Do You Think Bitcoin Will Replace Dollar Soon? - page 252.

bearex

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Quote from: avw1982 on January 02, 2016, 08:31:34 AM

Quote from: Rizky Aditya on January 02, 2016, 01:33:52 AM

Most people believe that Bitcoin will never replace the dollar, I am one of those people. I just never see Bitcoin replacing fiat, people love fiat too much for this to happen.

People doesn’t aware that much bitcoin that is reason for that dude. Now we can so many adaption taking place in many countries by companies around the world. And halving gonna happen Once these both done in bitcoin. Then Sure bitcoin will rule the world in USD’s place.

I dont know, i think we will still have some other currency, so you could calculate BTC price based on it. It will however be widely used on the internet i presume.

avw1982

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Quote from: Rizky Aditya on January 02, 2016, 01:33:52 AM

Most people believe that Bitcoin will never replace the dollar, I am one of those people. I just never see Bitcoin replacing fiat, people love fiat too much for this to happen.

People doesn’t aware that much bitcoin that is reason for that dude. Now we can so many adaption taking place in many countries by companies around the world. And halving gonna happen Once these both done in bitcoin. Then Sure bitcoin will rule the world in USD’s place.

angaper

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I don't think so, because the dollar is the universal currency accepted around the world with no problem, and I don't think the USA economy will lose its hegemony in 15 years.

greBit

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Quote from: Rizky Aditya on January 02, 2016, 01:33:52 AM

Most people believe that Bitcoin will never replace the dollar, I am one of those people. I just never see Bitcoin replacing fiat, people love fiat too much for this to happen.

Even I think Bitcoin was not replace dollars but can act as credit and debit card because nowadays we use Bitcoin to make online payment to buy stuffs.

Premium Account Reseller

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"Bitcoin is an extraordinary innovation. It also will never replace the dollar or the euro, what Murck refers to as “fiat currencies.” Fiat will win over bitcoin for the same reason it won over gold, silver, and copper in early modern Europe. Central banks, too, are a form of technology. Like other technologies, they’ve improved with iteration. Since the establishment of Sweden’s Riksbank at the end of the 17th century, central banks have been trying out new strategies, watching each other and copying what works."

"Fiat currency is not a unstable relic, waiting to be replaced with an innovation that prevents inflation. Fiat currency is a highly adapted tool. Inflation isn’t a bug. It’s a feature.
There’s a fight as old as money over who gets to determine what money is—the state or the market. Generally, states claim the right to make money. Whether they can hold on to that right depends on how good they are at making money, but they have gotten better at it over time."

Rizky Aditya

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Most people believe that Bitcoin will never replace the dollar, I am one of those people. I just never see Bitcoin replacing fiat, people love fiat too much for this to happen.

chennan

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Quote from: Denker on December 31, 2015, 02:46:43 PM

Quote from: HarizDB on December 31, 2015, 02:27:32 PM

Personally, I doubt that any digital valuta would, or could, replace the mighty US Dollar - since the implementation of the Bretton Woods system after WW2, the US Dollar has gained more and more 'trust', which led the US Dollar as the most used currency for multinational trade, which it also is today. That's my reasoning on why Bitcoin won't replace the US Dollar in a near future.

The USD is heading south like any other fiat currency on this planet.
More and more are trading with each other without using the green paper.They are ditchind the USD in foreign trading.
Also petrodollar is becoming less and less relevant.

Some older articles I've found quickly.

http://www.huffingtonpost.com/alastair-crooke/petrodollar-us-saudi-policy_b_6245914.html

http://www.forbes.com/sites/energysource/2014/05/29/the-colder-war-and-the-end-of-the-petrodollar/

http://www.zerohedge.com/news/2015-01-14/russia-just-pulled-itself-out-petrodollar

This however doesn't mean the USD will disappear the next decades.
But Bitcoin will hopefully be well known and used beside this shitty paper.

Idk.. The USD and other fiat money has been off the gold standard for some time now (I think like 30-40 years now?) and I just feel that something has got to give at some point IMO.

I just watched that new movie "The Big Short", and it's crazy how much, to me at least, it resembles what fiat is doing. It's promising store of value where there is no sound reasoning why there is a store of value, just that you should trust the government that the note you receive is worth X amount in goods and services.

Governments and nations have collapsed due to a bad economy and payment system in the past, and don't think the system we have going on is anything different.

chokesir

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No I don't see this happen.
Not in the short term, and in the long term.

The dollars has been embedded in to many global markets.

betohell

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Quote from: artows21 on January 01, 2016, 08:48:47 AM

I don't think. because bitcoin is virtual / never can replace dollar.. dollar is fiat and international, have law and bank.

You know bitcoin is not just virtual money not just for toys money
bitcoin is genuine money. which a lot of people and a variety of stores from around the world accept bitcoin
not a problem if bitcoin without permission from the government

artows21

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I don't think. because bitcoin is virtual / never can replace dollar.. dollar is fiat and international, have law and bank.

deisik

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Quote from: buddu on January 01, 2016, 08:23:46 AM

Dollar can not replaced by anything as long as it is backed by petrol.It is petrodollar alliance which is not only sustaining dollar but also is giving it strength.The day when petroleum market will adopt any other currency dollar will lost its value and will turn into a usual currency just like many others.

Well, if oil is sustaining the dollar strength as you imply, why didn't we see USDX go down a few times with oil prices receding as much?

In fact, it even grew as oil collapsed

fantoos

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Bitcoin has potential to dominate the world financial system by becoming global currency.I think we will need to wait for this happening in a decade or two with exception of unexpected events which can trigger this procedure.

buddu

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Dollar can not replaced by anything as long as it is backed by petrol.It is petrodollar alliance which is not only sustaining dollar but also is giving it strength.The day when petroleum market will adopt any other currency dollar will lost its value and will turn into a usual currency just like many others.

kheein

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Turn your financial ideas into reality

I do not think it will replace the dollar soon, perhaps when everybody took off all of its assets , and bought into bitcoin , and all transactions of goods and services using bitcoin , and it makes the dollar can be replaced with bitcoin

noone000

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I highly doubt that Bitcoin will ever replace major currency, let alone any time soon. I believe in the next 10-20 years, it will become accepted as payment by most businesses, but will not overtake the already established currencies such as the Dollar.

justspare

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I don't that Bitcoin will never replace fiat. You are asking the wrong question, you should be asking if Bitcoin will ever replace the dollar. Bitcoin is still in its early stages whereas fiat has been around for a very very long time. I don't ever think that Bitcoin will ever replace fiat. Somethings you will always need to use fiat to pay for. I think there will always be these 2 currencies in the world.

maokoto

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I do not think it will replace the dollar soon, but if by "soon" they mean 15 years, then yes, it seems like a real possibility for me. People are more and more in the Internet today, and more and more learn about Bitcoin. If there is a surge of people paying and accepting payments for things in the internet... it may well be.

Dux2K

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Simpke answer yes
Only mater is time

HarizDB

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Quote from: Denker on December 31, 2015, 02:46:43 PM

Quote from: HarizDB on December 31, 2015, 02:27:32 PM

Personally, I doubt that any digital valuta would, or could, replace the mighty US Dollar - since the implementation of the Bretton Woods system after WW2, the US Dollar has gained more and more 'trust', which led the US Dollar as the most used currency for multinational trade, which it also is today. That's my reasoning on why Bitcoin won't replace the US Dollar in a near future.

The USD is heading south like any other fiat currency on this planet.
More and more are trading with each other without using the green paper.
The petrodollar is becoming less and less relevant.

Some older articles I've found quickly.

http://www.huffingtonpost.com/alastair-crooke/petrodollar-us-saudi-policy_b_6245914.html

http://www.forbes.com/sites/energysource/2014/05/29/the-colder-war-and-the-end-of-the-petrodollar/

http://www.zerohedge.com/news/2015-01-14/russia-just-pulled-itself-out-petrodollar

This however doesn't mean the USD will disappear the next decades.
But Bitcoin will hopefully be well known and used beside this shitty paper.

I do agree.
The future of the USD is endangered of other currencies such as the Japanese and Chinese Yen and the Euro in international trade - but a currency not controlled by a central bank would never take over the USD as an international currency and especially as a national currency.

Denker

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Quote from: HarizDB on December 31, 2015, 02:27:32 PM

Personally, I doubt that any digital valuta would, or could, replace the mighty US Dollar - since the implementation of the Bretton Woods system after WW2, the US Dollar has gained more and more 'trust', which led the US Dollar as the most used currency for multinational trade, which it also is today. That's my reasoning on why Bitcoin won't replace the US Dollar in a near future.

The USD is heading south like any other fiat currency on this planet.
More and more are trading with each other without using the green paper.They are ditchind the USD in foreign trading.
Also petrodollar is becoming less and less relevant.

Some older articles I've found quickly.

http://www.huffingtonpost.com/alastair-crooke/petrodollar-us-saudi-policy_b_6245914.html

http://www.forbes.com/sites/energysource/2014/05/29/the-colder-war-and-the-end-of-the-petrodollar/

http://www.zerohedge.com/news/2015-01-14/russia-just-pulled-itself-out-petrodollar

This however doesn't mean the USD will disappear the next decades.
But Bitcoin will hopefully be well known and used beside this shitty paper.

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