Bitcoin Forum

I have been seeing the progress of cryptocurrency these past few years, and I've been thinking, will it definitely be a replacement for physical money and use crypto as a primary transactions in our everyday life?

It's either bitcoin/crypto will be adopted by the masses as a day-to-day currency, or it will be a massive sort of 'underground currency' that sovereign people would be using. It will heavily depend on regulations of specific countries.

I don’t think bitcoin will replace fiat anytime soon. Unless every person has bitcoin and are willing to spend it as a currency, it cannot be replace fiat. In my country, many people are stuck at home because they don’t have physical cash to pay for transportation to work. The little cash they have left is spent on food and electricity. We try to use digital banking when we can but some of the sellers are either unbanked or do not feel comfortable with bank transfers. Bitcoin has a long way to go before it can replace traditional forms of money.

No, i do not believe that bitcoin and crypto currency will be a replacement to the worldwide fiat system; Instead, bitcoin and crypto currency can become a quality alternative when it involves sending money from one continent to another continent all under couple of minutes. If you have noticed; you would realize that the chain movements involves the following chain cycle

fiat (cash) = bitcoin = trade = take profit = withdraw profit = back to fiat (cash)

Crypto cannot necessarily be a substitute for physical money, but crypto can work together with physical money because using crypto requires approval from regulators and governments worldwide. At this time, several countries have legalized crypto as payment, but many other countries still have not legalized crypto but have allowed their citizens to use it as an investment.

But for the future, maybe crypto can substitute physical money or the government will launch its physical money into digital money like crypto that people can use it. Meanwhile, the government can also legalize crypto so that its citizens can use it apart from using digital money from that country.

An a replacement in what way? If technically speaking, probably not, Bitcoin is still unable to process the transactions of billions of people daily.
It may succeed in this in the coming years, but it is unlikely that billions of people will use Bitcoin during the next few years, so the scalability of Bitcoin looks good now.
As for rules and laws, this matter may take tens of years, and it may not happen. Therefore, it will not be a replacement, but rather a reliable and deliberate payment system and an alternative to international trade and transactions between banks and individuals, and perhaps even countries.

I know how cryptocurrency is progressing when mass adoption is being heralded by advances in blockchain technology and even several countries have legalized bitcoin as a means of payment but once again it is a small country that is different from several other countries which are stronger on their fiat finances.

I don't think that bitcoin can completely replace physical money, I even consider bitcoin as a second option for those of us who want to use it, while fiat is our daily life in any transaction and this is still being strengthened by any government to defend their currency.

The government already has regulations and there are always those who oppose bitcoin as a means of payment because of its high volatility.

Rather than replacement, it will provide an alternative, an option different from the regular traditional payment method. For a category of people that want cryptocurrency to become what they use primarily for transactions, it may be possible to some extent and with some vendors, but not with all vendors especially those whose business majorly requires that they have physical money.

Recently in my country, there is a scarcity of physical money, banks do not have money to give and people have resorted to alternatives of which are the online banking, USSD transfer and use of their debit cards for transactions. But in all these there are still some businesses that do not accept transfer because their wholesalers who are majorly people in the rural areas and villages who need money because people in their communities where population is dominated by aged men and women have no interest in anything that they cannot see.

Because these people still exist, cryptocurrency cannot completely replace physical money.

Cryptocurrencies have the potential to change the way we think about money and transactions, but it is unlikely that they will completely replace traditional money shortly. While some businesses and individuals may prefer to use cryptocurrencies for particular transactions, such as international transfers, they are not yet widely accepted as a means of payment for everyday goods and services. This lack of widespread adoption can be attributed to several factors, including legal and regulatory issues, security concerns, and the volatility of cryptocurrency values.

One of the main challenges facing cryptocurrencies is the lack of clear regulations governing their use. While some countries have embraced cryptocurrencies and created regulatory frameworks to support them, others have banned their use outright, creating uncertainty for businesses and individuals who want to use them. In addition, security concerns remain a significant issue for cryptocurrencies, as they are vulnerable to hacking and other forms of cybercrime.

Finally, the highly volatile nature of cryptocurrency values can make them an unattractive option for use as a primary transactional currency unless you are going to HODL it and try to profit from it. The value of cryptocurrencies can fluctuate wildly in a short period, making it difficult for businesses and individuals to price goods and services accurately. While some investors have profited from the rapid rise in cryptocurrency values in recent years, others have lost substantial amounts of money due to sudden drops in value.

In conclusion, while cryptocurrencies have the potential to revolutionize the way we think about money and transactions, it is unlikely that they will replace entirely traditional money immediately. Widespread adoption will require a lot more effort from everyone.

So far I hope so, because cryptocurrencies make it very easy for us to transact and be transparent.
but in the future it could happen but not anytime soon for the whole

It will be an alternative but I still in the belief that the government will never allow it to replace their national currency. I also think instead of cryptocurrency, the government of financial system will use digital cash to replace the physical cash in day to day transaction because it is way more cheaper than any cryptocurrency especially the POW one.


This is another reason why the government will not use cryptocurrency, banks prioritized privacy, not because of the customer but because they wanted their embezzling of customers' fund secret.

I don't think so that will happen, each country has a different fiat value.
It should be an alternative but not replacing, the one potential advantage of cryptocurrency is that it can provide a more secure and decentralized method of conducting transactions, it cannot be reversed. But still, fiat is very important to all of us --while crypto has the potential to disrupt and transform the financial world, fiat currency remains an important and reliable form of currency for conducting everyday transactions and facilitating global trade.

It could happen in many people's lives, but I still don't think that physical money will be forgotten by many people even though one day cryptocurrencies can replace traditional transactions that are often carried out by fiat money.

Until now I only thought that cryptocurrency was just an additional currency that could be used by many people in ways and methods that were different from fiat money. So what you are asking is indeed very possible, but to replace physical money, the progress of cryptocurrency needs to cover every corner of the world, including remote areas that currently still rely heavily on fiat money.

It wouldn't be an easy transition, but it's sure as hell that we'll see the digitization of money slowly thanks to the idea of cryptocurrency. A lot of countries are already in the works of releasing their own CBDCs, and a lot are already in R&D for it. It's quite an investment to all the tech, hardware, etc. but eventually it will pay off and offset the expenses that they have compared to minting physical money.

IMHO.

There's no need to think about it anymore. Beforehand, it's like a topic that's on the everyday discussion but with things right now, it's no longer an interesting to talk about.

And that is because whether there's an approval from the government, it won't really matter because the power is on our hands whether we're in a place where the crypto community is truly supportive.

Coming to the point that most merchants accepts it lightly without any problem and all are voluntarily happily accepting it.

The transition from physical cash to digital cash is possible though I think it will take decades to centuries to happen.  Of course physical money will not be forgotten because if the time comes when physical money become obsolete, it will become a collector's item where it can be the content of several museums. 


I think of cryptocurrency as an alternative way of online payment.  It never came to my mind that cryptocurrency will replace fiat currency ever.

As a replacement, I doubt it. It may be possible in the next several decades, but right now it is hard to imagine sovereign countries completely abandoning their own currencies in favor of Bitcoin. Fiat evolves. By the time Bitcoin becomes relevant, which is gradually happening as we speak, fiat is also making adjustments. Bitcoin may become an inspiration of the next fiat designs but it lacks something vital that government or central banks might need in dispensing their power.

At best, Bitcoin will be accepted alongside fiat, and probably even achieve a reserve currency status.

No, not soon.
Sovereign governments and nations have proven themselves to be jealous over the power they have to control the economy to please the plans of their party. Look what happened to the project of cryptocurrency by Facebook/Meta, it was tackled by regulators until it ceased to exist.

That happened because the agencies are aware that Facebook could have replaced much of the traditional banking system of several countries and become a big competitor within the United States and the world, thanks to their user base.

Bitcoin would have suffered the same destine if it was not a decentralized and open source project from the beginning. Since the agencies won't be able to tackle it in the same way they did to Libra/Diem, they will try to delay the adoption as much as possible.

It has a possibility in the future, but for now, it's a no because cryptocurrency was not made to replace our current system; it was made for us to transact. Though the possibility of going cashless in the future is very possible, there is a chance that it will be derived from cryptocurrency. But for now, let's focus more on using it as well as getting profit from it since if this well happens in the future, then we would be happy, but for sure, this will take more time.

Everything can happen in the future, especially if more people or governments realize the potential benefits of crypto that are bigger and can be used by many people. But for now, I don't think crypto can be the main transaction in our daily lives because people still use fiat.

Maybe for now, we should use crypto as an investment that can provide benefits in the future. So as time goes on and the acceptance of crypto has increased, we are ready to use it as the main transaction and have more and more of it.

This will be impossible since some countries have placed ban on bitcoin and crptocurrency at large,this means that those countries must first accept bitcoin as an alternative means. Bitcoin will first be accepted as a legal tender all over the world before this can happen,which I don't see it coming easily.

The volatile nature of bitcoin will also be a big challenge for this to happen. In a twinkle of an eye bitcoin price goes very dip,do you think that its users will be able to accept this loss ? No,bitcoin is also a decentralized system which doesn't need a third party for transactions to be made. Government will never accept this because they are always in charge of every financial institutions in their country which makes it impossible for them to control the citizens financial activities.

It'll be adopted as a currency, but it wouldn't replace fiat itself. Physical money WILL be digitalized so physical money will be phased out at some point in time. That doesn't mean that fiat will disappear though no, the medium would just be transferred from physical to digital. The government wouldn't like their current situation to disappear, especially if you consider how crypto is good on the side of us users, and not for the controllers. They couldn't exactly stop crypto from growing on the other hand though, so a side by side kind of existence would be my bet.

I agree, imagine people especially old people had to use online rather than physical money which is complicated for them to use in any transaction. Its true that they can be assisted but in everyday life I dont see it functioning very well. It can be use thru larger assets transaction its also gives less fee.

No, cryptocurrency cannot be a replacement to physical money because it was not the intention of the creator of Bitcoin as the king of cryptocurrency for bitcoin to replace physical money.
Bitcoin was created as an alternative to physical money. Which means if you want to use the physical cash you are free, but if you instead want to use bitcoin you are also free to use. But let us pull down the idea of cryptocurrency wants to battle against physical cash. Let both of them go together for the benefits of the Society

Cryptocurrency will never replace conventional money.All countries will have their own national currencies.Cryptocurrency is a universal way to transfer funds that suits two parties,both the one who sends the payment and the one who receives it.There is development in the industry, and it can be seen that it has been very good over the past year.More and more payment systems work specifically with cryptocurrencies and can quickly convert crypto to fiat.

What do you mean by cryptocurrency? If bitcoin, then it is unlikely to replace physical money. Governments of countries will not allow this and they have their own version of cryptocurrency for these purposes. It's about the CDBC.

But CDBC is likely to replace both physical and electronic money and will be used in everyday life. Otherwise, why would they develop it? Of course, in order to prevent the influence of cryptocurrencys. In particular, bitcoin.

So, there will be a replacement, but not the one we would like.

As far as I know, someone has given a prediction like that before, but of course that is just his opinion and opinion. Right now, no one can say that to be honest.

     Although it may or may not happen, it probably depends on the situation that all countries around the world will do if that happens. But if you say now, it will remain just speculations of an individual here in the field of cryptocurrency.

If it is Bitcoin that we're talking about, then I highly doubt it though I mean that in a good way. If Bitcoin is going to replace the physical money, then surely government would intervene in this "replacement" idea happening and we all know that we use Bitcoin not just for investment but also to how decentralized it is.

There might be other cryptos into mind that "might" replace physical money considering how the common blah blah blah technological evolution happens, but take that with a grain of salt, OP.

But it wouldn't guarantee that it will replace physical money for daily transactions.  As far as we know there is already digital form of money that can easily replace physical cash and is already controlled and managed by the government.  So  I think, the government will not bother to use decentralized cryptocurrency to replace physical cash.  Cryptocurrency as created will always be an alternative may it becomes mainstream or not.


Again there is no chance that the government will allow decentralized cryptocurrency or not issued by the government to replace physical money.

I consider myself to be a capitalism absolutism in terms of currency -- I'd appreciate a healthy competition between crypto and fiat and allow the consumer to choose which currency fits their needs. That being said, Bitcoin could absolutely replace physical money if the physical currency you're talking about destabilizes itself and if the central banks introduce CBDC's as an alternative.

Seems the government backers of traditional currencies themselves would be the first to tell you that physical money is outdated in order to give leeway towards the intro of their own digitalized currency. Surely it would be in their interest -- digitalized currency means more centralization and control.

Although cryptocurrency is becoming more popular as a payment method, it has not yet completely replaced physical money in everyday transactions. Although some businesses accept it as a payment method, several obstacles, including the ability to handle large numbers of transactions, the need for regulations, and concerns about illegal activities, keep cryptocurrency from becoming the primary form of transaction. Nonetheless, the cryptocurrency industry is constantly evolving, and new developments may emerge in the future that will make cryptocurrency a more mainstream form of payment, but there is no guarantee that it will completely replace physical money.

Not for now at least, I'm optimistic that we will be able to do that one day but not for now.
There are significant difficulties with the use of Bitcoin for daily payment so it is not likely to replace banks at the moment, but given the problems of large banks and inflation and the endless problems in the current financial system, I am optimistic that this can be achieved over time with the continuous improvement of the Bitcoin network to be eligible for payment daily.

For now I think everything needs a process because there are still many considerations from the government to adopt bitcoin as a legal currency in everyday life, because some people do not fully understand how to use bitcoin and do not know how bitcoin performs, but I am sure that with the development of an increasingly sophisticated era, everything will be possible, and currently the government is exploring the performance of bitcoin and will consider making it an eye  money that is legal to use in everyday life.

I think if the use of digital money will develop in the future, it doesn't mean that fiat will disappear but change form to digital.
crypto and fiat will still exist and be used concurrently.

He was talking about crypto as a whole but Bitcoin will still come as the first choice of the people because it's already been tested through time. The only thing is, is that this it is unlikely because both are not the same. It's already in their names, that is one is physical (physical money) and the other is crypto (crypto/digital currency) and like you said, cryptos are also not good in the eyes of most governments so its unlikely that they will agree that it will replace the current currency that we have.

Bitcoin can be used as an investment other than a currency but that is not an issue here but decentralization can be a big deal to the governments because they can not totally control BTC this way.

Crypto is necessary for making cash but it cannot occupy the space of physical money. Not every individual can utilize bitcoin as a payment method and I think physical money is very easy to understand but crypto is not understandable for everyone.

Those people are a part of bitcoin and rely on it who have some experience with it but most of individuals are not familiar with crypto so they find it hard and will not easily take it serious.

Physical money has its own space and utility and it cannot be changes and will never replace by crypto.

I think you can, there are even some countries that accept crypto as a medium of exchange, but for now cryptocurrency users are still very limited. One reason why crypto is still very limited is high price volatility and crypto can change significantly in a short time.

OP, for this to happen, a country must have fully adopted Bitcoin or another cryptocurrency as a legal tender and be able to control the volatility of it or other cryptocurrencies. If you must know,cryptocurrency volatility means more profit or loss for users crypto investments. When the crypto market is so high, that means your investment will be generating profit, but when the market is down, it means your profit or asset value will also be going down, and to make profit on our crypto investment, we really need the volatility, and Bitcoin volatility cannot be controlled because Bitcoin is a decentralized crypto. For the sake of volatility, Bitcoin cannot replace the physical cash because we sometimes need the cash to remain stable, so crypto violet stability rule and go against money integrity.  Some investors would mostly convert their crypto to fiat some times.

The concept of crypto replacing cash or other forms of digital transaction carries a negative slant to it.

There is a positive trend where cash and digital currencies learn from crypto and become better as a result of it existing. Providing better value and assets for wealth storage to consumers and economies of the world.

Being mad at crypto is like being mad about the pentium processor being the latest evolution of an abacus. Crypto never truly replaces money. It is simply an evolution and branching of it.

It is not crypto that people hate and fear. It is change. Some are unhappy that the world is changing. They want things to remain the same.

If we look at history we can see that this never happens. Change is one of few relative constants.

indeed the original purpose of bitcoin was created as a currency, a means of payment. but government regulations so far have not made it possible to make it happen, in its journey because it uses a few people and continues to grow, price fluctuations are unavoidable, so that in the end many people use it as an investment or trading tool, where the main goal is to make a profit. I think it's still a long time to see bitcoin as a means of payment let alone a substitute for money, seeing as the government still chooses a centralized system

This is what satoshi dream in last 2009 when he created bitcoin, but it's not easy to replace a system that running hundreds of years because need at least education and learning from beginning. Because not many people understand if the new system is better than old system.

No, it's not satoshi's dream, bitcoin was created as an alternative to centralized banking system, he never said bitcoin would replace physical money. We are moving towards a digital world, so physical currency will soon be replaced, but it will not be a cryptocurrency, but rather a digital currency developed by the government. Crypto would also be a candidate, but unless the government finds a way to completely control the crypto industry, including bitcoin, and it will be almost impossible.

Physical money is already replaced by digital money (cards, online banking). If you meant crypto as replacement for fiat money, my answer is, no. Both will go hand in hand.

It is not dream by Satoshi his dream was only used by everybody and take part of its technology which also gives  people freedom financially and also to take  away those expensive fees on transferring money before. Though it has a chance of replacing fiat but it wont be happening soon as it is difficult to do it as there are a lot of factors and our fiat is very establish right now but a lot of loop holes. Lets not think about replacing the fiat by bitcoin lets focus on what we can achieve more by using bitcoin.

I also hope that crypto and fiat money can go hand in hand even though fiat money has been replaced with digital money via online banking cards. Because when crypto and digital fiat money can run concurrently, of course the users of both will also be more numerous because they already have two options that can be used for any payment if both are running concurrently.

In addition, the development of technological sophistication will also be increasingly visible when the two options are used by many people in this world. Because this will definitely expand into the broader realm of business so that many people will really feel the benefits in the future. Even if crypto really goes hand in hand with digital fiat money like now.

Not impossible to happen but the question is if the government will allow it. Or just about to accept that the government will control crypto then when it happens? In this situation, we are just like using fiat money.

Because for me, it was not necessary that we have to replace fiat money. While embracing digitalization and crypto gives us more options for which one to use in our comfort. Meaning, we can either use the two depending on what we choose or consider the place where we live.

Yes, there must be both. FIAT money is unsecured money whose use is forced on society. Bitcoin is honest money that freed the world from the fakes of FIAT currency. One of the biggest threats to a free society is the end of hard currency. Digital payments are NOT a good thing if that's the only option. Cash must remain for the security of the country.

It will be difficult for bitcoin to replace fiat, and bitcoin was not created to replace fiat even at the long run. It's going to take time before everyone will have to know about bitcoin, and if everyone knows about bitcoin, not everyone will be able to make transaction with bitcoin. people in  some rural areas will find it difficult to use bitcoin, in some rural areas their is no internet connection, so how will those people be making daily transactions with bitcoin, it won't really be possible.

Well, we can say it could happen if we took consideration that just a few would be able to do that. If you're referring to the generality of the people being able to use it as a primary transaction channel, I think that will be impossible. I ain't trying to be pessimistic here. Despite how popular the dollar and pounds are, they aren't still recognized and used globally. Bitcoin/cryptocurrency is more complex than fiat.

Like others have promptly pointed out, I highly doubt Satoshi's dream when he created and released bitcoin to the world was to take over and replace the current system of payment which is to a large extent, the fiat system of payment. More likely, bitcoin is there as an alternative system(some would say a more better mode)of payment to the traditional fiat system.

While bitcoin has progressed and is steadily gaining more popularity and usage worldwide, I don’t see bitcoin replacing the traditional fiat currency anytime soon. No doubt, the world is evolving and changing rapidly so as the modes of payment for commerce is changing. But that would not edge out the fiat system so easily.
Obviously, if there would be any replacement at any time for the current system of payment, we would also need the governments nod of approval for bitcoin to actually healthily compete to replace the existing payment system.

Now cryptocurrency has become a means of transaction, even though this has not been officially stated by the government. Many websites provide transaction services through digital currency. In fact, we fellow crypto users have made Bitcoin a transaction tool.

Not a replacement but you can use both, fiat and crypto have their own pros and cons.
With the current situation of many banks, I'm pretty sure many are already considering to buy Crypto where they can have fully control with their money but again, you should not be complacent with crypto since there's still a risk on that. Fiat currency will also stay no matter what, they are made for that and the government will not allow that to happen if ever.

This has been discussed many times already, Crypto will not replace fiat currency but it can be a good alternative especially there’s a big threat of crisis and higher inflation. Let’s see if Crypto will really be the safe haven if there’s a financial crisis. US is on a big risk of entering this phase, many are on panic already so I’m wondering if they will invest in crypto or just pull out their money and put it on something else.

This is doubtful, do not get me wrong I think bitcoin has the potential to be adopted by a very high number of people and be used in our everyday lives, but at the same time I know that governments are never going to give up on their fiat currencies, the system could collapse and bring misery all over the world and the politicians will not care and they will try to force people to use fiat currencies again by given them another name, and since I think most people can be easily deceived then I do not think bitcoin will definitely replace physical money as you suggest.

I totally agree with this. My reason for that it's because there will always be a country that will prohibit the usage of crypto either due to personal interest or for the sake of the so called user security. We all understand some of the few good reasons why they wont legally accept crypto, and hopefully even if they won't fully accept it, at the very least they won't declare a total ban, or in other words leave an option for crypto as a mode of payment.

Crypto is a threat to Fiat, if we are ever going to see some crypto projects use publicly for payment, trust me the government will be the ruling leader of the projects, such projects will work with CBDC and the ISO whatever of things, crypto payment will remain private within the people, not the government, this is why it will be very hard to see crypto getting accepted as means of payment, some countries will accept Bitcoin but many will continue to put up some restriction on it because it is a threat for them.

Well there are already centralized crypto like XRP so "unaware" people might not look into Bitcoin as the first choice since they believe that centralized coins means that they are entirely protected since a third-party is in authority of how much they're holding, but they're wrong of course.

Bitcoin, at least here in my country, has been a popular investment and I don't think that people might think about that first when it comes to replacement of physical money considering that I see a lot of non-fiat holders using digital payments like GCash here to pay easily through the counter. Not sure about the other countries though.

Crypto has never been a threat to fiat, they were created as an alternative to fiat, and cryptocurrencies do not provide privacy for everyone. If talking about privacy, then only bitcoin is the only currency, the rest are centralized coins that are controlled, so they cannot provide us with privacy.
In the future, physical money will be replaced, but it will definitely be a government-issued CBDC, not bitcoin or any altcoins. The government will never accept a currency that is not issued by them, and could become the world's main currency.

however the state is the key to realizing crypto as a means of payment, no matter how good the existing system is, if the state prohibits it, then as citizens we must obey it. in several countries periodically change leadership, from there we hope that in the future a leader will be chosen who supports the development of the digitalization era, so that it can provide leeway for cryptocurrency to develop and eventually be legalized

I doubt it is going to be anytime soon. Even thought bitcoin and other crypto currencies are getting popular, people still depend on fiat currencies. Right now most people use crypto currencies to hold and make profit. They sell it for fiat currency. As long as people will keep on doing this, we won't be seeing bitcoin going mainstream. Again, crypto currencies right now are extremely volatile. I doubt anyone would want to use a volatile currency for making day to day transaction. If everyone is on board, and if everyone starts to prefer crypto currencies, we might see them replacing the traditional fiat currency one day soon.

Not yet as long as there is still fiat in each country around the world. Even fiat will continue to be the main transaction tool in all activities even though some countries already accept payments with Bitcoin or other cryptos. But I already feel if the two go hand in hand at this time.
From Bitcoin they are learning that the efforts of some countries to immediately have CBDC amid various economic constraints that are happening.
Some countries reject the CBDC convention.

If you read Satoshi Nakamoto's old posts on our forum (Bitcointalk forum), you can infer that he envisioned bitcoin becoming a widespread means of payment in the future. 

However, reality has made its own adjustments..... 

The convenience of using bitcoin as a means of payment is inferior to its other advantages - a limited supply (potentially only 21,000,000 coins are available) and a transparent blockchain (convenient for auditing).  These last two properties make the first cryptocurrency an ideal reserve asset and an ideal measure of the value of all other assets. 

At the same time, the number of possible daily bitcoin transactions has a technical limitation that does not allow it to be used as a universal means of payment (after all, a huge number of people live on planet Earth - 8 billion people). 

Therefore, in my opinion, the most preferred option for using Bitcoin in the future is to use it as part of the gold and foreign exchange reserves of central banks (this requires a corresponding change in the regulatory framework).

You have to look closely at Satoshi Nakamoto's white paper to get this answer... he specifically mentions the word "Alternative" payment option.

Satoshi was not a fool, (let's refer to Satoshi as a male for now. even though we do not know).... he knew government controlled fiat currencies will never go away, but he also knew... if it failed, people will look for alternative options as a payment option...and this is where Bitcoin comes in, then people will use it as an alternative option.

This has happened in many countries, like Greece / Zimbabwe / Cyprus  etc... where their Fiat currencies struggled.  ;)  People also turn to Bitcoin when centralized payment options misuse their power.... (Wikileaks donations / Backpage payments / Pornhub payments)

I don't think crypto needs to be a substitute for physical money but it can provide an alternative to users that when they can't use physical money, they can use crypto to make payments. Fiat will remain as we know it. Maybe it will only change physically from paper to digital because it has been transformed into a digital form. And fiat will still be used but it would be better if the government could start legalizing crypto as an alternative means of payment when banking cannot work optimally. The public will be happy to see something like that because they can use fiat and crypto together.

No it will not happen.

It's good to see the adoption of cryptocurrency going up as the years goes by, and it's also good to see some small business, and establishments starting to accept cryptocurrency as another mode of payment on their business. Having said all of that, I don't think that there will be a time that cryptocurrency will replace physical money to be used for our daily transactions. There are some hindrances as to why it will never happen.

Most people don't have access to cryptocurrency, lack of device to be used to access crypto, lack of knowledge with regards to crypto, fear that they might lose money if they will use it to transact because of it's volatility. I mean there's many more reasons to why it will not be used for daily transactions. It would be better to keep crypto as an alternative mode of payment and will not replace our physical money because it will not happen... or it might be in the future we don't know. :D

The rise of cryptocurrency has been a topic of much debate and speculation in recent years. While it's difficult to predict the future of digital currency with certainty, many experts believe that cryptocurrency has the potential to become a major player in the world of finance and transactions. The advantages of cryptocurrency is its decentralized and secure nature, which can make it an attractive alternative to traditional currency for some people. Additionally, the growth of blockchain technology,
there are also many challenges and obstacles that must be overcome before cryptocurrency can become a widely accepted and mainstream form of currency. These include concerns around regulation, security, and scalability, as well as issues related to adoption and acceptance by merchants and consumers.

Overall, while it's possible that cryptocurrency could eventually replace physical money as a primary means of transaction, it's likely that this transition will take time and require significant investment and innovation from both the public and private sectors.

No, they won't. They will not legalize crypto because it will beat the value of fiat in the market. You have to be sure of that.
All over the world almost all countries want fiat currencies to have a high value in the market and we can see how the USD competes with the euro.
Although not and/or not necessarily true, their efforts in pursuing CBDC is as an alternative to not wanting to legalize crypto.
For me it doesn't matter because we can still use crypto amid the difficult economic conditions of the banking world or vice versa.

It can be said that depending on the government, the government is still the one to decide everything, but that possibility will be very unlikely. That will only happen unless they figure out how to take control of bitcoin and make it their own product, but so far bitcoin's decentralization has been virtually unbreakable. But discussing the future of physical money, I think it will also disappear and be replaced in the future by a digital currency created by the government and as we know it CBDC. Bitcoin or any alternative currency would not be the government's choice.

There's a fine line of difference between the two currencies fiat and crypto as they both play a similar but different roles entirely, and by similar role I mean they're both a store of value, a means of exchange, etc but in terms of usage they differ. So you know, cryptocurrency is not that convenient to use in purchasing a product of one dollar or less due to the transaction fee charge that may apply (like who will be responsible for the fee is it the buyer or seller?), Unlike the fiat money that OP describes as physical money it can be paid with less than a dollar commodity and cash paid in hand.
In my very opinion in as much as fiat money is centralized whereas crypto is decentralized both can function side by side freely with a choice open to the users on which to make use of based on the situation at that very moment.

It will not completely replace physical money for daily use and transaction. If it had to replace the physical money, then they need to educate some elder people and younger people to do it as well, which means it can't completely adopted to this world. Also with the fear of using cryptocurrency as their daily use because of the regulation on their countries or the fear because of their mindset telling to do so.

Surely more people will use it in the future, but to be a replacement for physical money is just impossible.

No matter how much positivity we do see on this market or simply speaking about digital currencies but still there's no way that it could really be able to replace those physical fiat that we've been
get used to.Also, as long government does exist then there's no way for this could be possible plus we know that we cant really be able to apply up things and making it as a daily currency
on something which is volatile and we do know that it cant really fit out with the criteria yet every transactions would really be having a corresponding fee.
Whether we do like it or not which fiat would be the sweetest spot on these kind of situation and cant really be that replaced.

It is far too early to make any real guesstimates at this point as to how things will play out.  In my opinion is it only inevitable that physical fiat money will be replaced. Whether that's with bitcoin or some other type of digital currency.  I think the worlds governments will first try and create their own centralized cryptocurrencies (much like some are already trying, such as China).  But if this does happen, its still going to take time and the bitcoin blockchain  needs to continue progressing. 

I think it will not become or replacement for fiat, even we will using it right now but still there is a lot of people who still wanted to use fiat than cryptocurrency and there are also people who don't know about it specially to those who are very old they don't even know it for sure, we still don't know what happen in the future so i think there is a little chances in the future generation.

That's why I hope to see crypto go hand in hand with fiat to help people have a better life and the government supports this. So if each country legalizes crypto for its people, the government can apply its taxes to crypto users. As long as the government can be a good link between fiat and crypto, the government will also benefit because these crypto users will pay their taxes as long as it's reasonable.

We are lucky to still survive amid this difficult banking world economy because we have known crypto for a long time. But imagine how people out there haven't had the opportunity to get to know crypto. It will be difficult for them to survive this situation. the hard one. But I'm sure they can survive even though their government still doesn't want to legalize crypto.

In reality what is going to happen is that the current fiat money is going to be replaced by CBDCs, which is an improved digital form of money for central banks, although it is a worse form of money for us citizens, as it allows for greater manipulation and control. Bitcoin will continue to be used but it will not replace fiat. In El Salvador, where it is legal tender, bitcoin is not widely used, yet, and people generally exchange it for dollars to avoid volatility. I am referring to the common people, not the foreigners who have gone there attracted by the bitcoin industry.

In the future it is sure that it will be cashless and for sure if it is not cryptocurrency then it should be derive from it.  There are still a lot of reason that it is not possible for us to replace fiat with this that is why we treat it as another form of payment which we use to purchase and it is cashless. I dont why still people insisting to replace fiat with this as the cryptocurrency was not created to replace anything it is just for us to be our own banks. transact online and have an investment on it

Cryptocurrency and bitcoin is an alternative to the fiat money and it is not coming to replace it in anyway, however, I understand that the use of cryptocurrency will increase very much in online shopping and businesses.
But in the real world the use of fiat would never be replaced and also the essence of Bitcoin is not to replace the fiat, but rather the essence of Bitcoin is to give users alternative to either use bitcoin or fiat or chose to used both.

It is probably we fully adopt digitalization which could eliminate paper money to a fully cashless system and you are right, it can't be just only cryptocurrency as credit/debit cards can do as well. But it takes many years to impose because as to know that people still need to educate and also it was a big challenge in the place where internet is not avaliable or there is intermitent connections as this only function well if we have stable connections.

In conclusion, while cryptocurrencies have certainly gained a lot of momentum and popularity, their future as a replacement for physical money and as the primary medium of exchange in our everyday lives is still uncertain. It will depend on factors like regulatory acceptance, stability, and widespread adoption.

Currently, digital currencies have gained a lot of popularity.  Every digital currency is very familiar to people. However, even after gaining so much popularity, digital currencies have not yet become one of the means of transactions. For example, people currently transact in various places through digital banking services in addition to paper money, but they are not getting the opportunity to transact through digital currencies. 

But I've read some news lately that I really like.  A few days ago, two gentlemen from Portugal used Bitcoin as a transaction medium to buy and sell their house, which is very good news for the bright future of Bitcoin. Hopefully, in this way, Bitcoin and other digital currencies will become one of the means of transaction.

I agree and I think it would really take time before we could see physical money to be fully replaced bycryptocurrencies. Yes, cryptos' are gaining popularity but majority would think of it immediately as something technical and overwhelming. I think people would take time to absorb the technicalities of this. Government also plays a role in this as majority of countries are still hesitant to whether use it as a currency. But is is a good thing that some countries are now legalizing it since it would become a great way for other to see its advantage and disadvantage as well.

To replace fiat currency in everyday life may not happen in the near future because there are many things that must be considered by the government to replace fiat currency by using crypto, but this will not be impossible because some countries are already using bitcoin as a legal means of transaction, and I believe other countries are considering crypto currencies as legal tender.

It will be used for daily transactions as there is improvement in technology and awareness about crypto,  but won't  be a total replacement. I think it will be used together.

The replacement of fiat currencies by bitcoin seems to be the dream of some market enthusiasts, but it does not seems as a realistic dream or even as something necessary, as long as we could exchange bitcoin for the products and services that we need and the regulation in place at the time does not need that we have to keep track of every single transaction we make to the government that will be enough for me, after all it is not as if every single person out there is ready to become their own banks, and if we forced them I am sure many of them will lose their coins during the first weeks.

Doesn't rule out the possibility but certainly not in the near future. the world's economic situation is unstable and in the post-pandemic recovery period, of course the government also doesn't want to take risks by providing crypto as a means of payment because crypto is also volatile and very risky to use for transactions at this time.

Completely replacing fiat? Nope not going to happen, and if eventually happens it's going to take long time.
If you take about been adopted by lots of countries then I'll agre on that but for Bitcoin / crypto to completely replace physical case then I'll have to doubt that.
We have so many difficulty as to why it's going to be extremely difficult to do, because most communities have those that are not even educated and can't even operate an Android phone not to talk about transacting with Bitcoin and crypto. It's going to talk a lot of work for it to become a possibility.

Yes, there are a few countries that use bitcoin as a payment method, but they still use it in tandem with fiat, they have never abandoned fiat completely. Moreover, the countries that accept bitcoin are poor countries on the verge of default, and they see bitcoin as a solution to save their crumbling economy. Developed countries have no intention of using bitcoin to replace fiat, they don't even care about it. Bitcoin is just an alternative, it will never replace fiat money.

at this time it may still be hard to replace fiat to give bitcoin a chance. although there are countries that use or legalize bitcoin, only countries that have economic problems, we can see that there are no developed countries that have legalized bitcoin, even if only as an alternative. Enjoying bitcoins for money is the main goal nowadays by most of the investors

The trading system continually evolved with time from the beginning of human history, Paper Currency can be considered the most short-lived payment system which is fastly replaced by digital currency. Cryptocurrency can be a replacement for the payment system but I think currently it's not the time. For now, the traditional banking system is resisting the regulation and regularity of crypto as a payment system. It will cause great destruction in the banking system and it will eliminate their dirty business.

For the major regulation, I think besides Bitcoin other currencies don't even stand a chance and Bitcoin regulation is going to be easy because whenever a particular region support Bitcoin the other directly target the Bitcoin and vice versa so I think it might take this cycle to take things to a neutral level.

In general, there is no consensus on the regulation of accepting cryptocurrencies today with each country, and I see some barriers such as economic limitations and influence from major powers leading to Some economies have no autonomy and they are almost dominated by powerful countries. Every time the US and China release information related to crypto, it affects the level of people's access to this space.
But we should also be happy that things have changed for the better when it comes to this market.

Why would people always thought of replacing the fiat currency or the traditional banking system? I thought everyone understands how difficult for it to happen. Going cashless ain't never easy because there are still a lot of flaws in the system created. Bitcoin has it's own flaws too. We cannot always rely to a single option, like we don't only rely with ATM cards that's why we have checks and passbooks too - so if the system fails, you have options to do it manually.
Bitcoin and fiat will co-exist from now on, nothing is replacing fiat currency, simply because not everyone are too techy to handle online transactions especially that Bitcoin transactions are not reversible. 

the technology behind cryptocurrency has the potential to revolutionize the financial industry, and we are likely to see further adoption and integration of cryptocurrencies in various industries. It's possible that in the future, we may see a hybrid system where physical money and cryptocurrencies coexist and complement each other, depending on the needs and preferences of individuals and businesses.

Crypto is part of the currency that allows it to be used as a transaction tool. Will crypto replace fiat? Maybe not. But crypto will run parallel to fiat.
In general, crypto has an unstable value, this cannot be used by the state as a transaction tool. Second, the principle of transparency which makes it contrary to the interests of the mafia, this limits the mafia's movements in conducting transactions. The interests of the mafia in the form of fiat currency are much higher than the interests of the state.

It can be adapted and used as another currency but I don't think it will ever replace fiat.
People are into digital transactions these days as technology innovates but they still prefer using digital money instead of cryptocurrency when it comes to payment and digital purchases.
We all know the huge potential of cryptocurrency to make the economic situation better but people won't choose it over physical money because of its volatility and instability.

Whether a country's currency is stable and valuable depends on the economic situation of that country. As you say, cryptocurrencies make the economic situation better, they are very volatile and unstable. That means that even if fiat collapses, they will not be able to replace fiat, they are more like an asset, a commodity, than a currency. I also never expected bitcoin or altcoins to become currencies, as long as they are volatile and volatile, it cannot happen. And governments will never accept something they cannot control or was not created by them.

This will not happen,crypto will be as an additional payment method or replacement but only in certain stores or service providers.A complete transition in more than one country will not happen,no one will remove the national currency to replace crypto.I don't see 100% acceptance of this method now in more than one country.

Who knows? I think it might be too early to say something like that but I like if that's going to happen. Although, it's really different when you have a physical money than having a digital one but if you look at it in a different perspective it's just the same since you will still use it to pay. When having a crypto currency you just need your wallet which is your phone or computer and the only physical thing you can touch or bring is your phone as wallet. But it all depends on the government since most of the government are against the use or adaption of Bitcoin.

The possibility of money being digitized as we progress as a species is quite real, but I don't think blue-chip cryptocurrencies like bitcoin and ethereum are the ones that will spearhead this movement. They are as volatile as it can be, and their low supply means they couldn't accommodate to the ever-growing population of people who would one day use money for everyday things. Pretty positive that a digital version of money will be available, or maybe even a usable stable coin that could be used for purchases and not just as a pegged cryptocurrency in exchanges.

In the history of humanity, money has not struggled for existence focused on technology. Conflicts over money and economy have been inflation-oriented problems. In other words, there have been "solid currencies and inflationary means of exploitation" in history. All the crises in history have arisen for this reason, and many empires have been destroyed for this reason. The money we use in our daily life is subject to inflation. On the other hand, Bitcoin is in the solid money category. These two do not replace each other. These two conflict with each other.

Impossible to run globally in the near future, regulations in various countries will limit crypto as the main transaction in everyday life. Although though cryptocurrencies have progressed rapidly since their introduction to date.

Anyone cannot go against the regulations made by the state because there are consequences, otherwise you must be prepared to be jailed or subject to sanctions. Logically, we cannot go against the laws that apply in our respective countries of residence and thankfully countries provide access to crypto as a commodity asset that can be traded on exchanges, rather than totally banning it like in some countries in the world.

The condition is still the same as before I think. For future prospects, this possibility can still become a means of payment, but this is clearly underground or only with the approval of those transacting as long as the current regulations are still the same as now.
On the other hand, the role of fiat will still be real even if bitcoin exists, so they will still be an alternative to fiat and cannot replace it.

As yummy as we might have it, being a honey pot and all, cryptocurrency has got its flaws and exclusions too. With that, its hard to imagine a system with exclusions and flaws being the one thing that all humanity is dependent on.

What world has cryptocurrency have for the physically challenged like the blinds?
Do they get a free pass or have others operate there wallets for them (that would be so much breaking the rules as per security/privacy) or perhaps they just die out.
Of course these can't be and as such, we very much need fiat to be fully operational still and I can't imagine a nation that would be wiling to lose the control they get from fiat to cryptocurrency in a parallel or plane measure.

Bitcoin can't replace flat, it can't be use for our day to day transactions. And everybody can't have bitcoin because not everybody knows about bitcoin, how can we teach the older people how to use it, how to carry out transactions, and another thing to look out to are scammers, we have alot of them, physical cash is very important to our day to day transactions, for example payment of transportation to work and to buy little things like food stuff and the rest, not everyone even has a good phone to be carrying out transactions. So I can't see any possibility of bitcoin replacing flat.

What's the need for replacement if it could be an alternative? I see this technology as an alternative more than totally being the only currency to be used on daily transactions, in the future
 Also, that is impossible knowing well its characteristics; volatile market value and decentralization. For a currency to be used widely across the globe it should be first be acknowledged by majority of the countries. It is more likely for this technology and fiat to co-exist in the future than to be Bitcoin alone. Also, for such thing to happen, prices should be solely based with Bitcoin and other cryprocurrencies, and not fiat based, which is something hard to imagine. I doubt with conflict with one another. None is dependent with the other so how come it would create conflict? I'd say their concepts are in contrast.

Crypto wasn't made to replace fiat. That wont gonna happen, fiat will still remain as the main form of money that every country have. Crypto is another form of money we can use as a payment and also for investment purposes. On the other hand, I cant see any reason why it should replace fiat in the future? These two currency have their own strength and weakness, I guess it depends on us now what we are going to use.

Maybe that's good news in that respect. Cryptocurrencies are now used in every part of the world. Everyone has started thinking of it as a transaction method. Its consumption will continue to increase in the coming days. As a result, there is no doubt that digital transactions will be completed at some point in the world. We are moving in that direction as people's confidence in Bitcoin is increasing in recent times. I believe these digital transactions with fiat money will also continue to grow.

Crypto as the main transaction in our daily lives requires enormous change, everything must use digital devices and requires an even internet network and government policies, regulations in each country are different, so if you want to implement something like that, it depends on the people  and government.  but in my opinion physical money will not be replaced crypto currency can only be used as an alternative currency, trade and investment

it is not that easy to replace fiat money which has been around for a long time in all countries. doesn't mean it's impossible, but it takes a long time to make bitcoin or crypto a world currency.
because not everyone and all countries are familiar with bitcoin or crypto, so it takes quite a long time for this ideology to succeed.

I also seen the progress of crypto but i never seen a reason or a way that it will replace fiat, if there will be a new development in the future with some more adoption maybe it will replace fiat, but for now it is still hard because not all of us who are living in different country knows about crypto, many more people also did not know about crypto specially to those who are in a poor status who doesn't know about digital transactions and even internet or using new gadgets.

progress in cryptocurrency is real but we cannot say that it will take a place of fiat money because it has its own use and familiarity. People use bitcoin for the purpose of enhancement money and they can also use bitcoin for the purpose of transaction but as you know that people are not more familiar with crypto and bitcoin but have actual knowledge about fiat.

Fiat Money is useable everywhere and bitcoin is banned in some countries therefore I think that it can never take a position of fiat.

It is difficult to say definitively whether cryptocurrency will replace physical money and become the primary form of payment in everyday life. Cryptocurrency has seen tremendous growth in recent years, but it still faces a number of technological, regulatory, and legal hurdles that could prevent it from becoming a mainstream payment method there are still millions of people around the world who are unfamiliar with the technology behind cryptocurrencies, and who may not be willing to adopt it as a form of payment. Until these issues are addressed, it is unlikely that cryptocurrency will replace traditional forms of payment anytime soon

As what I said before. Crypto will only be an alternative regardless of how domination and movement is currently still fiat will not be replaced and banks will still continue to rule.
The conditions will not change in any way because indeed from the beginning too wasn't this just an alternative so when this has been determined then nothing will change forever it remains an alternative.
Even though there are indeed a number of countries today such as El Salvador that use bitcoin as a legal means of payment, fiat is still very influential and bitcoin accompanies it there.

For cryptocurrency to replace fiat money, it requires, first of all, the willful decision of the government. It is worth considering that the government wants to always control everything, so you should not expect great freedom in the introduction of the state cryptocurrency. So I don't think there will ever be a full replacement.

This is what will generally happen in some years time. Some countries has adopt Bitcoin as a means of making payment and I believe the list will keep increasing till the whole world make it an acceptable means of payment.

If the government is going to move to Cryptocurrencies in the future I don't see how this is good for the space, a Centralised blockchain is bad, just look at how addresses of hackers holding USDC and USDT are blocked and blacklisted, if you are anti-government they can do this to you, change your balance to zero at whim, for Government, it is all about control and more power in the hands of Government is bad

It was only about time for all countries to eventually adopt Bitcoin like some countries are already doing now. Because when all countries have really analyzed Bitcoin and it has not harmed the country, Bitcoin adoption will continue to increase over time. In addition, several large companies have also accepted Bitcoin for payment so that Bitcoin payment services are currently starting to penetrate more widely.

Replacing traditional money completely? The possibility is very slim. Bitcoin and cryptocurrency have to overcome many barriers to replace FIAT as the main exchange tool in society.
First and foremost is infrastructure, where not all merchants can currently accept cashless payments. This is the main obstacle for Bitcoin and other digital currencies that rely on the internet for fund transfers.
Secondly, there is government fiat, which does not want to be replaced. Governments print money to regulate supply and control inflation.
Thirdly, public knowledge of crypto needs to be further improved so that they can understand the ins and outs of blockchain technology and not have difficulty adopting crypto as a payment tool.

While the idea of using cryptocurrency as the primary means of transaction in our everyday life seems possible, there are still some barriers that need to be addressed for this to become a reality. One of the main concerns is the level of security and regulation in the industry, as the decentralized nature of cryptocurrency makes it attractive to hackers and cybercriminals.

Additionally, widespread adoption of cryptocurrency would require a change in mindset and infrastructure, as the current financial system is built around physical money. Despite these challenges, there are many who believe that cryptocurrency will continue to grow and eventually become a viable alternative to traditional currencies. Only time will tell how this will play out ultimately.

It would take a very long time before crypto currency can replace the physical money or fiat as a primary transactions. A lot of people still do not know how to use or transact crypto currencies, proper adoption or education should be learned by all the people. The government of each and every country are the ones who can make a law and implement that. A lot of people also are afraid to use crypto currencies because they think that they will get scammed, that is because of lack of education.

Cryptocurrency progress has almost entered all corners of the world, people who understand how to make transactions using Cryptocurrency first adopt it as a currency that has the same uses as fiat currency. Maybe you have traded with Cryptocurrency, and so have I. When the seller accepts payments using Cryptocurrency, their function is in line with fiat money. If a country opens the door to Cryptocurrency in its territory, Cryptocurrency can coexist with physical currency.

Not yet, as long as fiat continues to exist in every nation on the planet. Even while several nations now accept payments in the form of Bitcoin or other cryptocurrencies, money will still be the primary means of exchange for all transactions. But I already have the impression that the two go hand in hand right now. They are learning about the attempts made by several nations to have CBDC immediately in the context of varied economic restrictions. The CBDC convention is disapproved by some nations.

FIAT money will eventually be replaced with digital FIAT. Bitcoin will be used like it's used today: investment, hedge, HODLing but on a much bigger scale, it will become more widespread imo.

It is already a world currency (not all crypto but BTC). We can see much progress and adoption all over the world now and then. But people's opinion will always remain different from each other. Some are positive and some are negative. So it is not possible to tell 100% accurately that Bitcoin will replace the fiat money system. Because there will always be a group of people who will stand against this concept. They will choose the fiat money system over crypto.
Both can co-exist at the same time. This will create a more friendly environment amongst the users. People can use whatever they prefer. But maybe one day it is possible to see the crypto as a replacement for traditional fiat money.

Bitcoin is a trustable coin but it does not mean that by spreading bitcoin all over the world the paper money will loss its value. The value of paper money cannot be changed and bitcoin and paper money both have their own use cases and both cannot replace one another. paper money is acceptable throughout the globe but bitcoin is somewhat risky so I think paper money will sustain its beneficial role in economic system of a country. There is no possibility of altering the value of paper money so bitcoin is unable to replace it.

Maybe in the future, but not soonest it would take a very long time for all the people to able to adopt in using and transacting crypto currencies. We can see progress now in crypto currencies now but how many percentage of the people do know how to use it? The physical money cannot easily be replaced because a lot of people are still comfortable using it and it would depends on the government if they will adopt it 100%.

To imitate the digital concept? What do you mean by that? Is it the CBDC? And this will be the one that will be used as a replacement for fiats? This is more possible because they hardly have any differences. CBDCs don't have a limited supply and then they don't fluctuate that much like a typical crypto.

There is no need for the banks and governments to imitate decentralization. Remember they hate it right from the start because this makes the cryptos uncontrollable and this is why they create their own version of crypto which are centralized. It might still take time for the whole to convert into digital so let's not worry about this for a while.

Even if fiat is phased out, there is no guarantee that cryptocurrencies will replace fiat. This world is controlled by governments, as long as they exist, bitcoin will never be an option because they will never allow something decentralized to break their centralized system. I still believe that in the future, the fiat system will be replaced or upgraded but with a system created and controlled by them, not bitcoin.

Bitcoin is hard for some people to use, I mean normal people find it hard to use like the normal money because they are used to Fiat already, but the digitalization is changing things gradually but even with that, everybody will not use bitcoin. I personally don't think BTC is a good replacement of Fiat because I don't know we are going to handle our value when the it crash the way it use to do every 4 cycle halving, it will kill the economy very fast as some people might think, some people that are asking BTC to be used as mode pf payment are selfisly doing it for their own sake, they don't care if it affect economy or not, they only want te news to pump there bags.

As time goes on it may replace all forms of money but before then, we have to accept the use of the two altogether till when we get to that stage, also we need to clarify this that not all cryptos will probably be acceptable as currency for payment by then, because bitcoin is the only reliable cryptocurrency that everyone accepts for an exchange or payment of goods and services while some countries adopting it as their legitimate legal tender along with usd, so i can only say that we are getting closer to that time but not yet into it and bitcoin is fast growing.

There are positive and negative sides if Cryptocurrency replaces physical money as the main transaction tool in human life. On the downside, due to volatility, prices can change at any time, which can have a significant adverse impact on economic and financial stability. While on the positive side Cryptocurrency has unlimited potential, for example as experienced by the people of Ukraine when Russia invaded their country. Some of them are very aware of the functions and uses of Cryptocurrency, those who switch or store their wealth in Cryptocurrency can still survive with the wealth they have in the form of crypto assets.

The realization of Cryptocurrency as the main transaction tool in everyday life depends on government policy. In the country where I live there are no signs from the government that cryptocurrency will replace physical money, instead the government makes Cryptocurrency a Commodity Traded on Futures Exchanges and the government has benefited from taxes taken on every transaction.

In a couple of decades much of the world's physical money was replaced with digital money, so the replacement has already started. Now the main problem with cryptocurrency is the status of already created cryptocurrencies: will they replace fiat money, or will fiat money controlling structures ban them and later adopt the technology of decentralised blockchain storage in order to improve the stability of digital fiat money systems...

Do we hope to live in a nation without borders some day? Or
Have some global system of governance?

If the answers to these are "NO", then there isn't any chance that we would have bitcoin or any other cryptocurrency out there to replace fiat. Fiat is very much government product and a very vital tool to centralisation as some way go ensure they maintain some control over its citizens.

Besides, bitcoin has got some downsides to it of which, fiat very much compliments or perhaps I should say fiat came into existence before bitcoin so yeah. There are times when you don't just have any need for digitalism and that's where hard currencies come in. Fiat and bitcoin working together is our best bet for the future.

I see Bitcoin as a general currency that will later be used by the whole world for transaction. This is just a matter of time. 5 years ago, how many people know about Bitcoin? That's to tell us Bitcoin is moving gradually to the point of becoming a universal currency.

In just a few decades Bitcoin would be acceptable transactions around the world since many countries already acknowledge the existence of Bitcoin. But before that to happen, of course it would affect the economic situation of one country as they prefer already the alternative currency which is the Bitcoin. People wouldn't even use fiat if Bitcoin is the first preferred currency which might impact a lot of country to their economic status. But for sure government would take action from it, as I said there's already countries that are open to BTC and still have a stable economic status.

I agree with you that crypto currency had made a great progress, but certainly it is difficult to predict the future although we know that the crypto currency has the potential to become a widely accepted form of payment in the future. Even crypto currencies are popular now, not everyone do know how to use it and they are skeptical on how to use crypto currencies. From the time being physical money would still remains to be seen and will see what will happen in the future if the crypto currencies will truly replace the physical money.

While I am not so particular about the dominance of cryptocurrency over fiat, In my opinion it's not really possible to fully replace paper money by bitcoin. As compare with past bitcoin increase in value over time but side by side Paper money never loss it's value they both have their equal importance in their own place. They can't replace each other but it can be good alternative for each other. Nothing is much more good alternatives then cryptocurrency because it is decentralize and secure in nature.

Cryptocurrencies have shown progress, but it remains uncertain if they will fully replace physical money. Challenges like scalability, regulation, and government acceptance play significant roles. While they offer benefits like faster transactions and increased security, their widespread adoption is influenced by various factors.

Bitcoin is moving steps-by-steps to the point of becoming a universal currency. Bitcoin is the first preferred currency which might impact a lot of country to their economic status. But for sure government would take action from it, as I said there's already countries that are open to BTC and still have a stable economic status. Cryptocurrency as the main transaction tool in everyday life depends on government policy. In the countries where we lived there are no signs from the government that cryptocurrency will replace physical money, but I still believe in the future, the fiat system will be replaced by Bitcoin. Because everyday the technology is upgrading and the technology is getting stronger. And before that time many younger ones and youths are also more dipper in Bitcoin investments, you know the old would not rule forever.

Its not actually hard, it is really just that like on making those casual or traditional online banking transaction but with Bitcoin it is really that a on a decentralized way on which it would really be totally
different. Its not hard to learn up because even with just knowing with the basics then you could completely be able to understand on how it works and how it would really be able to make transactions.
Speaking about being replacement of fiat then it is really that impossible. Why? Here's the reason.

1.  Government wont let fiat would cease to exist.
2.  Fees arent something could compete with fiat
3.  Reversible transactions
4.  Centralized
5.  Stable

We know that Bitcoin or crypto is really totally opposing those key points above.

From my perspective, I totally doubt if Bitcoin or generally Cryptocurrencies will replace FIAT in the near future. As you see the governments and banks are still against digital currencies and they are attempting so hard to break the market down specifically Bitcoin due to the whole market is dependent by it. In addition to that, the crypto could be an alternative but not a replacement of FIAT currencies at this moment. The global economy would be in danger if it happens. Are the governments able to track billions of transactions? Absolutely not. Additionally, It will probably be achieved depending on Bitcoin’s development in next years although in long term maybe in 2030 or 2035.

Well, Fiat currency prices and value are generally more stable than cryptocurrency along with this we cannot underestimate the power and value of cryptocurrency. Most of the Country is trying to  replace cryptocurrency by fiat but it is still very far away because Cryptocurrency is still new, so it may turn out to be as stable as fiat in the future. I personally don't think it will be able to fully eradicate fiat but rather I believe both cryptocurrency and fiat will be used together, getting the same recognition and adoption.

Cryptocurrency will definitely not be able to replace the national currencies of states. Without the decision of the states themselves, such a replacement is impossible, and the states will never give up their currency, since their economy is firmly connected with them. Cryptocurrency still has a long way to go in terms of development and acceptance, but it will most likely only be an alternative to fiat, as was intended when it was created.

Completely replacing it is indeed not possible because fiat has been around for a very long time in the community and has been used for a long time as well in paying for everything that is needed by the community. But if it becomes an option that is almost like fiat, I think it is still very possible because Cryptocurrency also has value and also has uniqueness as a digital currency. So making it an alternative when someone doesn't have money is also not wrong, because even if no one wants to receive it directly in life, everyone can also exchange it first into fiat.

Bitcoin will not be used as a substitute for physical money, but as an alternative to physical money. Because while large amounts of physical money cannot be carried, bitcoins can be easily carried. And Bitcoin is easy and safe to carry. 

This is what El Salvador is currently doing. Bitcoin is accepted there as well as their currency. And Bitcoin is being used as an alternative medium of transaction in various sections. Direct transactions are being done through Bitcoin in coffee shops, sealing stations, various restaurants. It is hoped that such a transaction system will be launched worldwide in the future.

But El Salvador has accepted bitcoin as a legal currency because they have no national currency, they use USD as national currency. Moreover, the fact that they accept bitcoin is because the country is on the verge of default, and bitcoin can be said to be the last solution they can think of.
I don't know how bitcoin grows there, but from what I see, the president of El Salvador is just using bitcoin for investment rather than seeing it as an alternative to USD. So I don't think other countries will follow their actions, this year, we haven't seen a single country accept bitcoin as a legal tender method.

Maybe in 30-50 years, but not right now. The first step would be to get rid of physical cash and only use electronic money, the second step would then be to switch from fiat money to crypto currencies. The problem is that already the first step can't be done in a few years and will take probably 15 years. If I look at my grandmother for example, she only uses cash. All the banking and using her cards is done by my uncle, without cash she would be lost. I think that most elderly people can't be forced to stop using cash, and the politicians won't push it as they are afraid to lose the votes. With the second step to switch to cryptos it would be difficult to get all people to adopt them. If I look at my parents, they have heard of bitcoin but never owned any and are quite sceptical to use them.

Satoshi Nakamoto actually launched the evolution of digital money. 

Of course, this great cypherpunk and libertarian did not plan to create Central Bank Digital Money (CBDC).  However, the success of Bitcoin, Ethereum and other cryptocurrencies prompted the powers that be to decide on the introduction of such a financial instrument as CBDC into circulation. 

Currently, government officials deny that the CBDC will replace cash and all other forms of fiat money.  However, most likely it is. 

Using the example of China, we can conclude that CBDC is an integral and very necessary element of a digital concentration camp.  In my opinion, CBDC is a very strong competitor for cryptocurrencies. 

After all, the introduction of CBDC is supported by the state.

Do you know that bitcoin cannot be used by uneducated people, so I doubt if bitcoin can replace physical money because there are people doing business and they are not educated to use even banks, so let's not talk about bitcoin because we all know bitcoin must be used digitally, so I believe it can only be used as another way of transactions When banks fail to achieve what we desire.

These methods can be applied to Nigeria, where banks where refuse to put money in ATMs for people to withdraw cash, so you can see that if bitcoin is well adopted by then it will be easy for people who believe in bitcoin to use it for their transactions until the cashless period has ended.

Of course it still takes a long time to be able to say that crypto is a substitute for physical money, especially now that the biggest challenge is that there are still many countries that are banned cryptocurrencies, but I'm sure even though cryptocurrencies are very popular, it will never be able to replace Fiat and the government will protect Fiat.

Indeed right, it can be a good alternative when banks or the primary financial institutions failed to provide the service that is being need by the people, but on the OP sentiment, I don't see it yet as there are many factors that still avoiding many people to start learning and using this system, some might don't have that capability to understand while for most they are doubting the system.

They are not willing to take the risk with a potential big losses due to heavy volatility in this industry. Conservatives will continue to use physical fiat currency as a main channel of their transactions.

As some have said, that happens if the government finds a way to control bitcoin in the future. While there is currently no way for them to control it, the future is difficult to predict as technology always evolves. But if they controlled it, we wouldn't need it either, because once bitcoin becomes centralized, it's no different from their fiat currency. So I don't expect them to be able to control it, and it doesn't really matter if bitcoin replaces fiat. As long as bitcoin is always decentralized.

When bitcoin is getting more and more popular, many people hope to replace fiat with bitcoin, this is certainly an enthusiasm that must be proven in practice, many things become barriers to bitcoin completely replacing fiat, and I believe it will be very difficult to completely remove fiat and replace with bitcoins.

Bitcoin is here to stay but the design of Bitcoin won't help it cause to totally replace Fiat currencies, we only have 21 million BTC, and it is not enough for a country not to talk of the whole nations in the world. The idea that Bitcoin will totally replace Fiat currencies to me is wishful thinking and it just needs to play its role in the economy, if Gold was not able to replace Fiat, there is no chance of Bitcoin doing so.