Bitcoin can not replace fiat

[harizen]

I will just say, the biggest problem to Bitcoin being adopted,  or 1000x bigger than it already is..  It's the on ramp ! If government's would get the fuck out of the way. Stop regulating the shit out of the on ramp. Cut the AML/KYC bullshit, and let people, banks, business freely exchange Btc for fiat, or credit cards. Allow boarderless transactions. It would be huge, and most if not every business would accept it, and why not? Who wouldn't want another flavor of ice cream.

Even with 100% adoption of bitcoin globally still it can't replace fiat.

Another flavor of ice cream is just an option and not meant for replacement it as a whole.

[randy8777]

I will just say, the biggest problem to Bitcoin being adopted,  or 1000x bigger than it already is..  It's the on ramp ! If government's would get the fuck out of the way. Stop regulating the shit out of the on ramp. Cut the AML/KYC bullshit, and let people, banks, business freely exchange Btc for fiat, or credit cards. Allow boarderless transactions. It would be huge, and most if not every business would accept it, and why not? Who wouldn't want another flavor of ice cream.

Even with 100% adoption of bitcoin globally still it can't replace fiat.

Another flavor of ice cream is just an option and not meant for replacement it as a whole.

i seriously hope that bitcoin will never replace fiat money. purely because of the fact that governments will take serious actions against bitcoin if it grows too large. if we at some point manage to have 5-10% of the people in the world to use bitcoin, then bitcoin's mission has succeeded. from out of nothing it made the world know bitcoin is here to stay.

[MaritiJames3]

The bitcoin can not replace the fiat, I'm also pretty sure of that to be honest because the bitcoin its right now just too little.
Plus I also think there are too many people depending on fiat itself.

[adomers]

The bitcoin can not replace the fiat, I'm also pretty sure of that to be honest because the bitcoin its right now just too little.
Plus I also think there are too many people depending on fiat itself.

Bitcoin can never replace fiat, bitcoin will be used as currency but it will never replace fiat, as there are few things that only fiat can take care of, bitcoin will be popular but will not used as a major currency

[rababo]

Bitcoin and fiat can work together without problems. Right now bitcoin is tied to fiat which is a great thing. I don't understand why people still think bitcoin could replace fiat one day. It won't be happen.

[MedaR]

if the money is not important as the payment system and how you can live in this world, what you use as your means of payment when buying something.

No we talking about fiat money vs bitcoin. Why bitcoin cannot replace fiat, because only purposes of fiat is to create debt and economic slavery. With bitcoin this is not possible. We all know who ruling the world, and what they are capable to do..

[Supercrypt]

~snip~
So you can continue with bitcoin and your needs of using bitcoin for direct purchase will increase when years pass, so without doubt bitcoin will continue in the rising side but wont replace fiat.

Yes, bitcoin will rise to much height but will be unable to replace fiat, because the nations do not want to see their national currency to disappear and to be replaced by some other , every nation is in the hope that one day their currency will have much strength.

[GamingBro]

Bitcoin and fiat can work together without problems. Right now bitcoin is tied to fiat which is a great thing. I don't understand why people still think bitcoin could replace fiat one day. It won't be happen.

People just dreaming about it, i am sure that everybody understand that wont happen anyway. About working togather you are right it's really can be profitable for both sides.

[goinmerry]

This thread is the realistic deal. How could you replace fiat if you are online. That is two different kind of money. Yes people are starting to use credit cards only. But those are for rich people (yeah bash me about this but its true)  average people couldnt afford to pay for a credit card and it is risky becausd once you got a hold of that card you can be a shopping spree addict. That could hurt your budget if you are one of the average salary person.

People still need fiat. This can be budgeted in a better way and be seen always even if you arent online.

[darewaller]

I believe that bitcoin will never replace fiat because fiat is a well organized money and fiat system is supported by every government around the world and each money that a country have has its history behind it.

No, it is not good to say the fiat is a well organized currency, as fiat is only a fiat used by the people and governments for their use only, the only thing is that it has a strong support, but not have any organized method for it to maintain.

[Fatanut]

Finally, a thread worth answering.

Nope, bitcoin can replace fiat. I don't know where to start this discussion.

Fiat is being used for hundreds of years already, while bitcoin is being used for decade/s. Fiat is the kind of money that people got used to. By birth, fiat is already being used. But fiat being used for so long before bitcoin is not the reason why bitcoin can replace fiat. Actually there are various factors but I'm just gonna discuss the most important once.

Today, we've got banks that has tons of fiat inside. Those fiats are used by people everyday. Let's just assume that bitcoin, got really really trendy/popular. People will then trade their fiat money for bitcoin. And then let's assume that people really got into bitcoin and most people, let's say 70% of the population bought all their money bitcoin. The 30% of population that has fiat money will feel left out, which is by nature people fears.

With the 30% of people withholding fiat money, and 70% of people having bitcoin, the fact that there's a massive buying of bitcoin means bitcoin's price will go up. Making the value of fiat money lesser and lesser. That 30% of people will not get the feel to use fiat anymore because it has a lesser value than it used to before. Of course they will buy bitcoin too! Making 100% of the society to have bitcoin. Fiat will have no value and will be treated as 'old-age' or 'classic' money.



Bitcoin then replaced fiat money as the main type of currency.

Although there are some parts of the world that is not that civilized or not informed about the internet, they will not be using bitcoin then. They will use fiat. Although eventually they will use bitcoin too.

[eddyubachs]

I believe that bitcoin will never replace fiat because fiat is a well organized money and fiat system is supported by every government around the world and each money that a country have has its history behind it.

No, it is not good to say the fiat is a well organized currency, as fiat is only a fiat used by the people and governments for their use only, the only thing is that it has a strong support, but not have any organized method for it to maintain.

The value of fiat is decreasing and it will decrease in future too, bitcoin is the only currency whose value keeps on increasing over a period of time.

[romero121]

I believe that bitcoin will never replace fiat because fiat is a well organized money and fiat system is supported by every government around the world and each money that a country have has its history behind it.

No, it is not good to say the fiat is a well organized currency, as fiat is only a fiat used by the people and governments for their use only, the only thing is that it has a strong support, but not have any organized method for it to maintain.

The value of fiat is decreasing and it will decrease in future too, bitcoin is the only currency whose value keeps on increasing over a period of time.

That's not fair that bitcoin is continuing to rise and fiat is on the decreasing side. Fiat never gets replaced, when bitcoin price decreases if fiat value goes low.

[MedaR]

We here talking about different systems. Centralised used for economic enslavement of people and Decentralised that bringing more freedom and opportunity for the people. Why do we need to mix those systems? I know wich is best for me, but i cant stop using other system without consequences.

[mark coins]

It cannot replace fiat, as both are currencies and both have different user base, we cannot force any one to use something, they will only use if they find it comfortable to use.

[Mr. Big]

It cannot replace fiat, as both are currencies and both have different user base, we cannot force any one to use something, they will only use if they find it comfortable to use.

That's right...people are still comfortable using fiat..Senior citizens would be having a hard time if they will be forced to use bitcoin, so by that, as long as people still believe and use fiat, bitcoin could never  replace it...

[silencesilence]

I fully agree that Bitcoin can not replace paper money, but it can become unified world currency accepted all over the world 

[n0ne]

I fully agree that Bitcoin can not replace paper money, but it can become unified world currency accepted all over the world 

As mentioned replacing fiat or paper money is imaginary. It might be accepted by most users as an unified payment portal for higher transactions which takes time if processed through banking network.

[Vaskiy]

I fully agree that Bitcoin can not replace paper money, but it can become unified world currency accepted all over the world 

As mentioned replacing fiat or paper money is imaginary. It might be accepted by most users as an unified payment portal for higher transactions which takes time if processed through banking network.

Yeah I agree bitcoin can never replace fiat, also it is hard to accept bitcoin all over the world legally as it is considered as a threat for the banking systems in most of the countries.

[jackg]

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.

Thera are also ideas of tax avoidance and transaction fees to wory about.
A transaction alone with a transaction fee of around 0.0001BTC can take several hours to confim.

Take your cup of coffee at: £1.50  or ~BTC0.005
If you have a transaction fee of BTC0.005 it could still take half an hour to confirm.
Even when it is sent, if more people use it, there is more traffic so payments could bounce for several hours, days or even months before they are sent.