Bitcoin can not replace fiat

[Oops]

Bitcoins will never replace fiat .this type of technology is far ahead of his time .and people should 20 percent of their income in bitcoins which will help in the future.

Holding 20% in BTC is a good idea, and 10% in favorite alts you will have a winner in a few years.

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[simpler2016]

Bitcoins will never replace fiat .this type of technology is far ahead of his time .and people should 20 percent of their income in bitcoins which will help in the future.

Holding 20% in BTC is a good idea, and 10% in favorite alts you will have a winner in a few years.

and I believe that a greater percentage of the savings can be stored in Bitcoins. Especially now, when cryptocurrency becomes more expensive. She did not depreciate as Fiat

[BitcoinPanther]

For the moment I think excessive if the existence of the bitcoin replacing fiat money. One of the functions of the State is to ensure that prices are stable, and that can only be done with fiat money. We all know, bitcoin in 1 year have gone up about 250%, and this could make deflation so that people will not be issuing a bitcoin and hold bitcoin.

Government will issue currency that is under their control, without their control, economy will break down whether the people hoard or don't want to hold their bitcoin anymore. Not to mention that the number of bitcoin might not suffice to replace fiat of a certain country.

I don't think that there is an issue with the number of bitcoin, it is more than what you think it is. But I have to agree that government wanted to control everything especially the currency because it has a direct effect to its economy.  A person just look after his own welfare while the government look after the entire country's welfare.  A currency that is favorable to some number of population does not conclude that it will be favorable to the whole country.  So government are being careful with the decision, and rather than the government adopting bitcoin, they will more likely create their own controlled digital currency.

[deisik]

For the moment I think excessive if the existence of the bitcoin replacing fiat money. One of the functions of the State is to ensure that prices are stable, and that can only be done with fiat money. We all know, bitcoin in 1 year have gone up about 250%, and this could make deflation so that people will not be issuing a bitcoin and hold bitcoin.

Government will issue currency that is under their control, without their control, economy will break down whether the people hoard or don't want to hold their bitcoin anymore. Not to mention that the number of bitcoin might not suffice to replace fiat of a certain country.

I don't think that there is an issue with the number of bitcoin, it is more than what you think it is. But I have to agree that government wanted to control everything especially the currency because it has a direct effect to its economy.  A person just look after his own welfare while the government look after the entire country's welfare.  A currency that is favorable to some number of population does not conclude that it will be favorable to the whole country.  So government are being careful with the decision, and rather than the government adopting bitcoin, they will more likely create their own controlled digital currency.

Do you really believe in that?

Namely, that governments look after the welfare of the entire country? Personally, I'm strongly inclined to think that governments (i.e. any government, for that matter) care for their own welfare in the first place. And only insomuch as the welfare of the country affects their own welfare, they care about the "common good". This claim can be very easily substantiated. Governments are known for their corruption and inefficacy, but does it mean that they are braindead?



Since it is hardly so, we are left with only one conclusion (and you guess which)

[DrGuns4Hands]

bitcoin is just a thing that help us to save more fiat when we convert it. that's why bitcoin is just a backup for our fiat system. but fiat system cannot be replace by bitcoin because we all know our government gaining money through fiat system and there's a lot of companies that using fiat system thats why they cannot remove it and replace to bitcoin.

[coynedterm]

Of course, BTC cannot replace fiat. I certainly don't want BTC to replace fiat. I love fiat. I'll never use anything but cash to get a drink. I love having a thick stack of banknotes in my pocket. The goal should be to replace credit cards, traveler checks, and that's huge.

yeah , According to the current popularity of Bitcoin it is no possible to replace fiat by Bitcoin .
Because we can't complete our daily needs by now only the direct use of Bitcoin alone  . In practical life we need use of fiat at every step .

[Seansky]

Somewhat I agree to what OP said since there are many reasons why bitcoin cannot replace fiat in the next 100 years or so on. One of the reasons I think is because people just don't trust crypto currencies yet. Many of the worlds population does not know about crypto currency yet. Another reason is that government would not let it happen that easily, if fiat were to be replaced by a crypto currency, I guess they will create their own one, a centralized crypto currency for them to be able to control it.

[deisik]

Somewhat I agree to what OP said since there are many reasons why bitcoin cannot replace fiat in the next 100 years or so on. One of the reasons I think is because people just don't trust crypto currencies yet. Many of the worlds population does not know about crypto currency yet. Another reason is that government would not let it happen that easily, if fiat were to be replaced by a crypto currency, I guess they will create their own one, a centralized crypto currency for them to be able to control it.

They won't do that for a number of reasons

First, they already have all they need. Fiat is mostly digital, and it is a centralized cryptocurrency in its own right (with cash as a nice bonus), so why should they give a fuck about some Bitcoin? Second, if they really wanted to create a true competitor to Bitcoin, that itself would very be detrimental to the fiat currency in the long run. Just because their Bitcoin would be competing not with the genuine one, but with the fiat money they issue. And the most important of all this would be more people learning about authentic Bitcoin and ending up using it, instead of any fiat or copycat currency

[icecube45]

Of course, BTC cannot replace fiat. I certainly don't want BTC to replace fiat. I love fiat. I'll never use anything but cash to get a drink. I love having a thick stack of banknotes in my pocket. The goal should be to replace credit cards, traveler checks, and that's huge.

yeah , According to the current popularity of Bitcoin it is no possible to replace fiat by Bitcoin .
Because we can't complete our daily needs by now only the direct use of Bitcoin alone  . In practical life we need use of fiat at every step .

Yes very true, bitcoin will not be able to replace fiat for in daily needs we still need a fiat to the transaction. So I think until whenever bitcoin will not replace fiat as you say. But bitcoin could become an alternative currency for online transactions, it is very possible to happen. Because bitcoin in my opinion has the potential to be used in online transactions.

[shulio]

there are many reasons why bitcoin cannot replace fiat in the next 100 years or so on.

There are many reason for that however do you thin the government will let bitcoin took over their originial fiat money? obviously know and that is not a secret anymore, if you do have something and someone offering you something that is better in comparison to yours however that you wont really possess it anymore, will you be switching?of course no

[Berns]

there are many reasons why bitcoin cannot replace fiat in the next 100 years or so on.

There are many reason for that however do you thin the government will let bitcoin took over their originial fiat money? obviously know and that is not a secret anymore, if you do have something and someone offering you something that is better in comparison to yours however that you wont really possess it anymore, will you be switching?of course no

I am sure that the government is the main enemy of Bitcoin. That is why Bitcoin will not be able to replace the Fiat. Government is not profitable

[Omega Weapon]

Personally I don't think bitcoin was ever devised to replace fiat at all, it is going to become a currency that despite not being backed by any government it is going be valuable and useful for a significant amount of the world population, but fiat will continue to exist.

I think anyone can be against the government would lose. bitcoin is not backed by the government would bitcoin will not be able to beat the government. The law certainly
but I hope that bitcoin will equal the future fiat

Bitcoin will never come to close the level of fiat, ever. I really think we should be happy with the fact that Bitcoin is just an alternative currency.

Because as it stands now, Bitcoin isn't subject to all kinds of ridiculous laws and policies as is the case with fiat, precious metals, and the list goes on.

Bitcoin is freedom, and people slowly start to realize that. It offers people a great opportunity to fairly easily escape from the governmental system that is only working against people.

I like too the fact bitcoin is still not that big, first because it allows us to try to get more bitcoin when bitcoin finally skyrockets and two the regulation in my country regarding bitcoin is still very lax so I can get my hands in bitcoin without too much problem.

You are lucky to live in a country that being is not regulated but in the future it can be regulated so as much as possible you save as many as you can. Mostly in less developed countries that's the nature and you are luckier since we are earning fair online but the value your are getting is bigger when converted to fiat.

Yes I know I’m lucky, while I like the recent price increase for bitcoin I’m worried that if the price gets too high it could attract the attention of authorities and then they will regulate bitcoin with more strict laws.

[Noctis Connor]

as far as I know bitcoin will never replace fiat because fiat system has been implemented a long years ago and our government will never agree for the disappearance of fiatsystem and use bitcoin remember the creator of bitcoin is still anonymous and still don't have a name that's why bitcoin will never be our primary use in everyday life maybe we can use it as a backup wallet therefore many companies accepting bitcoin as apayment but still they didn't investing on bitcoin they're only using bitcoin to received money from their consumers.

[jaysabi]

It cannot replace fiat since a lot of people haven't known Bitcoin or basically cryptocurrency. The flawlessness of being transparent of the transactions, the information of the user is not needed, and the decentralized power of Bitcoin makes it great but lay people only see the bad side of it. They don't see the possibility of Bitcoin being used as transactions in our daily lives. I feel a gleaming ray of hope that sometime in the future, we would all be paperless.

fiat is control by government and i think they don't want to replace them.. but if government accept bitcoin i am sure they will ask for large task for bitcoin since the benefits of bitcoin is price increases government are greedy..
For me it is impossible to replace fiat with bitcoin since bitcoin is use for online activities how about the local activities so fiat still be prefer.

There will be a worldwide revolution both online and in the physical world if the Governments deny using Bitcoin as the main currency. Because Bitcoin is not being controlled by the Government, more people will decide to choose Bitcoin instead of Fiat. Bitcoin also gives users a higher opportunity of being protected personal information. And Bitcoin users do not have to pay tax at all

What kind of tax are you talking about? Because when you buy something from an online merchant that accepts Bitcoin, they collect sales tax. It's not like using Bitcoin is a license to avoid taxes.

[jaysabi]

there are many reasons why bitcoin cannot replace fiat in the next 100 years or so on.

There are many reason for that however do you thin the government will let bitcoin took over their originial fiat money? obviously know and that is not a secret anymore, if you do have something and someone offering you something that is better in comparison to yours however that you wont really possess it anymore, will you be switching?of course no

I am sure that the government is the main enemy of Bitcoin. That is why Bitcoin will not be able to replace the Fiat. Government is not profitable

Right now, increasing fees are the main enemy of Bitcoin. It makes commerce is bitcoins too expensive. When you have to pay 50 cents to $1 on small transactions, that's not price effective. You could do a digital fiat transaction with a credit card or debit card and pay no fee for the transaction.

[Babayega31]

It's probably something that would not happen in a few years, but I believe there will come a point where the number of users, who will realize the benefits of using Bitcoin, will increase at a rate never seen before.

I think though users bitcoin is growing and very much it would not make bitcoin replace fiat, it's a sure thing! but for a price of course there will not be people who know about it, maybe the price will explode

It will not replace fiat currency because bitcoin is compatible as well and it can be converted with each other specially of online wallet transaction without fiat you cannot hold cash in hand when you cash out your crypto currency to fiat currency. Thats why bitcoin cannot replace fiat as well and most common reason fiat is very important to bitcoin they are somewhat partners of online transactions.

[deisik]

It's probably something that would not happen in a few years, but I believe there will come a point where the number of users, who will realize the benefits of using Bitcoin, will increase at a rate never seen before.

I think though users bitcoin is growing and very much it would not make bitcoin replace fiat, it's a sure thing! but for a price of course there will not be people who know about it, maybe the price will explode

It will not replace fiat currency because bitcoin is compatible as well and it can be converted with each other specially of online wallet transaction without fiat you cannot hold cash in hand when you cash out your crypto currency to fiat currency. Thats why bitcoin cannot replace fiat as well and most common reason fiat is very important to bitcoin they are somewhat partners of online transactions.

Whatever would be the value of bitcoin, yes it won't replace fiat. This is already a long discussion whatever would be our speculation, no doubt that bitcoin won't replace fiat no matter what happens. Government will not risk the financial system into a decentralized crypto currency and has a limited supply that can't be supplied if they want to.

You seem to be missing a few important details in the "bigger picture"

I'm also inclined to think that governments in general are not going to endorse Bitcoin use in any possible way (apart from accepting it as a foreign currency of sorts), though the Swiss government may disagree with this. But that's not my point. Important details that I'm talking about consist in the possibility of governments themselves going away at some point in the future given the overwhelming tendency of the world becoming a tighter place overall, primarily through Internet. In this way, whether they like Bitcoin or dislike it may turn to be irrelevant in the end

[ivan.daineko23]

Bitcoin as an asset today is very beneficial, especially against the background of expectations of price cryptocurrency. But the question is, whether bitcoin will continue to attract investors when the price reaches the ceiling?

[Superways]

there are many reasons why bitcoin cannot replace fiat in the next 100 years or so on.

There are many reason for that however do you thin the government will let bitcoin took over their originial fiat money? obviously know and that is not a secret anymore, if you do have something and someone offering you something that is better in comparison to yours however that you wont really possess it anymore, will you be switching?of course no

I am sure that the government is the main enemy of Bitcoin. That is why Bitcoin will not be able to replace the Fiat. Government is not profitable

I do not think that government is not profitable with bitcoin and because of that the government is against bitcoin but according to my views the governments do not find any tool to take the control of bitcoin and that is why they do not want to give it their legality and their support.

[thejaytiesto]

If we are going to replace fiat with bitcoin, then we need a way to scale bitcoin into trillion, and the only way we can do this is by Lightning network, so get your ass to work and tell everyone you know to start activating segwit by downloading bitcoin core 0.13.1 and running it all day.