Nice question @dylen.in my own opinion, I feel bitcoin will lead to lesser usage of fiat money. It might not take it away outright and totally, but it will lead to its reduced usage as we've already started experiencing. In response to this I believe the Central banks could simply step in and offer their own digital currency, to pre-empt a Bitcoin takeover. There is such a thing already, of course. It’s what happens whenever central banks buy assets by creating bank reserves. It’s all just digital entries on a spreadsheet. Creating central bank “digital currency” simply means offering existing digital account services to a wider group of entities.
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Thanks.. okay at least its not going to vanish totally like instantly .. but how are we going to measure the values of that bitcoin lets say 1.00 dollar yup I see it and i know its value right away but bitcoin yup I know that too but to use it as a currency to buy thing its value based on what? I'm sorry for asking too many question..
Thanks a lot @dylen for your well thought and reasonable reply and question, it well appreciated and thanks @exyle for this opportunity you given us. Very true, fiat is not going to vanish immediatelyn my own opinion, I believe goods and services will be priced in bitcoin just as they are priced in dollar now. For instance, I read a post by a wonderful steemian @jrcornel, were houses were put up for sale in in turkey for a certain amount of bitcoin. The prices will be stated in bitcoin, for example 70bitcoins,just like in the case of the dollar, example $10000. You can read more about the post here for more information
https://steemit.com/cryptocurrency/@jrcornel/you-can-now-buy-apartments-in-turkey-using-bitcoin
So I believe
How I wish this thing came into my head before... my curiosity will never just stop by answers.. I think its enough for me ...for now... thanks and have a nice day there
You welcome. Your questions are Always appreciated, please keep sending them in, they help make this wonderful steemit community better.
Once it's in your head it wont ever go away. I think about blockchain and crypto all the time.
and so am i right now..haha thanks
No you are not asking many questions. I wish there was a platform where people could ask questions and other peiple comment and not just the poster. People atimes are just conscious of an upvote her and there and forget the true purpose of steemit. Steemit is a community and we are here to help each other. I like it when people dont just come to read but to be cleared on issues they have. I like your mindset and i believe @exyle and @gavvet share the same thoughts too. Two great people in the making i look up to on steemit. Pls feel free to ask questions.