Bitcoin can not replace fiat

[tn211]

Fiat and bitcoin are here to be together and complement each other.
I don't see the one working without the other.

fiat for physical transactions
bitcoin for online transactions

[x13]

I agree! Bitcoin is like Gold, it is usually deflationary and is more value storage. But, inflationary colored coins based on the Bitcoin blockchain could be a replacement fiat money.

[greBit]

Fiat and bitcoin are here to be together and complement each other.
I don't see the one working without the other.

fiat for physical transactions
bitcoin for online transactions

Very well described yes both works together but the difference is value Bitcoin increases more rapidly than the value of fiat, but Bitcoin cannot replace fiat until the entire people lose their faith in fiat paper

[BTCBinary]

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.

It is getting easier and easier to acquire bitcoins, and sooner or later everyone will have easy access to it.  I guess you are not seeing things how they really are! Today, many people already receive part of their payroll in BTC, so the currency is actually starting to flow and that's what's needed for it to take of.

[takingthis4]

it can replace it if a lot of people will be interested in it

[nerFohanzo]

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.

Yeah bitcoins never replace fiat in the future as the market cap and the customer base of fiat is much more wider as compared to bitcoins and people have more faith in fiat and there are some countries where no one accepts bitcoins as a mode of payment and the reason is that the people are not aware about the bitcoins as fiat is traditional and is widely accepted everywhere.

[Erkallys]

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.

If ATM or Bitcoin stores pop up around the world, people could acquire it in an easier way, and thus mass adoption problem could be solved. Also, with the fear growing up against traditional banking around the world, there will always have buyers.

[Altynbekova]

Bitcoin is not here to replace fiat, but it could replace fiat on the long term maybe.
Maybe since everything online and electronic can go down because of system failure.

[bit1]

The more instruments to buy and sell the best so no one can have absolute control over everything so too must remain fiat, But perhaps adding a more effective value to fiat could be a good idea and not only print it on paper.

[jaysabi]

If I could open a pharmacy that accepts only bitcoin and put it right next to a grocery store that only accepts bitcoin, I'd be well on my way to replacing fiat with bitcoin.  I do not see this happening in my lifetime.  But it is a nice thought.  Bitcoin has so much potential to blur political boundaries.

If you ran a business with a physical storefront, you could of course accept bitcoin, but you'd be a fool to make it a bitcoin-only establishment. The point of business is to make money, and you'd be closing yourself off to many more people by refusing fiat than you would attract by accepting bitcoin.

[Newcoins2020]

Bitcoin is not here to replace fiat, but it could replace fiat on the long term maybe.
Maybe since everything online and electronic can go down because of system failure.

Exactly this.
You need fiat for every circumstance where there is no internet/electricity.

Where there are no more computers working fiat will come and will be used.

[tolikkk]

replacement just time although not long, but in talking about evolution which can not be only easy , but also other qualities that require careful verification, the need for more than one year, although this direction show , but not in need of replacement, but not a race for something as dubious illusory

[Cyaren]

Bitcoin can't replace fiat, but fiat will still be replaced.

[HeroCat]

Well - BTC can not replace fiat, but it can be as nice payment option. With time many people will understand that, especially when banks will start to use it 

[suda123]

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.

yea but were going into a cashless society, the people who will use paper money are the people who are going to use foodbanks :^)

Banks are closing down everywhere and switching to mobile

[Denker]

Well - BTC can not replace fiat, but it can be as nice payment option. With time many people will understand that, especially when banks will start to use it 

Bitcoin doesn't have to replace fiat.That was never the plan.
Bitcoin is offering an additional option.That is the nice thing. You can choose!
Bitcoin is already more stable than ~30 fiat currencies on this planet! I mean this is something!
Look what is happening to the ruble at the moment!

[smith coins]

Bitcoin does not have power to completely replace fiat at least for many years,
But it can be in some zones when bitcoin can be very popular and useful.

[shido]

Fiat is to deeply embedded in current society an can't be easily dislodged.
Bitcoin is offering way of exchanging value that is not under elites control.
Will it replace fiat? Not in the near future, not unless fiat collapses under it's own weight..   

[avw1982]

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.

Even claimed that an alternative currency would be an integral part of a global financial revolution.then Should forex traders be worried about bitcoin replacing traditional fiat currencies This raises the very important issue of funding, particularly for startup companies, as gaining regulatory approval could be a costly and time-consuming process.then Its possible to replace fiat soon

[wikenpp]

I don't want bitcoin or any online payment system to replace fiat.
Fiat payments are great and shouldn't be replaced.

But let's be honest too, there is no payment system that can replace fiat. For this the role of fiat payments are way to important.