Do You Think Bitcoin Will Replace Dollar Soon? - page 267.

n2004al

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Quote from: jaysabi on September 30, 2015, 10:47:47 AM

Quote from: n2004al on September 30, 2015, 10:43:49 AM

Quote from: jaysabi on September 30, 2015, 10:32:58 AM

Quote from: n2004al on September 30, 2015, 09:53:57 AM

Quote from: jaysabi on September 30, 2015, 09:49:43 AM

Quote from: Huobi-USD on July 29, 2015, 02:13:36 AM

Coinbase CEO believes bitcoin will replace dollar within 15 years.

Read the following news:
http://cointelegraph.com/news/114983/coinbase-ceo-bitcoin-will-replace-dollar-within-15-years

Do you think it will be true? Are you positive towards bitcoin's future status?

The government will never give up its power to print money, so any chance of Bitcoin becoming an "official" currency is zero. However, if people use bitcoin to transact more than the dollar, that is not something the government can control unless they outlaw bitcoin. However, in order for this even to be possible, you will first need to be able to do everything with bitcoin that you can currently do with cash (and I mean, everything), and my personal opinion is that we are probably not capable of getting to that level of adoption within 15 years.

That expression is not correct. The money are not printed by the government of the country but by the central monetary authority of that country which is the bank of first level of that country. Normally this kind of bank is named Central Bank and is different from all other (commercial banks) banks which act as every other business.

Semantics. The central bank in this country, despite it's self-proclaimed "autonomy," is in the practice of acting in the interest of and at the whim of the federal government.

For which country do you speak?

I speak for every normal and democratic countries. Your vision of the world is fatalist. It is not absolutely possible that in all the normal and democratic countries verified your fatalist vision. Can be cases in which the Central Bank have corrupted leaders which follow the interests of various politicians but this cases are very few, cannot be as example and don't change the mission of this institution and its honest work.

United States. I'm not talking about how things are supposed to work. I'm talking about they actually work.

In any of the posts which are quoted is not talked for this country but for the all the countries in general. Anyhow I don't believe that Federal Reserve is corrupted. Do you have some data which verify your conviction?

jaysabi

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Quote from: n2004al on September 30, 2015, 10:43:49 AM

Quote from: jaysabi on September 30, 2015, 10:32:58 AM

Quote from: n2004al on September 30, 2015, 09:53:57 AM

Quote from: jaysabi on September 30, 2015, 09:49:43 AM

Quote from: Huobi-USD on July 29, 2015, 02:13:36 AM

Coinbase CEO believes bitcoin will replace dollar within 15 years.

Read the following news:
http://cointelegraph.com/news/114983/coinbase-ceo-bitcoin-will-replace-dollar-within-15-years

Do you think it will be true? Are you positive towards bitcoin's future status?

The government will never give up its power to print money, so any chance of Bitcoin becoming an "official" currency is zero. However, if people use bitcoin to transact more than the dollar, that is not something the government can control unless they outlaw bitcoin. However, in order for this even to be possible, you will first need to be able to do everything with bitcoin that you can currently do with cash (and I mean, everything), and my personal opinion is that we are probably not capable of getting to that level of adoption within 15 years.

That expression is not correct. The money are not printed by the government of the country but by the central monetary authority of that country which is the bank of first level of that country. Normally this kind of bank is named Central Bank and is different from all other (commercial banks) banks which act as every other business.

Semantics. The central bank in this country, despite it's self-proclaimed "autonomy," is in the practice of acting in the interest of and at the whim of the federal government.

For which country do you speak?

I speak for every normal and democratic countries. Your vision of the world is fatalist. It is not absolutely possible that in all the normal and democratic countries verified your fatalist vision. Can be cases in which the Central Bank have corrupted leaders which follow the interests of various politicians but this cases are very few, cannot be as example and don't change the mission of this institution and its honest work.

United States. I'm not talking about how things are supposed to work. I'm talking about they actually work. Despite the Fed's "autonomy" to control the money supply, it works at the behest of, or at the very least in conjunction with, the federal government. There's too much commingling of personnel and insiders and regulatory capture for it to be anything but the case.

n2004al

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Quote from: jaysabi on September 30, 2015, 10:32:58 AM

Quote from: n2004al on September 30, 2015, 09:53:57 AM

Quote from: jaysabi on September 30, 2015, 09:49:43 AM

Quote from: Huobi-USD on July 29, 2015, 02:13:36 AM

Coinbase CEO believes bitcoin will replace dollar within 15 years.

Read the following news:
http://cointelegraph.com/news/114983/coinbase-ceo-bitcoin-will-replace-dollar-within-15-years

Do you think it will be true? Are you positive towards bitcoin's future status?

The government will never give up its power to print money, so any chance of Bitcoin becoming an "official" currency is zero. However, if people use bitcoin to transact more than the dollar, that is not something the government can control unless they outlaw bitcoin. However, in order for this even to be possible, you will first need to be able to do everything with bitcoin that you can currently do with cash (and I mean, everything), and my personal opinion is that we are probably not capable of getting to that level of adoption within 15 years.

That expression is not correct. The money are not printed by the government of the country but by the central monetary authority of that country which is the bank of first level of that country. Normally this kind of bank is named Central Bank and is different from all other (commercial banks) banks which act as every other business.

Semantics. The central bank in this country, despite it's self-proclaimed "autonomy," is in the practice of acting in the interest of and at the whim of the federal government.

For which country do you speak?

I speak for every normal and democratic countries. Your vision of the world is fatalist. It is not absolutely possible that in all the normal and democratic countries verified your fatalist vision. Can be cases in which the Central Bank have corrupted leaders which follow the interests of various politicians but this cases are very few, cannot be as example and don't change the mission of this institution and its honest work.

jaysabi

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Activity: 2016

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Quote from: n2004al on September 30, 2015, 09:53:57 AM

Quote from: jaysabi on September 30, 2015, 09:49:43 AM

Quote from: Huobi-USD on July 29, 2015, 02:13:36 AM

Coinbase CEO believes bitcoin will replace dollar within 15 years.

Read the following news:
http://cointelegraph.com/news/114983/coinbase-ceo-bitcoin-will-replace-dollar-within-15-years

Do you think it will be true? Are you positive towards bitcoin's future status?

The government will never give up its power to print money, so any chance of Bitcoin becoming an "official" currency is zero. However, if people use bitcoin to transact more than the dollar, that is not something the government can control unless they outlaw bitcoin. However, in order for this even to be possible, you will first need to be able to do everything with bitcoin that you can currently do with cash (and I mean, everything), and my personal opinion is that we are probably not capable of getting to that level of adoption within 15 years.

That expression is not correct. The money are not printed by the government of the country but by the central monetary authority of that country which is the bank of first level of that country. Normally this kind of bank is named Central Bank and is different from all other (commercial banks) banks which act as every other business.

Semantics. The central bank in this country, despite it's self-proclaimed "autonomy," is in the practice of acting in the interest of and at the whim of the federal government.

n2004al

legendary

Activity: 1134

Merit: 1000

Quote from: neonshium on September 30, 2015, 09:59:18 AM

Quote from: n2004al on September 30, 2015, 09:53:57 AM

Quote from: jaysabi on September 30, 2015, 09:49:43 AM

Quote from: Huobi-USD on July 29, 2015, 02:13:36 AM

Coinbase CEO believes bitcoin will replace dollar within 15 years.

Read the following news:
http://cointelegraph.com/news/114983/coinbase-ceo-bitcoin-will-replace-dollar-within-15-years

Do you think it will be true? Are you positive towards bitcoin's future status?

The government will never give up its power to print money, so any chance of Bitcoin becoming an "official" currency is zero. However, if people use bitcoin to transact more than the dollar, that is not something the government can control unless they outlaw bitcoin. However, in order for this even to be possible, you will first need to be able to do everything with bitcoin that you can currently do with cash (and I mean, everything), and my personal opinion is that we are probably not capable of getting to that level of adoption within 15 years.

That expression is not correct. The money are not printed by the government of the country but by the central monetary authority of that country which is the bank of first level of that country. Normally this kind of bank is named Central Bank and is different from all other (commercial banks) banks which act as every other business.

Most of countries have fake reasons to force those monetary authority to mint new money.
For the bail out reason most of the new currency are minted usually. To save corporates politicians lie on people to get more currency minted.
So, there is an end in vision for those fake reasons, in the form of bitcoin.

This is another thing. This has nothing to do with the process of printing of the money. There are dictatorship countries when everything and not only the money are decided by only one or a restricted group of people. I am not speaking about this kind of society. Maybe in my expression I must add the words "normal and democratic". So, I repeat my expression:

"In one normal and democratic country the money are not printed by the government of the country but by the central monetary authority of that country which is the bank of first level of that country."

neonshium

hero member

Activity: 1134

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Quote from: n2004al on September 30, 2015, 09:53:57 AM

Quote from: jaysabi on September 30, 2015, 09:49:43 AM

Quote from: Huobi-USD on July 29, 2015, 02:13:36 AM

Coinbase CEO believes bitcoin will replace dollar within 15 years.

Read the following news:
http://cointelegraph.com/news/114983/coinbase-ceo-bitcoin-will-replace-dollar-within-15-years

Do you think it will be true? Are you positive towards bitcoin's future status?

The government will never give up its power to print money, so any chance of Bitcoin becoming an "official" currency is zero. However, if people use bitcoin to transact more than the dollar, that is not something the government can control unless they outlaw bitcoin. However, in order for this even to be possible, you will first need to be able to do everything with bitcoin that you can currently do with cash (and I mean, everything), and my personal opinion is that we are probably not capable of getting to that level of adoption within 15 years.

That expression is not correct. The money are not printed by the government of the country but by the central monetary authority of that country which is the bank of first level of that country. Normally this kind of bank is named Central Bank and is different from all other (commercial banks) banks which act as every other business.

Most of countries have fake reasons to force those monetary authority to mint new money.
For the bail out reason most of the new currency are minted usually. To save corporates politicians lie on people to get more currency minted.
So, there is an end in vision for those fake reasons, in the form of bitcoin.

n2004al

legendary

Activity: 1134

Merit: 1000

Quote from: jaysabi on September 30, 2015, 09:49:43 AM

Quote from: Huobi-USD on July 29, 2015, 02:13:36 AM

Coinbase CEO believes bitcoin will replace dollar within 15 years.

Read the following news:
http://cointelegraph.com/news/114983/coinbase-ceo-bitcoin-will-replace-dollar-within-15-years

Do you think it will be true? Are you positive towards bitcoin's future status?

The government will never give up its power to print money, so any chance of Bitcoin becoming an "official" currency is zero. However, if people use bitcoin to transact more than the dollar, that is not something the government can control unless they outlaw bitcoin. However, in order for this even to be possible, you will first need to be able to do everything with bitcoin that you can currently do with cash (and I mean, everything), and my personal opinion is that we are probably not capable of getting to that level of adoption within 15 years.

That expression is not correct. The money are not printed by the government of the country but by the central monetary authority of that country which is the bank of first level of that country. Normally this kind of bank is named Central Bank and is different from all other (commercial banks) banks which act as every other business.

jaysabi

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Activity: 2016

Merit: 1115

Quote from: Huobi-USD on July 29, 2015, 02:13:36 AM

Coinbase CEO believes bitcoin will replace dollar within 15 years.

Read the following news:
http://cointelegraph.com/news/114983/coinbase-ceo-bitcoin-will-replace-dollar-within-15-years

Do you think it will be true? Are you positive towards bitcoin's future status?

The government will never give up its power to print money, so any chance of Bitcoin becoming an "official" currency is zero. However, if people use bitcoin to transact more than the dollar, that is not something the government can control unless they outlaw bitcoin. However, in order for this even to be possible, you will first need to be able to do everything with bitcoin that you can currently do with cash (and I mean, everything), and my personal opinion is that we are probably not capable of getting to that level of adoption within 15 years.

mordekaiser

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Quote from: Huobi-USD on July 29, 2015, 02:13:36 AM

Coinbase CEO believes bitcoin will replace dollar within 15 years.

Read the following news:
http://cointelegraph.com/news/114983/coinbase-ceo-bitcoin-will-replace-dollar-within-15-years

Do you think it will be true? Are you positive towards bitcoin's future status?

Guess so, when it happens I would surely miss it. Im sure it wont be long now.

leex1528

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Quote from: tegacoll86 on September 30, 2015, 04:45:13 AM

I think bitcoin will outnumber the dollars in percentage of widely used on online transactions very soon. Bitcoin is created for this purpose whereas dollar being used as a virtual online cash. So, the original will raise over the virtual.

Very soon? I don't know if you realize how much money goes through the internet. I am guessing it is about 97% USD compared to about 3% BTC. That might even be a little high for BTC. Everyone is shopping online now and of those people I am willing to bet around 50% of them haven't heard of BTC. It might eventually change, but now for another 5-10 years minimum.

Miss Fortune

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Quote from: Huobi-USD on July 29, 2015, 02:13:36 AM

Coinbase CEO believes bitcoin will replace dollar within 15 years.

Read the following news:
http://cointelegraph.com/news/114983/coinbase-ceo-bitcoin-will-replace-dollar-within-15-years

Do you think it will be true? Are you positive towards bitcoin's future status?

I dont think so, maybe they will a be used together but not to the point that it will replace the dollar.

tegacoll86

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I think bitcoin will outnumber the dollars in percentage of widely used on online transactions very soon. Bitcoin is created for this purpose whereas dollar being used as a virtual online cash. So, the original will raise over the virtual.

VirosaGITS

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Quote from: MasterYii on September 29, 2015, 10:38:04 PM

Quote from: Huobi-USD on July 29, 2015, 02:13:36 AM

Coinbase CEO believes bitcoin will replace dollar within 15 years.

Read the following news:
http://cointelegraph.com/news/114983/coinbase-ceo-bitcoin-will-replace-dollar-within-15-years

Do you think it will be true? Are you positive towards bitcoin's future status?

I don't think so dollar pretty strong I mean it is widely use like in every parts of the world many countries have been depending on it.

No i don't think so, its not even a strength thing. I just think the governments will fight it once they realized the Bitcoin technology can cause a financial system revolution over the world.

I'm not sure how most governments would continue operating if they had no control over their currency.

MasterYii

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Quote from: Huobi-USD on July 29, 2015, 02:13:36 AM

Coinbase CEO believes bitcoin will replace dollar within 15 years.

Read the following news:
http://cointelegraph.com/news/114983/coinbase-ceo-bitcoin-will-replace-dollar-within-15-years

Do you think it will be true? Are you positive towards bitcoin's future status?

I don't think so dollar pretty strong I mean it is widely use like in every parts of the world many countries have been depending on it.

sukamasoto

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Quote from: Nami on September 29, 2015, 09:42:22 PM

Quote from: Huobi-USD on July 29, 2015, 02:13:36 AM

Coinbase CEO believes bitcoin will replace dollar within 15 years.

Read the following news:
http://cointelegraph.com/news/114983/coinbase-ceo-bitcoin-will-replace-dollar-within-15-years

Do you think it will be true? Are you positive towards bitcoin's future status?

I believe something or some currency will be able to replace dollar in the future and if it is bitcoin I guess it is not very surprising.

I think it still need more time for bitcoin to take over dollar. But nothing is impossible.
Bitcoin just need more attention for new bitcoiner and fix the security to make it more advance from hacker

Nami

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Quote from: Huobi-USD on July 29, 2015, 02:13:36 AM

Coinbase CEO believes bitcoin will replace dollar within 15 years.

Read the following news:
http://cointelegraph.com/news/114983/coinbase-ceo-bitcoin-will-replace-dollar-within-15-years

Do you think it will be true? Are you positive towards bitcoin's future status?

I believe something or some currency will be able to replace dollar in the future and if it is bitcoin I guess it is not very surprising.

smith coins

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Quote from: Abiky on September 29, 2015, 08:19:34 AM

Right now, the US dollar is the reserve currency so therefore it might take a little longer than we expected for Bitcoin to replace it. We need mainstream adoption to gain a step ahead for this to happen. The day that Bitcoin replaces the Dollar, would be the day that it would be used by all countries around the world (main currency) Grin

I think that it is hard to that usd will be replaced by bitcoin in near future.
Probably a country that have a very old and outdated currency then it is the best opportunity to integrate bitcoin as official currency and it would give bitcoin a boost and would be more popular. But replacing direct the usd it would directly affect the world economy.

thinkinger

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maybe yes as a global currency but within u.s. i dont think so as long as the u.s. fed dont have more than the rest.

Abiky

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www.Crypto.Games: Multiple coins, multiple games

Right now, the US dollar is the reserve currency so therefore it might take a little longer than we expected for Bitcoin to replace it. We need mainstream adoption to gain a step ahead for this to happen. The day that Bitcoin replaces the Dollar, would be the day that it would be used by all countries around the world (main currency) Grin

operrajunk74

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I don't think that it will be happen soon, it will take many years. Dollars is a global currency and people have trusted and used them as a mode of payment from many years. On other hand Bitcoin is new and most of the countries are not familiar with bitcoins, many countries like india have refused to regulate the bitcoins, so there are some challenges in front of bitcoins and to get resolved all the huddles time is required.

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