Bitcoin Forum

Is there a chance, that bitcoin will replace the fiat money? and why?

This will never happen, BTC is shit coin, low transaction speed and very high fee, how can you use money for daily consumption ? you will have to wait 1 hour to buy a bread ? There will be another coin will replace fiat, not BTC, It may be Nexty coin, read about it

Bitcoin will never replace fiat maybe this two currency are the currency that used by many people in the future.And I think government will not allow to happen.

Sooner or later fiat will be out.Cryptocurrency is just 1 way how to replace fiat

no it can't happen, bitcoin and fiat are different. you should get your fact straight.

I think it's hard for btc to replace fiat money. Because BTC is anonymous so it is a good support tool for criminal activities.
Secondly, Btc is not stable because of its volatility, which may result unstable economy.

There is a big chance that will happen.
we have no FIAT before, and not all people have the money at start bu look at now.
fiat is the basic thing we spend everyday.
we just need to make it better and everything will be fine.

I do not agree if bitcoin replaces paper money, although bitcoin is practical, but I think it would be more complicated if we buy a candy using bitcoin. And every time we buy something we must carry our mobile phone, and must always connect to the internet.

No bitcoin cant replace fiat since its volatile and decentralize. The government and also the bank would disagree to replace fiat with bitcoin. Also bitcoin has a limited supply unlike the fiat its unlimited and the government has the control into it. Maybe when the time that bitcoin is stable and its supply is unlimited then maybe it will replace fiat.

I don't think so. BTC can only be replaced fiat if it has a wide adaptation on it. For now, BTC is just an asset.
Maybe on the future but not on our generation.

BTC is hard to replace legal currency!
The legal currency is a basic financial instrument of a country and the BTC threatens the central bank’s monopoly on currency.

No bitcoin can't replace fiat for bitcoin may end sooner or later bitcoin is just an alternative digital money so that we can pay our transactions online or invest to earn some money. Bitcoins stability and its limited supply is also a factor in which that it can't replace fiat.

It will if bitcoin will be properly dessiminated to people so that many will be informed and educate people well in operating it. It would be hard to say it now, it is too soon, but maybe in the future like i said if and only if it will properly informed to people.

The time that bitcoin or cryptocurrencies will completely replace fiat money is most likely a lifetime away. Cryptocurrencies are not so easy to use for everyone. It requires time for studying even just its basics, and even just starting a crypto wallet would be hard for some. Fiat money, on the other hand, is very common to people; its value is already understood, and how to use it for trade and other services like second nature. However, with the rate of growth of crypto, it is indeed possible for it to replace fiat money, but I think it would be a really long time to do so.

This question/comparison had always been asked since the beginning of Bitcoin. I do think that it will not replace fiat money, Bitcoin will grow and will be bigger than ever but it will be hard to completely vanish fiat money.

We can't certainly say whether bitcoin can replace fiat maybe in the near future where its more stable. Though bitcoin is made for paying those online transaction or services. And also if bitcoin has a unlimited supply like a fiat do.

World is becoming digital and the time will surely come when cryptocurrencies will have a huge impact on the world's economy but I don't think that Bitcoin or any other cryptocurrency will be able to completely replace fiat money.This is because fiat money is a trusted mode of payment. It is very simple to use and people are using it from long time.If we talk about Bitcoin then it is difficult for it to gain the amount of trust that fiat money has.Moreover it is decentralized in nature and government has no control over it so government will not allow any such currency over which they have no control to overpower fiat currency.

Different countries respond differently to the use of bitcoin; therefore, the effect of bitcoin will be different in different countries. It can only manage to become a new digital asset as it is evident in the announcement of the release of bitcoin futures, but not a new medium of exchange. However, if the whole world including the developed countries switch to digital, bitcoin might pose a threat to fiat money. That is unlikely to happen in the recent future.

I agree, in the beginning people are not using fiat money and they can buy and live without it but in upcoming new centuries fiat money are develop and use it as payment and still now in the present we are using it. However, there's a chance that cryptocurrencies can replace it because in every decade or new centuries there will be the new technologies are always develop to make the lives of people become much easier and convenient. So nothing is impossible to happen.

we are living in the foundation era of 4.0 industrialization, so any posibilities is available. Imagine the world in the near future are enhanced by digital technology, what reasons for traditional currencies remain? Cryptocurrencies is far convenient. Furthermore, blockchain ledger are much reliable for its decentralized concencus, which is  users can come to a consensus as to what information is accepted by “voting.”

I think it is not, and it will never happen. Since most countries do not legitimize bitcoin, Bitcoin also has some problems such as having no underlying and not centered. In addition, bitcoin does not have a deposit and credit mechanism like conventional currency. Bitcoin currently exists as an alternative currency, especially digital currency. In terms of function, bitcoin is considered only able to meet some of the functions of currency that is as a means of payment. Bitcoin exchange rate changes over time and fluctuates. In the future Bitcoin will remain one of the alternative currencies.

We are living in digital world, but I guess Bitcoin will not replace fiat money completely - as it was not intented to do so. In my opinion Bitcoin will serve well as store of value (despite its actual volatility) and other cryptocurrency with higher transaction speed and lower fees could replace part of fiat money in our everyday lives.

I think its hard to replace fiat money. Bitcoin is decentralized cryptocurrency and no one authorities can control the bitcoin supply. If bitcoin replacing fiat money, i think thats mean bitcoin controlled by government and central banks. Its hard to control bitcoin because the data spread all around the world

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I think yes, there will be a chance that bitcoin will be the alternate currency to fiat money because as for the percentage of it's adaptation I recognized that day by day there will be the increasing volume which is means that in its everyday performance there are continuously adaptations happened so I believe that there are the bid chances that it will be considered as a world wide currency in the future specially when it is much enhanced and developed.

Fiat currency is issued by governments.  And let's face it, no government has ever really attained immortality.  If a government falls apart or gets replaced for whatever reason then its old currency becomes worthless.

I think that some people who use bitcoin feel that bitcoin is the best place to make fiat money that they have. well, i do that too, and it really is a very good thing. I feel that many people are connecting between these things.

In my opinion, this can't be happen. Bitcoin is a digital money or shall we say decentralized crytocurrency in which people transacts though internet access. Technology keeps evolving that makes bitcoin alive. While a fiat money is a currency for legal tender has been declared by the government.

I never understood why people want/need/think about this. If even this happen in future our generation would not have a chance to see that

No, it's totally wrong, bitcoin can not replace fiat. There is not any way to make bitcoin a substitute for cash. Any change will lead to enormous effects on the economy of each nation.

Yes i avree on that, bitcoin can not replace the fiat money because they have different feature and different Stan. I think we need to make sense of it. Both bitcoin and fiat money is really important to us bitcoin is becoming more important and it is really become a part of our human life it is slowly becoming more precious to us. Because it helps us a lot.

It will not be possible for bitcoin to replace fiat money considering not every body is internet inclined and besides network will definitely pose as a threat. Come to think of it will the economically active poor use bitcoin? i guess your answer is as good as mine, definitely NO. I believe bitcoin is going to complement the fiat money but overriding it, i don't think is going to be possible anytime soon or else bitcoin becomes flexible i.e having the paper form and the crypto but until then fiat money will still be very much in existence.

Is Bitcoin gaining importance over Fiat money? Is the dependency for Bitcoin increasing?

I think bitcoin can't fully replace FIAT money but we know that change is coming so I think we would embrace the new innovation which is bitcoin and let it live with harmony of FIAT money. I don't think it would be a bad idea this way.

We all know that fiat money is present in our society nowadays but how much more in the end of the day or the years passed by the BTC will be released and to be used daily by the people because of its value and its currency. Change is constant.

As of now for me there is no chance that  bitcoin will replace the fiat money because not all of us can still access bitcoin,there are people that can not afford access it.But i am not closing the possibility.

any fiat money of this or that state is not only a means of payment, they also reflect the financial situation in the country and the amount of national money depends either on the size of the army or on the country's gold and foreign exchange reserves, issuance and movement of fiat funds controls and regulates a certain body in each country, for example, the US Federal Reserve or the central bank in the Russian Federation, and so on, the bitcoins can not be controlled, respectively, they can not replace the national currencies.

no mate 'cause bitcoin is a decentralized currency and so volatile which is unlike fiat currency , and also the common reason why it cant replace fiat it is because bitcoin can be used to any bad manners such buying illegal stuff through internet which no one can identify the buyers and etc. That's why some of the government banned it due to that reason even bitcoin value is so high than fiat.

I think it is impossible that bitcoin has replaced Fiat money not one Bank of any government will not go for it. Bitcoin is not yet recognized in most countries and it is not a fact that it will be recognized.

I think it will never be happen that bitcoin can replace fiat,as we know fiat is instant youbcan have it anytime qhike in bitcoin or any cryotocurrencies you cannot get it automatically you must wait for the high value before you convert it,and you cannot use it instantly.