Can bitcoin replace paper money

1.

Many people think that the reason why bitcoin is valuable is because it is "rare", and if bitcoin is no longer "rare", then it will not have value

this is a misunderstanding. Let's consider a question: what is the essence of all "currencies"

the answer is trust. The biggest reason for the value of the dollar is because of the credibility established for the dollar under the Bretton Woods Agreement, rather than the so-called equivalent exchange with gold (although others say so). The main reason why RMB is valuable is because of the trust system of RMB in China and neighboring countries, rather than the exchange with us dollar reserves (see offshore RMB). This can explain why the currencies of some countries (such as the ruble of Russia, as well as the Zimbabwean currency as you all know) have been greatly devalued, because the government and the current world situation have led to a trust system that does not support the existence of this currency. The so-called economic sanctions and currency speculation are very superficial and superficial reasons

the essence of money is trust

What about bitcoin

bitcoin has no centralized Trust Measurement institution. The value of bitcoin, namely its "credit system", comes from distrust of centralized units. Every country finds that seigniorage is too easy to collect, which leads to the increasingly poor trust between countries. Even the people of all countries do not trust the national currency

and trust, like quality, is conserved. Trust in centralized money decreases, while trust in decentralized money increases naturally

this is the essential reason why the value of bitcoin continues to rise. Therefore, for digital currencies such as bitcoin, there are only two outcomes. Either countries want to understand that they will no longer issue excess currencies, issue additional currencies in a scientific and reasonable way, unify stable exchange rates, and maintain the credit system of centralized currencies, then the value of bitcoin will be infinitely close to zero. Or countries will continue to drink water to quench their thirst, and more frantically use the method of issuing excess currency to collect seigniorage from everyone, then the trust in the centralized currency will be lower and lower, and the total value of bitcoin, a decentralized currency, will be infinitely close to the gross labor value of all the units that do not trust the government and other governments, but need international trade

either the price is crazy or it's worthless

after understanding these, we can answer this question. Will bitcoin be replaced by other digital currencies

swindlers like * * and even the old Wang next door can come and yell, "I spent 10 minutes to change bitcoin's core and create a new digital currency called SBC. Come and join my ICO and pay me seigniorage ~". So, if this happens, will you immediately choose to use Lao Wang's SBC next door

the answer is that some speculators will participate, but the market will not. The reason is very simple, the new cryptocurrency has not been recognized by the market, the application has not been proced, this kind of currency has no way to exchange for means of proction. Then this kind of currency is not money, but a virtual commodity for speculation. In other words, even if old Wang ICO next door has an SBC, no one will choose this kind of currency except those speculators who have no brains

in the current market, there are many other digital currencies, such as Ethereum, EOS, XRP, and so on, which may have technological advantages in some aspects (in fact, BTC has been evolving, and it will also learn from the advanced technologies of other digital currencies that have been successfully proved by the market. LTC and other currencies can be said to be the experimental currencies of BTC's advanced technologies.), There may be more application scenarios than BTC in the future, but they are not likely to challenge the status of BTC. BTC will always be the first consensus in the currency circle, which is the belief of many people. BTC will exist for a long time as the gold in the currency market, not mainly for the circulation of digital currency

2. At present, it can not be replaced
bitcoin has many advantages such as world circulation, decentralization, exclusive rights and fixed quantity, and its formation is also under the needs of human economic development. Therefore, with the development of bitcoin, its existence will bring certain challenges to the traditional currency. However, at present, although bitcoin believes in liberalism and the principle of science and technology, it has brought great challenges to the traditional currency. However, from the characteristics of bitcoin circulation, such as high risk, difficult supervision and instability, bitcoin can only coexist with the traditional currency for a long time in the future, but it can not replace the traditional currency.

3. Hello, I personally think that virtual currency is the trend of currency development in the future. Bitcoin or other virtual currencies are likely to replace legal currency, because virtual currency is a decentralized currency, and it is not controlled by any organization. It can restrain the growing inflation to a certain extent, and there will be no counterfeit currency, It is also a relatively good thing to become a new variety of people's consumption or investment. The above is my personal point of view, I hope to help you.

4. It's impossible. First, it's the problem of circulation. After all, each country has its own exchange rate, so it can't be unified. Bitcoin is a virtual currency, which can be mined privately by setting up servers, so it can't replace money

5. Currency issuance is very complicated.

the most basic thing is the gold standard market. In fact, virtual currency is basically the same as RMB, which has no value. It is endowed with value by the government and becomes a circulating thing.

when bit must have a mature carrier, there will be mutual trust, just like credit card.

however, it will take a long time to develop economy, There will be great changes in the fields of politics, science and technology, etc.

it seems to be unrealistic in recent decades

6. Hello
first of all, we need to be clear - what is currency? In essence, money is an identification of collective will
no matter what form of money is, it needs human recognition of its value before it can be used for trading (it has three main characteristics: 1. Scarcity; 2. Difficulty to , proce or transport; 3. Economic value). This is true of shells, gold and legal coins
bitcoin relies on blockchain Technology (the so-called blockchain is to explore the potential value of human beings in the form of Computing). Generally speaking, for example, there is gold underground in South Africa, but it has not been mined. Do you admit that the gold can be traded? If you trust to trade, the bitcoin will be valuable, If you don't trust a computer, it's worthless data
in short, transactions divided by barter accidents are all public trust exchanges, so bitcoin (endorsed by human potential value) may also replace legal currency (endorsed by government tax); The biggest problem is that if the issue of bitcoin overdraw the future of mankind, our finance would collapse. Therefore, in the past 20 years, legal currency should still be the mainstream (at the same time, it is linked with taxes and rare metals, and the security is relatively high)
the content of this paper is based on xiaoshuo 2018 ~ introction to the economic system
I hope I can help you a little bit, thank you.

7. Calculation data: active power degree, reactive power degree, variable loss active power degree and variable loss reactive power degree. It is difficult to calculate without detailed data
if the power factor standard is 0.9, the penalty will be 0.1% of the total electricity charge for each 0.01 lower than the standard (the active power variable loss fee is not included), and the lower the penalty, the more accumulated; For every 0.01 higher than the standard, the prize is 0.15% of the total electricity charge (the active power variable loss charge is not included), and the higher it is, the more it will be accumulated
the following figure shows the calculation formula of power factor monthly settlement:
http://hi..com/%B3%C2%BC%E1%B5%C0/album/item/fbd06a7ab0294fd70ad187e8.html