Is the presence of Bitcoin able to wipe out cash? - page 6.

k@suy

sr. member

Activity: 882

Merit: 269

Quote from: jakoylantern on September 27, 2017, 08:05:27 AM

For me it can't bitcoin can't wipe out the cash. The cash or ordinary money is can't be replace because all people in this earth are using cash and not every buddy knows the bitcoin.

Bitcoin can't replace cash for now and even several years from no as more to be done to fully integrated these cryptocurrency in our current system and technology. It is possible that fiat or cash can become an alternative currency in the future when bitcoin become mainstream.

Nasty23

full member

Activity: 736

Merit: 100

★Bitvest.io★ Play Plinko or Invest!

Quote from: helars2008 on September 27, 2017, 08:33:03 AM

As of now it would be impossible for bitcoin to replace fiat or cash. Only few of the worlds population uses cryptocurrency nowadays and it would be very hard to live in a world wherein only a few people uses a currency. Of course it will be a different story if we will be having almost all of the worlds population would use cryptocurrency. That is why each of us must promote cryptocurrency to everyone.

Yes for now it is impossible because there are many problems in bitcoin that are needed to solve in order to use it easily than cash that can encourage more people to use bitcoin. Bitcoin opens the fast transaction wherever you are but the transaction fees also continues to become high.

helars2008

full member

Activity: 210

Merit: 100

As of now it would be impossible for bitcoin to replace fiat or cash. Only few of the worlds population uses cryptocurrency nowadays and it would be very hard to live in a world wherein only a few people uses a currency. Of course it will be a different story if we will be having almost all of the worlds population would use cryptocurrency. That is why each of us must promote cryptocurrency to everyone.

WildJippy

member

Activity: 67

Merit: 10

The ease of use of cash vs bitcoin will stop that scenario from happening, unless that radically changes. I do believe it can start playing a big role in emerging economies, which in turn forces the more wealthy countries to comply in one way or another.

rodel caling

full member

Activity: 952

Merit: 104

the world are circle as of now but maybe in the near future your prediction dream come true, bitcoin replace as currency in the whole nation its not possible and cash money wipe out, thats one of the reason of bankers hate bitcoin because if the cash wipe out the banks are close, riased the bitcoin bank.

liuqi

sr. member

Activity: 1092

Merit: 257

LuckyB.it is Back!

Quote from: micle222 on September 27, 2017, 07:21:55 AM

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?

It takes too much time to see the digital currencies alone instead of cash to utilize in daily usage. If bitcoin make legal in the countries then bitcoin is widely been and people also reduce to use fiat money if they completely understand the growth and potential of bitcoin. When the cash is not been used then bitcoin and other altcoins will mark as their national currency for each of the country.

allthingsluxury

legendary

Activity: 1540

Merit: 1029

I don't believe that BTC will ever do this. Cash could ultimately destroy itself one day however, as all fiat currencies throughout history have collapsed.

Charot12345

full member

Activity: 257

Merit: 102

It is true that many people are switching from cash to bitcoin but it will not make the cash wiped out. Many people need cash for everyday transaction so it is needed by everyone. Cash can be used by anyone unlike bitcoin that can be used only by the people who have an internet connection and knows what it is. Cash is used for a very long time so it is not easy to wipe it out.

jakoylantern

full member

Activity: 560

Merit: 107

For me it can't bitcoin can't wipe out the cash. The cash or ordinary money is can't be replace because all people in this earth are using cash and not every buddy knows the bitcoin.

ramsdaj28

sr. member

Activity: 420

Merit: 256

اللعنة

Quote from: micle222 on September 27, 2017, 07:21:55 AM

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?

A big NO. I don't see bitcoin wiping out cash. Instead, bitcoin will be used together with cash in the future (and even today). The main function of bitcoin for people using it is like that of a credit card or bank account. People can keep their savings in their bitcoin wallet and could use them in the future when needed. There's no need to go to banks to deposit or withdraw since people can already deposit their money through remittance centers going to their bitcoin wallet.

Thymoty

full member

Activity: 372

Merit: 100

CPLAY Network

I think that's impossible because for me Bitcoin is like gold, but if Bitcoin has gained recognition and legality from the world, the possibility of bitcoin could shift the popularity of gold, and maybe conventional money will only be made in exchange rates only ..

Lancusters

sr. member

Activity: 630

Merit: 263

Quote from: lexamagic on September 27, 2017, 07:30:55 AM

I do not think that bitcoin will replace ordinary money. The price for one coin is too high and it is used mainly as an investment, and not as a currency for small purchases.

Users themselves are to blame. Bitcoin was conceived as a currency. I do not recognize the investment of money in bitcoin investments. This is a speculation. Investments are aimed at development of production and profit due to the development of the real sector of the economy. Speculators do so I transfer the money from one pocket to another. No good for the economy they bring.

paolo099

full member

Activity: 224

Merit: 101

this will never happen, money are way too important in terms of politics, economy and lifestyle.. crypto might become a side currencies but there is no way crypto will replace money in the next century

micle222

sr. member

Activity: 784

Merit: 255

Quote from: lexamagic on September 27, 2017, 07:30:55 AM

I do not think that bitcoin will replace ordinary money. The price for one coin is too high and it is used mainly as an investment, and not as a currency for small purchases.

Yes I think that Bitcoin will not replace cash. Because I know that the government will certainly not allow Bitcoin to dominate the state economy.
But we will face a global market, where everyone is required to compete in trade. I think there is a small chance that Bitcoin will replace the cash even though not everyone is using it.
Thank you for answering.
I am satisfied with your answer.

lexamagic

full member

Activity: 138

Merit: 100

I do not think that bitcoin will replace ordinary money. The price for one coin is too high and it is used mainly as an investment, and not as a currency for small purchases.

Theb

hero member

Activity: 1680

Merit: 655

It is really not that hard to look at the future of Bitcoin, and right now I am seeing that Bitcoin won't replace anything yet. Bitcoin is suited to become an option not a replacement because we are talking about fiat currency where it is an official currency of a certain country. That a decentralized currency where the government does not have any control of won't be even considered as a replacement, it is for our own safety as a currency that is volatile will affect their economy greatly.

micle222

sr. member

Activity: 784

Merit: 255

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?

Topic: Is the presence of Bitcoin able to wipe out cash? - page 6. (Read 853 times)