Could Bitcoin ever replace conventional money?

[Sithara007]

Could Bitcoin ever replace conventional money?

It don't think it can be possible because bitcoin is just supposed to be an alternate for our traditional medium of exchamge and in my opinion the government won't tolerate it to become a generally used money or currency or to totally replace fiat because they can not be able to control its production as well as its circulations .

The purpose of Bitcoin is different from that of fiat currency. But even then, the government authorities can be hostile to the usage of Bitcoin, due to the high anonymity which it provides to the user.

[Vikingr]

Could Bitcoin ever replace conventional money?

It don't think it can be possible because bitcoin is just supposed to be an alternate for our traditional medium of exchamge and in my opinion the government won't tolerate it to become a generally used money or currency or to totally replace fiat because they can not be able to control its production as well as its circulations .

The purpose of Bitcoin is different from that of fiat currency. But even then, the government authorities can be hostile to the usage of Bitcoin, due to the high anonymity which it provides to the user.

I do not think that the purpose of bitcoin is different from fiat but bitcoin is the advanced form of fiat currency and bitcoin has the features of money which is in the fiat form and along with that bitcoin also brought some new and advanced features to make the financial system more stronger and effective.

[XbladeX]

Fiat money its purpose is to lose value over time while BTC is to gain value.
Weak money are always replacing strong money people hoard strong money while they use weak one.
So for saving people will use BTC for buy/sell they will use fiat : )

[Pab]

It cant any country needs his own currency,it is root of independence,imagine your country currency in hands of chinise miners,look euro currency and what is going now with Greece,Italy,Spain etc

[whizter]

Could Bitcoin ever replace conventional money?

It don't think it can be possible because bitcoin is just supposed to be an alternate for our traditional medium of exchamge and in my opinion the government won't tolerate it to become a generally used money or currency or to totally replace fiat because they can not be able to control its production as well as its circulations .

The purpose of Bitcoin is different from that of fiat currency. But even then, the government authorities can be hostile to the usage of Bitcoin, due to the high anonymity which it provides to the user.

I do not think that the purpose of bitcoin is different from fiat but bitcoin is the advanced form of fiat currency and bitcoin has the features of money which is in the fiat form and along with that bitcoin also brought some new and advanced features to make the financial system more stronger and effective.

it is also making the process very simple. people can store bitcoin in their online wallet, for that they do not need to visit a bank, but can do that with in second even from their bedroom.. we can spend bitcoin directly from our wallet so easily. there is no restriction to withdraw or invest your bitcoin anywhere depending on you. but you can do that aly anu time.

[Paul Pogba]

I think for the near future could not be, because the Government will fully to protect conventional curreny as this issue concerns the security of the State.

[JimmieA]

Using bitcoin or conventional currency is only the way to choose a payment method for trading or investing. So bitcoin will not replace any other currency. And that's not the bitcoin's purpose. The purpose of bitcoin is known by many people and accepted by the government.

[ekoawandi]

Could Bitcoin ever replace conventional money?

No, i think it will not be. It can be used with local money but all of it can not be entirely replaced. So it is not possible to be fully implemented in the financial system.

[Wipro]

Using bitcoin or conventional currency is only the way to choose a payment method for trading or investing. So bitcoin will not replace any other currency. And that's not the bitcoin's purpose. The purpose of bitcoin is known by many people and accepted by the government.

I think you have to learn more about bitcoin. Purpose not known by the people or accept as legal money by Government. Main purposes of bitcoin is a digital money system which can act as payment gateway internationally with the less amount fees to get processed.
I sure the bitcoin will replace the USD's place in future. You can use bitcoin any location.

[Meowth05]

Could Bitcoin ever replace conventional money?

It don't think it can be possible because bitcoin is just supposed to be an alternate for our traditional medium of exchamge and in my opinion the government won't tolerate it to become a generally used money or currency or to totally replace fiat because they can not be able to control its production as well as its circulations .

We have the same thoughts. I guess bitcoin cannot replace fiat. You should know that bitcoin is just an alternate mode of payment and yet government will not allow that happen because they cannot manipulate it.

[DomainReseller]

That's a point of discussion till now, but I think it can, the same way gold coins and the like were replaced with the more convenient paper money. and particularly now that paper money is barely used and the major impact on CC and Banks which BTC could easily fill even more than cash, Some TX's can be hard to replace like paying a taxi cash or paying for gas but it still replace majority of conventional payment methods use.

[Takuul]

I don't really know, I don't think it can replace banks and the conventional banking system but it can very well stay with it, for example with banks having bitcoin accounts with bitcoin interest, however seeing everything in bitcoin might be too much, this is just a guess though.

[SingAlong]

Could Bitcoin ever replace conventional money?

It don't think it can be possible because bitcoin is just supposed to be an alternate for our traditional medium of exchamge and in my opinion the government won't tolerate it to become a generally used money or currency or to totally replace fiat because they can not be able to control its production as well as its circulations .

The purpose of Bitcoin is different from that of fiat currency. But even then, the government authorities can be hostile to the usage of Bitcoin, due to the high anonymity which it provides to the user.

We have the same thoughts. I guess bitcoin cannot replace fiat. You should know that bitcoin is just an alternate mode of payment and yet government will not allow that happen because they cannot manipulate it.

Let us just say "regulate" than "manipulate." Bitcoin can't replace the fiat system because of  this together with other factors like volatility issues. It is hard to be used in daily transactions since the price of bitcoin is unstable and would jump high or go low. We can say that Bitcoin and fiat would work together which is ver good to everyone and for the better sake for everyone rather than making the other disappear or be replaced and also it is a much probable to think that way and logical.

[TheUltraElite]

That's a point of discussion till now, but I think it can, the same way gold coins and the like were replaced with the more convenient paper money. and particularly now that paper money is barely used and the major impact on CC and Banks which BTC could easily fill even more than cash, Some TX's can be hard to replace like paying a taxi cash or paying for gas but it still replace majority of conventional payment methods use.

Few important things that needs to be covered before bitcoin can be used as a replacement to fiat is - higher popularity in maximum countries by the next few decades. Seamless transactions without any hassles - something where fiat still rules over bitcoin. The huge network congestion that happen and the network fees. Fiat practically is much better to be used in places where bitcoin is not even talked about.

[DoublerHunter]

I don't really know, I don't think it can replace banks and the conventional banking system but it can very well stay with it, for example with banks having bitcoin accounts with bitcoin interest, however seeing everything in bitcoin might be too much, this is just a guess though.

Banks will never accept bitcoin users to deposit their bitcoins there because it is not that acceptable for them because bitcoin is volatile and it will be more profitable to hold bitcoin to the banks unlike the fiat that has very low interest and return. So i think bank will not allow that to happen unless they will have the right to control the deposited amounts of bitcoin for their own purposes.

[mudboy93]

Personally I think it would happen but sometime far in the future, it unquestionably has advantages but I don't think people are ready for something as bitcoin right now, of course that would just be temperature and they will get used to it in the future.

[AlexGrov]

I think not, but there is a chance that his will affect the exchange rate of major currencies

[linkme]

No, it will not. We all know that Bitcoin has become popular recently and many countries all over the world has been accepting Bitcoin as their legal currency and Bitcoin users are now protected by some governments but you know, Bitcoin is an electronic currency, it need the internet to do its works so if Bitcoin replace conventional money, what would happen when for some reason that the Internet is down? Or something worser happens? Just think about it, you will understand.

[Taki]

No I don't think it could ever replace conventional money, it has been there for how many years. And I don't think the government would allow that too.

We are not talking about tomorrow. I believe that digital currency will replace conventional money indeed. I am actually for the idea of micro chip that will be installed in human's body and which will hold all the information about the person and all his money. I'm sure it's our future.

[TheUltraElite]

No I don't think it could ever replace conventional money, it has been there for how many years. And I don't think the government would allow that too.

We are not talking about tomorrow. I believe that digital currency will replace conventional money indeed. I am actually for the idea of micro chip that will be installed in human's body and which will hold all the information about the person and all his money. I'm sure it's our future.

So you are thinking someone to control all human beings as well. That is against the laws of nature. Now dont start making up stories from popular culture and start relateing them to bitcoin due to some false assumptions which all of us know that they are not true. Such humans are not normal they are robots and dont deserve to live since their identity is controlled by someone else. Just like fiat is controlled by the government.