Bitcoin Forum

The European Parliament’s Committee on Economic and Monetary Affairs (ECON) has come up with a report on cryptocurrency entitled “Virtual currencies and central bank’s monetary policy: challenges ahead”. The finding of reports shows that cryptocurrency will not replace fiat currency, even in the long term. https://bit.ly/2NeLgLr

Well this is a fact but they have missed something very important and that is a government owned cryptocurrency. A fiat currency in digital form, a government cryptocurrency using the blockchain system. Though they may not foresee it but time will come that peoples mindset will also evolve even the way they will view a currency and thus the new generation of politicians will establish such feat.

Crypto can't replace fiat because it is leaps and bounds above fiat money.  Fiat money has a centralized authority that can print more money digitally with a click of a button or physically.  With true cryptocurrency like bitcoin  everything is guided by math.  We know the exact inflation rates, total supply, etc.  I wouldn't take advice from the government as they stand to lose a lot from fiat money being overtake.

Im okay with crypto never completely replace fiat. Crypto will continue to be stronger, while at the same time fiat will becoming weaker, then they will print more fiat which will depreciate it more. People that are in crypto now will be extremely rich, and i have a sense that the people that involved in crypto now have a better view of how they want the world to look like in the future!

Well, as for my own opinion, I also didn't think that the crypto currency will be able to permanently remove or overtake the fiat money. Well, government will not approve of this. I can sense that maybe in the near future those country that don't recognize crypto currency may allow it but they will not allow crypto to take over. Because we all know that most crypto currencies like Bitcoin is decentralize and the government will not be able to control it.

Well it's true, crypto cannot replace fiat at least not anytime soon, people have faith in fiat and some how holding a piece of paper in their pocket make them more comfortable then holding digits in their online wallets

i don't think the intention was ever to replace fiat! fiat can always exist and bitcoin can always exist alongside it as a strong global and decentralized currency. it is like saying USD will never replace JPY! that is obvious! they fulfill different roles.

ps. post the direct link there is no reason for shorting it!

I don't disagree with that assessment. I've always though of Bitcoin as an alternative that everyone could use, not something that everyone should use. I don't think Satoshi ever envisioned it as a global replacement either, given his white paper's goal of eliminating third party processors and the fees that come with them. It also has to be noted that the economic system will need a complete overhaul for cryptos to take over because it simply won't work otherwise.

Fiat is better in some cases, and cryptos are better in some cases. They can serve as complementary pieces to each other and I believe they will in the future.

We dont even need to read any suggestions or need to know about what the economic committee says about it because the most simplest fact is, crypto currencies are volatile, they are not designed for the purpose of replacing the fiat curries but they are meant for the easier peer to peer transaction with at most security and safety of funds. That was all about the creation of blockchain and the bitcoin currency. If you look at it with that vision then yes everything is hot success in the crypto world BUT now if you want go and envision the replacement of fiat with it, then surely it will fail.  :)

Well, in my opinion, cryptocurrency can never really replace fiat. why? Because fiat is a traditional money and all people are used to it and also for sure the government will against to it. Maybe we can use cryptocurren y just like other currency existing in the market today and that has potential or way that many people could used it legally. I believe Cryptocurrency will be successful in the near future we will claimed it.

Well, I think the result of their theory is still unripe and it is too early to conclude that cryptocurrency will not replace flat currency in the future.  If we trace the history of money, during their time nobody expects that gold with truly intrinsic value will gonna replaced by paper money as a mode of the transaction but it does, and it happens and everybody is using it now.  In relation with this, maybe during our time, researches and studies might results that money will never be replaced by cryptocurrency in the future but as the time goes by and technology continue to grow, it is no doubt that it is still possible that cryptocurrency will replace flat.

cryptocurrency cannot replace fiat but it can also be alternative to fiat. if we can use fiat and crypto at the same time it would be best.

For me no problem Cryptocurrency can not replace the important FIat Crypto can generate profits for me.
The news reported that they feared cryptocurrency would impede the monopoly of the central bank, that's all they always feared. competition does make people do any way to win.

I definitely think that the different crypto currencies and even Bitcoin will not be able to replace the fiat currencies. Why? Because I definitely guess that the government will not be able to approve it most especially that crpyto currencies are decentralized like Bitcoin. But I can see that as the time goes by, the crypto currency communit will become more popular.

It will not replace it, because cryptocurrency is better than paper money in principle. In fact, no reports can give an accurate forecast and therefore there is no point in taking them into account. This is only a forecast.

the EU won't be around when this happens, which doesn't say much considering how it's cracking apart already.
the fiat system lost it's real purpose when it deattached from the gold standard! surely there'll be a replacement, maybe not crypto(why not?) but something..

There is no guarantee 100%, but digital money is only suitable for online payments! Cash is always needed for social development!
Bitcoin and altcoin will be considered currencies. Need more time!

Than electronic money Is Visa or MasterCard a better cryptocurrency?

The EU authorities are stupid and fearful, so they do not recognize bitcoin

As what i am believing that theres no need for replacements,because even in the future we will be needing paper bills for transaction,because the world will always rely on electricity and upon this there will be a need for offline transaction anf in this way fiats would be the material to use.

So this is true,that fiats will remain forever with crypto

It is a thing that is happening right now and we will never know what will happen in the future.
Supposedly when a technology progresses then digitization is the best option.
With the digitization of currency then everything will be much better.
Yes that the government is still afraid, they are afraid of the movement of digital currency that is still uncontrolled with stable,

Central banks will not want to concede control to independent crypto if for no other reason than they lose the ability to control the money supply. Right now if a central bank thinks the economy is too hot - they will restrict supply, and increase supply when they think the economy is slow. Thats not easily possible in crypto.

The cryptocurrency revolution is like a giant boulder rolling down a steep hill... The governments cannot stop it.
It will hit them especially where they least expect it... when they least expect it. hehehehe.

So long as the masses embrace it... What can governments do?
Governments are run by people and people love cryptos... eventually every one will own a crypto coin, even government officials. hahahaha!

Of course, it is advantageous for the government to say that crypto-currencies will never replace fiat money, but we know that this is not true. The technology of blockchain and crypto currency market is still young. I am sure that in 10 years we will pay with the crypto currency everywhere.

I don't think crypto will replace fiat as well but both will co-exist and be supplementary to each other. Not everyone in our society can use cryptocurrency because of its nature and so replacing it completely wouldn't be possible

1. Remove the shortener link and just give the link alone.
2. Why are they worrying if crypto's will replace fiat? are they coming up to that idea that one day it's possible?

It's likely what they are saying.

These days, bitcoin transactions have become relatively more expensive (due to the high amount of transaction volumes in the network), however, they are more secure due to the complicated math algorithms behind the blockchain technology (which also makes them faster than fiat money transactions). Bitcoin is also better than cash, because it’s decentralized, and there is no speculative central authority institution or bank behind it.

They mean not bitcoin but crypto made by the government. I think crypto made by big companies will not even be able to compete in the market, let alone replace bitcoin as the foundation of crypto money and the global currency of the future.
It takes a lot of fans to become a global currency as well as a truly sophisticated technology, lots of altcoins are popping up but only bitcoins can survive and dominate the market. And Satosi's dream of making bitcoin a global payment tool is not impossible because there are now many places in different countries willing to accept bitcoin as a means of payment.

Well before the induction of every major technology the same argument has been put forward but as history is testament new technologies will take over and the old one's will have to go it's just a matter of when and not if.every major breakthrough takes time but eventually it succeeds.

As long as governments of the nations want to remain relevant, mean Fiat would continue to be in existence but that does not mean crypto currency spread over the world. I think the existence of Fiat make cryptocurrency more natural than artificial.

It is undoubtedly true but what if the government decides to go into crytocurrency? So crytocurrency not replacing fiat even in the long term is not something that is predictable, times will definitely change as we delve into the future, so we never can tell what the government will decide to do. One thing i know is that crytocurrency is unpredictable, anything can happen.

Well here is the thing man, how come you are waiting for cryptocurrency to replace fiat, and at the same time most cryptocurrency holders are just holding cryptos with the aim to make more fiat nothing else, I read a lot into early days of BTC people had one goal and aiming to only increase there BTC holdings when you compare this with what we have today, you will find that people are just buying BTC/any other cryptocurrency not because they believe in them but because they hope that they will make them more fiat . If fiat is  the final goal most people aiming to, then cryptocurrency simply have no chance to replace fiat because cryptocurrency turned into a tool to obtain more fiat, which is just sad .  

I dont expect cryptocurrency to replace fiat also. Not only considering the diverse environment factor that has not favoured the internet. Paypal has not and some other exchange units. Crypto is more of an asset most especially bitcoin, which can always hold its value base on demand. More so is the crowdfund purpose, raising different and supporting lots of innovations that will change the world and empower visions.

If citizens want to use Bitcoin, the European Parliament is out of line. They cannot decide what the people want, they cannot force people not to use the crypto. Bitcoin was created to be free of all institutions, including them. In other words, their opinion is not necessary, it is up to them to follow the trend the citizens are concerned.
Bitcoin is still in its early stage, they can't know the future and guess its developement

Crypto replaces the fiat is not something that crypto users want. The better is crypto and fiat running side by side. All have advantages and disadvantages. Will complement each other. No need to eliminate each other. This is not desirable.

Bitcoin is totally digital currency and fiat currency is moral less physical currency. If bitcoin does not replace fiat currency, there is no harm for bitcoin. And we are not worried about that. We just want to be the main gateway of online payment system where crypto currency and fiat currency stay parallel. Every foreign transaction will settle through crypto currency. People will attracted to bitcoin because they will feel freedom to use it. I think time will come when no fiat or physical money will exist. Only digital currency will exist and all transaction will settle through digital currency.

cryptocurrencies can never replace fiat currency; i can possibly agree to this assertion for the time been, then again there is need for us to understand that change is a constant thing and the world is evolving rapidly so with time that possibility of replacing fiat currency can be possible.

yes, i quite agree with that. each country have their own fiat, so it is a little bit hard to replace it.

The meaning is not bitcoin, but a coin made by the government. No altcoin can be a global currency except bitcoin. Bitcoin still leads and even no coins made by government or large companies can survive in markets like bitcoin.

But this is clear, if governments lose control over money they lose control over taxes and people's lives. What will happen is that the cryptos are treated as assets / commodities, it is not all the uses of Blockchain that want to replace the money, there are several projects with other purposes, the focus is the decentralization.

You just said the truth, cryptocurrency will no way replace fiat currency. A lot of traders and investors think bitcoins and alternative currencies will be able to replace fiat currency.

Fiat is something beyond innovation. It is all about the the historical existence, and the same has got the support of government. Bitcoin doesn't have the historical survival, it is all about the innovation. If this has got support from government same as fiat now bitcoin could have reached next level of growth and usage.

For now, i think crypto cannot change the fiat but in the future, nobody knows what will happen because of the advantage of technology.

Interesting! Not the report, not the conclusion, but the fact that they actually feel the need to write a report on this subject! That can only mean crypto is something they fear is going to be very big!

I guess the conclusion was set up front, as I can't imagine they would publish the report if the conclusion would be for crypto to overtake fiat.

The EU said this in the beginning of the year and said they shall conduct a review and well, I think that's why they're saying Cryptos are not a threat to the fiat. Anyways, my hope is that they don't put strict regulations on cryptos.

Cryptocurrency is in the early age, it may be too early to predictvif it will be a replacement to FIAT. But in the real fact, if cryptocurrency is going to replace FIAT it is not going to be total replacement because there are still some functions FIAT serves that cryptocurrency can't.

Lets face the fact. The arrival of the mobile phones did not completely eliminate the landlines. The White house still use landlines,, so does the Kremlin and the Knesset. other nations still use it. The mobile phones and land lines complement each other.
The bitcoin will complement the fiat and just as the mobile phones have taken a major share of the telecommunications market so will crypto. Forget it, in the next 10 years the fiat strength will further reduce and likely diminish by a good fraction.

Why should cryptocurrency replace fiat if they can both coexist at the same time? We all know that it is far from happening. It is because cryptocurrencies are not stable when it comes to price which will be hard for people to use it as a currency. But if a government will create its own cryptocurrency it will either be backed by a commodity or the local fiat currency to be more stable so there is still no chance of replacing it.

States will never agree that a decentralized crypto currency will replace their national money. Even their own centralized crypto currency is also unlikely to replace fiat, most likely all these types of crypto currency will only go along with national paper money. Decentralized crypto currency can not be controlled by the state and is very volatile in price. These two factors will never allow any state to agree to replace this crypto currency with its own money. Apart from these, there are other factors of economic and political plan as to why this can not happen.

It is fair enough I can accept and agree on that because cryptocurrencies the way they are right now can not replace the fiat,  they need to be changed and regulated, become more stable.

I also think the same way but only for all existing cryptocurrency that is not issued by any government cannot replace fiat, while I think that there are chances that fiat currency can be replaced by a cryptocurrency made by the government but should more likely work as an alternative. The reason why cryptocurrencies like Bitcoin might not have a chance to replace fiat is because of decentralization and the highly volatile price, and we all know that governments wants to control everything especially when it comes to money. Btw why is the link of your source should be shortened? lol

if we have a look at the evolution of money we clearly can see that things said once that are impossible to be achieved are used today like paying with only smartphones or cards, so never say never.

Yes crypto currencies have their own limitations of being able to work only online,limited supply,not being supported by governments,etc.Most of the crypto currencies would be used as a pump and dump coin and bitcoin might get used as a payment currency but only to some extent.

no one knows how the future crypto currency. because it could be that the crypto currency replaces some of the famous currencies as you say euro. we can see from the price of the worthless bitcoin to be expensive as it is today. which we need only time whether the crypto currency will replace multiple currencies or not.

i thinkit is too early to say what can happen. cryptocurrencies are still young and we just have too see what lies in the future.

As far I know, bitcoin created not for replacing fiat money. Bitcoin created system to disrupt banking system. Fiat currency must be still exist in next few years because for some peoples its more convenience and more flexible.
But i am believe in many years to comes, peoples will using bitcoin for their transaction because its more safe and its peer to peer transaction

This is a tough move to show that Europe is still afraid of Bitcoin. Bitcoin or Cryptocurrencies want to do something special maybe for a very long time to be able to see

If they think about this and say it all the time, it means that it frightens them and means that all the same, crypto currency can replace fiat money. In my opinion, they just want to convince people that this is not possible.

They are right crypto cannot replace fiat money because for official transaction only fiat money will be used for international transaction. Let us look at this scenario where there is international transaction between two countries and one is crypto compliance and the other is not. The only way forward is fiat money.

I am not agree with this as the cryptocurrency is growing so fast. So it is truly possible that it can be the money of the future.

Can’t we all just get along? Why is there a need for something working to be replaced? Bitcoin and fiat money can coexist. Period.

It is true that crypto money will not replace fiat money, but what they say is not bitcoin but the crypto made by the government uses a blockchain system.
If thousands of altcoins made by big companies can not be sold in the market and have no fans, what is the fate of altcoins made by governments that are full of rules and tax payments? Does not that sound more complicated? While bitcoin creates freedom without giving any rules to its users. Do you think the government-made altcoins will work in the market and can replace bitcoin as a means of payment?

Well, you can't carry cryptocurrency in your pocket like dollar, so technically it can't replace fiat currency, but online usage of it has been growing rapidly over the past one year or two and it is also getting very popular.

It is 100% truth that cryptocurrency can not replace fiat, reason being that fiat is a legal tender of each country and can be use to purchase any goods in d market but crypto currency can not be use to purchase goods in all market except selected market and those market can only be a market that specifically accept crypto currency.

if the crypto currency still has a fluctuating value, I think that too. will not be able to replace fiat currency. it's not funny when someone buys a item with crypto currency ,, and after some time the price goes up because crypto currency goes up. I think this is one of the reasons crypto currency can not change the fiat currency. because most people see the crypto currency as a commodity. not currency. unless there is a regulation on the determination of the value of crypto currency. it can be thought of.

yeah, some people thought barter was great, and lastly, gold coiners never believed that people will accept parchment/paper money rejecting gold and silver :)

they can because they are more secure and faster. These days, bitcoin transactions have become relatively more expensive (due to the high amount of transaction volumes in the network), however, they are more secure due to the complicated math algorithms behind the blockchain technology (which also makes them faster than fiat money transactions). Bitcoin is also better than cash, because it’s decentralized, and there is no speculative central authority institution or bank behind it.

In the current scenario and until a decade from now, I believe that crypto currency can not replace Fiat currency since crypto currency is still on the process of tuning up for a better innovation. In as much as many people would love to make it happen, I believe it will be Fiat money to dominate in the world currency but I am still optimistic that btc has that chance but not for now.

Ok Ok... There are limited chances to have cryptocurrency replace fiat. I dont see it happening soon but it can happen. The world at large is moving towards a digital age. more and more means to ease operations will definitely replace the usual ones. Cant be surprised if the crypto surpasses fiat too. The government will have to really ensure that not to happen but it can happen

I am not disagreeing for a virtual currency that has a desenteralized system to replace the fiat currency, but we do have to see the conditions if it will never happen. Unless all users are aware of and receive the characteristic price of cryptocurrency is volatile. This weakness must be accepted if cryptocurrency is focused on the payment system.

no one can predict what will happen in the future, especially with tools such as virtual currency transactions. Crypto can be one of the most powerful alternatives in the turn of all transactions in the world. but it will take a long time, even over the next few decades.

If we are going to implement the current system of bitcoin and shifting to this kind of payment, the world is relatively immature to handle such technology. Some  underdeveloped and developing countries find it very difficult to implement and advance their technology since their priorities focus on different aspects. Shifting into a digitalized form of currency would render significantly large implications as it would be costly to some.
The world is still in its embryonic stage wherein adapting this kind of system may be beneficial to the rich but chaotic to the poor countries. The economic discrepancies between developed and underdeveloped countries pose as the greatest obstacle in the development of this ideal payment.

I believe that in the future where countries would slowly shift into the digitalized world, currencies would change from the conventional fiat to the digitalized ones (can be bitcoin or can be powered by the blockchain).

Cryptocurrency will not completely replace FIAT but to some extent there are some transaction that are better done using cryptocurrency and in that aspect is where the replacement  comes in.

There is no problem for me personally that Bitcoin will never replace the fiat rather than broken on the initial draft planning that was previously wanted to be made as a legitimate means of payment when it happened then I think there is a conflict between the bank and the government, in the present position I think quite comfortable absence conflict between banks and so on, not too wise to compete with fiat.

I think so. Cryptocurrency will never replace fiat. Even cryptocurrency will become popular. Lets face the fact, that not all people can use it.

Seemingly, this report just acknowledged the existing state of affairs - cryptocurrency is not able to replace fiat money just because of the tradition that established hundreds of years ago.
Crypto can be just an additional method of payment unless it is widespread among all the social groups (which could happen in at least 3-5 years).

What for to replace.I think  country needs to have his own currency
National money is root of independence it is enough to look on countries what are using euro
Italian central bank is in fact in Frankfurt what is this .Italian gov  and Italian people would decide how to manage his money not some aliens in Frankfurt
It is only creating slavery and through manipulation there is possible to influence other country economy.Very dangerous idea
Fact is that crypto money already exist and crypto money are in use .It is similar like that coca leafs are used like a currency in Bolivia and cigarettes are money in prison.

that report is yet another report about nothing.Just to write someting about nothing to translate report on 28 languages and spend some  tax payers money
So i think it is nothing to talk about.In that case hand of market decide

 

In general its this. Governments will always keep their FIAT, even to just trade among nations.
But in general Crypto could become a Peer to Peer more strong, since it could prevent inflation. distribute resources more fairly.

The sources that say it will never will are from banks and govt. Just there to create fud and keep people away from Crypto. When in fact it could be a major solution to many situations over a long time

Well I respect the report, But the current situation is not saying so. There is a high chance of replacing fiat by crypto, since people are now preferring crypto more than fiat. However, I think future will reflect the truth. Though fiat is something extra-ordinary for its longer run in the market.

Definitely it won't be that easy for crypto to replace fiat. It's gonna take a long while though, should such is to happen. Whether we want to believe it or not, fiat and crypto will walk side by side. We need the Fiat to spend in our daily lives.

Well i think the purpose of crypto is not to replace fiat,but to stand along side fiat as means of payment.So there's no point to talk about replacing fiat,but the probability is exist and it's true that maybe crypto will replace fiat in the far off future.

I agree with the report, crypto will never replace fiat but I'm the coming years we might start seeing more crypto adoption. My major problem is the too many cryptocurrencies out there and many coins are still being launched every month.

Honestly I do not get bothered with whether cryptocurrency will replace fiat or not. Only time will tell. This is  a day's job and not only sweet saying. What cryptocurrency and blockchain technology will do is what the world is waiting for. Lets join the train and be part of history.

Will be able;)
Sooner or later it must happen. Crypto currency has a huge amount of advantage over Fiat. Yes, and it is trite to carry paper with dead presidents not so conveniently as digital money. And do not forget about the decentralization, which would simplify the life of almost all people. It remains to be hoped that the future for the centralized

In my opinion, well, even though bitcoin will not be able to defeat the fiat currency it will have a good and bad effect on bitcoin users with their own perspectives. For me, it wil be a good effect on bitcoin because if bitcoin will defeat fiat currency then there is a chance that the government will held the bitcoin and start to regulates the cryptocurrency. So, I think it is better that bitcoin will not surpass in bitcoin in terms of usage, but in terms of price I thinks its bitcoin.

The report on the encrypted currency proposed by the economic and Monetary Affairs Committee of the European Parliament is very correct, because bitcoin has not been combined with state power, which is difficult to become Fiat. Although the encrypted community is expanding, I think bitcoin will become the best alternative to Fiat.

Yes i also think that crypto currency never replace fiat currency because it still doesn't able to gain the trust of people. And cryptocurrency are not a globally accepted currency. It is still not clear to many people and it is too complicated to understand. Many government ban cryptocurrency in their country because cryptocurrency badly influence their economy and financial growth. Cryptocurrency are volatile in nature and it is one of the biggest behind this topic. Cryptocurrency are decentralised so if any thing wrong happen no one take responsibility of this.

And who cares about that? just wait for a little bit more and then you are going to see it replacing it, but it wil ltake more than a few years to be honest.
Maybe we are going to need to wait for more than months to see it happening, it is not something easy to see

The way I see it, crypto currency is not replace fiat but to work alongside it. Just like credit cards and bank transfers work along side cash.

I don’t really think the plan for cryptocurrency was to replace fiat, rather is to mitigate some areas and create new and simpler payments options. This has worked out so far and fait can continue to dominate physical payments while cryptocurrency continues to dominate digital payments and physical payments too( when need be ).

Cryptocurrency cannot replace the fiat not a problem for us. Users of cryptocurrencies do not allow it. Anyway, this is not the purpose of created cryptocurrencies. Fiat is the currency of a State. The state must have a centralized currency. It should.

I agree with this point for that situation. I think fait will be alive for a long time because many people in the world don't believe in crypto and its perspective. It is very simple to understand them. It is their own opinion for the future.

Cryptocurrencies are suffered from many shortcomings including its intrinsic characteristics like anonymity. Transactions not requring personal information advantage criminals in illegal activities. In short, there's no way that virtual money will be an alternative for fiat money.

Digital currency is borderless and untraceable, meaning tax losses. And government will never accept that to happen. I think that's one of the reason why they don't wanna replace their national currency.

Digital currency is complicated to control. In case crisis or hyperinflation happens, the Central bank can hardly to offer suitable policies, while it's much easier with fiat money, which is under the central bank's regulation.

 I absolutely agree with European Union Committee, cause cryptocurrencies are absolutely inconvenient for using at this moment.

It is very true and I don't think most of us have even thought of cryptocurrency replacing fiat. Not everyone in our countries have the technical know how to understand cryptocurrency and so to replace fiat with cryptocurrency will mean total doom for such people of which no government would want to do.

Cryptocurrencies Can Never Replace Fiat - It is true and I Think crtyp[to shouldn't do that.  Fiat money is a centralized money, Governments are controlling that money. But Crypto money is a digital and anonymous and the government can't control Cryptocurrencies like bitcoin or other altcoins. Especially I want to see cryptocurrency like this at a higher price. I don't think about crypto under regulation. If crypto goes to under regulations then Crypto will replace the fiat money too. But I don't want to see that

Cryptocurriencies are online currencies and hence are not the same as fiat. Even though both currencies are aimed at the same purpose ie buying and selling, their mode of operations are different. So do not expect crptocurrencies to replace fiat. They would rather work hand in hand.

I don't think crypto was made to replace fiat, a good population of the world are yet to hear about crypto not to talk of understanding what it is and I don't think in the next 10 years it would have spread to every part of the world. Crypto and fiat can co exist.

In my own opinion,  cryptocurrency can never replace fiat currency. Fiat currencies will continue to dominate as long as there are nation states and governments are powerful enough to enforce their laws. Fiat currencies exist because the alternatives, such a gold, ultimately failed to meet the demands of the modern world. Bitcoin is similar to gold, but actually worse in the supply is even more constrained.

Obviously that's true but do not understand stemate the capability of bitcoin as currency because have a change to replace fiat money in the near future 10 to 20 year from are have future development for bitcoin most strong and stable currency.

You are right but one thing that you said which caught my attention is that fiat is a legal tender. What is the meaning of "legal" as used here?
I think if crypto is accepted by governments, then it will be called legal as you used. They are making it look illegal but it is a human who makes things legal or illegal.

Cryptocurrency will probably not completely replace fiat, but does it matter? does credit card replace the fiat? does it affect that credit card become a very popular way of payment?

I believe the main idea for the creation of cryptocurrency was not to come and replace fiat. Cryptocurrency was developed with an idea of making transaction of funds to any part of the world easier, simple and fast. This was developed to create a decentralized ecosystem with no one controlling the amount of funds sent on this ecosystem.

I also believe that cryptocurrency does not intend to replace fiat because they are really different.While crypto is decentralized,fiat currency is a centralized one that is fully controlled by the government.Cryptocurrency is just an alternative form of payment system which by now is only accepted in few market shops unlike fiat currency that is accepted in worldwide stores.

Cryptocurrency is not known by every people in this world. And not all people have gadget and internet access. So i think this are the reason why cryptocurrency will never ever replace fiat.

Cryptocurrency cannot replace fiat currency since not everybody is using it. It will never replace fiat currency. There are a couple of people who are bringing it down. Fiat currency has established it’s roots and is very well backed by different agencies.

Fiat currency is centralized and its operations are strictly regulated by the government but cryptocurrecies are decentralised online money. The aim of crptocurriencies was not to replace fiat money, so do not espect that.

We can't say the future by this time because cryptocurrency started all over the world. Althrough there are some countries banned it but  we can hide that many accept it. That is a good sign for better future with cryptocurrency.

I think it is hard for Bitcoin to convert into fiat money. These two currencies are two opposites with completely different properties and it is difficult for these two to become 1. Bitcoin is free while fiat is under the management and distribution of the state. Then Bitcoin has high intensity and fluctuation intensity and fiat is very stable and grows or drops below 10%

There is limited accessibility when it comes to digital currency hence the reason why it cannot replace fiat currency. Some people would not be able to use it if they have problems even with electricity. Regarding the internet connection though, there are some projects that aims to let the people still use cryptocurrencies without having an internet connection and by using SMS so maybe it would be possible but then if there is no electricity in that place then that would be a problem.


There may be a mass adoption that would happen in the future but still I don't think the government would allow a decentralized cryptocurrency to become a legal tender and if ever the governments would have a consensus in accepting it then it would be accepted as a an alternative payment option and not as a replacement for fiat.

That is a fact for me. Crypto currency cannot replace fiat even in the future. I am a crypto lover but also, I am thinking what is happening in my environment. Crypto can be used in a developed country, but how about a third world country? How about the poor people, can they provide a device and an internet connection? Because crypto transaction can be made thru this.

Well, we have to admit that its true, crypto can never replace fiat. But, on the other side, crypto can be a powerful alternative for our financial life.

I agree with you. It will be a new level of development. But it is very hard to involve it into our life. Government want to sell all the real money in their pockets.

Well we dont need expert advice to know that how shit the current system is and its not going to accept the crypto currencies. To be more or less precise, our system is way lot away from accepting something like bitcoin. They don't want this kind of a good virus to come into their system and take over the fiat. I guess its impossible to take over because there are too many flaws in the bitcoin usage. We know very well it cant handle the transaction properly when it comes to the heavy transfers and stuff. Im sure small example like waiting for your coffee until it gets cold and your transfer becomes successful would be the best to explain this situation.

Well, it is fair enough. I can agree on that the cryptocurrency is the way they are right now cannot replace the fiat, because they are still not stable enough to became a payment method.

I am absolutely right tap Cryptocurrency stand also there must be a comparison or an opponent of sales there purchases.

Cryptocurrency X Fiat
Fiat X Cryptocurrency

Cryptoccurency X Gold
Gold X Cryptoccurency

But if we trade with gold may be long when there is trade between countries, then make digital gold Like Bitcoin and other Altcoins it.

Why not ? Why cryptocurrencies never can replace fiat ? Cryptocurrencies is more convenient and helpful for people to use.

can't replace because cryptocurrency also needs FIAT referrals as price comparison.
if the cryptocurrency is independent, the capitalist value will be small, just like Bitcoin when it costs $ 1 USD.

then the cryptocurrency will continue to run side by side with FIAT and it is the best one on the road.

Yes. I also think cryptocurrency can not replace fiat in the future. both coexist in parallel. crypto and fiat each have advantages and uses in each situation, human needs. And one thing is for sure, governments will not let that happen.

That's true, cryptos are still much complicated to use and they don't provide security that people need, and there are parts in world where mediums to use crypto are not available.