Is bitcoin a threat to USD and Pound Sterling? - page 8.

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Quote from: kappajess on May 15, 2018, 06:27:55 PM

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.

No, it can't threaten them directly.The way foreign currencies work and their market estimates run, are entirely different than that of the bitcoin markets.Cash isn't limited in supply,notes are printed.The usage of bitcoin will not affect them unless majority of the markets choose to accept bitcoin as a primary method of payment over cash.

I

trecore4

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Quote from: kappajess on May 15, 2018, 06:27:55 PM

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.

Bitcoin : The most unregulated thing in the world with no real presence Having the investment based on the illegal tender around the country and Reserves Banks polishing the notices that they will ban it soon and anyone putting money into it is taking their own risk of doing so.

USD/GBP or any fiat : Is highly regulated one, under authority of Reserve bank and with rightful laws given the permission to trade with full confidence within the country and over the international transactions. Tongue

Now you tell me do you really think that BTC is threat to the USD or GBP.

keycellko

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I don't think so. I think bitcoin will help the economy even. We exchange out btc to usd. I don't know with other countries but this would really be beneficial. When we withdraw our btc it most exchanges i know exchange it to usd so it would even help pump up the dollar.

irenegaming

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No, I don't think that Bitcoin is a threat to USD, pound sterling or any other currency in the world. The governments would never let a currency take over their national currency and they would ban it before it will even become a threat to their currency. Think of Bitcoin as a parallel currency which is digital.

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Quote from: kappajess on May 15, 2018, 06:27:55 PM

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.

I dont think bitcoin is threat for dollar or poundsterling. Bitcoin is cryptocurrency with limited supply and its can not compare with dollar supply that flooding in the world. I think bitcoin is like new digital asset that we can bring anywhere and used anytime

shoreno

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Quote from: boakyei on May 26, 2018, 04:29:56 AM

A threat like making USD and Pound sterling go extinct? then no. fiat currencies can't be done with because of cryptocurrencies. Bitcoins is operating in it own domain as a peer to peer payment while fiat too is fulfilling it purpose as government legal tender.

but still btc can still be a big threat to usd or any other local currencies because many people right now are started to recognized and use btc when compared to local currencies. Sooner or later btc can dominate all other currencies if this trend will continue to happen.

Quote from: coinnumber on May 26, 2018, 04:16:09 AM

I think Bitcoin is a big threat to Dollar because most of the countries round the globe 🌐 makes use of dollars for exchange. And I believe bitcoin will overcome dollars and pounds in the nearest future despite the fact that they are trying all means not to make bitcoin generally acceptable it will overcome on a very good day.

That is what im also thinking but i guess there can still be people who will continue to use fiats because they dont have access to these bitcoin and other cryptos . Few examples could be poor people that cant afford to buy a gadget that is internet enabled and if ever they can afford it they can still be having a hard time to understand and learn cryptos because they are not educated due to poverty.

boakyei

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A threat like making USD and Pound sterling go extinct? then no. fiat currencies can't be done with because of cryptocurrencies. Bitcoins is operating in it own domain as a peer to peer payment while fiat too is fulfilling it purpose as government legal tender.

vlom31

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Depends on the timeframe imho, on a long enough timeframe I do think cryptocurrencies will make a dent in fiat money, and in Bitcoin's case also in precious metals value by becoming an easier to acquire & manage store of value, we're already seeing signs of that in inflation ridden countries.

Mehdi

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maybe yes maybe no, a advertiser could tell you it better

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Quote from: kappajess on May 15, 2018, 06:27:55 PM

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.

I think not, there are many differences in virtual currency and fiat currencies.
and the obvious difference appears on the stock market. well because of this factor bitcoin will not have a big effect on fiat currency.

coinnumber

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I think Bitcoin is a big threat to Dollar because most of the countries round the globe 🌐 makes use of dollars for exchange. And I believe bitcoin will overcome dollars and pounds in the nearest future despite the fact that they are trying all means not to make bitcoin generally acceptable it will overcome on a very good day.

Hirameki

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Quote from: Meysa_richa on May 15, 2018, 06:47:20 PM

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.

Yes it is as mentioned by OP, the dollar would be replaced by cryptocurrency since it is not controlled or regulated by any country. If you are a country of course you will want to transact to something that is not controlled by anyone specially if you love democracy. It is something that cryptocurrency gives us, the independence of transacting online without the worries of controlling by anyone.

KingScorpio

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Quote from: kappajess on May 15, 2018, 06:27:55 PM

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.

jes it is

i expect that the american and british central bank system might completely collapse as they all are based on gambling,

and they might have to be rebuild completely

if then a new us dollar and a new pound comes out that is being paid to the corporate labourers,
we can then expect a high price rise.

it would be called a monetary reform.

but the banking cartels in those countries are in my oppinion irrepairable broken, and decadent. so will not be easy.

Mujensirio

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bank dont accept btc as a currency

TepungBeras

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I guess that's not true and bitcoin will never be a threat to any currency, because I know between bitcoin and USD, and between those currencies will have their respective roles.

Stormyblue

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It would be a threat a to USD, Pound Sterling and probably all that fiat currencies. Although this isn't the motive or idea behind Bitcoin, Bitcoin has the capability of remitting all the challenges that people face with fiat currencies and offer the revolutionary decentralized system with easy, safe and secure ways of transacting peer to peer, business to business among others with no intermediary. So with all said, the ideals of Bitcoin is to make the financial transactions better than we experience with fiat currencies

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Quote from: kappajess on May 15, 2018, 06:27:55 PM

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 not meant to be a treat to any traditional trading currency, it is created to trade freely throughout the world without the help of a third person or a bank and that is the main advantage we have to take rather than thinking it will replace dollar or pound, the options people will be having when it comes to international trading will be the main difference between fiat and crypto.

hadveach

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not just a threat for USD and pounsterling, but bitcoin is a threat to all fiat currencies.

but they know that to drop the bitcoin value is very easy, because bitcoin is very sensitive to the negative factors that affect it. just by making a bitcoin user panic, then its value will fall, because nobody is covering bitcoin.

bitcoin can attract investors and the world's attention because of the blockchain system with the decentralized concept that canmake volatility quickly.

Sirait

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Quote from: kappajess on May 15, 2018, 06:27:55 PM

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.

maybe I can not be sure exactly when the threat will be visible to the common people, but since the first time Bitcoin existed, Bitcoin has actually become a threat to the Bank, the currency currently in circulation, and the current financial system, we just wait when it looks more real...

crossabdd

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I don't think bitcoin is a threat to USD or POUNDSTERLING. because they have different characteristics. if bitcoin is accepted all over the world, I think it keeps going with real currency (USD, POUNDSTERLING, etc) because basically bitcoin is created to help real currency transactions. and facilitate payments, and transfers away.

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