Bitcoin can not replace fiat

[agamasrori]

Surely, I'm sure until whenever bitcoin can not replace a fiat money. This is because fiat money is the currency of the country so that the State had complete control of fiat money.

Government will not even take a risk for changing LR replacing the fiat money with bitcoin. We know that it is decentralized and its control cannot be done easily by a country. And whether a country will change their fiat to bitcoin they can be manipulated by whales and their economy can be ruined.

may legally not going to happen, but we know that bitcoin provide anonymity to users. if people around the world prefer to use bitcoin than fiat, the government will not know anyone using bitcoin except in the legal industry. so in practice bitcoin still can replace fiat.

[gabmen]

Surely, I'm sure until whenever bitcoin can not replace a fiat money. This is because fiat money is the currency of the country so that the State had complete control of fiat money.

Government will not even take a risk for changing LR replacing the fiat money with bitcoin. We know that it is decentralized and its control cannot be done easily by a country. And whether a country will change their fiat to bitcoin they can be manipulated by whales and their economy can be ruined.

may legally not going to happen, but we know that bitcoin provide anonymity to users. if people around the world prefer to use bitcoin than fiat, the government will not know anyone using bitcoin except in the legal industry. so in practice bitcoin still can replace fiat.

That is if people around the world would prefer to use btc. As we all know a lot is rrquired to use btc and not all people can meet thiae requirements. So i think there's only one realistic answer to this question and that is no. Btc may thrive in the long run and may be widely used but it won't replace fiat

[danherbias07]

Surely, I'm sure until whenever bitcoin can not replace a fiat money. This is because fiat money is the currency of the country so that the State had complete control of fiat money.

Government will not even take a risk for changing LR replacing the fiat money with bitcoin. We know that it is decentralized and its control cannot be done easily by a country. And whether a country will change their fiat to bitcoin they can be manipulated by whales and their economy can be ruined.

may legally not going to happen, but we know that bitcoin provide anonymity to users. if people around the world prefer to use bitcoin than fiat, the government will not know anyone using bitcoin except in the legal industry. so in practice bitcoin still can replace fiat.

That is if people around the world would prefer to use btc. As we all know a lot is rrquired to use btc and not all people can meet thiae requirements. So i think there's only one realistic answer to this question and that is no. Btc may thrive in the long run and may be widely used but it won't replace fiat

Knowledge is the only the thing required to use bitcoin or money if you want to invest.
It wont replace fiat yet. Not now, parts of the world are not modernize yet. There are people who lives in the street and are just counting on fiat. This will be a big change if ever they want to make it happen and that is the thing that requires a lot including, putting in their law.

[muddafudda]

The digital economy is ruled by Bitcoin. With the recent news financial journalists and analysts, economists, and investors have attempted to predict the possible future value of bitcoin. The "death" of bitcoin has been proclaimed numerous times. Some economists have responded positively to bitcoin while others have expressed skepticism. Recent bitcoin developments have been drawing the interest of more financially savvy politicians and legislators as a result of bitcoin's capability to eradicate fraud, simplify transactions, and provide transparency, when bitcoins are properly utilized.

[Ipwich]

The digital economy is ruled by Bitcoin. With the recent news financial journalists and analysts, economists, and investors have attempted to predict the possible future value of bitcoin. The "death" of bitcoin has been proclaimed numerous times. Some economists have responded positively to bitcoin while others have expressed skepticism. Recent bitcoin developments have been drawing the interest of more financially savvy politicians and legislators as a result of bitcoin's capability to eradicate fraud, simplify transactions, and provide transparency, when bitcoins are properly utilized.

Some people would always say that bitcoin will not last in the future as this will only be use massively for illegal activities and no use for the humanity in good ways, I don't agree with that, before they say they should know first and experience using bitcoin in their lives.

Every people has different perception on bitcoin now and that perception will make them decide to speculate the future.

In my own understanding with the information and read and analyze, I believe the development will continue and more progressive in the future, as to how progressive it is, it cannot be measure as it primarily relies on how we accept bitcoin..

[dominikherzog5]

Bitcoin has no such support as fiat currency, we are talking about trilions of dollars, while bitcoin is at bilions, its far away to get close even gold market. Bitcoin wont replace anything it can be used as store of value, like gold, but hasnt power to replace anything, some services may fail or loose costumers as WU but in the end this wont damage enought to make they close doors, bitcoin need to improve a lot till be able to replace anything if it will do that someday.

[justdimin]

Fiat currency cannot be replaced with bitcoin because fiat currency price is not fluctuating and the price is stable and changes is not erratic. We all knew bitcoin is very profitable on investments but the whole world still not using it as a method of spending because of that reason that btc price is not stable of its price, sometimes it rises and may fall very low.

Fiat is surely a strong so it's not going to happen that bitcoin will ever replace fiat. But the good thing is that bitcoin can be considered as fiat.

We can use it actually for different transactions that we are going to do, buying of different goods and services that we wish to purchase.

Fiat currency is supported by the state, even with the help of the law. Competitions without major trumps bitcoin lose. Members will have to make concessions. But who would agree.

The government does not want to give Bitcoin. Because it can not control cryptocurrency. The government will always support Fiat. Therefore, it will always exist

Yes that is it. That is why any cryptocurrency or any kind of digital money will ever take the crown off from the fiat because government is the biggest enemy of any digital money since they can't control the market or the price of the digital money then they will not support it because they can't get too much benefit like having tax. Government will stick to fiat because it gives them money but not on bitcoin.

Yeah that is true, governments and banks are not comfortable with cryptocurrency because they cannot control it, and that is why they are trying to ban and force the ones who to use it to switch to fiat, so as long as governments are not supporting the bitcoin or the whole cryptocurrency idea bitcoin cannot replace fiat.

[X-ray]

Bitcoin has no such support as fiat currency, we are talking about trilions of dollars, while bitcoin is at bilions, its far away to get close even gold market. Bitcoin wont replace anything it can be used as store of value, like gold, but hasnt power to replace anything, some services may fail or loose costumers as WU but in the end this wont damage enought to make they close doors, bitcoin need to improve a lot till be able to replace anything if it will do that someday.

Too early for think if the bitcoin will be replacing everything in the future. I mean just try to realise about some problem was existing on the bitcoin such as the scaling problem and others. Bitcoin is not ready for replacing anything as soon as possible.

[BitcoinPanther]

Surely, I'm sure until whenever bitcoin can not replace a fiat money. This is because fiat money is the currency of the country so that the State had complete control of fiat money.

Government will not even take a risk for changing LR replacing the fiat money with bitcoin. We know that it is decentralized and its control cannot be done easily by a country. And whether a country will change their fiat to bitcoin they can be manipulated by whales and their economy can be ruined.

may legally not going to happen, but we know that bitcoin provide anonymity to users. if people around the world prefer to use bitcoin than fiat, the government will not know anyone using bitcoin except in the legal industry. so in practice bitcoin still can replace fiat.

And this does not mean that Bitcoin will replace fiat.  This means Bitcoin being alternative currency far from the government control.  It needs a government's approval if a certain currency will be use as the main one to replace the current currency and I do not see being approved as that.

[Liad.Services]

Surely, I'm sure until whenever bitcoin can not replace a fiat money. This is because fiat money is the currency of the country so that the State had complete control of fiat money.

Government will not even take a risk for changing LR replacing the fiat money with bitcoin. We know that it is decentralized and its control cannot be done easily by a country. And whether a country will change their fiat to bitcoin they can be manipulated by whales and their economy can be ruined.

may legally not going to happen, but we know that bitcoin provide anonymity to users. if people around the world prefer to use bitcoin than fiat, the government will not know anyone using bitcoin except in the legal industry. so in practice bitcoin still can replace fiat.

And this does not mean that Bitcoin will replace fiat.  This means Bitcoin being alternative currency far from the government control.  It needs a government's approval if a certain currency will be use as the main one to replace the current currency and I do not see being approved as that.

That's right.
Bitcoin is curently not supported by  any of the governments, it is not considered to be a legal tender and that's one of the reasons that bitcoin at his current state will never become a replacement to fiat.

[Harlot]

Actually you are right with your statement. Why complicate things when Fiat can handle all of the transactions done. With Bitcoin as a currency you will add up extra time in finding stores that accept, converting your fiat to Bitcoin, and also waiting time for the transaction to be confirmed. With Fiat everything can be an instant and hassle free.

[ged00u]

Actually you are right with your statement. Why complicate things when Fiat can handle all of the transactions done. With Bitcoin as a currency you will add up extra time in finding stores that accept, converting your fiat to Bitcoin, and also waiting time for the transaction to be confirmed. With Fiat everything can be an instant and hassle free.

you know, people are too stingy to pay for the fee although they do not have to pay the tax why using Bitcoin. Increasing the transaction fee will solve all the problems. If you do not want to wait, just increase it and you will satisfy with your decision. Segwit is also very useful. However, miners deny using this feature since they believe that Segwit will reduce the amount of fee they can have per transaction

[VTCutch]

Surely, I'm sure until whenever bitcoin can not replace a fiat money. This is because fiat money is the currency of the country so that the State had complete control of fiat money.

Government will not even take a risk for changing LR replacing the fiat money with bitcoin. We know that it is decentralized and its control cannot be done easily by a country. And whether a country will change their fiat to bitcoin they can be manipulated by whales and their economy can be ruined.

may legally not going to happen, but we know that bitcoin provide anonymity to users. if people around the world prefer to use bitcoin than fiat, the government will not know anyone using bitcoin except in the legal industry. so in practice bitcoin still can replace fiat.

And this does not mean that Bitcoin will replace fiat.  This means Bitcoin being alternative currency far from the government control.  It needs a government's approval if a certain currency will be use as the main one to replace the current currency and I do not see being approved as that.

That's right.
Bitcoin is curently not supported by  any of the governments, it is not considered to be a legal tender and that's one of the reasons that bitcoin at his current state will never become a replacement to fiat.

I also think that Bitcoin will not be able to replace the national currency. He did not support the government. Bitcoin has always been and will always be an alternative currency.

[Natalim]

Actually you are right with your statement. Why complicate things when Fiat can handle all of the transactions done. With Bitcoin as a currency you will add up extra time in finding stores that accept, converting your fiat to Bitcoin, and also waiting time for the transaction to be confirmed. With Fiat everything can be an instant and hassle free.

you know, people are too stingy to pay for the fee although they do not have to pay the tax why using Bitcoin. Increasing the transaction fee will solve all the problems. If you do not want to wait, just increase it and you will satisfy with your decision. Segwit is also very useful. However, miners deny using this feature since they believe that Segwit will reduce the amount of fee they can have per transaction

There is nothing we can do with that, they are in control of the network and without them transactions will be very slow or would not be possible. For online transaction bitcoin already dominated it at least for our opinion as there are still plenty of people who has no idea about bitcoin yet. However, by this recent progress of bitcoin, it will give more popularity for the bitcoin as a whole as the price movement is very interesting and that would make them view bitcoin as a strong asset and a good investment as well.

[deisik]

Bitcoin has no such support as fiat currency, we are talking about trilions of dollars, while bitcoin is at bilions, its far away to get close even gold market. Bitcoin wont replace anything it can be used as store of value, like gold, but hasnt power to replace anything, some services may fail or loose costumers as WU but in the end this wont damage enought to make they close doors, bitcoin need to improve a lot till be able to replace anything if it will do that someday

It is not about crowding out fiat completely

In the sense when some government totally abandons their national currency in favor of Bitcoin (though we can't exclude such a possibility entirely in the future). It is more about taking place of fiat which mediates a certain part of trade turnover. And if we consider the question in this way, it is certainly possible and likely we are already there (though the use of Bitcoin as a means of exchange is still minuscule of course). In other words, it is a matter of degree, not of kind

[Bitcoin2009]

Someday I'm sure that fiat will replace bitcoin money, it is because of the influence of the global economy, when many people can receive bitcoin, surely it will beat the fiat money.

[Jannn]

Someday I'm sure that fiat will replace bitcoin money, it is because of the influence of the global economy, when many people can receive bitcoin, surely it will beat the fiat money.

I don't think so. Bitcoin cant replace any fiat currency we considered that some countries are banning and regulating Bitcoin.
Bitcoin is a alternative crypto currency that we can use in buying goods and we can exchange it to some fiat currency.

[Theb]

Someday I'm sure that fiat will replace bitcoin money, it is because of the influence of the global economy, when many people can receive bitcoin, surely it will beat the fiat money.

I don't think so. Bitcoin cant replace any fiat currency we considered that some countries are banning and regulating Bitcoin.
Bitcoin is a alternative crypto currency that we can use in buying goods and we can exchange it to some fiat currency.

I don't think that the world even in the near future will embrace the idea of cryptocurrency. Because in terms of practicality Fiat wins in all side, in world wide acceptance we can see that Fiat can be exchange for another foreign fiat currency, What I mean is it can be accepted legally. Not like Bitcoin in which you know is not legal on other parts of the world. Could you imagine that Bitcoin someday will be accepted by farmers, street vendors as a mode of payment? I think not because having fiat which is the most liquid asset is more important to them.

[n0ne]

Actually you are right with your statement. Why complicate things when Fiat can handle all of the transactions done. With Bitcoin as a currency you will add up extra time in finding stores that accept, converting your fiat to Bitcoin, and also waiting time for the transaction to be confirmed. With Fiat everything can be an instant and hassle free.

As quoted with fiat everything is hassle free and easy to use and have lots of availability than bitcoin. Bitcoin as an alternate have emerged to help a step ahead by its anonymous nature which helps escape taxation for what we've earned and what we've spend. We can justify the advantages of bitcoin over fiat but fiat won't get replaced by bitcoin.

[Victorycoin]

In the first place, Bitcoin was not designed to be a replacement for the fiat currencies, rather the idea behind it was to address the many anomalies surrounding government issued money and then pointing the way forward for the future of money. In the long run, fiat currencies are likely to get modified but replacement is simply not in the offing, because the governments would never support anything that robs or limit its power, which is one thing Bitcoin has the potential of doing.