Bitcoin can not replace fiat

[InSilva]

But you can come to my country and you will sit in restaurant, you will drink and eat and when a waiter come and ask you to pay all that, you try to give him euros or dollars? Well its not working, a waiter will tell you how he can't accept it, and you will have a problem.
Bitcoin can replace fiat, simply cause bitcoin have potential to be universal global currency. Fiat is not one currency, dollars, euros, rubles, dinars, and who knows how many other fiat money is there. When will Russia accept dollar, or US rubles, when will Asia accept euros? I will tell you, never! But for bitcoin there is a chance to be accepted by everyone!

Everything has the chance to be accepted however it depends on the country as well . No country will want to accept another currency apart from their own original currency unless something happens to their currency however it is rare to see something to happen unless inflation finally burst out of control

Bitcoin will always be uses as an secondary currency and not an primary one as no Government will allow any digital currency to replace its national currency, so I think fiat will always exist.

When you say "will not allow", what do you mean by that? If cryptocurrency overcomes it's obstacles and is able to replace fiat currency, the government will do what exactly?

[dezoel]

Or it may die because of being replaced by XMR

of course it might die too, with bitcoin everything is possible and i think it can either make people rich or make everyone even poorer than they were

Exactly anything is possible with bitcoin, so its recommended not to invest all your money in bitcoins as if it disappears in future then we would find ourselves begging on the street for food.

[Bitcoinbro]

This thread makes no sense. Because once Bitcoin start to take over fiat then it means people will be paid in bitcoin. Which debunks your whole problem. See it like this, companies will see it is profitable to pay in bitcoin cause of no fees and fast transfers. So they will start to give the option to pay out in bitcoin which will make it mass adopted.

[danherbias07]

This thread makes no sense. Because once Bitcoin start to take over fiat then it means people will be paid in bitcoin. Which debunks your whole problem. See it like this, companies will see it is profitable to pay in bitcoin cause of no fees and fast transfers. So they will start to give the option to pay out in bitcoin which will make it mass adopted.

That is only possible with stability. Think of it this way. I am an owner of a business and I pay my employees thru bitcoin. I givr them 1 btc a month at $600 dollars. Suddenly, the price of bitcoin switched to $700 and I my storage is not enough anymore so I need to buy more to pay other employees.

Question: where are you at that exchange? You will pay more to buy bitcoin for them. That is a lost. Income just went down because I paid more buying a bitcoin.

[Altynbekova]

Bitcoin will replace fiat once it is very big and like very used in every country because people will start to think about the benefits and bitcoin actually saves money cause there are no fees. So then when that happens bitcoin will overrule fiat and people will be paid in bitcoin.

[Akupuniard]

Sure it's not possible, but bitcoin can become legal somewhere and fiat and bitcoin will be equal, i hope i will see this soon, but now online shopping only

[0day]

But you can come to my country and you will sit in restaurant, you will drink and eat and when a waiter come and ask you to pay all that, you try to give him euros or dollars? Well its not working, a waiter will tell you how he can't accept it, and you will have a problem.
Bitcoin can replace fiat, simply cause bitcoin have potential to be universal global currency. Fiat is not one currency, dollars, euros, rubles, dinars, and who knows how many other fiat money is there. When will Russia accept dollar, or US rubles, when will Asia accept euros? I will tell you, never! But for bitcoin there is a chance to be accepted by everyone!

Everything has the chance to be accepted however it depends on the country as well . No country will want to accept another currency apart from their own original currency unless something happens to their currency however it is rare to see something to happen unless inflation finally burst out of control

Bitcoin will always be uses as an secondary currency and not an primary one as no Government will allow any digital currency to replace its national currency, so I think fiat will always exist.

But what if it is started to use internationally and get more favor than any national currency and the other point is that we do not want bitcoin to be a national currency of any nation, but we want it to be a global currency for all of the world and with that it will be a primary currency in the future.

[pitham1]

Or it may die because of being replaced by XMR

XMR may be the flavour of the season, but it is not the solution to everything.
Bitcoin has its troubles, but they definitely can be overcome.

[Doms]

Nothing is impossible and fiat is not immune to the possibility of being replaced, either by bitcoin or some other form of currency. But I don't think that is going to happen in the near future. The dependency of people in fiat is something that cannot be set aside easily. Bitcoin is an ok currency but there is still a lot of development to be done before it can becomes adopted by the masses.

[Doamader]

Nothing is impossible and fiat is not immune to the possibility of being replaced, either by bitcoin or some other form of currency. But I don't think that is going to happen in the near future. The dependency of people in fiat is something that cannot be set aside easily. Bitcoin is an ok currency but there is still a lot of development to be done before it can becomes adopted by the masses.

I doubt bitcoin will replace anything, isnt that the purpose of bitcoin. Fiat can disappear one day, but some digital currencie created and controled by the countries will show off.

[danherbias07]

Nothing is impossible and fiat is not immune to the possibility of being replaced, either by bitcoin or some other form of currency. But I don't think that is going to happen in the near future. The dependency of people in fiat is something that cannot be set aside easily. Bitcoin is an ok currency but there is still a lot of development to be done before it can becomes adopted by the masses.

Your opinion might be right. It is really for the future, but it must be discussed before being implemented. That will rake a long time changing it, some part of every country have a place that is not yet reached by technology or if there will be some it is too far away from them and they are just relying with fiat. If all of that can be changed then it could be done. It will take a leap for it to happen in a faster way.

[boyptc]

Sure it's not possible, but bitcoin can become legal somewhere and fiat and bitcoin will be equal, i hope i will see this soon, but now online shopping only

Because the people are still lack of knowledge about bitcoin. And once the government of a country is going to see the potential of bitcoin as a good currency for sure they are going to recognize and going to recommend using it. And we all know that bitcoin is very convenient at all, it cannot replace fiat but it can be a good secondary currency for a country.

[Finestream]

Nothing is impossible and fiat is not immune to the possibility of being replaced, either by bitcoin or some other form of currency. But I don't think that is going to happen in the near future. The dependency of people in fiat is something that cannot be set aside easily. Bitcoin is an ok currency but there is still a lot of development to be done before it can becomes adopted by the masses.

I doubt bitcoin will replace anything, isnt that the purpose of bitcoin. Fiat can disappear one day, but some digital currencie created and controled by the countries will show off.

There is no way fiat will disappear, but I believe bitcoin will be a more successful currency in the future and it will increase its adopters because they can experience the benefits of using bitcoin, I am pretty sure one people will start to use bitcoin they will be hook with it and will only limit the use of fiat especially when the users love to transact online.

[STT]

However if one already owns bitcoins, this problem that you have becomes non-existent.

Yes, but what I am talking about is mass adoption. I don't see my grandmother owning BTC.

Your grandma could just own a token form of bitcoin.  Im not sure why bitcoin should be more complicated then a national currency, it could be handled or presented easily enough by various entities.   All that really lacks is confidence and regulation, so you end up relying on each company providing a service of convenience for bitcoin not to be neglient in their security or other risks.  Like we saw with exchanges thats where it can go wrong.    Thing is with national currency originally, banks did fail and it was just isolated to those customers judgement and the brand they invested in.  They now have central banking and largely its a system controlled by one point of failure with government and unfortunately it is failing.    
I think I prefer the small split up risk of dealing with each company and the bitcoin unit itself retains integrity.  now we have the opposite where every unit of currency is being devalued

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.

bitcoins should be made as simple as possible, shed the elitist cryptographic Im a fricking genius to totally understand this protocol default stance and make it as modular as lego.  Having a clue how it works should be incidental and in no way indicative of success of use,  if that attitude never changes then yea its not going to be more then a tech sideline.
   Some other populist remake will actually take off, its usually not the inventor who succeeds but those who develop and assimilate it into the common consciousness with least trouble.   Nokia came up with a smart phone concept before Apple for example, they just had no where as much savvy in bringing it to customers, I think they just kept it back for fear of overcomplicating simple devices.
IBM invented the PC but never captured the market, its a regular theme for this to occur so it might with bitcoin possibly

   Whoever develops this whole mass market approach needs only do one thing, which is to ask themselves can I use bitcoin while drunk because if thats still possible then its probably become easy enough for mass adoption

[saiha]

Or it may die because of being replaced by XMR

I don't think that bitcoin is going to die easily and going to be replaced by XMR. It would be basically replaced by ETH instead of it.

But base on what is happening today with bitcoin, the possibility I can see that bitcoin is going to die is 0%.

And for the replacement for fiat is also impossible thing to happen. Because the people are used to fiat since the early days for having some transactions.

[madwica]

Yes true that fiat still remain even the value of bitcoin would be huge in the future because not all people can used bitcoin it is required to have laptop or devices that you can access your bitcoin wallet to used it.

[Maslate]

I do not see in any circumstances that bitcoin can replace fiat, fiat will always be supported by the people because they have been using it for a long time already and they have no issue with using it.

[Shibashi Dogemoto]

I do not see in any circumstances that bitcoin can replace fiat, fiat will always be supported by the people because they have been using it for a long time already and they have no issue with using it.

Yeah they are comfortable with it and they are using it since long time and it can be used anywhere so I don't think it will not be easy for them to switch to bitcoins.

[Reid]

I do not see in any circumstances that bitcoin can replace fiat, fiat will always be supported by the people because they have been using it for a long time already and they have no issue with using it.

Yeah they are comfortable with it and they are using it since long time and it can be used anywhere so I don't think it will not be easy for them to switch to bitcoins.

Can we consider this like a tradition? People are used to it and they just cant get away with it. It is almost the same with a tradition. It doesnt stop as long as it is being preserved right? So if that is the case it will be really hard to put fiat out.
Maybe if it will be forgotten then there will be a possibility.

[Qunenin]

I do not see in any circumstances that bitcoin can replace fiat, fiat will always be supported by the people because they have been using it for a long time already and they have no issue with using it.

Yes, it will take a lot of time until bitcoin is replaced by Fiat.  I think we should say that the next generation can do this as the current generation is not fully aware of benefits of bitcoins.