Do You Think Bitcoin Will Replace Dollar Soon? - page 274.

RealBitcoin

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Quote from: TinEye on August 30, 2015, 09:18:57 AM

Quote from: RealBitcoin on August 30, 2015, 03:56:32 AM

Soon is relative. In terms of fiat years, soon is probably 15-20 years, then it could happen.

Although I dont think the dollar will vanish completely, bitcoin definitely will need atleast 50 years to become a globally used currency. Big changes like that dont happen overnight guys.

the point is that maybe this will not happen at all, unless a big portion of the population start believing in bitcoin and use the cryptocurrency only, you can simply think that many like paying with fiat
because they know that they are using a form of money that offer a kind of security, and it's backed by the governemnt even if this mean making coins out of thin air

Thats the problem, because if its backed by it, then the backing can be taken anytime, so its only worth because of promise. Now what kind of financial stability is that if your value is only value because somebody else says it?

Sure value is subjective, but we are talking about 1 entity deciding what is valuable and what is not, instead of letting the community and the free market do it.

I can never understand why people are so brainwashedly fanatic about fiat money, it just doesnt excite me anymore.

TinEye

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Quote from: RealBitcoin on August 30, 2015, 03:56:32 AM

Soon is relative. In terms of fiat years, soon is probably 15-20 years, then it could happen.

Although I dont think the dollar will vanish completely, bitcoin definitely will need atleast 50 years to become a globally used currency. Big changes like that dont happen overnight guys.

the point is that maybe this will not happen at all, unless a big portion of the population start believing in bitcoin and use the cryptocurrency only, you can simply think that many like paying with fiat
because they know that they are using a form of money that offer a kind of security, and it's backed by the governemnt even if this mean making coins out of thin air

HarHarHar9965

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Quote from: RealBitcoin on August 30, 2015, 07:03:03 AM

Quote from: HarHarHar9965 on August 30, 2015, 06:16:55 AM

Quote from: RealBitcoin on August 30, 2015, 03:56:32 AM

Soon is relative. In terms of fiat years, soon is probably 15-20 years, then it could happen.

Although I dont think the dollar will vanish completely, bitcoin definitely will need atleast 50 years to become a globally used currency. Big changes like that dont happen overnight guys.

yes ofcourse, we are discussing an economic revolution with some people speculating bitcoin could be used by everybody globally. I just can't adapt to such an idea because I see how gold has there for centuries, it still has great value, fiat has been super long and now bringing bitcoin to the fight, it seems bitcoin is just lacking experience. A lot of things can obviously be altered, as times change.

Theoretically it could be done in 5-7 years, but since the inertia of the masses, people evolve very slowly, and dont really like new things.

Bitcoin is so innovative and new that many people cant comprehend it, in my country most guys dont even have a bank account.

I think in countries where banking is popular, bitcoin could be faster,but where it is not there it might need more time for people to adapt.

Best case scenario is about 15 years, i`d give. Worst case scenario 60-70 years.

worst case scenario: never

RealBitcoin

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Quote from: HarHarHar9965 on August 30, 2015, 06:16:55 AM

Quote from: RealBitcoin on August 30, 2015, 03:56:32 AM

Soon is relative. In terms of fiat years, soon is probably 15-20 years, then it could happen.

Although I dont think the dollar will vanish completely, bitcoin definitely will need atleast 50 years to become a globally used currency. Big changes like that dont happen overnight guys.

yes ofcourse, we are discussing an economic revolution with some people speculating bitcoin could be used by everybody globally. I just can't adapt to such an idea because I see how gold has there for centuries, it still has great value, fiat has been super long and now bringing bitcoin to the fight, it seems bitcoin is just lacking experience. A lot of things can obviously be altered, as times change.

Theoretically it could be done in 5-7 years, but since the inertia of the masses, people evolve very slowly, and dont really like new things.

Bitcoin is so innovative and new that many people cant comprehend it, in my country most guys dont even have a bank account.

I think in countries where banking is popular, bitcoin could be faster,but where it is not there it might need more time for people to adapt.

Best case scenario is about 15 years, i`d give. Worst case scenario 60-70 years.

HarHarHar9965

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Quote from: RealBitcoin on August 30, 2015, 03:56:32 AM

Soon is relative. In terms of fiat years, soon is probably 15-20 years, then it could happen.

Although I dont think the dollar will vanish completely, bitcoin definitely will need atleast 50 years to become a globally used currency. Big changes like that dont happen overnight guys.

yes ofcourse, we are discussing an economic revolution with some people speculating bitcoin could be used by everybody globally. I just can't adapt to such an idea because I see how gold has there for centuries, it still has great value, fiat has been super long and now bringing bitcoin to the fight, it seems bitcoin is just lacking experience. A lot of things can obviously be altered, as times change.

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Quote from: planetroving on August 29, 2015, 04:48:02 AM

Quote from: MinerNetwork on August 28, 2015, 11:47:05 AM

I do believe BITCOIN will replace DOLLAR, but I'm not sure how long it could take for this process

I highly doubt that Bitcoin will replace any currency. The dollar is very stable relative to Bitcoin, which the price frequently fluctuates, as seen in the past few years. Nonetheless, Bitcoin is a great alternative.

It does not matter if dollar is strong or weak currency. All that matters is that it is currency over which US government and financial institutions have power.
The need of quantitative easing is just too great. With clear rules of printing money US would be long time gone but since printing money is so easy status quo can be kept.

RealBitcoin

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Soon is relative. In terms of fiat years, soon is probably 15-20 years, then it could happen.

Although I dont think the dollar will vanish completely, bitcoin definitely will need atleast 50 years to become a globally used currency. Big changes like that dont happen overnight guys.

neochiny

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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?

nope it will not... i cant see the future that has no $ ... it will be impossible. but i think bitcoin can be the strongest currency in the future.

HarHarHar9965

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Quote from: MUFC on August 29, 2015, 05:47:41 AM

Quote from: randy8777 on August 29, 2015, 03:55:57 AM

Quote from: MinerNetwork on August 28, 2015, 11:47:05 AM

I do believe BITCOIN will replace DOLLAR, but I'm not sure how long it could take for this process

how about never? it won't happen so stop dreaming about it. set yourself some realistic goals and focus on that. bitcoin is an alternative to fiat, not a replacement.

I agree. I'm not sure if if it would even be a good idea to replace fiat totally but I think and hope it can become somewhat of an alternative payment system or at least a currency you can use all around the world. It already seems like a multi-national currency as its all based on math and numbers and whatever language you speak is irrelevant so that could appeal to people around the world.

Bitcoin is an alternative, not a replacement. I don't think fiat should be eleminated but rather the use of bitcoin could use more promotion. Talking about your argument regarding 'at least a currency you can use all around the world'. Bitcoin can already be accessed and used worldwide, the only reason why it fairly isn't happening as we wish is lack of adoption because lack of knowledge.

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Quote from: randy8777 on August 29, 2015, 03:55:57 AM

Quote from: MinerNetwork on August 28, 2015, 11:47:05 AM

I do believe BITCOIN will replace DOLLAR, but I'm not sure how long it could take for this process

how about never? it won't happen so stop dreaming about it. set yourself some realistic goals and focus on that. bitcoin is an alternative to fiat, not a replacement.

I agree. I'm not sure if if it would even be a good idea to replace fiat totally but I think and hope it can become somewhat of an alternative payment system or at least a currency you can use all around the world. It already seems like a multi-national currency as its all based on math and numbers and whatever language you speak is irrelevant so that could appeal to people around the world.

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Quote from: MinerNetwork on August 28, 2015, 11:47:05 AM

I do believe BITCOIN will replace DOLLAR, but I'm not sure how long it could take for this process

I highly doubt that Bitcoin will replace any currency. The dollar is very stable relative to Bitcoin, which the price frequently fluctuates, as seen in the past few years. Nonetheless, Bitcoin is a great alternative.

randy8777

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Quote from: MinerNetwork on August 28, 2015, 11:47:05 AM

I do believe BITCOIN will replace DOLLAR, but I'm not sure how long it could take for this process

how about never? it won't happen so stop dreaming about it. set yourself some realistic goals and focus on that. bitcoin is an alternative to fiat, not a replacement.

lexuz

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Me, myself and I

Quote from: MinerNetwork on August 28, 2015, 11:47:05 AM

I do believe BITCOIN will replace DOLLAR, but I'm not sure how long it could take for this process

you are wrong bro, dollar is the best for investment because dollar is strong currency. Bitcoin is good too for invesment. One day bitcoin price will up but never can replace dollar as currency

MinerHQ

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Quote from: MinerNetwork on August 28, 2015, 11:47:05 AM

I do believe BITCOIN will replace DOLLAR, but I'm not sure how long it could take for this process

I think your wrong, bitcoin will never ever can replace any currency. It will be just an alternative currency to the exiting currencies.

aakashsangwan

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No, don't think so.
If prices of Bitcoin remain fluctuating like the current dump, then Bitcoin will never be able to replace the usd ever.
So in order to replace the usd the bitcoin should have to be stable in volume and should also have wide acceptance.

novadragon

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no, if bitcoin replace the dollar, then the financial world would be unstable

MinerNetwork

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I do believe BITCOIN will replace DOLLAR, but I'm not sure how long it could take for this process

btc-facebook

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Although it might be possible but with a very little chance. Some point that cause bitcoin can't replace dollar at the moment, like there are some lack of security , it's value still unstable, etc. And because of those, bitcoin still not get much attention as expected

HarHarHar9965

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Quote from: avatar_kiyoshi on August 27, 2015, 03:11:27 PM

LOL you think will replace dollar but you wish the price reaches above $1000, only look in terms of price Roll Eyes

The only reason behind the success of dollar is that it is the official currency to buy petrol, it is called the petrodollar. as far as petrodollar exists, there is trade taking place by all the countries in huge amounts which involve dollar which ensures that dollar will never be stopped using in trade, so all the countries developed value for dollar too similarly, causing U.S to not worry about paying their debt back.

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Bitcoin is always be an alternative currency, but it's better than fiat.

Quote from: Abiky on August 25, 2015, 09:14:56 AM

If Bitcoin reaches above $1000 then I would think that it would replace the dollar. But for now, the price keeps going down and down. Sad

LOL you think will replace dollar but you wish the price reaches above $1000, only look in terms of price Roll Eyes

Topic: Do You Think Bitcoin Will Replace Dollar Soon? - page 274. (Read 417277 times)