Could Bitcoin ever replace conventional money?

[IsabelaFernandes]

Could Bitcoin ever replace conventional money?

[1714984210]

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[1714984210]

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[1714984210]

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[carlfebz2]

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.

[BingoDog]

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.

[dinofelis]

Even though one told you that in the beginning, bitcoin is not a currency.  It is a speculative asset, and now that people with small holdings are slowly forced off the chain with increasing fees, it will become a speculative settlement layer for big players only, which is what it was designed to be.  The small fish were only needed to make the thing rolling.  Soon it will be a financial instrument for big sleazy business only.

[Tyrantt]

Slower transactions, price going up and down drastically,... bitcoin will never replace conventional money for quite a few reasons and just as dinofelis said, it's an asset and if the current situation with the blocks and fees isn't resolved soon, people might start investing in some other coins.

Some day bitcoin may become an everyday options for paying but will never fully replace fiat.

[piloder]

Could Bitcoin ever replace conventional money?

Not only bitcoin nothing can just replace normal fiat cash, people still uses cash to make payments in most part of the world and banks always hold paper cash as means of deposit. I don't think we will see anything replacing conventional money/fiat cash anytime soon.

[italianMiner72]

Could Bitcoin ever replace conventional money?

bitcoin is just at the beginning of his history.
and until you will see this chat rise, there will be the opportunity to substitute $ or euro or yen in a near or far future.
https://blockchain.info/charts/n-transactions?timespan=all
We need to believe

[MMysterious]

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.

[mikey5287]

Bitcoin itself? Probably not a possibility, unless many issues are resolved. The major issue? Confirmation times are just preposterously slow. Unless there is a way to scale the amount of volume of transactions happening simultaneously per block, it's impossible to become a widely-used currency.

However, the future of currency will be digital. Fiat cash won't prevail as the king for long, as most fiat currencies are highly-flawed. But to answer your question, it is highly unlikely that bitcoin itself will replace money.

[noictib]

Could Bitcoin ever replace conventional money?

I think it is possible for the Bitcoin to replace the conventional money it is because the trend of Bitcoins increasing day by day and most of the countries who developed fully are accepting the Bitcoin for the legal payment purpose and also declared the Bitcoin as legal asset for the investment .
So it is possible that in the future every people use the Bitcoin for buy and sell their products in online as well in offline and that will results into the lack of use of conventional money .
But currently the problem of confirmation of Bitcoin is a less is really a miserable think for the use of Bitcoin and I am sure that their Bitcoin confirmation system will be improved in the future and will make the use Bitcoin more easily .

[betlord90]

Could Bitcoin ever replace conventional money?

Nope mate. Fiat/conventional money = big business to the government and im so sure that they would not allowed that their what so called threadmark/money will be elimated and counter taken by bitcoins who are known to be unregulated right now. And replacing anyones currency is just a legend for bitcoins since I think goverment will think it as alternative E-currency,payment processor and anything digital to be used when they are been scarce.

[davis196]

Could Bitcoin ever replace conventional money?

Why are you asking questions already asked a few years ago.
Try to boost your post count with better threads and more interesting questions.
Bitcoin`s goal is not to replace fiat money.

[DoublerHunter]

Could Bitcoin ever replace conventional money?

I don't think bitcoin will replace the conventional money because its supply is not enough to supply all the demand of the people in the possible market and also satoshi nakamoto has a lot of bitcoins that is around million or even more than that so it will be a very few supplies and i think bitcoin network will not sustain the whole demand even right now it is already happening.

[Nahl]

the confirmations of transactions could the weakest of bitcoin currently because even the bitcoin price was so high but the transactions was too slow and i think from this side bitcoin could not replace the conventional money because with the money people could do instant transactions between person to person without wait the confirmations and bitcoin could not do that

[Kprawn]

Nope, because people have too many diverse ethnic backgrounds and opinions about different subjects and not just about reserve currencies.

What you might see, would be a variety of GovCoins being developed for different currencies to mimic the fiat currencies of that nation or

country and we will then have a digital version of fiat currencies. Bitcoin will cross all these borders. 

[italianMiner72]

the confirmations of transactions could the weakest of bitcoin currently because even the bitcoin price was so high but the transactions was too slow and i think from this side bitcoin could not replace the conventional money because with the money people could do instant transactions between person to person without wait the confirmations and bitcoin could not do that

i think not just the ten minutes for confirmation time are the problem!!!
for the small transaction, paying with bitcoin still become too much expensive for the high fees
just think to buy a coffe...

[Drnice]

Could Bitcoin ever replace conventional money?

Its not possible for Bitcoin to replace conventional money, because the population contained on the globe is much more than the total supply of Bitcoin in the market system.

[freeyourmind]

Could Bitcoin ever replace conventional money?

No currency replaces another currency.  It's just an alternative that people can choose to use.

However, taxes need to be paid in local (national) currency, so companies will be more inclined to accept and pay their employees and taxes in the local currency.

Bitcoin will never replace any fiat currency.  Central banks have an insane amount of power, and they're not going to just give that power back to the people.

[LilibethSantos]

Considering current transaction times, nobody would want to use Bitcoin for microtransactions instead of cash.

[virtualdn]

No because it's too slow!