Topic: if bitcoin will become the main coin, what will happen to the money we are using - page 7. (Read 1545 times)

if you're expect bitcoin will be replace fiat someday i think you were expect too much for cryptocurrencies and for me there is no digital currencies could be instead of fiat however although if this is happened the money still valuable and there is a possibility for bitcoin and fiat are walking together and equally popular

I think both can be used together because not everyone knows and has a bitcoin so real money will still I use. in addition, bitcoin users will become confident because it can be used for transactions directly.

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.

Bitcoin is a crypto currency and it's valued in dollars and other currencies, so nothing is going to happen to going to happen them, as they both are different, dollars are going nowhere, they will be as it is safe and sound unless Kim Jong decides otherwise, till then all seems good for the dollars. You just need to be patient and not worry, dollars is getting stronger, Bitcoin won't every replace dollars but Bitcoin shall give you the increment that dollars can never give you.

although we know that not really happen or impossible in my opinion about your question if bitcoin is the main coin the money that we using now is maybe disappear if the time when the bitcoin is main coin the money that we use now is only an antique money but what happen to the products. all products and things in market in cyberworld etc. will be higher because bitcoin has a higher crypto currency i think that all products and things will be go up

Paper currencies are costly, there have even been underground storages for emergency reserves, in the rare case of a war happening. During war time it's custom to airdrop counterfeit money bills onto the opponing population (World War 2). That reserve would have been a complete replacement paper bill.
Those preparations costed millions, and decades of maintenance, without beeing of any use so far. Last hundred years!
Safe forms of electronic money could replace that.

However, in such a scenario a blockchain might not be workable anymore, on each grocery shop.

Agree, I've seen this topic many times in different way. I wonder why bitcoin will effect the fiat. Of course bitcoin will not replace the fiat , I will also ask you a question. If there is no us dollars, How do you know the price of the bitcoin ? Bitcoin just like a stock, but you can use it like currency. But it will not change local currency at all.

It will still exist for quiet a few years and yes It will disappear once the government feels that there is no need of paper currency, as it is the evolution of money.

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.

As far as cryptocurrency is concerned, there is no doubt that Bitcoin is the first and the most known coin of all times...it is currently the King of all Cryptos and all the rest are just considered to be altcoins (even including Ethereum and BCH). Now, maybe you have in mind is the fiat or paper money we are now using...what will happen to the US Dollar if all the people of the whole world would suddenly be using Bitcoin?

Well, to answer that question I am giving you another question: Would that really be possible to happen? And my answer is a big NO. I know that Bitcoin may have a good future as a digital currency but it will never totally replaced the fiat money issued and backed by the state power. They may exist alongside each other peacefully but killing each other fatally may not be on the menu.

We have to understand that for as long as there is a government they need something that they can control with because control is an extension of power. Take away that control and the government may itself irrelevant so would the government relinquish the control it needs via the fiat money. Of course not.

I also believe that rather than make the government the central enemy, it would be good for the Bitcoin movement to make it a little friend on its side by giving in to some regulations and some compromises so it may not suffer the fate of being banned. Please give my regards to China!

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