Bitcoin Forum

Hi guys is there any chances bitcoin will replace fiat currency.

No No No,
Bitcoin will be our future but it will not replace fiat.
why ? if it want to be a real money in our life aka fiat,it should have physical form.
because it will be used as a form for transaction,
it's totally different if we are using it for our transaction accross the network(digital) because it does not need a physical form.

Bitcoin is not backed nor controlled by any government or financial institution so the answer is no. Anyway, the goal of bitcoin is not to replace fiat currency but become an alternative and free method of payment.

Fiat currency is the oldest means of exchange and it is very important because there're people who hardly can understand the internet procedures. So, fiat currency is easier for them to transact. Moreover, Bitcoin is much more advanced than this. So, I don't think bitcoin would be able to replace fiat currency.

I think bitcoin was created not to replace fiat currency. Digital currencies and fiat currencies are very different, they have their own utility and mutual benefit. I wonder what makes you think about this?

Well, generally I believe this is not possible because the governments wish to exercise control of their currency, so, it cannot happen with cryptos and even more with the centralized ones.
However, my opinion is that it might happen in the future, especially when we speak about countries which support tax evasion called 'tax haven' to use one of them as main currency.
So they would probably let crypto owners to use their bank system, anonymously and untraceable to avoid taxation.

I don't think so, is possible they can coexist but older people have problem to new things and expecially with new tecnology, so I really don't think that crypto will replace fiat

I am not sure about this because we know not all countries are accepting bitcoin as a new currency and I think it will need more years to see this will happen. but this could be possible to happen in the future if the government from each country have agreements about the digital currency and they will accept cryptocurrency as a new currency. and meanwhile, I think we can use bitcoin like what we do now and if this is happening in the future, we are ready to join in the future.

Digital currencies and fiat currencies are very different

This has been asked many times but its not going to replace fiat.
Government loves fiat.
Government that supports bitcoin still will not allow this to happen.
They aren' going to let this happen since bitcoin is volatile and decentralized.

I would say: Not a chance!
First the banks and governments will never let it happen unless they control it.
Second the whole crypto world is so small compare to the world economy, that we are really just a drop in the see.

It does not need to replace fiat currency, but as a digital decentralized currency, since it is decentralized, I think it has high chance of being world currency, the important thing is decentralization.

There is not any chances for that. Bitcoin is a good thing for illegal payments

In my opinion, it will not happen. However, there is real perspective that Bitcoin will become an alternative to other types of money, i.e. fiat, crypto, etc. will exist simultaneously and compete with each other. 

The decentralized nature of Bitcoin is seen as its main advantage over fiat currencies. Bitcoin holders have full control over their finances, with encryption and automation, which are constantly being improved. More and more online stores and large companies are moving towards making Bitcoin payments, and customers are using more transparency and discounts. In general, it is not yet possible to say for sure that cryptocurrency can replace a fiat currency, but in many countries Bitcoin has long been a non-currency-non-grata. Therefore, there are prerequisites.

The majority of regulators and governements said crypto is not suitable to replace the fiat currency or become the primary currency. As said by so many regulators if crypto will be more suitable to become the commodity to store our value. It looks impossible for crypto to replace fiat currency i meant about bitcoin.

True is cant impossible. Im sure with Bitcoin cant replace fiat currency, Bitcoin price up and down very recently and for high volume trading for seller with lost much because dump price on exchanges. Bitcoin have slow transactions comfirmation and high tx fees

This is a pretty shit topic that does not probably draw out any important question. Anyone can f-ing answer that question, of course it's YES, bitcoin and ALTCOINS (this is the altcoin section) is even replacing fiat currency as of the moment.

The better question would be is WHEN will cryptocurrencies replace fiat currencies.

Yes as bitcoin is growing and getting fame around the world I am sure after sometime bitcoin will be accepted as a normal currency around the world and people will start to use it like a normal currency.

I think there is a high chance that it will be like how credit cards are used today. It can be used on large numbers of merchants and will be normal to use, someday. But I do not think it will ever replace fiat. Governments will not allow it, at the very least. And the ease of use of fiat is there. 

You do understand this is 'Altcoin Discussion' section? Unless you consider fiat currencies as altcoins ;)

This question has been asked repeatedly. Fiat currency will never be replaced by cryptocurrency. Why? Because cryptos are unstable and are volatile. They are not meant for buying you groceries and such, they are for investments.

As long as crypto in general is a highly speculative object there is no chance to replace any fiat money with crypto in my opinion. I would't want to pay stuff with my bitcoin or whatever as long as I see a chance to have much more money tomorrow or next week if I keep it.

cryptocurrency has recently appeared in the world. while almost all purchases are for the currency. maybe in the distant future cryptocurrency and replace the currency but I doubt it

For me, it is very hard to replace fiat currency by using bitcoin, because bitcoin is a digital cryptocurrency and can only be used and accessed with the used of internet connections, and without internet connection, we can no longer use and access bitcoin, so for the remote areas it is impossible for them to use and access bitcoin. But if bitcoin implement and make a coin like a real money, maybe it is possible, but as long as bitcoin can only use by internet access it is very impossible to replace fiat currency by bitcoin.

The answer to this question from my own opinion is absolutely no because there is no any physical form of it which we would be spending and the value would remain stagnant if it would be. Infact, BTC is not money but an asset from my opinion.

Why do we need to replace the fiat with crypto currency anyway. The business of government is going good, there is no problem with their traditional financial system for which fiat is at most important things to have. Now, again the question is why do we really need to replace this fiat? Will government allows to do that or in any way will there be scope for this or not? I guess no, because its not needed and that will just create more mess around the world and nothing else. The point is, traditional fiat has not been made with simplicity but complex structure of central to local banking system and thousands of people working behind it. You think that accepting crypto will be as easy as cutting the pie.

I think it is hard to replace fiat currency. It is a long way to go until this will happen. The people are scared of bitcoin and the adoption will take a long, but I think one day more and more people will start to accept bitcoin as a payment method!

I think that there are no such chances for bitcoins and can not be. There are several reasons for this. First of all, bitcoin, like any crypto currency, is too volatile. Moreover, I think that the more its value rises, the greater the amplitude of its price fluctuations. This is evidenced by the December increase in the cost of bitcoin to $ 20,000 and its subsequent fall to a level of about $ 6,000. With this level of volatility, it will be impossible to plan and implement the country's budget, bitcoin will unbalance the economy of any strong state.
In addition, switching to the use of bitcoin as the only means of payment will mean a strong influence of those states in which bitcoin will also be used as money.

I think fiat currencies cannot be phased out. Physical currencies are very much needed which cryptos arent, yet. Also, cryptocurrencies still have some shortcomings (transaction speed, in-palpability, transaction fees etc.) which make it incomparable to fiat currencies and except these and many more are worked on, cryptocurrencies will not replace fiat currencies.

I think bitcoin will not replace the fiat currency. Bitcoin does not aim that way, bitcoin becomes an alternative payment method with internet network.

In theory , it is possible for bitcoin to replace fiat currencies in a very long term perspectives and with absolute support from all mankind , but most likely it will not happen . Fiat currencies are regulated and issued by governmetns and thats the way how they make their global business , they will not give way to somewhat they can't totally control to replace it . Now , everything moving to cryptocurrency recognition as securities and I'm not satisfied with it .

How on earth it is possible to replace fiat currency by bitcoin, we can use bitcoin in international trade and hopefully we will see a time when we use bitcoin to trade on a global scale ten years from now, replacing fiat currencies around the globe is not a possibility as you cannot have every country having the same economic situation, we need both system to prevail in tandem .

I agree with you completely. The extreme volatility of Bitcoin is the primary reason why crypto will never replace FIAT. Personally, I have faced hassles on multiple occasions while making online transactions through Bitcoin. I don't think crypto will ever replace FIAT, but Bitcoin will serve as an alternative payment method. With upcoming features like the integration of lightning network, mass segwit adoption etc, more and more people will utilize Bitcoin as an alternate payment option.

it is difficult for bitcoin to replace the flat currency, because first it is difficult for parents or people who do not really understand the internet, second if bitcoin replaces the flat currency then the local money from the country will be destroyed and difficult to set the exchange rate, the third bitcoin is easy to use transactions long distance but difficult or it will be long if we buy in a small shop. bitcoin opportunity for me to replace the flat currency has not been there but bitcoin development is needed by people who use the internet for business

For me Fiat currency can not be replaced with cripto currency. because bitcoin only aims for payment. if it can be a bitcoin to replace the currency of Fiat certainly the government will rethink or review again. even if it happens many people do not know how to pay in bitcoin. let alone parents who are blind to the internet.

There is no global financial management that limits or increases the number of Bitcoins available, unlike conventional currencies, which can be managed by central banks. There is less uncertainty associated with this, since Bitcoin can not be used to control inflation or economic growth. Perhaps we are on the threshold of something very great and important. But while not everyone is ready for this, and if they are ready, we can face very great difficulties in the process of fighting for a change in the world monetary system.

maybe there is a chance but I think not just bitcoin but all cryptocurrency can replace in fiat currency, it will happen in the next generation I guess.

In my opinion, it is not possible in near future that bitcoin replace fiat currency as bitcoin is not available and accessible everywhere because it is a digital currency and it can be accessed through internet only. If there is no internet where you want to use bitcoin then it has no value but fiat currency has its full value every where.

I think that he has all the chances of becoming an international currency for the whole world

Has no chance. Many do not trust her. Many because of age or something else can not handle it. In our world, all products are tied for currency. in general, if ever this happens, it will not be soon.

It can not replace fiat, the government does not allow that to happen. Because they can't control it, i think btc is considered an asset to collect tães.

This isn't possible, it can only resonate for each other to coexist. It's like the gold market, but here's about the financial technology

I do not think it will happen, bitcoin replaces fiat money, fiat currency will still exist because behind the fiat money there is government, and that will make fiat money still exist.

Chance? We are here to do that  ;D of course it can otherwise there will not be that much interest around BTC, I think that chances that happen is already more than 50% and it will be world wide accepted by 2020.

The possibility for this to happen is huge that we can possibly see it sooner a few years from now. Most of the big companies from different fields now are looking into how they can use the blockchain technology to benefit from it and I think this will drive that possibility sooner than we expect.

My answer will always be NO because the use of Bitcoin require educative knowledge which not everyone has, also the volatility of bitcoin to money is scary, no one can boldly predict the future price of Bitcoin which also make it not to be compared with money. So there is NO any chance of cryptos replacing fiat currencies.

I think in this HighTech generation, it's possible. People are engaging and learning more about digital currency or cryptocurrency. So if bitcoin will continue to rise and they're more interested to get in, then fiat currencies are no longer needed.

I have always say this and believe in its possibility that one day we are all gonna see this happen. I believe in Blockchain technology as the future, thus, it is very much possible for crypto to replace Fiat currencies.

No, this can not be! This is not necessary! Each has its own function !!!

I don't think it is possible for any country to choose a coin that they cannot control to become the legal tender of their country, which can only be counted as a means of circulation. That would bring disaster, which is obvious.

There is possibilty but it will takes times like years because majority of the whole world population are poor in which they have already very convenient to use the fiat money that even the children can use it instantly unlike Bitcoin currency in which not all people know how to use it and its need the power of internet on every transactions in which also an issue because internet is very limited to explore the whole world specially in poor countries.

I guess no chance at all. bitcoin is far different from crypto. they have different qualities and functions.. Bitcoin will remain the number one crypto but replacing fiat like money we can easily get from our pocket or wallet is very far from reality.

Its very hard to know but we know that soon it will happen... The Bitcoin will gain its popularity and soon every country will recognize it...  Especially now that every country are adopting it...  It is part of modernization we can't escape from it...  Its part of the changes... Soon everyone will adopt it to survive....

better if not, but it is good that virtual money exist.  Our fiat money right from the  start are being controlled and its value are stable thus was easy to manage and controllable while virtual money came in different and unstable price, but, its good that bitcoin exist because its a source of extra income

 :) :) :) :) :)

For me, theres no chances that bitcoin will replace fiat currency. Because not all our transaction that we made needs intern8 connections. We all know that bitcoin dominates the world of crypto currencies but it again it cannot replace the fiat money.

not now, the government is not ready yet to use cryptocurrency and they need to prepare many things before the cryptocurrency is accepted as a new currency. but I have optimistic to see the cryptocurrency to be used in our life and the chances is wide open for cryptocurrency especially if one country is success to applied cryptocurrency in their daily life. maybe in the future, after everything is set it up, cryptocurrency can work together with fiat and not replace fiat currency.

Bitcoin will use as a alternative payment method but it could not replace the Fiat currency. Because Bitcoin will not used without internet and also it is not able to use on small shops for buying goods.
And the second thing is that, all countries of world not agreed to make Bitcoin legal and there is no possibility that all countries can not adopt Bitcoin as there country currency.

it's hard to say it will happen. because even today people prefer to hold bitcoin and make it an investment asset and it is likely they will continue to hold until the price actually goes up and makes a profit. while for daily transactions, keep using a fiat currency.

I think the same. Because if BTC replace fiat - BTC will be fiat)