Do You Think Bitcoin Will Replace Dollar Soon? - page 265.

bct-user

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Quote from: Abiky on October 31, 2015, 08:40:49 PM

Quote from: 1Referee on October 31, 2015, 08:37:54 PM

Quote from: Abiky on October 31, 2015, 08:31:37 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

StratusOakmont

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yeah i think so watch in 4-5 years. Its my prediction. The rate at which bitcoin is gaining popularity dollar may no last longer

Abiky

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Quote from: 1Referee on October 31, 2015, 08:37:54 PM

Quote from: Abiky on October 31, 2015, 08:31:37 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

1Referee

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Quote from: Abiky on October 31, 2015, 08:31:37 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.

Abiky

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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

bitmarket.net

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Bitcoin challenging other currencies would have serious implications for the banks and the monetary policy around the world.

Right now, central banks can regulate the money supply and act as the lenders of last resort for the banks which need it.
Will the governments ever allow the currency they have no control over to take over ?

And more importantly, do we really want to live in the world, where the central banks are powerless to intervene ?
Many say that the great depression of 1920s, that ultimately led to the World War 2 was caused by the central banks deciding not to act.

ajun96

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Quote from: HarryKPeters on October 30, 2015, 07:40:07 PM

I think bitcoin will never replace a currency. The main focus is an Internet currency. With time it will become more and more popular so other currencies will have smaller marketcaps, whilse bitcoin (the people's money) will be first in daily transactions.

yes bitcoin focus is on Internet transactions or online, but the times will be more advanced, all need instant, bitcoin is now already available in the debit card
i think future bitcoin will replace dolar

HarryKPeters

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I think bitcoin will never replace a currency. The main focus is an Internet currency. With time it will become more and more popular so other currencies will have smaller marketcaps, whilse bitcoin (the people's money) will be first in daily transactions.

CryptInvest

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In the coming years is unlikely. Paper Fiat will be popular for a long time. Not everywhere has a sufficient cover for the transaction broadcast to the network. Besides limitations in the Bitcoin block size blockchain and the number of transactions is also not in favor of cryptocurrency.

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Not before ~2025, bitcoin still needs more adoption, more users then maybe it will replace many fiat including usd.

wearepoor

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No I don't think that Bitcoin will replace the dollar soon. I believe that bitcoin is still in its initial stage, there is a long journey which has to be completed by bitcoins. Dollar is very popular globally and many countries are using it for trade. For the time being bitcoin will be limited to online shopping, gambling and for other personal use. It will take many years to replace the dollars.

angryswamp

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it might replace dollar but we will need to wait for a long time i think

VirosaGITS

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Quote from: Raimonn on October 30, 2015, 02:10:45 PM

Quote from: Abiky on October 30, 2015, 08:35:16 AM

Quote from: Raimonn on October 30, 2015, 08:23:50 AM

I don't think that bitcoin will replace dollar completly, there are people that don't like tecnology and don't have any mobil, and these people never will change to bitcoin. I think fiat money will be acepted always.

I think there should be a University of Bitcoin or crypto to provide education towards Bitcoin, crypto and the blockchain technology. College degrees in Bitcoin like Bachelor's, Master's, and Doctoral would be a pretty good idea (I think). There is so many people out there that don't know about Bitcoin yet and I think this would be pretty clever to attract the masses. Just my opinion.

Could be a nice idea, but not only in university. Nowadays there are people teaching how to use computers and mobiles to older persons. Could be necessary made the same with bitcoins.

It is probably more necessary for Bitcoin related services to hit a high level of ease of use. It would be possibly to raise accessibility by incorporating Bitcoin into bank services. But i don't really see what a master in Bitcoin would bring.

It sound more like a master in code security engineering.

Raimonn

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Quote from: Abiky on October 30, 2015, 08:35:16 AM

Quote from: Raimonn on October 30, 2015, 08:23:50 AM

I don't think that bitcoin will replace dollar completly, there are people that don't like tecnology and don't have any mobil, and these people never will change to bitcoin. I think fiat money will be acepted always.

I think there should be a University of Bitcoin or crypto to provide education towards Bitcoin, crypto and the blockchain technology. College degrees in Bitcoin like Bachelor's, Master's, and Doctoral would be a pretty good idea (I think). There is so many people out there that don't know about Bitcoin yet and I think this would be pretty clever to attract the masses. Just my opinion.

Could be a nice idea, but not only in university. Nowadays there are people teaching how to use computers and mobiles to older persons. Could be necessary made the same with bitcoins.

techboy2

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I'd say never is closer to the real answer. Not in the next 20 years at least.

mtnsaa

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Not soon but maybe sometime in the future and maybe not Bitcoin. It's only natural that new generations embrace it like water. I mean many of us are from the internet generation I guess but not from this martphone-in-your-pocket generation. In 10 years, children who are living in this age will be adults.

The concepts of sharing and privacy will have a different meaning for them. They are posing for cameras 24/7, uploading their lives and having technology as a major part of their childhood, think about it. Nobody owns anything, nor music or movies, you stream it and you're done, it's all in the cloud. We take that from granted but we didn't grow up with it, we adapted.

JinxCoins

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Soon don't think so but that will be nice.

RiOtT

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The dollar will extinguish itself within time regardless of what bitcoin does. Most likely each country will issue their own coins in the future. Bitcoin's stay power and growth depends on how many opt into the system. The more users it has the more influence it gains, so in that regard, it could replace all currencies within time. Soon, however, I highly doubt that. The US will defend the dollar until the very end and via whatever means necessary. It literally gives them the power to "print" whatever size military/police/cyber enforcement required to protect it. Though, they cannot control the entire world or the will of the people, so like I said, it really depends on how many opt into the system. It will take a mass exodus from fiat to gain the kind of traction required to topple all currencies because that is what it will need to do to overpower the USD.

Abiky

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Quote from: Raimonn on October 30, 2015, 08:23:50 AM

I don't think that bitcoin will replace dollar completly, there are people that don't like tecnology and don't have any mobil, and these people never will change to bitcoin. I think fiat money will be acepted always.

I think there should be a University of Bitcoin or crypto to provide education towards Bitcoin, crypto and the blockchain technology. College degrees in Bitcoin like Bachelor's, Master's, and Doctoral would be a pretty good idea (I think). There is so many people out there that don't know about Bitcoin yet and I think this would be pretty clever to attract the masses. Just my opinion.

Raimonn

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I don't think that bitcoin will replace dollar completly, there are people that don't like tecnology and don't have any mobil, and these people never will change to bitcoin. I think fiat money will be acepted always.

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