Bitcoin Forum

By what year will we switch to Bitcoin? Is it possible in your opinion?

I think bitcoin for now is a speculative instrument and we won't switch into using bitcoin as main currency anytime soon. In fact, I don't think that bitcoin would ever replace the current fiat systems, governments would not surely allow it and many doesn't like decentralized things. It won't stay as a speculative instrument forever though. It will surely be used someday as an alternative way to pay others for their services.

Dont hope too much since this thing you are trying to say here is really somehow an impossible thing to happen on where we do make transition fully from local fiat to bitcoin. We do know the differences among the two which is mainly a centralized to a decentralized stuff.Even how bitcoin do progress or being adopted it wont really come to a point that it can replace fully on fiat.I do really strongly believe on that thing and we should only expect on the field which it can utilize its full usage or benefits.

I think that this is a global reform, followed by great changes.

It's a speculative instrument. There are too few coins and too many people on earth for it to be used as a currency.

My feeling is that it will be used as digital gold to store money, and another cryptocurrency will emerge as an actual currency that people use. Which one that will be is anyone's guess. That's the whole fun of crypto investing - you just never know.

Yes, you are right, bitcoins are few, but we still have a "comma".Satoshi is a lot.

And i don't really feel the need to switch entirely to btc. Some fiat features will be hard for crypto to accommodate if that were to happen. And it will be a lot more beneficial for us if we have options. One for real transactions and one for digital and perhaps there may be others that can come after bitcoin.

When it's so easy that your Grandma could buy a bread in the local store.
E.G. not in next 15-20 years. The world is not only 20-30y hypsers, using laptops/smartphones 24/7.

Depends on each country you live in. Japan and Australia have now accepted Bitcoin in the purchase and sale of goods. So we see Bitcoin gradually replacing cash. But for the whole world to accept Bitcoin as a tool, a common measure of value. This may take a few decades to happen. According to my opinion.

I don't think all country will switch into bitcoin. I think only those who are accepting and regulating bitcoin can make bitcoin as their currency. But for a third world country like our country. I don't think we can use bitcoin as a currency.

I am to your idea too. It is far difficult when our current fiat system will be replaced by bitcoin. Aside from government disapproval it is not easy especially in a very wide population and it might not so applicable to some activities that involve money transactions. But it might not stay a speculative instrument since there are also activities involving money transactions in which bitcoin could be used like paying bills, salaries and other applicable transactions.