is bitcoin can be a fiat money?

[xuan87]

No, bitcoin will never be a fiat money, it will be a disaster if bitcoin become fiat, imagine if all user hold the bitcoin, then it will be inflation every where, making bitcoin into fiat money is going to destroy the country economy

[Capradina]

No, bitcoin will never be a fiat money, it will be a disaster if bitcoin become fiat, imagine if all user hold the bitcoin, then it will be inflation every where, making bitcoin into fiat money is going to destroy the country economy

Hmzz, I do not think that it would be bad. But it is possible that each country is definitely their currencies decline, but it will not make excessive inflation. And I think the Bank will use the bitcoin to avoid it and make the system more robust and powerful

[Denker]

I think it is impossible. Because bitcoin dont have physical appearrance not like fiat it has physical appearance,
If bitcoin will fiat all of the users need to buy physical wallet so that they can use it so it is hassle to many people not like in fiat if you dont have or you have wallet you can use your money.

I hope you are aware of that 95% of global fiat money is held in digital form!!!
Fiat money is centrally issued, with an infinite number in supply as banks can create more of it by printing or giving out credits out of thin air.This are the most important aspects you have to know.If digital or not does not play any role.
For instance when the US FED created FEdcoin it is still fiat money!!

[Pursuer]

i think bitcoin has a potential to become a fiat money. because a lot of news regarding bitcoin is government will support the bitcoin. and as per description of fiat money. once it legalized by government, theres a possibility to be a fiat money. i cant wait to see using bitcoin coins to buy some goods in stores and market. and also a physical bank of bitcoins that we can withdraw and deposit.

heres the link of btc news according to coindesk: http://www.coindesk.com/presidential-candidate-hillary-clinton-pledges-support-blockchain-tech/

if by becoming fiat money you mean, becoming popular and more used day to day then I agree. but your reasoning is not quite right because there has been no support from the government part towards bitcoin.

although I haven't heard the complete Hilary Clinton's speech about this but from what I have heard so far an based on my experience they are always supporting blockchain technology as the article title is also saying this. which has nothing to do with bitcoin but only with its technology.

[jhenfelipe]

Fiat means an official order given by someone who has power : an order that must be followed (Merriam-Webster). So in my opinion, if bitcoin will be legalized by the government and enforce the use of bitcoin to people, it might happen. However, as of today, since bitcoin is not that really known by most people, I really think that it would take so much time before it will be close as possible. Yes, maybe there are some countries who are starting to support bitcoin/accept the use of it as "money", but it's just support and acceptance, there is still no enforcement to use it.

[Soros Shorts]

No matter how much Bitcoin is legalized by a government it cannot by definition be a fiat currency. Same thing with gold. A government may force it's citizens to transact in gold (valued by weight) and this does not make gold a fiat currency. It gets complicated if the government starts issuing gold coins denominated in values that do not correspond to the value of the weight in gold, but that is a completely different story.

[Jeremycoin]

It's totally a different thing, it just like human and animal. Can human be an animal?
But, if what you mean is (can Bitcoin be use just like fiat money?) Then the answer is yes it is, because it is definitely could be done.

[pearnapple]

how that would be even possible? in my opinion it is definitely impossible and bitcoin will never be fiat because those two are different things that just cannot be the same

[davis196]

i think bitcoin has a potential to become a fiat money. because a lot of news regarding bitcoin is government will support the bitcoin. and as per description of fiat money. once it legalized by government, theres a possibility to be a fiat money. i cant wait to see using bitcoin coins to buy some goods in stores and market. and also a physical bank of bitcoins that we can withdraw and deposit.


heres the link of btc news according to coindesk: http://www.coindesk.com/presidential-candidate-hillary-clinton-pledges-support-blockchain-tech/

I`m not that optimistic.

Bitcoin is strong because it`s an alternative to fiat money.If bitcoins becomes the same as fiat money,

what`s the point?It will lose all the advantages that make this cryptocurrency  valuable .

[Omegasun]

i think bitcoin has a potential to become a fiat money. because a lot of news regarding bitcoin is government will support the bitcoin. and as per description of fiat money. once it legalized by government, theres a possibility to be a fiat money. i cant wait to see using bitcoin coins to buy some goods in stores and market. and also a physical bank of bitcoins that we can withdraw and deposit.


heres the link of btc news according to coindesk: http://www.coindesk.com/presidential-candidate-hillary-clinton-pledges-support-blockchain-tech/

I`m not that optimistic.

Bitcoin is strong because it`s an alternative to fiat money.If bitcoins becomes the same as fiat money,

what`s the point?It will lose all the advantages that make this cryptocurrency  valuable .

I get your point. The anonymity feature of bitcoin will be gone. But think of this, imagine if btc become fiat money. You can use it as physical money that can buy a commodity in stores unlike bitcoin now. You can buy commodity in online  only. What do you think will happen if the blockchain down or being hacked? Do you think bitcoin will have a value? Being a fiat money is a stable.

[Jimbola3]

i think bitcoin has a potential to become a fiat money. because a lot of news regarding bitcoin is government will support the bitcoin. and as per description of fiat money. once it legalized by government, theres a possibility to be a fiat money. i cant wait to see using bitcoin coins to buy some goods in stores and market. and also a physical bank of bitcoins that we can withdraw and deposit.


heres the link of btc news according to coindesk: http://www.coindesk.com/presidential-candidate-hillary-clinton-pledges-support-blockchain-tech/

I`m not that optimistic.

Bitcoin is strong because it`s an alternative to fiat money.If bitcoins becomes the same as fiat money,

what`s the point?It will lose all the advantages that make this cryptocurrency  valuable .

yeah i agree with you and i think its not possible for bitcoin to become fiat as its the crypptocurrency which means digital and how can it be in metal coins as it will be worthless i think ! and if it also become a fiat they with what material will it be made ? metal ? gold ? silver or paper ?? 

[avikz]

It will never happen. Bit doesn't have the characteristics to become a fiat money. No one owns bitcoin. It will be possible only if a country or a regulatory authority like world bank or IMF claims its ownership. The chances are very very very low.

So I see that bitcoin will remain an alternate currency and people will continue using it like that way only, even after 5 years. 

[JeffBrad12]

i think bitcoin has a potential to become a fiat money. because a lot of news regarding bitcoin is government will support the bitcoin. and as per description of fiat money. once it legalized by government, theres a possibility to be a fiat money. i cant wait to see using bitcoin coins to buy some goods in stores and market. and also a physical bank of bitcoins that we can withdraw and deposit.


heres the link of btc news according to coindesk: http://www.coindesk.com/presidential-candidate-hillary-clinton-pledges-support-blockchain-tech/

But in my minds your topic it's not sync with your source. looking for the Hilary Clinton's statement.

"We must position American innovators to lead the world in the next generation of technology revolutions – from autonomous vehicles to machine learning to public service blockchain applications – and we must defend universal access to the global, digital marketplace of ideas."


It's just about the technology of blockchain will be applied to the public sector.

[RodeoX]

No.
Look at the definition of fiat for why:

Fiat money is a currency established as money by government regulation or law.

https://en.wikipedia.org/wiki/Fiat_money

[PsursV]

I think yes and there is no doubt about this. I think we will be able in future to you bitcoin as a fiat currency. but for this we need a continuous struggle to make it a fiat currency having same value in all over the world.

[thejaytiesto]

I don't think so, we are going to be seeing governments opposing to bitcoin because they cannot control it. So it's either they oppose it or they stay totally neutral to it. But they will not give up to the control of the currency, and they cannot do this with bitcoin.

[RodeoX]

I think yes and there is no doubt about this. I think we will be able in future to you bitcoin as a fiat currency. but for this we need a continuous struggle to make it a fiat currency having same value in all over the world.

So what government created bitcoin? That is what fiat currency is.  IT CAN NOT BE FIAT for the same reason it can not be a camel. it does not meet the definition of either.

[dezoel]

I don't think so, we are going to be seeing governments opposing to bitcoin because they cannot control it. So it's either they oppose it or they stay totally neutral to it. But they will not give up to the control of the currency, and they cannot do this with bitcoin.

Yeah bitcoin can never be a fiat money and it can never replace it too, as each and every country have their own currency and they will only support it .

[Superways]

Fiat mean paper money and as bitcoin is invented for the use of internet and other digital system etc, so it will be a virtual currency, I hope that government will accept it as to use for their state affairs but still it will be called as virtual currency.

[MingLee]

Bitcoin cannot be a fiat partially because it currently isn't fiat for one, and if it was fiat the value would be destroyed because there would be far, far more than just the original 21m Bitcoins that exist and no-one would want to hold Bitcoin anymore. The limited supply is a very big part of the value of Bitcoin, and thus it all matters much more than you'd think.