Bitcoin is a currency/commodity like gold that is used in some exchanges with USD Dollar values.
USD is the typical fiat currency of the United States
Wouldn't say they are the same, just different roles
Topic: USD vs BTC - page 69. (Read 121169 times)
I dont agree with dollar cant be replaced by any other currency, in the past i thinked escudo would be the currency from Portugal, and now its euro currency, soo dollar is the king of transactions, but how long they will keep being it. Bitcoin has potencial not to fight against dollar or replace it, but to provide an high quality service and give back the power to the people as before.
Perhaps the dollar is the most popular currency in the world. And there is nothing even to argue, because the dollar tied to the economy of many different countries. How would feel the dollar, and there will be those countries. About bitcoin such can not be said clearly.
I dont agree with dollar cant be replaced by any other currency, in the past i thinked escudo would be the currency from Portugal, and now its euro currency, soo dollar is the king of transactions, but how long they will keep being it. Bitcoin has potencial not to fight against dollar or replace it, but to provide an high quality service and give back the power to the people as before.
If you compare price wise, then The Bitcoin is more popular than USD. But if you compare security wise USD is best in this world. Yup the USD is legal currency in all over the world and USD is paper money. But the BTC is just digital currency, and many countries does not aware about this currency. So according to me, USD is first next BTC.
Price does not determine popularity of bitcoin or USD. And about security, USD can be counterfeited, but can you say the same with bitcoin? I do not think you can generate bitcoin out of nowhere and include it in the chain.
All the reasons are right, but now we should see what the comparison with each other, Actually, i don't think that bitcoin has VS dollar, because dollar is real fiat currency, and it always remain forever, and no one have doubt on it, also on one ask that what's the time when dollar has been finished. because we all believe on it and well know about dollar,
And in the opposite, Bitcoin have a trust on it and in the same time everyone know that bitcoin has no grantee that it will live long forever, and also if bitcoin would be got popularity like dollar has than also both currencies have a different ways.
If you compare price wise, then The Bitcoin is more popular than USD. But if you compare security wise USD is best in this world. Yup the USD is legal currency in all over the world and USD is paper money. But the BTC is just digital currency, and many countries does not aware about this currency. So according to me, USD is first next BTC.
Price does not determine popularity of bitcoin or USD. And about security, USD can be counterfeited, but can you say the same with bitcoin? I do not think you can generate bitcoin out of nowhere and include it in the chain.
All the reasons are right, but now we should see what the comparison with each other, Actually, i don't think that bitcoin has VS dollar, because dollar is real fiat currency, and it always remain forever, and no one have doubt on it, also on one ask that what's the time when dollar has been finished. because we all believe on it and well know about dollar,
And in the opposite, Bitcoin have a trust on it and in the same time everyone know that bitcoin has no grantee that it will live long forever, and also if bitcoin would be got popularity like dollar has than also both currencies have a different ways.
Me, I would not bother for the transaction fees because based on my experience when I gamble which is my primary use of bitcoin, the fee is just so cheap and I was able to gamble anytime of the day. Honestly, even if the fees will be a little bit higher I would still gamble.
What I am trying to say is that , not all kind of industry are in bitcoin but my interest are on the industries that adopts with it.
What I am trying to say is that , not all kind of industry are in bitcoin but my interest are on the industries that adopts with it.
Well let's not be gloomy in all this. Right now yes bitcoin would be having a lot of challenges just to even be accepted and known by people much more to be used. And i've tried using btc to transfer money to other countries, the fees i think are higher because aside from changing to fiat, you need to pay for the currency difference. But i'm hoping that one day in our lifetime we would be able to use btc in the same way we use the current dollar
My example was referring to people using Bitcoin as currency for their daily needs, and not to send out money from one country to the other, or to gamble with it. As I said earlier, when buying your daily needs with Bitcoin in your local area, you won't benefit from Bitcoin by using it as currency tool.
That however doesn't mean I am all negative.
And i've tried using btc to transfer money to other countries, the fees i think are higher because aside from changing to fiat, you need to pay for the currency difference.
I do so too, but then very regularly. The receiving party is paying a total fee of 0.5% which I don't consider to be on the high side at all. Last week I have sent someone $100 worth of Bitcoin. 0.5% of that is just $0.50 in fees that this person has to pay in order to cash out. Not bad at all from my point of view. What fees do you have to pay for cashing out your coins?
legendary
Activity: 3010
Merit: 1028
Leading Crypto Sports Betting & Casino Platform
I think it is very difficult for bitcoin to be popular like the dollar. Because the dollar is already very well known and used by the people who use that currency. Bitcoin is still new and needs to be a long journey to be able as popular as the dollar. Bitcoin might be in order to be as popular as mass adoption of dollars but it took so many people who know and use.
It probably takes a lot of time for something to spread in all over the world, specially for something that is not in physical form like bitcoin, dollar has a physical shape that has spread in the world but it still took it a really long time so for bitcoin it would take many years from now to reach that point.
No way dollar and others currencies will always be the most used currency, and bitcoin and crypto world wont replace those, crypto world can make a bit pressio to the current system of high fees readjust to the new way.
The low fee structure of Bitcoin (which is already changing) is the selling point that we all want to advertise with, but as we progress through the years, pools will more and more depend on the fee income.It basically means that the average fee will only increase in the coming years. Even to a certain level where we can't refer to Bitcoin's low fee structure anymore. We're underway already.
I find that the fees are too high already in case you are just using Bitcoin as a currency tool to complete purchases. If I compare Bitcoin as currency to fiat when purchasing my daily needs, then I prefer to keep using fiat as it's more convenient (in this use case), all transactions are free, instant, etc.
And yes, as you also mentioned, the fees are likely to increase further as we progress through the years. So in that regard, I am sure people will prefer to keep using fiat even more than already is the case. Especially when you consider that the infrastructure for fiat payments is getting better and better. It will be a real challenge for Bitcoin to get its share of all this.
Well let's not be gloomy in all this. Right now yes bitcoin would be having a lot of challenges just to even be accepted and known by people much more to be used. And i've tried using btc to transfer money to other countries, the fees i think are higher because aside from changing to fiat, you need to pay for the currency difference. But i'm hoping that one day in our lifetime we would be able to use btc in the same way we use the current dollar
No way dollar and others currencies will always be the most used currency, and bitcoin and crypto world wont replace those, crypto world can make a bit pressio to the current system of high fees readjust to the new way.
The low fee structure of Bitcoin (which is already changing) is the selling point that we all want to advertise with, but as we progress through the years, pools will more and more depend on the fee income.It basically means that the average fee will only increase in the coming years. Even to a certain level where we can't refer to Bitcoin's low fee structure anymore. We're underway already.
I find that the fees are too high already in case you are just using Bitcoin as a currency tool to complete purchases. If I compare Bitcoin as currency to fiat when purchasing my daily needs, then I prefer to keep using fiat as it's more convenient (in this use case), all transactions are free, instant, etc.
And yes, as you also mentioned, the fees are likely to increase further as we progress through the years. So in that regard, I am sure people will prefer to keep using fiat even more than already is the case. Especially when you consider that the infrastructure for fiat payments is getting better and better. It will be a real challenge for Bitcoin to get its share of all this.
What I am trying to say is that , not all kind of industry are in bitcoin but my interest are on the industries that adopts with it.
No way dollar and others currencies will always be the most used currency, and bitcoin and crypto world wont replace those, crypto world can make a bit pressio to the current system of high fees readjust to the new way.
The low fee structure of Bitcoin (which is already changing) is the selling point that we all want to advertise with, but as we progress through the years, pools will more and more depend on the fee income.It basically means that the average fee will only increase in the coming years. Even to a certain level where we can't refer to Bitcoin's low fee structure anymore. We're underway already.
I find that the fees are too high already in case you are just using Bitcoin as a currency tool to complete purchases. If I compare Bitcoin as currency to fiat when purchasing my daily needs, then I prefer to keep using fiat as it's more convenient (in this use case), all transactions are free, instant, etc.
And yes, as you also mentioned, the fees are likely to increase further as we progress through the years. So in that regard, I am sure people will prefer to keep using fiat even more than already is the case. Especially when you consider that the infrastructure for fiat payments is getting better and better. It will be a real challenge for Bitcoin to get its share of all this.
I think it is very difficult for bitcoin to be popular like the dollar. Because the dollar is already very well known and used by the people who use that currency. Bitcoin is still new and needs to be a long journey to be able as popular as the dollar. Bitcoin might be in order to be as popular as mass adoption of dollars but it took so many people who know and use.
It probably takes a lot of time for something to spread in all over the world, specially for something that is not in physical form like bitcoin, dollar has a physical shape that has spread in the world but it still took it a really long time so for bitcoin it would take many years from now to reach that point.
I think it is very difficult for bitcoin to be popular like the dollar. Because the dollar is already very well known and used by the people who use that currency. Bitcoin is still new and needs to be a long journey to be able as popular as the dollar. Bitcoin might be in order to be as popular as mass adoption of dollars but it took so many people who know and use.
If you compare price wise, then The Bitcoin is more popular than USD. But if you compare security wise USD is best in this world. Yup the USD is legal currency in all over the world and USD is paper money. But the BTC is just digital currency, and many countries does not aware about this currency. So according to me, USD is first next BTC.
Price does not determine popularity of bitcoin or USD. And about security, USD can be counterfeited, but can you say the same with bitcoin? I do not think you can generate bitcoin out of nowhere and include it in the chain.
No way dollar and others currencies will always be the most used currency, and bitcoin and crypto world wont replace those, crypto world can make a bit pressio to the current system of high fees readjust to the new way.
The low fee structure of Bitcoin (which is already changing) is the selling point that we all want to advertise with, but as we progress through the years, pools will more and more depend on the fee income.It basically means that the average fee will only increase in the coming years. Even to a certain level where we can't refer to Bitcoin's low fee structure anymore. We're underway already.
Also, if Bitcoin is set to grow massively in the coming years, and that's what we are all looking for, the miners fees will grow proportionately as well when converted to dollars. Web wallets that don't charge these fees may help a lot in this regard, but they can start charging the fees any moment. Those that won't will naturally get an edge over those that will though, so there is still a hope.
That fee wont still hurt a lot. They need it for there will be a lot of transaction and will be harder to monitor every single one of it. We can have a choice to pay smaller but slower or faster but expensive.
No way dollar and others currencies will always be the most used currency, and bitcoin and crypto world wont replace those, crypto world can make a bit pressio to the current system of high fees readjust to the new way.
The low fee structure of Bitcoin (which is already changing) is the selling point that we all want to advertise with, but as we progress through the years, pools will more and more depend on the fee income.It basically means that the average fee will only increase in the coming years. Even to a certain level where we can't refer to Bitcoin's low fee structure anymore. We're underway already.
Also, if Bitcoin is set to grow massively in the coming years, and that's what we are all looking for, the miners fees will grow proportionately as well when converted to dollars. Web wallets that don't charge these fees may help a lot in this regard, but they can start charging the fees any moment. Those that won't will naturally get an edge over those that will though, so there is still a hope.
No way dollar and others currencies will always be the most used currency, and bitcoin and crypto world wont replace those, crypto world can make a bit pressio to the current system of high fees readjust to the new way.
The low fee structure of Bitcoin (which is already changing) is the selling point that we all want to advertise with, but as we progress through the years, pools will more and more depend on the fee income.It basically means that the average fee will only increase in the coming years. Even to a certain level where we can't refer to Bitcoin's low fee structure anymore. We're underway already.
That is actually right, the more we will progress and the more bitcoins are mined then we will see a gradual increase in transaction fees which will not let us say this thing again that bitcoin has low fees, though it might have lesser fees than other currencies but it wont probably be as low as it is now.
No way dollar and others currencies will always be the most used currency, and bitcoin and crypto world wont replace those, crypto world can make a bit pressio to the current system of high fees readjust to the new way.
The low fee structure of Bitcoin (which is already changing) is the selling point that we all want to advertise with, but as we progress through the years, pools will more and more depend on the fee income.It basically means that the average fee will only increase in the coming years. Even to a certain level where we can't refer to Bitcoin's low fee structure anymore. We're underway already.
No, bitcoin is no more popular than the US Dollar. We all already know that bitcoin is still popular and many people do not know bitcoin. In contrast to the US Dollar which greatly affect the price of other currencies. US Dollar is very well known to many people even around the world. US dollar is still more popular than the bitcoin.
yes that is a fact that bitcoin is really not so much popular as US Dollar is, but i think that both has their own value and importance and the popularity of bitocin is really increasing regularly as soon as more and more people are entering in the world of bitcoin. Yeah for the moment, and probably for the next few years, bitcoin will be gaining popularity and hopefully it will be accepted in more businesses but that won't be enough to even challenge the dollar. As most of you said, it's pretty much the dollar that every currency is based on. I don't really think btc and usd would clash, Btc most likely would be just an alternative option same as how credit cards are being used
No, bitcoin is no more popular than the US Dollar. We all already know that bitcoin is still popular and many people do not know bitcoin. In contrast to the US Dollar which greatly affect the price of other currencies. US Dollar is very well known to many people even around the world. US dollar is still more popular than the bitcoin.
yes that is a fact that bitcoin is really not so much popular as US Dollar is, but i think that both has their own value and importance and the popularity of bitocin is really increasing regularly as soon as more and more people are entering in the world of bitcoin. 
is bitcoin more popular than US Dollar ?
Unfortunately NO, USD is far more popular than bitcoin. Just ask some of your friends about bitcoin and USD, All of them knows USD but only a few or even no one knows bitcoin. It will be nice if bitcoin gets as popular as USD in the future tho.
Jump to: