Topic: Is bitcoin a threat to USD and Pound Sterling? - page 9. (Read 1403 times)
Well if bitcoin will be in mass adoption and merchants/people around the world will use it and will be a sort of currency or international legal tender then I guess it's a threat. But I'm sure Government will have it's way how to manipulate or world in line with the current technology in order not to affect the economy. They know's the game.
I think it's not a threat to USD. They all have space which in the future one can help in the exchange of the other
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.
To me it is not a threat, but there might be some instances that the cryptocurrency and the currency of pound and dollar may overlap amd cause some confusion if not regulated correctly. To me, I would like to think that the bitcoin or the cryptocurrency market would be a supplement not a hindrance to the development and to the help of the market. What should be done, is for the goventments to have a regulation to have specific limitations to both of them
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.
not a threat i guess, bitcoin and crypto is supporting the fiat currency for now.
peoples buy bitcoin with fiat. and many exchange of cryptocurrency that support fiat pairs too.
but we dont know if it will still support for fiat or not in the future.
It's not a threat to USD. BTC is great, more safe choice for the humanity. And solution for global issues as poverty, for example.
I don't know that bitcoin in its current form is a threat to either.
Given enough time and bip's they might make it viable, but that depends a lot on global adoption which will be the biggest hurdle I think.
I currently like it as a complimentary system that bridges the globe for sales and transfer of funds eliminating a 3rd party.
Given enough time and bip's they might make it viable, but that depends a lot on global adoption which will be the biggest hurdle I think.
I currently like it as a complimentary system that bridges the globe for sales and transfer of funds eliminating a 3rd party.
In my opinion, at some point people will prefer virtual currencies, since it will be easier and safer to own them than banknotes, especially in remote regions, and also because these currencies may become more stable over time.
The Crypto-currency, if it remains decentralized, will never be more stable than now. In addition, with an increase in its price, its volatility will only increase, as with increasing in price, the amplitude of the price fluctuations of the crypto currency will also grow. Moreover, the crypto currency can not be more stable than the dollar, euro or pound sterling.Also forced to question your claim that virtual currency is easier and safer to own than banknotes. What is easier to do: get a bill from the wallet and pay for some goods, or make a transaction in bitcoin for a purchase? How many transactions will take you and what commission fee will you pay for this transaction? At the same time, you pay the bill very quickly and do not need to pay any commission fee for it. In addition, you need to first the seller dropped your address of the bitcoin purse on your mobile phone or laptop, because it is very difficult to enter it manually. Is this a long and paid procedure much easier and safer? I doubt it.
Bitcoin does not threaten the dollar, the euro or the pound sterling. These coins will continue to exist, but bitcoin will push them slightly. I think that every type of currency will take its own niche in the financial world and all of them will walk and be used in parallel with each other. In any case, it will be in the near future.
In my opinion, at some point people will prefer virtual currencies, since it will be easier and safer to own them than banknotes, especially in remote regions, and also because these currencies may become more stable over time.
Why does everything have to be about competition? Why can't bitcoin, USD, Pounds and other currencies available in international trade can co-exist in making life easy for everyone. You want to send money out of the country to pay for goods no matter the amount that is to be transferred without having to fill unnecessary paper works and some decent amount as fees, use the bitcoin, you want to buy something in the grocery store next door, there is no point of having to use bitcoin where you have to log in, transfer, wait for confirmation or argue about the exchange rate, just use your dollar or Pounds without any issue. From the above scenario while they are currency of transactions, they complement each other rather than competing with each other.
Bitcoin may be a thread to paper money not as a currency. If usd and other currencies will change their shape they can be succesful too. But Bitcoin will be huge because of limited cap.
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.
Very true and I think if we look at the actions of governments and bans in some countries, this is proof that Bitcoin is a threat to fiat currencies. We can also look at the market cap and consider that a lot of real money is going into Bitcoin. The real question though is how much of it is invested vs actually used on a daily basis for trading goods and services? I think this is Bitcoin's biggest weakness as the fees and are high and transaction times very slow. But I would agree and consider Bitcoin is a store of value and sort of a replacement wire transfer service so it is really more of a threat to SWIFT. But the thing is that crypto is liquid, it is easy to exchange some Bitcoin for other coins that are more easily used on a daily basis and I think that's why Bitcoin is considered a huge threat anytime a normal person buys or receives Bitcoin. 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.
Bitcoin is basically not a threat to fiat currencies especially base currencies like USD and Pound sterling. Its just a means of payment and just becoming an asset overtime. You can access your account and not through a third party. Its one of the advantages of cryptocurrencies.
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.
Of course that they did this on purpose, as mostly oil trade is done in USD. You pointed it well. As we can see mostly people who are accepting donations are moving towards cryptocurrency and by looking at the merchants overall. So in the future cryptocurrency has high potential of taking its place as internet money first. It will be hard to speculate when FIAT will be totally replaced as this could take like 10years or even 100years.
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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.
No currency will last forever, that include bitcoins also, but I’m sure the dollar, euro, pound, and most of the other fiat currencies will fall someday. That can be 5 months from now to 20 years from now.
Most of them are full of dept; build on a system where they need to keep printing new currency each day to pay yesterday’s dept. In the end the countries will stop accepting others countries currencies, and then a digital currency like bitcoins will be the new world currency.
i think just to usd
As far as currency is concerned, weather crypto or paper money, USD is still the major legal tender used both online and offline so i dont think bitcoin is a threat to it.
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.
The US dollar (American Dollar) is used internationally all over the world by many people, I know when I go to purchase something off someone online it is 99% of the time based around the US Dollar. I believe it would take a lot for something as new as bitcoin to even come close to take over the USD. Reason being that bitcoins supply is limited it doesn’t account for population growth and such unlike the USD or GPD.
it's hard to predict that this is a threat, in my opinion this is not a threat, but its value is still weak, because uncontrolled, I hope everything is fine, because many crypto users wear it
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