It will never happen. Bit doesn't have the characteristics to become a fiat money. No one owns bitcoin. It will be possible only if a country or a regulatory authority like world bank or IMF claims its ownership. The chances are very very very low.
So I see that bitcoin will remain an alternate currency and people will continue using it like that way only, even after 5 years.
Topic: is bitcoin can be a fiat money? - page 3. (Read 2123 times)
i think bitcoin has a potential to become a fiat money. because a lot of news regarding bitcoin is government will support the bitcoin. and as per description of fiat money. once it legalized by government, theres a possibility to be a fiat money. i cant wait to see using bitcoin coins to buy some goods in stores and market. and also a physical bank of bitcoins that we can withdraw and deposit. 
heres the link of btc news according to coindesk: http://www.coindesk.com/presidential-candidate-hillary-clinton-pledges-support-blockchain-tech/
heres the link of btc news according to coindesk: http://www.coindesk.com/presidential-candidate-hillary-clinton-pledges-support-blockchain-tech/
I`m not that optimistic.
Bitcoin is strong because it`s an alternative to fiat money.If bitcoins becomes the same as fiat money,
what`s the point?It will lose all the advantages that make this cryptocurrency valuable .
i think bitcoin has a potential to become a fiat money. because a lot of news regarding bitcoin is government will support the bitcoin. and as per description of fiat money. once it legalized by government, theres a possibility to be a fiat money. i cant wait to see using bitcoin coins to buy some goods in stores and market. and also a physical bank of bitcoins that we can withdraw and deposit.
heres the link of btc news according to coindesk: http://www.coindesk.com/presidential-candidate-hillary-clinton-pledges-support-blockchain-tech/
heres the link of btc news according to coindesk: http://www.coindesk.com/presidential-candidate-hillary-clinton-pledges-support-blockchain-tech/
I`m not that optimistic.
Bitcoin is strong because it`s an alternative to fiat money.If bitcoins becomes the same as fiat money,
what`s the point?It will lose all the advantages that make this cryptocurrency valuable .
I get your point. The anonymity feature of bitcoin will be gone. But think of this, imagine if btc become fiat money. You can use it as physical money that can buy a commodity in stores unlike bitcoin now. You can buy commodity in online only. What do you think will happen if the blockchain down or being hacked? Do you think bitcoin will have a value? Being a fiat money is a stable.
i think bitcoin has a potential to become a fiat money. because a lot of news regarding bitcoin is government will support the bitcoin. and as per description of fiat money. once it legalized by government, theres a possibility to be a fiat money. i cant wait to see using bitcoin coins to buy some goods in stores and market. and also a physical bank of bitcoins that we can withdraw and deposit.
heres the link of btc news according to coindesk: http://www.coindesk.com/presidential-candidate-hillary-clinton-pledges-support-blockchain-tech/
heres the link of btc news according to coindesk: http://www.coindesk.com/presidential-candidate-hillary-clinton-pledges-support-blockchain-tech/
I`m not that optimistic.
Bitcoin is strong because it`s an alternative to fiat money.If bitcoins becomes the same as fiat money,
what`s the point?It will lose all the advantages that make this cryptocurrency valuable .
how that would be even possible? in my opinion it is definitely impossible and bitcoin will never be fiat because those two are different things that just cannot be the same
It's totally a different thing, it just like human and animal. Can human be an animal?
But, if what you mean is (can Bitcoin be use just like fiat money?) Then the answer is yes it is, because it is definitely could be done.
But, if what you mean is (can Bitcoin be use just like fiat money?) Then the answer is yes it is, because it is definitely could be done.
No matter how much Bitcoin is legalized by a government it cannot by definition be a fiat currency. Same thing with gold. A government may force it's citizens to transact in gold (valued by weight) and this does not make gold a fiat currency. It gets complicated if the government starts issuing gold coins denominated in values that do not correspond to the value of the weight in gold, but that is a completely different story.
Fiat means an official order given by someone who has power : an order that must be followed (Merriam-Webster). So in my opinion, if bitcoin will be legalized by the government and enforce the use of bitcoin to people, it might happen. However, as of today, since bitcoin is not that really known by most people, I really think that it would take so much time before it will be close as possible. Yes, maybe there are some countries who are starting to support bitcoin/accept the use of it as "money", but it's just support and acceptance, there is still no enforcement to use it.
i think bitcoin has a potential to become a fiat money. because a lot of news regarding bitcoin is government will support the bitcoin. and as per description of fiat money. once it legalized by government, theres a possibility to be a fiat money. i cant wait to see using bitcoin coins to buy some goods in stores and market. and also a physical bank of bitcoins that we can withdraw and deposit.
heres the link of btc news according to coindesk: http://www.coindesk.com/presidential-candidate-hillary-clinton-pledges-support-blockchain-tech/
heres the link of btc news according to coindesk: http://www.coindesk.com/presidential-candidate-hillary-clinton-pledges-support-blockchain-tech/
if by becoming fiat money you mean, becoming popular and more used day to day then I agree. but your reasoning is not quite right because there has been no support from the government part towards bitcoin.
although I haven't heard the complete Hilary Clinton's speech about this but from what I have heard so far an based on my experience they are always supporting blockchain technology as the article title is also saying this. which has nothing to do with bitcoin but only with its technology.
I think it is impossible. Because bitcoin dont have physical appearrance not like fiat it has physical appearance,
If bitcoin will fiat all of the users need to buy physical wallet so that they can use it so it is hassle to many people not like in fiat if you dont have or you have wallet you can use your money.
If bitcoin will fiat all of the users need to buy physical wallet so that they can use it so it is hassle to many people not like in fiat if you dont have or you have wallet you can use your money.
I hope you are aware of that 95% of global fiat money is held in digital form!!!
Fiat money is centrally issued, with an infinite number in supply as banks can create more of it by printing or giving out credits out of thin air.This are the most important aspects you have to know.If digital or not does not play any role.
For instance when the US FED created FEdcoin it is still fiat money!!
No, bitcoin will never be a fiat money, it will be a disaster if bitcoin become fiat, imagine if all user hold the bitcoin, then it will be inflation every where, making bitcoin into fiat money is going to destroy the country economy
Hmzz, I do not think that it would be bad. But it is possible that each country is definitely their currencies decline, but it will not make excessive inflation. And I think the Bank will use the bitcoin to avoid it and make the system more robust and powerful
No, bitcoin will never be a fiat money, it will be a disaster if bitcoin become fiat, imagine if all user hold the bitcoin, then it will be inflation every where, making bitcoin into fiat money is going to destroy the country economy
someday it might but i think we still got a long way to go before that happends.
i think bitcoin has a potential to become a fiat money. because a lot of news regarding bitcoin is government will support the bitcoin. and as per description of fiat money. once it legalized by government, theres a possibility to be a fiat money. i cant wait to see using bitcoin coins to buy some goods in stores and market. and also a physical bank of bitcoins that we can withdraw and deposit.
heres the link of btc news according to coindesk: http://www.coindesk.com/presidential-candidate-hillary-clinton-pledges-support-blockchain-tech/
heres the link of btc news according to coindesk: http://www.coindesk.com/presidential-candidate-hillary-clinton-pledges-support-blockchain-tech/
Bitcoin can not and never will be fiat money!
I recommend to read the definition of what fiat money actually is!
Bitcoin is the complete opposite of all that.
Just because some countries might support Bitcoin or making it legal tender doesn't mean it's fiat money or controlled by government.
Lot's of things you still have to learn my friend.
Bitcoin is currently crypto currency , to make this as fiat government first legalize it completely and also fiat currency value rise depends on Economy of that country . but in future if popularity increase i may happen that bitcoin becomes fiat
I think it is impossible. Because bitcoin dont have physical appearrance not like fiat it has physical appearance,
If bitcoin will fiat all of the users need to buy physical wallet so that they can use it so it is hassle to many people not like in fiat if you dont have or you have wallet you can use your money.
Yes, Bitcoin cannot become a fiat currency. But there's an interesting aspect of BTC that makes it different is that it is a currency that a government has declared to be legal tender, but is not backed by a physical commodity. If bitcoin will fiat all of the users need to buy physical wallet so that they can use it so it is hassle to many people not like in fiat if you dont have or you have wallet you can use your money.
I think it is impossible. Because bitcoin dont have physical appearrance not like fiat it has physical appearance,
If bitcoin will fiat all of the users need to buy physical wallet so that they can use it so it is hassle to many people not like in fiat if you dont have or you have wallet you can use your money.
If bitcoin will fiat all of the users need to buy physical wallet so that they can use it so it is hassle to many people not like in fiat if you dont have or you have wallet you can use your money.
i think bitcoin has a potential to become a fiat money. because a lot of news regarding bitcoin is government will support the bitcoin. and as per description of fiat money. once it legalized by government, theres a possibility to be a fiat money. i cant wait to see using bitcoin coins to buy some goods in stores and market. and also a physical bank of bitcoins that we can withdraw and deposit.
Oh i think theres a good and bad effect this. if bitcoin will be fiat. The good effect of this, many people will know more about bitcoin, second the bitcoin price will rise because for sure the demand of this Bitcoin will rise. So i think the price of it will rise too. The bad effect of this in many bitcoin traders the price of bitcoin will be stable and not too profitable for sure.
I think you should not mix bitcoin with fiat as bitcoin is innovative in the digital world, physical bank of bitcoin means bitcoin ATM which are in some countries, bitcoin being used by government is to early now.
sorry in my opinion bitcoin can't be a fiat money because bitcoin and fiat These are two different things indeed both are the currency but i think if bitcoin legal and government admit it but there will be no physical form for bitcoin also people could not bring bitcoin on their pocket such as fiat however Bitcoin has very potential to replace fiat someday
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