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[castbound castboundoski]

You know in the past people used salt to trade instead of money , now the salt is meant for something else. Do you think real money will disappear? Will BTC be the next new big thing ?

 

[castbound castboundoski]

If any government will find a way to exploit Bitcoin, then it wouldn't be a problem replacing the paper money with bitcoin. First, they will save time and resources from creating the paper money. Second, bitcoin cannot be pirated (creating fake copies) unlike paper money which is very prone to piracy. And lastly, bitcoin is universal and so you won't need exchangers when you go to different places or different country.

Well yea bitcoin would change everything basically, like you said.Im sure they might as well make it legit in every country if they find a way to exploit it.Saves them time and money from making the paper ones ^^

 

[tusziget]

Which means no banks = no need of paper money to be printed.Thats what cryptocurrency may do to paper money. Its basically like in history some of the things we used to trade with are no longer used for trading purposes.

It would be nice if Bitcoin will be printed on paper.I have seen some Bitcoin coins online(which costed a lot of cash to buy),but paper Bitcoins not yet...

 

[Lovely]

Personally,I think this is almost impossible,considering the fact that Bitcoin is virtual money and not everyone has access to the internet.Like in my country many people don't even know about bitcoin as a form of money.I think it only everywhere online and that 's where it ends.

I was thinking it could it be made in a physical form like dollars or even gold but even at that,it will take some countries like mine a longer time to totally replace it with their usual money.Well,Sometime never say never because the world is dynamic and we don't know the future but it can only be if we can change it to physical money.

 

[castbound castboundoski]

I dony think it will. Real money is still real money. And i dont think a lot of normal people know about it. Based on what ive read

Nobody knows how many bitcoin users there are but there were 11.48 million bitcoin wallets in existence in January 2017 according to Blockchain.info. Each bitcoin wallet is a potential customer for an online merchant."

So I would say a safe guess is anything less than ~11.5 million. The obvious next question is the average amount of addresses per person and how many people are using cold storage. So essentially 11.5 million / 7.5 billion global population would give us ~0.15% of the population actually owns a bitcoin (my estimate is less)? An interesting indicator of bitcoins potential in the future.

Maybe they know about it but they are not paying too much attention. People still tend to use real money on everyday basis.
I dont think a lot of my long time friends are interested on cryptos even im telling them how big this will be in the future smh

Well for now yeah.You provided us with some interesting statistics.There is no way that paper money will vanish all of a sudden .. In any way if that is about to happen then its gonna be slowly , when everyone gets to know about bitcoin.I do think people are just waiting for a stable price or something.

 

[tusziget]

Well for now yeah.You provided us with some interesting statistics.There is no way that paper money will vanish all of a sudden .. In any way if that is about to happen then its gonna be slowly , when everyone gets to know about bitcoin.I do think people are just waiting for a stable price or something.

You are right,but I don't think that the Bitcoin's price will be stable ever:it will rise(as we have seen till now)or sometimes will drop a little bit to rise again...We can see always that the Bitcoin's price is in constant fluctuation...

 

[Abdul hanan]

No crypto currencies are full of risks. FIrst of all their rate keep on increasing or decreasing. second as it is untraceable so if hackers attack us we can lose all our money. People mostly use cryptocurrencies to earn or to trade.

 

[tusziget]

Personally,I think this is almost impossible,considering the fact that Bitcoin is virtual money and not everyone has access to the internet.Like in my country many people don't even know about bitcoin as a form of money.I think it only everywhere online and that 's where it ends.

I was thinking it could it be made in a physical form like dollars or even gold but even at that,it will take some countries like mine a longer time to totally replace it with their usual money.Well,Sometime never say never because the world is dynamic and we don't know the future but it can only be if we can change it to physical money.

Yes,maybe Bitcoin will be touchable like dollar or euro in a few years,I think.Maybe people will ask this and due to the high request the governments will decide to make Bitcoin physical like dollar etc.

 

[Caire]

Some people are using bitcoins for investments especially if its high in value..why not take that advantage now to earn some profit??i think best thing to do is invest bitcoins and if u got enough convert it to ur money currency!! That way its safe..

 

[FreeIAm]

I don't think it will happen. If it does, how about those who does not have access to the Internet. Where and how they would be able to obtain Bitcoin? I think it is important to note that this is just part of a new technology and it is happening because of the advancement.

 

[castbound castboundoski]

Both real world currency and the cryptocurrency are not going to be disappear from the world. All of them are going to play their role into this. And they are going to affect each other. But the crypto and private nature of the currency is going to make it harder for some currencies. I have seen how the hackers make use of the bitcoin and they earning some good money in due process. I think more private currency the better.

Well you can see that people are finding a good or bad use of bitcoin and some of them are even exploiting it.Thank you for your opinion in anyway. Personally, I think crypto's might make the paper money disappear but not now.

 

[Medowriter]

If bitcoin becomes globally accepted, there are chances that physical money may loose it value in a gradual process but this may take years.

 

[HJVC Notes]

No, because how can the corrupt politicians will accept bribes if they can be trace using Blockchain technology if they send money through cryptocurrencies (in addition to the fact that the cryptocurrencies value is so volatile).

 

[castbound castboundoski]

I don't think so. Real money will always exist not all people have access on the Internet.

Right now yes but big companies such as Facebook are working really hard to provide internet access even on the hardest areas possible to have a connection in. At this point they might not have internet but at some point they may be able to connect on the internet. We never know ^^

 

[tusziget]

No, because how can the corrupt politicians will accept bribes if they can be trace using Blockchain technology if they send money through cryptocurrencies (in addition to the fact that the cryptocurrencies value is so volatile).

I didn't know about this thing.I do know,that many people like to do transactions with cryptocurrencies,because they are anonymous,and this can give in some way some security.I like this thing very much,by the way.I think,that's one motive,why cryptocurrencies are so popular among people.

 

[castbound castboundoski]

nO I DONT THINK SO IT WILL HAPPEN
THERE ARE MANY COUNTRIES WHERE THERE nobody knows about cryptocurrencies
also there are many hacking risk online so i think people are not going to just risk their money
besides there are many services which cant be bought online....
Thats all i got in my mind

Its risk even if you work with paper money.. you can get robbed, your money can get lost .. Theres always a risk with money. Cryptocurrency wallets are working hard to give us the best security we can have . I heard recently that one millionaire got hacked and lost huge amount of money on bitconnect.. We should be really careful with what we are doing.

 

[Abdul hanan]

Its risk even if you work with paper money.. you can get robbed, your money can get lost .. Theres always a risk with money. Cryptocurrency wallets are working hard to give us the best security we can have . I heard recently that one millionaire got hacked and lost huge amount of money on bitconnect.. We should be really careful with what we are doing.

There is risk in everything. We can get robbed of paper money but someone can also hack our bitcoin wallet so there is risk in every shape of money.

 

[castbound castboundoski]

I don't think that cryptocurrencies will replace real money anytime soon.
In the past, when the bitcoin price was low, around $300-$400, I started using bitcoins, mostly earning from faucets and other sites - it was easy, the earnings were good, but now.. The fees are insane, even higher than PayPal and other payment processors fees and the confirmation of the transactions could take a lot.. I want when I send money the payment to be processed instantly and to pay reasonable fee which right now I can't if I choose bitcoins.
The price is too unpredictable as well. I don't want to buy bitcoins at $4000 and tomorrow the price to drop to $3000..

Exactly. I agree with you that paper currency won't disappear anytime soon because of the facts you specified. The fees are just enormous.. and the price at the moment is unstable but that doesn't mean that its not going to become stable ever. When it does become stable then its gonna be a different story.

 

[tusziget]

It is impossible I think,for the paper currency to disappear.It is on the market for a very long time,to disappear.I think,that cryptocurrencies and paper currencies can very well co exist.It is good,to have a huge amount of both currencies

 

[castbound castboundoski]

I think it will for sure but i agree with the fact that fees will be increased dramaticaly

The idea was to have no fees or very small fees but the more the bitcoin price rises the more the fees go up.. its sad but true. Wallets need to make money as well and I'm sure that even if all the countries start using Bitcoin and let the people use it then they gonna have to pay fees so the countries can make profit :d

 

[tusziget]

Yes,I have seen that too.At the start,when I was receiving satoshis from the faucets,there were no fees at all.As the price of the Bitcoin started to get higher,there have been taken higher fees.What can we do?We accept it,and are happy,that we own Bitcoins.