Bitcoin can not replace fiat

[imsotiredofmoviereboots]

I believe that it's not going to replace each other but both will exist. I think that if mass adoption become successful, maybe 80% of the world's population are using bitcoin and the rest are still using fiat.

[popoypalaboy03]

you can have cash hidden under the mattress that gets burned in a fire. You can have gold jewelry which gets stolen. You could have a safety deposit box that your children do not know about. You could have money in a bank which goes bust. The risks associated with Bitcoins are on par with those associated with many other established currencies, and that, if anything, they offer advantages that other asset forms do not Really, when you think about it, where is the safest place to keep your wealth and still have access to it? Well, you could opt for Bitcoins, a virtual currency which has no ties to any monetary authority, no underlying commodity and no fixed exchange rate.

[jatin729]

Bitcoin can not replace fiat because Still there are many countries which are not interested in bitcoins,
also do we really think that we can survive without fiat currency? simply answer no, because Central banks won't allow bitcoin to enter into Fiat market because Bitcoin must be centralize first.
There are few countries which legalize bitcoin for eg, Japan, South Korea . But There are still fiat currency is preferable over bitcoins.

[ArIMy11]

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.

At this time, yes it impossible for bitcoin to replace fiat all over the world. I just do not know how the future will goes. Maybe in the future, it is possible.
Goverments, store, companies still deal with fiat although some stores especially online shops accept bitcoin, it is not enough reason for bitcoin to replace fiat.
In this country, we have lots of ATMSs, credit cards, we also have lots of stores. We all know atm can be accepted to pay for the products we buy but not in this province. Yes, we have are little behind to an advanced technology of some other countries. Sad. Plus they do not have any idea what bitcoin is or any other currencies plus we have turtle internet here.

[candy69]

I don't think bitcoin will replace fiat. But, as days will pass more and more institutions, organizations, and companies will accept bitcoin.

[nikitano]

Can any person teach me what is fiat?Is fiat also cryptocurrency?A lot of instances someone in this forum is speaking about fiat and I every single time seem wtf what is that?I always feel that they think about fiat auto but I now see that they dont.

[Kiweikoo]

The problem is that men and women do not have faith in bitcoin as considerably as they have confidence in fiat income. I consider bitcoin only as an alternative way to purchase and sell issues. There are not ample coins to be employed by all individuals folks that use fiat cash.

Why would you say men and women do not have faith in bitcoin ?
We all on this forum are all men and women, ladies and gents, youths and adults, and even outside this forum too. The reason why we are all here is because we have absolute faith that bitcoin would free us from the slavery that has been imposed on us over this years.

There is one thing to have access to that information, it is one thing not to have faith. I am sure every common man and woman that understands the importance of bitcoin would definitely have faith and be optimistic.

[misterj]

It could and it should not because when it does some or few greedy government would come up to an idea where they could mess up bitcoin or other cryptocurrency just like fiat or our spending money. Imagine laws and rights applied legally here and there, there would be chaos. Banks would have their greedy mentally make up solution to steal from us legally but this event could happen if the government is corrupt if not, then everyone could earn and have a better economy than ever in my opinion.

[DeItaNights]

The bitcoin has a great long term however the dollar will stay winning without any uncertainties simply because it features a far better long term and its additionally that its stil much better than the bitcoin.The buck also offers more energy compared to bitcoin ever wil have.

[websoftwareengineer]

In my own opinion, Bitcoins cannot replace fiat since not everyone is knowledgeable about bitcoins and never knew how to earn this coins. Most of the person who are only capable of earning bitcoins are from the middle class.

[Unilevear]

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.

Agreed! Bitcoin can never replace fiat money. We had been caught up in this digital currencies that many of us started investing in it knowing that we could earn ample amount of money. Holding to the idea that bitcoin could be the mainstream currency. We just cant suddenly ignore fiat money that has been there for a very long time, with the emergence of cryptos. It is still better to use paper money for small transactions in our everyday life.

[supercanada1]

I don't think bitcoin will replace fiat. But, as days will pass more and more institutions, organizations, and companies will accept bitcoin.

It is true and a lot of the people are here who use to think like this because they are not aware of the real power of the bitcoin, the bitcoin is now increasing more and more in 50% of the countries are using the bitcoin and the bitcoin is being the world famous just in the few years I hope the bitcoin will not replace but it will take the place of the fiat just in a few years as we can see the bitcoin is increasing in the value more.

[Malaya]

For now it is easier to say that bitcoin can not replace fiat. Anytime this year and the next years to come, fiat will still be the mode of transaction for any business around the world. However, the greater opportunity comes along with bitcoin because this has been accepted by a lot of countries globally. We may not know Bitcoin will extremely be an amazing currency of all time 50 years from now.

[Gotottack]

I cannot swear by the same belief that Bitcoin cannot replace fiat. I think there are good possibilities knowing that governments worldwide find it hard or extremely difficult to put an end or regulate Bitcoin usage. I think their acquiescence to it somehow implies acknowledgement that it has a good potential to grow in the market. Thus, just stand still. We will all figure out later on.

[Zemomtum]

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.

Maybe this is possible in the future, if almost everyone already knew about bitcoin and if our technology can already and can handle bitcoin transactions easier and faster. If almost all establishments accept bitcoin for payment, transactions would be faster and bitcoin will be more convenient to have and use compared to bitcoin.

[Bosx1ne]

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.

We all know that the fiat money is the money that we are seeing in everyday life. Cryptocurrency are still doesn't have enough power to surpass fiat money. I think it is true that bitcoin cannot really replace fiat money.

[wareen]

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.

Agreed! Bitcoin can never replace fiat money. We had been caught up in this digital currencies that many of us started investing in it knowing that we could earn ample amount of money. Holding to the idea that bitcoin could be the mainstream currency. We just cant suddenly ignore fiat money that has been there for a very long time, with the emergence of cryptos. It is still better to use paper money for small transactions in our everyday life.

Today, we can use FIAT through digital technology, although there are many limits to use the amount of money in credit card, but to be honest, it is better than Bitcoin because most of countries support this platform without any ban. While, if you use Bitcoin in those who countries banned Bitcoin or cryptocurrency for payment, you will break the law

[PrinceCaspian]

Bitcoin can not replace the fiat because of the trust that people that are in the banks primarily. Bitcoin will never replace the fiat and bitcoin will stay for being an additional way of earning money and for an option for being a way to transact different kind of payments online.

[Naoko]

Bitcoin can not replace the fiat because of the trust that people that are in the banks primarily. Bitcoin will never replace the fiat and bitcoin will stay for being an additional way of earning money and for an option for being a way to transact different kind of payments online.

agree...in my opinion, they perform even different functions...bitcoin is best used as an asset, not as money

[Eternu]

I don't think bitcoin will replace fiat. But, as days will pass more and more institutions, organizations, and companies will accept bitcoin.

It is true and a lot of the people are here who use to think like this because they are not aware of the real power of the bitcoin, the bitcoin is now increasing more and more in 50% of the countries are using the bitcoin and the bitcoin is being the world famous just in the few years I hope the bitcoin will not replace but it will take the place of the fiat just in a few years as we can see the bitcoin is increasing in the value more.

That what you say is not impossible, but to be totally honest what we want is not always what happens. Bitcoin have a lot of potential, and it is truth that its community is growing fast. But for Bitcoin to replace fiat currency Bitcoin needs a lot of work. There are too much issues that need to be fixed before it could become worlds currency. Also we must not forget that governments will not allow some cryptocurrency to make them problems, also countries have their currency and they will not replace them with Bitcoin. One day maybe, but not in a few years like you think.