Could Bitcoin ever replace conventional money?

[gvnsrbtc]

I think it's not possible, even though technology evolves and people use more bitcoin, cash is still the only tool for making exchanges in everyday life. Bitcoin is dependent on the internet, and it needs a huge charge for every transaction, so people can not use bitcoin for everyday life, or in other words, it can not replace cash unless it solve fee problem.

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[hinterland]

No, however future cryptocurrencies have every possibility of doing so.

[sirkings0003]

Bitcoin will not and will never replace fiat currency or conventional money. They all have their advantages and disadvantages which are almost indispensable to each other. Bitcoin mostly solves cross border problem, while conventional money mostly solves local problem

[e19293001]

I think it's not possible, even though technology evolves and people use more bitcoin, cash is still the only tool for making exchanges in everyday life. Bitcoin is dependent on the internet, and it needs a huge charge for every transaction, so people can not use bitcoin for everyday life, or in other words, it can not replace cash unless it solve fee problem.

That is what altcoins are currently trying to solve. Companies and communities are racing to replace bitcoin that will be a case of trial and error since the technology evolves faster and faster. Soon there will be a winners in the race. The one who hodls it will be the lucky one. But still I don't think it will replace conventional money.

[kirito1614]

Despite the fact that one disclosed to you that at the outset, bitcoin isn't a currency. It is a theoretical resource, and now that individuals with little possessions are gradually constrained off the chain with expanding expenses, it will end up being a speculative settlement layer for enormous players just, which is the thing that it was intended to be. The little fish were just expected to make the thing rolling. Before long it will be a money related instrument for huge unpleasant business as it were. No, I feel that it can't. It could be utilized alongside conventional cash however it can't completely supplant it. Lamentably bitcoin needs to numerous issues, weakness and qualities that don't enable it to be completely utilized and actualized in conventional budgetary framework. Unpredictability is only one of them.

[GunsNRose]

I don't see the likelihood that crypto currency will replace ordinary money. Crypto-currencies are inherently more like shares of various companies.

[wolfgang56]

Could Bitcoin ever replace conventional money?

No, bitcoin can't ever replace conventional money because even the government is against of bitcoin because they do not trust bitcoin and i don't know why they don't trust it even it can give people money for their everyday life. Money is a tool that every people used and I think bitcoin can't be used by anyone especially for those people who doesn't know how to use computer or internet.

[Nexigen]

Bitcoin and ordinary money? I doubt that he will be able to replace them once. Maybe in 50 years, when the generation changes, people will not be afraid of crypto currency. When each country has its own crypto currency or one for the whole world is universal.

[TheSmo]

If banks all over the world recognize cryptocurrency as universal payment means, then it is more than possible. I think yes. Many of my friends believe this and would like it.

[Nexigen]

If banks all over the world recognize cryptocurrency as universal payment means, then it is more than possible. I think yes. Many of my friends believe this and would like it.

But the banks will not do it. It's easier to store everything in metals or fiat money. To pay retirement for older people with cryptocurrency? It will frighten them.

[TheSmo]

If banks all over the world recognize cryptocurrency as universal payment means, then it is more than possible. I think yes. Many of my friends believe this and would like it.

But the banks will not do it. It's easier to store everything in metals or fiat money. To pay retirement for older people with cryptocurrency? It will frighten them.

If in the shops, public transport and in any other places there will be installed devices for payment by cryptocurrency, then such money will become common. And they will replace fiat money.

[GardenChristian]

Could Bitcoin ever replace conventional money?

I don't know if bitcoin can replace traditional money, but it hasn't. There are still many countries that do not recognize the legitimacy of bitcoin, which cannot be traded in these countries.

[Denisliternyjj]

I think that this is entirely possible! Since it is safe for citizens and you do not need to pay taxes to banks and officials!

[callmeback]

Well, still many countries that do not recognize the legitimacy of bitcoin. They have their advantages and disadvantages which are almost indispensable to each other. However, they won't replace fiat either, but will work alongside it. I dont think that will happen in the future because I think bitcoin is not suitable to the requirement of being a conventional money of a certain country. But still I don't think it will replace conventional money.

[Larsius]

If Bitcoin get serious development and unlock much better scaling then it will replace the conventional money.
Conventional money is history. Crypto is future.

[freshm4ker]

To me that bitcoin can never completely replace paper money. The world's population will have access to the internet and the necessary knowledge in the field of crypto currency. In addition, small transactions are financially unprofitable in digital currencies because for the transaction it is necessary to pay a higher return than the cost of the purchase itself.

[missyqt29]

Could Bitcoin ever replace conventional money?

It was like if bitcoin has replaced the fiat we use today, people will complain that no one could manage or regulate it. So I want to keep things the way they are now. Fiat got the every day finance while crypto currencies top the online market. I don't want them to fight over. I want to stop people mocking us and calling it bubble money.

[Hotel_Prodeo]

If Bitcoin get serious development and unlock much better scaling then it will replace the conventional money.
Conventional money is history. Crypto is future.

Yes it is time for the transaction system to change soon, many problems if using conventional money especially if the transaction with 2 different currency, there is always injustice because of the problem of exchange rate, it is time the world use bitcoin to replace conventional money.

[setialovers]

To me that bitcoin can never completely replace paper money. The world's population will have access to the internet and the necessary knowledge in the field of crypto currency. In addition, small transactions are financially unprofitable in digital currencies because for the transaction it is necessary to pay a higher return than the cost of the purchase itself.

Beside that, not many country have good infrastructure to implementing bitcoin transaction. Its must need good internet connection and people should have knowledge about it. I think bitcoin as investment is more reasonable than bitcoin replace become currency

[miang]

I don't think bitcoin can replace traditional money as it is under the control of the government of country, maybe there is a greater chance that traditional money would be replaced by a digital currency which would be under the control of governments and central banks.