Bitcoin Forum

as we all know, bitcoin today was so popular and many people around the world invest and earn for it, but will these lead to became the new form of money and will our paper will be phased out?

Topic: Will Bitcoin affect Banks in the future?  (https://bitcointalk.org/index.php?topic=2461138.0)
Topic: Will bitcoin replace exist fiat? (https://bitcointalk.org/index.php?topic=2375143.0)
Topic: Do you believe that digital currencies will replace Fiat? (https://bitcointalk.org/index.php?topic=2227350.0)
Topic: Do You Think Bitcoin Will Replace Dollar Soon? (https://bitcointalk.org/index.php?topic=1137697.0)
Topic: Do you think bitcoin will used as National Currency on 2026? (https://bitcointalk.org/index.php?topic=1364628.0)

Store of value?

Or transaction currency?

Or something more, leveraging smart contracts and decentralized infrastructure?

To become a major currency in the world it may be very hard to be a paper money, because we understand that not everyone understands bitcoin currencies and in every country also has its own currency.

for now if talking about the removal or replacement of currency bills with bitcoin, I think it is still far from the possibility. but I believe someday bitcoin will be more valuable and not just a mere investment.
with the good innovation technology of bitcoin, it will provide a definite support for bitcoin to be legal and become a currency that is valid throughout the country.

Maybe not bitcoin, but the technology behind it (A.K.A. Blockchain) will be. Because the math and cryptology behind it are just perfect for this.

As you can see, much banks start using blockchain technology for lot of reasons, the best thing about it is the data base system behind it. each transaction building the blocks who build the blockchain, the idea is just to perfect to let it go. And we already apply it and already see it works, so, it will rule the money until a better idea come.

The popularity of bitcoin will make bitcoin price keep on rising but to make bitcoin aa our currency and take over all fiat will be hard to achieve. First, bitcoin supply is limited, after some period of time there will be no supply and what will bitcoin become?
Of course price will raise but how can bitcoin distributed for everyone? Second thing, do you even think about the government how are they going to do if there is no paper money?

I do not think that bitcoin will ever become the main form of money. The digital currency is most likely to be used only as one of the types and forms of money and will only go in parallel with conventional money. Digital money has many of its drawbacks for their use in everyday life for small purchases.

Totally, i think that humanity will switch to digital currency in next 50 years, but i'm sure that this currency will not be bitcoin. The main reasons: high fees, slow speed.

However we should keep in mind that Bitcoin has 8 decimal places, it's not only about 21 million BTCs

I think the main won't become, a lot of time in addition is necessary that from the market there were world currencies. And technologies of other alkoin too worthy and every day take root as payment systems into various shops, services and other... Of course can be, but not this century!

Why should Fiat money suddenly be replaced? People should consider that Bitcoin is digital and not everyone in the world has access to the internet or devices to access it. A lot of people are also uneducated and will not be able to use these devices.

Bitcoin and other Crypto currencies will have to become a lot more user-friendly, before we could reach a stage where Fiat can be replaced by these technologies. I see a gradual progression to a stage where people in first world countries will go 100% paperless, but it is going to take a lot more time.

I believe that Bitcoin will gain the recognition as a major player in the fund transfer/payment gateway industry in the coming years and it will also compete the traditional volume of fiat currency on most of the platforms but it won't be the primary form of payment in any way because there will be the people who will keep using fiat currencies irrespective of the disadvantages and the number of fiat users is huge so I don't see above mentioned scenario in at least next 10 to 15 years.

There will be more than one dominant cryptocurrency.

Bitcoin = store of value

Ethereum = smart contracts

Monero = dark net money

Another coin (doge, steem?) = currency

There could be a chance for bitcoin to become the most valuable currency in the world but it will stay as a digital currency but would not be the primary form of money in the future. Bitcoin will still dominate all the cryptocurrencies in the market and I don't see any currency at the moment to replace bitcoin.
My thoughts on this, I think any nation would have wanted their currency to excel and will be use as the major currency in the world just like the USD, EURO and Pounds.

hopefully so in the near future. But sadly, as long as bitcoin's high volatility rate still goes on I am afraid bitcoin would nefer see tge light of the currency market. It's high volatility rate which brings about sudden price changes is the primary reason bitcoin couldn't be considered a currency as if now. Unless people make solutions to get rid of this, we would have to stick around with bitcoin being an asset of investment.

BTC is bound to dominate at some point, tht's inevitable, but completely replacing and facing out fiat is a a long shot considering that not everyone has the technological requirements to access BTC, and its forms of payments. It could be secondary forms of payment like credit cards, preferred by a certain group of people. But totally facing out fiat will be quit a challenge

of course!

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I don't think that bitcoin will ever replace fiat, however Inthink bitcoin can serve as an investment and another option for financial transaction. Btc have unstable value sonI don't think it can rule an the finance and exchanges of an economy.

yes it could be, but bitcoin still has many defieciency such as the transaction speed is not stable (relatively take a long time) also the fees is too high right now

I don’t think decentralized cryptocurrencies will become a primary money source but they will be a payment method as well as serve many other functions as well.

Paper money will probably be phased out but governments are going to have their own official government run digital currency as they adapt to this new environment.

Decentralized cryptocurrencies will have their place but they won’t replace government controlled money.

The biggest impact of bitcoin on the existing monetary system is discipline. Now that paper money can be superimposed indefinitely, the greed for paper money will not be restricted, and the restraint of human greed will require discipline.

It seems like the topic already discussed several times and I think it will be answered as not by majority of repliers.
In short, it was already known by people in this forum that it is good to have bitcoin in future and becomes our new means of exchange but until it is impossible to eliminate fiat currency in our world.

This is hard to imagine mainly because the prices are not stable. Especially for low priced items, such a payment system is not practical.

No, paper money is still needed almost all over the world for a very long time. Traditional markets still need real exchange tools like paper money. virtual currency will be very long to receive all levels of society. what else in life in asia. so, I do not think bitcoin can replace paper currency.

Bitcoin has the power to develop so much that it will dominate and it will be an international payment method for everyone

No country in their right mind will totally discard their national currency and choose to adopt Bitcoin as it's only form of currency even though i believe that Bitcoin will be there for a very long time, I don't believe that it will become the primary form of currency in the future.

never will, and that is impossible.
bitcoin will never replace the banknotes we currently use, because bitcoin is not effective when be used as a payment currency.
it's about the transaction fee, and the time for delivery confirmation. and 21 million bitcoins can not be shared for the whole world. impossible  :P lol

There's a posibility that it will happen most especially lots of people know, used and invest in bitcoin. Bitcoin will replace our fiat money into digital money. Online transactions will takes place, banks will soon to closed. We can control our money through our mobiles and bitcoin will soon to be the first currency used around the world.

of course bitcoin has potential to  became the primary form of money in the future  because  many countries accept it  as  a transaction money it make the transactions easy and fast  and very soon it replaced the banks.

That is the ideal goal, for cryptocurrency to take over or act as a fully viable alternative to regular currency.

i suppose so because the technology behind it is so revolutionary and so far no one has been able to hack it , one thing is for sure miners will definitely be around because even countries that have said they will ban bitcoins have said that they are interested in looking into the blockchain technology and once you have blockchain you are gonna need the miners as both go hand in hand.