to shift or replace dollars from the main venue. because I think the dollar has become a symbol for international currencies, and the dollar is also used by many countries for international transactions

Dollar is/was strong only because of oil. The era of oil is already slowly ends. It is just matter of time when electronic payment will take advantage on physical money. In Scandinavians countries already 50% of transactions that are digital transactions.. Time of dollar is running..

Oil is now dying and they can't even support dollars anymore. That is why dollar or let's say the US government is doing something to make their currency to keep on living.

By means of war, they are startling to make wars from middle east and now I think with China. So, my assumption the life of dollar will be dead soon.

That's why many investors sees that bitcoin is a good replacement.

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Quote from: Kotone on October 27, 2016, 10:07:37 AM

Nope not really bitcoin is just a money from internet and if ever that bitcoin will be replacing dollar soon then means dollar will be depending on bitcoin and not bitcoin will depend on dollar. And i think bitcoin will be the main money for the world because dollar is famous and if that happens i think it's really imposible.

I am also sure that this will not happen. Bitcoin has always been and will be an additional, alternative currency. Fiat will never disappear

Kotone

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Nope not really bitcoin is just a money from internet and if ever that bitcoin will be replacing dollar soon then means dollar will be depending on bitcoin and not bitcoin will depend on dollar. And i think bitcoin will be the main money for the world because dollar is famous and if that happens i think it's really imposible.

Gifted

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Quote from: deisik on October 27, 2016, 08:43:53 AM

Quote from: kotwica666 on October 22, 2016, 09:57:32 AM

Quote from: DeDordtenaar on October 22, 2016, 08:10:48 AM

Quote from: Wowcoin on October 21, 2016, 04:56:11 AM

No never replace dollar by bitcoin because we all know that dollar is world currency so no one crypto currency replace dollar.

what if bitcoin be an option from the dollar to the currency of the world? I think that would be impossible to shift or replace dollars from the main venue. because I think the dollar has become a symbol for international currencies, and the dollar is also used by many countries for international transactions

Dollar is/was strong only because of oil. The era of oil is already slowly ends. It is just matter of time when electronic payment will take advantage on physical money. In Scandinavians countries already 50% of transactions that are digital transactions.. Time of dollar is running..

I really don't get your point. What you say comes down to claiming that when oil price was at around $140 per barrel, the US dollar was stronger than when oil is at $50 per barrel, right? If the USDX is any metric of the strength of the American dollar, it has grown a few dozen percentages since oil began to spiral down in 2014...

Cheap oil is beneficial for the US economy, so in no case it can damage the US currency

Its because the dollar is used in all oil transactions, its a fact that you cant buy oil from any country unless you pay with American Money. I think this is what he meant that oil will lower the value when it becomes obsolete .

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Quote from: Galer on October 27, 2016, 09:35:07 AM

Quote from: Rmaqks on October 22, 2016, 04:35:48 PM

I think it will never happen. And Dollar and Bitcoin will live. These systems do not replace each other, but complementary. Everyone has the right to choose for him a comfortable system

Yeah dollar is the standard money we use in the real world and the bitcoin is the standard currency that we use in cyber world in every day transaction.But bitcoin cant replace dollar for now.

There is a lot of difference in that. You cant physically use bitcoin in an easy way which is really way too far from a fiat. There is no ease and convenience when making a actual trade like buying in a retail store unlike using fiat.

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Quote from: Rmaqks on October 22, 2016, 04:35:48 PM

I think it will never happen. And Dollar and Bitcoin will live. These systems do not replace each other, but complementary. Everyone has the right to choose for him a comfortable system

Yeah dollar is the standard money we use in the real world and the bitcoin is the standard currency that we use in cyber world in every day transaction.But bitcoin cant replace dollar for now.

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Quote from: kotwica666 on October 22, 2016, 09:57:32 AM

Quote from: DeDordtenaar on October 22, 2016, 08:10:48 AM

Quote from: Wowcoin on October 21, 2016, 04:56:11 AM

No never replace dollar by bitcoin because we all know that dollar is world currency so no one crypto currency replace dollar.

what if bitcoin be an option from the dollar to the currency of the world? I think that would be impossible to shift or replace dollars from the main venue. because I think the dollar has become a symbol for international currencies, and the dollar is also used by many countries for international transactions

Dollar is/was strong only because of oil. The era of oil is already slowly ends. It is just matter of time when electronic payment will take advantage on physical money. In Scandinavians countries already 50% of transactions that are digital transactions.. Time of dollar is running..

I really don't get your point. What you say comes down to claiming that when oil price was at around $140 per barrel, the US dollar was stronger than when oil is at $50 per barrel, right? If the USDX is any metric of the strength of the American dollar, it has grown a few dozen percentages since oil began to spiral down in 2014...

Cheap oil is beneficial for the US economy, so in no case it can damage the US currency

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Quote from: Wowcoin on October 21, 2016, 04:56:11 AM

No never replace dollar by bitcoin because we all know that dollar is world currency so no one crypto currency replace dollar.

I think of course bitcoin will not be able to replace the dollar as the currency of the United States the country, it is impossible thing
but I think it would be possible when the bitcoin replace the dollar as an international currency? I think it would be possible if many people around the world in various countries using bitcoin?

Gifted

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Never if the corrupt powers stay in Congress . They will always need control.. not to mention Bitcoin will not have enough zeros because the dollars is the worlds reserved note

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Quote from: Rmaqks on October 22, 2016, 04:35:48 PM

I think it will never happen. And Dollar and Bitcoin will live. These systems do not replace each other, but complementary. Everyone has the right to choose for him a comfortable system

It will happen, but maybe in decades. The bitcoin has a limited supply and the value will rise over time.

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