Could Bitcoin ever replace conventional money?

[antagonist]

Could Bitcoin ever replace conventional money?

in some day venesuela gvernment release coin tat they call Petro . obvious to me if goes well this coin become important even more than nation currency that they use
for this one i say it that this will happen in future
in future i see it that normal monies collapse and no longer main player in world ,, when petro coin release whole world ready to invest not just venesuala ppls , whole world immediate will begin to buy this thing and we will all see big big time monies create there
this is what alls of us here wait for i think

glad thing for me i see it happening already , vensuela only first country next we will see many country follow like this

[LightNestling]

I think it could not happen in the near future or in our generation I think. Fiat money is still essential to our daily living and bitcoin has still a long way to go to replace that.

[elfoldo]

Most likely, cash will be replaced by some other cryptocurrency, but not replaced by bitcoin, as the currency is quite large.

[emondot]

I don't think so because many other developing countries still use their conventional money as one of the means of payment or transactions that are in use every day and governments in many countries many have not agreed even against the existence of bitcoin as a means of payment.

[Renai0925]

No, I don't think it will replace the conventional money, and never will. Both cryptocurrency and fiat money have their advantage and disadvantages, one example and the main concern is accessing your bitcoins with a reliable internet connection.

[ignacio0404]

  I don't think so. Bitcoin is only valuable because its high currencies converts to high amount of money. But the conventional, local, or the natural money we have daily, can't be replaced by bitcoin because of its own technical responsibilities.

[BTCwin1]

Could Bitcoin ever replace conventional money?

I think bitcoin will always replace fiat money, because the cryptocurrency is the future, and I think it is entirely possible to replace it.

[Ariess]

Could Bitcoin ever replace conventional money?

I don't think, any conventional money will continue to be used to do every transaction in real life. but if to to the absolute for the virtual currency that is recognized by all countries in internet transactions. I am optimistic it will happen in the future.

[Isaacck1]

I think replace is not the right term for it. For now, bitcoin can not replace money since a big percentage of the population use conventional money. In my opinion, bitcoin's existence is for filling the holes and the gaps that fiat leaves. It was made so money transactions could be perfect for us people. But replacing it is a different story.

[kasansa]

Could Bitcoin ever replace conventional money?

Bitcoin could never replace conventional money since bitcoin could only be used in Internet and Internet is not available worldwide and most governments don't accept bitcoin as a legal tender.So,bitcoin could only remain as a secondary option.

[genology]

It would be great if this happens but as you can see, some government bodies are rejecting Bitcoin. It is because it is not ruled by them and it lacks security. Maybe if Bitcoin will be supported by the government by making new rules about it, It can happen.

[bitcoinskyrocket09]

Could Bitcoin ever replace conventional money?

No it wont,knowing the fact that most governments on entire globe is still have negative impressions about bitcoin and making it as a conventional money doesn't fit on the criteria since its just a digital currency and making a physical would not make any sense considering the entire supply of 21 Million BTC would not  really be sufficient on a particular place or globally.

I think its no because the government in many country have a negative thoughts about bitcoin because no one ever know how bitcoin start and who created it despite the fact that bitcoin have much higher than the other money currency . And the other reason why bitcoin will not replace conventional money is the security of your account because there have a people that can hack your account easily but when there someone who fix this and the government see the good side of bitcoin i think it have a possibility to replace conventional money

[tanjiran]

if bitcoin replaces conventional money in circulation at this time then bitcoin price should be more stable and bitcoin availability must be much because if bitcoin bit availability then very impossible to replace conventional currency.

After all, why should each other replace? Would not it be more effective if fiat and cryptocurrency support each other?
Cryptocurrency is suitable for payment if transaction fee issue and confirmation time can be fixed. Also cryptocurrency is highly dependent on internet network, so fiat is still needed for transactions.

[The_prodigy]

Could Bitcoin ever replace conventional money?

It would be a long ways off before bitcoin could ever teplace conventional money. Especially in an age where everthing is digitized a lot of people would want to hold on to the conventional method just because of concern for financial security.

[osasshem]

Could Bitcoin ever replace conventional money?

No, that can never work neither take place. The total population of the world today has grown so high that the total supply of bitcoin cannot meet up a certain part/country in the world, not to talk of the entire universe. Most governments still look at bitcoin as an illegal currency used for fraudulence act and all kinds of evil doings.

[yibl]

I think this is impossible. The traditional currency already has many years of history. With the development of the times, bitcoin is only emerging digital money. If you want to replace the traditional currency, you need state support.

[ezcrigbagk]

No, I think that it can't. It could be used along with traditional money but it can't entirely replace it. Unfortunately bitcoin has to many issues, weeknesses and characteristics that don't allow it to be fully used and implemented in traditional financial system. Volatility is just one of them.

I also think so, though Bitcoin is a completely new model. But waiting for everyone to accept it is still a long process.

[bitfocus]

I guess every country will start using Govt. issued Cryptos in a couple of decades and Bitcoin will remain the peoples favorite around the world with some bans and prohibitions from governments as governments and central banks can not control Bitcoin.

[balefires03]

It never be happen..
Bitcoin cant and won't replace conventional money...

The prices on bitcoin , nne have a capacibillity to buy with bitcoin.
Eventhough just 0,01 %  .
Bitcoin have a high price in another currency, especially in poor countries.

[xiaohao111]

I don't think this is possible, though the development trend of the currency is very good now, but the traditional cash now get the use of the world, for a long time the currency shake the position of it, and now many countries do not recognize COINS