Could Bitcoin ever replace conventional money?

[Xzhyte]

It wont replace conventional money. Paying with bitcoin is inefficient when making micro transactions, because of low speed and high TX fees. It is also not very accessible since you need to have at least a smartphone or laptop and internet connection to make a transaction. It cant replace money but it will very well work along side it.

[Cryptron]

Paying through Bitcoin will be a hassle for others if it will replace the conventional money. There are old people who does know to use smartphones and some countries dont have free wifi everywhere. We know that in accessing the Bitcoin wallet you need to have a internet. Also the high transaction fess will be hindrance in paying bills or stuffs.

[Godric-Gryffindor]

Not for now I think, conventional money still the strongest wheel for global economy, with this paper money we can support the need supply of the world, gold can't meet the demand because of lack of supply, silver and other precious metal combine also fail to meet population density we have, the use of conventional money still plays a bigger role in our economy, could Bitcoin will ever replace conventional money could be but Bitcoin need more serious change to make it happen.

[BTCerm]

Of course, there are also some huge challenges and concerns with this scenario. If bitcoin outpace conventional in terms of usage, traditional currencies will lose value without any means of recourse. Should bitcoin take over entirely, new infrastructure would have to be developed in order to allow the world to adapt. There would inevitably be difficulties with the transition, as conventional money could become incompatible quite quickly, leaving some people with lost assets. Established financial institutions would likely have to scramble to change their ways.

[Vin183~]

probably not, as many countries forbid transactions using bitcoins. For example yes in my own country. So, that's impossible

[_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. Bitcoin can be use I think if the value of its transaction fees will be lower. Its transaction fees are too high that even Steam stopped supporting it as a payment.

[DianeDeziree]

Could Bitcoin ever replace conventional money?

Nope! Impossible

[AliMan]

Could Bitcoin ever replace conventional money?

Nope! Impossible

Maybe not totally. Although bitcoin has a really great potential, it's hard to see that it will totally replace bitcoin as in all major and minor transactions are done through bitcoin. It could only be that more and people will favor bitcoin and it will be part of our day to day life.

[johncruze]

Whether bitcoin or any altcoins nothing can just replace normal fiat money, almost everyone still uses cash to make payments in most part of the world and the banks always hold paper cash as a means of deposit. I do not think we will see any currency replacing conventional money anytime.

[AnisahSiti]

Could Bitcoin ever replace conventional money?

No... Bitcoin exists to payment gateway not replace the conventional money. Why do you think about that? why do you think Bitcoin will replace the fiat money?

[ellabanana]

It might not be bitcoin, but the era of cryptocurrency will soon rise replacing our paper money. That's how it is started right? To have a cashless transaction. So later on, it would be possible that their vision and mission will soon be realized and when that time comes, we are at the advantage since we started in this community first. But for now, bitcoin is still struggling.

[sabine80]

i hope not. i think bitcoin is the best system to pay online, but i like the conventional money. conventional money give my a better fehling. i can use it without i-net or electricity. i can still use it in bad times and it have more acceptance than bitcoin at the moment. maybe it will change in the future.
i think i maybe to old and like to have money in my hand.

[webdevmastery]

Could Bitcoin ever replace conventional money?

There is a possibility for fiat to be replaced by bitcoins since the value of btc today is rapidly increasing in the market and there are  a lot of new investors that join the community, there are also online stores who are using bitcoins as a payment method so maybe in the future, bitcoins will be fully accepted world wide and we will live a cashless nation.

[Boriss]

Whether bitcoin or any altcoins nothing can just replace normal fiat money, almost everyone still uses cash to make payments in most part of the world and the banks always hold paper cash as a means of deposit. I do not think we will see any currency replacing conventional money anytime.

I have just read your comment and makes me wonder a little, because in my case all things that I have  bought in a last few months are actually paid either with my card or paid online via bank transfer.
I carry some small amount of money in my wallet but almost never used it, only in case of emergency, for example when POS device are out of order or something like that.

So what I wanted to say, BTC or any other crypto can easily replace my current paying methods.

In EU more and more people are using cards and online transactions for everyday shopping, traditional paper money is used only in rural regions and with traditional people that doesn't have regular stream of income to get some kind of plastic card, but nowadays you can get plastic event with regular bank account without income.

Don't get me wrong I don't have anything against paper money, but the other way seems more convenient to me.

[keung0109]

I don't think it ever could. The limited supply and huge demand for it won't make it possible to pay for groceries lol. Plus it has to be widely adopted

[buhchain]

I do not think Bitcoin will replace the traditional money, it may be able to provide more than one payment method.

[the majesty]

Could Bitcoin ever replace conventional money?

I strongly believe something that it was before impossibility remained impossible but now things has changed and even I will put it like this that things changes everytime. Bitcoin can replace conventional money in this our world because it is generally recognized in the world even more than money these days

[harbin55]

Yes there is a chance that the company of bitcoin will replaced the local money of different nations since there are lots of users who supports the services of bitcoins.

[andrei214]

Could Bitcoin ever replace conventional money?

The money we used to have become part of our life that maybe bitcoin cant replace for some people.Specially to those people who didnt know about bitcoin.They will continue to use the money we have nowadays because it is the money they have trusted and known.

[xapwxrm5742]

I don't think it ever could. The limited supply and huge demand for it won't make it possible to pay for groceries lol. Plus it has to be widely adopted

Bitcoin has a currency substitution function within a certain range, but it is still far from the standard of modern currency. Money is used as a medium of exchange, the measure of value, the means of payment, the value of stored goods. In view of this, the current role of Bitcoin is more reflected in the exchange and investment, the role of the most reflected in the payment of monetary value is very limited.