Quote from: shawshankinmate37927 on August 25, 2014, 11:27:54 AM

Quote from: TheAccountant on August 25, 2014, 09:34:35 AM

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

Yes, cryptocurrencies will coexist with fiat currencies, just like the automobile coexisted with the horse and buggy. The transition doesn't happen overnight, it takes time.

+1

It may be faster than we think at the moment. Apart from the major savings in the cost of handling/recording/destroying/reduction in fraud ( eventually)/storing etc there are mounting political issues which suggest (eventual) monetary reform would be a good option for Politicians to deflect anger that results from food and utility inflation of 20% + in 2014 due to their irresponsible attitude in "printing" fiat. Once cryptocurrency is perfected it would be a great option to adopt it by issuing their own ( as they will claim it to be so much better for the Nation..which it is when perfected)