Bitcoin can not replace fiat

[Makak4R]

We need a blockchain technology that will rival the speed of VISA or Mastercard (thousands of transactions per second).
Once this happens, we can buy a cup of coffee with bitcoin or our alts.

Governments will fight to the death to retain control of power thru fiat, they may even release their own blockchains.
Money is power. Bitcoin is very disruptive and creating a power shift or distributing it to the masses.

the speed of transactions is important, there is no doubting in that!
but my real concern is the spikes  of the price! How will you handle them?
Say you come to the coffee shop for your morning coffee and instead of 1 coins, they say pay 2!
What the heck, yesterday it was only 1, right?!
so how you will deal with that kind of stuff?   

[OrangeII]

I agree with you. Bitcoin cannot replace fiat money. Yes, bitcoin has a value, a large value and it's popular but it cannot use as local money. Our economy needs the fiat money for the circulation of the money which determines the state of our economy.

Me too i agree with that, fiat money was in here ib a long time since bitcoin is not here, fiat was in for a long long years, so bitcoin cannot replace it. No matter what happen, Bitcoin has no chance to beat the fiat currency,

besides the fiat in each country also has its own value, so when bitcoin replaces fiat, it will all be the same, and of course it will give rise to new regulations about economy. I think bitcoin can not replace fiat.

[Charisse1229]

Yes bitcoin can not replace fiat cause bitcoin can only used in online transactions and for investment but fiat is very useful it can be use for daily living.

Yes and the fact is we cannot use bitcoin physically at a moment and that is the reason fiat will always be in demand and even in future there will be many people who will prefer to use fiat.

As of today fiat are still important as the people doesn't even know what is in the trend of technology. But once the government is going to implement the use of bitcoin.
For sure bitcoin will replace the use of fiat.

Do you really believe that Government will standby bitcoin ever in future? I don't think that is ever possible as fiat holds maximum users and they find it using very easy and convenient.

I think it is hard for the governments to support bitcoin as currently no one knows that who is the sender and receiver of a transaction,  and the governments accept only those transactions which are obvious to the government.

I believe bitcoin besides move the current fiat to digital transactions, will be an option as investment as gold and others currencies and will work well with fiat being both at the same side. And we don't expect that bitcoin is going to reach on its current price today.
So that is possible that bitcoin will be endorsed by the government. And besides not all people knows what bitcoin is, how to get it and how to use it

[Kasabus]

I agree with you. Bitcoin cannot replace fiat money. Yes, bitcoin has a value, a large value and it's popular but it cannot use as local money. Our economy needs the fiat money for the circulation of the money which determines the state of our economy.

Me too i agree with that, fiat money was in here ib a long time since bitcoin is not here, fiat was in for a long long years, so bitcoin cannot replace it. No matter what happen, Bitcoin has no chance to beat the fiat currency,

besides the fiat in each country also has its own value, so when bitcoin replaces fiat, it will all be the same, and of course it will give rise to new regulations about economy. I think bitcoin can not replace fiat.

Which I think would not happen due to that reason, people will also support what the government will tell because they have the power and
we citizens need to adopt with the law, otherwise we will be penalize. Bitcoin will never be as powerful as fiat, it will continue to be the best payment online system only.

[twicezeroiszero]

I agree with you. Bitcoin cannot replace fiat money. Yes, bitcoin has a value, a large value and it's popular but it cannot use as local money. Our economy needs the fiat money for the circulation of the money which determines the state of our economy.

Me too i agree with that, fiat money was in here ib a long time since bitcoin is not here, fiat was in for a long long years, so bitcoin cannot replace it. No matter what happen, Bitcoin has no chance to beat the fiat currency,

besides the fiat in each country also has its own value, so when bitcoin replaces fiat, it will all be the same, and of course it will give rise to new regulations about economy. I think bitcoin can not replace fiat.

Which I think would not happen due to that reason, people will also support what the government will tell because they have the power and
we citizens need to adopt with the law, otherwise we will be penalize. Bitcoin will never be as powerful as fiat, it will continue to be the best payment online system only.

That is the truth.
The fact, almost the people all scare the power of the government.
There are not much people want to against the government, unless the decision of the government are unfair and unreasonable.

[Choyor]

For certain public sectors such as online stores, supermarkets, factories or other businesses that allow the use of Bitcoin as a transactional tool, Bitcoin can replace paper money. But if Bitcoin is used to replace fiat money globally, I think it is now impossible because there are still many people in the world who have not been able to reach Bitcoin because of the limited access and media to Bitcoin.

[princesspoppy]

yes i agree that bitcoin can't replace fiat. Fiat can be use anywhere by different levels of people, although bitcoin is an investment and currency to many who uses it to pay services/products, still it can't replace fiat, if  it happens to be global currency, what will happen to those people who doesn't know anything about bitcoin and doesn't have any bitcoins, they can't buy anything, they still have to buy bitcoins in order to buy things? Bitcoin is an investment and currency to others that can be converted to fiat.

[sathvik112]

If all people in country stop using FIAT then their government also ignore FIAT and prefer Bitcoin. It actually taken place in a country. How ever when both currencies are making transacted by many people then there is a possibility that bitcoin can not replace fiat because trust level is not complete and in mean while if government ban bitcoin. There it ends.

[lestariptr]

It could be that bitcoin can not replace fiat because the old paper currency used by people all over the world bitcoin can only compete with fiat to replace it seems never to be in my opinion.

[mx667]

If all people in country stop using FIAT then their government also ignore FIAT and prefer Bitcoin. It actually taken place in a country. How ever when both currencies are making transacted by many people then there is a possibility that bitcoin can not replace fiat because trust level is not complete and in mean while if government ban bitcoin. There it ends.

The currency of a country can never be replaced by a digital currency. If everyone is required to use ATMs, cryptocurrency, and other digital money .. what do you think, the fate of those living in the village or in a simple neighborhood? How do they shop at a place like in a traditional market? Is not cash still needed? If someday cash is abolished and replaced with digital money, then maybe later those who live in the village and in a simple environment will use the same barter system as ancient times. Well, it is just my opinion.

[FoxTheHuman]

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.

Bitcoin can not replace it or anything, but it can change things drastically. It has really changed our perception as well as our investment form.

[Ulan01]

Although the use of bitcoin is the same as fiat, but I think bitcoin will never replace fiat. because in each country has its own currency. and bitcoin value is too big for everyday shopping. So bitcoin is more suitable to be international currency.

[Isaacck]

In my opinion, bitcoin does not goal to replace fiat, because fiat is irreplaceable. I think bitcoin's mission is to provide another way of transferring and storing money where the expectations of the users are met. There are things fiat can do that bitcoin can not but there are also things that bitcoin can do that fiat can not do. For me, bitcoin is another option, and a fountain of opportunity.

[Emem29]

Of course can't fiat money replace bitcoin, because we still use fiat money at the end look how much banks they are in the world they won't just change to go to bitcoin. Bitcoin is just good when you trading or other stuff. Also we need fiat for bitcoin price.

The thing I love about banks... "We want the blockchain, not Bitcoin".
So unintelligent, they want to cut down their maintenance costs and take the blockchain for their own stuff. It will probably end up in firing a lot of people from accounting too.

Bitcoin cannot replace fiat. Becuase fiat is a part of our nation, maybe bitcoin can called fiat soon. Bitcoin is the best currency and it has a lot of opportunities and resources for money making. But he cannot replace fiat as i said.

[Stegobit]

With Lightning Network scaling solution, Bitcoin can easily replace fiat even for small & instant purchases.

[ReindeerOnMe]

Of course can't fiat money replace bitcoin, because we still use fiat money at the end look how much banks they are in the world they won't just change to go to bitcoin. Bitcoin is just good when you trading or other stuff. Also we need fiat for bitcoin price.

The thing I love about banks... "We want the blockchain, not Bitcoin".
So unintelligent, they want to cut down their maintenance costs and take the blockchain for their own stuff. It will probably end up in firing a lot of people from accounting too.

Bitcoin cannot replace fiat. Becuase fiat is a part of our nation, maybe bitcoin can called fiat soon. Bitcoin is the best currency and it has a lot of opportunities and resources for money making. But he cannot replace fiat as i said.

Bitcoin will never be fiat, it will not be also called that way, you would not like to make bitcoin a fiat because one of it's good feature will be gone, the decentralization which attracts a lot of investor in these digital currency.

[wawanwawan96]

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.

fiat is not very influential on bitcoin everyone still uses paper money to pay for a cup of coffee so it takes time for bitcoin to be a means of payment around the world.
if you have so much bitcoin all you can get.

[nimbustoken]

I think it is possible for cryptocurrency technology to replace fiat someday but not specifically Bitcoin. The transaction rate is way to slow for a global system.  Here is an interesting article from the MIT Review on how some technologies might be used to speed up the transaction process. IOTA has been discussed elsewhere on here, but this article offered a fresh look at the issue.

Who knows where it will take us, if anywhere?

[Stegobit]

Which I think would not happen due to that reason, people will also support what the government will tell because they have the power and
we citizens need to adopt with the law, otherwise we will be penalize. Bitcoin will never be as powerful as fiat, it will continue to be the best payment online system only.

That is the truth.
The fact, almost the people all scare the power of the government.
There are not much people want to against the government, unless the decision of the government are unfair and unreasonable.

In many countries people are really fed up with corrupt autocratic govt and use any available means to weaken and destabilize it, or at least escape from it's eyesight.
Cryptocurrencies gave hope to many people!

[@matthew17]

I think yes , fiat cannot replaced by the other currencies .