Bitcoin can not replace fiat

[prass tyo]

true, may now not found the point of the ease in transactions for such payments using bitcoin, someday it will happen every transaction using bitcoin, because users still rare so it looks complicated, the difference is that we have become accustomed in the use bitcoin, everything will look simple at all.

[DD-Lex]

true, may now not found the point of the ease in transactions for such payments using bitcoin, someday it will happen every transaction using bitcoin, because users still rare so it looks complicated, the difference is that we have become accustomed in the use bitcoin, everything will look simple at all.

Fiat still very much kept in the currency market. The fact is that bitcoin has good advantages over Fiat, but it loses some characteristics. Therefore Fiat bitcoin and one output. This coexistence.

[SirPol85]

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.

Not at all, bitcoin has no comparison with fiat, and fiat don't need bitcoin, don't be think to wrong me, i want to tell, a huge number of the people don't accept the bitcoin instead of fiat. Because fiat currency too much strong and every country have their own national currency, So how could it possible that fiat replace into bitcoin? No one government will allow to replace their national fiat currency into bitcoin.

The national currency, especially economically very strong country has a fairly strong support and foundation. So for example the dollar or euro bitcoin will not even compete.

[Cherry Girl]

Right now it is not possible to compete with fast fiat transfers (e.g. card-to-card payments)

At least, on a consistent basis. But Bitcoin is very robust in this respect. There are ways which could be implemented to make transactions as fast as the network itself is (basically at speed of light plus communication devices delays), and that would beat the fastest fiat transfers hands down, which are still heavily centralized and require a few days for final settlements. Apart from that, with fiat transfers you don't know it either how long a transfer would take, e.g. international wire transfers may take up to a few days.

If you're purely focusing on IWT then it's obvious that they will fail to compete with Bitcoin, but that's not really the case with (yup, centralized) payment services that allow you to instantly transact with each other within their eco system. PayPal for example is doing quite a decent job in that regard. If you are looking to transact with your relatives or when you buy/sell something, where you use your PayPal balance as starting point, then it basically delivers you exactly everything you want (e.g. instant payments, security, etc).

So in the case of fiat currency is also a good chance to work in a digital format, even with different payment systems. Of course bitcoin is a masterpiece, but it is necessary to recognize the bad chances of winning.

[PancherBitCoin]

In my life, by far the greatest role is played by fiat, because all the daily needs of sway with them. The fact is that even if I had enough bitcoin, they spend is no where. Therefore, Fiat will still be a long time on the currency market.

[deisik]

Right now it is not possible to compete with fast fiat transfers (e.g. card-to-card payments)

At least, on a consistent basis. But Bitcoin is very robust in this respect. There are ways which could be implemented to make transactions as fast as the network itself is (basically at speed of light plus communication devices delays), and that would beat the fastest fiat transfers hands down, which are still heavily centralized and require a few days for final settlements. Apart from that, with fiat transfers you don't know it either how long a transfer would take, e.g. international wire transfers may take up to a few days.

If you're purely focusing on IWT then it's obvious that they will fail to compete with Bitcoin, but that's not really the case with (yup, centralized) payment services that allow you to instantly transact with each other within their eco system. PayPal for example is doing quite a decent job in that regard. If you are looking to transact with your relatives or when you buy/sell something, where you use your PayPal balance as starting point, then it basically delivers you exactly everything you want (e.g. instant payments, security, etc)

But I don't in any way challenge that

And which I specifically emphasized in the first sentence of my post that you quoted. On the other hand, I used PayPal a few times in the past to move the funds from my PayPal account to my bank account, and it did take over a day or two (I don't remember exactly but the transactions were not instant by any means). Basically, banks are using their client money for some time earning profits, i.e. they don't credit the account as soon as they receive the money. This is a well known issue (or feature, from a bank's point of view). But that's not my point. Even with card-to-card transfers (which I use pretty often), you are still not guaranteed to receive the money immediately. Sometimes the transfers are pretty close to instant, sometimes it may actually take hours (obviously, banks are withholding your money for their own purposes). With Bitcoin offchain transactions (e.g. via exchange codes aka vouchers), the coins are transferred momentarily since there is no third party interested in keeping your coins

[Gameroid]

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 just consider some problems in bitcoin such as the limit of the bitcoin network to validating a lot of the transaction in once time. It's not ready for that.

It is true, I agree with you.  I have my transaction still pending for confirmation and it is almost two days.  So how would this kind of service compete with fiat transfer?  At least in fiat transfer there is an indication and details how long it will take for the money to be transferred unlike in Bitcoin where a non techy guy can just wait until his transaction confirmed without knowing when it will confirm.

yes, I agree with you. My unacknowledged transaction was about two days. If this problem is not solved, it will be impossible to pay for everyday goods Bitcoins. We need to improve the technology

i am hopeful that this problem will be solved very soon. i think is not such a big issue that cannot be solve. and i think t minor mistake and issues are creating problems and that must be solve on priority basis.

[tracktorr]

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 just consider some problems in bitcoin such as the limit of the bitcoin network to validating a lot of the transaction in once time. It's not ready for that.

It is true, I agree with you.  I have my transaction still pending for confirmation and it is almost two days.  So how would this kind of service compete with fiat transfer?  At least in fiat transfer there is an indication and details how long it will take for the money to be transferred unlike in Bitcoin where a non techy guy can just wait until his transaction confirmed without knowing when it will confirm.

yes, I agree with you. My unacknowledged transaction was about two days. If this problem is not solved, it will be impossible to pay for everyday goods Bitcoins. We need to improve the technology

i am hopeful that this problem will be solved very soon. i think is not such a big issue that cannot be solve. and i think t minor mistake and issues are creating problems and that must be solve on priority basis.

You can make different conclusions from what we hear and read. But when it comes to the state and money, these two factors are connected very strongly. And as we know the country its currency very much support. And for even more international. So any crises Fiat survive.

[Avametra]

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 just consider some problems in bitcoin such as the limit of the bitcoin network to validating a lot of the transaction in once time. It's not ready for that.

It is true, I agree with you.  I have my transaction still pending for confirmation and it is almost two days.  So how would this kind of service compete with fiat transfer?  At least in fiat transfer there is an indication and details how long it will take for the money to be transferred unlike in Bitcoin where a non techy guy can just wait until his transaction confirmed without knowing when it will confirm.

yes, I agree with you. My unacknowledged transaction was about two days. If this problem is not solved, it will be impossible to pay for everyday goods Bitcoins. We need to improve the technology

i am hopeful that this problem will be solved very soon. i think is not such a big issue that cannot be solve. and i think t minor mistake and issues are creating problems and that must be solve on priority basis.

You can make different conclusions from what we hear and read. But when it comes to the state and money, these two factors are connected very strongly. And as we know the country its currency very much support. And for even more international. So any crises Fiat survive.

Yes, you are right, fiat currency is always supported by the government. And, too, is controlled by the government. Cryptocurrency it based only on supply and therefore such unstable. Due to the fact that Bitcoin can not be controlled, it will never become the national currency

[berserkinterbuy]

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 just consider some problems in bitcoin such as the limit of the bitcoin network to validating a lot of the transaction in once time. It's not ready for that.

It is true, I agree with you.  I have my transaction still pending for confirmation and it is almost two days.  So how would this kind of service compete with fiat transfer?  At least in fiat transfer there is an indication and details how long it will take for the money to be transferred unlike in Bitcoin where a non techy guy can just wait until his transaction confirmed without knowing when it will confirm.

yes, I agree with you. My unacknowledged transaction was about two days. If this problem is not solved, it will be impossible to pay for everyday goods Bitcoins. We need to improve the technology

i am hopeful that this problem will be solved very soon. i think is not such a big issue that cannot be solve. and i think t minor mistake and issues are creating problems and that must be solve on priority basis.

You can make different conclusions from what we hear and read. But when it comes to the state and money, these two factors are connected very strongly. And as we know the country its currency very much support. And for even more international. So any crises Fiat survive.

Yes, you are right, fiat currency is always supported by the government. And, too, is controlled by the government. Cryptocurrency it based only on supply and therefore such unstable. Due to the fact that Bitcoin can not be controlled, it will never become the national currency

But because of the fact that other users due to their balance sheets are trying to influence the bitcoin exchange rate and this is reflected in the income of other members. Bitcoin does not have that stability, and Fiat. Let Fiat and controlled, but it is not so critical.

[Fanpant]

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 just consider some problems in bitcoin such as the limit of the bitcoin network to validating a lot of the transaction in once time. It's not ready for that.

It is true, I agree with you.  I have my transaction still pending for confirmation and it is almost two days.  So how would this kind of service compete with fiat transfer?  At least in fiat transfer there is an indication and details how long it will take for the money to be transferred unlike in Bitcoin where a non techy guy can just wait until his transaction confirmed without knowing when it will confirm.

yes, I agree with you. My unacknowledged transaction was about two days. If this problem is not solved, it will be impossible to pay for everyday goods Bitcoins. We need to improve the technology

i am hopeful that this problem will be solved very soon. i think is not such a big issue that cannot be solve. and i think t minor mistake and issues are creating problems and that must be solve on priority basis.

I hope the block size can be increased soon. So that we can have more transactions and more users.

[Macai]

In my opinion, bitcoin will never replace fiat, cause you can only have bitcoin through inernets an electronic wallets, many people doesnt afford having gadgets how much more of a bitcoin and besides eerything are atill bought with fiat money.. Just saying.....

[Cherylstar86]

Bitcoin is an optional type of income source but it doesn't change the way on how we look unto fiat money currency. Eventhough btc has a lot of advantages compared to fiat money cash, it doesn't mean we will replace fiat with bitcoin. It could only be a source of fiat money because it's kind of sustainable profit source but it has a big difference with regards on how people would adopt it in the economy.

[Viscore]

Bitcoin is an optional type of income source but it doesn't change the way on how we look unto fiat money currency. Eventhough btc has a lot of advantages compared to fiat money cash, it doesn't mean we will replace fiat with bitcoin. It could only be a source of fiat money because it's kind of sustainable profit source but it has a big difference with regards on how people would adopt it in the economy.

Fiat is more useful for me if you will compare the two, the reason behind is very simple because all people in the world and currently using fiat.
This two is better if they will co exist so it will give convenience to the users using different currencies, for online bitcoin is good since it's fast and cheap in terms of transaction fee but we are sure that fiat will take care most of the spending activities in our daily life.

[Ipwich]

In my opinion, bitcoin will never replace fiat, cause you can only have bitcoin through inernets an electronic wallets, many people doesnt afford having gadgets how much more of a bitcoin and besides eerything are atill bought with fiat money.. Just saying.....

The only way to replace fiat is when you replace the government, and making it realize is almost impossible as government has all the power to control this world and we are just abiding with the law. Fiat is universally use due to its simpleness and trust of the people, bitcoin is new in the minds of the people and government are not fully supportive with this technology so that hindrance is big to prevent bitcoin from replacing fiat.

[suredoood]

While I do agree for other reasons, the problem you state can be solved by being paid with bitcoin. Some employers (notably, police) do have the option to pay wages in bitcoin. Though these are very few they are still there.

[Japinat]

While I do agree for other reasons, the problem you state can be solved by being paid with bitcoin. Some employers (notably, police) do have the option to pay wages in bitcoin. Though these are very few they are still there.

Not necessarily that all employees will adopt with bitcoin that is not relevant if they are not interested on bitcoin. Most just like to directly receive their paycheck and spend right away, bitcoin will not give them convenience because they are not into it unlike us who considers bitcoin already as part of our life. In the future when bitcoin will be majorly adopted, investors, traders, gamblers, and shoppers online will most likely be benefited.

[Lecam]

Far happen that bitcoin has replaced the fiat. Because we use fiat money to buy what we need in life. And also we used to buy bitcoin. So difficult to replace the fiat of any kind of currency. The fiat is a stable currency that can never be replaced.

[qiwoman]

Far happen that bitcoin has replaced the fiat. Because we use fiat money to buy what we need in life. And also we used to buy bitcoin. So difficult to replace the fiat of any kind of currency. The fiat is a stable currency that can never be replaced.

Yes bitcoin will never replace fiat currency but bitcoin can act as the best alternative for these fiat currency or else if any country is split or their economy is totally collapsed and the new rulers are smart enough then they might use bitcoin as new local currency.

[webtricks]

Comparing Bitcoin to fait and use it as currency will again throw back the economy to ancient time when commodity or metal was used as currency and there was no regulated system.
Fiat money represents modernisation and development of human, using Bitcoin will be like wearing the cloth of ignorance!! Delibrately!!