Do You Think Bitcoin Will Replace Dollar Soon? - page 273.

Leinaded

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Imo they will coexist, as soon as the government finds a way to let the IRS control and monitor the bitcoin transactions

I guess the Federal Reserve and government aren't happy to admit in their economy something they haven't created and can't control so they will work to change that (*cough ethereum *cough). But if bitcoin becomes widely accepted by the citizens they will have to comply to take part in that and collect some taxes better than none at all. The problem with the government is that they are showing through their actions that they seem to assume everyone is a criminal that wants to evade taxes if they use bitcoin so that will lead to the potential ban or restrictions on bitcoin transactions as happened in china. So I have no idea how long it will take until bitcoin is accepted or any other succesor of the coin, one thing if for sure, people want to use cryptocurrencies and any government can't ignore that for long.

P. S. The government of Ukraine is studying to accept bitcoin officially in their banking system. Strangely enough I read that yesterday in coindesk or cointelegraph but haven't found the link today.

HarHarHar9965

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Quote from: coinableS on September 03, 2015, 08:50:32 PM

No way. This isn't a question for this generation. This would be a better question for a children or grandchildren's generation (depending on your age).
Maybe in 50 years? But who knows how much bloodshed there will be from the collapse and attempts to save the petro-dollar during that timeframe.

the collapse of petro dollar is taking place right now as some countries reconsider dollar for buying petrol from the saudis. The 1944 Bretton woods conference sucessfully established the US dollar as a global reserve currency, then 1971 nixon shock took place when US abandoned the international gold standard. US will survive comfortably if petrodollar is abandoned because of the price increase of assets which took place over a period of time.

lastuser

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Because of bitcoin's increasing popularity , my answer will be yes. I can't wait for that time to come.I can't imagine eating on McDonald's and paying them with bitcoins Cheesy

botany

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Quote from: wearehatetherules on September 03, 2015, 05:39:12 PM

i dont think so,5 years is not enough for bitcoin in think Huh

The OP talks about 15 years, not 5 years.
In 15 years time, I guess adoption would have increased substantially. It definitely is possible that BTC would become the reserve currency, given the hatred that people across the world have for the USA.

Wapinter

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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 am definitely positive towards bitcoin future and believe that bitcoin is going to stay but to say that it would replace dollar would be an exaggeration.As long as us remains economic and military superpower,dollar will continue to rule the market.

asad777

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I think that is impossible
you are talking about dollar not other 1 country used currency
dollar is used by millions if not billions of people in there life not like bitcoin
and dollar is world-wide used

n2004al

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Quote from: kenbytes on September 03, 2015, 05:43:04 PM

i don`t think so soon but i hope in a few years Undecided

I'm curious. You hope that bitcoin replace dollar in a few years. Why this hope? What do you expect from the bitcoin which dollar don't give you? Or better. What do you except that bitcoin do better than dollar? Can you answer please?

hoian0809

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Bitcoin because of it's finite supply and ability to increase it's own value within it's own technological advances. Many thousands of jobs and businesses will be made directly and indirectly based on Bitcoin technology over the next several years worldwide.

coinableS

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No way. This isn't a question for this generation. This would be a better question for a children or grandchildren's generation (depending on your age).
Maybe in 50 years? But who knows how much bloodshed there will be from the collapse and attempts to save the petro-dollar during that timeframe.

ralle14

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Shuffle.com

i think not and it will stay as a digital currency for me

kenbytes

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i don`t think so soon but i hope in a few years Undecided

wearehatetherules

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i dont think so,5 years is not enough for bitcoin in think Huh

maxcarjuzaa

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Bitcoin wont replace dollar.

Tv did not replace radio

email did not kill postal service

linux did not kill windows

credit cards did not replace dollar

some will spend dollars using bitcoin

some will store wealth using bitcoin

some will send money abroad using bitcoins

some will tip on the interner using bitcoins

that is all, and if that is only 1% of today's on line transactions volume it will be huge

HarHarHar9965

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Quote from: RealBitcoin on August 30, 2015, 11:56:24 PM

Quote from: Q7 on August 30, 2015, 09:44:41 PM

At its current state and direction it is heading? I don't think so. Unless the block size debate is resolved once and for all and this issue is put to rest, I don't think it will replace dollar anytime soon. People need confidence, that they can see the coin is reliable and the reputation is very important. I don't think we are progressing on that part.

This is not a giant project with millions of people working on it, despite having a 3.3 billion $ market cap, its only a tiny fraction of people who control it and develop it.

Perhaps if it would be more decentralized then it would attract more people, as atleast keep its promise. Who cares if the protocol is decentralized if its still a few oligarchs who control it.

I think a vast majority of people who really like bitcoin have been attracted to it because it offers privacy and anonymity, something which no currency has to offer. The reason I think bitcoin even exists is because it is a way of how transactions are made anonymously, something which could be harmful too but that's the very reason why bitcoin is used, on a larger scale.

RealBitcoin

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Quote from: Q7 on August 30, 2015, 09:44:41 PM

At its current state and direction it is heading? I don't think so. Unless the block size debate is resolved once and for all and this issue is put to rest, I don't think it will replace dollar anytime soon. People need confidence, that they can see the coin is reliable and the reputation is very important. I don't think we are progressing on that part.

This is not a giant project with millions of people working on it, despite having a 3.3 billion $ market cap, its only a tiny fraction of people who control it and develop it.

Perhaps if it would be more decentralized then it would attract more people, as atleast keep its promise. Who cares if the protocol is decentralized if its still a few oligarchs who control it.

Q7

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At its current state and direction it is heading? I don't think so. Unless the block size debate is resolved once and for all and this issue is put to rest, I don't think it will replace dollar anytime soon. People need confidence, that they can see the coin is reliable and the reputation is very important. I don't think we are progressing on that part.

crazywack

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Quote from: randy8777 on August 30, 2015, 04:31:32 PM

Quote from: crazywack on August 30, 2015, 03:09:43 PM

Yes i belive! In fact I think this could happen sooner than most relize. We have another stock bubble about to pop nobody is really talking about. The Pres. has tried to mitigate the damage but it's coming and I think we will se a HUGE influx in BTC useers.

The bubble is the biggest ponzi in history, the stock market... Baby boomers will begin retiring in 2016 and last I checked you are forced to withdraw a minimum amount of 3.5%. It was 6% but it was changed quickly and quietly. Imagin 3.5% of capital withdrawn from markets every year for the next 20-25 years. OUCH!

stop with dreaming. bitcoin will never replace the us dollar. current financial system is all about control. with bitcoin they lose their loved control. beside that, they will do everything to save the dollar.

Like what? Borrow another $60trillion? 60TRILLION in UNFUNDED liabilities... The U.S. will end up devaluing their dollar worse then the Chines.

randy8777

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Quote from: crazywack on August 30, 2015, 03:09:43 PM

Yes i belive! In fact I think this could happen sooner than most relize. We have another stock bubble about to pop nobody is really talking about. The Pres. has tried to mitigate the damage but it's coming and I think we will se a HUGE influx in BTC useers.

The bubble is the biggest ponzi in history, the stock market... Baby boomers will begin retiring in 2016 and last I checked you are forced to withdraw a minimum amount of 3.5%. It was 6% but it was changed quickly and quietly. Imagin 3.5% of capital withdrawn from markets every year for the next 20-25 years. OUCH!

stop with dreaming. bitcoin will never replace the us dollar. current financial system is all about control. with bitcoin they lose their loved control. beside that, they will do everything to save the dollar.

crazywack

legendary

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Yes i belive! In fact I think this could happen sooner than most relize. We have another stock bubble about to pop nobody is really talking about. The Pres. has tried to mitigate the damage but it's coming and I think we will se a HUGE influx in BTC useers.

The bubble is the biggest ponzi in history, the stock market... Baby boomers will begin retiring in 2016 and last I checked you are forced to withdraw a minimum amount of 3.5%. It was 6% but it was changed quickly and quietly. Imagin 3.5% of capital withdrawn from markets every year for the next 20-25 years. OUCH!

Abiky

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Bitcoin could replace the dollar in the future if it meets the following requirements: Faster confirmation time, price stability, bigger block size and mass adoption. When all this is accomplished, we could see the day that Bitcoin would replace fiat. Nevertheless, all we can do is wait and see goes well it goes for Bitcoin. Only time will tell.

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