Bitcoin can not replace fiat

[maister77777]

Anyone thinking bitcoin or any digital currency currently in this cryto-world is actually not being truthful to himself or herself because government of this day if their interest will not be protected, nothing will pass no matter how innovative the project is and from the way bitcoin is, I am sure government interest is not put in mind by the developers so on the alternative if the whole world is drifting towards digital currency then countries will start developing theirs as well.

If we take into account the fact that the government will always defend the interests of their own, and thus the interests of its securities, it means that the digital currency will be difficult times.

[Vorth]

Yes, got you intrigued, didn't it?

Bitcoin is a very good thing to have as an asset. Just like gold. Even better if I may say. It's secure, and unlike fiat money it actually exists and work is put into it to produce it. This makes it great to store value.
However, it cannot and will not replace current fiat money that the entire world it using. It just cannot.
Take paying a cup of coffee for example. To pay your coffee with bitcoins, one must get bitcoins first, either by mining or buying bitcoins with other kinds of money (*cough*fiat*cough). It ends up being a quite complicated process, don't you think?
Until we reach the point where paying for a cup of coffee is as easy with Bitcoin as it is with cash, we will never get mass adoption. And as far as I see it, there is no way of simplifying the acquiring of bitcoins.

Exactly, so it means bitcoin will remain crypto currency, which I agree also because of the fact that it is hard to educate or just introduce bitcoin to who ever will ask.

[anasis]

Yes, got you intrigued, didn't it?

Bitcoin is a very good thing to have as an asset. Just like gold. Even better if I may say. It's secure, and unlike fiat money it actually exists and work is put into it to produce it. This makes it great to store value.
However, it cannot and will not replace current fiat money that the entire world it using. It just cannot.
Take paying a cup of coffee for example. To pay your coffee with bitcoins, one must get bitcoins first, either by mining or buying bitcoins with other kinds of money (*cough*fiat*cough). It ends up being a quite complicated process, don't you think?
Until we reach the point where paying for a cup of coffee is as easy with Bitcoin as it is with cash, we will never get mass adoption. And as far as I see it, there is no way of simplifying the acquiring of bitcoins.

Exactly, so it means bitcoin will remain crypto currency, which I agree also because of the fact that it is hard to educate or just introduce bitcoin to who ever will ask.

First you need to decide what you need to have bitcoin. If wages, then that is another matter, and if as a payment rredstva, there will emerge a lot of negative points, especially those that face ordinary people. And it will be the number one problem.

[1Referee]

It may get adopted in some countries like India where people might be interested in using it in place of fiat but that will only be possible if there will be places accepting bitcoin as a payment because though people can hold bitcoins but what will they do with them if they wont have any place for spending them?

I don't think people in India are eagerly waiting for a currency (Bitcoin in this case) that will require them to include $0.15-$0.30 as minimum fee with every transaction. I think even in western countries people aren't ready for this. It simply doesn't make sense to ditch fiat that you can spend instantly without any fees locally, for something that requires you to include a steep (especially for Indian standards) fee with every transaction. If you do your daily shopping here and there, you'll easily be paying +$1 in fees added up. Tell me, for local use, how interesting is Bitcoin as currency tool really compared to fiat?

[ivan.daineko23]

It may get adopted in some countries like India where people might be interested in using it in place of fiat but that will only be possible if there will be places accepting bitcoin as a payment because though people can hold bitcoins but what will they do with them if they wont have any place for spending them?

I don't think people in India are eagerly waiting for a currency (Bitcoin in this case) that will require them to include $0.15-$0.30 as minimum fee with every transaction. I think even in western countries people aren't ready for this. It simply doesn't make sense to ditch fiat that you can spend instantly without any fees locally, for something that requires you to include a steep (especially for Indian standards) fee with every transaction. If you do your daily shopping here and there, you'll easily be paying +$1 in fees added up. Tell me, for local use, how interesting is Bitcoin as currency tool really compared to fiat?

This is for me a little funny. India in general and its development is stuck First people do not perceive a serious Bitcoin

[ophyrim]

Of course can't fiat money replace bitcoin, because we still use fiat money at the end look how much banks they are in the world they won't just change to go to bitcoin. Bitcoin is just good when you trading or other stuff. Also we need fiat for bitcoin price.

lol you right we need fiat for bitcoin price. In my opinion, it is an utopic idea to think bitcoin can replace fiat in the near future.  But the awareness about bitcoin and other cryptocurrencies and also the volume of bitcoin which can be using increase day by day. This is also so important.

[Japinat]

Of course can't fiat money replace bitcoin, because we still use fiat money at the end look how much banks they are in the world they won't just change to go to bitcoin. Bitcoin is just good when you trading or other stuff. Also we need fiat for bitcoin price.

lol you right we need fiat for bitcoin price. In my opinion, it is an utopic idea to think bitcoin can replace fiat in the near future.  But the awareness about bitcoin and other cryptocurrencies and also the volume of bitcoin which can be using increase day by day. This is also so important.

If you will ask the majority of people if they know about bitcoin, it will be easy to determine the answer. No, fiat will always be very useful to us and it cannot be replace by bitcoin, we are very ambitious if we think of that. We have our government and we have to respect the law as it is only for our own good. Don't think the world would be a better place to live when only bitcoin will exist.

[mrcash02]

Of course can't fiat money replace bitcoin, because we still use fiat money at the end look how much banks they are in the world they won't just change to go to bitcoin. Bitcoin is just good when you trading or other stuff. Also we need fiat for bitcoin price.

lol you right we need fiat for bitcoin price. In my opinion, it is an utopic idea to think bitcoin can replace fiat in the near future.  But the awareness about bitcoin and other cryptocurrencies and also the volume of bitcoin which can be using increase day by day. This is also so important.

If you will ask the majority of people if they know about bitcoin, it will be easy to determine the answer. No, fiat will always be very useful to us and it cannot be replace by bitcoin, we are very ambitious if we think of that. We have our government and we have to respect the law as it is only for our own good. Don't think the world would be a better place to live when only bitcoin will exist.

Yes, that is what I think. It's not a good thing to have only one currency in the world, even it being a decentralized one, it's not good. Someone will have a lot of coins of this currency and will control the market. That is what the globalization wants, control the world to have benefits while most people work for them keeping their life style. The plurality of currencies is very important for a free world for all.

[shulio]

Yes, that is what I think. It's not a good thing to have only one currency in the world, even it being a decentralized one, it's not good. Someone will have a lot of coins of this currency and will control the market. That is what the globalization wants, control the world to have benefits while most people work for them keeping their life style. The plurality of currencies is very important for a free world for all.

You dont get the concept of bitcoin yet. No one is able to control the whole thing, the distribution halving every 4 years or so is going to make people that want to control most of it have a hard time. It doeant matter what you think, in the end you might see that alot of country might be switching to digital coin, either bitcoin or their own coins and end fiat's dominance

[onrise]

Totally agree because fiat is being existed for decades and accepted worldwide if your currency is strong. On other hand bitcoin is on nascent stage and not accepted worldwide as of now.

[Kasabus]

Yes, that is what I think. It's not a good thing to have only one currency in the world, even it being a decentralized one, it's not good. Someone will have a lot of coins of this currency and will control the market. That is what the globalization wants, control the world to have benefits while most people work for them keeping their life style. The plurality of currencies is very important for a free world for all.

You dont get the concept of bitcoin yet. No one is able to control the whole thing, the distribution halving every 4 years or so is going to make people that want to control most of it have a hard time. It doeant matter what you think, in the end you might see that alot of country might be switching to digital coin, either bitcoin or their own coins and end fiat's dominance

It would help the success of bitcoin if most countries will switch to digital currencies, but let us not expect that they will use bitcoin as government have their own to promote. Nonetheless, this event will make a great effect on bitcoin economy as a whole.

[SamsungBitcoin]

I think yes no other currency or new currency would take replace the fiat, fiat is much usable than bitcoin since not all of us can access this currency specially for those poor people who can not provide gadgets and internet connection.

[Maslate]

I think yes no other currency or new currency would take replace the fiat, fiat is much usable than bitcoin since not all of us can access this currency specially for those poor people who can not provide gadgets and internet connection.

That's true, although we are always thinking that bitcoin will be popular in the coming years, there is no chance it would be more popular than fiat. The evidence is based on the current number of users now, and I know you guys know that majority of use are using fiat with an ease.

[X-ray]

Of course can't fiat money replace bitcoin, because we still use fiat money at the end look how much banks they are in the world they won't just change to go to bitcoin. Bitcoin is just good when you trading or other stuff. Also we need fiat for bitcoin price.

lol you right we need fiat for bitcoin price. In my opinion, it is an utopic idea to think bitcoin can replace fiat in the near future.  But the awareness about bitcoin and other cryptocurrencies and also the volume of bitcoin which can be using increase day by day. This is also so important.

Just if fiats weren't existed and people still using gold as a trade tools, don't you think that when bitcoin is invented and becoming popular like now people will determine the value of bitcoin based on gold?
it's not because we need fiat for bitcoin price but we're all as bitcoin users adapting with circumstance and choose the most simple way

[slapper]

I think yes no other currency or new currency would take replace the fiat, fiat is much usable than bitcoin since not all of us can access this currency specially for those poor people who can not provide gadgets and internet connection.

That's true, although we are always thinking that bitcoin will be popular in the coming years, there is no chance it would be more popular than fiat. The evidence is based on the current number of users now, and I know you guys know that majority of use are using fiat with an ease.

are you out of your mind? There are many evidence that bitcoin is becoming more and more popular over every year. The number of members in this forum keeps increasing every day and the number of the Bitcoin transaction also increase significantly. Bitcoin will surely become more famous than FIAT because it has many useful function than traditional currencies

[GreenBits]

I think yes no other currency or new currency would take replace the fiat, fiat is much usable than bitcoin since not all of us can access this currency specially for those poor people who can not provide gadgets and internet connection.

That's true, although we are always thinking that bitcoin will be popular in the coming years, there is no chance it would be more popular than fiat. The evidence is based on the current number of users now, and I know you guys know that majority of use are using fiat with an ease.

are you out of your mind? There are many evidence that bitcoin is becoming more and more popular over every year. The number of members in this forum keeps increasing every day and the number of the Bitcoin transaction also increase significantly. Bitcoin will surely become more famous than FIAT because it has many useful function than traditional currencies

Im agree with you Bitcoin will became popular for years but Bitcoin can not replace fiat because do you think every country and government accept Bitcoin to destroy thier fiat system my answer is no.Because government they didn't accept Bitcoin but they make their own Bitcoin (crypto currency) in the future.Thats my opinion only.

[Reid]

An option sounds better than replacing it. Still the easiest way to transact is thru a physical money. Think about the places where there are markets everywhere. I mean like China where they have street foods. How can you pay up so fast with opening your bitcoin account in your phone then password then more. This will take a while and will make a long queue on the line.

[diegz]

An option sounds better than replacing it. Still the easiest way to transact is thru a physical money. Think about the places where there are markets everywhere. I mean like China where they have street foods. How can you pay up so fast with opening your bitcoin account in your phone then password then more. This will take a while and will make a long queue on the line.

Yup, it's good as an alternative when you are out of cash in the future. Who knows, one day, merchants might start to accept bitcoin in their business.

But that is very much true, instead of carrying with you your QR code and scan to pay, I think it's really practical if you would just hand out a cash specially on busy streets. Who knows, someone might be following you with a bad intention then snatch your phone while you are paying.

[Carlsen]

To me I do not ask the question if bitcoin can replace fiat, because I do not think it should.
I think it's fine when both can coexist. The way it is now is perfect for me.
If I want to pay with fiat, I pay with fiat. If I want to use bitcoin, I convert fiat into bitcoin. That's the best solution I can imagine.

[poplolnman]

An option sounds better than replacing it. Still the easiest way to transact is thru a physical money. Think about the places where there are markets everywhere. I mean like China where they have street foods. How can you pay up so fast with opening your bitcoin account in your phone then password then more. This will take a while and will make a long queue on the line.

Yeah but when the world transform to a digital era where physical money aren't as popular as digital money like bitcoin would make fiat eliminated slowly, i believe it could happened someday but not now not in the near future. An option for online transaction beside fiat is happening right now by the way.