Topic: Why Bitcoin will delete all the others monetary systems ? - page 2. (Read 1581 times)
bitcoin wouldn't delete the monetary system in the world, why? we can see that if there are no monetary system in the world, it will ruined all world because there are the monetary system that can't manage money in a world, crisis in many country, inflation, and many others
It seems you are very desperate about bitcoins success. By the way I don’t think it will ever delete any monetary system. I think one day it will replace them or will be used as an alternative as bitcoin will be more famous than other currency.
Mind you in this world, everybody cause traffic to whatever believe they have on something. Bitcoin is good and OK but deleting all the other monetary system, will and can never possible. Before the advent of bitcoin something had been in use and presently bitcoin can not be acquired direct without use something as exchange.
Bitcoin can not replace either local currencies or banks. No decentralized crypto currency can do this. Only centralized crypto currency can replace local national money however not banks. Banks will always exist as long as they are needed by the state. Such thoughts will simply remain, reflections and the matter here is not in the expenditure of electricity. With the help of renewable sources of wind and sun, you can get as many as you want. The fact is that the decentralized crypto currency itself can not replace national money, because it will be a failure for the economy of the state. It can only walk in parallel with the national money of the state.
Bitcoin is truly one of the best monetary system of our time but I don’t think it will be able to remove all other monetary system. Bitcoin is dependent on technology but not everywhere this technology is available yet.
This is a great fictional story by the author. I will state this as fictional because I don’t think so there is a chance of bitcoin to vanish other monetary systems . now researchers compare bit coin with gold industry and others but it cant be fully abolished. We cannot replace our full system with digital currency yes but there is a chance to face a neck to neck fight but as noone can have supreme power over cryptocurrency so no nation will not be willing to do that. We can get a great example fropm the hidden ammount of Gold stack in US.
Even though Bitcoin consumes less energy than many other monetary systems, I don’t think it is capable of removing other monetary system specially the fiat. Still many people trust banking system rather than crypto.
Cryptocurrency like BTC has given people a common monetary system across the globe. But I don’t think any nation would accept this as their main monetary system by leaving all their security concert behind.
I guess bitcoin might be able to remove the use of paper money unless its transaction costs get higher and higher. If we can keep our coins safe from hackers for day to day transaction and if the governments decides to regulate cryptocurrency then I guess paper money might face a challenge. Bitcoin can remove the needs of other monetary system but it’s going to take a lot of time.
I won't believed, bitcoin don't have that potential to delete/replace monetary system in the world. It's far from reality. The monetary system were created long time ago and its not that easy to remove in the community. Most of the entire world population is using this kind of system in their lives.
I recently read [/] "An Order-of-Magnitude Estimate of the Relative Sustainability of the Bitcoin Network" , from Hass McCook .
In this book , he made a detailed study about estimating the durability and cost of the Bitcoin network.
He compares Bitcoin against the gold industry, the banking system and the production of physical currency.
And , Bitcoin is by far the most energy efficient monetary system we have ever made !
Here are some numbers:
Banking system: 23340 million GJ (energy consumed) + 390 million T of CO²
Bitcoin mining: 3.6 million GJ (energy consumed) + 0.6 million T CO².
I don't know yours opinions about that , but I'm really excited , I want that erveryone know that !
I know guys that it's really hard to delete these systems , and maybe not possible , I just think Bitcoin is the best system , and I just want to share my opinion , to touch a lot of people , and sensibilize them , it's important.
Nowadays , a lot of people are still thinking that Bitcoin is a scam , " a bubble" , they don't know the technology , they speak before learning , they don't understand and don't want to understand.
And I want to educate these people, it's my mission , and I sware iI will succeed : my goal is that people understand what is the potential of Bitcoin !
In this book , he made a detailed study about estimating the durability and cost of the Bitcoin network.
He compares Bitcoin against the gold industry, the banking system and the production of physical currency.
And , Bitcoin is by far the most energy efficient monetary system we have ever made !
Here are some numbers:
Banking system: 23340 million GJ (energy consumed) + 390 million T of CO²
Bitcoin mining: 3.6 million GJ (energy consumed) + 0.6 million T CO².
I don't know yours opinions about that , but I'm really excited , I want that erveryone know that !
I know guys that it's really hard to delete these systems , and maybe not possible , I just think Bitcoin is the best system , and I just want to share my opinion , to touch a lot of people , and sensibilize them , it's important.
Nowadays , a lot of people are still thinking that Bitcoin is a scam , " a bubble" , they don't know the technology , they speak before learning , they don't understand and don't want to understand.
And I want to educate these people, it's my mission , and I sware iI will succeed : my goal is that people understand what is the potential of Bitcoin !
Maybe in your dreams it will come true, it's far from reality and will never happen I guess. Bitcoin is a revolution and most revolutions failed. And Bitcoin is not the best but the first and widely used, there are others that are way faster and cheaper to use than BTC.
Bitcoin won't delete any other monetary systems and even if it one day replaces them this will not happen in any of our lifetimes. From an efficiency point of view bitcoin will only become more favourable when compared to cash as there are more advances in tech and as renewable energy sources become more common. Cash will always require some substance such as paper (coming from trees) whereas if electricity is renewable then bitcoin will have very little environmental negatives.
I couldn't agree more! Bitcoin will not delete all the monetary systems because first of all, the bitcoin was not created to replace paper money but rather as one of the alternate money that focuses on tech or digital money. It will not happen due to not all the people can be or familiarize in accessing it and governments or most of the people won't agree to it. It is just that bitcoin is more complimentary than paper money.
who argues like that? I think bitcoin will not be able to erase the existing financial system in the world, although later bitcoin will become a global currency. but that will not change or shift the position of any monetary system
My opinion to this is no, BTC will not delete any monetary system as per author's subject and BTC was not developed to include such thing. BTC is developed as a payment system and as a currency for people to be able to invest and earn some profit. Moreover, BTC will have to do some innovations and improve the current payment system to become more reliable and faster transaction speeds.
As what I've said to the threads similar to this, Bitcoin will not delete the monetary system. First is because it has been with the civilization eversince. Second, what medium are you going to use to buy cryptocurrency if there will be no monetary or fiat system? The thing that Bitcoin will do is improve the current system and make it more convenient and faster to use.
If bitcoin stay side by side with fiat, it will be fine because it will give a large space to compare what cryptocurrency has to offer to the society. But whether it will delete existing payment system entirely is yet to be proved, it will contribute to it rather.
I'm not sure, but i don't think that bitcoin will be able to delete all other monetary systems. Current currency and bitcoin are parallel to their actions.
The objective behind introducing Bitcoin was not because of its potential to replace all the fiat currencies rather to become a substitute payment method for people who want a centralized system. So, if Bitcoin gets mass adopted in the near future. I think it will be according the main objective behind the coin itself.
I'm partially agree and think, Crypto oneday, will delete all other monetary systems , if todays crypto can dictate over current currencies very fast.You will be very happy to know that most of the ig companies accept crypto, Most of the countries make it valid. So i think it's just need time to delete ll other monetary systems.
I recently read [/] "An Order-of-Magnitude Estimate of the Relative Sustainability of the Bitcoin Network" , from Hass McCook .
In this book , he made a detailed study about estimating the durability and cost of the Bitcoin network.
He compares Bitcoin against the gold industry, the banking system and the production of physical currency.
And , Bitcoin is by far the most energy efficient monetary system we have ever made !
Here are some numbers:
Banking system: 23340 million GJ (energy consumed) + 390 million T of CO²
Bitcoin mining: 3.6 million GJ (energy consumed) + 0.6 million T CO².
I don't know yours opinions about that , but I'm really excited , I want that erveryone know that !
I know guys that it's really hard to delete these systems , and maybe not possible , I just think Bitcoin is the best system , and I just want to share my opinion , to touch a lot of people , and sensibilize them , it's important.
Nowadays , a lot of people are still thinking that Bitcoin is a scam , " a bubble" , they don't know the technology , they speak before learning , they don't understand and don't want to understand.
And I want to educate these people, it's my mission , and I sware iI will succeed : my goal is that people understand what is the potential of Bitcoin !
Yes, because the banking system has long been operating, therefore the banking system has consumed a lot of energy, in that data you do not make it in more detail, such as how long it takes until when the energy is consumed, bitcoin is still in a lower count in consuming energy because bitcoin is indeed recently operated differently from banking. We know that the energy for crypto miners also requires high or large energy, so there are still weaknesses and deficiencies in each of them. In this book , he made a detailed study about estimating the durability and cost of the Bitcoin network.
He compares Bitcoin against the gold industry, the banking system and the production of physical currency.
And , Bitcoin is by far the most energy efficient monetary system we have ever made !
Here are some numbers:
Banking system: 23340 million GJ (energy consumed) + 390 million T of CO²
Bitcoin mining: 3.6 million GJ (energy consumed) + 0.6 million T CO².
I don't know yours opinions about that , but I'm really excited , I want that erveryone know that !
I know guys that it's really hard to delete these systems , and maybe not possible , I just think Bitcoin is the best system , and I just want to share my opinion , to touch a lot of people , and sensibilize them , it's important.
Nowadays , a lot of people are still thinking that Bitcoin is a scam , " a bubble" , they don't know the technology , they speak before learning , they don't understand and don't want to understand.
And I want to educate these people, it's my mission , and I sware iI will succeed : my goal is that people understand what is the potential of Bitcoin !
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