What happens to regular currency?

[goldade]

I am, admittedly, new to Bitcoin but this question never leaves me. If bitcoin is not a bubble, if bitcoin somehow makes itself the international standard currency, what happens to the people who never bought bitcoin? Will they be provided a timeframe in which they will have to exchange their money from traditional currency to the cryptocurrency before traditional currency is phased out and deemed worthless or will there be another method of transition?

There is no way possible for bitcoin to replace fiat currency.  Usage of bitcoin as a currency demands literacy on the part of the citizens, internet services everywhere across the nation and endorsement by the government. It is only when these are available can bitcoin replace fiat as a currency. 
But then,  there is no way everyone can be literate most especially in developing countries. Most people also do not get access to internet especially in rural areas and most government of the world despise bitcoin and would not accept it as a currency.
So there's definitely no way bitcoin can replace fiat.

[nufeils]

Bitcoin will replace regular currency around the world. Fiat as we know it won't exist for much longer i think.

[markint]

Actually, I do not believe that bitcoin will become the currency in common use for the majority of the world's citizens ever, because at this moment a third of the world's population does not even have access to basic health services and could not aspire to the devices and knowledge required to enter the bitcoin technology. I think that at least for the next 15 years the cryptocurrencies will continue to live with the fiat money with no problem.

[tomwalsh]

I am, admittedly, new to Bitcoin but this question never leaves me. If bitcoin is not a bubble, if bitcoin somehow makes itself the international standard currency, what happens to the people who never bought bitcoin? Will they be provided a timeframe in which they will have to exchange their money from traditional currency to the cryptocurrency before traditional currency is phased out and deemed worthless or will there be another method of transition?

You haven't really got a grasp on what currency is, its just a store of value. If bitcoin were(which it won't) to start taking over fiat in all cases your fiat would still be able to be exchanges to bitcoin, it wouldn't just become worthless out of nowhere.

[Nevis]

I am, admittedly, new to Bitcoin but this question never leaves me. If bitcoin is not a bubble, if bitcoin somehow makes itself the international standard currency, what happens to the people who never bought bitcoin? Will they be provided a timeframe in which they will have to exchange their money from traditional currency to the cryptocurrency before traditional currency is phased out and deemed worthless or will there be another method of transition?

I think what we value to bitcoin is its convenience and system of transactions.
We don't really need to make it as a standard currency as it will break the economic system of the country.
The government will not gain allowance for different agricultural, infrastructural projects which benefits its people.

We can use it for transactions after we convert our money. We use it for investments to gain profits. We use it for much more things. We enjoy it because we can convert it to fiats for us to spend. What we just want is for countries to adapt it. To accept it as a form of currency but not use it full time to abandon their own form of currency.

[eminemcookie]

Actually, I do not believe that bitcoin will become the currency in common use for the majority of the world's citizens ever, because at this moment a third of the world's population does not even have access to basic health services and could not aspire to the devices and knowledge required to enter the bitcoin technology. I think that at least for the next 15 years the cryptocurrencies will continue to live with the fiat money with no problem.

How does not having access health services predetermine someone to not possess the knowledge to be able to enter in to bitcoin? Granted it may have a correlation with not having access to the devices to access bitcoin. Bitcoin can live with FIAT for an infinite period, bitcoin does not have to reach the 'end goal' so to speak, to be able to offer utility to users.

[commanderbitcoin]

I am, admittedly, new to Bitcoin but this question never leaves me. If bitcoin is not a bubble, if bitcoin somehow makes itself the international standard currency, what happens to the people who never bought bitcoin? Will they be provided a timeframe in which they will have to exchange their money from traditional currency to the cryptocurrency before traditional currency is phased out and deemed worthless or will there be another method of transition?

Bitcoin is designed as an alternative of fiat currency and not as replacement. But if the government adopt Blockchain technology, it would be possible to have a cashless society. However there are many challenges because in Blockchain technology,  government cannot reproduce  another coin that can support the nation in case of emergency unlike in fiat they can easily  reprint another bills if they want to.

[PMmesexycoins]

I don't think it's likely for it to disappear, but it could undergo changes.

I doubt bitcoin can stand on its own, it works while coupled to the existing system. Issue is if that fiat losses enough ground, then governments as we have them might disappear. Without the common laws, many things you take for granted wouldn't work anymore.

[CyberKuro]

I am, admittedly, new to Bitcoin but this question never leaves me. If bitcoin is not a bubble, if bitcoin somehow makes itself the international standard currency, what happens to the people who never bought bitcoin? Will they be provided a timeframe in which they will have to exchange their money from traditional currency to the cryptocurrency before traditional currency is phased out and deemed worthless or will there be another method of transition?

Bitcoin still in the early of development, it's way too far to think about bitcoin become the international standard currency
In fact, I don't think bitcoin can achieve that due to some basic reasons such as;
- Fiat currency is the legal means of payment in every country, bitcoin is not.
- Bitcoin can't afford massive transactions due to scale problem
- Bitcoin is an alternative currency, doesn't meant to be the main currency to replace fiat currencies such as dollar or euro.

[thisappointed]

Fiat can't be replaced. Some industries don't need internet. Such industries also don't need bitcoins, because bitcoin is attached to the Internet. I think in the next ten or twenty years, the application of bitcoin and other encrypted currencies will be more and more, and this will be an ongoing trend!

Yes it could. It is not true that some industries don't need internet, it is just they are not using them, but once bitcoin will be the world's currency, then they don't have a choice but to use bitcoin and of course to access the internet also. We are in the age where technology is our partner on our works, in order to make things easy and to save time.

And bitcoin could be the one that lead us to a bright future, a whole world using bitcoin is a world with full of hopes and dreams, in my opinion.