Will Bitcoin Kick Every Other Paper Money Out of Business?

[digitalholic]

I want us to discuss on this topic. Do you see bitcoin kicking other paper money out in the nearest feature?

I will love to hear your views guys.

[sweetdesirez]

I want us to discuss on this topic. Do you see bitcoin kicking other paper money out in the nearest feature?

I will love to hear your views guys.

If it was an objective type question I would have selected NO.
As of now, United States Dollar is considered to be the most powerful fiat currency. But has it kicked out any other currency? All currencies, including digital currencies like Bitcoins will exist, but their value will rise or go down in due time.

[Snub]

I don't think so

do you want to buy a $1 item on a store and pay btc for it? imagine how much transaction fee you need to pay for that $1 item and not all people are into crypto world

[okinnas]

Will never happen. Though the price of a single bitcoin is higher than any fiat money not all have an access to it. If all people in the world including those living in third world countries have an access to a computer or mobile then MAYBE it will be possible but most unlikely to happen.

[@prashant]

Will never happen. Though the price of a single bitcoin is higher than any fiat money not all have an access to it. If all people in the world including those living in third world countries have an access to a computer or mobile then MAYBE it will be possible but most unlikely to happen.

even if we take every citizen is literate and have basic understanding of bitcoin usage,then also bitcoin will not be used for daily purposes,we have to understand one simple thing bitcoin is not meant for day to day daily purchase ,it has become most profitable virtual asset like you do with stock or forex. though blockchain technology can replaced current transaction system but fiat money can not be replaced.

[okinnas]

Will never happen. Though the price of a single bitcoin is higher than any fiat money not all have an access to it. If all people in the world including those living in third world countries have an access to a computer or mobile then MAYBE it will be possible but most unlikely to happen.

even if we take every citizen is literate and have basic understanding of bitcoin usage,then also bitcoin will not be used for daily purposes,we have to understand one simple thing bitcoin is not meant for day to day daily purchase ,it has become most profitable virtual asset like you do with stock or forex. though blockchain technology can replaced current transaction system but fiat money can not be replaced.

I don't think so

do you want to buy a $1 item on a store and pay btc for it? imagine how much transaction fee you need to pay for that $1 item and not all people are into crypto world

True, if bitcoin will be used as a common money the value of this will plummet and of course no miner will be ever willing to mine for 10 sats per transaction.

[x8currency]

We believe that our solution, a stable cryptocurrency named X8C, can build a bridge between fiat currencies and crypto world. X8C is 100% backed with fiat currency and gold coins, redeemable at any time. In the background, X8C price is pegged to 8 main currencies + gold coins price, but also 1-2% yearly gain is obtainable through portfolio management.

Read more here: x8currency web page and Medium blog.

[Apes]

I want us to discuss on this topic. Do you see bitcoin kicking other paper money out in the nearest feature?

I will love to hear your views guys.

If it was an objective type question I would have selected NO.
As of now, United States Dollar is considered to be the most powerful fiat currency. But has it kicked out any other currency? All currencies, including digital currencies like Bitcoins will exist, but their value will rise or go down in due time.

i agree with you dollar is the currency that has been certified in the world of the first money maker is the dollar can not be kicked by bitcoin and bitcoin is a means of substitute dollars on the internet that has not been validly the world hope soon in the legal

[Sidas_Crew669]

Maybe in the future will most bitcoin is indeed to be used in a variety of ways, because it is a system that we can get is the thing that most give much advantage from other things. So it is indeed in the future bitcoin has the potential to kick the paper money, but it all will never reduce the value of the banknote. Because it is used only for the benefit of bitcoin and not for the currency. Remain confident and work hard

[Madstayler]

As for me, I guess that bitcoin and some other cryptocurrencies may become equal to fiat, but never kick it. The point is that governments can not tax cryptocurrencies, so it`s not in their interest to support bitcoin. How do you think?

[vegito]

Maybe in ten years or so. Don't expect to see each merchant accepting Bitcoin before we have features making transactions much faster, such as Lightning Network. After that, we need to heavily promote Bitcoin, to make merchants see its potential.

[suvo05]

I don't think that is going to happen ever. The possibility is nearly zero. How can you do offline transaction with bitcoin? Still a large number of people like to trade in hard cash it is an ancient practice it cannot be eliminate easily. Beside to provide bitcoin as money to everyone we needed to educate all and internet connection should be provided all over the world which is a tough task.

[Fredomago]

it wont for my opinion as we knew that there's still a government that will needed to be considered since bitcoin cant be controlled so they wont allow that to happen to their currency even we want that to happen still a big question mark if the government behind this paper money will be willing not to control their currency and allow accumulating non taxable money.

[bigdogdan2]

bankers control the world behind the scenes, do they want crypto?

[lilRoy07]

I believe the banks have to have some holding of BTC.

It cannot replace currency, not yet anyway. But in saying that another coin possibly could.

[prakashghai]

I want us to discuss on this topic. Do you see bitcoin kicking other paper money out in the nearest feature?

I will love to hear your views guys.

Yes..That scenario seems to be pretty likely in the future..

We all know that the real value of fiat is zero...

Unless of course they bring back the Gold Standard

[Loveydovey04]

I want us to discuss on this topic. Do you see bitcoin kicking other paper money out in the nearest feature?

I will love to hear your views guys.

I dont think so. Paper money is the one supportd by the governments. Besides not everywhere bitcoin is accepted so even if we say that in the future bitcoins coud be accepted as payment i dont think it will carry all.

[novhitadaloma]

that's impossible, too impossible. the human need for paper money is higher than bitcoin. paper money can be used easily and reach up to the village. while bitcoin use is very complicated for people who do not know IT

[lilRoy07]

that's impossible, too impossible. the human need for paper money is higher than bitcoin. paper money can be used easily and reach up to the village. while bitcoin use is very complicated for people who do not know IT

not impossible... 20 year olds, become 30, become 40.

Kids grow up with this tech ALWAYs now. Watch what happens.

Its 20+ years away but still, currency will be dead.

[subSTRATA]

I want us to discuss on this topic. Do you see bitcoin kicking other paper money out in the nearest feature?

I will love to hear your views guys.

no, there will always be a demand for a physical form of any currency that can be easily traded off without hassle, fees, and other procedures that might hinder the process of a simple trade. why go through the process of sending a transaction, paying a fee, and waiting for confirmation times for a small, everyday transaction? it's just incredibly inefficient. what im reading about the lightning network is supposed to rectify this issue, but im not too sure yet, ive still got reading and catching up on the subject to do. physical forms of currency provide a practical, simple solution as well as an alternative form of payment that doesn't require a network connection for people (i would imagine the connectivity might be an issue for some people in various parts of the world).