Topic: Is bitcoin a threat to USD and Pound Sterling? - page 10. (Read 1403 times)
Looks like bitcoin does not threaten the USD and Pound Sterling, because people are still exchanging bitcoins to USD. Means the state of bitcoin is also very dependent on the USD, because the use of bitcoin is still not maximal unlike USD which can be used anywhere.
Cryptocurrencies are not controlled by any country so its good if it would be a threat to any other controlled currencies but i highly doubt that will happen in the near future.
Hello guys,
Do you think bitcoin will be a threat to USD and Pound Sterling in the nearest future?
if yes, give an estimated time this can happen.
Do you think bitcoin will be a threat to USD and Pound Sterling in the nearest future?
if yes, give an estimated time this can happen.
Bitcoin is never a threat to USD, pound sterling or to any other fiat currencies all around the globe. Cryptocurrencies were not made to destroy fiat currency but this is made to complement the fiat currencies to overcome its weakness which is the monetary deflation due to economic collapse or overprinting of paper money. Though bitcoin is not a threat to the current fiat currency it is a threat to the banking system since bitcoin wants to us to be our own banks and will no longer rely on the unjust and unfair traditional banking system practices.
There is a threat, I think that the next 10 years will be decisive ...
Hello guys,
Do you think bitcoin will be a threat to USD and Pound Sterling in the nearest future?
if yes, give an estimated time this can happen.
Do you think bitcoin will be a threat to USD and Pound Sterling in the nearest future?
if yes, give an estimated time this can happen.
It's not a threat to USD. It's just an alternative, there is space for both. In international transactions, internet payments, etc, BItcoin may be a preferred payment system.
But I doubt USd will de threatened. However, just in case, I hold some BTC
Right now, bitcoin is gaining strength and someday in future (very near future), bitcoin will be used as USD - to value and convert almost everything.
All government backed currencies derive their legitimacy from the government and give power and control back to the governments in return. The system works well if you assume all actors are honest and have the general population's best interests in mind.
History has shown that is hardly the case. More often than not banks, governments and businesses collude to create conditions where inequities keep increasing and those at the bottom continue to serve those at the top. This is enabled by an unlimited currency supply which only gets inflated and the burden is passed on to the common people.
Bitcoin has the power to change this equation with it's property of being a decentralized currency that does not need a trusted party like the government to give it legitimacy. It is power to the people as people choose to believe in verifiability and robustness of the underlying code and network rather than the central bank's word. So yes, As far as the long term effect is concerned, it is definitely a threat to established currencies.
History has shown that is hardly the case. More often than not banks, governments and businesses collude to create conditions where inequities keep increasing and those at the bottom continue to serve those at the top. This is enabled by an unlimited currency supply which only gets inflated and the burden is passed on to the common people.
Bitcoin has the power to change this equation with it's property of being a decentralized currency that does not need a trusted party like the government to give it legitimacy. It is power to the people as people choose to believe in verifiability and robustness of the underlying code and network rather than the central bank's word. So yes, As far as the long term effect is concerned, it is definitely a threat to established currencies.
I do not think anyone is threatened with bitcoin coming in and that includes dollars, all mutual benefits in transaction activity because until now most bitcoin is still used in online transactions.
With so many people transacting using bitcoins or other cryptoes it could threaten the dollar with a run, and I think within the next 10 years it's enough.
I do not think Bitcoin is a threat to both. Because basically everyone who holds Bitcoin will still exchange their Bitcoin with local currency, in order to be used to transact traditionally. We know that Bitcoin can only be used online, while dollars and poundstreling can be used online and offline for wider transactions. So, Bitcoin is not a threat.
Sometimes there are people who think like that, but I think that is not a threat to the dollar, because I think all have their own place in the use of this currency.
Dollar is now used for most of the international transactions all over the orld. It's not fair that USA can control all the countries transactions. I think it will change in future. A cryptocurrency which is not controlled by a special country is a good option. But It's difficult to predict that currency will be bitcoin or not.
Hello guys,
Do you think bitcoin will be a threat to USD and Pound Sterling in the nearest future?
if yes, give an estimated time this can happen.
Do you think bitcoin will be a threat to USD and Pound Sterling in the nearest future?
if yes, give an estimated time this can happen.
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