Bitcoin Forum

How long do you predict it will take for the day-to-day volume of crypto assets to surpass that of fiat currencies?

IF the blockchain succeeds, I wouldn't expect to see a potential flippening to happen before 2025-2030. The current level of real world usage for the blockchain is very similar to that of Graphene - "Graphene can do just about anything, except leave the lab".

To use some analogy, Graphene and the Blockchain tech can both do a lot of wonderful things - both are wonder technologies with extremely high potential applications. With both Graphene and Crypto currencies, we know that the underlying potential is huge. However, the challenges are also there. First, you have to come up with a way to use these properties for beneficial applications. Then, you have to scale fast enough while keeping it low cost, which so far hasn't been the case for most cryptos including bitcoin(tx fees,scaling issues) or graphene(high costs for large scale productions).

Even though none of us currently use crypto for day-to-day purchases, the market cap is very high - which is all due to pure speculation, or what I would call, emerging market value. It’s the market that determines ubiquity or obscurity of technology, and it does not care how a technology works; it cares about what problems that technology solves.

If the blockchain tech succeeds in solving the issues facing fiat currencies both physical and digital, one thing is certain. The market cap will grow hundredfold, and it's going to imitate the stock market as a device for transferring money from the impatient to the patient. So HODL :)

There won't be any date for that to happen because there won't be any governments wanting Bitcoin. This is not that big when government money is concerned.

Governments wanting Bitcoin will become a moot point if Bitcoin becomes too big and international trades start taking place in Bitcoin. If Bitcoin becomes a kind of reserve currency, then of course governments will want to hoard it. Already, we have seen countries which have been forced out of the international monetary system (like North Korea) looking to take advantage of the decentralized nature of Bitcoin.

First, I am not really good in giving cryptocurrency predictions, or atleast prediction yet what I can gave are some subjectives of mine, a wild guess will do. Well I guess, and believe that bitcoin cpuld go into a high rise after encountering its vice versa on its value. We just have to wait when and what matters maybe the reason to occur suh stuff.

Never. Even if cryptocurrencies succeed on every possible metric, fiat currency markets will likely always be larger than crypto markets; if only due to the wider availability of fiat currencies for the general populace. Think about it -- even if the crypto market were as large as the stock market, the trading volume of fiat / crypto currency pairs would count toward the day-to-day volume of both crypto assets and fiat. So unless traditional stocks and bonds get more trades in crypto than in fiat, fiat will always be a step ahead.



"Blockchain the technology" is more often than not a term devoid of meaning, approaching vague problems with undefined solutions; so naturally this platonic ideal of a technology falls apart upon closer inspection.

Cryptocurrencies, a concrete application of blockchains, have left the lab a long time ago. And they are facing real world adversaries over and over again.

Exactly, I know that blockchain is here to stay and it will happen soon enough. I'm glad you somehow make an analogy about Graphene and the blockchain tech, and it will certainly bring many opportunities in today's technology. I have been eyeing a lot of projects/companies that have been adapting it. This project (https://tecracoin.io/?utm_source=tclx) have done scientific research that shows, the graphene foam obtained by their Science Team and it shows great potential in its application in high power lighting devices excited by microwave techniques. These devices are characterized by emission efficiency that allows them to be applied in street lighting or lighting large areas such as sports halls. It's really amazing how far we've come and I'm glad we keep evolving for the betterment of our society!

Giving positive predictions about the market also shows that we're being optimistic and positive towards the future of cryptocurrency.
The adoption of cryptocurrency by the government would take time because for now, they are actually against it but cryptocurrency is currently getting better each day and it's a positive thing. It's also changing the economic situation in its own way so I'm sure that better days in crypto are coming.

The "Fiat Flippening" is a pipe dream at this moment, because Bitcoin without the Lightning Network will not be able to scale to reach that level. The Lightning Network is still in it's baby shoes and highly experimental, so the kinks still needs to be sorted out before the scaling issues could be resolved.  ::)

I just know when this happens, most of us can stop working and go on early retirement, because the impact on the price will be huge!  ;)

BTC is 10 years old and accounts for less than 0.01% of all purchases.

So at the current rate about 5000 years.

True. Some people are way too optimistic in this aspect. So many people think that the LN is fully functional and adoption rates will suddenly increase just like that which is why they need to do their research.

I am happy that the Neutrino protocol related to LN will help speed up the development of LN soon and more and more people are using segwit addresses which is another good sign.

People say by 2020 we will all be using bitcoin as a payment system. Really? In my opinion, it is doubtful. bitcoin is good for trading them, but as a serving coin there are more successful altcoin units. What do you think?

I noticed Graphene. But I didn't quite understand. What did you mean by the similarity between Graphene and Blockchain? And what exactly is this Graphene?

I would not dismiss large service companies that run their token. for example, paypal, instagram, microsoft. I had a little time to earn extra money when writing forecasts on the taklimakan. and I do not plan to sell tokens just for bitcoin. trader's portfolio must be balanced

If we talk only about payment systems, maybe I will believe that bitcoin will be faster than classic visa transactions. if we say that it alone will command the market, I doubt it.

Graphene is another carbon form or carbon fiber composed of one layer of carbon atoms and arranged in a honeycomb lattice. This is a new technology in the chemical industry that is now on the rise. Graphene is also called magical material.
The first application of graphene will be used to replace indium selenide in solar cells and there are still many other uses of graphene. This material and technology is relatively new and is now receiving great attention from researchers, just like the blockchain (The same in new technology but different fields).
This Link will explain the Graphene generally: https://en.wikipedia.org/wiki/Graphene

I don't think that LN could change the entire situation of Bitcoin. I believe that it has a big impact yet if we'll look back in the history of Bitcoin, we could all see that it moved on its own way despite different influences along the way. If larger businesses and online companies would accept bitcoin, that's the best influence that could bring bitcoin into a better place.

I think it'll be lmat impossible to see Bitcoin surpass the daily fiat volume across all the different daily payment mediums that exist. PayPal alone dwarfs Bitcoin and I don't think that, without substantial growth, that the Bitcoin community will be able to grow past that. You also need to have a vibrant economy that can encourage the transactions, and Bitcoin is currently limited in that respect. It used to be pretty big before with big-box retailers accepting Bitcoin, but it has shrunk somewhat. A lot of the transactions come from casino users and smaller shops to my knowledge. If Amazon-lites like Newegg and Overstock rekindle their interest in Bitcoin, we could see a daily volume flip in the future, but there is still a ton of growth to go through. 2025-2030 may be too early to see that growth occur.

That is already inprogress. Many companies are implementing their private blockchain to make their business in one stream security procotal and then to tighten up their security gateway and information.
If the bitcoin is being accepted in Russia, China and UK.

I am sure definetely world market will seriously give big attention to the bitcoin and crypto marketplace.

Have you realized how funny your question is looking at the answers above? Bitcoin is very new type of currency. Its market capitalization is just ridiculous, this is why I think it is very undervalued and I invest in btc.

This analogy with Graphene is awesome
 And sad... Graphene is better than a lot of things, but is is also very expensive. The thing is to find what use blockchain could have that is not only better than Fiat, but also cheaper.

Maybe one day people will realize how expensive banks and government are. And they will chose to take care of their money

first of all you are confusing "blockchain technology" with "cryptocurrency", secondly your analogy is off the mark.
what you said is like being in 20-30 years ago and when the first computers came out ask whether there will be any "digital" currency or digital banking using computers versus asking whether someday everyone would use YOUR bank.
with that said, the blockchain technology has a high chance of being adopted by the whole banking system and the "money" as we know it today which is partly physical (cash) and partly digital (the banking system, credit cards, online payments,...) will change its form to crypto-currency but that doesn't mean "A cryptocurrency" is going to be the one coin they all use. it is just money changing its form.

My prediction about cryptocurrency bitcoin and altcoin will be more profitable at the future with raised to higher price, by many companies have accepted bitcoin I think right now is the best moment for us to invest in bitcoin and altcoin.

This absence of authority to regulate Bitcoin (and other Cryptocurrency) is expected to eliminate unnecessary costs such as those currently in force in the world financial system. These costs are considered as things that burden many people and make the economic system ineffective.

Even if their price does not go up greatly, the demand in the cryptocurrencies will be great. With the development of blockchain, people start to understand they need Bitcoin and altcoins.

I think you're asking when the fiat jubilee will arrive.  The nature of the Jubiliee is that it can't be predicted.  It will seem far off and impossible for longer than you think possible, then it will arrive more suddenly than you thought possible.  When debts are almost all valued in a fiat unit, and that unit becomes worthless, those debts are effectively forgiven.  From a subjective standpoint this couldn't come soon enough, however your 2030 estimate might be reasonable.  To be prepared for the worst, consider that it might take until 2040 or even longer. 
 

It will probabily never surprass... The money is constantly being made while Crypto mining becomes less and lesser by day due to halvings and everything else related to specific algorithms.
Unless Crypto production amount becomes > money / fiat production amount i am not seeing how much Crypto could "beat" fiat amounts.

It's really hard to predict or say specific year since we never know how fast the adoption can happens and its limit. Even though great mass adoption may happen, of course it has its own limitations. Some government may legalized crypto but I bet, they won't let crypto to surpass fiat. But let's not remove the possibility it might happen, but I think it will take a lot of time before it can happen