Do You Think Bitcoin Will Replace Dollar Soon? - page 220.

lister storm

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Quote from: beduku22 on April 17, 2016, 01:05:09 PM

Quote from: sidrab14 on April 17, 2016, 12:49:57 PM

Quote from: xIIImaL on April 17, 2016, 12:45:55 PM

Quote from: adomers on April 17, 2016, 12:00:48 PM

Bitcoin can't replace dollar sooner or later. If that happen all daily life will change in blink of an eye for short time from now. Maybe it will happen replacing btc to usd step by step to change everything

I don't think that bitcoin will replace the dollar, at least not any time soon. I do believe that in the near future more people will adapt to bitcoin and start letting go of bitcoin

Bitcoin is an extraordinary innovation. It will never replace the dollar..

everyone still uses the dollar as their main currency. I think the deployment of bitcoin is slow..

bitcoin will surely be way much more popular after a few years in my opinion and it wil develop at a very rapid pace pretty soon we just need to wait way more time than now

i hope that my predictions are really correct right now and that i will make a lot of money in the future, that would surely mean that bitcoin will replace fiat in the future

bones261

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Quote from: sidrab14 on April 17, 2016, 12:49:57 PM

Quote from: xIIImaL on April 17, 2016, 12:45:55 PM

Quote from: adomers on April 17, 2016, 12:00:48 PM

Bitcoin can't replace dollar sooner or later. If that happen all daily life will change in blink of an eye for short time from now. Maybe it will happen replacing btc to usd step by step to change everything

I don't think that bitcoin will replace the dollar, at least not any time soon. I do believe that in the near future more people will adapt to bitcoin and start letting go of bitcoin

Bitcoin is an extraordinary innovation. It will never replace the dollar..

What will probably happen is there will be blockchains created to do electronic transfers less expensively. However, our economic system relies on the fiat system. We need a system that can accommodate banks holding a fractional reserve, so credit can be easily extended. IF BTC replaced the dollar, the banks would have to basically issue BTC IOU's, since you can't really double spend a BTC. We'd end up just having a BTC backed monetary system, like we used to have a gold backed or silver backed monetary system.
Bitcoin will always be a great alternative to fiat. However; I do not think it will ever replace it.

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Quote from: sidrab14 on April 17, 2016, 12:49:57 PM

Quote from: xIIImaL on April 17, 2016, 12:45:55 PM

Quote from: adomers on April 17, 2016, 12:00:48 PM

Bitcoin can't replace dollar sooner or later. If that happen all daily life will change in blink of an eye for short time from now. Maybe it will happen replacing btc to usd step by step to change everything

I don't think that bitcoin will replace the dollar, at least not any time soon. I do believe that in the near future more people will adapt to bitcoin and start letting go of bitcoin

Bitcoin is an extraordinary innovation. It will never replace the dollar..

everyone still uses the dollar as their main currency. I think the deployment of bitcoin is slow..

sidrab14

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Quote from: xIIImaL on April 17, 2016, 12:45:55 PM

Quote from: adomers on April 17, 2016, 12:00:48 PM

Bitcoin can't replace dollar sooner or later. If that happen all daily life will change in blink of an eye for short time from now. Maybe it will happen replacing btc to usd step by step to change everything

I don't think that bitcoin will replace the dollar, at least not any time soon. I do believe that in the near future more people will adapt to bitcoin and start letting go of bitcoin

Bitcoin is an extraordinary innovation. It will never replace the dollar..

xIIImaL

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Quote from: adomers on April 17, 2016, 12:00:48 PM

Bitcoin can't replace dollar sooner or later. If that happen all daily life will change in blink of an eye for short time from now. Maybe it will happen replacing btc to usd step by step to change everything

I don't think that bitcoin will replace the dollar, at least not any time soon. I do believe that in the near future more people will adapt to bitcoin and start letting go of bitcoin

Barbut

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I don't think that can happen. That sound too good to be truth. Lets say it happen, for example what could we can expect then in this world. New world order?
Even if something like that happen it will be for 100 or 1000 years, and that is not soon at all.

adomers

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Bitcoin can't replace dollar sooner or later. If that happen all daily life will change in blink of an eye for short time from now. Maybe it will happen replacing btc to usd step by step to change everything

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Quote from: CryingMidget on April 17, 2016, 12:16:42 AM

Quote from: BitcoinPaw on April 16, 2016, 09:01:37 PM

Quote from: bones261 on April 16, 2016, 10:14:58 AM

Another problem with Bitcoin is that is is really too rare to replace the dollar. With a little less than 15.5 million BTC and a little over 7.1 billion people, that only leaves an average of about .0022 per person. There would be a lot of micro transactions having to be processed by the BTC network. The BTC network is already bogged down. Can you imagine the problems the network would have if it's traffic increased like a million fold? It would probably take weeks to get the 1st confirmation, if someone bought something small, like a candy bar.
Also, there would eventually be a lot of microinputs that would have sizes so large, they may never get processed.

I am fully agree with you and also if bitcoin will replace dollar what will change? The name of currency or what? Goverment will make some stuff with bitcoin and everything will become like in past times.

Even I but. Dollar is very popular currency I mean it is widely used and everyone knows about it and used it it somehow, when Biticoin replace it I think it is possible through time, maybe decades from now we'll use biticoin instead of the dollar.

The dollar is widely used, but the reason why it is the dominant currency is because it has the faith of multiple governments and trade is conducted in it. Bitcoin still has some distance to go before governments start trusting it.

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Quote from: vero on April 17, 2016, 01:09:53 AM

Quote from: DeDordtenaar on April 15, 2016, 09:54:20 PM

Quote from: expert4knowledge on April 14, 2016, 03:03:15 PM

Quote from: HarryKPeters on April 11, 2016, 04:15:48 PM

No the bitcoin will not replace the dollar because the bitcoin is too small what already has been mentioned.
I think soon or later it could be possible but anytime soon it will not happen because too many people are depending on the dollar and the bitcoin is even depending on the dollar these days..

Bitcoiin and dollar are two different concepts and I think bitcoin will never replace dollar, bitcoin is like gold and not a currency in my opinion.

I think the concepts both have in common. which is equally currencies You know a country is not able to use two currencies at once formally ?
so I hope bitcoin can defeat dollar Cheesy

state what you mean and what the currency if like dollar, pounds, euro ... I think will be easy to using that's three currencies wherever you are.

In every country you can use different kinds of currency specially the big currency out there.
Bitcoin wont be replacing dollar well not in the years that will be passing by.

vero

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Quote from: DeDordtenaar on April 15, 2016, 09:54:20 PM

Quote from: expert4knowledge on April 14, 2016, 03:03:15 PM

Quote from: HarryKPeters on April 11, 2016, 04:15:48 PM

No the bitcoin will not replace the dollar because the bitcoin is too small what already has been mentioned.
I think soon or later it could be possible but anytime soon it will not happen because too many people are depending on the dollar and the bitcoin is even depending on the dollar these days..

Bitcoiin and dollar are two different concepts and I think bitcoin will never replace dollar, bitcoin is like gold and not a currency in my opinion.

I think the concepts both have in common. which is equally currencies You know a country is not able to use two currencies at once formally ?
so I hope bitcoin can defeat dollar Cheesy

state what you mean and what the currency if like dollar, pounds, euro ... I think will be easy to using that's three currencies wherever you are.

CryingMidget

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Quote from: BitcoinPaw on April 16, 2016, 09:01:37 PM

Quote from: bones261 on April 16, 2016, 10:14:58 AM

Another problem with Bitcoin is that is is really too rare to replace the dollar. With a little less than 15.5 million BTC and a little over 7.1 billion people, that only leaves an average of about .0022 per person. There would be a lot of micro transactions having to be processed by the BTC network. The BTC network is already bogged down. Can you imagine the problems the network would have if it's traffic increased like a million fold? It would probably take weeks to get the 1st confirmation, if someone bought something small, like a candy bar.
Also, there would eventually be a lot of microinputs that would have sizes so large, they may never get processed.

I am fully agree with you and also if bitcoin will replace dollar what will change? The name of currency or what? Goverment will make some stuff with bitcoin and everything will become like in past times.

Even I but. Dollar is very popular currency I mean it is widely used and everyone knows about it and used it it somehow, when Biticoin replace it I think it is possible through time, maybe decades from now we'll use biticoin instead of the dollar.

BitcoinPaw

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Quote from: bones261 on April 16, 2016, 10:14:58 AM

Another problem with Bitcoin is that is is really too rare to replace the dollar. With a little less than 15.5 million BTC and a little over 7.1 billion people, that only leaves an average of about .0022 per person. There would be a lot of micro transactions having to be processed by the BTC network. The BTC network is already bogged down. Can you imagine the problems the network would have if it's traffic increased like a million fold? It would probably take weeks to get the 1st confirmation, if someone bought something small, like a candy bar.
Also, there would eventually be a lot of microinputs that would have sizes so large, they may never get processed.

I am fully agree with you and also if bitcoin will replace dollar what will change? The name of currency or what? Goverment will make some stuff with bitcoin and everything will become like in past times.

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Quote from: DashCoinDark on April 15, 2016, 03:26:52 AM

Its not possible that it will happen soon, there are a lot of people that is still using their Dollars because a lot of people doesnt even know how Bitcoin works and that is the problem.
It can only replace dollar if the value will rise and if more stores make Bitcoin also acceptable.

of course bitcoin not have great power to be aligned with the dollar let alone replace it. it was impossible to state the current bitcoin. but the time will continue to run maybe in the future will happen
but it does not have a warranty ? so I think bitcoin need to become more sophisticated to be able to replace dollar

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Quote from: jak1 on April 16, 2016, 10:39:47 AM

Quote from: Mr. Big on April 16, 2016, 12:33:09 AM

Quote from: richjohn on April 16, 2016, 12:11:12 AM

I already saw a topic similar to this one. Well, bitcoin will not replace dollar because it only acceptable in the internet and not in the reality. If bitcoin will do it paper money or something coins, then that is the time bitcoin will be accepted by everyone.

I disagree with you mate, even without printed paper form, bitcoin is acceptable in some places in groceries, just look for that video of a couple shoot last 2013 who did a shopping at a grocery and they use bitcoin as payment...By that, I could tell that bitcoin would be an alternative money even in real life...

Dollar is Dollar. We cant replace it very soon. But what bitcoin can do is give a good competition to bitcoins. Even now people converts their bitcoins to dollars and then spend it.

Yeah bitcoin can replace dollar not even in many year to pass,bitcoin will be bitcoin a crypto currency and will remain a crypto currency who is only good at internet.

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Quote from: Mr. Big on April 16, 2016, 12:33:09 AM

Quote from: richjohn on April 16, 2016, 12:11:12 AM

I already saw a topic similar to this one. Well, bitcoin will not replace dollar because it only acceptable in the internet and not in the reality. If bitcoin will do it paper money or something coins, then that is the time bitcoin will be accepted by everyone.

I disagree with you mate, even without printed paper form, bitcoin is acceptable in some places in groceries, just look for that video of a couple shoot last 2013 who did a shopping at a grocery and they use bitcoin as payment...By that, I could tell that bitcoin would be an alternative money even in real life...

Dollar is Dollar. We cant replace it very soon. But what bitcoin can do is give a good competition to bitcoins. Even now people converts their bitcoins to dollars and then spend it.

bones261

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Another problem with Bitcoin is that is is really too rare to replace the dollar. With a little less than 15.5 million BTC and a little over 7.1 billion people, that only leaves an average of about .0022 per person. There would be a lot of micro transactions having to be processed by the BTC network. The BTC network is already bogged down. Can you imagine the problems the network would have if it's traffic increased like a million fold? It would probably take weeks to get the 1st confirmation, if someone bought something small, like a candy bar.
Also, there would eventually be a lot of microinputs that would have sizes so large, they may never get processed.

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Quote from: richjohn on April 16, 2016, 12:11:12 AM

I already saw a topic similar to this one. Well, bitcoin will not replace dollar because it only acceptable in the internet and not in the reality. If bitcoin will do it paper money or something coins, then that is the time bitcoin will be accepted by everyone.

Well, your point is right. But if bitcoin development want spread into real life, i think bitcoin will has a chance to replace dollar, but yeah it's hard to do that.

armansolis593

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Quote from: Mr. Big on April 16, 2016, 12:33:09 AM

Quote from: richjohn on April 16, 2016, 12:11:12 AM

I already saw a topic similar to this one. Well, bitcoin will not replace dollar because it only acceptable in the internet and not in the reality. If bitcoin will do it paper money or something coins, then that is the time bitcoin will be accepted by everyone.

I disagree with you mate, even without printed paper form, bitcoin is acceptable in some places in groceries, just look for that video of a couple shoot last 2013 who did a shopping at a grocery and they use bitcoin as payment...By that, I could tell that bitcoin would be an alternative money even in real life...

Yes there are a dew shop that is accepting bitcoin but it is not world wide and bitcoin wont replace the dollar because dollar is a great currency.

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Quote from: richjohn on April 16, 2016, 12:11:12 AM

I already saw a topic similar to this one. Well, bitcoin will not replace dollar because it only acceptable in the internet and not in the reality. If bitcoin will do it paper money or something coins, then that is the time bitcoin will be accepted by everyone.

I disagree with you mate, even without printed paper form, bitcoin is acceptable in some places in groceries, just look for that video of a couple shoot last 2013 who did a shopping at a grocery and they use bitcoin as payment...By that, I could tell that bitcoin would be an alternative money even in real life...

bones261

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Quote from: richjohn on April 16, 2016, 12:11:12 AM

I already saw a topic similar to this one. Well, bitcoin will not replace dollar because it only acceptable in the internet and not in the reality. If bitcoin will do it paper money or something coins, then that is the time bitcoin will be accepted by everyone.

Bitcoin is already available in paper form. It is called a paper wallet. You can print the QR code on paper.
Furthermore, most fiat these days are only electronic data, not real coins or paper. What do you think you are really exchanging when you use a debit or credit card?. Even a paper check these days is instantly turned into electronic form at a lot of places. Hell, they give the check back to you after they run it through their system.
However, I do not think Bitcoin will replace fiat for one simple reason. I do not see a way that you can create more Bitcoin by loaning it out to others. This is the main way banks create money, they loan it out. https://www.youtube.com/watch?v=JG5c8nhR3LE

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