if bitcoin will become the main coin, what will happen to the money we are using - page 4.

Vaculin

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Winding down.

Quote from: haroldtee on October 07, 2017, 04:54:21 PM

Quote from: dimastegar on September 12, 2017, 07:44:06 AM

Bitcoin being the main coin I guess only uncertain predictions. Especially considering the use of Bitcoin that must use the device. Local money will still be loved and widely used as the main currency. Because the original will not be replaced by something intangible.

Let's face it! Not even everyone have access to the Internet or are even informed to know much about bitcoin. Some people still prefer the traditional method of payment even despite the fact that they can go cashless and make all transactions online, let alone adopt to using bitcoin? I don't think so.

Like you said, people will still love fiats, no doubt about that and government will always prefer what they can control and bitcoin to them is not just the best option.

I also agree.Bitcoin as of now can't be considered as our main coin because it's price keeps on fluctuating.Maybe when it will become stable,it might have chances to be our main coin.And by that time,we will pay taxes already depending on the amount we earn.The government will have to control it already.

Victorycoin

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Quote from: ABCbits on September 12, 2017, 06:01:47 AM

Bitcoin has always been the main coin (among other cryptocurrency), but if you mean the main currency including fiat, i think it won't happen because government simply can make regulation or ban bitcoin to prevent that from happening.
But if that really happen, most fiat will lost it's value while some government either adopt bitcoin with regulation/monitoring or strictly forbid any bitcoin activity.

The governments uses their local currencies as of the tools to control people and which is some Bitcoin denies then, so I strongly doubt the governments in their numbers are going to hand over their economy to a technology they're not in any position to effectively monitor and control. Of a fact, we're never going to hear the last of any fiat currency, because those are actually symbols for the various countries they stand for.

haroldtee

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Quote from: dimastegar on September 12, 2017, 07:44:06 AM

Bitcoin being the main coin I guess only uncertain predictions. Especially considering the use of Bitcoin that must use the device. Local money will still be loved and widely used as the main currency. Because the original will not be replaced by something intangible.

Let's face it! Not even everyone have access to the Internet or are even informed to know much about bitcoin. Some people still prefer the traditional method of payment even despite the fact that they can go cashless and make all transactions online, let alone adopt to using bitcoin? I don't think so.

Like you said, people will still love fiats, no doubt about that and government will always prefer what they can control and bitcoin to them is not just the best option.

eaLiTy

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Have Fun )@@( Stay Safe

Quote from: ohlawdy on October 07, 2017, 04:26:09 PM

Quote from: EEE14 on October 07, 2017, 04:21:29 PM

The money we use will not be anything. Because when Bitcoin is the main currency, our money will take the government through tax from Bitcoin.Do not forget that the government is getting smarter from you

Yes they will find a way to stop it .

Let us understand one thing that the world is changing from conventional use of currency and everything is digital and one thing i can assure you is that bitcoin wont be the primary currency in any particular country but view it as a global currency which can used to trade globally without any borders.No governments could stop a decentralized currency,they could only shut down exchanges.

mammoniter

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Quote from: jonathan6655321 on September 12, 2017, 04:00:55 AM

i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?

If you mean about being a main coin is by being the primary currency in one if not in every country then I think if bitcoin reach that stage then that old currency will be completely replaced by bitcoin. So probably every remaining old currencies like dollars will become just an assest than can be converted to bitcoins but will not be reproduced again by banks.

ohlawdy

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- "Bitcore (BTX) - The Future is Now"

Quote from: EEE14 on October 07, 2017, 04:21:29 PM

The money we use will not be anything. Because when Bitcoin is the main currency, our money will take the government through tax from Bitcoin.Do not forget that the government is getting smarter from you

Yes they will find a way to stop it .

EEE14

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The money we use will not be anything. Because when Bitcoin is the main currency, our money will take the government through tax from Bitcoin.Do not forget that the government is getting smarter from you

lady Royal

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Quote from: jonathan6655321 on September 12, 2017, 04:00:55 AM

i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?

Your question is incomplete. First of all Bitcoins is the main crypto currency, It is used by everyone almost, Everyone who comes to cryptocurrency first comes to Bitcoin then goes to some other altcoin. Bitcoin is the main currency, which is digitally used. If you are saying that Bitcoins will take the place of US Dollar or some other fiat, then it is not possible government will never let you do that.

batang_bitcoin

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Quote from: jonathan6655321 on September 12, 2017, 04:00:55 AM

i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?

Don't get it wrong, bitcoin will never be the main currency of the world, of my country and your country. There's nothing that will happen to those currencies that we are using, because that's not possible to happen. This is even more possible that bitcoin will remain as the main cryptocurrency and those alt coins will be wiped out as per the gov't will want that to happen. Forget about that imagination about bitcoin as the main currency of the world.

Idrisu

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Quote from: jonathan6655321 on September 12, 2017, 04:00:55 AM

i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?

you should never thing that bitcoin will completely wiped out fiat money like dollars but we should expect a significant drop on how people use fiat money. Bitcoin is the money of the internet and many people do not have access to internet therefore we should expect many people to use fiat. Governments also issued bitcoin with it backing power and we should not expect them to just adop a money that they will not have control over. Fiat will never be do away from our societies because of the foregoing reasons.

Proton2233

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Quote from: roshanface123 on October 07, 2017, 01:56:05 PM

In my opinion with in a few years the paper currency will entirely change in to electronic currency .The money transactions will be electronic transaction.As per our economic condition value of currency is increasing ,so may be in future there is a chance to use bitcoin as main coin...... Roll Eyes

The use of electronic currency will not change anything. It does not bring recognition of bitcoin. Electronic money is the same Fiat only in a different format. They also are controlled by the state and similarly affected by inflation. The main difference between Fiat and bitcoin is that bitcoin cannot be obtained without labor, therefore he did not threaten inflation. This is good for users but bad for management of the economy. Bitcoin will never be a primary currency because it will collapse the world economy and the world plunged into chaos.

FasTroy

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Quote from: Basmic on October 07, 2017, 09:34:28 AM

Nothing will happen to the dollar and all other national currencies. They all support the national economy and the government will never lose control over them. If I have to ban cryptocurrencies they will do it. The users of cryptocurrencies also earn Fiat to have the opportunity to buy bitcoins. Fiat will never be supplanted by bitcoin.

You are right, If bitcoin will be the main currency in the world, nothing will be happened, because the real currency cannot be destroyed, We can use our local currency + our bitcoin like an option, so there is no problem at all, I think that one day, bitcoin will be used internationally without any problems.

roshanface123

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In my opinion with in a few years the paper currency will entirely change in to electronic currency .The money transactions will be electronic transaction.As per our economic condition value of currency is increasing ,so may be in future there is a chance to use bitcoin as main coin...... Roll Eyes

Xervo

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It is difficult to be sure that bitcoin will completely replace our usual paper money. It has already been said that it is more profitable for the government to control money independently, besides, imposing taxes on them. But there is another aspect - the human, in my country the older generation does not even know what e-mail is. Go to bitcoin for them will be something wild, unreal. It is most rational to use bitcoin and our usual money in parallel.

Opquar

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Fiat will not die anytime soon, even if Bitcoin reaches mainstream adoption. At worst, it will remain an alternative way to pay. It's worth noting that credit cards and NFC payments were able to decrease fiat use, but not significantly.

Basmic

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Nothing will happen to the dollar and all other national currencies. They all support the national economy and the government will never lose control over them. If I have to ban cryptocurrencies they will do it. The users of cryptocurrencies also earn Fiat to have the opportunity to buy bitcoins. Fiat will never be supplanted by bitcoin.

Bittoshi

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Quote from: |Bitkoin| on September 23, 2017, 11:46:59 PM

if Bitcoin is to become the main coin then the paper money we are using now will become digital currency and will be based off of BTCs value.

I also think that more and more fiat currencies will be available in digital form (e.g. in Dubai they start a own governmental cryto currency right now). The value will be measured to bitcoin but the fiat money will still be controlled by the governments.

Harrisonimo

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Quote from: jonathan6655321 on September 12, 2017, 04:00:55 AM

i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
[/quote

Nice one! A good thought for the future here. That is in perspective that the Cryptocurrency eventually takes over the physical cash we have at the moment. I want to believe that there will be a frame time given for withdrawal of the money from circulation and the chance to have it all converted to Cryptocurrency. After which, a stipulated time can be announced when the money will no longer be valid as a means of exchange.

malikusama

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Quote from: jonathan6655321 on September 12, 2017, 04:00:55 AM

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.

chidrawarster

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Bitcoin will be majorly used as virtual currency for digital transactions as major of the countries still have not made bitcoin as the majorly used crypto currency as paper currency is still more important in daily life. For many of the regulated payments & taxes of governments , paper currency is mostly used .There is still ray of hope for bitcoin in the coming days as demand for the same is day by day booming & most of the merchants may also switch over to this soon. Lets hope for the best.

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