Bitcoin can not replace fiat

[mastica]

Bitcoin werent made to replace any fiat, like gold bitcoin can be used as store of value, i do believe in the begining bitcoin purpose besides low fees were to allow remittances without a third person involved into the transaction, allowing people to send money to family without ridicolous taxes charged by the companies wich provide the service. Bitcoin is another currencie and payment processor, it wont take a long time till people start using bitcoin as well altcoins, being bitcoin the tool to exchange into any currencie.

[ilyadt]

I  also believing that bitcoins can by no means at any time substitute fiat currency evn if bitcoin will be the worlds currency.Simply because fiat is owned b govt and not the very same as bitcoin who is owned by prosperous peoples.But bitcoin can be in fiat forex line but can by no means ever substitute any fiat

[julius caesar]

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.

Yes thats true, and aince bitcoin was designed to be naturally volatile system whwn our money depreciated, loss may occur in return in our side since we cannot regain it but only if bitcoin raise again, so it will take time, but we cannot deny the fact that expenses dont stop and it chases us so how can we use bitcoin for our daily necessities? Bitcoin cannot replace fiat in the sense that it will not happen since governments will nevwr allow a decentralized currency rule over them.

[chickenado]

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.

Yes thats true, and aince bitcoin was designed to be naturally volatile system whwn our money depreciated, loss may occur in return in our side since we cannot regain it but only if bitcoin raise again, so it will take time, but we cannot deny the fact that expenses dont stop and it chases us so how can we use bitcoin for our daily necessities? Bitcoin cannot replace fiat in the sense that it will not happen since governments will nevwr allow a decentralized currency rule over them.

For now I guess it can't replace fiat money but in long run maybe it could because the prices are much higher than what we expect. Only then we have to admit that this won't ever change the fact that bitcoin is better than fiat money now that it gains a lot of trust from people who have been a member for quite some time now. This shows the gradual success it gets from bitcoin and how it develops its strategic convincing power wherein people can fully understand the cryptocurrency and a digitized money in a fast and convinient transaction.

[prass tyo]

I  also believing that bitcoins can by no means at any time substitute fiat currency evn if bitcoin will be the worlds currency.Simply because fiat is owned b govt and not the very same as bitcoin who is owned by prosperous peoples.But bitcoin can be in fiat forex line but can by no means ever substitute any fiat

bitcoin will not be able to replace the fiat position because bitcoin is not a money but bitcoin is as a means of payment, used by online users

[TheBTCAlex]

As a side asset, to keep along with fiat, bitcoin is definitely the best. However, at its current condition, it can, in no way, in the future, try to even remotely replace fiat. I mean, come on...bitcoin is extremely volatile, how can its popularity go beyond something that has been used for centuries traditionally, when people are not even trying to trust and use it.
Moreover, not many people are familiar with the concept and not educated enough to use it, and lack of adoption makes bitcoin's value unstable, and this cycle continues. Thus most governments aren't taking the risk to try and implement it mainstream, as if they use it as official currency, their economy's value might zero down in days along with bitcoin's if and when it falls.

[Trela]

I  also believing that bitcoins can by no means at any time substitute fiat currency evn if bitcoin will be the worlds currency.Simply because fiat is owned b govt and not the very same as bitcoin who is owned by prosperous peoples.But bitcoin can be in fiat forex line but can by no means ever substitute any fiat

bitcoin will not be able to replace the fiat position because bitcoin is not a money but bitcoin is as a means of payment, used by online users

This is the definition for Bitcoin in current. But what do you think about the future of Bitcoin? For me, I'm an investor for future. I had invested into Bitcoin a lot of money and I want to hold it for long term, maybe 10 years or more than. Therefore, investment still has many type, important what is your plan when you invest!?

[Gozie51]

As a side asset, to keep along with fiat, bitcoin is definitely the best. However, at its current condition, it can, in no way, in the future, try to even remotely replace fiat. I mean, come on...bitcoin is extremely volatile, how can its popularity go beyond something that has been used for centuries traditionally, when people are not even trying to trust and use it.
Moreover, not many people are familiar with the concept and not educated enough to use it, and lack of adoption makes bitcoin's value unstable, and this cycle continues. Thus most governments aren't taking the risk to try and implement it mainstream, as if they use it as official currency, their economy's value might zero down in days along with bitcoin's if and when it falls.

Well, the fact that fiat has been used traditionally and long enough is not even the issue for me because there is a general saying that the only thing that is constant is change. Therefore, a kind of change or policy can come up now that might change so many things including the use of fiat nor bitcoin. The issue for me is that bitcoin is controlled and before a government would throw itself fully and jettison the use of fiat, it must have a way of controlling nor checking the use of bitcoin and its activities otherwise, politicians would loot uncontrollable.

[julius caesar]

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.

I think you misunderstood the topic. Well for me thats definitely a fact that bitcoin cannot replace fiat ,first thing first because this is a volatile currency which will trick you on how are you going to do of it will dump at its lowest peak without any centainty or I mean any predicgion regarding this matter, I think bitcoin cannot replace fiat also because government wont let a decentralized currency be over the centralized it will hurt their ego, arent they? It may cause war I think

[borishaifa]

I would like to read this thread in 5 years, for example. I am sure it will bring me a lot of fun. I would try to keep the link, but, probably in vain. Links will be others too))) Why it would be funny for me? I am sure in five  - maximum ten years there will be no fiat at all. 30% have already lost their work)) And in future all bank workers rascals will get their basic income and dream about "good times"  

[Misshi]

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.

Yes, you are right about Bitcoin is an asset just like Gold. Today, we cannot consider Bitcoin as money rather it is a commodity just like Gold. But I do not agree that Bitcoin will never replace fiat in the future. We are in the world with genius people who are always a fun of innovation. And it is not impossible that in the near future, all things that we used to today will be replace by another routine/habit.

[Simone18]

Yup i do agree that bitcoin cannot really replace fiat since bitcoin is not applicable to everyone. Enable to use bitcoin you need to have the proper electronics and internet, there are people who cannot afford those things so they can't use bitcoin. Other  thing is the volatility of bitcoin.

[charlotte04]

Yes, But why can't we just accept the fact that Bitcoin and Fiat could work together as a team?

[cryptjh]

Bitcoins will not replace local’s fiat currencies, but locals fiat currencies will move to a digital version, where coins and notes will disappear.
This will just make bitcoins even stronger.

[deisik]

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.

I think you misunderstood the topic. Well for me thats definitely a fact that bitcoin cannot replace fiat ,first thing first because this is a volatile currency which will trick you on how are you going to do of it will dump at its lowest peak without any centainty or I mean any predicgion regarding this matter, I think bitcoin cannot replace fiat also because government wont let a decentralized currency be over the centralized it will hurt their ego, arent they? It may cause war I think

That remains to be seen

You are mostly right on a grand scale, especially in respect to solid currencies like the US dollars or Swiss francs. But they are certainly not the only pebble on the beach. There are quite a few weaker (and when I say weaker I mean really weak and frail) currencies which can only go down while Bitcoin as well as other cryptocurrencies are just volatile (I hope you understand the difference). The same pertains to governments, there are strong as well as stable ones and there are weak as well as bankrupt ones. Obviously, in the latter case, cryptocurrencies can very well take the place of a national currency if it eventually goes down the toilet, and no government will be able to do anything with that (since it typically goes down the toilet alongside its currency)

[faceoff97]

It think there is no need for a fiat to be replaced by bitcoin. Bitcoin and fiat can go along side with each other, they work well now as we can see. It will take a lot of adjustment once bitcoin replaced the fiat, fiat have been used for so many years and I think there are still many development for bitcoin  to reach the features of normal cash. Bitcoin sytem might happen and materialize in a rich country, where retail store and Private and public institutions should adopt on this kind of system. Fast Internet connection is a must once it is adopted.

[EdenHazard]

Bitcoins will not replace local’s fiat currencies, but locals fiat currencies will move to a digital version, where coins and notes will disappear.
This will just make bitcoins even stronger.

yes there is a lot of development on how e-money works in our daily lives , for example public transportation developed by government on several places have adopted to use e-money , it helps everything run easier rather than to use paper money.

as time goes by you will be able to use e-money / digital money anywhere , that time bitcoin will become mainstream and even more popular than the fiat digital version.

[saenko]

Bitcoin can not completely replace the ordinary currency, it can only reduce its use. The banking system will not allow the collapse of paper money.

[rockyfeller]

For me, right now bitcoin can not replace fiat. i agree with that!! but 2 decades from now (Worse Case Scenario) our community will use cashless or what we call peer to peer transaction so in the future Bitcoin will replace fiat and pretty sure at that age its a golden age, so early adopters will gonna be rich.

[suzanne5223]

I  also believing that bitcoins can by no means at any time substitute fiat currency evn if bitcoin will be the worlds currency.Simply because fiat is owned b govt and not the very same as bitcoin who is owned by prosperous peoples.But bitcoin can be in fiat forex line but can by no means ever substitute any fiat

bitcoin will not be able to replace the fiat position because bitcoin is not a money but bitcoin is as a means of payment, used by online users

Yes, bitcoin cannot replace fiat in some aspect because this is a vice versa situation but you guys misunderstanding it all. Meanwhile, fiat and bitcoin are both currency but when it come to investing and fixing financial aspect bitcoin does replace fiat which is why some banks are movement towards blockchain technology.