Bitcoin can not replace fiat

[214missy]

No i think this will not happen in the future so far. It would be more than a surprise..

No, We cannot replace the fiat because many people they dont know about digital transactions.What they know is paper money which they can feel with their hands.In many countries,most people dont even have a bank account and debit card,credit card. Fiat currency would exist, that usage in so many countries.

[hASHmETAL]

It does not matter what is our opinion on this bulletin, as it may be fiat or crypto is in few hands and it takes the way where the master's will is ...

So we are wasting our time and resources as I experienced that Hardwork and Knowledge are waged and only handful of decision makers and rich investors will become more rich. Crypto is not decentralized as we think if we carefully examine!!

[Quonelet]

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.

Bitcoin wasn't designed to be used by 70 year old ghouls. However the newer generation will get this.

Yes, new owners are the younger generation who accept it as well as the bad things it brings. Bitcoins are threatening the survival of Fiat, and many countries are trying to separate it from Fiat, so it does not adversely affect Fiat.

[scanpayasia]

I think it complements each other rather than replacing it.

[hASHmETAL]

Even it can't complements due to lack of trust!!

Faucet's are best experiment !! showing how volatile price is used to exploit the labour.

People have short term memory and the reward at levels are not maintained in downturn of the price volatility.
Which is true and most successful exploitation proved in case of Interest Rate spread of Housing loan.!! across the Interest rate cycles.

So the labour or borrower exploited!! So bitcoin is not solving any problem, just coming in different face value!! if at all if it is successful.

[lagoon88]

At present, I don't think that bitcoin can replace fiat. But after five to ten years things can change.

[goldcoinminer]

I think it complements each other rather than replacing it.

That's correct, bitcoin and fiat are both useful to us since not all people are using only one system, in fact we want a lot of options
as when one is not available we can still continue to transact. That is the mindset of the people because they know that there are not perfect system,
everything has its flaws so that addition could help to ease the transaction.

[Taner]

No doubt, now to pay for anything is more convenient the usual money. When it will be easier to do this with cryptocurrencies it will be a real boom, global monetary revolution.

[metenjean]

Yes true, bitcoin will never replace fiat, this is because the state protects fiat like protecting other state assets, it is strange if we think that bitcoin replaces fiat while many things become bitcoin big job eg problem of the transaction speed.

We have used fiat money for million years. Many people in the world like using fiat money than pay online. Normally, only the rich want to use their card to pay online and transact online. However, the others still use fiat money in daily life. We can deny that these days is days of technology and digital currency but it still the way that we use to earn fiat money.

Actually the state didnt protects the flat currency, flat currencies reserves is basically maintain by gold reserves a country owns. I dont think they will never replace it, it may takes a long time but what did people said about a car replacing a horse cart back in early 1900s. Might take a while but people mostly using credit card and paypal to do transactions now, and i think new generation will always replace the old one. The reason it cant be done now because there is no country can include bitcoin in their economic regulations and mostly used by riches to evade tax. 10-20 years from now and i think money circulation will shift to digital rather than conventional

[Savemore]

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.

Many people are still not prefer to use digital money because they say that fiat money is better to use than cryptocurrency. We don't know what will happen to the future so we can't predict if the cashless society will happen.

[Taner1]

No doubt, now to pay for anything is more convenient the usual money. When it will be easier to do this with cryptocurrencies it will be a real boom, global monetary revolution.

Give my account back.

This Russian guy steal my account (password reuse). Don't believe anything he says.

[twicezeroiszero]

Yes true, bitcoin will never replace fiat, this is because the state protects fiat like protecting other state assets, it is strange if we think that bitcoin replaces fiat while many things become bitcoin big job eg problem of the transaction speed.

We have used fiat money for million years. Many people in the world like using fiat money than pay online. Normally, only the rich want to use their card to pay online and transact online. However, the others still use fiat money in daily life. We can deny that these days is days of technology and digital currency but it still the way that we use to earn fiat money.

Actually the state didnt protects the flat currency, flat currencies reserves is basically maintain by gold reserves a country owns. I dont think they will never replace it, it may takes a long time but what did people said about a car replacing a horse cart back in early 1900s. Might take a while but people mostly using credit card and paypal to do transactions now, and i think new generation will always replace the old one. The reason it cant be done now because there is no country can include bitcoin in their economic regulations and mostly used by riches to evade tax. 10-20 years from now and i think money circulation will shift to digital rather than conventional

We have transfered to use Paypal and credit card instead of paper money, why do we not use digital money (used blockchain technology) in the future too?
With the benefit of this technology, we do not need to fear much problems of everything, because blockchain is 100% transparent.

[munify]

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.

Yes, it's true bitcoin can not replace paper money, because for everyday transactions requires fiat money. But most people use bitcoin as an investment tool, and this is more profitable than keeping it as fiat money.

[twicezeroiszero]

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.

Yes, it's true bitcoin can not replace paper money, because for everyday transactions requires fiat money. But most people use bitcoin as an investment tool, and this is more profitable than keeping it as fiat money.

This is one of the problems make Bitcoin can not become the currency for the world.
We all know the value of currency must to stable with low volatility everyday.
No currency has fluctuation ~20-40% per day like Bitcoin, beside that, Bitcoin can not use without internet.

[Master Third]

I believe that bitcoin can't replace the fiat money. Not all people really have an access about bitcoin, and also bitcoin price is always calculate base on this fiat money not just only bitcoin but all cryptos. So if bitcoin will replace the fiat money then it would be hard for it to calculate its value. And aside from that i also believe that bitcoin is created not to replace the fiat but to become free only under the rule and lousy system of our world under the management of the government.

[Semosuchi Tesongrato]

Why not? Lot of people think that there is a technical problem, but it can be solved just with the diffusion of qrcode: if you have a paperwallet, you can pay and be payed everywhere, without the need of any technology.

[KnightElite]

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.

It depends on the people in our society. If all the people in the society become aware to what is bitcoin, then there is high possibility that the bitcoin can replace the fiat money. If people keep patronizing bitcoin, bitcoin will change the current economic system.

[qtypatuty]

I agree with what you have said. Also, I don't think that the government and the banks will officially accept bitcoin to take over fiat. I think that bitcoin may be useful, and become as valuable as fiat in the future, but I don't think that it will ever replace fiat for the reason that it has been used for so long by the entire population.

[SacriFries11]

It requires a lot of time before it will happen. A lot of people still depend on fiat currency than cryptocurrencies but now some people prefer to use digital currencies than fiat currency to buy things they needed. We can’t tell what happens next to our society and technology is developing and help people what they need. If the government will allow using bitcoin and other cryptocurrencies as another form of currency, I think it’s become easier for people to spend their bitcoin in different fields. Bitcoin will be our future currency.

[donadoni212]

yes I agree with you, it would be very difficult for bitcoin to be used as a relatively small transaction such as buying coffee or buying water.
but there are some altcoins that enable us to use as a means of payment of everyday goods, such as Pundi-X is a platform that will make it easier for you to use cryptocurrency as you buy water in minimarket.
very difficult to replace flat money as a means of payment transactions, because there are still many around the world who do not know bitcoin and do not have decent internet access.