Bitcoin Forum

Today, i was discussing with my friend about bitcoin, and we argued that the world is trying to make bitcoin look like a currency, replacing fiat majorly and used as payment everywhere.

I want to ask a question, if there is a Bitcoin ATM card, and you want to use it to pay bills such as an hotel booking, will the payment reflect instantly while the atm machine or Miners still has to process the transaction?

Also, let’s say in the aspect of payment for services, would you have to wait for minutes? Or hours if there are large transactions to be processed, we are talking of when adoption eventually takes place in the world.
Remember what happened to binance yesterday when India lifted the ban on cryptocurrency, even binance exchange had to do a quick maintenance.

For me, i do not think bitcoin can replace fiat totally, because when their are larger transactions to be processed, it takes hours or even a day, except you have to pay Higher fees to process your transaction.

I will love several suggestions below, to further enlighten and brighten my knowledge.

I am still of the believe that It’s hard for any coin to beat bitcoin and be the number one major King Coin in the crypto industry even with scalability being the major problem.

Imagine if I have to pay for a service and it’s taking longer before confirmation of payment. Yet, it’s hard for another coin to overthrown Bitcoin.

Which coin is the best coin to be used for scalability right now, If there is truly one, why are they not fixing it right, now. So as to convince the world that scalability isn’t a problem, so many coins have tried in the past and failed

Does anyone have a few examples?

I bought a lot of different goods with Bitcoin and it always worked smoothly, which brings me to the conclusion that Bitcoin is a currency AND a store of value. Esp. 2nd layer solutions like Lightning brought instant confirmations. Bitcoin ATM cards are not needed to make payments.

Probably you dont need a physical bitcoin atm card, since bitcoin is digital and used to transact with different establishment.

I am using my btc to pay for some of the hotel, airline ticket and some reload balance so I cant say this can be considered yet as a currency but I am grateful for it as payment method to which I am always need. Some can say its not that worth it but for users like me. It is very useful.

That's not an issue for some stores and restaurant that accept BTC. Yes the payment could be delay but the tx has been done. It's just needed time to be process. Well scalability must be improved. There are many users that using the network is a prove that adoption is increasing.

Used this OP.

The world doesn't make it like a currency, but indeed it is created for a digital currency from the beginning (electronic cash for online payments). Please read the Bitcoin whitepaper for the detail information: https://bitcoin.org/bitcoin.pdf.

Replacing fiat? Who said? Even on Bitcoin WP, I don't see Satoshi's statement saying "replacing fiats".
I don't think it will be fully replacing fiat because Bitcoin still has a weakness that can't cover people's needs around the world. But surely it will support and complete the current world's financial system with its advantages.

Why do we need Bitcoin ATM card? If there is a more effective way than using ATM card, people surely don't really need ATM card. Personally, I prefer to send Bitcoin from my wallet than using a service from a third party. Remember that Satoshi created Bitcoin in order to avoid the third party. No third party service will make faster, easier, cheaper, and more efficient transactions.  

*In my view, using services of the third party just make a longer process in the transaction.

---

Bitcoin whitepaper: https://bitcoin.org/bitcoin.pdf        

One thing that OP needs to understand is that it was Satoshi's vision to create Bitcoin as a digital currency to be used as a payment method in our daily lives but the design of it currently does not make it suitable to be adopted by over 7Billion people in this world. That would certainly jam the network but with the development of Lightning solutions, we hope to see confirmations made as fast as possible. So now bitcoin suits more as an asset than a currency because only a few people actually use it to make purchases.

Thaths all about transaction processing time. Of course, bitcoin is not the best payment system

Fiat has been here for a long time, and will be around for a while until it is completely replaced by digital currencies. The question is only how many years or decades will it take to completely disappear from use.

The big transactions you mention are not a problem for crypto, you can send $1 dollar or $1 million in BTC, and it just depends on the fees when the transaction will be confirmed. Only thing that we need to pay attention is size of transaction (number of inputs/outputs), and to use SegWit if we want to save on fees. If your transaction is had 1 input/2 outputs (standard transaction), you will pay same fee regardless of the amount you send.


As you can see from the example above, transactions in crypto can be very cheap, but you need to consider all the key factors when doing payment with crypto. If you need instant transaction, check current fees and apply them - if you can wait, just go with lower fees.

I use Bitcoin as currency, but also as store of value, one does not exclude the other, and this is one of the great advantages of Bitcoin.

Many people today are using the cryptocurrency or the most popular bitcoin because it is faster to transfer funds and also efficient than the use of the traditional way of transferring of earnings and profit, some of the people today are still afraid to the use of cryptocurrency because they know the misinformation came from the other sources that it is illegal, can cause of hacking and more but the truth about this bitcoin is its created to the future that we are heading towards on it, all of the transaction today are faster than the old way and also it is more secured because all of the transferring of funds are monitored also it is just for both parties that sending their funds and every transaction with the bitcoin is included with hashing or encrypted and the only one can decypher is the receiver.

Actually Bitcoin needs fiat currency to fuel its global value. Therefore it will never replace fiat in actual world. On the other hand Bitcoin is a digital currency and will replace fiat for digital transactions. The adoption is slow but gradually it is happening, considering Bitcoin is only a decade old.

With Lightening network you can send min 1 Satoshi and the payment is also instant.

Ok, i think i agree, but to my knowledge, lightening network is expensive as it consumes alot of power per transaction and it is not functional yet.

Litecoin and some projects only talked about it, but nothing yet.
Even recently, Matic has also made mention of it, any project yet finalized the lightening network ?

Bitcoin is one of the largest cryptocurrency that has surely lots of investors in different country. It will be very hard to any competitors (not in bad terms) to beat or to become the top one in the digital currency. Bitcoin is the widely known digital currency. So I think, other coin cannot surpass bitcoin but they can go in the same level.

Bitcoin ATM isn't necessary right now since we can create a transaction thru digital phones only or other digital things.

I have used my Bitcoin to buy things online and it went ok. I also used Bitcoin in other things (converting it into Fiat and buying other things). Regarding the Bitcoin ATM and the current state of Bitcoin right now, we know that the transaction speed of Bitcoin is not as fast as other ways of payment but still there are some developers who are developing a solution into it and LN is one of them.

I don't think that too but I think that Bitcoin and crypto in general will be an "ALTERNATIVE" mode of payment aside from the fiat currency that we are using everyday. If Lightning Network will be use by many people then more and more establishments will accept Bitcoin in my opinion.

True, bitcoin won't be able to completely replace fiat currency. People who think that bitcoin will soon take over the fiat currency system, are just day dreaming. The sad truth is, there are a lot of flaws in the current cryptocurrency system, mainly in bitcoin to be used a regular fiat currency. Like you said, the transaction confirmation time is one of the biggest problem. If one will have to wait more than 10 minutes while making purchases for their transactions to confirm, then its going to be really annoying. Unless some sort of plausible solution is found, it can not replace the fiat money completely. Though I do believe that bitcoin and fiat currency will be used side by side in harmony.

That's right it's not necessary because other establishments used QR codes when accepting Bitcoin as a payment. I dont think if there is a Bitcoin ATM card, all I know is a Bitcoin ATM machine where you can buy/sell your Bitcoin.

As mentioned above, the Lightning Network will solve the problem for micro payment and it is faster than the regular transaction of Bitcoin.
If you don't understand what is Lightning Network you can read it here for more info, A Beginner's guideline to Bitcoin Lightning Network (https://bitcointalk.org/index.php?topic=5202798.0).

I dont think Bitcoin can replace fiat, they had a different function and both of them are useful to us. Just accept the fact that Bitcoin is good for an alternative when it comes to payment transactions online. Yet, Bitcoin is the number of digital currency I had ever known.

That's true, but it works all fine as a currency until it comes to the fees. I've placed some orders on a website and all went very well until the day I found out the fees they took for every transaction was actually more than 5%.

That's a turn-off for me.

Erm, it isn't supposed to change/replace currency. Probably a lot better for it to stand together with currency as mode of payments.
Erm, not sure but fees are made from exchanges. They are requested so that exchanges actually have a source of income to manage the equipment/servers/etc. they use to process transactions and the like. Now, if we use BTC as payment, a p2p format would probably be better with it having no need for fees (AFAIK) and being faster compared to exchanges when dealing with big transactions.

Personally, I don't think that Bitcoin ATM is that aligned with its decentralized feature, in fact, it is contrary to its existence as digital currency. Upon the various transactions that Bitcoin can be used with, I think it will be different in every establishment and situation. There are urgent expenses that should be taken into account immediately and there are establishment or individuals who do not acknowledge cryptocurrencies that significant which are some of the challenges that both Bitcoin holders and the market might encounter. At this time, I do not think that Bitcoin is capable yet to replace flat, but its function as a currency that shall be used as payment has been served well.

Actually, the Lightning Network is considered a solution that allows cheap small transactions, even though there are some 'buts' in that. And the LN is functional and there even start to appear some companies that accept the payment in Bitcoin LN. For instance, this famous Lightning Pizza (https://ln.pizza/) website allows ordering a Domino's pizza and paying with Bitcoin LN.
As for the general question about currency vs a store of value, for me, Bitcoin is currently more about #2, but if it were easy to pay for stuff I currently buy with fiat with Bitcoin, I would be very interested in that. And it's not absolutely impossible, many problems can be solved.

As our technology is constantly developing, some features in the bank are also developing. But we don't need ATM for bitcoin as of now, we just need more people to understand how bitcoin works and how important it is. Mass adoption is all we need right now so that the government and world economy will make a bitcoin withdrawal through ATM machines. Most likely, this machine should be in a highly secured places and is guarded by a security. But in reality, bitcoin is known just for a store of value because its price is not constant compared to the fiat currency that is stable when we use it in our daily lives.

We are of the same mind. I like bitcoin, but I'm not interested in using it as a payment tool, it's not effective because the volatility is very high. It could be that you buy a cup of coffee for 0.005Btc, and a few months later at the pump, with the same nominal you can get dozens of cups of coffee. With these facts, BTC is more effectively used as an investment tool. and other technical matters related to the duration of the transaction, fees, etc. as you mentioned also reduce its effectiveness. But it is undeniable that someday it can get better and this shortcoming can be eliminated, but for now fiat is more effective as an instant and small scale payment.

I do think it is quite variable , when we talk about the bitcoins it depends on individual to individual basis , maybe someone plans on transferring their money overseas and the government is charging a lot then comes the baking fee and it is quite difficult to proceed .
In this case I do think using bitcoins instead of the Fiat will give good results .
Contrary to a person who plans on going to a market spread the market is street market , you cannot just go around asking people if they accept BTC , plus you cannot make small small transactions even with the lightning network , you would still pay more.
Therefore I think a lil bit of both does the trick .

Using stablecoins as cryptocurrencies is the worst thing you can do. Stablecoins or fiat is the same shit. USD inflation will be absolutely equal to USDT inflation. You'll own just as much shit fiat as you would if you keep your money in banknotes.

You can't get rid of fiat without having to experience the negative sides of it.

Are you talking about network fee (miners) or some fixed fee which was added by the seller? Most of those who accept Bitcoin as a means of payment use intermediaries (payment processors) and extra costs can occur exactly in that part of the payment. Also, if the primary price of the service or product is expressed in fiat (and usually this is case) most payment processors will charge you at premium BTC price, which would mean that paying for the same product or service with BTC is a little more expensive than paying with fiat.

When it comes to network/mining fees, it always depends on the state of the blockchain/number of current transactions in mempool, and as I show in my previous post, it is possible to send hundreds of millions of dollars worth of BTC for only $0.10.

Bitcoin doesn't need to replace fiat wholly to be considered a currency, even if only a small number of people use it, it's still a currency. Todays transaction fees don't stop Bitcoin from being a currency, and we don't know just how high they will be in the future, since it depends on Bitcoin's popularity. But even then we have the Lightning Network which tackles scalability, so Bitcoin can easily be used by millions of people. And being a currency or a store of value don't contradict each other, Bitcoin can be both.

Right now it isn't really suitable for payment or be consider like other currency because of it's volatility.
And others wouldn't use it as currency even if they could because they don't want to miss the chance to gain profit by holding it.
I think it is still early for it to be consider as a payment option once the price get's stable then maybe people would try to consider it.

In terms of payment and small-scale transactions, I think one doesn't need to have such an "ATM card" that would be used to pay bills. Bitcoin is digital, and a lot of people have proven that transactions were smooth and though there are gaps, they were only of a small percentage. It is unavoidable to have minor problems that must be fixed because Bitcoin isn't all that perfect. Connection isn't always fast and there could be a minor traffic. I agree however that Bitcoin cannot fully replace fiat because of its volatility. It can be a reserve, one that can be used anytime, anywhere, as long as it is functioning.

Acceptance to bitcoin as a currency is enough for me to consider bitcoin as helpful to the community, though, implementation of many Bitcoin ATM's is quite helpful in times like this that we seek for alternative payment options. The problem I find about bitcoin suitability to be widely accepted is what OP has stated, if whether bitcoin could sustain its services when a very huge volume of transaction is about to occur.

I think that problem could be solve by improving the bitcoin's blockchain system, or else, people could treat bitcoin as a store of value, and use altcoin for their daily transactions which could make cryptocurrencies even more active.

I don't know about bitcoin ATM because I never try to use that machine. But I think bitcoin is suitable as a currency, and we can use bitcoin to make a payment for anything we buy at online or offline. I think it is the same as we use transferring the money from the bank to the merchant, we still need to wait for a while before the transaction gets confirmed. But yes, I don't think bitcoin will replace the fiat because that will require an agreement from the government itself, but I would like to see bitcoin can work together with fiat to help the payment system works better.

I still use fiat to pay the airline ticket, the hotel, and else because right now, I feel it is better to hold bitcoin in my wallet and withdraw the bitcoin into fiat to buy something I want.

The adoption itself still running until now although we don't know how good people attention about bitcoin, I am sure that the number of people who will use bitcoin will grow by itself.

How many times do we have to discusse and argue about this. I mean, literally it cant be a country's currency but it is a digital currency which can be use as an "alternate" monetary service. And yeah it can be a store value at the same time, a "digital gold" called by them. Since the volatile market can become a good point to make it as a valuable investment.

Reality is that we all preferred paying in fiat than spend our bitcoin with higher fees and slow transactions. So majority use it as a store value rather than use it as digital payments.

I think bitcoin is suitable as a currency, and is already used on some platforms already to make purchases around the globe.
For me, i think the mistake is thinking that bitcoin will replace traditional cash policy that we have.

Bitcoin is a good asset, and an alternative payment method, and it will co-exist with fiat.

Bitcoin and the cryptocurrency must just be used as an "alternate currency" because it will not live if the cryptocurrency became a real currency so it may be just be as good if it is just a digital currency because it is just always back up by the United States Dollars so that it is always that kinds of high and if this became a main currency then probably it will be hard for us because cryptocurrency will be just have a stable value just like the FIAT money.

I understand what you’re trying to say man, and you’re right, I’m not going to lie. When you ask this kind of question in a bitcoin forum you should know that no one is going to tell that Bitcoin is bad or whatever, no matter the situation everyone will always side with Bitcoin because this is a Bitcoin forum.

Bitcoin cannot fully replace fiat because there are ways that fiat is very important and better than bitcoin and Bitcoin also has its own ways of being better. Judging from the example you gave – I don’t think you can do such transaction with bitcoin right, it’s not going to be an instant transaction, unlike when you’re using fiat services like debit card and PayPal and the rest of them.

But like I said, everything has ways that they are better than the other. And judging from the way things are going I don’t think that Bitcoin would be the replacement, governments are already creating their own cryptocurrencies.

I don’t have a Bitcoin card for one simple reason, there is nowhere to use it, the nearest Bitcoin terminal is located at 2 hours of flight by plane. Therefore, there is no need for such a card for me yet, although for the sake of interest it could have been issued.

Just as you have stated yourself, it is hard for any token to beat bitcoin off its perk.
They all thrive off bitcoin price movements, and only few tokens have been able to moon without bitcoin doing otherwise.

Regarding payment confirmation, i think bitcoin is still cheap, even when the blocks are busy and there are lots of blocks, a gas fee of 1.5$ - 3$ to send over 10 btc is the cheapest you will find any where in the world.

Just do not panic and do it right.

Yes it's true that Bitcoin is useful as a store of value. That's why I'm always trying to multiply my bitcoin and one of the best sites I've discovered is https://cryptiplier.com. Check it out.

From the discussions that I have read from this thread, I have to say that I do agree that bitcoins are more of a stored value rather than a currency. It makes sense as it’s more on mobile transactions, it’s a form of payment but not to be considered as a currency as there is a corresponding value per bitcoin.

Hi Ifemini, Cryptocurrencies such as Bitcoin do have scalability issues however there is technology being developed that will drastically help with that. Currently, if you use a Visa card for purchases or paying bills, it can handle 24,000 transactions per second, meanwhile in comparison Bitcoin can only handle 7. However you may have heard the term 'Lightning Network' in reference to Bitcoin. This adds another layer to Bitcoin’s blockchain and enables users to create payment channels between any two parties on that extra layer. These channels can exist for as long as required, and because they’re set up between two people, transactions will be almost instant and the fees will be extremely low or even non-existent. So yes, one day, hopefully soon, the use of crypto to pay bills, etc will be used more and more, and traditional fiat money less.

To answer the question you have asked about using bitcoin for transactions and how fast it can be - the truth is that bitcoin is not a fast payment method. There are lots of other cryptocurrencies that are faster than Bitcoin when it comes to carrying out transactions, I can remember the last time I used Ethereum for a transaction and how fast it was; the person receiving it got it instantly, unlike bitcoin that would take some time.

There are also other altcoins that are like that and really fast, but I don't see any of them replacing bitcoin, bitcoin is still going to remain at the top, though I don't think it's going to replace fiat system.

I can't agree that Bitcoin is not suitable as a currency. Yes, it has certain issues and transactions speed is one of them. However, there is a room for progress and many people use Bitcoin as a currency and payment method, including me. I don't believe that Bitcoin is made only to sit idle in some wallet without being used in real world for real purposes.

It never takes hours or a day for me. It used to be like that in 2017/18 when the network was spammed by small transactions to make it look like BCH is the better coin because it's faster.
Most BTC transactions these days are included in the first or second block, which means that  you will have to try hard not to get a confirmation in 20 minutes.
If instant transactions are a must for your business you can use a payment processor like most online stores do.

As far as I know there's no Bitcoin ATM card yet but if it will have soon then that will be probably good. However, I don't think Bitcoin need this kind or card since mostly transaction held online.

Just like you pal, I don't crypto especially Bitcoin could replace fiat due to the fact that most of stores and other transaction is not ready yet for this kind of monetary system, so basically we aren't not fully ready yet.

One thing, crypto varies on how we will use it whether as a currency or a store value just like gold. Actually, I even once used some of my coins to buy something, or spend it into something but I do consider it as a store value. For me it is a currency and a store value at the same time.

Based on my observation about the ability of the bitcoin when it comes to a currency, it is not enough compared to the proven and trusted fiat currency. I'm not against bitcoin, I'm just stating the fact that it lacks some features compared to fiat. It will never replace fiat because a digital currency is only for the digital world not for an actual thing. Most of the people really know the truth and accept the reality about bitcoin that it is only for a store of value. Its volatility in the market is the proof and the reason why it is not effective as a material in many transactions. Both have their own advantages and disadvantages, but the most reliable is the one that is accustomed to the community and comfortable to use. Bitcoin needs to undergo a lot of process before having a lot of transactions and that's what make it hassle to use.

I purchased various merchandise with Bitcoin and it generally worked easily, which carries me to the determination that Bitcoin may be a cash AND a store of serious worth. Esp. second layer arrangements like Lightning brought moment affirmations. Bitcoin ATM cards aren't expected to form installments.

One thing that OP must comprehend is that it had been Satoshi's vision to make Bitcoin as a computerized cash to be utilized as an installment technique in our every day lives yet its arranging at present doesn't make it reasonable to be received by over 7Billion individuals during this world. that may unquestionably stick the system yet with the occasion of Lightning arrangements, we plan to find out affirmations made as quick as could be expected under the circumstances. So now bitcoin suits more as an advantage than a money on the grounds that solitary several individuals really use it to frame buys. :)

Yes, my friends and I have also bought computer components with bitcoin. We even lend in bitcoin and receive high interest from it. but I think it only works for small numbers of people. especially for traders or holders like us. but letting the whole world use bitcoin doesn't. Bitcoin is originally a coin that can be heavily manipulated and it is not good to hold it in our daily wallet. Think about it, you bring your wallet with 1 bitcoin for $ 3000 to buy a motorbike. But when you go to the store, the price of bitcoin is only $ 2k6 and you absolutely can not buy a motorbike anymore. Therefore, volatility like bitcoin should not be a means of payment. It is very inconvenient.

I keep hearing people tell me this, usually when they're trying to shill their own non-usable, no-community, no-merchant-work, no-use-case altcoin.

I use Bitcoin at least once a week as currency. I'd use a lot more if I earned a lot more. Covid. Lockdown. Paycut. You get the picture.

Yes, I agree it's a store of value as well, but it's uniquely used to pay for shit all over the world every day. Arnhem the Bitcoin city gets daily transactions (https://www.arnhembitcoinstad.nl/#stats) for years (now in lightning too!) because there is a merchant network there. OK, lockdown now so a trickle only but still!

At first maybe yes, Bitcoin is a store of value but as time passes by, the developers of the Cryptocurrency Industry creates a lot of ways on how to utilize Bitcoin to the fullest. Nowadays we can see that Bitcoin is not just used as a store of value but it is used for different transactions that act as a currency which is like a money. That is why many developers are supporting Bitcoin because they know that its capabilities are not yet fully used.

The reason it acts like a store of value is because it is currency that *is not backed* by any sovereign state. So there are a lot more forces trying to figure out what 1BTC is worth. Even normal currency is traded and has price fluctuations, but because the approximate value of a dollar (or a yen or a ruble etc) is decided by the country that issues it and all its users, the bounds for what one could be worth on a given day fluctuate much less.

If you want to try taking advantage of these big moves, I'd encourage you to try paper trading through BitFolio (https://medium.com/@bitfolio_dot_io/introducing-bitfolio-anyone-can-be-a-signals-service-8124247951d1). Use the passkey "BitcointalkFriends" (no quotes) to access the beta version  ;)

You might this because of the decentralization, right?

In terms of fees, yeah are those times that we are sending huge amounts but compare it when banks or other third parties do it. Lightning network make it great so that we could use Bitcoin in a lot of ways including fast payments. It is under those two, a store of value and a currency.

But there are ways to lower the transaction fees in Bitcoin, one thing I did is to create a Segwit wallet, because I also noticed that the Legacy wallet way back before produces significantly more fees, the native segwit BECH32 is quite better though, there are some compatibility issues, I think for most of us considering this decision will be better.

With that regard, it opens up the opportunity for bitcoin to be used for daily transactions because of lower fees. Though, it really depends upon a person on how he/she will manage his/her funds, whether to use bitcoin for investment or for daily uses.

Right.. Although bitcoin meets the criteria as a medium of exchange, it fails as a store of value and a unit of account. Unlike fiat currencies such as the U.S. dollar, bitcoin has proven to be too volatile to make it a reliable vehicle in which to store value over long periods of time.

Well I don't earn any FIAT anymore, not earned fiat since 2015, so for me BTC IS also money as well as a store of value. I store what I don't need to live on but use as currency what I need to use to eat, pay my bills and my mortgage. So it all depends on where you are at. If you are wealthy and can afford to keep all your BTC aside to grow and become even more wealthy, then yes, it's ONLY a store of value as a hedge against FIAT and other assets. For people like me who only earn BTC and altcoins, then we need to use it also for day to day living expenses as well as store some for the future.

To be honest, in my opinion, bitcoin can never replace fiat because there is a 'necessity' for physical cash to be present as an alternative mode of payment.
We can't completely rely on digital payments since there can occur rare incidents such as internet outage due to flood, earthquake, tornado in some areas due to which people will have to rely on physical cash and fiat is surely one of the best physical mode of payments as of date.
Also, pandemics such as Covid-19 shows that on such scenarios it is always best to hold some physical cash to buy household things quickly.

Talking about the digital mode of payments, bitcoin can be a really good method for large payments and international transfers since those are the ones which generally takes time and charges. Bitcoin can strive to solve this problem.

The thing is that if Bitcoin doesn't serve the purpose of paying things, sooner or later it will vanish. The belive to be able to use Bitcoin to pay things in the future is one of the core thought of everyone who owns Bitcoin, without it, people will start to ask themselves questions like 'why the f am I holding a things that don't have a value, even gold can be used to traded for things'. Bitcoin is still a new thing in the world so that it needs to have something familiar with a daily basis so that there can be new ones taking steps into it.

While I agree that Bitcoin will never replace fiat, I don't agree with your reason. You don't know what future will bring us. I'm actually pretty sure that some crypto currency will at some point replace fiat. Occasional Internet outages won't be a problem just like occasional power outages wasn't a problem for the adoption of the electricity. Fiat will be replaced once it will be more convenient to use crypto as a payment than fiat. Now it's still to early because crypto is relatively new and most people know about it because of the last bull run.

As for Bitcoin replacing fiat, I'm pretty convinced it will never happen. Bitcoin is closer to being a store of value than to being a replacement for fiat. I know... Lightning network, SegWit... But the fact is that Bitcoin network is still just too slow for it to be a fiat replacement.

Let's say is both. Bitcoin is a store of value which we'll know from the upset and also, it serve as a currency because we'll buy things online with the use of thus coin. Especially digital goods are been bought through different platforms with the help of Bitcoin. Most of my transactions online are be carried out through Bitcoin purchase. So, if bitcoin can be use to make a purchase then, it can be said to be a currency. So, bitcoin is both a store of value and a currency.

That is nice. Thanks for that.

With your reply, I can say that the point of view of people that says Bitcoin is not suitable as a currency doesn't know how to fully use other ways like what you just told me. Some people might not really understand what you are saying, the technicality of how they will use Bitcoin, I think that is the problem to people stated in one of the threads I've read here.

That’s why it’s very important that you make use of the big exchanges , because those ones are always secure and even if things goes wrong you are covered.

Before you start making use of any exchanges you should learn about them and see the level of security they can offer to their users. Just like Coinbase, if you check their website it’s clearly written that it is secure and also explained how their website can be secure by letting you know they store most of their assets offline, and they have an insurance covering every assets on their platform. Those are things you should always take note of.

I have to say that I don't completely disagree with you in that BTC is more suitable for value storing rather than a token for currency. The currency option gets torn apart by the simple fact of market volatility, as well as regulatory inhibitions that major institutions raise against the crypto advancing technology.

As for BTC being a store for value is more reasonable at least in my bandwidth in my opinion due to reasons of limited supply and expensive production cost - this then highly resembles gold, and once you see it that way you get to understand the store of value option that BTC holds.

Also, BTC is by far the best developed blockchain and thus other coins are far more suitable as currency. At least these are some of my view points but I'd encourage further discussion on the topic.

Bitcoin will not replace Fiat currency but it is a digital currency which play only a limited rule unlike fiat. Both fiat and bitcoin is valuable for us because this two are very helpful for our daily living. Let just think that fiat currency is our need offline and bitcoin is our currency online because it is digital but also we can use it to buy and pay bills ,etc...the adoption of bitcoin is continue to grow but it doesn't mean that it will replace fiat because it is difficult to happen. It needs internet connection and has a volatile value unlike fiat which is hand carry and tangible.