Topic: if bitcoin will become the main coin, what will happen to the money we are using (Read 1545 times)
April 24, 2018, 03:23:42 PM
I am convinced that ordinary money is almost always present with crypto currency even when it is recognized worldwide. Now in Sweden and Denmark they say they will be fully converted to digital currencies. But I do not believe in the success of such an experiment. Technically it is not possible to completely migrate to crypto currency.
April 24, 2018, 01:04:52 PM
Let's put the word "if".
My answer is the situation of bitcoin now will be the site of the money when Bitcoin ways win, money will be the secondary option to pay for things,, and more likely reserve as payment during system are in maintenance or breakdown...
My answer is the situation of bitcoin now will be the site of the money when Bitcoin ways win, money will be the secondary option to pay for things,, and more likely reserve as payment during system are in maintenance or breakdown...
April 24, 2018, 12:59:22 PM
first .. i think bitcoin will not replace conventional money like dollars and take place as the main currency.
Although there is a possibility in the future digital currency will be more dominant, because it is easier to use compared with conventional currency such as dollars.
Although there is a possibility in the future digital currency will be more dominant, because it is easier to use compared with conventional currency such as dollars.
April 24, 2018, 12:46:38 PM
You forget that the biggest driver behind fiat money is the government. As long as taxes are due to the government and they have to be paid in fiat, there will be use for your dollars and euros. No government is going to accept that bitcoins are more valuable than the fiat they print; hence the government will continue to accept fiat money at least for taxes and penalties.
I think most Fiat will lose its value while some government adopt bitcoin with rules / monitoring or prohibit hard activity bitcoin. bitcoin always been a major currencies (among cryptocurrency other), but if you mean major currencies including Fiat, I think it's not going to happen because of the government can only be made regulation or prohibit bitcoin to prevent it happen.
April 24, 2018, 12:17:05 PM
I do not think bitcoin can replace the money that now exists. Because after all the paper money is a medium of exchange that is often used by all people in the world.
April 24, 2018, 09:06:02 AM
i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
I think such money will still be in use because there are so many people who can not use bitcoin. Most of these people may be illiterates. Until such people can make transactions on their, they will still hung on to the local paper money. 
April 24, 2018, 08:57:52 AM
Bitcoin is a treasure. It's the main coin, but its not same thing as dollar. There is no indication that fiat money influence Bitcoin price after all. Bitcoin has been developing on its own, disregarding international news and major currencies movement.
April 24, 2018, 08:51:11 AM
If bitcoin becomes a major currency and goes into use as cash. Trading in daily activities will become more difficult. Especially this will not happen in Vietnam. Because in Vietnam, using currency unit of VND, it must be converted in US dollars and converted into bitcoin. Moreover, in Vietnam very few people use bitcoin.
April 24, 2018, 08:38:15 AM
i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
If bitcoin becomes the main currency then paper money will be left out and even paper money will lose its value and will be lost. But it seems like it will be very difficult to happen, because the government will not let that happen.
April 24, 2018, 08:26:38 AM
I think it's so unpredictable. While governments will want to use paper money power, it will exist
April 24, 2018, 08:21:40 AM
iF the bitcoin is the main coin of our generation we will have a uniform currency which can be ised by all people in the whole world.
It is great because they don't need to enter in foreign exchange just to change their money. In bitcoins all things will be systemically arranged.
It is great because they don't need to enter in foreign exchange just to change their money. In bitcoins all things will be systemically arranged.
April 07, 2018, 08:57:52 AM
i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
I think Bitcoin is more on alternative money to fiat or local money
paper money are audited by the government to initiate how much growth in economy of a particular country
if bitcoin will be on main money then the government will adjust and it is hard to audit and trace the bitcoin because of Decentralization
so I think it will not replace instead will alternative only
October 22, 2017, 10:12:52 AM
i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
I think that it won’t affect the main currency like USD or any other local currency of the respective country. The main reason is national currency can’t be carried away so easily which is representative of respective currency and it is also not replaceable because of traditional use of it. Just imagine how people or we ourself will react about it and that could be chaos for national economy too. Plus bitcoin can’t become main currency due to its limited number and insufficient reach to all over globe. So that’s simple why it can’t become main coin.
October 22, 2017, 10:05:19 AM
i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
this question is often in this forum. much debate with what you say. between pros and cons. I think it's very difficult and probably never will happen.
October 22, 2017, 10:01:56 AM
Well you know fiat can't be replaced In the first place, because right now there isn't any strategy to counter the ill effects of replacing it.
Bitcoins are a cryptocurrency for a reason, they might have been a Normal currency but it isn't, because its meant to serve like an investment similar to gold , its not meant to be brought into the market as a regular currency is what I feel.
Take for example :-
The people who are old and poor, those wuo don't know about internet and cards , the kids who are yet to understand the difference between fiat and money ..aill they be able to use it ? Will there be any appropriate software available in the market ? Will that be easily accessible and cheap?
There are a lot of things that is of concern
Obviously bitcoins can't replace fiat! For sure but they can be accepted as a global currency which everyone can make use of without any boundaries.
Bitcoins are a cryptocurrency for a reason, they might have been a Normal currency but it isn't, because its meant to serve like an investment similar to gold , its not meant to be brought into the market as a regular currency is what I feel.
Take for example :-
The people who are old and poor, those wuo don't know about internet and cards , the kids who are yet to understand the difference between fiat and money ..aill they be able to use it ? Will there be any appropriate software available in the market ? Will that be easily accessible and cheap?
There are a lot of things that is of concern
Obviously bitcoins can't replace fiat! For sure but they can be accepted as a global currency which everyone can make use of without any boundaries.
October 09, 2017, 11:50:18 AM
Fiat currencies will always be there, we can't know about Bitcoin tho. Governments will never give up their currencies for something they dont control.
October 09, 2017, 11:49:09 AM
It may be that the money spinning now will be gone and will make this second currency and it will be available to poor people who can not keep pace with what is happening in the future. I can hardly afford you to buy tools to have bitcoins and of course you can not use them. So what happens when money is used by everyone is still available but it is for those who can not afford to buy cell phones and computers /
October 09, 2017, 11:36:42 AM
if main coin that you mean is currency in real world, i think bitcoin cannot replace regular money. because of regulation per region about this currency and its region currency will be crash. im not sure too. that's just my opinion 
Yes that can be happen because both of them are important and they are making the good difference for the coming days of the money. The bitcoin is getting more and more famous the people are buying bitcoin for the cost of the profit so make bitcoin hold for the long time and make money from your money. October 08, 2017, 06:02:18 PM
i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
Government of any country or state will never accept bitcoin as a main or national currency because of the following reasons.1) Bitcoin is decentralized having no central authority to control it, government will never allow a currency which is not in their supervision and control.
2) Transactions are anonymous and it will be difficult or impossible for government to check the transaction details of anyone.
3) Taxation issue. It will be difficult to collect taxes from the users over the network.
October 08, 2017, 03:06:29 PM
i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
This thing is impossible to happen because bitcoin is a decentralized stuff which means no one would able to control it. Government throughout the world wont really allow such thing to happen and besides every countries currency symbolizes their power which means having a main coin isnt possible at all and add it up the supply of bitcoin is just 21M which wont really be sufficient on the people who would use it globally. Jump to: