Will Bitcoin Usage Reduce Demand Of Fiat?

[Superzpay]

Yes the demand of fiat will reduce and with that an idea came to my mind that if the demand will reduce then maybe the value of fiat will also reduce. At that time there will occur something strange. I think people will like to depend totally on bitcoin at that time.

i think because of this, people will hold their bitcoin until they see the good price for them to sell their bitcoin and yes the fiat is like useless but fiat is still needed by us because we still use fiat in all of real life to buy something. i don't think fiat will reduce maybe a little bit reduce because there are many people still using fiat depend of people using bitcoin.

relating to the users of bitcoin the fiat users are more but that is not what will be in the future as in the future people will like to adopt the payment system of bitcoin whenever they will know about bitcoin and with the passage of time you will see the users of bitcoin will be more than the users of fiat.

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[Rooster101]

If people start accepting bitcoins as currency in our country it might happen otherwise fiat will always rule the market .we should make it more popularise it throughh these and make them understand that bitcoins are better than fiat .

Fiat will still rule the market unless technology is widely used even in the farthest corner of every country.Fia currencyt is readily available to everyone while bitcoin exist only in the internet and you need to go online first before you can use the virtual currency.

[Juggy777]

Is it correct if more people start to use Bitcoin than they will use less fiat currency than demand of fiat currency will reduce and at the same time Bitcoin value will be growing?

Not really Bitcoin and fiat both hold their importance in equal ways. Many people use Bitcoin and then convert it to Fiat to use it for daily working. Not all countries and places is Bitcoins used. So no I don't see that it will come to a end any time soon. Bitcoin and Fiat are two sides of the coin both are needed, cause if Bitcoins are in over demand caous would take place. Hence I feel both should be kept in one's wallet not only one that is either Bitcoin or Fiat.

[novemberwoah]

I think indirectly if many are using bitcoin will definitely reduce the use of fiat currencies. Because in my opinion, bitcoin is an alternative to fiat currency, so if bitcoin widely used it will definitely reduce the use of fiat currencies. But not to substitute because fiat currencies will continue to be used, bitcoin as the only alternative.

[GMPoison]

I think indirectly if many are using bitcoin will definitely reduce the use of fiat currencies. Because in my opinion, bitcoin is an alternative to fiat currency, so if bitcoin widely used it will definitely reduce the use of fiat currencies. But not to substitute because fiat currencies will continue to be used, bitcoin as the only alternative.

Only the alternative for now 

I agree with you though, the more people use bitcoin and the more that businesses accept bitcoin, the fewer people will use fiat.

[talkbitcoin]

the demand for fiat will always exist as long as we are living in a country with a government and majority of its citizens using fiat. and besides the only place that i have been seeing people talk shit about fiat and banks is here and even those who do, are using both fiat and banks with open arms. so there really is no way to see the demand for fiat be reduced at all.

[novemberwoah]

I think indirectly if many are using bitcoin will definitely reduce the use of fiat currencies. Because in my opinion, bitcoin is an alternative to fiat currency, so if bitcoin widely used it will definitely reduce the use of fiat currencies. But not to substitute because fiat currencies will continue to be used, bitcoin as the only alternative.

Only the alternative for now 

I agree with you though, the more people use bitcoin and the more that businesses accept bitcoin, the fewer people will use fiat.

Yes indirectly use fiat will be replaced and it certainly is. I think not only now, at any time until bitcoin will be an alternative to fiat.
Because fiat may be used at any time until the function is going to be replaced by bitcoin as a main currency.

[slapper]

Indeed. Look at me, I can be the most lively example. I used to buy many things online buy my Paypal and perfect money and send money oversea by paypal. Since the Bitcoin was created, I have converted my paypal into Bitcoin and I find it is more useful and contains many advantages than Fiat. Transactions are very fast and convenient. Well, the more people use Bitcoin, the less demand of Fiat

[SvenBomvolen]

   How many bitcoins is there now in this moment? Of course it will reduce demand, not significantly, fiat is everywhere around and bitcoin is only a little part of all that space. 
   With the time bitcoin can take a little by little and to make this part much bigger, but that depends from many circumstances. For now usage of bitcoin is probably less then 1 % of total money in the world. Give it a more time, like 10 or 20 years.

[Carlsen]

   How many bitcoins is there now in this moment? Of course it will reduce demand, not significantly, fiat is everywhere around and bitcoin is only a little part of all that space. 
   With the time bitcoin can take a little by little and to make this part much bigger, but that depends from many circumstances. For now usage of bitcoin is probably less then 1 % of total money in the world. Give it a more time, like 10 or 20 years.

I think as well that the demand for fiat goes down a bit with bitcoin. But the percentege of bitcoin from all the money in the world is way-way-way less than 1%
The national debts of the US alone are at about $14.3 trillion dollars at the moment. All bitcoins in the world are worth only about 14 billion dollars.
That means bitcoin could only cover 0.1% of the US national debts.
I think this shows good how small bitcoin still is in the world. And that there are really big chances for bitcoin to grow incredibly in the future.

[danherbias07]

Is it correct if more people start to use Bitcoin than they will use less fiat currency than demand of fiat currency will reduce and at the same time Bitcoin value will be growing?

It is correct. Even now it is happening because of credit cards. But this are for people who can afford it. So it just lessens the usage of fiat.
With the growth you are correct too. More people using bitcoin means more people might see it too and might consider doing the same thing. We people are somehow thinking to mime others when we see it is convenient for other people.

[ethereumhunter]

If people start accepting bitcoins as currency in our country it might happen otherwise fiat will always rule the market .we should make it more popularise it throughh these and make them understand that bitcoins are better than fiat .

Fiat will still rule the market unless technology is widely used even in the farthest corner of every country.Fia currencyt is readily available to everyone while bitcoin exist only in the internet and you need to go online first before you can use the virtual currency.

fiat is still used by many people from all country and they are trust with fiat, only a few people that know bitcoin and use bitcoin, while in future i think the more people will use bitcoin and still using fiat as their payment in offline store. unless bitcoin is available in offline store so people will have option with the payment and maybe because of this, bitcoin usage will reduce demand of fiat.

[nara1892]

Is it correct if more people start to use Bitcoin than they will use less fiat currency than demand of fiat currency will reduce and at the same time Bitcoin value will be growing?

it is not right. even there is more demand for bitcoin, it does not mean people are going to change all their fiat into bitcoin. I think bitcoin is just for their invesment.

besides that fiat is legal currency in the world, so it will not be easy to change fiat totally even in a country that accepts bitcoin because they still use fiat as the main currency

[GMPoison]

Is it correct if more people start to use Bitcoin than they will use less fiat currency than demand of fiat currency will reduce and at the same time Bitcoin value will be growing?

it is not right. even there is more demand for bitcoin, it does not mean people are going to change all their fiat into bitcoin. I think bitcoin is just for their invesment.

besides that fiat is legal currency in the world, so it will not be easy to change fiat totally even in a country that accepts bitcoin because they still use fiat as the main currency

Of course it will not be easy, but I think one day it may be possible. People are using bitcoin now for investments but slowly over time I think the scale will start tipping, more and more merchants and businesses will start accepting it, and more and more people will start using it over fiat.

[bitbob82]

Is it correct if more people start to use Bitcoin than they will use less fiat currency than demand of fiat currency will reduce and at the same time Bitcoin value will be growing?

it is not right. even there is more demand for bitcoin, it does not mean people are going to change all their fiat into bitcoin. I think bitcoin is just for their invesment.

besides that fiat is legal currency in the world, so it will not be easy to change fiat totally even in a country that accepts bitcoin because they still use fiat as the main currency

Of course it will not be easy, but I think one day it may be possible. People are using bitcoin now for investments but slowly over time I think the scale will start tipping, more and more merchants and businesses will start accepting it, and more and more people will start using it over fiat.

i don't think so to me i think there is not such a big impact of bitcoin on fiat currency because most of the people are using bitcoin as investment and a little number of people are using it as currency.

[SvenBomvolen]

   How many bitcoins is there now in this moment? Of course it will reduce demand, not significantly, fiat is everywhere around and bitcoin is only a little part of all that space. 
   With the time bitcoin can take a little by little and to make this part much bigger, but that depends from many circumstances. For now usage of bitcoin is probably less then 1 % of total money in the world. Give it a more time, like 10 or 20 years.

I think as well that the demand for fiat goes down a bit with bitcoin. But the percentege of bitcoin from all the money in the world is way-way-way less than 1%
The national debts of the US alone are at about $14.3 trillion dollars at the moment. All bitcoins in the world are worth only about 14 billion dollars.
That means bitcoin could only cover 0.1% of the US national debts.
I think this shows good how small bitcoin still is in the world. And that there are really big chances for bitcoin to grow incredibly in the future.

   Yes, good comparison, and you just mentioned 1 country debt and where are other countries, companies, corporations. Bitcoin is really small when we consider everything, also like you said this shows how much bitcoin can rise in the future,  "can" but will it who knows.
   Dollar, euro, and other currencies will not surrender, we can expect economy war in the future, I see it like that.

[sadiq basha]

Definitely, Bitcoin usage will reduce the demand for fiat and increase the demand for bitcoins which in turn increase the price of bitcoins.That is why many governments fear bitcoins.

[hajimasan]

Possibly no for current generation because people are not familiar with bitcoin as of now. But may be in future the scene will change and people will start using bitcoin but the concept of digital payment had already started and people will better use fiat.

[TastyChillySauce00]

Definitely, Bitcoin usage will reduce the demand for fiat and increase the demand for bitcoins which in turn increase the price of bitcoins.That is why many governments fear bitcoins.

The fact that most of bitcoiners will end up converting their bitcoin to fiat means the demands for the fiat itself still remain the same and there's nothing for the government to be afraid of about bitcoin.
And as you know that bitcoin's value always determined based on fiat currency such as USD and that indirectly reflects that bitcoin still need fiat

[digaran]

Seems like no one knows when bitcoin truly would be recognized as what it really is, and that's around 80 up to 100 years from now. Please stop joking can't laugh no MOAR! demand reduced comparing the fiat market is something between $5000B and $650,000B against $15B worth of entire bitcoin ecosystem?
Bitcoin wasn't really meant for our time period and I think that's the downside of open sourcing new technologies without properly studying every aspects.