Bitcoin Forum>Bitcoin>Bitcoin Discussion
Pages:
Author

Topic: Does Bitcoin Has What It Takes To Replace Fiat? (Read 3399 times)

KimNam
hero member
Activity: 644
Merit: 500
Does Bitcoin Has What It Takes To Replace Fiat?
April 29, 2015, 04:32:34 AM
#84
Sure if our world accept digital payment with "paperless" method
bitcoin can't be produced meanwhile USD can be printed anytime by The FED, so in long term USD will inflate every time
it will be faster if fiat fail and high rate of inflation happen in economic crisis, many people will look another of currency.
Gold will chosen as hedge fund and I hope bitcoin chosen as alternative currency
Quote from: deluxeCITY on April 26, 2015, 09:31:12 AM
Quote from: magic ice on April 21, 2015, 11:06:55 PM
Last year Bitcoin was labeled as the worst investment of 2014, however, bitcoin believers can topple fiat currencies as the widely used mode of payment all over the world. The technology behind it and bitcoin's scarcity can both pose a threat and bitcoin's selling factor. But the question is, can bitcoin really substitute dollar or other currency sometime soon?

Who and where was bitcoin labled as the worst investment of 2014 you have got me curious to say the least?

Not every bitcoin believer believes it can topple fiat currencies just a few of the extremists but they also believe bitcoin will reach 1,000,000 a coin so you should not really read to much into what they are saying.

imo no bitcoin will not substitute and fiat currency any time soon and the country which it did would be in very bad trouble not sure bitcoin will pull them out of that  Undecided
I think it's only personal opinion from some fund manager, because the price of bitcoin constantly decrease from start of the year until end of last year.
Compare to another type of investment, bitcoin is losing 60% of its value Sad which is bad thing for investment
Oscilson
sr. member
Activity: 434
Merit: 250
Re: Does Bitcoin Has What It Takes To Replace Fiat?
April 29, 2015, 03:30:20 AM
#83
Quote from: Billy Hlapinnio on April 27, 2015, 04:18:26 AM
I think that one of the biggest problems with the Bitcoin is it unstable condition and the fact that it is less secure than the normal money.

With further development, it will be safer. If it is adopted widely, more user base, not a speculation tool, it will be more stable.
Billy Hlapinnio
newbie
Activity: 42
Merit: 0
Re: Does Bitcoin Has What It Takes To Replace Fiat?
April 27, 2015, 04:18:26 AM
#82
I think that one of the biggest problems with the Bitcoin is it unstable condition and the fact that it is less secure than the normal money.
Amph
legendary
Activity: 3248
Merit: 1070
Re: Does Bitcoin Has What It Takes To Replace Fiat?
April 27, 2015, 02:38:51 AM
#81
Quote from: deluxeCITY on April 26, 2015, 09:31:12 AM
Quote from: magic ice on April 21, 2015, 11:06:55 PM
Last year Bitcoin was labeled as the worst investment of 2014, however, bitcoin believers can topple fiat currencies as the widely used mode of payment all over the world. The technology behind it and bitcoin's scarcity can both pose a threat and bitcoin's selling factor. But the question is, can bitcoin really substitute dollar or other currency sometime soon?

Who and where was bitcoin labled as the worst investment of 2014 you have got me curious to say the least?

Not every bitcoin believer believes it can topple fiat currencies just a few of the extremists but they also believe bitcoin will reach 1,000,000 a coin so you should not really read to much into what they are saying.

imo no bitcoin will not substitute and fiat currency any time soon and the country which it did would be in very bad trouble not sure bitcoin will pull them out of that  Undecided

many articles, had talked of about the worst investment of 2014, and the result was bitcoin apparently, but again this is just willy bot fault, that caused a collapse from a faked pump

http://blog.zebpay.com/bitcoin-was-also-the-worst-performing-investment-in-2011-2012-and-2013/

who also believe that it will not replace fiat it may talk bullshit, the answer is not known, it just unlikely to happen not certainly impossible
Beliathon
hero member
Activity: 784
Merit: 1000
https://youtu.be/PZm8TTLR2NU
Re: Does Bitcoin Has What It Takes To Replace Fiat?
April 26, 2015, 07:09:29 PM
#80
Quote from: magic ice on April 21, 2015, 11:06:55 PM
Does Bitcoin Has What It Takes To Replace Fiat?
Does fiat have what it takes to survive the information age?
johnyj
legendary
Activity: 1988
Merit: 1012
Beyond Imagination
Re: Does Bitcoin Has What It Takes To Replace Fiat?
April 26, 2015, 05:28:39 PM
#79
Quote from: shulio on April 26, 2015, 12:58:30 AM
Quote from: johnyj on April 25, 2015, 11:13:33 PM
If fiat money failed, then bitcoin will go mainstream, but what could cause the fiat money system to fail?

Please share your thoughts at this thread
https://bitcointalksearch.org/topic/what-would-cause-the-failure-of-fiat-money-system-1038189




If fiat failed then bitcoin is also a failure since there isnt anymore value to it because bitcoin is always tagged with the fiat value. This is what still give bitcoins its name. Since people will left bitcoin if the value drop to zero USD, So both of them needs to stay up together but bitcoin will be the one taking over online payment system

You can tag bitcoin with fiat money or tag fiat money with bitcoin, just like the exchange rate of any two currencies. I don't see why the method of tagging matters. 1 Euro is 1.1 Dollar, 1 dollar is 0.9 euro, 1 bitcoin is 220 dollar, and 1 dollar is 0.0045 bitcoin

If fiat failed, its value will drop against everything else, like we see in Zimbabwe. So far hyper inflation is the major cause of a fiat money failure, but there were also other causes, for example in a war when the government was going to lose, the currency backed by that government would start to lose value quickly

Money's value barely hangs on confidence, and since the removal of gold standard, the confidence of fiat currency is only backed by merchant acceptance. Imagine that one day those merchant wakes up and want to get rid of bank's robbery, they start to refuse fiat money payment, then who knows what will happen to fiat money. Notice that there is no law that says people must accept fiat money (unless they are in debt). You can not point guns at people to force them to accept fiat money, since by then the weapon manufacturer also do not accept fiat money  Wink

deluxeCITY
hero member
Activity: 532
Merit: 500
Re: Does Bitcoin Has What It Takes To Replace Fiat?
April 26, 2015, 09:31:12 AM
#78
Quote from: magic ice on April 21, 2015, 11:06:55 PM
Last year Bitcoin was labeled as the worst investment of 2014, however, bitcoin believers can topple fiat currencies as the widely used mode of payment all over the world. The technology behind it and bitcoin's scarcity can both pose a threat and bitcoin's selling factor. But the question is, can bitcoin really substitute dollar or other currency sometime soon?

Who and where was bitcoin labled as the worst investment of 2014 you have got me curious to say the least?

Not every bitcoin believer believes it can topple fiat currencies just a few of the extremists but they also believe bitcoin will reach 1,000,000 a coin so you should not really read to much into what they are saying.

imo no bitcoin will not substitute and fiat currency any time soon and the country which it did would be in very bad trouble not sure bitcoin will pull them out of that  Undecided
LFC_Bitcoin
legendary
Activity: 3556
Merit: 9709
#1 VIP Crypto Casino
Re: Does Bitcoin Has What It Takes To Replace Fiat?
April 26, 2015, 08:27:29 AM
#77
It does but certainly not in our lifetimes.

I think the price of one bitcoin can become 100,000 dollars in my lifetime but to replace fiat will take many decades.
BTCevo
legendary
Activity: 1834
Merit: 1008
Re: Does Bitcoin Has What It Takes To Replace Fiat?
April 26, 2015, 07:08:21 AM
#76
Quote from: Troonetpt on April 26, 2015, 02:48:23 AM
Quote from: Frost on April 25, 2015, 11:19:22 AM
Nothing will replace fiat ever.
I will not say forever, but I agree I didn't see the potential.

For now of course bitcoin still doesnt have any potential but in a next few years or decade it must show the potential to change fiat money but all is depends on the market out there to make this possible
Troonetpt
sr. member
Activity: 322
Merit: 250
Re: Does Bitcoin Has What It Takes To Replace Fiat?
April 26, 2015, 02:48:23 AM
#75
Quote from: Frost on April 25, 2015, 11:19:22 AM
Nothing will replace fiat ever.
I will not say forever, but I agree I didn't see the potential.
Only if the nation disappear, there will have the potential to replace the fiat.
Amph
legendary
Activity: 3248
Merit: 1070
Re: Does Bitcoin Has What It Takes To Replace Fiat?
April 26, 2015, 02:45:36 AM
#74
Quote from: Frost on April 25, 2015, 11:19:22 AM
Nothing will replace fiat ever.

everything has a lifespan, and fiat is not excluded, will be replaced some day, maybe not from bitcoin, but from something that share similarity, also why you think that some bank acquired the blochchain technology? they are preparing to the death of fiat while they are fearing the bitcoin tech...
shulio
legendary
Activity: 1540
Merit: 1016
Re: Does Bitcoin Has What It Takes To Replace Fiat?
April 26, 2015, 12:58:30 AM
#73
Quote from: johnyj on April 25, 2015, 11:13:33 PM
If fiat money failed, then bitcoin will go mainstream, but what could cause the fiat money system to fail?

Please share your thoughts at this thread
https://bitcointalksearch.org/topic/what-would-cause-the-failure-of-fiat-money-system-1038189




If fiat failed then bitcoin is also a failure since there isnt anymore value to it because bitcoin is always tagged with the fiat value. This is what still give bitcoins its name. Since people will left bitcoin if the value drop to zero USD, So both of them needs to stay up together but bitcoin will be the one taking over online payment system
Beliathon
hero member
Activity: 784
Merit: 1000
https://youtu.be/PZm8TTLR2NU
Re: Does Bitcoin Has What It Takes To Replace Fiat?
April 25, 2015, 11:40:20 PM
#72
Quote from: Frost on April 25, 2015, 11:19:22 AM
Nothing will replace (____) ever.
Famous last words homeslice. Ever is a word representing a span of time apparently beyond your comprehension.

Quote from: tescomatty on April 25, 2015, 01:02:14 PM
Until we get a united country of earth and there is a big movement toward unity, I think fiat will remain a strong entity and also symbol of each individual country.
I agree. Feudal society took about a thousand years to coalesce into the modern nation state. We've been doing that for about 300 years or so, and we're getting close to the next rapid transformation. Advances in communications technology are shaking things up once again.
johnyj
legendary
Activity: 1988
Merit: 1012
Beyond Imagination
Re: Does Bitcoin Has What It Takes To Replace Fiat?
April 25, 2015, 11:13:33 PM
#71
If fiat money failed, then bitcoin will go mainstream, but what could cause the fiat money system to fail?

Please share your thoughts at this thread
https://bitcointalksearch.org/topic/what-would-cause-the-failure-of-fiat-money-system-1038189

tescomatty
full member
Activity: 143
Merit: 100
Re: Does Bitcoin Has What It Takes To Replace Fiat?
April 25, 2015, 01:02:14 PM
#70
Unlikely. Until we get a united country of earth and there is a big movement toward unity, I think fiat will remain a strong entity and also symbol of each individual country. Fiat is simply too entrenched.
Sheldor333
sr. member
Activity: 406
Merit: 250
Re: Does Bitcoin Has What It Takes To Replace Fiat?
April 25, 2015, 12:36:55 PM
#69
Not right away, but one day sure. I mean becoming dominant, not just mainstream.
uininPeter
full member
Activity: 141
Merit: 100
Re: Does Bitcoin Has What It Takes To Replace Fiat?
April 25, 2015, 12:28:12 PM
#68
I think fiat is already being replaced, but not in a way we think. Think of the prevalence of credit cards. Sure they are still based in usd, but they are nothing more than data on a computer. The idea of cold hard USD and fiat is dying, and I think its a good chance for bitcoin to take.
Frost
hero member
Activity: 602
Merit: 508
Re: Does Bitcoin Has What It Takes To Replace Fiat?
April 25, 2015, 11:19:22 AM
#67
Nothing will replace fiat ever.
Anirban Sarkar
newbie
Activity: 55
Merit: 0
Re: Does Bitcoin Has What It Takes To Replace Fiat?
April 25, 2015, 11:07:31 AM
#66
Yes bitcoin has potential to replace fiat and it is going to happen !!!
BTCevo
legendary
Activity: 1834
Merit: 1008
Re: Does Bitcoin Has What It Takes To Replace Fiat?
April 25, 2015, 10:39:35 AM
#65
Quote from: AtheistAKASaneBrain on April 25, 2015, 09:20:03 AM
Quote from: BTCevo on April 25, 2015, 09:07:46 AM
Quote from: ?? on ??
Quote from: sana54210 on April 25, 2015, 05:30:08 AM
Yes, Bitcoin has the potential to replace fiat and it is going to happen eventually when there is more wide adoption of bitcoin, it will obviously take time, we can expect it to become a reality within a decade which is totally possible. If it happens, it will greatly reduce the bureaucracy of governments as Bitcoin cannot be centralized.

I don't think it will happen because there will always be people who don't want to depend on electronics and have a physical form of currency just in case. And these people won't be that 1% everybody laughs at, there's more of them than you might think.
Bitcoin still requires an investment: you need a phone or a computer with internet access and you just need to have a pocket to hold fiat Wink


Nope, it will change the fiat sooner or later, nowadays people surely need electronics no matter what because in every year our technologies develope in so many variety ways that need electric, electricity can't die. Bitcoin is waiting for coming in a new era and will change the fiat it every aspec


This is not a competition to challenge fiat and destroy it. It's good that the fiat scam exists, so we can get the contrast of how it's correctly done with Bitcoin. Let them run national currencies, who cares as long as we have the BTC alternative.

This is your saying but surely the government will try to destroy it if there is any contra with this bitcoin, altough for now bitcoin is still safe may be one day when bitcoin is trying to change the currency government will try to act what are they suppose to do in other to destroy it. As long as you got btc but your btc value is drop significantly how are you going to face it?
Pages:
Bitcoin Forum>Bitcoin>Bitcoin Discussion
Jump to: