Bitcoin Forum

bitcoin and a number of other digital currencies will one day replace the position of banknotes as a medium of exchange. The reason is that this currency can correct problems that exist in paper currency, and indeed in history, the same thing always happens to new currencies that replace old currencies.

but how do you think ???

Bitcoin has to go a long way to replace the current paper currencies. A lot of development and adaptation is needed for it to reach that point. Hopefully it will come with the solution that we have with our present paper money.

Replacing old currencies? That is not necessary, I guess. Bitcoin may or can be use as the most secure medium of exchange (especially after of every upgrade) but that doesn't mean it will replace fiat or paper currency.

So many people have stated that if bitcoin doesn't even enough on its scalability to process all of the transactions over the world. That needs more development progress and mo improvement through use BIP.
The new revolutionary thing will replace an old thing in the future consider about human needs more and more efficiency

Hopefully this will come with the solutions we have with our current banknotes, but to achieve this, in my opinion it still needs a lot of process and development again for a good future.

digital currency will not replace banknotes or fiat, but more precisely the digital currency will co exist and complement each other with paper currency or fiat.

My dear friend. I think you do not quite understand what you are talking about. Do not confuse sheep with cows. Fiat money, this is one story, bitcoin, this is completely different. Does not interfere with one another, and performs different functions. The fact that central banks will soon have their digital money, this is a fact. Bitcoin and his altcoin servants are now working on it.

Bitcoin is growing into a very popular form of currency. With time we can hopefully see it being used for everyday necessities but the way it is right now it is still in it's early stages and thus we can't say anything for sure how it'll integrate into the use for everyday life. We'll have to wait and see.

Bitcoin is supposed to be the coin of the future, at least or has all potential to be one. But it won't come all in a sudden. Yup, the new idea which remains taboo someday overcomes the old one and become essential, it might happen in case of bitcoin too. Let just time decide.

Bitcoin was not created to replace bank notes or fiat currencies, rather to be an alternative for making transactions. And they can both very well complement each other.

Bitcoin on its own would experience various problems in scalability and would very likely be hijacked by some authority and become partially centralized.

I believe bitcoin needs fiat to thrive.

You say that "bitcoin and a number of other digital currencies will one day replace the position of banknotes as a medium of exchange", but I don't think so. A banknote is the banknote and bitcoin is the bitcoin, they walk on their own way and there will not be anything that will replace the banknote or fiat currency.

And why do you need it? Why don't you like paper money? Of course, replacing it with crypto is a future, but I'm just interested in your positions.

Exactly, there are many problems in paper/physical currency and governments have implememted limitations by many ways on fiat money.
So, people can clearly point out which currency to prefer for their future use and opt bitcoin as their primary currency and this act will gradually replace paper money

That can happen and can also coexist. All have weaknesses and advantages that cover each other, maybe it would be nice if both of them could go hand in hand. It will be better. The development of bitcoin is indeed fast and some people already know it. Just need the right time.

Bitcoin is currently deploying the Lightning network, and I hope it will be successful soon to improve the speed of the transaction. Also I think in the future Bitcoin will become a form of archival property, because of its anonymity and limitation.

Banknotes might not be easy to replace with bitcoin. Bitcoin is volatile; the price is not stable. It is yet to be legalised in most of the country. So it might be while to consider bitcoin as a literal currency.

I believe we'll see the development of Bitcoin soon. Bitcoin will one day replace the position of banknotes as a medium of exchange. Bitcoin will grow higher soon.

I believe that the blockchain will be the future of the economy. You can see that the majority of projects are based on micro systems or merely serve the user's own goals. They focus on exploiting the endless potential of blockchain to serve the people in order to be more positive, effective and safe. Any one technology to "for the people". It will respond.

Ofcourse, you are right government will not give green signal for fait currency straight away. Real currency is one which heads the economy and growth of a country also they have to take the responsibility in tough situations. Like when the value goes down. I guess fiat currency will not be replaced as real  currency.

           At the moment, the bitcoin has many things to improve to replace the current paper coins. If bitcoin replaces paper coins or fiat, it will happen in the distant future. At the moment we have to wait and pray that bitcoin will reach at least the price of December 2017.

For me, the purpose of Bitcoin is not to replace the banknotes of the fiat. It was made to be a digital currency that can be used over the Internet. and in case that Bitcoin will be a daily necessity for the people, it will still have a lot of discussions before it replaces fiat.

Why have you posted it here? Isn't it deserved to be posted on bitcoin discussion? However, I think BTC will be a core currency in near future and there will be no fiat currency but before that, there should be some more changes and development.

Hi, I think that you are right, soon cryptocurrency will replace paper money. in some countries this can happen in 5 years, and in some countries 30 years.

I don't think bitcoin will replace fiat, bitcoin and fiat have different functions and both run together and side by side and won't interfere with each other. Bitcoin development is very good so bitcoin has more fantasy value.

with such volatility, hardly until they replace nothing. The only option is the stable coin. at the same time that Fiat would go into non-existence, you need access to the Internet for everyone anywhere in the world, and the elderly do not need this innovation

Yeah I agree with you. Blockchain is the new era technology and will bring very new things in our lives. Bitcoin is the future currency of the world and I think that when people use bitcoin as their regular currency all other currencies will be eliminated from the market. Bitcoin will take over the market and it is good because the whole world will use only bitcoin in the markets.

It’s needed a long time might someday be achieved. We know the technology bitcoin it’s back-end blockchain and this new tech that still need to was developed.

If the fiat currency will replace I think system speed transactions like TPS need in increase and also against the regulations of the world.

Maybe, in the end this act will gradually replace paper money.
However, among the world's elite is very influential if fiat currencies replaced well a little difficult for it all

Yeah I believe that bitcoin will take over the market in the future. From barter system we reached to cryptocurrency. I don’t know about other cryptos but I am sure about bitcoin that it will be the mainstream and everyone will use bitcoin for his daily needs. We will enjoy cashless world in the future due to blockchian and crypto. Governments will also legalize bitcoin soon.

I also think that cryptocurrencies will replace banknotes sooner or later. Because the banknote itself is the biggest bubble in the world, and comparing the cryptocurrency with the banknotes, we will find that many of the attributes of encryption are completely beyond the banknotes. This is the currency of future human needs.