Bitcoin can not replace fiat

[Creepings]

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

Well there is only one fiat that circulates one country so that is obvious that it will never be replaced by other currencies, but we are talking about crypto currency here, I don't treat bitcoin or any other a currency since they are still not accepted as a payment of a lot of people and even the government, I will be just looking at it as an asset that will never replace fiat.

[Qwantoom]

Some countries already banned it so it's just clear that fiat will coexist with bitcoin.

[vintastiko]

Bitcoin is bitcoin, fiat is fiat even fiat can't replace Bitcoin so bitcoin can not do the same thing with fiat. It's just because they have too much differences.

[cryptorTUX]

Maybe it can't but there is a large place for both of those to co-exist, maybe bitcoin won't be the one to replace fiat but some other crypto - coin will.

[Jaron80]

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.

As long as the user experience to acquire bitcoins remains difficult, bitcoin will stay a speculative investment.

[Utanjaran]

Until now spread of bitcoin in real life has not been felt in the sense can't used as means of payment for daily needs. This is normal, because bitcoin still needed to be socialized by investors and not as instrument to increase wealth. I think later, bitcoin will actively co-exist with fiat as transaction tool.

[Payne976]

Well in the uk this week some new build Homes have been sold for bitcoin..... Great news!

[Criptomen@30]

I agree bitcoin can not replace Fiat.  Bitcoin is better then gold in some ways

[Bondho Kompeni]

This is because bitcoin still has not received official recognition from the state that bitcoin is a currency, and I find it very difficult to replace fiat because fiat is protected by state law.

[Stegobit]

Until now spread of bitcoin in real life has not been felt in the sense can't used as means of payment for daily needs.

Many shops accepting Bitcoin already and their numbers grows rapidly!

[n691309]

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.

More statement to add to this why bitcoin can't replace FIAT. Bitcoin can accommodate 4 transactions every second which will delay the transaction of any payment worldwide. Bitcoin is a currency that cannot be used without the presence of internet (big problem). but once this issue has been resolved there's no doubt that bitcoin will be the first to use currency in the whole world. And another issue will be the vitality of bitcoin.

[Japinat]

This is because bitcoin still has not received official recognition from the state that bitcoin is a currency, and I find it very difficult to replace fiat because fiat is protected by state law.

Bitcoin is decentralized and that cannot be change, fiat can be easily controlled and monitored by the government so they will choose the one to stay which will give them benefit. If bitcoin will be used by the majority, it's going to be risky for them due to the price volatility, and if they didn't fully understood its nature, that would cause panic to everyone who lacks knowledge about bitcoin but have used it.

[morrischow]

I agree bitcoin can not replace Fiat.  Bitcoin is better then gold in some ways

I think Bitcoin only is better than gold just because of it's profit. It can't be comparing with Bitcoin about the stable feature.

[swordling143]

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.

For now, I believe it can't. The thing is people are not very fond of change. Therefore, it will be really difficult for most of the population of the world to not use the Fiat system that they are used to. They will feel not secure about what they have because they feel that internet is something that can be easily hacked or infiltrated.

[boyshx]

Fiat currencies are here for more than hundreds of years. They have universal acceptance. Almost every country of the world have its own fiat currency. Fiat currencies are easy to operate and have no transaction time and charges. Still they have many drawbacks in big transactions. Fiat currencies are number one currencies but they may get overtaken by the digital currencies in near future. Digital currencies have many advantages as compared to fiat currencies. Electricity, internet connectivity are the basic requirements for the smooth operation of digital currency like bitcoin. In future if all the people have these bitcoin or any similar currency may overtake fiat currency. Chances of replacing fiat currency completely are much less.

[shark69]

I think fiat can not be displaced by bitcoin. because fiat money d guard by government while bitcoin only digital money. but for the highest bitcoin prices

[cryptorTUX]

I agree bitcoin can not replace Fiat.  Bitcoin is better then gold in some ways

Give me explanation why it is better than gold?

I can touch gold, bitcoin is just number on computer that we all agree on. People see it as "digital gold" as an asset, but isn't it build for transactions, to be mainly currency?

 I can't get this over my head my transaction needs like 2 days tops to confirm!! yes gold would still need more time to transfer but from transaction perspective this is a disaster.

Explain why bitcoin is better than gold pls?

[Snub]

I don't think that this is possible even in the future...in any case, bitcoin won't be able to use absolutely by all people...therefore fiat will always be available and will be needed

[zombie6]

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 is by nature deflationary! and Fiat by its nature is inflationary, it is more profitable for you to spend money than simply to save them because they become cheaper! or their price remains the same! on this in fact, and builds the economy, on inflation! if no one will spend money then there will be no liquidity and this is very bad!

[Gheka]

I don't think that this is possible even in the future...in any case, bitcoin won't be able to use absolutely by all people...therefore fiat will always be available and will be needed

I agree with you, bitcoin is just a place to invest, it is not an official currency that can be used in real life, in the world, the number of people know about bitcoin is still very small, bitcoin is not common. Conversely, fiat is used much more commonly than bitcoin, anywhere in the world can also use fiat, it was accepted by the government and received the trust of the people, Bitcoin does not have the capacity to compete with fiat, it is unstable and it lacks the support and permission of the government, so replacing fiat forever is an impossible thing with bitcoin