Bitcoin is not going to delete anything. For the foreseeable future both monetary systems are going to exist side-by-side until there is a gradual transition towards blockchain based currencies. This doesn't necessarily mean it will be Bitcoin specifically that wins the future of currencies, but something based on blockchain technology.
In fact, the first is rarely the one that dominates the market, so it's likely that something will come along to overthrow it unless BTC forks several times to keep up with the pace of change.
Topic: Why Bitcoin will delete all the others monetary systems ? - page 4. (Read 1578 times)
Do you mean make other fiat systems obsolete? No, it won't happen. Yes, I agree that bitcoin is much efficient as compare to banking system which consumes a lot of electricity, but I don't think that they will be eliminated in our system. There's too much as risk eliminating the banking system so I doubt that governments around the world would agree to that.
Bitcoin is not going to delete anything. For the foreseeable future both monetary systems are going to exist side-by-side until there is a gradual transition towards blockchain based currencies. This doesn't necessarily mean it will be Bitcoin specifically that wins the future of currencies, but something based on blockchain technology.
In fact, the first is rarely the one that dominates the market, so it's likely that something will come along to overthrow it unless BTC forks several times to keep up with the pace of change.
In fact, the first is rarely the one that dominates the market, so it's likely that something will come along to overthrow it unless BTC forks several times to keep up with the pace of change.
I don't think bitcoin will remove ALL the money systems in the world, but it may well become the biggest system in the world in ten to fifteen years.
That just is a opinion of author. Bitcoin will delete all the other monetary systems, it work and develop itself. The people scare about that Bitcoin will replace current currency but I think it's impossible, I think Bitcoin will live parallel with current money system but is in the Internet 
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 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 !
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