Quote from: bobyhodob on November 17, 2017, 06:16:09 PM

Quote from: fuer44 on November 17, 2017, 06:44:47 AM

Quote from: Oasisman on November 14, 2017, 02:07:13 AM

Quote from: Parazyd on December 23, 2015, 02:54:15 PM

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 youre on point. Heres the thing, Bitcoin cannot replace fiat because.. Btc value only depends on another currency's existence which we call it "fiat". Bitcoin in reality is not a money. Bitcoin only provides a transfer function, wether its a payment for a service, or a payment for a product. We invest btc with the hopes to pump up its value right? We use fiat money to invest, some get it from services like campaigns, faucets, blogs, etc. But at the end of the day when the Btc value met or exceed our expectations, we exchange it for fiat. So, how can Btc replaced fiat in these case. Can Btc creates its own value without depending in another form of currency? Yes, btc has a lot of good features than fiat in some cases but simply cannot replace fiat.

yes, I really agree with you. the reason is quite simple, how can digital currency replace fiat? I will also add a little bit of my opinion on this, bitcoin is a new thing for investment, trading, and online transactions purposes. there is also no clear regulation from the government on bitcoin, so I think it will be better as it is now. we invest our money in bitcoin, pumping its value to go up properly and exchange it for money in the hope of making a profit.

Fiat is under government regulation and fiat used by all people in the world, in fact I think fiat is still better in terms of transaction, no fees, the payment can be done anywhere, there is no confirmation and work offline 100%. So how bitcoin can replace fiat, if the fact fiat is still excelled in terms of transaction.

I agree with you i also do not think that bitcoin can replace fiat we are not that far in the future where we could just let fiat die and use bitcoin it would not work right now because not a lot of people know about bitcoin.

Sacredtoad

Posts

Merits