Do You Think Bitcoin Will Replace Dollar Soon? - page 264.

ajun96

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Quote from: TastyChillySauce00 on November 02, 2015, 08:01:47 AM

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

bitmarket.net

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Quote from: Pab on November 02, 2015, 08:40:00 AM

Quote from: bitmarket.net on November 02, 2015, 08:33:43 AM

Quote from: vero on November 02, 2015, 08:21:37 AM

Quote from: TastyChillySauce00 on November 02, 2015, 08:01:47 AM

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.

juan vs dollar in november 2015 just in somefewdays juan can become global currency,if USA will put veto China will respond

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 ?

Pab

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Quote from: bitmarket.net on November 02, 2015, 08:33:43 AM

Quote from: vero on November 02, 2015, 08:21:37 AM

Quote from: TastyChillySauce00 on November 02, 2015, 08:01:47 AM

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.

juan vs dollar in november 2015 just in somefewdays juan can become global currency,if USA will put veto China will respond

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

bitmarket.net

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Quote from: vero on November 02, 2015, 08:21:37 AM

Quote from: TastyChillySauce00 on November 02, 2015, 08:01:47 AM

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.

vero

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Quote from: TastyChillySauce00 on November 02, 2015, 08:01:47 AM

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.

TastyChillySauce00

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Leading Crypto Sports Betting & Casino Platform

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

smith coins

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Quote from: CoinHopper on November 02, 2015, 07:15:04 AM

I really don't think bitcoin's that big, and will replace the dollar completely. Because there are only 21 million coins!

But really. I think it will become a side currency, but not replace dollars.

Just because there are 21 million coins does not mean it can't replace.
Because there are many decimals after the first number.
Yes it can be side currency and maybe after few years it will become more popular and hope the block size issue will resolved.

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Two heads are better than one.

I really don't think bitcoin's that big, and will replace the dollar completely. Because there are only 21 million coins!

But really. I think it will become a side currency, but not replace dollars.

smith coins

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Quote from: leex1528 on October 28, 2015, 10:42:16 AM

Quote from: smith coins on October 28, 2015, 10:35:20 AM

I don't think that bitcoin will replace bitcoin.
But bitcoin will be concurrent with dollar and other currencies for online transaction.
Because there are zero of few penny fee in transaction.

I disagree. Maybe in the way off future if Bitcoin survives that long it might be competing with the dollar. Keep in mind there are tons of people in the entire world who have no idea what Bitcoin is. Not to many people don't know about the American dollar.

Well all of us know what dollar is, there is no doubt about it.
But about bitcoin this is another story, a small number of total online users know about it.
Replacing a fiat currency is really hard especially going completely online when few people can attack the transactions.

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Quote from: 1Referee on October 31, 2015, 07:37:54 PM

Quote from: Abiky on October 31, 2015, 07:31:37 PM

It all depends on the currency's power and support from the government. Anything is possible within this scenario, but it would take a long time for Bitcoin to finally replace fiat and probably even Gold. Time will determine what will happen with Bitcoin and the rest of crypto. Cheesy

Will Bitcoin replace the USD? No. There is simply too much money involved for the world economy to let the USD fall. If the USD falls, we also fall with it. Bitcoin and fiat currency can perfectly work together to offer people the best of both worlds. Bitcoin will stay here for a very long time, the rest of the crypto will slowly fade away, and we'll forget about them as we only need to focus on Bitcoin.

I also think it is not a question of there being either dollar or bitcoin.
I think both fiat and digital currencies have future.

What is liklely to change is the balance between them and the nature of the fiat money - I believe it is likely to adopt on some of the mechanisms of the digital currencies.

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Quote from: iram66680 on November 01, 2015, 02:20:29 AM

Bitcoin will not be able to replace fiat anytime soon due to the instability of the prices and the lack of regulations. It is highly impossible for government to accept them as it can be used for tax evasion which would cause the government to suffer losses.

if for the future ?

What need identity verification? in order to replace the dollar?

makcik

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Yes, I think that soon the day will come when dollar will replace btc because of the following reasons.

(1) It's cashless. No hassle of cash. It's completely free from cash.
(2) It's safe-- No one can steal it from you. It stays with you wherever you go.
(3) Easy mode of transaction.
(4) Maintains your privacy.

ajun96

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Quote from: Pierre 2 on November 01, 2015, 06:14:02 AM

I don't think it will replace dollar soon or in future.
Dollar is USA's money and it is backed up by powerful mechanisms so it cannot be replaced.
But if dollar loses so much value while btc is powerful, usage of dollar would drastically go lower.

if dollar loses, its means america is being the current crisis, of course the price of bitcoin will rise rapidly,
and many Americans will use bitcoin,
but all the events it is probably impossible
whenever that America will be a crisis

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I don't think it will replace dollar soon or in future.
Dollar is USA's money and it is backed up by powerful mechanisms so it cannot be replaced.
But if dollar loses so much value while btc is powerful, usage of dollar would drastically go lower.

Ninjaskills

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Quote from: 3Coins on November 01, 2015, 02:07:19 AM

not sure why Dollar will be replaced by Bitcoins, not everyone goes online and believes in buying items online and lastly no Government will support it I guess since Government dont have control over Bitcoins

yeah not everyone uses the internet, it is now impossible bitcoin replace the dollar,
but the future if the technology is very advanced all the people using the internet, bitcoin may be able to replace the dollar

iram66680

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Bitcoin will not be able to replace fiat anytime soon due to the instability of the prices and the lack of regulations. It is highly impossible for government to accept them as it can be used for tax evasion which would cause the government to suffer losses.

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Quote from: 3Coins on November 01, 2015, 02:07:19 AM

not sure why Dollar will be replaced by Bitcoins, not everyone goes online and believes in buying items online and lastly no Government will support it I guess since Government dont have control over Bitcoins

Actually... It could replace FIAT just fine. You would not have to go Online to buy item. You don't even have to go online to buy stuff right now... You can buy anything anywhere that accept a debit card already.

And some Governments already support it and some Governments already oppose it.

And Beside a global ban of Bitcoin, there is not much that can be done by then, unless they decide to bruteforce the whole network down, so...

3Coins

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not sure why Dollar will be replaced by Bitcoins, not everyone goes online and believes in buying items online and lastly no Government will support it I guess since Government dont have control over Bitcoins

ajun96

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Quote from: Abiky on October 31, 2015, 07:31:37 PM

It all depends on the currency's power and support from the government. Anything is possible within this scenario, but it would take a long time for Bitcoin to finally replace fiat and probably even Gold. Time will determine what will happen with Bitcoin and the rest of crypto. Cheesy

Government will not be supporting, there is no scenario of a country to replace its own national currency,
especially with foreign currency (bitcoin)

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Quote from: Abiky on October 31, 2015, 07:40:49 PM

Quote from: 1Referee on October 31, 2015, 07:37:54 PM

Quote from: Abiky on October 31, 2015, 07:31:37 PM

It all depends on the currency's power and support from the government. Anything is possible within this scenario, but it would take a long time for Bitcoin to finally replace fiat and probably even Gold. Time will determine what will happen with Bitcoin and the rest of crypto. Cheesy

Will Bitcoin replace the USD? No. There is simply too much money involved for the world economy to let the USD fall. If the USD falls, we also fall with it. Bitcoin and fiat currency can perfectly work together to offer people the best of both worlds. Bitcoin will stay here for a very long time, the rest of the crypto will slowly fade away, and we'll forget about them as we only need to focus on Bitcoin.

Maybe there would be a new kind of crypto that would be issued by a central bank and backed by the government. The same would be just like fiat but in a digital form. I call it Fiatcoin. Now that might replace the dollar... Grin

this is could be happens, looks russia gov, they interested with blockchain technology and want to create their own coin, but i think this is nice to see blockchain tech implement to the governments.

anyway, dollar can't be replace with other currency, even bitcoin. except the worse scenario will happens, war between US vs China Cheesy

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