Could Bitcoin ever replace conventional money?

[SneakyRik]

I don't think all our govts can trust an unregulated and decentralized currency. It's just not that easy to do! A lot may think that the govt is bad or has ill intentions for us, but the truth, they also need our taxes to pay for development and govt jobs.

[laravuemaster]

Could Bitcoin ever replace conventional money?

Maybe in the future, Bitcoins price today is really unpredictable and it decrease to 13k dollar again and in that way bitcoin is very profitable. Bitcoin is not legalize in other countries because it can affect their own industry just like what happening on banks today, So it will really take a long time before bitcoin can replace fiat.

[A L I E N]

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.

No, the price of bitcoin is too high and it will simply be inconvenient to use it instead of the usual money. Many sellers do not want to accept it as payment due to high commissions and volatility.

[reighbut2017]

even though Bitcoin is accepted as a form of payment by many online stores and traders nowadays but still can't replace conventional money because some  of the countries did not support bitcoins especially for poor countries

[developeX]

No just think about the supply we have and the demands together with the smallest possible satoshi you can send which is 550 sat and the transaction fee that is totally unstable and high its not gonna work

[waldshmidt7]

I do not think bitcoin could replace conventional money any time soon maybe hundreds of years to come because at the moment not even a third of the population in the world uses bitcoin so it would first have to be adopted by everyone for that to happen.

[Gintron]

Maybe not Bitcoin but the time will come when we wont use cash to buy something. In the future we will more and more use electronic money and not carry money in our pockets.

[xamxam]

i think so, because some country start using bitcoin as their payment in different kinds of transaction and other countries are accept bitcoin because some overseas workers in the country are use bitcoin to send money to their family because in bitcoin the fees are smallest than other money remittance center.

[Boi qaaf]

Bitcoin is a great asset to hold, but I don't think this will eliminate fiat. It is very hard to achieve transactions at Visa level with the technology we have in Bitcoin. But I would say some altcoin, with very innovative technology, could arise and achieve that goal.

[Blondy12]

No one knows what will happen in the future and if bitcoin will continue being outstanding. Well maybe not to replace fiat but be chosen by majority will be possible. Most especially here in my country. There are lots of issues that came out regarding banks. Such as account of individuals being emptied without them doing any transactions and banks declared bankruptcy and so on.

[claydeey]

It is not possible because transferring BTC  to another wallet would cost lot compare to fiat money and it takes a lot of time to transfer BTC to another wallet.

[brisonite]

I would say that the technology is here and it's not going away anytime soon. The deal with fiat currency is it allows government to control supply and demand as well as economics, there's negative connotation to the word government however we forget the positive some governments bring to their population.

Yes banks are capitalist however realize that with cryptocurrency, you're your own bank and have to deal with securing your own transactions whereas a bank would be your safety net.

The technology is still in its infancy, don't worry about it ever replacing conventional money, it already supplements it.

You've been able to buy and sell with BTC for around the last decade.

[Bestprint]

Bitcoin will not be able to replace conventional money. But as user adaption grows, bitcoin may have the chance to become the most popular form of payment after cash.

[mashort]

at the moment i think it is not feasible. unless such a time when crypto is very efficient and widely adopted by all. unless it is adopted by all it cannot replace fiat. and for it to be adopted by all, it must meet many criteria such efficiency, cost, ease of use. crypto has not been able to cross the chasm yet. https://christhecurator.com/2017/12/19/the-blockchain-promise/

[loof99]

maybe it can replace conventional money, because bitcoin price getting bigger and bigger thats why it is not impossible for bitcoin to replace it.
Also bitcoin is uses all around the world and in other country they used bitcoin for buying and paying bills. We also know that bitcoin is in demand all over the world now.

[busua]

I think it is impossible, it is just a way of investing, and the price there is a big fluctuation. The transaction is slow and the process is hard to oversee and the government will not accept it.

[kkaroul4]

Could Bitcoin ever replace conventional money?

for now in my country can not be bitcoin as a conventional currency tool because the government in my country has not formalized bitcoin sebahai means of payment of legitimate or other words of the prevailing currency

[_Mikasa_]

I don't think it would happen. The flexibility of fiat money is more reliable than any cryptocurrency. It could be use anywhere at anytime unlike bitcoin. In transactions, in our daily expenses or any other services, conventional money is more reliable unlike bitcoin. It is just better most of the time. If you are doing some private transactions and don't wanted to be tracked, then go for bitcoin transactions but its fees are pretty expensive.

[rasmadisulaiman]

If we see bitcoin prices still fluctuate, the possibility of bitcoin can not replace conventional money. Some countries certainly will not replace their money with bitcoin because it is too risky, fluctuations and security must be the reason they do not apply bitcoin as a substitute for conventional money. Conventional money must have a stable value if you do not want to have inflation.

[cposeidon]

It will never replace paper money, yes bitcoin's price is high but conventional have its own value on every country