Topic: if bitcoin will become the main coin, what will happen to the money we are using - page 5. (Read 1545 times)
October 07, 2017, 08:38:28 AM
If ever that's the case then I think the money that has been here will always be there but maybe with lesser value than Bitcoin. That is "if" Bitcoin will become the main coin which is too far and impossible to happen. And bitcoin would have to be centralized by then.
October 07, 2017, 08:30:55 AM
I see governments inching ever so close on cryptocurrency seeing the positive benefits of bitcoin plus the blockchain technology which recorded all transactions in a chain. Making their own crypto could potentially replace coins and paper money which also cost a significant sum in production, plus it's easier to tax people seeing their own spending recorded on a chain. Russia is gearing for a head start, and has introduced their plan on creating CryptoRuble, so we aren't really far off from fiat turning into digital money which bitcoin pioneered.
October 07, 2017, 08:21:53 AM
i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
Bitcoin ,if it becomes the main coin, then fiat will try to beat it and overthrow it, because like it or not people will support fiat and not bitcoin if there is a world wide poll, people don't like bitcoin because of one, it's related to technology. Two, the amount of FUDs against bitcoin and three, it has no government control. These might add up as a big part and people will be very must against it. 
October 07, 2017, 01:43:34 AM
I believe that the usual money will almost always exist along with the crypto currency even when it is recognized throughout the world. Now Sweden and Denmark say that they will completely switch to the digital currency. However, I do not believe in the success of such an experiment. It is simply technically impossible to completely switch to crypto currency.
October 07, 2017, 01:19:02 AM
Actually it's not gonna happen why? We all know that the government needs taxes in order to fund various public expenditures. So if we all work in cryptocurrency world and earn a lot they will not gonna track us because we only use wallet as our identity. So if they can't track us they can't put us a tax and they can't improve the country.
so some of the countries try to ban bitcoin.
so some of the countries try to ban bitcoin.
October 06, 2017, 11:35:57 PM
i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
Our paper money and coin will still be paper money and coin. It will not vanish, and I believe that bitcoin are just digital currencie, unless they release a paper form of bitcoin but as far as I know it will not happen. It will stay as what it is, and the only thing that will change is its value. Just like our paper money, it will stay but its value will change. September 28, 2017, 10:39:38 AM
i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
Dollar (USD) are not backed by anything so it is just worthless technically but it is used worldwide just because of political power of US government. US government is actually in $20 trillion+ debt right now because they are printing dollar every year. This can't be like this for next few decades, when bitcoin will be adopted in most of the countries than this dollar or other fiats will be just worthless like it should be.
September 25, 2017, 11:43:54 PM
i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
old things give their place to the new and better options. that has always been the case of the world. money as we know it today (aka Dollar, etc) have not always been like this. it was not paper printed neatly, it was coins, then before that it was goods and a lot of weird things.
bitcoin or some form of digital cryptocurrency may some day replace fiat too. but it won't be fast and probably not in our lifetime.
September 23, 2017, 11:58:15 PM
If bitcoin will become the global currency all paper money will be surrendered to central banks the problem is that I don't think bitcoin can sustain the growing demand of all countries the supply of bitcoin is not enough to replace the currencies in the world so maybe this is quite impossible to happen
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.
September 23, 2017, 10:51:51 PM
i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
The fate of fiat money depends on government decision. They may decide to adopt cryptocurrency and make their own coin and scrap fiat money or they can continue using it so they can print more money again and again. The government needs control in order for them to function properly. September 23, 2017, 10:38:12 PM
If bitcoin is widely spread all over the world, it will not completely replace the currency fiat, which is currently used. This can not happen in the real future. Existing currencies will long walk along with the digital currency. In order for people to fully switch to the digital currency, it is necessary not only official legislative recognition of the digital currency. It is necessary that absolutely all citizens have access to the Internet, had for this technical knowledge, and this is not feasible.
September 21, 2017, 10:41:22 AM
i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
Dollar (USD) are not backed by anything so it is just worthless technically but it is used worldwide just because of political power of US government. US government is actually in $20 trillion+ debt right now because they are printing dollar every year. This can't be like this for next few decades, when bitcoin will be adopted in most of the countries than this dollar or other fiats will be just worthless like it should be.
September 21, 2017, 10:37:32 AM
) that means we own one of the world's major currencies, the most widely used currency in the world. When that happens, it means we no longer have to worry about that oneday, btc will collapse and pull a huge amounts of money. And that means that in the near future, where we live will have BTC ATM Stations ... and services that accept payment by btc. 
September 21, 2017, 10:17:23 AM
Do not think too much about that. We know that Bitcoins would have trouble reaching that state to be the Main Currencies of the whole world. But because we know that nothing is impossible in this world. I will give my opinion. I think if this happens then the cyclical money now in our country will disappear, of course. And it will be one thing to remember. It can be an alternative payment and so on. At the moment the progress of bitcoins has been shown well. Let's take the time to judge and let us go along with what's happening
September 21, 2017, 10:09:55 AM
i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
Bitcoin it virtual currency and fiat and the like are physical currency. We hold them everyday of our lives in small transactions which bitcoin i think will complicate in using instead. So physical currency will not disappear in my opinion. September 21, 2017, 09:28:25 AM
i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
I believe the day when this thing will happen, that day will be the big day for all of the investors and believers of Bitcoins. This will be like a turning moment for all of us, and after that day we can surely expect very different world then we are living in now. Things won’t remain the same as they are now. September 12, 2017, 11:47:44 AM
I think a local fiat is needed in a country.
A central bank needs to be able to take influence on the money the economy deals mainly with in order to keep the economy of the country competitive.
That can't be done with bitcoin. The crypto currencies are an addition to the fiat system. But I think they should not replace them.
A central bank needs to be able to take influence on the money the economy deals mainly with in order to keep the economy of the country competitive.
That can't be done with bitcoin. The crypto currencies are an addition to the fiat system. But I think they should not replace them.
September 12, 2017, 11:18:42 AM
Of course our money will continue to exist and can be used until whenever, this is because fiat money will continue to be protected by the state through the central bank.
I like how you say protected when I think you mean forced
September 12, 2017, 11:17:56 AM
i wonder: if Bitcoin will become the main coin, what will happen to the money we are using now like us dollar?
Altcoins like dollars will still be useful for paying off your govt (aka taxes), as well as anonymous transactions for booze (oh wait, that’s legal now), weed (oh, wait...), hookers?, crime?
Worst case, shredded and fluffed they make great filling for pillows as the paper is actually a high quality cotton hybrid.
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