replace fiat: no
replace 'traditional' bank credit: yes
*fiat notes might be backed in blockchain values, now the geeks will just use the blockchain directly, but the Luddites may opt for someone else to hold the coins and they in turn hold paper (aka pay the bearer on demand); but even then that would be a small subset of the greater population. Most will go down with the fiat ship, but at least some banks (like in Panama or the Bermuda) will hedge and offer 'crypto' savings accounts.
Topic: John McAfee: Cryptocurrency is coming - page 3. (Read 3063 times)
For many of us (me included) it already has replaced fiat.
Not really. Most of the people still measure their profits/losses/holdings in fiat money.
How does that contradict what I wrote?
There's a word I use for people that measure profits/losses/holdings/net worth in fiat: "poor".
How can something which is being created ad infinitum at zero cost be a measure of wealth?
How can something with no definition be a measure of anything at all?
For many of us (me included) it already has replaced fiat.
Not really. Most of the people still measure their profits/losses/holdings in fiat money.
Whilst I do believe that Bitcoin (and blockchain technology) is going to change the world (in many ways) I don't see that it is going to "replace" fiat any time soon (as that's almost like asking a military to give up its guns).
In the long term it may be that property is the only way governments will be able to get revenue (so I also wouldn't be too quick to sell all your BTC to buy a bunch of properties assuming you have that many).
In the long term it may be that property is the only way governments will be able to get revenue (so I also wouldn't be too quick to sell all your BTC to buy a bunch of properties assuming you have that many).
Could u further explain the *in many ways* part CIYAM? Ur thinking is very interesting.
// You gotta "crawl before you talk" and CIYAM tried to "babble before crawling"
~CfA~
Whilst I do believe that Bitcoin (and blockchain technology) is going to change the world (in many ways) I don't see that it is going to "replace" fiat any time soon (as that's almost like asking a military to give up its guns).
In the long term it may be that property is the only way governments will be able to get revenue (so I also wouldn't be too quick to sell all your BTC to buy a bunch of properties assuming you have that many).
In the long term it may be that property is the only way governments will be able to get revenue (so I also wouldn't be too quick to sell all your BTC to buy a bunch of properties assuming you have that many).
The military gave up their single shot barrel loaded muskets.
For many of us (me included) it already has replaced fiat. The number is growing and the conclusion is foregone. However due to the nature of scientific revolution (to quote Kuhn) this kind of improvement, no matter how obviously beneficial to all parties, takes at minimum one generation before it is "mainstream".
Whilst I do believe that Bitcoin (and blockchain technology) is going to change the world (in many ways) I don't see that it is going to "replace" fiat any time soon (as that's almost like asking a military to give up its guns).
In the long term it may be that property is the only way governments will be able to get revenue (so I also wouldn't be too quick to sell all your BTC to buy a bunch of properties assuming you have that many).
In the long term it may be that property is the only way governments will be able to get revenue (so I also wouldn't be too quick to sell all your BTC to buy a bunch of properties assuming you have that many).
Banks and governments are already exploring the technology and it could replace fiat money, but I don't believe that this would be done by Bitcoin or others.
Whilst I do believe that Bitcoin (and blockchain technology) is going to change the world (in many ways) I don't see that it is going to "replace" fiat any time soon (as that's almost like asking a military to give up its guns).
In the long term it may be that property is the only way governments will be able to get revenue (so I also wouldn't be too quick to sell all your BTC to buy a bunch of properties assuming you have that many).
In the long term it may be that property is the only way governments will be able to get revenue (so I also wouldn't be too quick to sell all your BTC to buy a bunch of properties assuming you have that many).
MicroGuy posted a comment with a link to a video were John McAfee made some interesting (or not?) statements.
What do you guys think on what he said?
EDIT: I allowed myself to invite Mr. McAfee to this discussion.
What do you guys think on what he said?
EDIT: I allowed myself to invite Mr. McAfee to this discussion.
Jump to: