Could Bitcoin ever replace conventional money?

[itot]

Taking over fiat money is just not going to
happen. You'd essentially need to overthrow
every government in the world to remove fiat
money.
Bitcoin can provide solutions to problems which
cannot be solved with fiat money. That in itself is
very powerful. Did McDonald's need to completely
take over food? Did vacuums need to oust the
broom?

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[gilangIDR]

Could Bitcoin ever replace conventional money?

Of course, the use of bitcoin is intended for use by everyone in the world. But today conventional money is still needed by many people, not many people who can receive internet access properly. So when all the facilities have been met it could be bitcoin into the majority of the currency in the world. Conventional currencies still exist and limited distribution.

[BeGoods]

Taking over fiat money is just not going to
happen. You'd essentially need to overthrow
every government in the world to remove fiat
money.
Bitcoin can provide solutions to problems which
cannot be solved with fiat money. That in itself is
very powerful. Did McDonald's need to completely
take over food? Did vacuums need to oust the
broom?

And that is impossible when the government later eliminates the fiat simply because bitcoin has more benefits than fiat? And I think that opinion is still wrong. I myself think that fiat is better than bitcoin. After all the government will continue to maintain the fiat

[Omegasun]

Taking over fiat money is just not going to
happen. You'd essentially need to overthrow
every government in the world to remove fiat
money.
Bitcoin can provide solutions to problems which
cannot be solved with fiat money. That in itself is
very powerful. Did McDonald's need to completely
take over food? Did vacuums need to oust the
broom?

And that is impossible when the government later eliminates the fiat simply because bitcoin has more benefits than fiat? And I think that opinion is still wrong. I myself think that fiat is better than bitcoin. After all the government will continue to maintain the fiat

Eliminating fiat may not be possible even btc have lots to offer and can make our savings x3 o 4 in a short span of time, fiat will always be in use and will always reproduced by the government since it's one of the primary use of the people in payment trasactions and might affect governments economy.

[senin]

I fully agree with those who believe that bitcoin can never completely replace paper money. It is unlikely that 100 percent of the world's population will ever have access to the Internet and the necessary knowledge in the field of crypto-currency. In addition, small transactions financially are unprofitable in the digital currency, since for the transaction it is necessary to pay commissions that will be higher than the cost of the purchase itself.

[ajmapalo22]

No I don't think so.bitcoin can never replace conventional money because it has no definite value it flactuates from time to time also bitcoin is not govern by law which taxes cannot be implemented another is that not everyone can have yhe capability to access internet which is the number one requirement of crypto currency maybe bitcoin will remain a sort of paperless money that can be used to a lot of transactions but not all.

[Aur3]

No. The equilibrium is gone when that happens. The world needs cash. The world also needs crypto money such as bitcoin. The biggest advantage of bitcoin is its ability to transfer data like a bolt. The exchange is fast and is safer compared to cash and credit card. Blockchain supports cryptocurrency; therefore, the incidents of corruption and hacking are minimal.

Start-up companies will have an advantage in using cryptocurrency. Whether the team makes use of bitcoin or ethereum, it doesn't matter. These companies are taking a risk to step further. Have you heard of IMMLA? I will use it as an example.

IMMLA is one of the various companies in ICO. The team is conducting a pre-ICO as we speak, details here: goo.gl/qeK3mQ if you want to invest. My point here is IMMLA is taking a chance to change the traditional shipping industry. These days, this type of business is filled with delays and damaged goods. These problems have to end using a cyptocurrency. The use of a digital money can reduce, if not stop, the incident of charging additional and hidden fees, which annoys all consumers and B2B companies. 

[romero121]

Bitcoin replacing conventional money is simply a tedious factor, because bitcoin hasn't gained more popularity as its very young compared to the conventional currency. Replacing conventional currency might happen in the future if bitcoin survive long.

[cramcram21]

Could Bitcoin ever replace conventional money?

I don't really think that it would ever replace conventional money,
Firs it is decentralized and the government would surely wouldn't allow it to happen.

[novaprime]

Could Bitcoin ever replace conventional money?

I don't really think that it would ever replace conventional money,
Firs it is decentralized and the government would surely wouldn't allow it to happen.

I don't think so, if Bitcoin the pioneer in industrial development, then surely people would turn to Bitcoin more. For me, Bitcoin will be legalized in 30 years and people will use Bitcoin instead of cash

[warrior333]

Government do you see in bitcoin a threat to the economy of countries so I do not believe that bitcoin will someday be recognized as official means of payment. Therefore bitcoins and Fiat will always exist separately from each other.

[Gabrieelle]

Both of it has different characteristics one is digital and the other is physical money so I guess no. I think when it comes to our everyday lives using the money is more efficient than using bitcoin. But when it comes to transactions online bitcoin is good. Each has their own advantages and disadvantages it really depends on us how we see it.

[gribble]

Bitcoin replacing conventional money is simply a tedious factor, because bitcoin hasn't gained more popularity as its very young compared to the conventional currency. Replacing conventional currency might happen in the future if bitcoin survive long.

Yes bitcoins is still new in the world, there are no many people who know, adopt bitcoins on their real life business and transaction. The other factors bitcoins is still not replace conventional money because bitcoins has fees sending (bitcoin's scaling problem right now) should we don't needs the fees for do the payment use bitcoins and we don't see it on daily transactions in real life with conventional money.

[ethtraderdude]

is there an estimate of how much transactions happen globally in a day somewhere (all transactions including cash-based ones)? my intuition is that with it'd be a huge number many orders of magnitude greater than the currency capacity

but as some of you mentioned, it seems bringing internet connection to every person needs to first happen, and that alone seems quite far away

[andrew24p]

deflationary currency is a really bad idea from a current economic perspective. We are much better off with national fiat currencies and then using bitcoin as a store of value/ transitory currency for other uses.

[tinhyeumaunang]

Could Bitcoin ever replace conventional money?

I think not, because money is usually easier to use than bitcoin. Moreover, there are still many people yet to come bitcoin.The use of bitcoin depends much on the internet, so this is a big limitation. As if losing the internet you will not be able to trade?

[WEB slicer]

I don't think it will happen. Even if Btc will well-known and being used but it can't replace conventional money. It is possible on some payments for example electron payment. But It is not believeable to cash out or allow circulation. Because if it happen then world market, world economy will become to mixed situation. I think btc will stay as online coin.

[GoodLuck2]

deflationary currency is a really bad idea from a current economic perspective. We are much better off with national fiat currencies and then using bitcoin as a store of value/ transitory currency for other uses.

I don’t think so there is any big risk in using bitcoins as national or international currency. They are far better than conventional currencies i.e. easy to carry, transact. Above all they are not controlled by the respective state government which gives you complete control over your money.

[Webetcoins]

Could Bitcoin ever replace conventional money?

I think not, because money is usually easier to use than bitcoin. Moreover, there are still many people yet to come bitcoin.The use of bitcoin depends much on the internet, so this is a big limitation. As if losing the internet you will not be able to trade?

yeah it could be true to some extent bitcoin is being famous from a few years and it has increased a lot today the price of the bitcoin increased a lot but the other truth is also there that the bitcoin currency is not so famous as the other money but as the price of the bitcoin is increasing very rapidly so it will be more worthy than the money in a very short time

[AbdTstpr]

No, because bitcoin isn't prepared to be used as conventional money. Bitcoin transactions take too much time to be approved and in daily life we need to confirm our transactions instantly, otherwise it's inviable for us.
Bitcoin isn't being used to pay cheap items too, it's a big problem to adopt the currency to replace conventional money.