Bitcoin can not replace fiat

[explosion]

I guess it's a question of mass adoption. For now, in most countries bitcoin is viewed as an asset, not a cryptocurrency, so it can't replace fiat. But solutions are already being developed to ensure the possibility of easy cryptocurrency payments, for example the FuzeX ecosystem. As far as I understand, they will release a card, and you will just use it like a conventional credit or debit card. Mass adoption thanks to such solutions will be the first step for replacing fiat, which, I'm sure, will not happen in the nearest 50 years.

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[nthnode404]

The problem is that fiat has a limited life span. Something else will replace it in the future, it's only a matter of time. Look at history and what happens when there is hyperinflation. It does not end well. The right cryptocurrency can be used all over the world in the future it seems.

[JollySkipper]

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.

The problem with bitcoin is that became centralized, very manipulated by miners and whales and its price is also affected by media.
Bitcoin lighting network can solve the speed of the network but this will come at the price of more centralization that makes btc even worse.
The worse problem with BTC is its PoW which soon or later will make it unprofitable and useless.

[Godric-Gryffindor]

In terms of daily use cash is far greater than bitcoin, because Bitcoin transaction time and cost is weird and if you have a business or just a regular costumer you have to deal with this problem but in time for sure you gonna ask yourself if it is worthy to use ot accept Bitcoin as a means of payment, hopefully Bitcoin dev fix this as soon as possible

[_Legendary_]

Yes of course, bitcoin is not a currency intended to replace fiat, bitcoin is used for transactions and investments, if someday bitcoin can last up to 100 years, it will never replace fiat.

[SparrowMano]

Why replace it when they can clearly coexist? in a world where the consumer has a choice, why not?

[rodelhomecillo]

Why replace it when they can clearly coexist? in a world where the consumer has a choice, why not?

Yes, I think bitcoin valuable is depending on fiat too. It likes how much a bitcoin valuable in USD. So fiats would be the scale of Bitcoin's valuable .

[Sir Paijoe]

Yes true, bitcoin will never replace fiat because the state protects fiat, while bitcoin is a global commodity that uses a highly volatile decentralization system.

[tophe15]

Yes it can't but it can compete with fiat currency That's why some countries are banning it I think due to it's value higher that theirs? But my point is that it can live beside our current fiat currency and both can work properly if used at the right way.

[ICOPass]

Exactly. Not yet.

[Lubang Bawah]

Yes true, bitcoin will never replace fiat, this is because the state protects fiat like protecting other state assets, it is strange if we think that bitcoin replaces fiat while many things become bitcoin big job eg problem of the transaction speed.

[Blockman21]

Bitcoin is an electronic currency that is only works with an internet connection, so bitcoin cannot replace fiat or cash.

[SergeYak]

At first, why should bitcoin replace fiat? I'm actually can't get it Till we using bitcoin we're not paying any taxes to our governments and if bitcoin will replace fiat we will get taxes back. lol 

[sayulita]

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.

The problem with bitcoin is that became centralized, very manipulated by miners and whales and its price is also affected by media.
Bitcoin lighting network can solve the speed of the network but this will come at the price of more centralization that makes btc even worse.
The worse problem with BTC is its PoW which soon or later will make it unprofitable and useless.

Yes it is true that bitcoin cannot replace fiat currency as fiat is used by whole of the world.It is internationally accepted and all the transactions are done through fiat only.Fiat can be used anywhere and anytime unlike bitcoin which requires internet connection to operate it.Since it is decentralised,it is not legalised in many nations too.It is also very volatile and risky unlike fiat currency.

[RajaJudi]

Yes true, bitcoin will never replace fiat, this is because the state protects fiat like protecting other state assets, it is strange if we think that bitcoin replaces fiat while many things become bitcoin big job eg problem of the transaction speed.

We have used fiat money for million years. Many people in the world like using fiat money than pay online. Normally, only the rich want to use their card to pay online and transact online. However, the others still use fiat money in daily life. We can deny that these days is days of technology and digital currency but it still the way that we use to earn fiat money.

[STT]

Some people accuse Bitcoin of being FIAT, not based on a solid value and able to be duplicated in 'fork' chains.     Its all a point of view however more factual is that the major FIAT currencies will certainly fail.

Yen has great problems, a 17 year long QE program that cannot be unwound without massive losses or defaults.    Dollar is unbalanced in its trade, propped up by sales of US treasury bonds the exchange rate would fall horribly with tens of trillions stored in debt .     The oil revival and new exports of natural gas have helped USA some but it is seriously lacking overall in balance.   
The QE of USA will also end badly, the average term is 4 years only which means it can unwind involuntarily forcing massive cuts in government spending to bring in a surplus rather then the decades long deficit.

An enemy in retreat is always at its weakest and since global trade is a competitive battleground with countries fighting for most value I do expect an unfortunate decline to happen to the largest FIAT currency right now.
MY point is that to make a statement consider both sides, Bitcoin must replace FIAT at least partially as FIAT is rotting from the inside out.     Those who are able to prepare the crypto blockchains to take the load will gain the most in the burden of trade that must be carried as the world reserve currency gives way.

It cannot be ignored, something must take over from Dollar.   This is a decades long story and crypto is late to that story and only one small part of it.

[BTCbengi]

That's right, that's in the near future. Bitcoin can not replace fiat because we still need cash in our present life. Bitcoin helps us make money but fiat is the new thing that we can use to make money from Bitcoin. Because very few countries allow us to pay by Bitcoin, that is illegal and not popular.

[lapesca]

No i think this will not happen in the future so far. It would be more than a surprise..

[Cedie]

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.

The idea of bitcoin of course is to have it in the first place so if you encountered having a thirst for coffee then it would be easy. Everybody knows its not practical to buy bitcoin whenever you needed like having a cup of coffee. Of course you buy bitcoins, save them, then use it when you need them, not buy when you suddenly needed them. Yes, bitcoin can not replace fiat, but bitcoin patches the holes fiat leaves behind so it makes our world when it, comes to money, a better place.

[shalnark]

That's right, that's in the near future. Bitcoin can not replace fiat because we still need cash in our present life. Bitcoin helps us make money but fiat is the new thing that we can use to make money from Bitcoin. Because very few countries allow us to pay by Bitcoin, that is illegal and not popular.

Yes,in present time as most of the people have no idea about bitcon.Especially those people that never use social media,so many people are still there who have yet not hear the name of bitcoin so they have only one choice and that is the fiat currency. so we can replace it in present time or in present future it is impossible that bitocin will take the place of fiat currency. In additional some other country still not legalize the bitcoin so I dont think that btc replace the present money of one country.