Bitcoin Forum

Look at what happening around. The first cryptocurrency bitcoin was invented to reduce the hassle of third party and have borderless transaction. Isn't it true? Now, look at what happening. People are more into investing it than using it as currency.
Most interesting is people are most interested in coin which give more ROI, they are not interested in the currency-ish of a currency.
For example, some people are talking a lot about BSV, but if they have some research, they will never take it as currency, but as this is giving a good return now, it's best for them. Why man? Why don't we look into a decentralized coin? Why do we only take it as investment? Did Satoshi ever take it as investment? Or he invented Bitcoin for borderless payment and solution to the intermediaries problem?

Your points are absolutely true! Bitcoin is a currency system which effectively eliminates the need of an intermediary and is not limited by international borders! Still we take it as an investment! But here we need to understand why!

Being a common people, how often do you really send international remittance? How often do you really make international purchases? How often do you face such situation where you can't use your bank account to send or receive funds? If you can answer these questions, your concern will also be answered!

Those who need to use bitcoin for anonymous and intermediary free international transactions, they are using it! But the number of such people is very less! Majority of the bitcoin users look at it as a method to make money, either by holding or by trading and there's nothing wrong about it!

Bitcoin is popular today because it has given financial freedom to many people. So if people are happy that way, let it be an investment and a reason to happiness!

we all knew that since crypto isn't accepted offline. we all need the fiat unless government will force all to just use crypto.
countries today are creating digital fiat currency as well like China and some countries are already following so eventually cryptocurrency and digital fiat will co-exist. they will be used widely because they are government backed digital currency which obviously considered fiat.

This probably for people who are only interested in making money. They hardly look at principles. A 2 dollar coin with solid crypto principles is way more valuable than a 200 dollar coin with little to no principle. Besides, promoting the latter atall or more than real thing, might be considered an indirect promotion of anti-crypto ideals

You are right but i would suggest you to not get disappointed, these sort of things take time as crypto is relatively new and most people and govts around the world are still in denial of its usage and future prospects, it is a matter of time and soon everyone will accept this tech and we will slowly move towards complete adoption and then everyday payments will be done by crypto too.

Crypto currencies might be able to replace fiat currency but, yeah it won't be bitcoin or any of those current altcoins (or maybe there are some altcoins out there that are suitable for using it as a currency). By replace, I don't mean that they will completely replace it. Both, crypto currencies and fiat currencies will be used side by side simultaneously.
People are using it as a form of investment because they believe that in the future everyone will use crypto currencies, thus making them valuable.

He created it exactly for that it is actually doing that so what's your deal?

Anyone who entered the cryptosphere expecting to see cryptos replacing fiat in the future is a plain fool...As if the govt around the world would let their fiat ponzi scheme die when it's literally what keeps the top 1%, politicians, the banking system, etc, as filthy rich as they are.

Eventually it will if more and more people have crypto currencies and also services which accepts crypto payments.But one of the great barrier is regulations from government which makes bitcoin and other cryptos are into certain screening before usage.

Maybe there will be a time comes when we will use decentralized cryptos because of people lost trust the backup level of fiat money.

You are right with what you said about the purpose of bitcoin especially  as a way to cut of intermediary but then people  have benefited a lot from it during trades, yet it's purpose as a payment  asset can't be over ruled for people who trade online, but can't just replace  fiat as more offline  people  would still go for fiat.

very true,, bitcoin itself has value in fiat so there is no way that crypto will ever be able to fiat currency untill unless people start using stoshi as payment and receipts and for the commodities must have value in stoshi rather then dollars. vendors or manufacturers will never price their products in stoshis or btc which is so much volatile in nature. Crypto just make transactions more secure, anonymous and faster than the traditional method

It's very true that BTC was initially developed to solve problems like those posed by intermediaries, curbing drawbacks to p2p payments. However, nowadays many see BTC as store of value, and hence it will never replace FIAT. Even if it served its original purpose to the core, being used mainly for payments and not long term investment per say, it can't still replace FIAT. The reason is because both crypto and FIAT are relevant, and crypto can't replace FIAT entirely in the real sense.

You're absolutely correct.

Coins like BSV have no real use but speculation. People see that it's currently extremely volatile which means that they can take advantage of the price movements through leveraged positions, which they can get in and out of very quickly without even ever holding BSV in their wallets. It's part of the reason why I think that BSV has no long term future to speak of.

But adoption will come, don't worry about it. We just need more merchant integration for that to happen. Replacing fiat currencies is a bit of a stretch, but coexisting is not an issue for sure.

Of course crypto is a digital and Virtual currency which can't be appreciated at local trades that uses fiat cash. It's complicated because it operates digitally, and not all part of the world already implemented internet on their every transactions. So this is impossible to replace fiat as mode of payment on all sectors, most probably there's an optional choice whether fiat or crypto because both are application for this modern times.

Who says it will replace fiat? Cryptocurrency is great but for me it will not replace fiat, they will both co-exist with each other. They are useful in different field, fiat is more convenient in rural areas because of limited equipments, internet, devices. Etc. Urban areas is more advance and usually uses e-payments, But not in all establishments.
In conclusions, crypto is usefull in across border transactions and fiat is more convenient local, maybe also crypto but in urban areas.

All assume it's indeed a currency, but they're on one side of her also looking for the advantage of such, is it possible only as a means of reducing the complexity of transactions? They also need profit to meet the needs of his life. No need to be selfish, they also need money to eat and survive. Created ICO and its kind also for investment means and long term so that the ROI is beneficial for the investors themselves not merely to hold it for transactions. And Crypto does not replace the original currency for payment for now, only as a substitute means if you want to use a faster and anonymous cryptocurrency

The purpose of bitcoin is great and its working good now but I doubt about replacing fiat money because the government wont let that to happen especially the Dollar. Bitcoin invented to get away from the banks, and since blockchain technology is really good, a lot of services are being made under this technology and hoping to see more in the future.

Almost all the people are arguing as a payment system and bitcoin has a chance to replace it but when we are seeing it from the scalability and bitcoin will never try to replace fiat. I m saying that crypto will never try to replace fiat as the regulator itself that can replace the fiat system. Even the digital fiat can't even replace 100% of fiat currency with the digital currency that already issued by the government.
What makes fiat valuable consider it has backed by the economic of the country and regulators.

Yes, that's what happened because they only chose cryptoassets and not about cryptocurrency, when more people and investors only made crypto an asset then of course the use of crypto was no longer something that was the main focus that had to be developed and we did not know about Satoshi goals actually, because basically crypto can be used in many aspects which of course it will become a broader commodity.

That's because humans are more profit oriented than purpose oriented. Many Bitcoin investors don't care about it been a payment system. Some don't even know that was the sole purpose.
Many got to know about Bitcoin from friends or family as some 'stock' or assets you buy hold for sometimes when the price increase, you sell to make money. If we keep going like this, I don't think high authorities will be serious about it. It's kinda Sad.

how could it become a stable currency only the concept that will be taken in the future that is digital and I am a little doubtful about whether decentralization will be applied by banks and governments.
so crypto will remain and fiat will also coexist, so I agree with you that bitcoin and ALT are considered commodities.
maybe you will be interested in seeing this  ;D
https://cointelegraph.com/news/bitcoin-and-eth-are-commodities-while-xrps-status-is-unclear-cftc-says (https://cointelegraph.com/news/bitcoin-and-eth-are-commodities-while-xrps-status-is-unclear-cftc-says)

People are using it as of now as an investment because most of the governments are not yet aware about crypto currencies. Once the awareness will spread all over the world together with the acceptance then bitcoin and other currencies will make another step and that is to replace fiat someday.

Our technology is keep on advancing therefore time will surely come that people will forget fiat and the era of digital payment will commence.

Yes it will. Biggest block chain use case is money. Why?  Because it is digital. And is worth something so can pay fees and that makes it secure. Many specially in last years believe blockhain killerap is in something else.

IMO no matter how you use crypto, it still helps crypto becoming big
In other meaning, you still helps crypto becoming big although you just use them as a speculation place

When you buy Bitcoin, then Bitcoin marketcap increase. It makes developer spirit to develop Bitcoin
Bcz you know that Bitcoin is on early stage. Need more improvement to be good as currency

So, there is such as "cooperation" between speculation and dedeveloping Bitcoin itself. Which both are important no matter they are

Bitcoin was created to be like gold which means it's good for investment and yes anything that has value can be used as means of payment, bitcoin is meant to change people's life because of its scarcity feature too, moreover many merchants are accepting bitcoin as means of payments, the merchants are over 10,000 already

How cryptocurrency is operating is not what it was invented for. Ever since bitcoin was invented in 2008, it is being used more in something like money laundering, rather than benefiting the people through its technology. I suspect this trend of making cryptocurrency just a platform for investment will harm itself. So authorities should think about it. 

You are definitely right. As I am always saying with all my previous comments, we should be using part of our coins or tokens so the market will have a movement. That will result to a healthier Crypto market which will help the crypto community grow. I am not saying that It is bad to have an investment but rather we must have both.

I also think it might not happen and the main problem is that governments will want to still have a control on the money issued and other people not use crypto, but crypto is a way to fast send money to someone when need and is much way faster than bank transfer.

Blockchain based fiat are fiat cryptocurrencies. And they are coming real. Many countries have already started studying about it and many are thinking about it.
Soon every of the fiat would be on blockchain and people may argue it should not be called a crypto but they would be much more crypto than many of the coins circulating now.

For example darknet very efficiently uses bitcoin as a currency. In everyday life at the moment, it is much more convenient for people to use fiat and this is obvious. We do not know who is behind the name of Satoshi, for this reason it does not make sense to discuss who and why invented Bitcoin, let us leave it to the conspiracy theorists.

Yes there is no way that a crypto can replace fiat but still crypto can work in parallel with fiat and nowadays there are lot of stable coins which will be handy for us to make transactions with lightening speed without bothering about fluctuations. Already government and agencies will be losing on their tax and commissions they used to receive while transferring money across borders.

for the time being, crypto cannot replace fiat currency. but in the future when banks around the world agree and legalize the use of crypto I think all countries will make and manage their crypto for money circulation in their countries. this is not impossible because the world financial system must develop following the wishes of its users.

do you know people used to only use gold to interact with each other and then the bank provided a solution by using fiat money as a substitute for gold which is very difficult to carry anywhere? and when civilization develops, certainly bringing fiat money will make people think it is not important anymore because there is something simpler by using a payment platform that is already widely used.

Even if crypto is going to replace fiat it's not going to happen that very fast, not until all the people in the world start using digital currencies more than fiat and gradually fiat are getting abandoned or neglected but belief me it's going to take a every long time

My deal is very simple. I want bitcoin to be replacing fiat. Bitcoin to be taken as currency. People enter in the cryptosphere from the interest of the technology, not impressed by having good ROI. I am here because I enjoy using bitcoin when I pay my employees. I use writting service regularly and I pay with bitcoin. I am a fan of bitcoin because I have no fear of getting my account locked unlike other payment method.

I agree, as bitcoin market started to drive crazy compared to what it was back then, people started to take it as an investment although the purpose of it at some point is a cashless living, that in my opinion it become a norm up to this day. Besides no matter what crypto or the bitcoin itself would not still be in government taste thus having it as a currency is close to being impossible.

this is just something that is still measured by opportunity, and the crypto community places more emphasis on investment opportunities.

if there are many income methods circulating in the crypto world as sustainable jobs, then most people will not only think about investing, but this opportunity is still very rare for the whole. They also don't use it as a currency because nothing can be done on a wider scale of use, all of which are still covered by fiat.

Well major adoption is gonna surely happen, but I can't still see it yet as something that would replace fiat. I had read this thread  (https://bitcointalk.org/index.php?topic=5218069.0) in the Bitcoin Discussion, almost the same as this topic. In the end, people would still convert BTC to USD unless we get that 100% adoption around the globe. It is still quite possible for fiats to be replaced, but people seemed to be got used to the traditional way of paying and making a transaction.

You do have a point. But as of now,  crypto being a currency or just mainly an investment asset already depends on how an individual perceives and uses it. Maybe most of us are seeing it as a currency which is made to break down the issue for a third party and to provide convenient and decentralized currency experience. But there are people who look cryptocurrency mainly as an investment asset which serves as an income generator only and not actually a currency at all. We cannot blame them because cryptocurrency is flexible enough to act depending on how we wish to use it and how we need it on our daily life basis. I agree that cryptocurrency cannot replace fiat because both are acting based on how they supposedly be and to maintain the balance in the economic sector. Fiat and cryptocurrency have their own unique features which makes them different not just in platform but as well with their usage. No one must be replaced nor eliminated among those two because both have their own roles to play in people's lives. We just need to sort out how we can incorporate on using fiat as is and cryptocurrency as is without overlapping each other's roles.

USD is a globalised currency so it will accept entire world and most of the peoples are holding the USD because of globalising currency will never die on forever. But cryptocurrency is a good growing currency so those are invest Bitcoin and altcoin they are all earn good profit. So it is too risky on every time and everyone know, Crypto will never replace the fiat currency but market technology improve simultaneously so anything happen on future world.

Yes your right we should use it as a currency also but i thing they should make it easier for people by adding it in different used plateforms like online stores and in regular stores and to purchase any product.

Personally, I believe that cryptocurrency is a terrific invention of digital currency. And this will provide great opportunities for financial transactions. Digital currency can be transmitted around the world and at the same time practically do not lose big commissions. In many cases, digital currency is very indispensable and provides great opportunities for payments. Accordingly, the fiat currency is also necessary and requires special attention. Since digital currency can be converted into fiat and used for its intended purpose.

Now there is such a time in the market when the market allows you to earn good money on the volatility of coins and it would be very foolish not to use what the market gives you. many people who invest in altcoins also believe that bitcoin is the best coin, but it is obvious that now it is not yet developed enough to be a payment tool anywhere in the world

As a matter of fact to some extent it can be so, since fiat currency is a currency that has legally back up by a government of a country, but in the situation where government legally back in all the country of the world it can replace fiat currency in all country of the world since it can serve as a medium of exchange for goods or service bought

You are right, one of the reasons is to unravel the complexities of third parties and provide freedom. However, most people tend to use it as an investment tool and commodity trading because it is indeed the most effective, BTC and other altcoins have high volatility so it is not easy to set it as a price for an item or service, which is why other innovations, namely stable coins such as USDT, appear.
Moreover, this is still the initial stage, there are still many innovations and developments being carried out, after all, most governments still cannot accept cryptocurrency in full, there is economic independence that must be maintained as a form of existence of a country's leadership, and that we must understand. Use as necessary, take the benefits.

The world started to gain awareness on bitcoin particular on the system that it's has been used. Volatility of this coin was based on the dollar rate, so there's no problem if people adopt it as their main currency. However, fiat replacement cannot be fulfilled that easy, because there were some situations that we needed to use paper money or fiat cash on specific goods that's inaccessible by internet.

maybe some countries think bitcoin is a payment tool that will replace fiat, because satoshi made Bitcoin / cryptocurrency might be created to aim at creating a digital payment instrument, in an era where technological advances are growing, and why some consider bitcoin is one of the best investments because, it can only done online, whereas if fiat was created for real payment,

So many people are in demand to use bitcoin as a payment system in the future and those countries are getting threatened caused by this thing. i think the satoshi's vision is not only created the payemnt instrument but the freedom to our financial to leave the centralized system that gives a lot of limitation for us to control our money. Remember some are still seeing bitcoin as commodity too.
But the possibility to replace fiat is only a small percentage caused by it has backed by the regulators and financial institution. Im aware about the regulation is the main thing that still becomes the opposite thing to the crypto.

The real reason why bitcoin is invented is to make it as a real currency like dollar and euro but since majority of the people are making it as a good investment and never really use it in most of their payments, so bitcoin remains as an alternative currency next to fiat. Crypto will gain more recognition in the next years but replacing fiat for crypto is still very impossible for now to happen.

That's their goal and to make money within the short term. They are into coins like that but they don't know the full history of that forked coin from BCH and another forked coin from Bitcoin. The mission of satoshi for creating bitcoin is truly to make it a decentralized currency for payments but it has changed all of a sudden over time because it has created a value that we see it keep growing from time to time. So for the investors' perspective, they are okay buying it as an investment but they should also use it as a currency.

satoshi makes bitcoin not for investment, as you say. satoshi made it to solve complaints with third parties. investments arise from private holders. Why,? because the holders see a limited bitcoin supply, and have a difference to get it. unlike fiat which is printed without borders. bitcoin is mined with certain difficulties, and the more difficult it will get. this is where the bitcoin holders assume. they consider this to be a commodity rather than having to assume a currency. because demand is getting bigger, while supply is getting smaller.

yes, it is impossible because crypto and fiat are clearly different. fiat has intrinsic value, whereas crypto does not. besides that, crypto is also very volatile and very different from fiat, and crypto will be difficult if used as a primary payment. I think crypto is more suitable for use as an investment asset or a secondary commodity.

Fiat money usage around the globe is very common. People need to be educated to use cryptocurrencies, as everything associated with cryptocurrencies is connected. Now the usage of cryptocurrencies with time keeps growing, but the same hasn't reached the level to go mainstream. It takes time, maybe after few generations this can happen and until then cryptocurrencies will serve as alternate to the fiat.

Actually it's fine if bitcoin is being used for investment. There are many people out there who invest to fiat for example USD and Euro but the problem which bitcoin faces is the fact that most of people who use bitcoin prefer to use it as an investment rather than spending it and I can see that people who truly use it for making an online transaction is quite few compared to majority of bitcoin users meanwhile those fiat investors are only minority.

Bitcoin price is volatile and the user will look the chance to using it as an investment place. Other than that, there are many regulation who stated that bitcoin is being harmful to be use as a transaction tool, I think these problem will make the user didn't use cryptocurrency as payment system.

I will be happy if the regulation especially in my country that allowed the transaction can be use as payment system even I will make it as daily transaction since it will be useful as of now. The money paper is rare to be use, such as in my country there are many platform pupping up which provide the online transaction for example paying electrycity and etc.

Sad to say but very true, people enters into this space because they knew that they can make money out of it. Some people does trading for a living because its volatile and some just hold hoping that it will become mainstream one day. Bitcoin becomes digital gold and not a currency, but if people realize the true reason why bitcoin is created they will use it on a daily basis.

cryptocurrency is difficult to make as a global currency, you can see an example of a very limited bitcoin coin supply if bitcoin is used as the currency used by many people then it will make bitcoin expensive and it will be very difficult to get bitcoin but there will definitely be manipulation price because the price is not stable, whereas if you use an unlimited supply then it will make the price can be destroyed instantly because of the influence of the supply that is too much and will make the price very cheap.

so the conclusion is cryptocurrency is still very difficult if used for global payments.

Regardless of how popular they are in the world and a lot of people are using them whether as an investments or things, it's still cannot replace fiat currency. Some people believe that it'll replace fiat eventually. But, you could clearly see that not everyone has access of using them freely. Tons of them still doesn't even know what a cryptocurrency is. Cryptocurrerncy is just like a digital investment, where in the end you're going to need fiat currency to how much their value. So having said that, it's hard to imagine them replacing fiat currency. At least not now or in the near future.

I think the principle of cryptocurrency is known by the public. it's just that more people need cash than digital, because of that, many people are more fiat than crypto.
as far as I know, people have learned to use crypto, because of the encouragement of digital payments that already exist today. I think, little by little, crypto will become very common, it's just that I don't think that crypto will exceed fiat.

of course most users of bitcoin and cryptocurrency only use bitcoin for trading and investment. they feel loss if using bitcoin for payment tools. because by continuing to hold bitcoin we can make more fiat money. and to make payments we use fiat money. and also the biggest obstacle why bitcoin has not become a means of payment is that its value is very volatile and the number of stores that are willing to accept bitcoin as a means of payment is very limited and few in number.

I can't argue with that cause youre right. It seems that majority of the crypto community are not eyeing on the potential or purpose of crypto. The main concern now is how to earn and profit from them. Many paltforms are focuses on liquidity right? Why not we concentrate on those who can replace modern technology in terms of use case. What if someone invented a tech that can replace internet that actually dont need to use online? Maybe that's innovation. For now btc is viewed as source of income for many. Admit that everyone dont be a hypocrite.

Cryptocurrency is created for us to be able to do some transaction worldwide in just one click. It fasten our transaction since it is working thru internet. It will help our government to have a faster improvement on their economy since the transaction is now faster. That is the main goal of crypto and not to replace the fiat money that we have. I hope some country understand it so that they will not ban BTC anymore.

Crypto to replace fiat currency is tantamount to saying we will replace the government in their position .

That's not gonna happen, more like crypto will slowly adopt to some centralize rules which we will not enjoy the full features of crypto which is anonymity.

That's correct, even the king of crypto currency doesn't have an identity to replace Fiat, but in most of the countries the government is not aware of what crypto is and they are banning straight away. The main concept of crypto currency is digital payment, people need to understand that first and encourage to make use of this.

if ever the government will fully adopt this system the very first thing is to have full access or have strict rulings in order to control the flow of investment that will be used inside this industry. It will not get the same treatment since no one / no government will accept system that exist without any house rules
that being implemented to avoid abused.

if I look at the blockchain function in general, satoshi nakamoto makes bitcoin to eliminate the centralized system,
That is why cryptocurrency has the advantage of decentralization, if it becomes a currency or a means of payment or just investment, it all depends on the wishes of the market, because the sustainability and function of bitcoin depends on the community.

some understand it already and they already use it while some have more expectations on crypto and they think that crypto can replace fiat in the future  . you already explain here if what is the purpose of crypto  . 

crypto uses an internet and if no internet no crypto also  , that is also the time that we can make use of  our fiat currency   . see the difference  ? crypto is not too mighty to overtake fiat

I think the main reason was because not many merchant accept Bitcoin (yet) and it's legal status as means of payment are still in disputes in many countries. As simple as that. The fact that it's volatile makes it more attractive as a trading and investment for the time being.

I'm sure more people will use Bitcoin as payment means once we have a clear regulatory frame for it and more merchants starts accepting it.

Yes it is true that not all transactions in this world have implemented technological advancements to use payments through the internet, I don't think anyone will be replaced because they both have their respective roles, in remote areas for example those who are not familiar with technology or the internet will certainly use cash to make payments and that is normal. So for me there will be no such thing as replacing positions because both have their respective uses.

Bitcoin was created for transaction but having all these altcoins makes everything look different.
Altcoins are mainly created for the purpose of investment and since they are similar to Bitcoin, that makes people believe they are the same and they now see Bitcoin as an investment and not as a method of transaction.

I won’t really blame them and adding the volatile nature of Bitcoin also discourages people from using it as a method of transaction. Moreover I don’t expect Bitcoin to replace fiat, I know for sure that even if we are going to start making use of cryptocurrency they are going to be the ones that are created by the government.

Maybe in the future, we will see many merchants available that will accept bitcoin and the other coins so we can use crypto to pay anything we want. But if we talk about regulation in all countries, we don't know when all countries will accept cryptocurrency. I think if the government can see that crypto can help them in the financial section, they will integrate or apply cryptocurrency with their system.

Currently, a lot of coins are suitable for payment and surely the era of the crypto market will be very developed because blockchain technology is being applied in many areas. I think there is no need to wait too long to see this because in my country there are also a lot of stores that accept payment in Bitcoin and some altcoins. Of course, my country government does not prohibit it but it will certainly be strictly regulated.

Yes it is true, both have their respective uses at certain times and cryptocurrency itself requires the internet and for some places that are difficult to access or difficult internet in the area, cryptocurrency there cannot be used and we need fiat. And for me personally cryptocurrency will not replace fiat but cryptocurrency has its own advantages that we can make transactions without the need to meet face to face.

I think that's the reason why the market is unstable, because most of the cryptocurrency in the market was not utilized the way it was made, instead we only use it more for trading and investment purposes, because of these reality, most of the top cryptocurrency in the market like Bitcoin,Eth,XRP,EOS etc was just easily losing its value overtime  because they are all dependent on trading demand and not for its true function and purpose.

Well you are not wrong you are only saying your mindset, but the truth is that blockchain technology is the future and cryptocurrency will be the only currency in the nearest future.

Personally, i don't really think Satoshi Nakamoto developed Bitcoin to place fiat currency but rather introduce an alternative way people can easily send funds without any third party involvement. Considering how blockchain and Bitcoin were designed, these inventions were meant to bring decentralization into our financial ecosystem rather than replacing fiat currency. Bitcoin needs fiat currency to exist, without it bitcoin can't exist.

Why do you say that blockchain technology is the future and cryptocurrency will be the only currency in the nearest future? Is it because the market has started to improve? or because the token that you hold has begun to rise in the market price?

You are right the first few lines, Bitcoin was created to trade without intermediaries and can trade worldwide quickly and safely. In addition, bitcoin is now more speculative than using them in everyday life.
But you should remember that in order for Bitcoin to be popular, we need the approval of governments around the world. And so far there are not so many countries accepting it so we need to wait more for this to happen.

Yes, majority people right now invest in cryptocurrency only because they saw it as a good way to get high ROI and not for the 'so-great currency' as the way it tries to sell to us.
But that's because of the unstable and variable of cryptocurrency in terms of price. There are people using it for the 'currency-ish', a bit low but still there as a minority number so nothing to worry about.
Heck, if USD, gold or silver somehow become unstable and variable in price, I'm willing to bet there will people start to hoarding them as well.

Absolutely true. We've already forgotten the main goal of Bitcoin. At present, community doesn't want crypto to benefit the economy, but to increase in price. No one cares about the decentralization, future, Satoshi, Bitcoin. USD earned today through Bitcoin is more important than anything else. Already, the instant drop of the price is due to these thoughts. Otherwise, if there's confidence in Bitcoin, not everyone sells immediately when the price drops.

Until now, Bitcoin has not been applied to payment. Because there are so many things binding it, for example governments that haven't accepted bitcoin and this market yet. And the price of bitcoin is always volatile and very difficult to use for payment. So this market is still at an early stage and it is best to speculate on it

How can you be so sure about that? Both blockchain technology and cryptocurrency have a place in the future but not to the point that cryptocurrency can replace fiat. Do you think governments and all the people will agree to replace fiat when we've been using it a long time ago? And the nature of decentralized crypto is still vague to become a main currency for everyday transactions.

There are people who will always prefer to deal with paper currency than digital currency. There is less volatility of fiat currencies compared to cryptocurrencies. In the long run, both will exist alongside each other.

This has been debated before and there are idealistic people that believes that cryptocurrencies will fully replace fiat in the future. Realistic people meanwhile can only see up to the point where some strong cryptocurrencies can coexist with fiat. It is difficult to determine what will happen in the future and whatever vision you believe in, I hope that the industry will still survive because it helped many people and opened up new opportunities to change the market.

Whate ever Satoshi intended for cryptocurrency, people look at it as a stepping stone to have financial freedom.  They only participate to get profit from it.  Without the motivation of getting profit, people will stay away from cryptocurrency because they are far more comfortable in using fiat currency.

A lot of people has been always expecting that cryptocurrency or bitcoin could replace fiat currency in the future because they say that crypto is really much better than fiat when it comes to fast transaction and security. But cryptocurrency cannot replace fiat currency because fiat is supported and controlled by the bank and the government, unlike crypto it is still not yet legalized or accepted by other countries.

actually it depends on someone's use too, if people use it for daily transactions there will be a possibility that bitcoin will replace FIAT, but so far the use of bitcoin is still more for investment and also trading on the exchange. whereas to make payments in daily life is still limited by existing regulations.

This is true people are using bitcoin as an asset of investment and nobody is willing to take it as currency. There are reasons for that, how many places you have in your surroundings where you can use bitcoin or other associated crypto? Probably very few (if you are living in crypto friendly country like S Korea or Japan), in my case they are none. I hope that answers your query.

that's the advantage of Bitcoin, other than as a means of payment, can be used as an investment. Fiat currency is never irreplaceable, because it is clear and easy to use. Bitcoin is only part of Cryptocurrency, part of Blokchain, if for reasons of speed and transaction costs, then some people choose Altcoin ...

That's right when the people are using cryptocurrency as an way of investments then probably we can say that they are the one who are the investors that are in the cryptocurrency for profiting although we all know that all of us are here to earn profit but those investors that are risking their money in order to invest in some project is the one who are more risking part on it. And for those people who are just using cryptocurrency as a daily transaction for example as buying any products or things from a online shop and doing online shopping then probably this are those people we can called as a fiat user because they are using bitcoin as an daily transaction in order to supply their needs.

in fact the main purpose of cryptoqurrency is as a transaction tool like paper money in real life in the future, but I personally am not so sure of that. I personally only use crypto as an investment tool to make a profit and nothing more than that.

Bitcoin may not be used as a payment tool for your daily needs, but it will always be used for large transfers and for any large purchases(houses/cars etc). other cryptocurrencies will be used for  any daily purchases, but so far it is not clear what kind of coin it will be

Its main purpose is to carry out transactions, but the growing price of bitcoin makes people rethink to use it as a daily transaction because the costs and transactions are also quite time consuming and what is clearly an obstacle is the regulation of a country.

I think cryptocurrency or even bitcoin is not going to be more than what fiat money is since the fiat money is already regulated by the government for sure this is the most of the countries around the globe use as a currency because it is what their national bank is issued to be. The cryptocurrency cannot be more than fiat money unless there are changes in its technology in my opinion for example bitcoin it could easily be the top alternative payment method that you could use but as a top currency in the future, we need a lot of development to achieve that for sure even the government is not going to approved to used this bitcoin as a national currency in a country.

Greedy people. We honestly don't need their type. ( We don't appreciate your kind around here xD ) Crypto is already replacing fiat for me more and more every day. The more jobs I get and the more places I am paid from the more I love crypto. I get paid more and more in crypto each passing day and there are many ways for me to use it. I actually don't use fiat very much. I sell crypto to top up my bank account like a wallet. Mostly my bank account is fairly low. I only sell crypto and send to my bank account when I need the fiat. I don't actually keep the fiat for very long at all.

Do we ever think both crypto currency and Fiat can still work together and make better sense, than pushing in the name of rushing digital we make things seem complicated. As matter of fact we are still enjoying Fiat. We gat no issues with Fiat but following technical advancement is what is pressurizing fiat out of our way. Combining digital and Fiat is what made cash transfer and with the use of ATM easier.i just want to make you know. The both are important.

That’s bitter reality of crypto that it’s still unable to find its way as a mode of payment system. Strict government regulation, crypto uncertain price and lack of awareness are some reasons why it’s still not used as currency. Even if it finds its way as payment system, it’s very unlikely that it will replace fiat.

I think that fiat and cryptocurrencies will go parallel to each other for a very long time. We are still at the very beginning of this path. Over time, the volatility of major currencies is minimized and it will be possible to safely choose what for and how to pay

yes you are right bitcoin does give us convenience in international transactions without limits but transactions like this are very rarely done. and maybe the main purpose of Satoshi to create bitcoin is not for investment tools but if in fact at this time bitcoin is used more for trading and investment than payment instruments we have to accept it. because by investing in bitcoin we can get a big profit.

It can be used as currency but we can't say that it will replace fiat from permanent currency. That's the reality that we can invest from crypto but we can't fight it for the government from using it as a financial use because this is volatile and we can't use it for buying goods except we do converting before using it.

Who here really thinks that fiat currency will be destroyed and will never be used ever again? I mean that doesn't make sense at all, fiat currency is what the economical world around us is built around, I am not talking about the cash banknotes in your hand, I mean fiat in general, all those bank accounts all those stocks all those forex everything has fiat in them.

If one day humanity gets better and better and we reach to a point where we are doing interplanetary exchanges between goods, I am sure that it will be fiat that we pay those things in, maybe dollars or maybe something new but it will still be fiat. There is no reason why people should leave fiat aside and use crypto, both of those things can coexist together just like they are now, nothing has to change for it to go bigger in the future.

Both are same actually but people see it different, crypto create fiat and fiat create currency. That's the circle and the different fiat has more powerful position than crypto in regulation and protection from banks. In my mind crypto doesn't need to replace fiat because now already has crypto pair currency in exchanges, soon or later fiat will lost users. Fiat only bridge into bank account and now crypto can do the same function.

Will need right cryptocurrency, which can be good as payment from transaction fees and speed of transaction. And then regulation, this is problem too. Maybe for now, if cryptocurrency is look like people only focus on use it as investment, as long it is not bad i think already good.

The point is that bitcoin and cryptocurrency have advantages where we can invest and make money. no doubt that because of bitcoin many people can change their lives financially. This proves that bitcoin can enter various communities. well, Nakamoto never even appeared to make any statements about Bitcoin. but at least what he has created has many benefits for the world community

That's the correct thinking I am looking for. Crypto will not really replace fiat but they will be considered as alternative. We should be very well-informed or should know atleast the basics before we invest our money.  If the knowledge is enough and we have the opportunity to buy altcoins, I think that will surely make a good investment.

If we take a look t past centuries and the financial history it is declared that people use barter system for medium of exchange the silver and gold coins took place and dominant in financial market for years then paper money came in existence and still surviving.

While many other technologies changes and modern invitations,People change and want to fast payment system beyond the boundaries without any involvement of third party and it made possible by cryptocurrency and the popularity of cryptocurrency shows that crypto will replace the fiat.

Crypto will never replace fiat and it can be said that crypto is an alternative that can be used as a payment tool faster without face to face and can be done anywhere while there is internet in the region. And for me crypto will not replace fiat because in remote areas that are difficult to get a connection or there is no internet in the region we will really need fiat and fiat is a payment method that will never be replaced in my opinion.

if crypto has the opportunity to replace fiat, then that has happened long ago. In fact, that could happen in 2017. It's just that, because of volatile prices, and also high prices make crypto so difficult to replace fiat. most people will view crypto as a business and profit.

I get your point. Maybe the reason why people takes cryptocurrency as an investment and not as a currency because of its price value. Why? Because for many people specially for those who are just new into engaging to this industry we are all currently into sees cryptocurrency as a way to get a big feedback of money through making investment and not totally as a currency at all. It is true that cryptocurrency supposedly be used as a currency to provide a cashless society that can make payments for an instant making it easier for everyone. But as time passes by the main purpose of crypto as a currency is somehow being set aside because its value is getting bigger which makes people perceive it as a good investment rather than a currency. What the main importance is thar even people have different perceptions and usage on crypto, still they are using it for good and that is the most important thing that cryptos are being effectively used by people whether as a currency or an investment.

People were very alert when Binance exchange delisted BitcoinSV from this exchange. This is right Bitcoin invented for rejected third party and secure transaction. But for money laundering this is insecure, then many countries banned Bitcoin. All people can't change their interest at one time until see the real use of Bitcoin.

Crypto will never replace fiat currency because majority of the people are still into fiat not because they don't want to use crypto but because of the fact that most of them don't even know what crypto is and how it will be useful. Education will be a good solution for all our problems and that crypto adoption will be more possible if we all know the proper usage of crypto. And knowing that most crypto users didn't use it as a currency but rather use it as an investment will also lessen crypto adoption as a currency.

I think this is related to regulations that apply in many countries that do not recognize Bitcoin and the like as a legal transaction payment currency. But many sellers have accepted bitcoin as a payment option and that is also widely used by people. When developing Bitcoin as an investment option because of the very rapid development of its price and I think it's natural.

People who dive into bitcoin or crypto currencies has different reason, some are day trader, some are using it as safe haven, and some are believer, they believe that bitcoin is the future money and the like. And no one can control them even satoshi cant do that to change what people think or change the reason why they buy bitcoin. I think only time will tell if bitcoin will replace fiat money or it will fail no one knows. but for me there is possibilities 100% chance that fiat money will become digital money using blockchain tehcnology in the future.

Crypto will exist together with fiat, but for now it cant take over the dominance of fiat to replace it as currency. Fiat is regulated by the government and recognize worldwide while crypto particularly bitcoin is decentralized currency which make it hard for the government to accept it as currency because it cant be regulated.

On the other side most people are engaging themselves in crypto because of the opportunity to earn. Bitcoin is created as currency but due to the price fluctuation that can make us earn by simply holding, people are seeing it the other way. We can use it as currency but limited on where we can spend it since there are only few merchants who accept it, excluded for the countries who already recognized bitcoin.

They didn't wanna recognize bitcoin as a replacement to the fiat but those countries can recognize bitcoin as a digital commodity that can be called as digital gold. Many sellers have accepted bitcoin caused by they were seeing so many potentials on bitcoin. It's slowly but surely bitcoin will be accepted as the next payment system.

At the moment, of course, this is impossible, because a very small part of the population of the whole planet knows what cryptocurrency is and too few people know how to use cryptocurrencies, so fiat money will be in demand for a long time to come.

I do get your point bro as many people takes bitcoin as a digital gold than use it as a currency. They do this because of the scarcity of Bitcoin, that it have a potential to increase in the long run. But dont forget that there are still people using it as a currency by sending across the world, buying some stuffs online or services. It can be used as a digital currency in the future as the main goal of Bitcoin is mass adoption to be of used on everyday lives.

That means, the use of bitcoin depends on the needs and circumstances of each person, of course, it cannot be forced. Whether as an investment tool, trade commodity, or payment instrument, it is all effective depending on the needs of each person. In general, I also agree that cryptocurrency cannot completely replace fiat, but only complements. The reason is that on some sides, fiat is more effectively used as instant payment and micropayment, and does not depend on the internet. And on the other hand, which is most suitable for the digital era and its development, cryptocurrency has advantages in terms of security, privacy, and speed.

Even in the future mate, it's still not likely that fiat will be replace by cryptocurrency since we have a government who likes everything on their control so centralized platform will win and we have banks stronger than any financial platform.

No it will never replace fiat. Does anyone really think the rich and powerful out there will give up their power just like that to the poor that bought into btc or crypto? Hah nope.

I guess that as cryptocurrencies and fiat money coexist peacefully in some (https://cryptogeek.info/en/exchanges/idax-review) exchanges and in our lives, there's no need to choose between these types of currencies once and forever. Not now. There are some situations when it's better to pay in cryptocurrencies and many situations when fiat money is still a better choice. I think we can use both options. Probably the invention of cryptocurrencies was a revolutionary technology but in the finance sphere, it's better to talk about the evolutional approach. I think that only after a long span of time with cryptocurrencies and DTS technologies implementations we will see the real change.

 I am pretty sure people back in the day probably said the same thing about banknotes which "can't replace coins" or maybe even sooner, "cards can't replace banknotes", money constantly changes shape and form and crypto is just another example of that. I can't say that we will get rid of fiat forever, even coins are still in existence if you look at it, however crypto could become a larger and larger part of every day life, which even if it can't be called replacing it, could very well be a big alternative, or even standart. When you look at how technology improves every single day, you may end up realizing that people do use their phones more frequently nowadays for payment, still a miniscule level compared to cards, but that number grows every single day, which helps crypto because we could use our phones to pay anywhere with crypto in near future.

the purpose of the formation of cryptocurrency is likely to make transactions faster, but due to high fluctuations, it has turned into a place of investment, even today. Well, maybe 100% of crypto users, 80% of users use the crypto function as an investment, and only a few use it as a transaction tool. this happened when the government banned the use of crypto as a transaction tool. but, I think, the developments that occur will make crypto centralized and this can replace fiat positions. however, little by little, countries began to develop their coins with this system. if there is a chance that crypto will replace fiat, it will start from a country that supports cryptocurrency.

It is very difficult to say that cryptocurrency will not replace fiat currency. Because now days so many country accept cryptocurrency so many field. And they use it payment and received system.No body can say what happen in future.

Country are actively moving to eliminate cash payments. The first stage was debit / credit cards. I think that the second stage will be centralized cryptocurrencies that are under their full control

   People will have the final word about this. We will be able to choose centralized crypto-currency, or decentralized. I believe in a free future
where we will be able to make a decision and have a freedom of choice.
   I believe that crypto-currencies are the future. We still learn about decentralized system, it will take years for people to understand what is
better for us and our future, but that will happen one day, in 10 or 50 years!

I am glad that you believe in a "bright future", optimism in the current realities is a necessary thing. But no one will allow us to make independent decisions: «If voting made any difference they wouldn't let us do it. - Mark Twain»

This is a very good question.
The fact is that bitcoin is not regulated by states and state organizations like SEC, so whales use bitcoin and cryptocurrency for the pump & dump scheme, simultaneously attracting new capital of trustful investors, buying up bitcoin for 3 thousand and selling for 10-20 thousand. Without government regulation, we will have very high volatility, and in this case only crypto enthusiasts and risky guys will accept bitcoin as payment. Remember the dollar that we are happy to accept in payment in any country. I believe that bitcoin should grow the ecosystem and reduce the turnover of each coin per year by a factor of ten (both on the blockchain and in trading), so that people can stop seeing only the opportunity to make a profit in it. Otherwise, in 50 years we will see a great price, but the exact same volatility and desire to speculate with crypto traders.

Crypto could be leader in many countries and could be in pool position but fiat still exist because its need on many ways in developed countries we have already too much use of debti/credit cards and as few countries also working on centralized cryptocurrency so this is going to happen but fiat will still on cards as its not going any where.

Of course, this is not what Satoshi wanted for bitcoin. But maybe things will change soon. When crypto ceases to be so volatile it can be used as a currency. I believe that this will happen over time.

That will never happen. Nothing happens in an abrupt manner. Everything changes in small steps, and thus it is impossible to change one’s position to the opposite. Or, for this, it is necessary to lay just the titanic efforts of large teams of marketers, economists and politicians and a lot of time.

What is the reason you can conclude this one? Do you mean that crypto will be the main payment tool, while fiat is the alternative one? Honestly, I like your statement as a crypto user, but it seems hard to happen. In my opinion, the national currency must be always as the first option for payment tools in every country. So, it means crypto is just an alternative one.

For me fiat money still exist because it is our identity of our country while crypto will become popular and known but it can replace fiat. The reason why it cant be used as fiat because it is unstable and no fix value, not working especially in our daily lives but the good thing about crypto is can give us extra income, can used sending money. Maybe after many years of being recognize, there is possibility crypto will be used as fiat because we are now around of technology.

No it won't. There will always be a great number of people without access to cryptocurrency in the world. Not only this, not every country will adopt cryptocurrency as their legal tender so fiat currency will always stay relevant in the world.

In developed countries peoples are already using debit/credit cards for most of stuff and now we are watching many countries working on bringing own cryptocurrencies so this can change things for fiat even its national they will connected through blockchain so this will more useable instead of fiat but in developing countries its need more then half century.

You are right, the currency prevailing in a country (fiat) is a form of economic independence of a country and becomes a unique identity, so it is difficult to replace. The most likely possibility is that cryptocurrency becomes the most effective payment alternative to overcome limitations that cannot be reached by fiat. We must accept technological advances in finance wisely and we must understand the relevant state regulations.

The recognition of Bitcoin as a commodity in many countries has become good and positive news for Bitcoin. Because trading becomes official and opens opportunities to step into payment tools even though it is very heavy in my opinion, because the speed of Bitcoin transactions is very inefficient in my opinion.

True it is very good for the continuity of Bitcoin, if it has become a commodity then Bitcoin does already have an important meaning for the world, buying Bitcoin will be better now, and hold up to 1-2 years ahead

yes I think so too even though some people say that crypto will be a means of payment in the future, but it seems to be inversely proportional to the fact people prefer to use crypto as an investment rather than as a daily payment.so fiat money won't really disappear.

all are not balanced with the implementation of the use of crypto on the real market. like how many shops accept crypto? when fiat is still the favorite of payment instruments that are easy to use, the chances of crypto to become a payment instrument will be very small. but when the products of the crypto project run on the market with real products, and many know and use them. I think there is still a chance. need trials such as creating a village with crypto money for all transactions and eliminating fiat in the village. there must be a trial I guess.

You know how we called it? It is a speculation phase, it is pretty new technology, we have to slowly test it and adopt it. Of course that for now it is not the best solution for international payment, but you forget about decentralization, that is the most important thing! No more restrictions by banks and governments!

Governments are currently not ready to accept cryptocurrency as a main payment method, but crypto becomes more and more popular around the world. You can now buy many things with crypto, so it is the matter of time when everyone will be using cryptocurrency.

It will be near impossible for cryptocurrency to replace fiat because aside from the reason that you have said, cryptocurrency also requires technology or devices we can use to access our cryptocurrency but as we can see now even we are in the tech era there is still large percentage of people who don't own their own tech or know how to use them so it adds up to the challenge of having crypto our main means of payment but yeah i agree with the trial i guess, having it tested can help us locate what we're doing wrong.

indeed there are currently some governments that have not yet received payments using cryptocurrency but now there are several countries that accept it and have been made as a safer and faster payment alternative, the government should not be able to prohibit the use of cryptocurrency as long as the seller accepts purchases using cryptocurrency.

countries only protect their own country's finances. it's natural because if the use of crypto is also high but countries don't manage crypto for their country properly, it can be bad for state finances. we must see how countries that legalize crypto as a means of payment. of course, we have to see many examples of the advantages and disadvantages that certainly exist in every crypto transaction that is used.

Not just for bitcoin but other crypto coins, because recognition as a commodity in many countries is very meaningful. At present crypto has its own market that will continue to grow

The situation is possible but even if you go there it will take a long time, because many things must be changed starting from the regulation and speed of transactions and other things

Now in the world there is a general trend of some replacement of cash by their non-cash types. We are talking about all non-cash forms of payments, and not just cryptocurrency. Therefore, cryptocurrency will certainly make its role in this common process. However, our world is not yet ready for the complete replacement of paper money with their non-cash types. This is a lengthy process and it depends on many factors. Many states are now working on the issue of their national stable coins and, as one of the reasons for their appearance, they indicate precisely the positive trend of partial replacement of cash with digital currencies. We are going to a non-cash society, however, there is no need for rush on this issue.

Yes I believe that crypto can't replace Fiat too, the highest expectation that can happen is the live for digital currencies will increase but not to the extent of eradicating Fiat, nothing is wrong if they Co exist

The central bank still plays an important role in driving the economy and I think cryptocurrency can be a supplement or alternative payment. There are still many people in this world who understand cryptocurrency correctly and most still have negative perceptions. But I think cryptocurrency will get a place as a means of payment because it is more practical and saves a lot of costs

approximately,there are many traders which are willing to accept fiat currency to exchange into cryptocurrency .to replace.no. even though it is consistent process ,it is not considered as the best exchange cashing out from crypto currency to fiat due to its high fees required.

It will never happen as the crypto is not regulated and that means if crypto is not yet getting approval. It's better to consider crypto as an alternative commodity or it much better to be considered it as a new kind of investment.
We have been seeing so many cryptos created anytime and if we are trying to take crypto as a thing that will replace fiat and we don't even need a thousand crypto.

From the way bitcoin is designed, people could easily say he intended it to be used as an investment rather than transacting currency.
And as of crypto not being able to replace fiat, it's really early to predict it wont. Almost every of the countries are working one way or other to digitalize their currency and crypto is a better option as it provides transparency.

As much as I support crypto currency or digital currency I don't see that happening in the next 10 years in a large scale . Although there are reports that China is preparing it own version of currency called DC/EP it will be centralised and controlled. I don't see decentralized currency replacing Fiat.

I agree that Cryptocurrency will not replace fiat currency. to implement Cryptocurrency replacing fiat currency is very difficult because Cryptocurrency is a digital currency that does not exist in real form, and often fluctuating and inflation.

The development of new technologies cannot be stopped, and this applies to the banking sector. Now more than 60 countries are on the way to creating their own digital currency. And this digital currency will definitely replace the Fiat currency.

Both would more likely co-exist in the world market, at the present view, since there are countries who do not recognize the existence and advantages of cryptocurrency and blockchain technology. We are on the digital era wherein most of the things are aligned in technology. There might be a day wherein fiat will no longer be used due to the evolution of technology but there is also a possibility that another digital currency would be created that would more promote equality, which is quite hard to see in Bitcoin that has unstable market price.
I would agree with the turnover of digital currency but I doubt that it would be cryptos that would be the center of currency in the future. There are still issues such as decentralization and lack of taxation(?). But who knows, it is still too early to make conclusions. If ever there will be adjustments that would meet the demands of thr majority of countries, that could be the answer.

If the government supports the use of cryptocurrency in the substitute as fiat currency then this can happen but the process that must be lived is very complicated because it should be able to believe in all parts of the community, because its should be online but if it is made as a fiat currency then it is very complicated, if the government supports all there is certainly a way.

That is true. Even Bitcoin is decentralized, I think there are only few Users that use bitcoin as a payment.On the contrary, A lot of people use bitcoin for trading to get profits.
Bitcoin is like a stock market . It is way to get more moneys to become rich.

Yes, until now there is no decentralized currency that has replaced Fiat, although the value is almost the same and between fiat currency and digital currency it will obviously be different ways of using it, although we must support and use the two currency models accordingly each other's needs.

The reality on the ground is that, though Satoshi had it in mind creating a decentralized cryptocurrency the low supply of bitcoin also make it decent enough to invest into. So there are two communities now: those using bitcoin as a currency and those investing in as an asset. You have to choose where you belong. There are online market stores that accept bitcoin as payment whereas there are platforms like Stakecube that allows users to hold their bitcoin for profits after a period of time.

Alternative is already there, it is still a quite achievement to have and I still think it is marvelous how far we have come so far with bitcoin.

If you do not think bitcoin is an alternative to fiat, tell me what other currencies other than fiat you can use to buy stuff online, there is no "currency" other than fiat and bitcoin in online shopping, stuff like krill or paypal or whatever are all payment systems and not currencies themselves, there is no stuff like "I bought 3 paypals last yesterday" or whatever. Which is why I think bitcoin is already an alternative. However maybe it can't reach that standard of currency, maybe fiat can stay forever and that is something we will never know until it really happens.

For now, surely the cryptocurrency is not yet tending to replace the fiat currency since fiat currency is still the circulating currency and it is the main currency of all of the countries, circulated by the central banks and already recognized by the community. Comparing it to bitcoin where there is still a small percentage that trusted bitcoin as a currency. A lot of people still don't trust bitcoin afraid that it is just some kind of scam or pyramiding scheme. I think bitcoin was still a great choice for just an alternative for fiat money for online use and also an alternative payment option for everyone, but surely we never know what is going to happened in the coming years I can't really imagine how bitcoin is going to be a currency that the government is going to use as the main currency but I think adjustments could go in the future.

Bitcoin is a coin that can be manipulated at any time and this is a game that you need to be more careful from the start. This market is not like a stock market because all the coins in this market rely heavily on Bitcoin and even a slight change will make many other altcoins vulnerable. I'm not sure what the future of this market will be like but this is the best place to make a profit if you have good knowledge.

The process towards adoption is already underway, as China has already spread word of making their crypto coins, Venezuela has already issued petro coins but seems less desirable. Indeed, many countries still recognize limited commodities but this is a good step

During this pandemic Digital money is the perfect solution - no touching, no transmission.
Digital currencies such as Tem which are actively in talks with governments to provide them with a national digital currency are going to come out of this stronger than ever.
TemTum is going $1+ when the economy settles and announcements about partnerships with governments are announced.

One of the ways or the surest way that would make Bitcoin to serve its main purpose is to be approved by the government. humans are mostly subject to government rulings. So, it is what they are told to accept that will be accepted. If the government eventually approves it, adoption will speed up and by so doing, achieve its sole purpose.
Even after its approval, Fiat will still be in use.

My portfolio is really hurting right now, apart from TEM which seems to be stable.
Digital currencies such as Tem which are actively in talks with governments to provide them with a national digital currency are going to come out of this stronger than ever.

That's a mere fact that cryptocurrencies cannot replace the fiat money but it can be a alternative for some payments especially for those who want to have fast transactions. Bankers will do a way in order to people to not patronize cryptocurrencies because they know that mass adoption can occur. Cryptocurrencies have a future but we should look the whole picture in order for us to understand what's happening in the market.

I look forward to the day that every trader and investor leaves the scene. "I'm here for the tech" is a meme until it's true.

Crypto will not replace fiat in the sense that the traditional and currently in power banking systems will suddenly give up their power and issue statements to everyone that they should use Bitcoin. This will never happen, and said institutions will only do everything in their power to hurt the mass adoption of cryptocurrencies as it threatens their business model as well as their power.

If crypto does replace fiat, it will do so because the masses are pushed to use it for some reason (Corona, banks shutting down, hyper inflation (coming soon to the USD), etc) and then they keep using it once the world returns to normalcy. The last possibility is crypto slowly gains adoption naturally and eventually becomes preferable to a credit card. However, I really doubt that will happen.

Regardless, I'm happy to be here without said adoption. Bitcoin offers a great and useful technology. If you aren't using it, you're the one losing out.

what way was that ? what bankers/banks can do to stop cryptos or to stop people from patronizing it ?  . they are too late actually because cryptos right now are already popular and the mass  adoption already happen long time ago .  

id be happy if banks/bankers starts to promote something like giving a good interest just to compete with cryptos  . for sure people will get attracted to that offer but i dont think people will drop cryptos after that but instead they will invest on both  .

Crypto is not utilized as a medium of exchange, but as an investment tool because of it's long term potential. As long as hoarding crypto is profitable there is no way it can replace fiat. One of the reasons why it is not yet suitable is it's accessibility. There are only few ways to buy and cash out crypto and not to mention we are not yet on the peak of mass adaptation.

From the title of your topic, it is very clear that this will never happen, although at this time many media outlets claim that VD-19 is infected through paper money, but certain countries do not use cryptocurrency to useas paper currency.

Maybe it could have happened in certain countries crypto used as a sale / purchase transaction in one country, but still in value in the country's currency, if VD-19 is not controlled.

For example:
People use crypto in transactions but still measure with fiat money, I mean, if you buy a car for $ 7000, maybe you can pay with crypto adjusted to the value of the crypto used, for example, you pay with ETH with a car price of $ 7000 enough to pay ... ETH is adjusted, with ETH value at the time of use, and so on....other crypto.

i am not sure anymore about what will happen with fiatmoney , if i look how many dollars are printed and pushed into the economy , i thought that was the reason why bitcoin was created , just to have 21.000.000 as a maximum and never more of them , let's see how long they can print more fiatmoney without getting in trouble because of that

it all has a theory. they do printing money because there are back ups in the back, like gold, silver, and others. however, it seems that this time the value has exceeded the back up itself. however, there are things that make them able to do printing money. because I feel that printing is impossible without a reason because it all has records.

I guess it's one reason that makes Bitcoin interesting, if all Bitcoin can do is work as currency there won't be much interest there but since it's on par with gold, come on, don't tell me Satoshi don't see this coming, he made it digital gold for a reason

Both can work together to achieve a far greater financial goal but people will always fall back to fiat in the time of recess as we've seen during this pandemic.

Crypto such as BTC and ETC are being accepted as payment in several stores now. But in reality, crypto will not replace fiat or cash anytime soon. Majority of people are still hesitant with digital currencies because most are still not aware of what it can do. But some people are starting to be open in using it for normal transactions like payments. Instead of replacing, it can work alongside fiat to provide seamless transactions to users.

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Fiat is also a great way for us to see our profits physically, and we can save even more profits because of fiat, how? well you just have to sell one of your tokens in a high price and then spend your fiat while you're waiting for another ALL TIME HIGH price, simple as that, because if they will not coexist with each other, our profits will also fade away in a point which we will never notice since all we care is that it will pump again anyways.

For me fiat money despite everything exist since it is the identity of our country while crypto will get popular and known yet it cannot  supplant fiat. The motivation behind why it cannot be utilized as fiat since it is unstable and no fix value, not working particularly in our day by day lives yet the beneficial thing about crypto is can give us additional income, can utilized sending money. Perhaps after numerous long periods of being perceive, there is probability crypto will be utilized as fiat since we are presently around of technology

In fact crypto is more popular to be used as an investment asset even for most users here also to do so, one way that can make crypto as a currency is an adoption for real use for everyday life, but in reality it is difficult to implement because it is a factor of its price that is easy to go up and down is also one of the other causes why crypto will not be able to replace fiat currency.

Price volatility is one of the reasons why many users are still hesitant to use crypto as payment method. Up until now, most of us see crypto as an investment and not as day to day payment method. With its volatility in the market, most of us are hoping that one day, bitcoin for example, will shoot up its price and gain profit from it. so as much as possible most crypto users will prefer to hold their bitcoin rather than spend it. if that kind of thinking is always there, it would be hard for crypto to gain massive adoption in the payment area.

But we are slowly gaining adoption as more merchants are trying to include crypto in their payment system. If that is available, a user will be tempted to use his crypto if that is convenient to him at that time. But crypto as replacing fiat, that is still very very far from its horizon. Only small percentage of global population are crypto users at the moment. Here are some articles that will give you idea what percentage we are now in 2020. Still small though...

https://cryptopotato.com/report-only-23-million-entities-hold-bitcoin-which-is-0-3-of-the-worlds-population/
https://www.bitcoinmarketjournal.com/how-many-people-use-bitcoin/
https://icomaking.com/how-many-people-own-cryptocurrency/

Cryptocurrencies were meant to be an alternative to the traditional fiat. When we use fiat we've got certain limitations on usage, and the same isn't there with cryptocurrencies. Based on this I believe it is upon the need people have their own choice of going with traditional fiat and cryptocurrencies.

When we talk of cryptocurrency replacing fiat, the possible chances were very low. Always people have a thinking of one better over the other, but the same doesn't make them move to it completely leaving the one they've used to it.

You speak the truth, your thoughts are very good on this. Now everyone in the world who is working in the crypto currency market is working with investors or as a business place only . Now is not the time to make yourself as a cryptocurrency fiat currency . There are very few people in the world  who have done the bit about bitcoin or cryptocurrency , So we should all inform everyone about this .

There is a general pattern of some substitution of money by their non-money types. We are discussing all non-money types of payment and not simply digital currency. Subsequently, digital money will absolutely make its job right now. Be that as it may, our reality isn't yet prepared for the total supplanting of paper cash with their non-money types. This is a long procedure and it relies upon numerous variables. Numerous states are currently chipping away at the issue of their national stable coins and, as one reason for their appearance, they show exactly the positive pattern of halfway supplanting of money with computerized monetary forms. We are heading off to a non-money society, be that as it may, there is no requirement for surge on this issue

I agree with you, crypto currency will not replace fiat. I think it will just help to reduce the burdens that fiats do cause.
For example, you need alot of transfer charges, and lots of documentation to send money across international borders; but with bitcoin, you need a very less transaction fees

With few firms, accepting bitcoin as payment mode for large transfers; then the future is bright.

Well,  I don't really know,  however,  takng a cursory look at the International Monetary Fund (IMF) postulation lately, it is crystal cear that the US dollar is not the only accepted international settlement currency in the globe , the US dollar however yet accounts for about 61% of all known central bank foreign exchange reserves. In addition, 40% of global debt is denominated in US dollars, and the dominance of the US dollar in the foreign exchange market is quite crystal clear, owing to the fact that 90% of foreign exchange transactions is premised on the US dollar. Similarly, as early as the global financial crisis broke out in 2010, concerns about the international community's over-reliance on the dollar began to surge. It is reported that about 65% of US dollar banknotes are used overseas, not only for value storage, but also for hard currency in daily transactions. From these data, it is apparent that the US dollar plays an important role as a widely accepted medium of exchange, unit of account, and means of value storage. But what about digital currency? Will there be a strong competitor to compete for the top spot, or is the rise of digital currency more likely to lead to another situation, time will surely tell with fingers crossed

yes,  people prefer to use cryptoqurrency in the form of investment because, cryptoqurrency is a profitable digital currency for investment, especially like Bitcoin. We all know how the beginnings of bitcoin emerged until now. It has also offered a profitable investment and I don't think it's possible that crypto can be used as a fiat currency or like paper money.

When Bitcoin was invented, it must be a moto to use it against or as an alternative to fiat currency. This was achieved to some extent but today's picture is totally different. Every system of the project is bringing their ow currencies which in turn making it more difficult for transactions.
The moto of cryptocurrency is an alternative of fiat currency but today's situation is that fiat currency vs multiple cryptocurrencies. These require multiple trading platforms or exchanges, multiple wallets as not a single system can accommodate all cryptocurrencies. So this is becoming more and more lengthy and project-centric.

Its possible if many countries will adopt and recognize crypto. If this happened merchants (whether small or big) will consider accepting crypto as one of payment method and many people will start to use crypto as well for digital payments. But in reality it cant totally replace fiat, they can work together but replacing is not going to happen anytime soon.

You have a point there, but i believe time is very near for us to see the mass adaptation of cryptocurrency.It is true that crypocurrency would replace fiats but i think this is not the right time yet,let the world adapts first to cryptos then i can say it can replace the fiats steps by steps gradually.

Its like saying before the machineries wont replace human workers but yeah, not replace but more of the companies now are using machineries.

Indeed, replacing of cryptocurrency to fiat currency would not happen just like what other says about it. It will be really hard for us to use cryptocurrency as a standard currency in real world especially with this feature of being volatile. How can you imagine to use bitcoin or any cryptocurrency to buy some foods on market or buying some foods with lower price. The inventory system would be hard also for them to record because of changes of price time by time.
Cryptocurrency will be only as an alternative currency for fiat currency that is how cryptocurrency works.

Fiat currency will always be fiat currency nothing can replace it. One people can easily move it around, its accepted everywhere. Cryptocurrency is accepted in only few stores because some merchants cannot use cryptocurrency daily.

Lots of hacks, lots of phishing, lots of people who don't know how to use crypto, which is one factor if crypto will never replace fiat. And as you said, crypto is only liked by everyone for investment

I agree with what you say, but hacking, phishing, and ignorance using crypto are not the right reasons. In fact, many people do that to take fiat from the bank. however, this technology is unstable, which is what makes many official companies reject it, such as steam when they accept bitcoin, and then put it out because of very volatile prices. just like you buy a bicycle, if today you buy it at a price of 0.05 btc, it could be in a few days the price becomes 0.02 or even higher than 0.05 btc.

Crypto has not been widely used in my country yet, but in recent years a lot of big companies are starting to use this form of payment to make things easier. Of course this rate is very low and can not occupy 1% compared to fiat so the market needs to become stronger and investors have absolute confidence when using payment in crypto.

You are absolutely right and have raised issues of major concern as to whether BTC is fulfilling its key fundamental as a true currency. Well, there are many glaring and underlying issues that will not make people tap into the currency feature of bitcoin and amongst them are high volatility and extreme market manipulation. If these issues are not addressed, investment option will still be people's preferred choice instead of using it as a true currency.

A long time ago, many felt that crypto would easily replace fiat by 2020. It's so sad that this future is quite bleak. There has to be some form of regulation from governments before any crypto can replace fiat. With the volatility in crypto it is highly unlikely that this will ever happen in the next 50 years

Bitcoin supply should be unlimited if Bitcoin only made for payment solution. Bitcoin is getting more and more popular because of it privacy and security. Without any third person we can make any deal with this Bitcoin. You can hold your any money in this Bitcoin. Fiat currency always has different uses than cryptocurrency.

There are people who will always prefer to deal with fiat currency rather than crypto currency. There is less volatility of fiat currencies compared to cryptocurrencies. In the long run, I think both will exist alongside each other.

And that's majority of the people, as not every are willing to take the risk, when they use fiat, there is no risk but with bitcoin there is due to its volatile in nature. We should understand that and let us not expect crypto will be greater than fiat in the eyes of the many.

They will co-exist as more payment platform will gives us better options, but like I said, fiat will always be in the top.

The main issue is still its high volatility. It causes more fear and gives a drawback. Not everyone is bullish about cryptocurrency, most especially bitcoin. For the fact that we still have people who panic sell or buy too hastily, there will still be difficulty in adopting it as a replacement for fiat.
Fiat is more stable, which is why it is used to back up some stablecoins . We still need fiat irrespective of how useful crypto might be tomorrow. It will only be used as an alternative, perhaps where it is accepted.

Not easy to know anyone what is going on others mind. Why Satoshi created Bitcoin is up to him but situation is after created which way Bitcoin is going. Bitcoin needs transaction confirmation which is mining and don't even know any third person. Bitcoin main focus was making privacy without any third person where Fiat currency never out of control any government.

Currently the fiat currencies are based on different kinds of gold as stable currency which is controlled by the central bank and commonly use by our real market for payment in my opinion there's no need to eliminate whereas cryptocurrency and fiat is suitable to used and it seems like peer and it is important during this economic crisis.

yep bitcoin is a currency but Satoshi Nakamoto made volatile coin so it can be investment, people sees the opportunity to make money with bitcoin. If this bitcoin is just for virtual currency he should make it stable coin.

I agree with you, crypto can not replace fiat at least not now, maybe that can happen in the future, they both serve important purpose and can work alongside one another for better spending experience, we not also forget that fiat is always the preferred option when the market is crashing, many people often cash out to fiat, which evidently shows that we all still need fiat, i think it will be better if they both coexist rather than one replacing the other, but who knows what the future holds.

Well to be honest, the volatile nature of cryptocurrency gave people no choice than to use it as an investment option where they take profits due to the up and down movement of the market. No doubt, the concept behind cryptocurrency was to provide flexibility but the current state of the market dosen't promote that due to many reasons such as Network clogging leading to delayed transaction processing, the volatility nature that might made a person loose monetary value in a short time. I hope the cryptocurrency market gets better

Blockchain technology implies using the Internet as a world computer, this is the main idea. Cryptocurrency is one of the blockchain industries. It can exist along with fiat. Now the pandemic has shown the full benefits of electronic transfers. Fiat in quarantine is even dangerous.

In my own personal opinion, a lot of people are expecting that cryptocurrency will be replacing fiat currency in the future because of it's usability and fast transaction. But it is impossible for cryptocurrency to replace fiat currency because the government are the one's who controls fiat, and cryptocurrency is well known in illegal activities that it is being used in selling drugs, weaponry, and other illegal things in the dark web, that is why a lot of country banned bitcoin.

As of now, cryptocurrency is having a purpose entirely different form that of fiat currency. There is only minimal overlap, in the function of these two two assets. The conclusion is - cryptocurrency is not competing with fiat currency for market share. The real competition is with some of the other assets, such as mutual funds, bullion and real estate.

but crypto currencies still need fiat currencies, if there is no fiat currency then crypto currencies will have no value,
we have realized that, the world can change if all countries use crypto currencies

At the moment, cryptocurrency is not even able to closely replace fiat currencies.
After all, a fiat, though not always provided with something, personifies physical values in the world.

If for some reason the world is left without electricity, we will not be able to use cryptocurrencies and digital assets.
However, we can always use cash, provided that the old financial system will still function, and I am sure that it will.

I think it is not helpful to ask the members of this forum, because most of us are not game controllers. Those who truly control will always want Bitcoin as an investment tool to make a profit, because they own a lot of BTC

the present consideration is not even finished yet. so many governments support, reject, and even be neutral about cryptocurrency. many weaknesses that crypto has until now that makes it unable to replace Fiat. for now, cryptocurrency is only used as an alternative. in addition, the use of crypto is still quite difficult for those who do not really understand technology.

Until now Yes, Bitcoin hasn't been able to replace fiat money, But we do not know going forward, especially if there really happens a terrible crisis because the Corona virus. I once read an article that discusses the global conspiracy to realize the digital world, Of course their main point is money, They want to replace fiat money with digital money. Just wait and see what will happen.

Digital currencies will have their haven in the world in the future but now it's not possible yet, once we go fully digital then digital money will have better chance, replacing Fiat is only impossible presently but not in the future

Indeed, it can work and exist together but there's no need for crypto to replace fiat completely. There are things crypto cant do like payment for buying goods in an small store, we know many people are still not aware of crypto existence while fiat cant be an investment due to the stable price.

Because there is no replacement that will happen and even that mass adoption comes in our way still Fiat will remain and continues to be used.

I have seen so many thread such as this but yet there are no good explanation why Fiat needs to be replaced and why need crypto must remain.

Crypto is true an advantage but yet Paper money is usable in some areas of the situation ,though things may change if the whole world will find ways to make this possible of course very rarely to happen that the world will stand in one thing together.

We don't need cryptocurrency to go fully digital, look at china they are cashless society where paper money is rarely used, and they achieved it without using crypto, cryptocurrency will not replace fiat ever.

The transition of stable and noble cryptocurency to serve as Fiat is a very big one that the Fiat generals are trying to make sure it dosent happen. With this also are the scalability and volatility issues that needs to be taken care of. But still I am hopeful that it will happen but it will take a long while.

I only consider a few cryptocurrencies to be good, but these few cryptocurrencies cannot replace the first we are using. Bitcoin is a good cryptocurrency, but the world can’t be using one currency, so there will be need for other currencies.

My thought is that cryptocurrencies are not really going to replace Fiat, but there will be some areas where they will be needed. You can take Ripple (XRP) as an example: their main purpose, as explained on their siteis to be a mediator for other exchanges. Bitcoin might still remain the peer-to-peer type of payment which it was created to be. As for the other altcoins, I don’t know where they will be heading to. The government also have their own plans to create cryptocurrency that’s going to be backed by fiat.

I don't see cryptocurrency fully replacing fiat, even though Bitcoin was created as a means of payment but remember, not all people around the world have been able to get the knowledge, practicalise using and adoption of cryptocurrency. Even some governments haven't adopted it fully and so on.
We still invest with fiat currencies and so nothing is wrong with investing in cryptocurrency.

It's part of the progress of cryptocurrency. Just like what they tell about cash being the king, the same goes for cryptocurrencies.
The main idea is still there but it has evolved over time and we should be proud of it seeing how these things are changing thus, making crypto useful and valuable.

Cryptocurrency would not replace Fiat money because each has it's uniqueness not all the countries have adopted cryptocurrency and not everybody knows or have knowledge about cryptocurrency and people can invest with Fiat currencies too, so I don't think it's wrong if people invest with cryptocurrency too. As a matter of fact I don't think Bitcoin has been derailed of its duties, most of the people that have it use in for transactions and also for investment which is not bad, so I think it's still moving in the right direction

yes, although the purpose of bitcoin as a transaction tool is like a paper currency but it is unlikely that can happen. in fact, there are still many countries that do not recognize or do not support the presence of the crypto industry. on the other hand I think people prefer to use crypto only for investment tools. especially like BTC is a profitable investment.

I really think it will in due time, not now of course but it will come a time. We just need some massive adoption which would not happen now given the different market situation in every country. But it would still be great to see it happening.

This is hard to believe, you said crypto can't replace Fiat but Central bank plans to release CBDC soon, the future I see is digitalization, the time will come where Fiat won't be a big deal anymore but do find time to do research on vendors and places where crypto are been used as means of payments, you will be amused

We can't stop investment, who invest only in making profits. Like the internet was invented for a good reason but some people are using it for bad purposes. It doesn't mean that we're not using Bitcoin which purpose Bitcoin was invented. Different people always exist and these people will take some time to use in real cases.

CDBC will act as an alternative for the digital payment, especially for fiat currency. That means fiat will still exist. China has already released its digital yuan and it doesn't mean it will replace the physical money of yuan

great explanation mate, of course "few" people who use bitcoin are for investment like me, and  we cannot be completely separated from FIAT we still need them.

usually not many super/mini market are support electronic payment moreover for common people who are not understand about cryptocurrency, that's why i think bitcoin is alternative investment but have value more than invesment

Fiat money will never be replaced by crypto, cryto is just an alternative for digital payment needs and investment tools, many countries have created their own cryto currency and even then to facilitate its users

I'll be a bit skeptical about this. We can't know that right? Therefore, we can't be so sure cryptocurrencies can't replace fiat money. In the future world, anything can happen unpredictably. One thing for sure we can know is that cryptocurrency market will keep expanding and raising in the future!

indeed it was created to make it easier to do transactions but because the price of bitcoin that cannot be set thus making some people forget about the main purpose of bitcoin, they use it to get profit

event bitcoin popularity are growing massively, but we still need FIAT for any traditional transactional, i just think Bitcoin and other altcoin are just alternative investment with big potential to grow up and valuable than Gold or other investment