Bitcoin Forum

Listen to this episode of the BitcoinNews radio show. We discuss how fiat currency is going to inevitably collapse due to debt and money printing, and we strongly advocate using Bitcoin since it’s the best alternative to fiat.

https://anchor.fm/bitcoinnewscom/episodes/Bitcoin-News-Radio-Show--14th-August-2018-e212tc

Also read... Will Bitcoin Accelerate the End of Fiat Currency?

Bitcoin has worldwide infrastructure and demand, giving it value anywhere you are on Earth. It is a solid alternative to fiat currency with a fixed supply, so it won’t ever be devalued by money printing. There is no central organization leveraging Bitcoin to pay for budget deficits, unlike all the fiat currencies.

The mere fact that Bitcoin is a true alternative to fiat currency may very well accelerate the worldwide collapse of fiat currency some economists have predicted, including the US dollar.

Full in-depth analysis https://bitcoinnews.com/will-bitcoin-accelerate-the-end-of-fiat-currency/

Bitcoin Is Better Than Gold

Ultimately, if fiat currency collapses it is clear that Bitcoin is in a much better position to become the top global currency, due to Bitcoin’s advantageous characteristics. This makes Bitcoin much more ideal for international commerce and finance than gold.

Read more at https://bitcoinnews.com/bitcoin-is-better-than-gold/

I think the articles and radio show explain perfectly how Bitcoin will be the dominant currency in the future, and are good to show to people so they understand why Bitcoin is so important.

Listened to the full show and to be honest I cannot agree with everything you guys have discussed. Though there were some good insights regarding the current crypto market and how fiat is lagging behind in terms of features that are being offered by BTC but the who discussion sounded like some overly enthusiastic kids got their hands on their first Bitcoin and now they want to conquer the world with it.

That is a really great show for any crypto enthusiast who is still skeptic about the future of cryptos right at this moment. Though I thought cryptos had the power to become a substitute for fiat currency but after listening to such in depth discussion now I am starting to believe that replacing fiat currency is now just a matter of time.

it's amazing to me this is very good news for bitcoin people. it is more secure and reliable. this show are clear any confusion about this bitcoin. i think it will make more profit and do good something. thank you for sharing this link.

from some point yes but I think that bitcoin is not the main argument of the collapse of Fiat. the world financial system itself is already self-sufficient...

As long as there are countries there'll be governments and as long as there are governments there'll be money they control. It's not going to change.

Even if crypto became huge, governments will still pay out and demand payment in their local currency. There may come a time where people grumble about having to find an exchange to convert their crypto to pay their tax bill, but that tax bill will always be in fiat.

yes you are right and it is very good news for crypto people. it will be more secure and potential. its future are more bright. it will do something good. it is more reliable and trusted.

Cryptocurrency will never take over fiat, this will never happen!
What do you think about the poor man in the street that has never used or see any electronic gadget before.

What do you think about the poor beggar in the street that is looking for penny to fill his stomach?

The use of cryptocurrency is limited to those that are into the digital world only.

I have an old woman at home that can read and also doesn't understand English very well, how do you expect people like this to understand Crypto?

Bitcoin is more secure and potential. it will be very good sign for bitcoin. it is more profitable and probable. its future are very good. it will make more profit in future and its increasing price. it will turn around.

It is accelerating, but not too much i think. End of fiat currency means peoples using other currency and not using fiat currency anymore.
Currently, the usage of bitcoin as a currency is still occasional. Cryptocurrency still need to be used globally, So it is still long way to end of fiat.

Bitcoin was not created to replace the national money of each state, but as an alternative to them, as the best supplement, and not as a replacement for them. Bitcoin and other decentralized crypto currency can only go in parallel with the national paper money of various states and will not replace them in the foreseeable future. This is a very profound error. While there will be states, there will be public money that will serve the state economy. The Crypto currency is divorced from the economies of all countries and has nothing to do with them, therefore it is not able to replace conventional national money.

bitcoin will not replace fiat currency. I think it's too early if you talk about it. need a very long process of perfection. and it seems that focusing on current market prices is better, than talking too far!

Just like fiat bitcoin is not the one which is using by every person in the world and bitcoin is technical currency which  can be useful for a very limited people of the world or the business community traders can  use it for a good way and not in a single day it will rule over the fiat but for this decades will be needed then may be we can say that bitcoin will challenge fiat in the world.

it is not going to happen. for years people have been talking about the fiat doom and it has never happened and it is simply because fiat is being used even if there is debt and all that it will affect the country and the value of that certain fiat not the whole world's fiat currencies and it will definitely not kill fiat!
bitcoin's growth is just going to be an additional currency that is introduced and used by many people eventually. it doesn't have to replace anything, and it was never meant to replace fiat anyways.

Before that will happen then Bitcoin must become world currency replacing fiat in which i think it is very impossible to happen as we all knows that not all people can be able to use Bitcoin so how Bitcoin could accelerate to end the fiat currency? If they want Bitcoin to end fiat then they should address the various issues of Bitcoin like delayed blockchain transaction, fees, education of the people and the price volatility.

While I think that there will be an "end of fiat currency" eventually, I don't think that most of us will live at this moment (well, if there are no drastic advances in medicine or cryonics ;)  ).

First, there is not one, but many fiat currencies. Some currencies collapse, like the Venezuelan Bolívar now, or the Argentine Austral in 1990, or Zimbabwe some years ago. But generally the problems are related to local weaknesses, like an increasing demand for foreign currency and a total loss of confidence by the local central bank.

Second, fiat is flexible. Central banks can do a lot of things as long as there is confidence in the "real economy" of a country or region. Quantitative easing in the Euro area, for example, didn't bring higher inflation as many had wished or feared (depending on their ideology). A fiat currency could even be organized like a cryptocurrency or backed by it (look at Venezuela for a first, very dilettante "try" in this direction), if all other intents to save its value proposition fail.

What Bitcoin can do is to reduce fiat's importance. It can be a real alternative. But it won't touch fiat's value proposal - central banks would simply have to lower the money supply. That could be accompanied by trouble in the traditional banking system, but that would not let tumble a currency as a whole if the central banks are prepared and acting professionally. I expect that in 20 years, thanks to Bitcoin and other cryptos the traditional banking sector's importance will have been drastically reduced. They will concentrate mainly in risk management.

Conclusion: The crypto community can reduce fiat's importance, but that wouldn't happen by a "magic" event like a "fiat collapse". Crypto advocates themselves must take action and establish Bitcoin as a currency.

Decentralized crypto currency can not replace fiat. Crypto-currency should not yet set such an objective, and in my opinion, it never had such an aim. This topic is too hot.
All states are interested in preserving their national money and will never decide under any circumstances to replace them with a decentralized crypto currency. Decentralized crypto currency can be so far only additional, alternative to national money, they must complement each other's capabilities, and not replace each other.

As long as there are governments with the ability to create money from thin air, you will have fiat currencies. The only way for them to migrate to a crypto currency substitute for fiat, would be if they control all the nodes in the network and all the development of the code in the protocol.

If they get that, then they will control the coin supply and also the amount of coins and the consensus to enforce these decisions and we call those coins, GovCoins.  ::)

I don't think so! Come to think of it, what will they use to buy Bitcoin if Fiat Currency will end? Aside from that, fiat currency has been circulating in the community ever since civilizations were developed. Bitcoin will only make it easier to remit money and transaction. It will co-exist with the fiat currency.

There are a lot of beliefs and perspectives that bitcoin will be the alternative currency to fiat currency in the future. Well, it easily to say that but we need to admit that it's very hard to implementing that or maybe if that is possible for sure it will takes much more years to do that because for now we known that there are some peoples all over the world that has no literally knowledge about this system until now and others are already knowledgeable to it but they can't afford to deal to it or to involved to it because of their poor life of living. However, there's a big chances that bitcoin will be very successful in the future maybe it's only needed more years to be a global currency because there's probably a lot of things that is needed to considered before implementing it.

Fiat currencies will still be used in every country, and bitcoin will not replace fiat money, many of which contradict this, especially the government that feels loss if bitcoin can be present in its country. Bitcoin cannot be controlled by the government and will not be able to make it fiat money.
Bitcoin remains a digital currency that has many benefits and will continue to grow for the advancement of internet technology.

Thanks for sharing this article with us. It helps me a lot. It discuss perfectly that this currency dominant perfectly in future. I it’s more important that people are understand that bitcoin is so valuable.

Of course, over time, the usual currency will give way to electronic currency. This is a normal evolution of the currency.

Honestly, I have been imagining how possible it is for the whole world to have a single currency. That aside, we confuse virtual money to real cash. It is not possible for everyone to be comfortable with virtual money. Bitcoin is very useful in fast peer to peer payments. That has come to stay, but to take over fiat is a tall dream.

For me it's only quick for bitcoin to speed up fiat money because bitcoin makes the way to speed up the fiat money and to improve the human capital for bitcoin and fix everything for fiat

Eradicating fiat currencies is a process which commenced years ago but I believe it is still going to take a long time for fiat currency to eventually vanish because cryptocurrency awareness and adoption will have to spread across the whole wide world, after which this can happen.

Yes, important thing. Of course, I believe Bitcoin is now passing fiat currency in many ways and will do it in the future. There will be a time when bitcoin will be used beside fiat currency as well as trading.

I absolutely agree with you. Currency Fiat does not eradicate. Firstly, not everyone can afford to invest their cash in the Cryptocurrency. Secondly, not every person on earth knows that there is a cryptocurrency and how it is applied. Thirdly, even those who know about the cryptocurrency, not everyone trusts it. Well, the state will not give up its currency.

Difficult to change this. Every country has a governing government, Fiat is separate and Fiat is a common currency. While BTC is a new electronic coin, I'm not sure what you say can happen.

if there will be no change, fiat will collapse indeed. It's just not sustainable. If they will try to bring the systems back to real reserves where the fiat is pegged to some commodities like gold, it might not happen

bitcoin is good but it cannot replace fiat. why the need to end fiat if the two can coexist together? fiat and bitcoin have advantages and disadvantages it would be good if they can be alternative to each other.

I think this topic has been discussed by experts, it is true that in the discussion bitcoin was raised rather than fiat money. but in my opinion, the fact that fiat money is always favored by the public, because it cannot use Bitcoin if there is no fiat money. I think nothing is possible in the crypto world, maybe someday bitcoin will be the currency used by the public.

This is an excellent motivational information for those who are discouraged because of the fall of the cryptocurrency market. Nevertheless, it is still too early to talk about any prospects for replacing the fiat currencies.

Bitcoin become dominant currency if the all people know about cryptocurrency under the new technology
I strong believe bitcoin become donimant in the near future but need to count more years to introduce in the world.
And government in the world adopt bitcoin as legal tender that the sign for fiat end.

Unfortunately, FIAT will be always there and there is no any cryptocurrency that will replace it. That can happen in centuries, but in this decade, I don’t think that Bitcoin will end with fiat

I think it will be in a very far future, now and in the near future Bitcoin can not topple the flat, because the real world is not smart enough to fully trade it. You only think of rich and modern countries, why do not you think of poor and backward countries? Changing the whole deal using virtual currency makes flat money fall sharply and what will the poor people use to buy food?
In short, it will be in the distant future, at least 2050.

Yes, it is true than bitcoin has some adventurous characteristics than fiat currency and also there is a high possibility that fiat currency can be replaced by bitcoin if bitcoin continue its condition like this in the future.

It will, in some countries. But the thing is, developing nations still want to maintain fiat currency due to the limitation of their internet infrastructure.

It is very difficult to eliminate fiat currencies, because not everyone understands technology, while the use of bitcoin as a currency is still occasional. and when Bitcoin is generally accepted in various countries, fiat currencies will still exist and they will side by side not overthrow each other.

If bitcoin will replace fiat currency I don't really believe it, because the price of bitcoin is very unstable and it's very risky to make the economy unstable if bitcoin falls.

Yes, I think Bitcoin is the best alternative of a fiat currency. However, it is not very easy but it is not impossible. Hopefully we will reach that level in the future.

Bitcoin was not created to replace the national money of each state, but as an alternative to them, as the best supplement, and not as a substitute for them. Bitcoin and other decentralized crypto currencies can only be aligned with national banknotes from various states and will not replace them in the future.

As time goes by and as crypto little by little being known or exposed to the world, people now are putting their fiat money into cryptocurrency and this could really accelerate the end of fiat currency, but I think that the government would not easily let that happen because government always backs the fiat money and as we know that cryptocurrency is decentralized.

No, fiat currencies will not disappear. That wasn't even the idea of crypto concept. They are here to be a kind of alternative to fiat currencies and some other option available based on a different technology.
But no country will give up their national currency and besides cryptocurrency can't be mainstream and serve as a pillar in economies for many different reasons.

Bitcoin has a great future ahead. I hope that someday it will run side by side with Fiat money. It doesn't need to be backed up by gold as it already holds a great value. It is the future to the digital transaction system of the world.

If you change the fiat currency, then any other currency can have a worldwide impact, but it is Bitcoin. Bitcoin has a whole worldwide framework where you will be able to trade from any part of the world.

This will be a rather very difficult thing for Bitcoin to do. It cannot end the existence of fiat. How does Bitcoin intend to do this? No country or government will be willing to give up its fiat currency for Bitcoin.

No bitcoin or crypto for that matter won't make fiat disappear, but it could be a good alternatives. Just look at how Venezuelan's adopt crypto because its fiat has been hyperinflated. Even Japan, who embraced bitcoin is not discounting their Yen. And as long as there are government and central banks, fiat will exist. There might be cashless society in the future but it doesn't mean that fiat will be totally eliminated and out of the picture.

Bitcoins can contribute to the reduction and under reliance on fiat currency but to collapse it is seemingly impossible. Lets not forget about the fact dealing with bitcoins and other cryptos is only possible at the presence of internet connection. We still have people with little or no knowledge in the internet, let alone talking about blockchain and other technical words.

BTC earn it's popularity because of being decentralized and transection fee less. If by BTC people can pay anywhere and can buy anything then it will be totally replace the fiat.

Global domination by bitcoin and other cryptos is inevitable. All we are waiting for is a successful transition by venezuela to prove that it can be done, then other countries will follow. Once the petro is accepted globally for trading oil, the price of all crypto will rise.

But wasn’t bitcoin designed to be a virtual currency? It’s decentralized feature alone, will solve many issues in payment, transactions and ownership. I heard it really is the future goal for us to have an alternative currency, anyway. A virtual currency is safer and more efficient. Plus, don’t you think it’s more convenient to go cashless?

In my honest opinion I think the elite have created Bitcoin and made us all believe we did it.  In the end they will have the perfect tax tracking device and to anyone looking we did it all to ourselves!

no
if an asset can beat fiat, then gold should have beaten it earlier than bitcoin. we must be able to see the difference between a valid and approved state transaction tool, and a valid asset or barter tool. fiat is a state identity and economic condition, how the economy grows because everything is also calculated from the fiat exchange rate on the currencies of other countries. whereas bitcoin cannot do that.

Unfortunately I think the fiat currency is here to stay.  I do not know why the central bankers would give up this power.  I thin they are going to try to regulate Bitcoin to a slow death.  I don't think it will work. 

Bitcoin fans do not completely lose faith in the institutions created by mankind. They just do not choose to believe that humans can keep their promises. According to Satoshi Nakamoto, who or a group of people believed to have created Bitcoin, pointed out "the core issue of the currency is that people are forced to believe that it can work."

That's not to idolize Bitcoin. High likelihood is that Bitcoin can never be used as a money to buy meat on the market because of its wildness, but Bitcoin can be a valuable asset for later sale.

I honestly don't think that bitcoin is going to completely replace fiat currency.

Even if governments decide that they want to support cryptocurrencies, they will only support those that allow them direct control over the economy. For example, we can already see this with the Venezuelan national cryptocurrency of Petro.

The advantages of bitcoin over fiat and even gold is quite obvious in my opinion, and everyone knows that. It's just that the governments and the central banks will simply be unwilling to give up such degree of control over the economy. Bitcoin will probably be the dominant global currency in the future for e-commerce and store of value, but individual fiat currencies will still exist imo.

Last day I forget to carry my wallet when I am going to my office. At middle of my destination I remembar that and then I feel that I need to drink a cup of coffee but I haven't my wallet. Then I think if i able to pay for coffee by BTC it will be more helpful for me and then I not need to carry my wallet which contains fiat.

For sure, there will be no the end of Fiat. Blockchain just gives better technology to count the e-money in our world system. There so much imagination about that, but everything will be the same, but with blockchain.

I believe that cryptocurrencies will co-exist with the fiat currencies a few years from now, but once the crypto dominance gets to a crazy rate, the logical and cost efficient way for governments will be to dump the fiats and focus entirely on new technologies. ;)

Many people still hold traditional banking system which provide fiat and they still not take the digital currency as common currency. If it able to take their interest on it by improve and adopting some factor then it will be able to replace fiat totally.

I think that in any case has long begun that the money goes to the electronic version, cash has already been canceled in some countries, why then do not do it more transparently through crypto

the fiat currency was not much known before now as the level of transactions on fiat was much fewer and it was not as pronounced as it is now, the bitcoin and cryptocurrency trading only made it become known now and i believe it will still be around for quite a long time.

Seems pretty unlikely that it is going to really replace it. They both have advantages and disadvantages. With a free flowing liquid market between both instruments, there's really no reason they can't coexist.

Until now fiat currency will not be able to escape with its problems, namely debt and printing costs which are expensive (still confidential) which's greatly influenced by the complexity of the security system applied to the money itself. When referring to Satoshi's vision and mission, the purpose of creating bitcoin is to correct the deficiencies in fiat currency, where each transaction can be carried out in a peer-to-peer manner, while at the same time cutting the costs of third parties. The creation of bitcoin's limited which's only 21 million pieces, so it has a volatile value like the price of gold.

Bitcoin is a strong currecy it can accelerate the end of fiat currency I believe that hope It will reach a better position than before.

I think that depends on the enthusiasm of the world demand for bitcoin, if the spread of bitcoin and accepted by the world quickly , then the end of fiat currency will end quickly.

and I analyze that now slowly bitcoin is beginning to spread benefits to some of the public.

I think today the development of bitcoin is still slow, and there are still many problems that must be resolved by bitcoin, so that it will make bitcoin difficult to developed.

bitcoin is believed to end fiat currency, but we still see a lot of people using fiat, even slow technology development is their main problem.

I accept the fact that Bitcoin is a real alternative to the fiat currency. In fact, central banks and governments will not want to leave their money authority, but money will ultimately evolve into cryptocurrency.

I know that it ain't happening. Crypto is not made to kill anything. It might dominate the other currencies but fiat will still exist. Fiat favors the needy and poor people so there is no point of killing it because we kill the only means of transactions of the poor.

We all know that all the crypto currencies exists in virtual form and being digital in form, it is more like by millions of people around the world and people love this virtual nature of these crypto currencies and this is the most important reason why there are millions of investors investing in crypto currencies and its virtual form is the reason why these crypto currencies transactions are the most secure and the confidential one and no doubt these crypto currencies will eliminate the use of Fiat currency.

Bitcoin and other decentralized crypto currency can not significantly affect the national currency, especially since it can not replace it or in any way accelerate its fall. The usual currency will still exist forever, since it is connected with the economy of the country, the Crypto currency exists by itself and does not have a binding to the economy of any state. Decentralized crypto currency and the national currency can only walk in parallel with each other.

Governments want something controllable, I think even if the fiat bomb bursts there will always be something else other than btc or cryptocurrency.

Bitcoin is a form of virtual currency and being digital in nature, it has been accepted by millions of people around the world and moreover the transactions of bitcoin are the most secure and the confidential one as it transactions does not involve any third party seizure as no third person can see the transaction between the two and moreover its transactions are provide the user anonymity so there are many advantages that it is more liked by the people in comparison to Fiat currency so yes bitcoin could be the threat to all the Fiat currencies available in the market.

Yes, this could well happen. If bitcoin will gain enough popularity, many people will give preference in favor of bitcoin (or the arcs of crypto-currencies). Therefore, yes, it is quite possible that such a scenario might occur that sooner or later the crypto-currencies will send today's paper money into the past.

Quite agree with some of the views but bitcoin can not put an end to fiat currencies.  It can only replace it to a large extent, some countries will rather stay fait and not go fully digital, moreover what is the fate of the common man that knows nothing about internet not to talk of digital currency.

bitcoin's growth will only be an additional currency that is introduced and used by many people in the end. no need to change anything, and it was never intended to replace fiat.

Cryptocurrencies especially Bitcoin were not created to replace fiat. They are even meant to be pee-to-peer currencies unlike fiats.  Do not forget that fiats exist in digital form, so they can actually be programmed to do what Bitcoin does.
If the use of bittorent did not stop the use of controlled alternatives why would Bitcoin stop the use of fiats? I am really not in support of the destruction of fiat. They can all exist side by side.

Of course not! Bitcoin will never replace the fiat currency because:
1.Bitcoin can just be used for value storage instead of being the fiat currency due to it’s great price fluctuation.
2.Bitcoin has no credit endorsement, while the mone we use now is endorsed by the whole country. How could we use bitcoin as the fiat currency which lack of stability and trust.

Not the goal of Bitcoin to end the performance of fiat, Bitcoin and Altcoin currencies can only be parallel to national banknotes from various states and will not replace them in the future. This is a very deep mistake. so what I know is that Bitcoin and Altcoin are alternatives to their transactions.

Fiat currency will not end in my opinion, but enthusiasts of the crypto currency will continue to increase and does not mean ending the fiat currency of a country