bitcoin cannot replace currency in the world because price is not stable

[ahmad21]

Yes I agree with you but this wont really be the prime reason why bitcoin cannot replace currency. The prime reason would lie in the decentralization capability of bitcoin. No govt around world would want the world to get decentralized. Not quite sure but BTC has really slim chances to make it as a mainstream method of transactions.

[bellamae]

Bitcoin is an innovative idea that brings the concept of currency ownership to the peer-to-peer world. Everyone has fiat in one way or another, whether it be in actual coins and dollar bills, or credit.  If you have the cash and you buy something from another person, the only trails that lead back to you or those you leave on your own. Bitcoin is a very volatile currency. There are major price swings (whether it be up or down), and this can even happen on a day to day basis. But the chances of it taking over the fiat world are pretty much non-existent.

[South Park]

I see a lot of it saying that bitcoin can never replace a currency because it is virtual. That said, do not forget that 90% of our monetary system (EUR, USD...) is virtual and only 10% physically exists in the form of coins and banknotes... That is not a valid argument...

The argument holds some ground, bitcoin is completely virtual and not physical that is an issue since in may parts of the world many people only use cash, so we are still going to need a fiat system to keep servicing those that are unfortunate enough to not be able to access bitcoin.

[wisdomcn]

I would state that not the value dependability that decides bitcoin to supplant fiat monetary standards. It is truly the Government and the banks that will decide bitcoin to supplant fiat and it won't be able to happened, just on the grounds that they can't let crypto which they won't have the capacity to control to rule in the financial order.

[tech72]

Well, Bitcoin is becoming more like Gold that is used to store value. With fees being high it will not be able to replace currency which is used for smaller transaction. However, another cryptocurrency can fill that spot.

[South Park]

Probably one of the most reasons why bitcoin cannot replace currency in the world it's because we have central banks that have the support and being regulated by the government which is monitoring and regulating the banks all over the world in which the banks is the center is the currency of the world. Regardless bitcoin is still very as compared to the other veterans in the currency world out there. It has much to explore, much to developed and learned. And it shows a potential to be a great currency in this world not to replace but to be included.

You are forgetting the most important thing, those institutions are in place because people have confidence in them the moment people lose confidence in those institutions they are going to become very frail, if people choose bitcoin over the US dollar then governments wishes become irrelevant.

[jinksters09]

I dont think that is the reason why bitcoin is not going to be a currency in the world. I personally thinks the first reason why is that bitcoin cannot replace is that because governments don't have a firm support to it, some of the countries are banning and making countermeasures to prevent the use of bitcoin, also many governments this is where illegitimate transactions pass through.

[8Habits]

I dont think that is the reason why bitcoin is not going to be a currency in the world. I personally thinks the first reason why is that bitcoin cannot replace is that because governments don't have a firm support to it, some of the countries are banning and making countermeasures to prevent the use of bitcoin, also many governments this is where illegitimate transactions pass through.

Let us all remind ourselves that bitcoin was not designed for government to approve it. This is a revolutionary way of transacting online without any government or country regulating bodies.

[insom]

I agree with the title of this topic, bitcoin will not replace the fiat currency of the world or different countries because bitcoin is not stable on its price so the purchasing power of bitcoin for different items is not fixed and also the supply of bitcoin is limited only so it cannot supply all the demand of the people in the world so it cannot replace the current fiat system that we have right now.

On the off chance that discussing funds and economy, each cash or resource has some unmistakable upsides and downsides. For instance, in the event that we discuss some significant resources like gold, beyond any doubt it has esteem and a ton of interest from around the globe particularly from financial specialists, new players like digital money can't be disregarded who are outperforming the applicants rapidly and excelling in the diversion. Bitcoin can be viewed as one of the best driving competitors which has officially abandoned gold and is rapidly picking up in on the FIAT monetary forms. It is just a short time that it likewise outperforms the FIAT monetary standards.

[huynotientao]

There are many reasons why bitcoin can not be a common currency. Simply because it is too expensive. And the cost of each transaction is quite expensive. The bitcoin blockchain technology is 1.0.

[tatum506]

bitcoin can not replace currency. Because its block chain technology is not suitable for the future and there is no way to upgrade. The cost of each transaction is quite expensive

[insom]

That's clear. Bitcoin can not replace the currency, in the world. Because, not everyone has the tools to use Bitcoin. As we know, Bitcoin need a internet connection.

Bitcoin doesn't need to replace any of the existing fiat currencies. It's mind boggling how people constantly keep focusing on this. Bitcoin is a perfect alternative for those that aim to enjoy a high level of freedom, in form of not being dependent on any sort of central entity. For me Bitcoin is more like Gold, but then the 2.0 version. It offers an insane level of convenience and usability in terms of moving value from one place to another near instantly, and it allows you to store wealth outside the banking and governmental system. In terms of a proper all round currency, fiat is doing its job pretty well, and thus there is no point into changing anything in this regard. Bitcoin and fiat can perfectly co-exist, people for once need to stop being so short sighted.

It can be concurred that bitcoin doesn't have to supplant any of the FIAT monetary forms however when we discuss bitcoin supplanting the FIAT monetary forms particularly the dollar, we moderately address the power that specific money has. Clearly the cash having the most power will be the most persuasive, capable and the most requesting money in the whole world. Bitcoin can be viewed as the most requesting and power cryptographic money in the online world.

[insom]

bitcoin cannot replace currency in the world because price is not stable.

currency should be more stable.

you may reply me. currency is not stable also but you should think  

USD currency price is up and down 1-2% in 1 month.

bitcoin price is up and down 20% in 1 month.

what will people think if they just change USD to bitcoin then their money down 10% in 10 minutes?

bitcoin can become stock but cannot become currency

In the event that we discuss two alternate points of view that is the estimation of bitcoin in the online market and the estimation of bitcoin among different monetary forms it has pretty much a similar significance as far as esteem. Bitcoin is the most generally utilized cash over the web and furthermore secure and simple exchanges should be possible in a split second. In examination with different monetary forms, it has the most noteworthy esteem notwithstanding outperforming the dollar by a mile. Bitcoin's present esteem is roughly around an incredible twenty-six hundred US Dollar.

[Mrjitter]

Bitcoin have long way to be currency and stable price is one of problem that we should think later, i think problem such as scaling solution while keep decentralization should be fixed first.
We also must find way to upgrade network regularly as computer hardware get faster and cheaper, then we can think about how to make bitcoin price stable while also think about bitcoin adoption.

A standout amongst the most imperative points of interest that bitcoin has in its pocket and that no other conventional cash has is that bitcoin is decentralized. It gives bitcoin a gigantic lift considering the way that decentralized money has a few points of interest over its adversary. One of the points of interest is that it can't be controlled by a specific substance. It is just controlled by the merchants that are the purchasers and senders. It additionally puts numerous tricks to rest that individuals have against conventional monetary forms.

[Mrjitter]

Bitcoin is a long way from becoming a currency you can live your life in. You also only have 7 transactions a second. But that doesn't mean Bitcoin isn't immensely valuable as a medium-term and long-term store of value

Since the arrival of bitcoin and its street to progress and notoriety, individuals have outlined and enhanced new thoughts in push to use the best out of the bitcoin cash. Famous associations and organizations as well as new destinations have been made in which installment trade is exclusively does in the bitcoin cash. Popular stores like Amazon, Ebay have likewise begun to take bitcoin as an installment choice further fortifying the grip of cryptographic money like bitcoin all through the universal market.

[guxu219]

bitcoin cannot replace currency in the world because price is not stable.

currency should be more stable.

you may reply me. currency is not stable also but you should think  

USD currency price is up and down 1-2% in 1 month.

bitcoin price is up and down 20% in 1 month.

what will people think if they just change USD to bitcoin then their money down 10% in 10 minutes?

bitcoin can become stock but cannot become currency

Bitcoin is made to be a global currency and not as stock.

Why is bitcoin so volatile?

Because bitcoin is in a very VERY young stage. The system isn't final yet. There are lots of updates to be made in the future that can determine if bitcoin will continue to be the de-facto of cryptocurrencies or not. Not to mention that we haven't achieved global adoption yet.

The USD has been around since forever. So common sense should tell you that it will be stable compared to crypto that hasn't even been around for more than a decade yet.

Do your own research.

In the begin when bitcoin was made, its survival was in reality troublesome yet individuals including the makers and other individuals intrigued by advancing cryptographic money strived to make it a win. Inevitably covering the years through, everybody has seen what a colossal hit bitcoin has been. It is ruling the online market at this moment and has just outperformed other intense worldwide monetary forms including Dollar, Euro, Pound and so on.

[guxu219]

Bitcoin is good for many use cases and it will surely change money and society, but physical currency is still needed for situations where we do not have internet access.

I do concur with you since web get to isn't all over or regardless of the possibility that it is wherever in specific nations, it isn't required in specific circumstances. Man is a social creature and fundamental association is as yet expected to guarantee it survival something web or online networking destinations can never give. In this manner, it is proposed that digital money and customary monetary forms can exist together and can be utilized at whatever point they are required not meddling in each other's business.

[Naoko]

I agree with the comment above, bitcoin is still being created and it is too young and unstable to replace the currency...I don't think this will happen...rather bitcoin will live next to other currencies

[Amanda Krause]

I absolutely agree. It will not replace the world currency. Many people can't accept it. And the reason is not only in the price with is not stable.

[m1c0]

I also have to agree that bitcoin can't replace currencies in the world yet. Maybe tech will go on and we can see a much better bitcoin in the future and everyone will be able to pay with it as they wish but there are way to many dificulties to solve until that happens. Maybe another crypto will do that we will not know that until it's done.