Bitcoin can not replace fiat

[traderethereum]

I agree with you. In fact, only a small percentage of the world's population knows about the cryptocurrency. Therefore, the crypto currency will not soon catch up with the popularity of Fiat. And hardly ever replace the Fiat

It is not really able to make it, that is the fact with bitcoin. And bitcoin will always be treated as an investment by most of the people, though many of us are already using it as an online currency. But there would be one day that the fiat will be upgraded into something that has the same idea with bitcoin and other crypto's.

Yes, bitcoins are now considered by many people as investments. This is due to the fact that the price of bitcoin is growing. In the long term, it can grow several times.
Few people use bitcoins to buy everyday products

Actually as of now in most of the countries, we can't buy any everyday products using bitcoins directly because they are not so popular in mainstream business yet. Bitcoins are more popular in the gambling industry. But for investment purpose, it is quite good because of its high price fluctuations we can make some profits regularly.

Fiat has been fully involved in our daily lives and it will take a lot of time to completely eliminate it and start using bitcoins. Bitcoins has started replacing credits  cards which were being used online.

We can not used bitcoin for our daily lives this is only digital currency and not all people can access bitcoin that is why it is impossible to replace fiat by bitcoin and fiat is much needed by all people for daily. The only advantage of bitcoin is the value it has big value that our fiat and also we can earn in bitcoin itself.

Yeah the usage and users of fiat are more in compare to bitcoins and spending fiat is easy in compare to spending bitcoins and even in future most of the people will prefer to use bitcoin only for online transactions and for offline they will prefer fiat.

It does not depend on people. Many people agree to buy food for bitcoins. But they do not have such an opportunity. Stores do not sell goods for bitcoins. I hope that in the future I can buy anything for bitcoin. And then I will definitely forget about Fiat

That's right and even now people prefer to use credit cards for shopping as they don't want to carry hard cash in their wallet and once people will start knowing bitcoins they will follow the same and will start buying goods with bitcoins.

i think we can see this in future after bitcoin is accepting in many places and there are offline store that accepting bitcoin as payment. i think in future, credit card will not use again as bitcoin is more easy to use than credit card and bitcoin is not only have the card but we can save it in our android phone.

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[Bitcotalk]

I agree with you. In fact, only a small percentage of the world's population knows about the cryptocurrency. Therefore, the crypto currency will not soon catch up with the popularity of Fiat. And hardly ever replace the Fiat

It is not really able to make it, that is the fact with bitcoin. And bitcoin will always be treated as an investment by most of the people, though many of us are already using it as an online currency. But there would be one day that the fiat will be upgraded into something that has the same idea with bitcoin and other crypto's.

Yes, bitcoins are now considered by many people as investments. This is due to the fact that the price of bitcoin is growing. In the long term, it can grow several times.
Few people use bitcoins to buy everyday products

Actually as of now in most of the countries, we can't buy any everyday products using bitcoins directly because they are not so popular in mainstream business yet. Bitcoins are more popular in the gambling industry. But for investment purpose, it is quite good because of its high price fluctuations we can make some profits regularly.

Fiat has been fully involved in our daily lives and it will take a lot of time to completely eliminate it and start using bitcoins. Bitcoins has started replacing credits  cards which were being used online.

And paypal is also going to be replaced by bitcoin it seems like in the coming few future paypal will feel like they do not have any need by the community and will end up or they will also adopt bitcoin like they will also start their bitcoin wallet.

[DoublerHunter]

I agree with you. In fact, only a small percentage of the world's population knows about the cryptocurrency. Therefore, the crypto currency will not soon catch up with the popularity of Fiat. And hardly ever replace the Fiat

It is not really able to make it, that is the fact with bitcoin. And bitcoin will always be treated as an investment by most of the people, though many of us are already using it as an online currency. But there would be one day that the fiat will be upgraded into something that has the same idea with bitcoin and other crypto's.

Yes, bitcoins are now considered by many people as investments. This is due to the fact that the price of bitcoin is growing. In the long term, it can grow several times.
Few people use bitcoins to buy everyday products

Actually as of now in most of the countries, we can't buy any everyday products using bitcoins directly because they are not so popular in mainstream business yet. Bitcoins are more popular in the gambling industry. But for investment purpose, it is quite good because of its high price fluctuations we can make some profits regularly.

Fiat has been fully involved in our daily lives and it will take a lot of time to completely eliminate it and start using bitcoins. Bitcoins has started replacing credits  cards which were being used online.

And paypal is also going to be replaced by bitcoin it seems like in the coming few future paypal will feel like they do not have any need by the community and will end up or they will also adopt bitcoin like they will also start their bitcoin wallet.

I think that is possible but it nearly impossible because if paypal will replace by the bitcoin then if they will start their own bitcoin wallet then the name of their company will be changed their old users might be confused, and we need to remember that the fees in paypal are not increasing or having inflation like what is happening in bitcoin now.

[grandy]

I agree with you. In fact, only a small percentage of the world's population knows about the cryptocurrency. Therefore, the crypto currency will not soon catch up with the popularity of Fiat. And hardly ever replace the Fiat

It is not really able to make it, that is the fact with bitcoin. And bitcoin will always be treated as an investment by most of the people, though many of us are already using it as an online currency. But there would be one day that the fiat will be upgraded into something that has the same idea with bitcoin and other crypto's.

Yes, bitcoins are now considered by many people as investments. This is due to the fact that the price of bitcoin is growing. In the long term, it can grow several times.
Few people use bitcoins to buy everyday products

Actually as of now in most of the countries, we can't buy any everyday products using bitcoins directly because they are not so popular in mainstream business yet. Bitcoins are more popular in the gambling industry. But for investment purpose, it is quite good because of its high price fluctuations we can make some profits regularly.

Fiat has been fully involved in our daily lives and it will take a lot of time to completely eliminate it and start using bitcoins. Bitcoins has started replacing credits  cards which were being used online.

We can not used bitcoin for our daily lives this is only digital currency and not all people can access bitcoin that is why it is impossible to replace fiat by bitcoin and fiat is much needed by all people for daily. The only advantage of bitcoin is the value it has big value that our fiat and also we can earn in bitcoin itself.

Yeah the usage and users of fiat are more in compare to bitcoins and spending fiat is easy in compare to spending bitcoins and even in future most of the people will prefer to use bitcoin only for online transactions and for offline they will prefer fiat.

It does not depend on people. Many people agree to buy food for bitcoins. But they do not have such an opportunity. Stores do not sell goods for bitcoins. I hope that in the future I can buy anything for bitcoin. And then I will definitely forget about Fiat

That's right and even now people prefer to use credit cards for shopping as they don't want to carry hard cash in their wallet and once people will start knowing bitcoins they will follow the same and will start buying goods with bitcoins.

i think we can see this in future after bitcoin is accepting in many places and there are offline store that accepting bitcoin as payment. i think in future, credit card will not use again as bitcoin is more easy to use than credit card and bitcoin is not only have the card but we can save it in our android phone.

but i think the number of such shops are present in very limited areas. but i am hopeful that when the number of bitcoin users will increase more and more, then we will be able to use bitcoin in our local shops also.

[stergium]

I agree with you. In fact, only a small percentage of the world's population knows about the cryptocurrency. Therefore, the crypto currency will not soon catch up with the popularity of Fiat. And hardly ever replace the Fiat

It is not really able to make it, that is the fact with bitcoin. And bitcoin will always be treated as an investment by most of the people, though many of us are already using it as an online currency. But there would be one day that the fiat will be upgraded into something that has the same idea with bitcoin and other crypto's.

Yes, bitcoins are now considered by many people as investments. This is due to the fact that the price of bitcoin is growing. In the long term, it can grow several times.
Few people use bitcoins to buy everyday products

Actually as of now in most of the countries, we can't buy any everyday products using bitcoins directly because they are not so popular in mainstream business yet. Bitcoins are more popular in the gambling industry. But for investment purpose, it is quite good because of its high price fluctuations we can make some profits regularly.

Fiat has been fully involved in our daily lives and it will take a lot of time to completely eliminate it and start using bitcoins. Bitcoins has started replacing credits  cards which were being used online.

And paypal is also going to be replaced by bitcoin it seems like in the coming few future paypal will feel like they do not have any need by the community and will end up or they will also adopt bitcoin like they will also start their bitcoin wallet.

actually the use of paypal is limited in limited area and bitcoin is present everywhere, as you can see the users of bitcoin everywhere in the world. that is why bitcoin replace payal.

[aardvark15]

I think both Bitcoin and PayPal can exist at the same time. They can serve different purposes and overlap in their uses. Bitcoin of course can be used for more things like as an investment.

[zimmah]

Cryptocurrency can and most likely will replace fiat, but it's not certain if that crypto will be bitcoin

it can be bitcoin, but only if we solve this scaling debate quickly before altcoins eat away all of the market share.

[wck]

Cryptocurrency can and most likely will replace fiat, but it's not certain if that crypto will be bitcoin

it can be bitcoin, but only if we solve this scaling debate quickly before altcoins eat away all of the market share.

Even several years ago, transactions often took hours to confirm, sometimes days if the transaction fee was left off.   I think that if any crypo-currency is really going to replace cash, the transaction speed needs improvement.

[Yatsan]

Bitcoin is just a digital currency and to access with it you need a gadget and internet, so not all people have that requirements but in the fiat you just need to have a fiat itself to use it, So bitcoin can not replace fiat because of that, because some people cannot use bitcoin because of its requirement.

[wck]

Bitcoin is just a digital currency and to access with it you need a gadget and internet, so not all people have that requirements but in the fiat you just need to have a fiat itself to use it, So bitcoin can not replace fiat because of that, because some people cannot use bitcoin because of its requirement.

Actually that isn't really true ... with cash you still need something to carry it in.  Pretty hard to live while holding all your cash in your hand.   So you need some gadget like a pocket, or wallet or purse or ...  Then there is the virtual cash, the point cards the debit cards and credit cards.   There all also bank vaults, ATM network and ATM machines.   Then there are the vast hordes of cash resisters, coin boxes, safes, armored trucks and armies of guards and police.   

Maybe cyber-currently isn't that complex.

[STT]

We can not used bitcoin for our daily lives this is only digital currency and not all people can access bitcoin that is why it is impossible to replace fiat by bitcoin and fiat is much needed by all people for daily.

The main currency used world wide is also a digital currency, which is dollars.   The vast majority of wealth and of value exchanged is done digitally by dollars.   When banks send value between branches its mostly not done with paper in a secure van with guards, considering all the business that goes on we dont see that many of those.
The paper part of dollar is not that far from the paper wallet you can have with bitcoin.  Obviously bitcoin has its crypto security and dollar is just force and legally enforced but if we are talking digital then yep you are living in a world full of national digital currencies.

Happened a while ago.  The US government would go broke if most value was in cotton notes, they cost more to produce and handle then the worth printed on the front.  The cotton notes are just a way to send money to US farmers now, its a side show.    All the big value is handled like QE is produced, it centres around government money and regulation.    One day we will find out why its not a great idea to have the whole world held up by one central point of failure, finance or anything really.

Bitcoin alone cant replace FIAT but of course it wont ever do that.  Its one of a rainbow of alternatives to the one national currency used globally, remenant of failed Bretton woods agreement (that Keynes guy was present, that you always hear about) which dates back to WW2 now.  Many things have changed since then and so will this also.
   We'll just see green split into a prism of different colours, it was never going to be just a direct replacement one to the other.  Hopefully crypto currency will prove worthy when the time comes and become more popular and reliable in use.

[andrew24p]

I agree it wont replace fiat, basing an economy on a deflationary asset is a terrible idea for lending and borrowing. If bitcoin acts as strictly a transitory currency it would still add a massive amount of value.

[magneto]

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.

Thats true.

Bitcoin does not have instant clearing times like paper money, but doesn't mean it can't be used.

For example, a common way to mitigate potential double spends is to require the fee to be set above a certain level. And double spends are really rare by the average consumer anyways, especilaly wehn you are buying something face to face at such a small value.

[roadbits]

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.

You are right it is very complicated to buy a cup of coffee through Bitcoin. It will take time to confirm, and we also don't get time to wait and shop owner also not like this type of late payment method. But we can make this simple by using Bitcoin debit card. Yes, how we use other r cards like that we can swipe or tap our card, and the amount will deduct in the form of Bitcoin.

[DoublerHunter]

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.

You are right it is very complicated to buy a cup of coffee through Bitcoin. It will take time to confirm, and we also don't get time to wait and shop owner also not like this type of late payment method. But we can make this simple by using Bitcoin debit card. Yes, how we use other r cards like that we can swipe or tap our card, and the amount will deduct in the form of Bitcoin.

How can you tell that buying a cup of coffee is complicated? You didn't know the blockchain wallet? For your information, blockchain wallet is one of the fastest wallet receiver for bitcoin because when you transfer your bitcoins from another site to your online blockchain wallet, it already reflects in the wallet as soon as it shows the record in the blockchain so i don't think that paying stuffs via bitcoin will be complicated.

[Xenophoto]

And paypal is also going to be replaced by bitcoin it seems like in the coming few future paypal will feel like they do not have any need by the community and will end up or they will also adopt bitcoin like they will also start their bitcoin wallet.

Maybe, maybe not? What is the point of a bitcoin user using Paypal if he's going to use bitcoins anyway? Plus, surely Paypal will put tremendous transaction fee on that as well when you could have used your own bitcoin wallet and avoided huge transaction fee.

I really doubt that will happen because a lot of online merchants especially the legit and automated ones accept Paypal. Even though some people are using bitcoins, most of us are still using Paypal just because it's accepted in an online shop and bitcoin is not.

Bitcoin might replace Paypal but only by the time bitcoin goes mainstream. Otherwise, Paypal will continue to be the King.

[asriloni]

I agree with you. In fact, only a small percentage of the world's population knows about the cryptocurrency. Therefore, the crypto currency will not soon catch up with the popularity of Fiat. And hardly ever replace the Fiat

It is not really able to make it, that is the fact with bitcoin. And bitcoin will always be treated as an investment by most of the people, though many of us are already using it as an online currency. But there would be one day that the fiat will be upgraded into something that has the same idea with bitcoin and other crypto's.

Yes, bitcoins are now considered by many people as investments. This is due to the fact that the price of bitcoin is growing. In the long term, it can grow several times.
Few people use bitcoins to buy everyday products

Actually as of now in most of the countries, we can't buy any everyday products using bitcoins directly because they are not so popular in mainstream business yet. Bitcoins are more popular in the gambling industry. But for investment purpose, it is quite good because of its high price fluctuations we can make some profits regularly.

Fiat has been fully involved in our daily lives and it will take a lot of time to completely eliminate it and start using bitcoins. Bitcoins has started replacing credits  cards which were being used online.

We can not used bitcoin for our daily lives this is only digital currency and not all people can access bitcoin that is why it is impossible to replace fiat by bitcoin and fiat is much needed by all people for daily. The only advantage of bitcoin is the value it has big value that our fiat and also we can earn in bitcoin itself.

Yeah the usage and users of fiat are more in compare to bitcoins and spending fiat is easy in compare to spending bitcoins and even in future most of the people will prefer to use bitcoin only for online transactions and for offline they will prefer fiat.

It does not depend on people. Many people agree to buy food for bitcoins. But they do not have such an opportunity. Stores do not sell goods for bitcoins. I hope that in the future I can buy anything for bitcoin. And then I will definitely forget about Fiat

Buy food for bitcoin? What do you mean? If the bitcoin is officially accepted by the government and a lot of the stores will be accept it, Because the bitcoin still not get permission by the govement

[doaremon]

Its not important for bitcoin to replace. we can easily exchange them with fiat and use for daily purpose. Bitcoin's value changes from day to day. It can't be controlled by any regulations or authorities. And manipulation is easier. So I totally agree with you in this case

[manselr]

It's not clear to me how bitcoin replace fiat. Bitcoin is a gold alternative, not really a fiat alternative. In order for Bitcoin to replace fiat, it would need to activate segwit first in order to profit from Lightning Networks in its full capacity.

As of today, segwit doesn't seem possible in bitcoin, but it does in Litecoin. Maybe Litecoin will replace fiat, and Bitcoin will replace gold.

[Fatanut]

It's not clear to me how bitcoin replace fiat. Bitcoin is a gold alternative, not really a fiat alternative. In order for Bitcoin to replace fiat, it would need to activate segwit first in order to profit from Lightning Networks in its full capacity.

As of today, segwit doesn't seem possible in bitcoin, but it does in Litecoin. Maybe Litecoin will replace fiat, and Bitcoin will replace gold.

Gold is precious because of its physical appearance. Unless you're talking about digital gold, I don't see any reason as to why it will be replaced by bitcoin. Gold is used in the technology world. Gold is used as well for luxuries. Bitcoin cannot do those things.

I wonder why Litecoin (or any coin for that matter) hasn't replace bitcoin yet. Even Eth hasn't replaced bitcoin yet. Bitcoin is just too strong right now to get replaced by another coin. BCU didn't even do enough damage to bitcoin. It did a good intro though. But now the coin as well as the Hard fork drama is gone.

Lightning transaction really is a necessity for bitcoin to take over. But we are not at the point yet whereas we need it a lot. Today, the transactions are still almost an instant.

(Plz don't give me the "bitcoin transactions takes too much time to get confirmed" comment because the answer will be "put some transaction fee")