will there be a miracle of bitcoin to shift conventional currencies - page 2.

shinratensei_

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Quote from: Khumaidi on August 23, 2021, 03:47:59 AM

however, many are pessimistic that Bitcoin will be able to shift conventional currencies both at the local and global level, will there be a miracle of bitcoin to shift conventional currencies

It seems like you need to reach the bitcoin whitepaper again. Bitcoin can be considered as a new way for people to get out from the centralized economic system related to the fiat money as a currency that is fully controlled by the government. that gives so many restrictions for the users that were not able to be free from the intervention created by the regulators.
Bitcoin and conventional currency will co-exist. A replacement can be made by bitcoin as a digital currency but when it comes to the fiat money in real life and then fiat will always become fiat.
Bitcoin has become a new standard in the digital currency right now.

Frengki_cisco

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No, Bitcoins can't go back and forth like conventional money as long as this happens no miracles can happen, Bitcoin is not money to store value, Bitcoin can only be exchanged not yet fully functioned as a trading tool or medium of exchange, as happens with conventional money obviously that's impossible.

masulum

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hmph..

Each country has a policy towards the currency. This may prevent Bitcoin from becoming a conventional currency. The main reason is when bitcoin is made into a conventional currency that cannot be seen by the government because it can hold many assets without identity, then this will be considered as tax evasion. unless there is a country that actually has a transparency policy for bitcoin holders, it doesn't seem like a miracle for bitcoin and altcoins to become conventional currencies. the question now is, are they willing to disclose their identity and the number of assets value they have to the government?

aemma

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Quote from: Khumaidi on August 23, 2021, 03:47:59 AM

Bitcoin is touted as a new miracle in this century, it has become an alternative to complement the needs of financial transactions at the global level now, Bitcoin can then be said to have succeeded in establishing itself as a universal currency, because we can say that Bitcoin is very qualified as a money because it is durable, rare, shareable, and recognizable, Bitcoin became the currency of the virtual world on its way Bitcoin (BTC) transactions exploded and shocked. The product is selling well and becoming a prestige of individual wealth in the international world, however, many are pessimistic that Bitcoin will be able to shift conventional currencies both at the local and global level, will there be a miracle of bitcoin to shift conventional currencies

Your points about Bitcoin are valid and actually true, Bitcoin has grown to be the best cryptocurrency today because it solves the issues limiting people to carryout various transactions easy, cheap and fast, unlike going to the financial institutions where you will wait for hours, with Bitcoin a payment can be done easily from your own comfort place.
Secondly, I don't think and have not buy the idea that Bitcoin will one day shift or replace conventional currencies (that is fiat), the world government will not even buy into the idea.
Thirdly it is my own understanding that Bitcoin will fill in the gaps or lapses created by fiat monetary system, it will work alongside with fiat to make payments easy and fast, it will solve the issues which has limited a lot of people to access certain financial services freely without any intermediaries, and the list continues.

the ghabbar

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Quote from: Khumaidi on August 23, 2021, 03:47:59 AM

Bitcoin is touted as a new miracle in this century, it has become an alternative to complement the needs of financial transactions at the global level now, Bitcoin can then be said to have succeeded in establishing itself as a universal currency, because we can say that Bitcoin is very qualified as a money because it is durable, rare, shareable, and recognizable, Bitcoin became the currency of the virtual world on its way Bitcoin (BTC) transactions exploded and shocked. The product is selling well and becoming a prestige of individual wealth in the international world, however, many are pessimistic that Bitcoin will be able to shift conventional currencies both at the local and global level, will there be a miracle of bitcoin to shift conventional currencies

I like your analysis, but it is not the target of crypto to replace fiat currency / paper currency, this is very Contrary to the basic foundation in building crypto from the past until now, I think this is not true.

But if you mention that alternative bitcoin as a necessity today is quite convincing and even today the only coin that has stability is bitcoin, compared to altcoins and other coins, today I have not seen the function of cryptocurrence as a fiat currency shifter or conventional.

Khumaidi

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Bitcoin is touted as a new miracle in this century, it has become an alternative to complement the needs of financial transactions at the global level now, Bitcoin can then be said to have succeeded in establishing itself as a universal currency, because we can say that Bitcoin is very qualified as a money because it is durable, rare, shareable, and recognizable, Bitcoin became the currency of the virtual world on its way Bitcoin (BTC) transactions exploded and shocked. The product is selling well and becoming a prestige of individual wealth in the international world, however, many are pessimistic that Bitcoin will be able to shift conventional currencies both at the local and global level, will there be a miracle of bitcoin to shift conventional currencies

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