A dollar bill also has no use other than what people are
willing to pay for it. And if people decide they wish to
trust the people who create Bitcoins more than their own
government, then perhaps it could be an alternative
medium of exchange.
the continious supply and demand in the market is keeping it alive so it connot replace it.
Topic: Do You Think Bitcoin Will Replace Dollar Soon? - page 263. (Read 417357 times)
Working with the middle class people can replace currency. In the meantime, for the production bitcoint, you have to be a miner. At MMM was a good idea to replace the dollar.
What? I don't understand what you are trying to say, are you saying you can replace the middle class currency, but in the meantime you have to be a miner to change the currency?
No.
Bitcoin will not be replacing the dollar anytime soon and you definitely don't have to be a miner
Working with the middle class people can replace currency. In the meantime, for the production bitcoint, you have to be a miner. At MMM was a good idea to replace the dollar.
a war against who? the miners? would be fun lol, they can't simply kill innocenet people, because the excuse is that bitcoin is destroying their fiat system
Many struggles facing bitcoin, and i dont see outright bans in the future.
But definitely expect extreme regulation that will suffocate it in many places. Governments like to suffocate industries with tens of thousands of pages of regulation, it makes them feel in charge of an uncontrollable currency.
Very well said. Bitcoin has a huge amount of different walls they are going to have to climb. At any point that wall can decide to push Bitcoin off as well. We have seen it with a few casinos where they can't play here or there because of laws.
a war against who? the miners? would be fun lol, they can't simply kill innocenet people, because the excuse is that bitcoin is destroying their fiat system
Many struggles facing bitcoin, and i dont see outright bans in the future.
But definitely expect extreme regulation that will suffocate it in many places. Governments like to suffocate industries with tens of thousands of pages of regulation, it makes them feel in charge of an uncontrollable currency.
No, Bitcoin will never replace USD as the US official currency, if that's what you mean. But this doesn't mean BTC won't become the most used currency worldwide.
if bitcoin become the king, like the usd it is right now, it would be enough to throw in a corner all the fiat, and fiat will only be seen as a niche market
the opposite of what we have right now, would be a great deal already
I don't think the government would ever allow that. I believe BTC would coexist with USD and Euro, both of which would refer to BTC. What I mean is that when you would google "USD" or "EUR", you would get "1 USD = x BTC" or "1 EUR = y BTC".
Exactly! Governments will never allow this. They will rather start a WW3 than to give a control of money. Because whoever controls money, controls everything else as well. It's always been like this.
That's why we don't need to dream that we will replace any Fiat currency out there. We don't need this quite honestly and this will never happen.
a war against who? the miners? would be fun lol, they can't simply kill innocenet people, because the excuse is that bitcoin is destroying their fiat system
BitCoin will not replace any Currency but will surpass them , Now as the price surges the influence will do the same , there will be one day when no man can deny Bitcoin as payment.\ , but the ordinary currency will grow along with it as it is the ordinary currency which let us to evaluate the value of BTC.
You have to look at it this way, there will probably be another big bubble coming up and the price will sky rocket and then ultimately pop at some price point; which will A) make people lose a lot of money (again) and/or B) make governments feel the need to restrict bitcoin or other crypto currencies even farther to help prevent this from happening and from allowing the majority of people to realize the power of a finite money system.
No, Bitcoin will never replace USD as the US official currency, if that's what you mean. But this doesn't mean BTC won't become the most used currency worldwide.
if bitcoin become the king, like the usd it is right now, it would be enough to throw in a corner all the fiat, and fiat will only be seen as a niche market
the opposite of what we have right now, would be a great deal already
I don't think the government would ever allow that. I believe BTC would coexist with USD and Euro, both of which would refer to BTC. What I mean is that when you would google "USD" or "EUR", you would get "1 USD = x BTC" or "1 EUR = y BTC".
Exactly! Governments will never allow this. They will rather start a WW3 than to give a control of money. Because whoever controls money, controls everything else as well. It's always been like this.
That's why we don't need to dream that we will replace any Fiat currency out there. We don't need this quite honestly and this will never happen.
My thoughts exactly.
Claims like this are fun to talk about but little more than good marketing for Coinbase. (Don't get me wrong, I like Coinbase). But no one can say for sure whether bitcoin will have staying power and significance to be considered the world's reserve currency ever let alone 15 years.
What I think is a better discussion to have about this is why would we want Bitcoin to be the world's reserve currency. Existing fiat currencies are controlled and manipulated by Governments and Banks. Do you think these people are going to just let Bitcoin exist without their involvement or blessing? Do you think these people aren't going to want to have control and option to manipulate Bitcoin as they have fiat?
I think the answer is No!
If Bitcoin becomes the world's reserve currency, Bitcoin will be destroyed as we know it. I can't see a way that it wouldn't, but if you all think differently I'd love to hear it!
I agree with the advertising part. When i read OP's post the first thought that came into my mind was "wow coinbase really believes in bitcoin, i should start using their wallet again" lol.What I think is a better discussion to have about this is why would we want Bitcoin to be the world's reserve currency. Existing fiat currencies are controlled and manipulated by Governments and Banks. Do you think these people are going to just let Bitcoin exist without their involvement or blessing? Do you think these people aren't going to want to have control and option to manipulate Bitcoin as they have fiat?
I think the answer is No!
If Bitcoin becomes the world's reserve currency, Bitcoin will be destroyed as we know it. I can't see a way that it wouldn't, but if you all think differently I'd love to hear it!
But IMO i don't think bitcoin is going to replace the dollar anytime soon, not within 20 years anyways. Fiat is just wasier to transact in person. Bitcoin works well for transactions that take place over the internet and its all about the ease of use.
No, Bitcoin will never replace USD as the US official currency, if that's what you mean. But this doesn't mean BTC won't become the most used currency worldwide.
if bitcoin become the king, like the usd it is right now, it would be enough to throw in a corner all the fiat, and fiat will only be seen as a niche market
the opposite of what we have right now, would be a great deal already
I don't think the government would ever allow that. I believe BTC would coexist with USD and Euro, both of which would refer to BTC. What I mean is that when you would google "USD" or "EUR", you would get "1 USD = x BTC" or "1 EUR = y BTC".
Exactly! Governments will never allow this. They will rather start a WW3 than to give a control of money. Because whoever controls money, controls everything else as well. It's always been like this.
That's why we don't need to dream that we will replace any Fiat currency out there. We don't need this quite honestly and this will never happen.
No, Bitcoin will never replace USD as the US official currency, if that's what you mean. But this doesn't mean BTC won't become the most used currency worldwide.
if bitcoin become the king, like the usd it is right now, it would be enough to throw in a corner all the fiat, and fiat will only be seen as a niche market
the opposite of what we have right now, would be a great deal already
I don't think the government would ever allow that. I believe BTC would coexist with USD and Euro, both of which would refer to BTC. What I mean is that when you would google "USD" or "EUR", you would get "1 USD = x BTC" or "1 EUR = y BTC".
I don't trust the source of that article. I do believe that bitcoin eventually replace the dollar but not within 15 years it will take way longer than that. Imagine how many people need to adjust to the bitcoin currency. I do believe the bitcoin is the future and a really good investment
No, Bitcoin will never replace USD as the US official currency, if that's what you mean. But this doesn't mean BTC won't become the most used currency worldwide.
if bitcoin become the king, like the usd it is right now, it would be enough to throw in a corner all the fiat, and fiat will only be seen as a niche market
the opposite of what we have right now, would be a great deal already
No, Bitcoin will never replace USD as the US official currency, if that's what you mean. But this doesn't mean BTC won't become the most used currency worldwide.
nope, I don't think so. Both of them are different currencies, a currency won't fall down that easily
BTC becoming the global inter currency doesn't mean FIAT will "fall down" it just mean that it will become the go to. Governments will always want their FIAT and it is necsesary to the currency way the Economy and Debt system work.
nope, I don't think so. Both of them are different currencies, a currency won't fall down that easily
I don't think so there is a lot of people who still don't know what is bitcoin and how it works so yeah.
im sure the bitcoin can't replace the dollar until people stop exchanging their bitcoin into dollars,average people just want to earn bitcoin and exchange it to dollars
yeah because still little shops and restaurants that accept bitcoin,bitcoin is still very foreign to people, so can not directly spend with gold
im sure the bitcoin can't replace the dollar until people stop exchanging their bitcoin into dollars,average people just want to earn bitcoin and exchange it to dollars
Another reason why Bitcoin won't replace the dollar is because moderate and conservative investors are hesitant to jump into this new fad. If you manage a multi-million dollar portfolio you're going to want some proof that Bitcoin isn't going to be a passing fad. The dollar has been a stable currency for decades, whereas Bitcoin just came into existence. There will be risk takers who will jump right into Bitcoins, but overall the wealthy investors will probably remain skeptical.Agree.
Such fundamental shifts are not happening over few years and usually it takes some major shift for them to happen.
It took almost a century for the US dollar to overtake British Pound and the World War 2 was what has cemented the change.
I would be more interested to see how the US dollar performs vs. Chinese Juan.
http://www.bloomberg.com/news/articles/2015-06-26/china-seen-winning-reserve-currency-endorsement-in-imf-s-review
Finally everything is temporary changing in to other,it could be begining of the end of dollar domination
Good point.
And with the way the world works today, perhaps there we will not have just one dominating currency anymore.
Instead, there might be us dollar, yuan, and who knows - maybe bitcoin as well ?
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