Do You Think Bitcoin Will Replace Dollar Soon? - page 93.

acener

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Quote from: Huobi-USD on July 29, 2015, 03:13:36 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?

It's quite impossible, the reason is simple. Government wants control when it comes to finance. If bitcoin will take over dollar, the government will have a hard time and it's quite complicated to centralize bitcoin. People wouldn't want their btc transactions taxed, so I think this idea is really far from reality. It's still quite nice to have fiat money even though we have cryptocurrency.

marcuslong

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Quote from: Haiduongbg on August 03, 2017, 11:42:24 AM

It's impossible. The government will not just wait and see Bitcoin destroys their power. They will impose a lot of regulations in order to discourage merchants and users to adopt Bitcoin. Bitcoin Will Replace Dollar if there's no government

Nope government will support bitcoin but they don't let bitcoin will be lead of all currency all over the world dollar is still the most powerful money in the whole world and it can't replace any kind of currency because all currencies are depending on dollars nowadays if they let bitcoin will lead maybe it is time to say goodbye to our small fees it will become more large fees are comming.

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It's impossible. The government will not just wait and see Bitcoin destroys their power. They will impose a lot of regulations in order to discourage merchants and users to adopt Bitcoin. Bitcoin Will Replace Dollar if there's no government

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Quote from: BitProdigy on July 29, 2015, 03:19:33 AM

I don't think "soon" but I do think after 15 years or so it is a definite possibility. "soon" i guess is a relative term.

Me too, cause not every individuals were aware in mazey route of bitcoin which involve tradings , investments, and marketing strategies that might help you for concluding a better decision regarding bitcoins value. Ill might believe if they are talking about merging of sollars and bitcoin thats possibly going to happen.

leexhin

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Quote from: Huobi-USD on July 29, 2015, 03:13:36 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 think it's not possible. As you can see, the government doesn't have control over bitcoin. They can't moderate bitcoin's price and distribution. Government wouldn't allow it. They would still love to have the people using fiat money where they have control over it. If this happens, bitcoin would be ruined. Transactions will be taxed and even incomes from bitcoin too.

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Quote from: Maslate on August 02, 2017, 07:51:49 PM

Quote from: boyptc on August 02, 2017, 06:52:40 PM

Quote from: ScriptYoYo on August 02, 2017, 08:48:58 AM

I do not think that bitcoin will ever replace the dollar, because it is only a digital currency in contrast to paper money and the world government will not allow the bitcoin to destroy its wealth.

Government will stick to dollars and they will let the people decide on what they are about to use. But if a giant company will give his thoughts about bitcoin like Bill Gates and will implement and push usage of bitcoin and will say that bitcoin can replace dollar. Who knows? Maybe the government can give him a consideration.

They don't let people decide, in fact they control people and let they obey the law they created.
Bitcoin can still be regulated by the government and will give people a chance to use it but it will just be an alternative currency
where we need to buy it with our fiat or dollar.

Yeah most of the countries are predicting what people should do and follow. They can only regulate the transactions but bitcoin's price itself, they can't. This is why they are aware that people will do tax evasion and big bucks will be gone for the profit of the government if they will allow bitcoin to replace the usual method by cash.

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Quote from: ScriptYoYo on August 02, 2017, 08:48:58 AM

I do not think that bitcoin will ever replace the dollar, because it is only a digital currency in contrast to paper money and the world government will not allow the bitcoin to destroy its wealth.

Agree. Bitcoin won't replace the dollar anytime soon, since it has many issues underlying it, not to mention that governments would want a currency that they would control and manipulate, where the pioneer cryptocurrency is decentralized in nature.

Therefore, a currency whose money supply cannot be manipulated, like Bitcoin, cannot become the next dollar. But, I do know this, and that is that governments like the US are devising ways to transition from physical fiat dollars to digital dollars by exploring the blockchain technology.

When governments start rolling their own blockchains or a global blockchain with their own currencies, then they will stay in par with current cryptocurrencies and co-exist for many years to come.

It would be an interesting fact, if Bitcoin continues to survive for many years ahead, as forks continue to emerge. As long as it remains strong, it will be seen as a secondary payments system besides fiat to transact in this highly evolving world. Just my thoughts Grin

mnemonicmind

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I think the future of BTC will depend on how easily people will be able to use it. Most normal people still find BTC too technical, volatile, risky and difficult to spend. As much as we hate it, Ripple could become a big competitor when banks will offer XRP directly through internet banking.

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Quote from: boyptc on August 02, 2017, 06:52:40 PM

Quote from: ScriptYoYo on August 02, 2017, 08:48:58 AM

I do not think that bitcoin will ever replace the dollar, because it is only a digital currency in contrast to paper money and the world government will not allow the bitcoin to destroy its wealth.

Government will stick to dollars and they will let the people decide on what they are about to use. But if a giant company will give his thoughts about bitcoin like Bill Gates and will implement and push usage of bitcoin and will say that bitcoin can replace dollar. Who knows? Maybe the government can give him a consideration.

They don't let people decide, in fact they control people and let they obey the law they created.
Bitcoin can still be regulated by the government and will give people a chance to use it but it will just be an alternative currency
where we need to buy it with our fiat or dollar.

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Quote from: An0nyMoose on August 02, 2017, 07:17:05 PM

Quote from: Huobi-USD on July 29, 2015, 03:13:36 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?

15 years is extremely ambitious. I give it closer to 150 years, and not even playing. My exact guess would be 80-100 years.

Here is the thing... everyone in the world uses some form of fiat. It takes time to do anything. It takes LOTS of time to change minds. Then we need to educate the kids about what Bitcoin even is, and most have no idea. Although most kids have no idea about the concept of money in general, so I guess that doesn't matter.

What I am getting at is this is a huge undertaking and cannot be accomplished "soon".

Yeah I agree with you surpassing U.S. Dollar as a global reserve currency is really a big assumption, I am a Bitcoin Optimist but what the CEO is saying is funny because banks are looking for a stable currency that has growth potential and we all know Bitcoin is not a stable currency when in fact it is a volatile currency. Banks won't have a secure line of back up currency if they keep their reserve as Bitcoin.

An0nyMoose

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Quote from: Huobi-USD on July 29, 2015, 03:13:36 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?

15 years is extremely ambitious. I give it closer to 150 years, and not even playing. My exact guess would be 80-100 years.

Here is the thing... everyone in the world uses some form of fiat. It takes time to do anything. It takes LOTS of time to change minds. Then we need to educate the kids about what Bitcoin even is, and most have no idea. Although most kids have no idea about the concept of money in general, so I guess that doesn't matter.

What I am getting at is this is a huge undertaking and cannot be accomplished "soon".

boyptc

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Quote from: ScriptYoYo on August 02, 2017, 08:48:58 AM

I do not think that bitcoin will ever replace the dollar, because it is only a digital currency in contrast to paper money and the world government will not allow the bitcoin to destroy its wealth.

Government will stick to dollars and they will let the people decide on what they are about to use. But if a giant company will give his thoughts about bitcoin like Bill Gates and will implement and push usage of bitcoin and will say that bitcoin can replace dollar. Who knows? Maybe the government can give him a consideration.

BunnyShibe

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Quote from: ScriptYoYo on August 02, 2017, 08:48:58 AM

I do not think that bitcoin will ever replace the dollar, because it is only a digital currency in contrast to paper money and the world government will not allow the bitcoin to destroy its wealth.

yes i also do not think that bitcoin will replace fiat soon. and for that i think there are a lot of reason. i think the main reason is that the users bitcoin are still low than 2% therefore i do not think that bitcoin can replace fiat. and the second reason is that still majority of government have not yet consider bitcoin as legal currency therefore it is not possible for bitcoin to replace fiat.

warrior333

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Who will ask the government? If people EN masse to abandon the local currency and use bitcoin what can the government do? They certainly will make an attempt to deal with this phenomenon but it will lead to the growth of the shadow economy. I guess they will have to accept bitcoin, but I don't want that. Bitcoin probably will not destroy the dollar, but seriously weaken it can .

ScriptYoYo

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I do not think that bitcoin will ever replace the dollar, because it is only a digital currency in contrast to paper money and the world government will not allow the bitcoin to destroy its wealth.

Finestream

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Quote from: HomeToken on August 01, 2017, 10:06:20 PM

Highly unlikely...However, Bitcoin is already a great alternative that will continue to grow faster.

Me, I believe bitcoin will not stand a chance to replace dollar, though it's popularity is growing now but we cannot deny the fact that dollar has been here for many years and it has gain it's trust by the people and since it is the government who run the country we are living, they can make laws to protect their own in the event of any threat. Bitcoin will be great but only up to a certain point to be as an alternative currency or a payment system.

ekoice

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Bitcoin could not replace dollars soon because it has just finished its initial eight years.USD has been enjoying the position as global reserve currency since past seventy years from the day when oil rich countries OPEC decided to sell petrol only for dollars.USD is known to every one all over the world unlike bitcoin.Bitcoin has been just now legalized in japan and it has to be legalized in most of other countries all over the world for it to be used as USD and for that to happen,bitcoin has to go a long journey.

rohn

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We can't tell what would happen in the future. People will not forget their own local currency in exchange for the use of bitcoin. USD is the strongest currency in the world. People are used to cash as payment and it is used for centuries. Bitcoin can be an international currency but it can't replace Dollar.

HomeToken

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Highly unlikely...However, Bitcoin is already a great alternative that will continue to grow faster.

Joshapat

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Dollar is the world's strongest currency, I'm not sure bitcoin can replace the dollar in the near future, in addition, the US government will not be silent if there is a currency that can beat the dollar. They will do everything to stop the bitcoin if there is any indication of it.

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