Will Bitcoin supersedes Cash in the near future?

[subSTRATA]

when you say 'cash' im assuming you mean fiat currency; my personal thought is no. not in this decade at least, for a simple reason: not enough of the world will pick up on bitcoin and be proficient enough in the basics that would warrant mass adoption. even though we are moving towards a digital age (imo), the ins and outs of bitcoin isn't something that many of the older population (middle age) would pick up easily out even be receptive to.

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[ethereumhunter]

Being the first digital currency to really establish deep and firmly in the market. Do you think in the near future Bitcoin will dominate our current currency?

i am not sure about this because as long as bitcoin is not approve by the government then its difficult to dominate current currency. but if only using in internet, i think right now we are dominate every currency and bitcoin price is the highest price right now if i am not wrong. maybe in future, this will happen and bitcoin will be using as current currency.

[Supreemo]

,OP like what you are saying it is just the same that maybe one day bitcion could replace our fiats in terms of value, but i guess its really hard to replace fiat w;th bitcoin alone, maybe for now but we do not know about the next years or generation that will come, anyway it may took time to organize bitcoin to people, as well as still plenty of people doesn't know bitcoin very well.

[Fatunad]

Being the first digital currency to really establish deep and firmly in the market. Do you think in the near future Bitcoin will dominate our current currency?

No i cant see such reason for Bitcoin to be considered to dominate our own local fiat currency because they would really stood firm and knowing that government would be always there and this thing cant really be considered at all. No matter how bitcoin would progress it would really just still remain as digital currency and this is why there no need to think off on this kind of situation regarding surpassing fiat anytime soon because it wont really happen at all.

[savioroshan]

We cannot predict anything. Waves and ether are good competitors for bitcoin if you consider among digital currencies. Waves and ether price will increase gradually . But if you compare it with fiat currencies, definitely it cannot supersede fiat currencies. I agree that bitcoin has got so many advantages, but fiat currencies also have many advantages and it can be used even by uneducated people.So in my opinion its not possible.

[noormcs5]

Cash is an enigma. There was a time and a place when hard currency served its purpose. That time in that place was a long time ago. As early as the 90s , hard hard currency could have easily been done away with. Debit card, and other digital currency mediums could have replaced it long before Bitcoin.

[Cereberus]

It is not possible in the near future. Very few percentage of world population uses bitcoin as we write, about 0.01% is estimated and with only such small amount of persons using it , its impossible that bitcoin surpasses cash. However I am very optimistic that for the new up coming generations, bitcoin may have achieved the same level of being used as cash.

[Aztek]

As of July 2013, currency in circulation—that is, U.S. coins and paper currency in the hands of the public—totaled about $1.2 trillion dollars. The amount of cash in circulation has risen rapidly in recent decades and much of the increase has been caused by demand from abroad.

So we still have a long way to go to supersede fiat currency. The thing is, fiat cash is being printed like toilet paper and it decrease in value, where Bitcoin increase in value. ^smile^

For me Bitcoin doesn't need specifically to take over the system of cash or fiat. Because as you said dollar or what we consider paper money has a lot of circulating portion around the world and it is consider as a universal current in terms of fiat. So I think Bitcoin much need to develop its system to make it as a more universal current compare to fiat. Serving a better option on transaction specially on investing and trading.

[hashtag101]

Cash is an enigma. There was a time and a place when hard currency served its purpose. That time in that place was a long time ago. As early as the 90s , hard hard currency could have easily been done away with. Debit card, and other digital currency mediums could have replaced it long before Bitcoin.

Yes, although my country still development if compare with other rich country as Japan, US ... but in recently, special in this year, most shops changes the payment system to use Visa/Mastercard. This is a signal for remind us know paper money will be not good in future.

[virasog]

The last hurdle that currency replacement had watch the fact that not every person had a bank account or a debit account. Over the past 15 years, the US government has ensured that even those that are on government payment plans instead of work based income, have access to their money through an account and through a debit card. Once that happened there was still no reason at all to have cash.

[Bagaji]

In my opinion it will be difficult for bitcoin to supersede fait currency in future, but I believe both of them could exist simultaneously. There are a lot of bottleneck like internet access, electricity, knowledge of how to operate computer in some part of the world that need to be take care off before one can think of Bitcoin supersede fait currency.

[marcbitcoins]

Being the first digital currency to really establish deep and firmly in the market. Do you think in the near future Bitcoin will dominate our current currency?

Do you mean overtake paper money such as cash or do you mean will bitcoin overtake credit cards and other forms of online payment methods?

I don't really ever think that Bitcoin will ever overtake cash since they have too much of a difference and comparing them is like comparing apples and oranges. I think that cash will be here for a long time, until everything gets computised.

Bitcoin could overtake credit cards, they have better features than them and it would work well.

Yeah i believe too it wont specially for the poor countries when most of the people are poor that they didnt know how to use computers and other digital devices. They will just rely on paper money to buy food than to learn the digitals because of poor education. Possible bitcoin will take over paper money if the country is rich and have a powerful economy that their people are mostly computer literate.

[avikz]

Being the first digital currency to really establish deep and firmly in the market. Do you think in the near future Bitcoin will dominate our current currency?

I am 100% sure that bitcoin will never be able to dominate fiat currency in any way. At least for next 15 years, I don't see that happening. Bitcoin has already created a parallel economy a lot of people are earning money from it and living a decent life. However, being decentralized in nature, bitcoin will never be accepted a primary currency in any country. Also the government will not want to distribute the power of money to their citizens freely.

Bitcoin will remain as the most strong digital asset and probably few more countries will allow merchants to accept bitcoin but it can never replace a mainstream fiat. 

[Adbitco]

Being the first digital currency to really establish deep and firmly in the market. Do you think in the near future Bitcoin will dominate our current currency?

I am 100% sure that bitcoin will never be able to dominate fiat currency in any way. At least for next 15 years, I don't see that happening. Bitcoin has already created a parallel economy a lot of people are earning money from it and living a decent life. However, being decentralized in nature, bitcoin will never be accepted a primary currency in any country. Also the government will not want to distribute the power of money to their citizens freely.

Bitcoin will remain as the most strong digital asset and probably few more countries will allow merchants to accept bitcoin but it can never replace a mainstream fiat. 

Yes absolutely correct. Even I don't think that bitcoin will supersede fiat, both bitcoin and fiat will coexist like they do now. I don't even think if there's a need for bitcoin to supersede fiat as both have their own respective advantages and disadvantages. In fact I am of the opinion that the coexistence of bitcoin and fiat both will make the economies of most of the countries much better than the lack of anyone of the two.

[dimastegar]

Could be yes, could be no. Although BTC prices are very high and dominate the market, Bitcoin still needs time to be the best. And BTC prices are now still far from expectations.

[Thatstinks]

BTC or any digital currency will ONLY take over fiat if and when we are under a police state, period.

Why?

Do you know CASH makes up nearly HALF of the economy, get rid of that and good bye economics of survival.

Case closed, praying for a digital currency to rule and replace all cash is like praying for a prison state.

[smileee]

Being the first digital currency to really establish deep and firmly in the market. Do you think in the near future Bitcoin will dominate our current currency?

I think bitcoin should continue to grow independently and not compete with cash. Each currency has a different range of uses. Cash will be suitable for daily life. Bitcoin brings out the best potential when dealing in the world. Bitcoin and cash should grow in parallel.

[winderx]

Cash as in, notes? coins?

I think it will be hard to completely replace notes and coins. Governments will still need to take into consideration for older generations on their ability to pick up / use modern technology.

[ajmapalo22]

I think not exactly dominate our current currency but somehow became the major crypto currency in the market...It's really obvious that bitcoin is getting more popular and many people are now looking into bitcoin but it cannot supersedes cash because bitcoin somehow has limitations unlike cash.

[pepoaly007]

i think not yet cos the bitcoin need more time to be more poweful and need more support to be strong just more time i  think