Bitcoin Forum

How many years will take that fiat coin will be replaced by cryptocurrency?
DO you think it's possible or not at all? Plz share your opinion:)

The correct answer should be no ETA about that, because you are asking about the speculation and no one was know about that. If the more company will try to do a tokenization for the assets and that bring the crypto to the mainstream to increase the adoption by those new users. So, it will be possible but in other side that can be called as a dream

I agree. If to guess, a certain line of events should occur in order to create favorable conditions for the cryptocurrency to be used in everyday life. Until then, the fiat money will not be replaced. And I wouldn't count in years, rather in decades, or even longer.

Everything is possible but we can't really predict our future.
Might be a reality someday because of the rapid evolution of technology.
But too difficult to tell how many years from now will that scenario happen.

Both fiat and cryptocurrency very important present and future, it can't replace, probably never. To do a cash transaction from hand to hand is free and quicker, moreover fluctuating value of cryptos will definitely prevent takeover of fiat.

As with any market, there will be competition and many competitors. Fiat currency will continue to exist for at least the foreseeable future, but it will increasingly have to compete with crytpo. Numerous countries are moving away from physical cash and moving towards putting their fiat currencies on a blockchain. That will give them increased relevance, at least for a time. It will also make it apparent just how much governments manipulate the supply (and thus price) of their domestic currencies. While there will be huge efficiency gains in settlement time and cost, the lost of faith in government/bureaucratic management of the money supply will have the counter-intuitive impact of diminishing confidence in fiat, driving more users to crypto.

Tl;dr: fiat won't be replaced by crypto until at least the singularity, but it will be increasingly displaced, likely at a parabolic rate.

Define replaced.
There is a chance fiat goes crypto.

Some sort of physical tokens will always be in use probably, even if we develop the perfect digital currency. Unless we go way forward and we all have implants that keep us online all the time, but even then some sort of of the record, black market, ninja currency will probably emerge.

Dude, like you and many others in this forum, iI really love crypto currencies. But, let’s be honest here., there is just no freaking way that fiat will be replaced by crypto currency. If you ask me, crypto currency fading away has more possibility to happen than fiat getting replaced. Let’s just be happy that we can use both. Because both are better with each other than being compared.
Have a good one op.

i dont thing so that will happen because .... replace will never happen my personal opinion

I don't think that in a short or long bitcoin won't replace the fiat system. Fiat will always serve as the base for all the financial circulation. Maybe in the later years bitcoin will go similar to the mainstream use of fiat, but there is no need to think about the replacement because compared to the fiat usage bitcoin usage is very low in number.

I do not think that in the near future the crypto currency will completely replace the currency fiat, even in some particular country. For this, it is necessary that there are a number of prerequisites and above all a highly developed technological society that will possess the necessary practical skills and theoretical knowledge in the crypto currency. Now Sweden and Denmark have already announced that they are going to in the near future, in a few years to go completely to the digital currency. However, I do not believe in the success of this revolutionary plan. Maybe this will happen sometime in the distant future.

It is possible for sure but the timeline isnt near any time soon. We first need bitcoin to stablize and that probably will not happen for another few years. Then you need mainstream acceptance and that also probably

will not happen for a few more years. Perhaps 25 years down the line bitcoin can replace fiat but not right now. Also alts will be too radical and unstable to support the change from fiat to alts. I think it is possible for bitcoin

to make that transition but not for alts and certainly not for atleast 25 years time.

In fact there is not such a specific time which we can mention for cryptocurrencies to replace fiat, but it is very clear that it will take decades, because currently not more than 1% of the total population know about bitcoin and even they are using bitcoin as optional, because still altcoins are not too much popular and very limited number of shops are accepting bitcoin for shopping and for other reasons.

It would be sooner. People would want easier way to transact and I believe the fiat too would turn themselves to crypto for staying in the field.

I don’t think it will ever happen. Digitalization of fiat currency like many countries are doing is not the same as replacing fiat. Fiat forms the base of government control over its policies. Government decides how much money to print, what the interest rate will be, use that to either heat up or cool the economy. They use their currency to attract foreign investments. It’s hard to imagine that countries will ever give up that control.

But it’s really interesting to think about how all this would work if there was no fiat. Nothing short of a revolution.

Come on! Never, I guess. This is a single economy - ordinary money and crypto, and both have the right to life

You don't really think governments will let it get that far right  ::)? They have too much to lose.

It takes a long time, but I think if the countries makes their own cryptocurrency and the government supports it with some more favorable regulation than using fiat, that means cryptocurrency replaces the fiat shortly.

I think it will take 5-10 years for the cryptocurrency to become popular and in the future it can replace the fiat but with the government having to control the supply. It also takes time for them to research and create the state-of-the-art security system to avoid being attacked by other countries. In general, it is very feasible but the risk is too great

Agree with you this could never be happen they will accept the currency of crypto but to replace the fiat currency they will never do that government will not agree with this situation they will be still loyal on fiat currency no matter what happen.

It will take a few years for the currency to take effect. The people that don't have the currency want to pay for something, there should be people around that have enough to exchange it.

I don't think its possible within next few centuries and it is quite hard to predict what will happen to crypto and to this whole world beyond next 100 years as we will not be alive by that date.

Postal service are still used instead of Email and same can happen to usual paper cash or metal coins we have right now in next few years. Cryptocurrencies or digital form of currency might cover majority of financial transactions.

I think this will never happen. Cryptocurrency will take its place in the world economy and I do not think that they will be able to have a major position. There will always be states that will not accept this new way of mutual settlements.

In my opinion, its going to take a long while before that is achieved and its because before government will take that massive decision then the knowledge and use of cryptocurrency among the populace should have been deep enough to command that kind of attention. Looking at the current trend that is still a long walk to the promise land but when that is put in place, we can then start deciding about when implementation will start.

When the world becomes a smart world, perhaps 100 years from now, but no one really knows

for me if 80% of living people all over the world using and have knowledge about bitcoin then it is easy for them to change the fiat currency but as long as this is not totally spread all over the world not all of us are users of it then the government will never let this currency to change the fiat.

I do not know how long, but it will all happen for at least a few years. I do not think fiat will be replaced by cryptocurrency. I feel the whole world has known clearly about cryptocurrency. the whole world will soon realize how important the world of cryptocurrency. many people do not believe in crypto currency because there is no clear regulation of government.

No cryptocurrency can't replace fiat coin completely but use of cryptocurrency might grow exponentially in future. I have just gone through a latest report on use of digital currency in India, it have grown significantly in recent few months and I think cryptocurrency will take majority of digital currency market soon.

depends. The best part about fractional reserve banking is they can always make more money to feed into crypto, but not the reverse

I think we are a long way off until this happens, cryptocurrency is dependant on fiat in order for people to use their crypto most of the time you need to cash out into fiat, until bitcoin breaks through and becomes as commonplace as visa we will always need fiat.

There will come a time but that would be at least 10 years away.

It will take several years to be frank.Also I dont think it will replace the entire FIAT but Crypto will settle down beside it. This is the alternate currency and takes lot of efforts to destroy the traditional and conventional currencies.

Hey noob.. you are 8 years late asking this question.
Maybe ask again in another 8 years when we surpass 500,000 ANN topics here. (Over 13k now)

MOAR COINS HODL MOON RICHES EXCHNAGES PROFITS INVESTOR ICO NOW !!!!!1111ONE

Imagine opening the till at a store register and seeing 13,000 different "currencies"  :D

Never on earth.

because even though it may seem lot of people are using it its just mere percentage of whole world population.

i would bet human kind will either end or move to other planets where they completely start off with virtual currency.

This would be hard because without an Internet connection you wouldn't be able to trade crypto. Some countries don't even have wireless internet connection, so if you go there with only crypto, you are broke and dead. If Internet went down (not saying it will, but there can still be issues like the Internet wire between North America and Europe being cut, and lack of electricity for computer systems which might happen in the future as we run out of fossil fuels) then all crypto would basically go down too.

Can crypto replace fiat? I think so. Another way to think about it is that governments create their own crypto. Crypto becomes the new monetary system, but each country will have their own regulated coin asset.

I don't think that fiat will be replaced by cryptos. maybe the one or other country will establish some digital coins but a complete replacement of fiat seem to be not realistic in my opinion

The year we begin to see ai robot on the street corners and shooping malls! Do not think those days may never come, they are  more closer than you think! I will predict that before 2030. Crypto currency will replace large part if payment system!  And Bitcoin will still be leading in gat regards! I plan to still be on bitcoin talk also!

Even a lot of decades will pass from now, it will still not be able to replace the fiat by the cryptocurrencies because they are created for separated purpose and they are here in our world to do their own project or vision and that is not to replace the fiat. We should use both of them and not to decide which of them is worth it to use.

I hope it will be in 3-5 years. There will be a lot of resistance from governments and banking system, but I guess crypto will win.

This will ever happen when all the Gov over the world allows the cryptocurrency. And I don't think gov will allow any decentralised coin to rule over their central bank.
I don't know if is it ever possible for any gov to create their own cryptocoin or not. If that would happen it would be a game changer.

I only see it replacing fiat in regions where the fiat is extremely unstable and the government that runs it is unreliable (I remember something about India banning a certain banknote or something, ruining people's earnings). This could never happen in crypto and thus is probably the most likely place we'd see it happen. The only reason crypto would ever replace fiat is if crypto offers something that the fiat can't. Not only does crypto require some computer knowledge but you also need to have ready access to a computer wherever you go. Fiat is much much easier to use than crypto and since that's such an important concept when it comes to public use I really don't see crypto replacing the major fiat realistically.

FIAT will never be fully replaced as long as people value physical assets (which are inherently easy to centralize)

I think the correct reply is NEVER.

That said - if the world ended and no humans existed - then it would be then.

The thing that most people dont get is that FIAT is already a cryptocurrency - the technology for the cryptology is just different. They use water marks, special paper etc to encrypt the note so it cannot be copied.

Maybe the question should be - will all currency be one day de-centralised? Then you will understand why in my opinion the answer is "never".

Maybe around 5-10 years but maybe will need a lot more. But i dont think they will replace fiat 100%

There would be a bunch of people from the Government wanting to take over the currency listings and there would be a bunch of people trying to get the most for what they have. It'll be hectic.

But in fact, we do not need the money to be completely replaced by crypto-currencies. We need recognition of crypto currency as a payment instrument or property. This will have a very positive effect on the holders.

I wish I can say very soon but cant because it would take mass adoption for everyone to use cryptocurrency.  The general public would need to learn how to use, pay, and receive payments with it.

I don't think it is possible to replace fiat.

I believe that the replacement fiat for crypto currency in the near future is impossible. This can be done in a society where the economy will be well developed and advanced technologies are introduced, and citizens should have the necessary knowledge and practical skills in crypto currency. In countries with a low level of economy, in my opinion, this is not possible at all. It is difficult for me to imagine a grandmother trading in the commodity market, which will take a small amount for the vegetables grown in the garden to take bitcoin.

We are a long way (meaning decades minimum), if it's even possible, from that happening. 

Exactly Fiat never be replaced even digital currency couldnot able to make it lots bank and private wallets providing digital currency most of the people not using they used to with fiat even its providing instant payment.It may take decade or more to adopt crypto currency where huge transaction delay that has to overcome.

But I think .Bitcoin ,one of the Altcoin will replace the Currency System.I am dam sure ,it will happen in future.The price of bitcoin is around the value of 5500$ + now.So soon ,the bitcoin will replace the dollar and then followed by the FIAT.All the using currency will be replaced by Bitcoin soon.You will see this in short period of time.

fiat will not be replaced by cryptocurrencies, they'll live together

It wont be anytime in the near future. You will have to have mainstream acceptance of bitcoin and a couple more. Then you will have to have global breakdown in fiat currency which could happen. There would also have to be a system of taxation put in place for governments to allow that to happen. They will want their piece. Then there will be transition time and finally that may happen.

Cryptocurrency will never replace fiat IMHO. Cash is the best way and the fastest way to purchase something you want. Cryptocurrency is only relying on technology(which is internet and devices) in able to use them. Imagine how inconvenient is that? If you don't have that technology. You can't buy anything because cryptocurrency don't have physical appearance unlike cash. Cash can has a physical appearance. So you don't have to use technology. Just give the money. That's it. And most of all, cash is accepted everywhere. Not all countries are accepting cryptocurrency. So it's hard to imagine that cash will replaced by cryptocurrency. But who knows? Only time can tell us what will happen.

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I don't think that fiat will ever be replaced with cryptocurrencies, at least not in near future. Cryptocurrencies require Internet for their usage and can't work offline whereas fiat work offline 100 percent of the time. Moreover, transactions made in crypto require high fees which makes them unsuitable for small transactions.
Crypto are decentralized and no one can control their flow and regulation. I don't think that the government would allow any such thing that they can't control to come in everyday use.

I think one day it will happen,but not rapidly, let's say in 20 years. A lot depends on the government! Let's see)

to completely altcoin replace fiat coin takes a long time. but gradually progress is quite good

Never cryptocurrencies will not replace Fiat. States can change the shape of the Fiat. I am sure that with time, Fiat will have electronic form. On the methods used, they will be very similar to crypto-currencies but they will always remain under state control, and rightly so. Fiat and cryptocurrency have different purposes and will never be United.

The fiat system might get a digital form, but the same never gets replaced with the cryptocurrency. Several countries have already done the same plan and given the paper money the digital form. Even after years fiat system will be the primary option for all the users.

I doubt fiat will be vanished and replace by a cryptocurrency Because fiat is important in every country. Other countries too will keep on using it unless some country will switch to digital money when they see the potential of having a paper less money that you will use in  paying goods and services.

I am sure that cryptocurrencies will never displace real paper money... and I think this is the position all analytics all over the world have.. there is a possibility that fiat will have crypto version but it will be still the same fiat

I have a doubt that fiat money can be replaced by crypto currency. Fiat money is always more important than others.
If fiat money will be replaced by crypto, so many people especially old people or who can cot use internet will have trouble.

Maybe it would take a 100 years before it happens because they cannot control crypotocurrency unless they make their own and even if they make their own cryptocurrency, their problem is  the supply. It is hard for them to create another supply if they need funds unlike fiat they can easily print paper money with out a problem.

This might never happen but it's not a problem. Cryptocurrency can happily co-exist with FIAT as its become evident in recent years. Bitcoin keeps growing thanks to interest from investors that are dealing with large amounts of FIAT. Legitimizing bitcoin withing a state-economy is actually a good way to expand its use cases.

I do think that its possible but it will probably take many years . To be able to UAE cryptocurrencies you will need either a PC or phone, which is something some people from undeveloped and some developing  countries may not be able to afford. And that's not the only reason, cryptocurrencies also need to be stable in order to be trusted by peoples .

Never unfortunately. Governments can't print or tax bitcoin. But if it would ever happen, then it would be with a government issued crypto currency.

In the economic case Cryptocurrency can't replace the function of fiat around this world.
Cryptocurrency just have a role for a digital comodity and fiat still will be a a valid payment instrument.

Our current financial framework is rotten and stinks imho.

States are already preparing to shift FIAT into crypto. Russia just announced the cryptoruble...

Thinking about the replacement of fiat coins with cryptocurreny is imaginable but in reality i don't think it is possible that fiat coins can be replaced completely because government would not completely allow the use of cryptocurrency. they would still make paper currency so that it is easily available to the people with no knowledge of bitcoins or altcoins .

Although, Cryptocurrency is more popular nowadays, but over thousands of years, people still love gold, silver, diamonds like jewelry and one kind of currency. Moreover, many places in the world, people do not have the internet to know cryptocurrency

Im not sure it will happen. we still need fiat money for daily transactions. for me not worth use crypto for buy something especially buy with small amount. just make me regret if value of that coin increase high. I prefer exchange my coin to fiat if need buy something.

I think here both of them are more advantageous because we can't complete our needs .
At one side we can't make complete our daily needs things without fiat  , but opposite of this side in the cryptocurrency we needs much because our earnings are due to the cryptocurrency market and it's fluctuations with fiat value .
So here both of them are important thing in our daily routine Life , And we can't remove anyone of them .
Here if you will analyse that whether is any country exists where use of bitcoin is available at every place then ofcourse yes ! , But still in most of the countries people  don't know about the bitcoin very well and also they don't want understand because they feels that bitcoin is not much safe option to have payment .

Crypto currency will not replace fiat currency ever. Crypto currencies are alternative just like gold they are to met the demands of cryto activities. The use of digital currencies will definitely increase but fiat currency will not completely lose out.

It will be possible only if a certain cryptocurrency would have stability to replace fiat, due to changing value and it limitations when we can only be able to use it, It's really hard to determine how many years will it take before a cryptocurrency finally took place over fiat .

anything is posible mate. But, in my opinion Fiat can't be replaced by cryptocurrencies. Fiat is something that represents a country's moneraty value. But, they can be partners with cryptocurrencies to build more growth in the country.

I do not think that in the near future it will be possible to go into everyday life to use crypto currency instead of money fiat. Before this, there is a need for a number of conditions for a technological plan, legal and organizational support, and also to achieve a 100% knowledge of users, at least the basics of crypto-currency, from the theoretical and practical aspects. For this, decades must pass. I read recently that Sweden and Denmark want to completely switch to using crypto currency in a few years, abandoning the usual paper money. I do not think that it will work out in them. Although the experiment is good.

I want to add that there is also problems in energy and number of transactions it may accommodate. Digital currency needs device to make transaction and this devices consumes energy in which is not advisable for local transactions. The hashpower uptodate is not also sufficient to accommodate nationwide transactions.

In my opinion, We can't really tell about that and it maybe possible but still we need both cryptocurrency and fiat money. We don't even know if we still exist in the future. Cryptocurrency for me is the best investment asset while fiat money is an asset for what we are using to pay and buy our everyday needs anytime and anywhere. Cryptocurrency has still in it's early age and also has unstable market which is because of the volatility unlike fiat money that has stable value. Bitcoin depends on the community, users and news if ever something bad will happen price will plummet and that is not good in buying goods because we need to wait until the price will bounce back. Therefore, investing in both assets will be really the best way to have if we can.

Material money has been used for a very long time, and it's hard for people to give them up and have only the right money when they grow trust in the crypto currency, then people will be able to gradually give up the fiat

I dont think bitcoin will replace fiat, nowadays this two can both exist together. Nowadays people are using fiat for their transaction. Besides fiat is the basis of financial transactions and even bitcoin. Also, we can't rely on the value of bitcoin for it is fluctuating from time to time.

it won't be long as btc is on TV every now and then, i've just watch a documentary about it and btc were introduced as online investment. in the film, one person claiming to be an investment expert says BTC is a scam :)  but i think its still a success that they put btc on TV.

If that happens then all the money that the people have in fiat will be worth much less than what they thought.

The bank are still way too powerfull, and backed by the most powerfull people in the world. Unless that changes crypto will have a hard time being accepted.

This will never happen according to me. Primary reason is that even if people embrace the crypto world and invest money into crypto, they will never give up their fiat currencies. We have gotten used to fiat currencies for so long that the thought of giving them up scares us including me. What I feel is that instead of replacing fiat, crypto coins will stand right next to fiat as an alternate payment method.

Come to think off that we do engage on bitcoin we do really need to make profits which means we do want to have fiat money again.This is reality and most bitcoiners or investors do have the same thing on my mind.
Bitcoin replacing fiat is impossible and I don't even put up on my mind on this kind of stuff because I do know that government wont really allow such thing to happen.They would rather create their own token which would be used by their own citizens which is more than realistic to consider and to be think off that they would possibly done such thing.

In the world we are currently living in? I don't think so. There are countless places that have no access to internet connections. And a whole bunch that have access but walks slower than you grand mother. Not to mention the way most banks and governments hate the thought of crypto currencies. Plus the confirmation issues and transaction fees. I just don't see crypto currencies taking over yet. We still need fiat currencies badly.

to be COMPLETELY replaced, i would say 100 or more years.

For crypto to be at least 30% of the total world market, 10 years.

Just my estimate.

Probably never will happen.

it is going to happen. Maybe not in our lifetime

Surely never. :D Nations need to control their eco-system, you can't do that with a decentralized und not replicable currency.

I think it is so far to take the position of fiat by crypto currencies because it is not applicable everywhere fiat has its own importance and crypto is attached to internet there are so many areas in the world where people even don’t know yet crypto currencies but fiat is applicable everywhere in the world and it is impossible for crypto currency to expand itself everywhere in the world.

I think you are trying to say cryptocurrency replacing fiat, because Fiat has been in dominion before crypto. If I'm write, for me I'm not expecting fiat to be totally replaced since it may not be every one that can operate the use of crypto currency. But crypto currency is covering a large range

At the pace that we are heading we the crypto total networth should hit 1 trillion by the end of 2018. One of the CNBC analystict also predicted that bitcoin will be bigger than apple's total net worth within 5 years!

Might not happen or just partially. May not be in our or rather my lifetime too. A rational fastest deduction would be at least another 10 years or so. Society need to start getting use to using digital currency by banks first (which a lot of first world country is trying to move forward to) but I think the resistance is a lot more than we thought.

I guess it will never happen completely. I think they will release digitalized versions of fiat money just with unlimited supply so they can manipulate the price. Fixed supply isn't something elites want at all.

It is true that a possibility of this never happening is quite probable. FIAT currency is an integral part of many of today's society functions so it is not that likely that we will see such fundamental changes in our lifetime. Perhaps in smaller scale examples crypto will be the primary currency of preference but sub scale economies are always more flexible.

I do not think cryptocurrencies will completely replace fiat money, because every country needs a currency that can symbolize an economy, so they can not remove fiat money, the government has allowed banks to use Digital currency to trade, the evolution of a new currency helps fiat money to compete with the cryptocurrencies, although there are still some disadvantages compared to cryptocurrencies but fiat money can compete in the currency market. . From there we can conclude that cryptocurrencies will take a long time for cryptocurrencies to replace fiat money.

If cryptocurrencies continue to grow like they did in past few years I think we might see some mass adoption around 2025 definetly. Banks will probably use it and try to make their own cryptocurrencies, and thats how new currencies will be born, and fiat be forgotten.

Also, we can already witness that more and more money is being untouchable, just a number on computer.

If anything, I believe there is a stronger push to replace fiat with what it was originally supposed to replace: the gold standard. The grand fiat experiment has already run for a while and there are already several detractors who see the problem with fiat and favour a push back to the gold standard.

Although I like the concept of cryptos, I feel that it will always play second fiddle (not literally number 2, but just a figure of speech) to a more dominant and traditional form of value exchange.