Why Do People Believe Bitcoin Will Replace Fiat? - page 4.

Rassah

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Quote from: stellar1 on January 10, 2015, 10:12:38 AM

Fiat will remain as long as we have sovereignties. The closest could be when a certain nation decides to issue their own alt coin.

How many folks are settling all their monthly/daily bills today in BTC ? The answer is probably zero. And its been six years already. Sixty years later there is only one way a human can settle all their daily/monthly bills in BTC >> the country they live in has issued their own alt coin which can't be BTC...unless they gained complete control of BTC.

Sovereignties don't control their currencies in the way you think. People only use their currencies as long as they don't break, or something better doesn't come along.

This should be required reading for this thread http://nakamotoinstitute.org/mempool/speculative-attack/

freebit13

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I got Satoshi's avatar!

Because one doesn't need expensive armored vehicles to move it around or huge bank vaults to store it... that's provided free of charge by the blockchain... pretty neat eh?

bitcoinmaniac52

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Presale is live!

i was under the impression when i first started using BTC that it was going to take over the fiat currency myself but now I donjt think it will , its too unpredictable in the way it fluctuates up and down. Its definitely a good novelty source of payment and a way to not pay taxes lol but i think it isnt gonna take over for regular moneys

botany

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Quote from: calfries on January 10, 2015, 03:29:58 PM

People may be more inclined to believe in Bitcoin if there were ATMS with Bitcoins.
I mean not just a few but as common as regular ATMs. Maybe they could integrate them into
regular ATM machines? This would certainly change the thinking of people.

Why have ATMs if we want people to think of Bitcoin as a currency?

BitCoinNutJob

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I believe crypto and digital currency will replace fiat, should imagine it is wiped out in our lives.

calfries

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People may be more inclined to believe in Bitcoin if there were ATMS with Bitcoins.
I mean not just a few but as common as regular ATMs. Maybe they could integrate them into
regular ATM machines? This would certainly change the thinking of people.

QuestionAuthority

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You lead and I'll watch you walk away.

Quote from: biscotaste on January 10, 2015, 11:33:05 AM

Bitcoin will always be a part of the world financial system. The question of course is what % of it will they occupy?
Unfortunately, our world government (USA) will be the one who allows Bitcoin to grow or not.
Just like the US does for countries, controlling their markets or imposing sanctions for political reasons.

Is this fair? Of course not, but are you going to do about it?

Oh, that's silly. Just because you overthrow a few foreign governments and put your own puppet in power you get a bad reputation. It's not that bad. The USA only wants everyone in the world to do what they say as if it were the word of God. No big deal.

biscotaste

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Bitcoin will always be a part of the world financial system. The question of course is what % of it will they occupy?
Unfortunately, our world government (USA) will be the one who allows Bitcoin to grow or not.
Just like the US does for countries, controlling their markets or imposing sanctions for political reasons.

Is this fair? Of course not, but are you going to do about it?

FandangledGizmo

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Bitcoin won't replace fiat as it's volatility makes it unsuitable for businesses as they work on tight margins.

However dollar stable decentralized assets solve this problem.

They allow a volatile crypto-currency to back stable options as demand for the stable option grows the backing crypto-currency will grow in value too.

This option allows a functioning decentralized economy to grow around whatever option is most suitable to business instead of businesses immediately selling for fiat which is what I think is responsible for this pro-longed downtrend, the more utility BTC gains the worse it does imo.

Thekool1s

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Change is in your hands

People believe because they think rest of us will wake up soon and stand against the corrupt system. Education is the main part many people still believe that dollar is backed by gold which isn't true. Let the people get educated and once they realize the potential great things can be accomplished.

stellar1

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Fiat will remain as long as we have sovereignties. The closest could be when a certain nation decides to issue their own alt coin.

How many folks are settling all their monthly/daily bills today in BTC ? The answer is probably zero. And its been six years already. Sixty years later there is only one way a human can settle all their daily/monthly bills in BTC >> the country they live in has issued their own alt coin which can't be BTC...unless they gained complete control of BTC.

As to what people believe what will replace fiat is well, another belief.

botany

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Quote from: Rassah on January 01, 2015, 01:38:53 AM

Quote from: botany on January 01, 2015, 01:30:20 AM

Quote from: Bagatell on December 30, 2014, 05:19:44 AM

Quote from: mikeh2 on December 27, 2014, 11:43:51 PM

nobody ever said bitcoin will replace fiat, what are you smoking

"Bitcoin will be adopted as the global currency."

The Bitcoin Central Bank’s Perfect Monetary Policy

A lot of very powerful people won't be too happy if that happens.
They will do everything in their power to stop it.

Or they will move their assets into bitcoin, and be powerful bitcoiners.

People who get their power from setting monetary policy, running large fiscal deficits which are tackled by depreciating the currency, etc wont benefit even if they move their assets into bitcoin. Bitcoin will remove their power and we will have a true, free market economy.

Rassah

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Quote from: botany on January 01, 2015, 01:30:20 AM

Quote from: Bagatell on December 30, 2014, 05:19:44 AM

Quote from: mikeh2 on December 27, 2014, 11:43:51 PM

nobody ever said bitcoin will replace fiat, what are you smoking

"Bitcoin will be adopted as the global currency."

The Bitcoin Central Bank’s Perfect Monetary Policy

A lot of very powerful people won't be too happy if that happens.
They will do everything in their power to stop it.

Or they will move their assets into bitcoin, and be powerful bitcoiners.

botany

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Activity: 1582

Merit: 1064

Quote from: Bagatell on December 30, 2014, 05:19:44 AM

Quote from: mikeh2 on December 27, 2014, 11:43:51 PM

nobody ever said bitcoin will replace fiat, what are you smoking

"Bitcoin will be adopted as the global currency."

The Bitcoin Central Bank’s Perfect Monetary Policy

A lot of very powerful people won't be too happy if that happens.
They will do everything in their power to stop it.

Lauda

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Terminated.

Quote from: Bagatell on December 30, 2014, 05:19:44 AM

Quote from: mikeh2 on December 27, 2014, 11:43:51 PM

nobody ever said bitcoin will replace fiat, what are you smoking

"Bitcoin will be adopted as the global currency."

The Bitcoin Central Bank’s Perfect Monetary Policy

This pretty much explains it:

Bagatell

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Quote from: mikeh2 on December 27, 2014, 11:43:51 PM

nobody ever said bitcoin will replace fiat, what are you smoking

"Bitcoin will be adopted as the global currency."

The Bitcoin Central Bank’s Perfect Monetary Policy

pattu1

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Quote from: bf4btc on December 28, 2014, 07:33:16 PM

Quote from: keithers on December 22, 2014, 06:15:36 PM

Quote from: LewiesMan on December 17, 2014, 08:45:55 AM

Cause it's better, simpler and you control your funds! No one can touch your money!

This is pretty much in a nutshell one of the primary reasons governments won't allow Bitcoin to replace fiat...even if adoption reaches a grand scale.

as mentioned above, in a democracy, the people are the government.

also the issue or question of bitcoin replacing traditional government fiat is not up to any central authority, it is up to the market if the market does not accept fiat at a large enough pace and does accept bitcoin at a large enough pace then bitcoin has replaced fiat

The Government has enough tools at hand (taxation, regulation) to ensure that this does not happen.

bf4btc

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Smoke weed everyday!

Quote from: keithers on December 22, 2014, 06:15:36 PM

Quote from: LewiesMan on December 17, 2014, 08:45:55 AM

Cause it's better, simpler and you control your funds! No one can touch your money!

This is pretty much in a nutshell one of the primary reasons governments won't allow Bitcoin to replace fiat...even if adoption reaches a grand scale.

as mentioned above, in a democracy, the people are the government.

also the issue or question of bitcoin replacing traditional government fiat is not up to any central authority, it is up to the market if the market does not accept fiat at a large enough pace and does accept bitcoin at a large enough pace then bitcoin has replaced fiat

mikeh2

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nobody ever said bitcoin will replace fiat, what are you smoking

Agestorzrxx

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I don't think Bitcoin Will Replace Fiat, bitcoin will be the complete the fiat.

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