Bitcoin can not replace fiat

[TheNextChampion]

You're right for now I really doubt that BTC can replace fiat, even if BTC is doing really good lately, there are still tons of people, countries and government who are skeptical in using Bitcoin, even with every proof lay down on how good it is and potential it offers. Other thing is tons of countries are not ready for digital/bitcoin money era, not just technological but they're infrastructure as well, maybe in the future, but for now it can't be

Btc can not overtake fiat for the reason that there is not yet or not all country are using cryptocurrency. They are not believing that bitcoin is money. I think there are many process before btc can do this. Fiat is commonly used by several people and countries.

[jimn]

Bitcoin can not replace fiat currently because it is not yet used by the greatest part of population worldwide, it is still used by a small community, and most people use and trade with fiat currencies, so they cant leave this currencies for bitcoin easily.

[Criptolog90]

So far the supply isn't even enough to cover the whole world. So if they want to replace it they have to think how they can do. Also I don't think fiat will totally replaced by Bitcoin.

[xCryptoManiaX]

Of course it can't and never will. It will always be a good alternative tho.

[dmamigo]

Bitcoin can not replace fiat currently because it is not yet used by the greatest part of population worldwide, it is still used by a small community, and most people use and trade with fiat currencies, so they cant leave this currencies for bitcoin easily.

Apart form the low user base, replacing fiat comes not even closer until government supports and make BTC a legal tender. And none of the country would do so, they will just adapt and make it legal just like countries like Japan did.

[Tukang Becak]

Of course it can't and never will. It will always be a good alternative tho.

The unlikely thing for bitcoin to replace fiat money is because bitcoin can not be controlled by central bank, it is certainly very risky for the state to make bitcoin as the main currency because it can easily be mocked by speculators.

[Choyor]

I think that's true. Bitcoin is good for tradding and investment, while paper money is the price, so Bitcoin and fiat money can not be separated, there will always be complementary to each other. In conclusion, Bitcon can not replace fiat money. that's my opinion.

[nkarm1]

Yes, bitcoin can't replace dollar. Because, bitcoin has no physical form and no regulation from any government controls its circulation, so it doesnt meet the qualifications of act like dollar in real life.

Bitcoin is virtual yes, but having no physical form is not the main reason on why bitcoin can't be fiat. Remember that bitcoin is rooted in USD, and USD is rooted by precious metals and minerals. So they are just the same, bitcoin is a virtual coin that has no value at all until it was rooted by fiat. Same as fiat, fiat is just a paper print or minted coins that has has no real value, until it was rooted into rare Earth elements. Both has the same principles upon having value and price. Demands, supplies, reserves, influences, and more. So bitcoin can replace fiat in terms of market usages like buying, selling, saving, hoarding and more. The only thing that is quite impossible here is the bitcoin on being an official currency of a country because of many crazy rules, laws, and regulations must be applied that you can't really apply in bitcoin.

[Kasabus]

Of course it can't and never will. It will always be a good alternative tho.

That is correct, bitcoin is not as powerful as legal money so it will not replace fiat.
We need fiat to have bitcoin but in the end we need to convert it back to fiat, that's how the cycle goes because no one is saving their bitcoin
without a plan to covert it to fiat for profit.

[GeniusAko]

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.

Yeah It seems that you are right. Fiat currency is very strong and I think the bitcoin cannot replace the fiat currency. Bitcoin is also strong currency but the power of the bitcoin is not enough to replace the fiat currency.

[Nathland]

Bitcoins can not replace Fiat.  I am totally agree with it.  Because bitcoin is only limited to Internet it has no real existence.  Without Internet bitcoin can not  be worked. Fiat can be used by everyone but for using bitcoins one should have a knowledge of Internet and should know the working of it.  Fiat money is mostly acceptable form everyone is aware about it.  Where bitcoin is still limited to some people. Bitcoin has transformed the economy and introduce new ways of transaction but still it needs a lot more effort to reach to the reach of people.  

[akihiro101117]

bitcoin could not replace fiat "now" maybe few years later if the society is fully engage in cryptocurrencies if all businesses fully embrace bitcoin which is not hard to think. it reminds me of the article that ive read when disaster comes, digital assets are useless.

[musharaf]

In our society the position of bitcoin is good but the fiat money is also very important and which is not easily eliminated from the society. Bitcoin is equally important and used for many transaction for each and every country is not ready to accept this for this we will keep some fiat money to satisfy our needs.

[sheenshane]

In bitcoin society bitcoin is very good many people hunted btc everywhere by investing,collecting from faucets and also by working hard in signature campaign just to have bitcoin. Why? The purpose is exchange with the fiat which money then why you should replace it.
Much better both of them we don't need to choose,if you have it its very helpful to us when it comes financial problem.

[mr_enoc]

Yes, that is true! Bitcoin cannot replace fiat. We need the money everywhere bitcoin is a digital currency that will convert into cash.

[Fretcy]

Bitcoin is a peer to peer decentralized network of digital currency worldwide allowing complete power of finance over the user's hands, bitcoin is an asset and a digital currency which is backed by fiat currencies,so bitcoin and blockchain technology will not replace fiat currencies but this technology can definitely change the use of fiat currencies by adopting this technology. Everyone use fiat currencies one way or the other way, bitcoin transactions are done through online network whereas fiat currencies does not require technology to do transactions. Bitcoins are bought in the crypto market with exchange of fiat currencies.

[denny27]

Yeah.. it can't I guess, however superior of bitcoin and increasingly popular among many people, which's already able to provides many advantages and giving a profitable, already proven until nowadays bitcoin still can't replace fiat in some countries.. even maybe for the future I don't think bitcoin will replace the fiat. We know that fiat has been set and is very sturdy in all countries, it will not be possible to be replaced by digital currency easily, well maybe if there are plans from some governments who intend to replace fiat with bitcoin, of course there are still many considerations to considering it and I think the probability of occurrence is small possibility.

[Ipwich]

Yes, that is true! Bitcoin cannot replace fiat. We need the money everywhere bitcoin is a digital currency that will convert into cash.

Bitcoin can be big as an online payment system but it was not created to replace fiat, as long as there is law in this world and the government
is in charge of it then we should not expect it will happen. Be more positive with your investment than dream of the impossible things.

[GoodLuck2]

Of course not, and I hope it never does. I like that we have plenty of options to decide when it comes to paying for something, also, we cannot pretend everyone will accept Bitcoin, less use it for everyday transactions.

Once the bitcoin trend will get started and proper knowledge and awareness will come into the mind of common people then they will eagerly ask about bitcoin they will not accept the paper money because bitcoin is the most promising and profiting currency and those who are using it are now in good financial condition as compare to those who are working in offices and getting fixed amount of money at the end.

[ronafurw]

Of course not, and I hope it never does. I like that we have plenty of options to decide when it comes to paying for something, also, we cannot pretend everyone will accept Bitcoin, less use it for everyday transactions.

Once the bitcoin trend will get started and proper knowledge and awareness will come into the mind of common people then they will eagerly ask about bitcoin they will not accept the paper money because bitcoin is the most promising and profiting currency and those who are using it are now in good financial condition as compare to those who are working in offices and getting fixed amount of money at the end.

It is just the matter of time. Anything can happen and there are likely chances of this thing to happen not if today, then probably after sometime. This world is changing quite rapidly and the way people are showing their interest in bitcoin and other crypto currencies, I am very much positive that there will come a time when there will be no existence of paper money. Though this will take lot of time.