Will Bitcoins one day replace other forms of money?

[Monkey D.Luffy]

As we have seen so far Bitcoin is a form of currency that has a bright future and that's something that makes it possible for it to replace if not all at least some other type of money out there. If not replace it can at least, with proper investments and movements, take it's spot as another currency that could potentially be used in the money transactions as any other form of money.

[harmunian]

In my opinion this will be delayed because it has not yet passed on to all the internet.But later on it could be done in a few countries which have great development with technology.

[stompix]

There is no "other forms" of money.

There is only fiat that is currently being digitized as more and more people abandon cash.
Already cash is being almost "extinct" in Sweden.

What bitcoin can do is simply replace digital fiat with satoshis.
And surprisingly is not such a huge and impossible step to be taken since after all both forms are just lines of code and cells in a database.

[AGD]

Will bitcoin replace today's fiat? What are the advantages / disadvantages?
https://bitcointalk.org/index.php?topic=130544.0

Will Bitcoin be replaced by another cryptocurrency?
https://bitcointalk.org/index.php?topic=1502768.0

Will Bitcoin replace Fiat by 2030?
https://bitcointalk.org/index.php?topic=1540304.0

Use the search function before you open another discussion about the same topic.

[MMysterious]

I don't think it could replace other forms of money however it is possible it would be added as another form of currency based on its demand right now. It is higly possible in my own opinion..

[matuson]

Maybe it will ever happen, but it will definitely not soon. We ourselves are to blame. People keep bitcoins as deposits, and such actions create from the bitcoin bubble. The main purpose of bitcoin is a currency is required. When will be the turnover and development.

[DoublerHunter]

I don't think that bitcoin will replace the other forms of money because that is impossible because if the years will just go and pass then we will realize that the supply of bitcoin and even the current supply of bitcoin as of now is not good for a lot of population and it is just limited to 21 million people, if we will talk about 1:1 ratio.

[A1exander]

I don't think so. There are many forms (if you consider bitcoin a form of money, gold and silver bullion is also one of them) and in some countries cash is used almost exclusively and even debit cards are extremely rare. Replacing all these forms is impossible in near future.

[drzed]

I am new to this but am starting to get interesting in Bitcoin (and doing some reading). I do not see how Bitcoin could replace money simply because of the scale. I probably do not understand blockchain but wouldn’t the vast number of transactions would make the blockchain grow so big that it ground to a halt (or transaction fees became so big as to make it not worth it)? Anyone explain simply to me how it would all scale to operate like a currency. Is it possible?

[Rishabh riyz]

With the huge increase of users and growing acceptance across the globe  we can say that bitcoins have a great future and would most probably replace other forms of money.
BItcoins is gaining it's value over long term attracting many investors and traders .
People after knowing the advantages of bitcoins would surely strategy investing in them and also using the as a currency.

[Snow-Cloud]

Yes it could, replacing money with bitcoin could increase its popularity and its value. However, by replacing it to a taxed form of transaction, bitcoin could develop or implement a tax if we are having a transaction to other people or country. But if this happens, banks would still be there but in addition there may be banks for bitcoins as well. If that happens, it would or wouldn't make things easier. Cause we only have to convert bitcoins to bitcoin banks and also, we still have the bitcoin it self as a legal to all country in the world.

[Kakmakr]

Bitcoin is currently too expensive to use. You cannot do micro payments below $1, because the fees are too high. Yes, there are some people that are doing SegWit supported payments with fees below $1, but this is not the standard fees. Your third world countries will never replace their local fiat currency with some other currency, where they have to pay these high fees. < Most other currencies are much weaker than the US Dollar >

Fix this and you might see Bitcoin replacing currencies like the Zim Dollar. ^smile^

[justspare]

In my opinion this will be delayed because it has not yet passed on to all the internet.But later on it could be done in a few countries which have great development with technology.

This will be delayed obviously as the majority of countries don’t have this service and even it has not prevailed to all the internet users. There is a small proportion of internet users that know about this. So ultimately it will take so longer to replace any kind of other currency.

[steamon]

I do believe in the near future we are gonna switch over to payments that are based on blockchain technology at least. If the government accepts Bitcoin as a global currency that is still far away. They most likely wanna keep control. Under tight watching maybe you can see Bitcoin happening as a global alternative next to the local money of a country. Time will really learn in this factor. Of course, I want to see a solution like this happening. But the chance it will is pretty small.

[shimbark123]

I am believing that one of these days, bitcoin might replace other forms of money or the currency we are using at this point. Your cryptocurrency. All it takes is one invention that bitcoin might not require internet connection for transferring of money.

[BehindU]

Pretty sure that if Bitcoin would ever become our primary currency it would still take very long until that happened. It's still a pretty new currency and there's a lot of features needed we don't have yet

[YuginKadoya]

A possibility that bitcoin can replace other currencies are very big but it will surely be possible if the government would allow it, or if a country would surely replace their currency with bitcoin and if it is very successful then I think other country will surely be next if it goes well, bitcoin transaction can surely replace it but the fluctuation is very unpredictable that is why for now it can not replace the steadiness of other currency.

[layoutph]

Have you heard the recent meeting of Vitalik and Putin in plans of creating Russia's own crypto currency? China has a plans of creating its own too. So the answer to your OP is NO. Someday all nations will have its own crypto currency. So we can trade Bitcoin with altcoins and with different country's crypto currency.

[Nikola95]

In my opinion this will be delayed because it has not yet passed on to all the internet.But later on it could be done in a few countries which have great development with technology.

This will be delayed obviously as the majority of countries don’t have this service and even it has not prevailed to all the internet users. There is a small proportion of internet users that know about this. So ultimately it will take so longer to replace any kind of other currency.

It will take long, yes. But speed of growth rate of newcomers to BTC is constantly growing. I think we can expect in next 2 years more new BTC users than in last 5 years. Still there is long way to reaching some important world wide use, but again, there is nothing that can stop it.

[Ewox]

In my opinion I don't think Bitcoin or Altcoins will replace other forms of money because digital money is different from fiat money. Bitcoin is although a type of currency because it is money if converted so that may be the reason why some think it could replace other forms of money.