Why Do People Believe Fiat Will Replace Bitcoin?

noma

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Quote from: fenghush on January 19, 2015, 11:59:34 AM

Quote from: muhrohmat on January 19, 2015, 11:37:05 AM

the fact of bitcoin is too realted to money landry and the east crimes and drugs department try to wash it there in bitcoin neglects the fact that many good users would enter in confidaence but in general theres like 90% of good people using it soo it can become a good reliable currency and decentrealized as its own value in the overall market and finace so it will coo exist

Flat is used a lot more for money laundering, scams, drugs etc than bitcoin is, bitcoin doesn't even come close.

Thats because still not a people know about it. Like the ISIS a lot of people are slowly realizing its advantage for money laundering, but they can't store all the money in it, due to volatility. Otherwise, its a very popular option ofcourse.

Bitcoinexp

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I highly doubt fiat could somehow replace Bitcoin. But i don't get the implied meaning, do you mean replacing bitcoin by having fiat sent through the ledger blockchain? I agree with OP that they will co-exist as separate currencies, at least for now. While everyone's hopes are for Bitcoin to replace fiat, as do mine, i fear that will not be happening anytime soon. Bitcoin is just too volatile (on a day-by-day view).

LiteCoinGuy

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Quote from: panju1 on January 19, 2015, 07:29:24 PM

Quote from: noma on January 19, 2015, 11:49:18 AM

Quote from: Elwar on January 19, 2015, 11:21:17 AM

I have a hard time following the logic when people make a statement that all fiat currency will replace Bitcoin. In my world view, they coexist and will continue to coexist. I can see where some Bitcoin functionality is adopted by fiat services, but not on a global level. Your thoughts?

Theywill always coexist, I don't ever see bitcoin replacing fiat, specially because of the volatitlity.

The OP is talking about fiat replacing bitcoin, not the other way around. Tongue

and that is the joke he is making Wink

and also:

paper money is too volatile

muhrohmat

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i think its a bit premature to say that fiat will replace or btc will replace i dont thing its possible any of the opitons thay will coo exist but if btc gets a bit better like 500 dollars per unit i might think it becomes a selling possibliity for big companies to use it like apple in products.

panju1

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Quote from: noma on January 19, 2015, 11:49:18 AM

Quote from: Elwar on January 19, 2015, 11:21:17 AM

I have a hard time following the logic when people make a statement that all fiat currency will replace Bitcoin. In my world view, they coexist and will continue to coexist. I can see where some Bitcoin functionality is adopted by fiat services, but not on a global level. Your thoughts?

Theywill always coexist, I don't ever see bitcoin replacing fiat, specially because of the volatitlity.

The OP is talking about fiat replacing bitcoin, not the other way around. Tongue

Elwar

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The illegal drug industry accounts for $500 billion in total worldwide per year.

If Bitcoin was ever used for more than half of illegal drug purchases the price would have to be over $250,000/BTC.

So, is Bitcoin a major player in illegal drugs? If you believe that, then you also have to believe the price for bitcoins will reach 6 digits.

fenghush

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Quote from: newb4ever on January 19, 2015, 12:16:46 PM

Quote from: Bitobsessed on January 19, 2015, 11:47:19 AM

Think about it like music. It is still created by humans, but is turned into digital form for humans ease of use. Same with money. It will always be created by humans, but we are just seeing our money go digital in a safe way for the first time in history.

Our fiat already is digital and in forms much safer than bitcoin. Even the professionals screw up their bitcoin wallets. Fiat in wallets, bank accounts, credit card balances, etc., are already much safer. Our money rarely manifests as tangible physical coins and bills. http://www.coindesk.com/federal-reserve-bank-vp-protocol-just-like-bitcoin/

Virtual flat suffers the same vulnerabilities as bitcoin, a specially crafted browser plugin can siphon funds from your online bank account once you login, bypassing 2fa auth.

newIndia

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Quote from: newb4ever on January 19, 2015, 12:16:46 PM

Quote from: Bitobsessed on January 19, 2015, 11:47:19 AM

Think about it like music. It is still created by humans, but is turned into digital form for humans ease of use. Same with money. It will always be created by humans, but we are just seeing our money go digital in a safe way for the first time in history.

Our fiat already is digital and in forms much safer than bitcoin. Even the professionals screw up their bitcoin wallets. Fiat in wallets, bank accounts, credit card balances, etc., are already much safer. Our money rarely manifests as tangible physical coins and bills. http://www.coindesk.com/federal-reserve-bank-vp-protocol-just-like-bitcoin/

FIAT in digital form has a history of 25 years, whereas bitcoin is only 7 years old. Things are getting better and safer everyday. When SMTP was invented, not everyone could send an email. Is that a problem today ?

newb4ever

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Quote from: Bitobsessed on January 19, 2015, 11:47:19 AM

Think about it like music. It is still created by humans, but is turned into digital form for humans ease of use. Same with money. It will always be created by humans, but we are just seeing our money go digital in a safe way for the first time in history.

Our fiat already is digital and in forms much safer than bitcoin. Even the professionals screw up their bitcoin wallets. Fiat in wallets, bank accounts, credit card balances, etc., are already much safer. Our money rarely manifests as tangible physical coins and bills. http://www.coindesk.com/federal-reserve-bank-vp-protocol-just-like-bitcoin/

Elwar

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What's wrong with drugs?

I am told every day that they can help you.

mirjangka

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Quote from: fenghush on January 19, 2015, 11:59:34 AM

Quote from: muhrohmat on January 19, 2015, 11:37:05 AM

the fact of bitcoin is too realted to money landry and the east crimes and drugs department try to wash it there in bitcoin neglects the fact that many good users would enter in confidaence but in general theres like 90% of good people using it soo it can become a good reliable currency and decentrealized as its own value in the overall market and finace so it will coo exist

Flat is used a lot more for money laundering, scams, drugs etc than bitcoin is, bitcoin doesn't even come close.

in terms of percentage of total commerce the amount of illicit commerce done with bitcoin is much greater then fiat. I would suspect that this will always be the case for as long as bitcoin is heavily used

fenghush

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Quote from: muhrohmat on January 19, 2015, 11:37:05 AM

the fact of bitcoin is too realted to money landry and the east crimes and drugs department try to wash it there in bitcoin neglects the fact that many good users would enter in confidaence but in general theres like 90% of good people using it soo it can become a good reliable currency and decentrealized as its own value in the overall market and finace so it will coo exist

Flat is used a lot more for money laundering, scams, drugs etc than bitcoin is, bitcoin doesn't even come close.

RixDollar

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I agree with the idea that neither one will ever replace the other.

At least not for some time. Grin

Flashman

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Hodl!

They're obviously apologists for the Agenda21 required genocide of all but a small elite by means of spreading virulent pathogens to the populace*...

http://www.upi.com/Health_News/2014/04/23/3000-types-of-bacteria-found-on-US-1-bills/3271398287739/

http://www.digitaljournal.com/life/health/dirty-money-how-our-banknotes-are-covered-with-pathogens/article/364345

http://www.ncbi.nlm.nih.gov/pubmed/2632642

(*Yes I'm joking, linkage be serious drawback of printed fiat though)

noma

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Quote from: Elwar on January 19, 2015, 11:21:17 AM

I have a hard time following the logic when people make a statement that all fiat currency will replace Bitcoin. In my world view, they coexist and will continue to coexist. I can see where some Bitcoin functionality is adopted by fiat services, but not on a global level. Your thoughts?

Theywill always coexist, I don't ever see bitcoin replacing fiat, specially because of the volatitlity.

Bitobsessed

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Think about it like music. It is still created by humans, but is turned into digital form for humans ease of use. Same with money. It will always be created by humans, but we are just seeing our money go digital in a safe way for the first time in history.

muhrohmat

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the fact of bitcoin is too realted to money landry and the east crimes and drugs department try to wash it there in bitcoin neglects the fact that many good users would enter in confidaence but in general theres like 90% of good people using it soo it can become a good reliable currency and decentrealized as its own value in the overall market and finace so it will coo exist

Madness

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Quote from: Elwar on January 19, 2015, 11:21:17 AM

I have a hard time following the logic when people make a statement that all fiat currency will replace Bitcoin. In my world view, they coexist and will continue to coexist. I can see where some Bitcoin functionality is adopted by fiat services, but not on a global level. Your thoughts?

Mentalities change from people to others man , some people are opened mind to new ideas and some people aren't . They basically trust only on cash and just don't care about anything else . Most of people think that Bitcoin is a scam
and they look to Bitcoin like if it's used only on Illegal things and if you may .. I'd give an example .. there is about 1.5 billion Muslims on the world , most of them are cool and nice people , there is few who kill with the name of islam who are terrorists ,right? simply .. now people think that all muslims are terrosists .
I hope you got what I wanted to say Grin

Elwar

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I have a hard time following the logic when people make a statement that all fiat currency will replace Bitcoin. In my world view, they coexist and will continue to coexist. I can see where some Bitcoin functionality is adopted by fiat services, but not on a global level. Your thoughts?

Topic: Why Do People Believe Fiat Will Replace Bitcoin? (Read 799 times)