Bitcoin to replace fiat

[andieoke]

Is it possible that Bitcoin will be able to replace paper money, the answer is possible and impossible, only the time will answer it later. but if a country changes fiat with Cryptocurrency by creating a blockchain, can this be used to pay off debts of course the answer is that it won't work, because Fiat's debt must be with Fiat.

[Best Dreams]

I think that is indeed the right way to reduce debt to the state, and using Blockchain technology will be very profitable in the financial system.

Indeed there are good impression coming from Bitcoin which is the mainstream manifestation of the Blockchain Technology, this technology has brought transparency and freedom for it users. For Bitcoin to possess these features will likely replace the fiat but will take sometime to dethrone FIAT.

This is an incorrect idea to think that it could be deposed by FIAT. Blockchain or Bitcoin technology cannot help a country get richer or reduce public debt. Blockchain and Bitcoin technologies are tools for wealthy people to become richer.

Well for me this is best things ever and if people are rich in my place it is all only because of bitcoins I am very sure very soon there will be not need to use fiat as everything is already becoming with bitcoin instead of bitcoin, people are investing with bitcoin, they are buying options and investing as well so I am happy to sue bitcoin only all times without any problem.

[Daniel91]

I don't think that bitcoin can replace fiat.
We still don't live in digital society and need paper money.
Also, we need banks because of mortgage and other things.
Also, who will be legally responsible for bitcoin?
Who have right to make laws about bitcoin?
 

[tunapa]

Bitcoin is not the solution to those issues you highlighted. Many government have been in debt for a long time and have been managing it for quite a while even before the emergence of bitcoin . So it’s not a new thing to them and won’t even move them to adopt bitcoin and blockchain because of that . I will prefer they adopt bitcoin because of it’s freedom and transparency and the importance of the blockchain technology to enhance human life.