Topic: Is the presence of Bitcoin able to wipe out cash? - page 3. (Read 878 times)
I'm a big fan of BTC, but I'm afraid I still have a long way to go before I can really replace cash and paper money. There are various reasons for that which is most obvious is the value of BTC is so high and the number of coins was limited to circulate. Although I still hope it will happen in the future someday.
nope not possible. fiat money is accepted world wide and considered legal by government while bitcoin can be legal on selected countries only. i think bitcoin will be accepted and will coexist with fiat money in the future supporting each other.
I think that bitcoin can never replace cash. There are many reasons for this. If you look from the point of view of an individual, then in order to use bitcoin, you need to have a computer, a laptop or a good mobile phone, a constant connection to the Internet, to be able to use the crypto currency to pay for every little thing. I do not think that this is real, because there are a lot of people who do not want to use crypto currency for calculations in this way and will defend their right to use cash.
From the state's point of view, the use of bitcoin as the only form of settlement will mean that this state will directly link the economy of the country with the economy of other countries, and given the greater volatility of bitcoin, it will be virtually impossible.
From the state's point of view, the use of bitcoin as the only form of settlement will mean that this state will directly link the economy of the country with the economy of other countries, and given the greater volatility of bitcoin, it will be virtually impossible.
Bitcoin is still not enough to replace fiat. Why did I say so? Because as we can see, bitcoin only became an ideal currency because it showcased some characteristics of a currency that people were looking for. But if you just look outside, almost all people are using cash to buy, pay, and receive. Even bitcoin users can mot deny the existence of cash because they also have them in their own wallets and pockets.
I think bitcoin will not replace fiat because bitcoin and fiat money is different, bitcoin is digital currency whereas fiat money is money sanctioned by a country and the money can become state symbol, many want bitcoin but not all country and people recognize bitcoin and understand how bitcoin works so that the country uses cash to transact. And this is certainly not going to be able to replace cash.
I think it can,but it takes some time for that.That blockchain technology is slowly adapting by governments and countries around the world. Im sure there will be a cashless society when blockchain technology is fully develop already but it takes time for that to happen.
I think that this can happen only in 50 years. Cash - from them it will be difficult to tear people away.
if each time we are going to use it so much that it will take a time when someone tells us cash we are going to ask ourselves what is that and we are going to consider the natural thing that has put thousands of trees to make those paper bills that dominates us all we will pay with the phone or an implanted chip
I agree with Theb up there.
It will be an option for now.
But the future can change after that. If they find that bitcoin is a good solution to haste every transactions and payment that had been a hassle for years then it will come in handy to make is as the alternate currency of cash.
If possible then it could be the cash-like itself.
It will be an option for now.
But the future can change after that. If they find that bitcoin is a good solution to haste every transactions and payment that had been a hassle for years then it will come in handy to make is as the alternate currency of cash.
If possible then it could be the cash-like itself.
As it is famous today. that Bitcoin is the solution to the weakness of cash. Many people are switching from cash and using Bitcoin.
If this continues to happen then the cash will be destroyed.
what do you think about it?
will Bitcoin be replacing cash?
what if the cash impact is no longer used?
I think no, cash would not be destroyed that easily through bitcoin. Yes, it is true that bitcoin's existence made us question the presence of cash, but still, after many speculations we are still using cash even though we are bitcoin users. Bitcoin might not be a replacement bit I want to consider it as an upgrade item for cash because it makes transactions much easier. If this continues to happen then the cash will be destroyed.
what do you think about it?
will Bitcoin be replacing cash?
what if the cash impact is no longer used?
I don't think that at this moment and as the actual state of bitcoin it could wipe out cash or other currencies because yhe most important thing for s currency is to be stable but thats doesn't happen with bitcoin ad it is a very volatile currency.
Bitcoin can never replace cash. Bitcoin as a mode of payment is really unsuitable due to the high transaction fees, low supply and the long waiting time to get confirmations. Cash is used daily by each and every person on the planet, Bitcoin can't handle that kind of load. I don't want to wait 30 minutes to get my transaction confirmed just to buy a cup of coffee.
Bitcoin can not replace the currency fiat. It can press it into use, but it can not completely replace it in any way. Mandatory signs of statehood are the national centralized money, the banking system through which the country's economy will function and the money will be allocated when planning the development of the country. If the state moves to calculations exclusively in bitcoin, this will mean the actual unification of the economies of all countries using bitcoin. And the volatility of the crypto currency will not allow the country's economy to develop normally, since its planning will be impossible because of the impossibility of fixing the bitcoin price firmly.
Bitcoin will always stay a specualtions object. It will never replace cash money. Its technically to slow to handle all the transaction of a country. Its also too expensive. And last but not least, the hardcap is to low. So its totally not suitable to replace fiat money. Also its too volatile. With all these weaknesses it could not work as a currency. But in the future there will come a cryptocurrency who will handle all this. But these needs some years. Actually the mainstream do not acceppt cryptocurrencies.
If I think so far the existence of bitcoin does not interfere with the existence of cash and will not be as easy as we think it takes further process.
In my opinion, the presence of bitcoin brings luck in developing countries that can be used as an easy transaction tool
In my opinion, the presence of bitcoin brings luck in developing countries that can be used as an easy transaction tool
if to replace the possibility not because the money in each country is governed by the government of the country, while bitcoin no law, yes if the impact of money in a country will be weak against the exchange rate bitcoin, and bitcoin in the future will increasingly growing very rapidly.
I don't think btc can replace cash or even wipe out cash because cash already exist in the beginning. People are always using cash anytime and anywhere. Cash is used widely everywhere especially in payment terms. Presently, Btc is not accepted as payment in daily expenditures, so I guess it's not gonna happen. But we'll never know, maybe in the future, all payment will be through digital currency.
I don't think that's going to be possible. It will be difficult for Bitcoin or other digital cryptocurrencies to replace the widely used and acceptable medium of exchange. Paper bills or coins are easily available and very convenient to use in a daily micro transactions unlike digital money that you still need to be converted and sometime will cost you a lot of time. But of course, Bitcoin has already taken a great dive and contribution to the world of currencies, investments, and economy.
Not a chance, man.. Cash is immortal method of government to control economic market a bit.. BTC might get really strong but it it never replace regular cash.. 
I don't think so that as of now any government would make bitcoins as their legal tender and also that there are many countries where bitcoins hasn't even made legal and some have banned them so bitcoins replacing cash wont be possible anytime soon.Cash is really convenient to use for daily use and whereas bitcoins is not suitable for daily micro transactions imo.
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