Quote from: abugseuf on October 18, 2016, 02:24:02 PM

Quote from: Fatanut on October 18, 2016, 12:13:21 PM

Quote from: xuan87 on October 18, 2016, 12:03:55 PM

Quote from: gabmen on October 18, 2016, 11:56:08 AM

Possibly yes in the near future but not entirely. Fiat I think would still be the main currency in the coming decade or more though I think other currencies would be accepted, especially bitcoin as some countries are already supporting this right now. But for the question if it can actually replace the current monetary system? I don't think I'd be able to see that in my lifetime

I don't think bitcoin will be able to replace money, from the amount itself, bitcoin won't be able to support half of the world wealth, and then for now the transaction speed still become number one problem why some store doesn't want to use bitcoin, so I don't think bitcoin can replace money

The number of Bitcoins in circulation is enough. If all the people in the world converts all their fiat into Bitcoin, it will just inflate Bitcoins. Bitcoin doesn't have to be billions in number in order to support the wealth of the world. Actually, even if the number of Bitcoins in circulation is lower, it would still be okay because as more people convert their fiat into Bitcoins, it will just continue increasing its value.

i do not think that if all the people of the world will start using bitcoin and it will be enough for all the people, the miners should increase mining bitcoins as that they can fulfill the need of the increasing number of bitcoin users.

As long as bitcoin usage is well balanced although not that same in percentage, we don't have to worry with the supplies. With the lots of usages today of bitcoin including converting it to fiat, using direct payment etc. we can expect that coins are well distributed and not just it was owned by big hoarders or whales.

And with the divisibility of bitcoin into 8 decimal, it really a good factor in terms of disrtribution as people can own even a small amount out of the whole supply that will mined in the future.