Quote from: nicster551 on September 22, 2017, 09:03:28 AM

Quote from: stompix on September 22, 2017, 08:55:03 AM

Quote from: Theb on September 14, 2017, 03:19:51 PM

I think of many reasons or the possibilities of Bitcoin replacing Fiat Currency and I see the following flaws in which makes the chance of it smaller.

1. Transaction Time - When you are in a hurry or inside a line of the store by paying Bitcoin you are both wasting your time and the store's time as it will take longer compared to a fiat currency which is instant.
2. Transaction Fee - Also by using Bitcoin you are also adding additional cost over your purchase price in which is needed in order to complete the transferring of money,
3. Adaptability for Older people or for people who are not technically inclined - It may take some time for them to adapt something that is not useful for them.

Well this reasons might be debatable but this are the obvious hindrances that Bitcoin will face if it ever want to replace Fiat currency.

Both number 1 and number two can be adjusted and solved.
Number 3 will change with time. A century ago old poeple were wondering what a tv is, nowadays I see a lot of them with smartphones.

The real problem is that you need internet.You need a way to communicate with a node.
And in countries where running water is a a problem this one won;t be solved to quick.

Yes the real problem is internet because there are some country that offers a low speed internet and also the payment is too high. Internet is the way to connect the other people from different places but their are some people that cannot use internet because of poverty.

I dont think its actually going to happen; crypto currency is in no way going to replace conventional money. There are reasons every country is supposed to use their own currency, and I believe most of the countries will feel cheated if in any way, Bitcoin is used to replace regular currencies. Bitcoin is an investment stock, which is why its decentralized and thats what it remains.

michnelli6

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