Bitcoin Forum

With today's technology, it is not impossible that Bitcoin will take its reign to be the major fiat currency in most country. What do you think?

I think as of now, because not everyone has access to Bitcoin and bitcoin transactions, we will not see it take over fiat for a while. With bitcoin, every person will need some form of device that allows for transacting money. A lot of the population is in rural areas, are poor, and may not even have access to things like electronic devices. For now, fiat offers a simple, well accepted currency based on a country. If we can get to the point where everyone has an electronic device or that every government provides it, then only will I see it possible for bitcoin to take over.

I think the bitcoins is already started to spread in all parts of world which makes most demand for it and it causes the rapid increase in the bitcoin price recently,so i hope the soon the bitcoin will replace most of the fiat currency and bitcoin will be the king of currency world.

I don't think it can take over fiat system. However, they can used blockchain to improved fiat support especially in banking transactions. And I don't think that a country will used bitcoin as replacement to cash countries need to transaction to the universal currency which is dollar. So its gonna be hard for a nation to used bitcoin so not a chance that it will be like that in the future. What other nations should do is to support bitcoin, so together with fiat it will be a good balance, in my opinion.

I really agree with you. but in reality it will be very difficult to happen, although today is the digital era but not everyone can feel and be involved in it. out there are still many people who do not know the technology as you say.

I don't see that bitcoin will overcome fiat. Bitcoin is far away different into fiat, bitcoin is a digital currency and it is hard to make it as fiat since the price of a bitcoin is really unpredictable. I don't think it is good to make it fiat, people will make a lot of confusion using it because of its price, we all know that the price of a bitcoin is not fix so maybe it is still good to have our own fiat and bitcoin will remain as digital currency.

Anything is possible but mostly not all of our wishes can come true. Sure, Bitcoin can be that major force which is independent from the control and influence of the government but Bitcoin (being made by man) has not yet reached the level where it can be serving millions of people at the fast and efficient speed...there are still so many things that must be done about though it is slow in making changes partly because it is decentralized. There is no need to be overly optimistic about Bitcoin because it is evolving right now albeit not in a speed which can be classified as revolutionary.

Bitcoin will not be the primary currency of any country. It is absolutely accurate. The government has no control this and that it will never become true.

I dont think like you. in fact there are still many people who dont use the internet. perhaps for the bitcoin virtual currency is the king, but not to be the world's currency.

it's a very good idea if the government makes bitcoin currency as the main currency, but I think it's impossible if bitcoin is used as the main currency in a country because for bitcoin access we need internet network and its equipment, and not all places can for access it.

i don't think OP had replacing fiat in mind.
in any case i do believe that bitcoin can become a big currency and something that is used by many pretty soon as payments. specially in countries like Japan which have adopted bitcoin and removed taxes on bitcoin payments. that is more than enough incentive for anyone to start using bitcoin instead of fiat (like credit cards for example) and pay even less taxes. and shops are already accepting bitcoin over in Japan.

For now this is just mere speculation. Bitcoin is spreading but we can't tell for sure if it will reign over other currencies completely. Even if it will , it will take a very long time with much challenge from companies

I agree but in reality that's OP because there's a lot of currency not only bitcoin but we don't know if will happen

Bitcoin is the future of this world, there are many people who think that it is “Virtual money” but it’s not. It was made by the expense of machinery, electricity fee, human and the algorithms and un-distroyable. Althought you do not like it but global are accepting it and realize. Government can not stop Bitcoin