Post
Topic
Board Economics
Re: Bitcoin can not replace fiat
by
magmar
on 12/04/2018, 15:06:08 UTC
Yes, got you intrigued, didn't it?

Bitcoin is a very good thing to have as an asset. Just like gold. Even better if I may say. It's secure, and unlike fiat money it actually exists and work is put into it to produce it. This makes it great to store value.
However, it cannot and will not replace current fiat money that the entire world it using. It just cannot.
Take paying a cup of coffee for example. To pay your coffee with bitcoins, one must get bitcoins first, either by mining or buying bitcoins with other kinds of money (*cough*fiat*cough). It ends up being a quite complicated process, don't you think?
Until we reach the point where paying for a cup of coffee is as easy with Bitcoin as it is with cash, we will never get mass adoption. And as far as I see it, there is no way of simplifying the acquiring of bitcoins.

Yes totally yes definitely not in this era because there are still some people who cannot access the internet so.how come that they can access the bitcoins and all the other coins. The problem is we are gonna have a hard time switching into things that the people used to use. Because that is much more essy and convenient to them. Ising a different currency os gonna be a hard thing. And still there are a poor people that will not access it and that is gonna be a bias