Is the presence of Bitcoin able to wipe out cash?

[Sarah08]

For me i have two opinion, first it is able and not impossible for the bitcoin to eliminate and wipe out cash because of the demand of the people and the want of the people to make their work more easy, but it will only happen if the government will allow it, now if the government didnt allow it for sure it will be in middle bitcoin and cash will be seperated and the cash has no possiblity to be wipe ouy because the government will be the ones will suffer. For the conclusion it depends to the order.

[Anndrianno]

I'm a big fan of BTC, however, I'm afraid that it still has a long way to go before it will actually be able to replace cash and fiat money. There are various reasons for that: the most clear ones are the high value of BTC and the limited amount of coins in circulation. Though I still hope that it will happen one day

[hasmukh_rawal]

As it is famous today. that Bitcoin is the solution to the weakness of cash. Many people are switching from cash and using Bitcoin.
If this continues to happen then the cash will be destroyed.
what do you think about it?
will Bitcoin be replacing cash?
what if the cash impact is no longer used?

No, I dont think Bitcoin is the solution to the weakness of cash, infact bitcoin was introduce in respect to strengthen the country official currency. keep in mind that Bitcoin is a digital currency which is decentralized and Cash is a official currency and it is governed by the Nation's government parties, and so it is not possible to replace the Official currency with digital currency because we dont have any type of control over it. Bitcoin can be made as optional payment if they want to do so, otherwise its not possible to replace cash which is the main stream of payment in all the countries.

[Lintel]

I do not think that bitcoin will replace ordinary money. The price for one coin is too high and it is used mainly as an investment, and not as a currency for small purchases.

Yes I do agree with you. I don't bitcoin will replace cash. The reason why people are using bitcoin because we can earn extra income and we can conver bitcoin to cash. We can use bitcoin to purchase online stuffs, pay bills through coina.ph wallet but it doesn't mean , bitcoin will replace cash. For me bitcoin is more on investment .

[MFY151]

As it is famous today. that Bitcoin is the solution to the weakness of cash. Many people are switching from cash and using Bitcoin.
If this continues to happen then the cash will be destroyed.
what do you think about it?
will Bitcoin be replacing cash?
what if the cash impact is no longer used?

I'm sure there will be some point that bitcoin and cash options will reach a equilibrium and not totally removed one another. Still there are a lot of convenience that cash offers that bitcoin will not be able to provide and cash somehow became part of society and different civilizations since ancient times that adapted to changes up to this day. That is why I can't see bitcoin's purpose and capability as to totally make cash obsolete.

[BurstIncomeAsset]

You cannot pay taxes, for example, with bitcoins, so there always will be cash or some kind of centralized money.

The world is on the way of a cashless society, the banks the government and the elite in power all want it, but of course it won't be bitcoin because it is decentralized

[Sowik]

Havent heard of nobody that has switched cash for Bitcoin only lol. Where will he spend it Cant pay bills with BTC yet.

[googlebtc]

I find it very difficult if bitcoins can replace currency positions in every country because every government has a very stable potential with its currency and if we compare it with bitcoin very far with its anonymous, and indeed bitcoin is very well known in some countries and can be a solution for economic growth. But bitcoin is very difficult to change currency

[BitcoinsGreat]

As it is famous today. that Bitcoin is the solution to the weakness of cash. Many people are switching from cash and using Bitcoin.
If this continues to happen then the cash will be destroyed.
what do you think about it?
will Bitcoin be replacing cash?
what if the cash impact is no longer used?

I don't think bitcoin can take place money. Since the price is high for 1 bitcoins, and on the top not everyone aware about bitcoins. It only happen when media and world start supporting bitcoins and begin to legally adopt bicoins. Unless it is not adopted legally and openly by the governments this dream of replacing cash will remain only a dream.

[Netnox]

I don't think so. Because it is difficult to believe that Bitcoin will be able to achieve something which Visa/Master/PayPal failed to achieve. Not that I am having doubts regarding Bitcoin's capability. But I believe that Bitcoin and Physical cash serve different purposes.

[Lanatsa]

As it is famous today. that Bitcoin is the solution to the weakness of cash. Many people are switching from cash and using Bitcoin.
If this continues to happen then the cash will be destroyed.
what do you think about it?
will Bitcoin be replacing cash?
what if the cash impact is no longer used?

Possibilities is always there and we can see the indications but knowing this chances would really be slim on bitcoin to wipe out traditional fiat currencies which is being used for how many years already or since on the beggining of time where people tend to use first fiat local money.It cant really be replaced easily by an 8 year old digital coins specially government not all supported on its existence which we  can really assume that it would be hard to believe for this thing to happen.

[smartbitcoininvestor]

No, most likely not. Since the value of Bitcoin is ever-increasing and dependent on both demand and supply (which in this case is a shrinking constant), people are going to buy and save their Bitcoins as an investment. Even though they can, people in the future are most likely not going to be spending their Bitcoins on groceries, but will be saving them in their vaults and IRA's.

It would be like going to the supermarket with a few gold bullions, and a gold chain.

Overall I will say that I can see Litecoin or Ripple (or even Dogecoin) used primarily for transactions as opposed to investments.

[darkangel11]

I'm a big fan of BTC, however, I'm afraid that it still has a long way to go before it will actually be able to replace cash and fiat money. There are various reasons for that: the most clear ones are the high value of BTC and the limited amount of coins in circulation. Though I still hope that it will happen one day

It doesn't have to replace cash, they both can coexist.
Cash has its uses and fills the niche that BTC will never be able to and that niche is total anonymity. BTC is and will be traceable, while cash is not. Cash can be manipulated by the governments since it's issued by them, but it can be used in very remote areas, where there's no electricity, internet and cellphone reception.

[bamboylee]

As it is famous today. that Bitcoin is the solution to the weakness of cash. Many people are switching from cash and using Bitcoin.
If this continues to happen then the cash will be destroyed.
what do you think about it?
will Bitcoin be replacing cash?
what if the cash impact is no longer used?

Cash started to be phased out when credit cards came into existence. Now, most of the people shop without bringing cash into them. Maybe, someday bitcoin can achieved that status. Bitcoin will be the main payment method in any transaction we make. But if you mean by cash as fiat, then I do not think fiat will be totally replaced. Government will fight for it to stay.

[samuraijin]

bitcoin can not remove currency in every country because in every government have stable currency instead of bitcoin which sometimes price up and down so that difficult to be their currency, we also already know bitcoin is very famous in various countries which have use bitcoin as solution to change the weakness of the global currency but it is very difficult if bitcoins are made in official currency or replace their own currency

[iram3130]

Depends on which country you're living in. It may be possible in some countries but for third world countries, it's really hard to accept the fact that a cryptocurrency will take over fiat. People need to understand the problems with Fiat and know the values of Bitcoin.

[brickafterbrickwalldpt]

Not plausible. Bitcoin is designed as an option, not something that could replace normal currency, as it would be really inconvinient. It's also decentralized and goverments don't have control over any cryptocurrencies, so unless we're going to see Skynet unleashed before us, it's not really something that would happen.

[filharvey]

Definitely,bitcoin will not replace cash.Total number of bitcoins is only 21 million.Only countries suffering from severe financial crisis and having their currency collapsed use bitcoin as their national currency like liberland.But other governments would not allow bitcoin to be fully used instead of cash.More over,people itself have started to see bitcoin as a valuable investment which could give huge returns and they are not interested in spending bitcoins as a currency.

[stompix]

I do not think that bitcoin will replace ordinary money. The price for one coin is too high and it is used mainly as an investment, and not as a currency for small purchases.

Why do you base your assumption on the price of one BTC.
How much is a satoshi? $0.0000417840
Is that also too high?

For me it can't bitcoin can't wipe out the cash. The cash or ordinary money is can't be replace because all people in this earth are using cash and not every buddy knows the bitcoin.

False , check Sweden. Cash is becoming useless there with more shops declining cash than accepting it.

Definitely,bitcoin will not replace cash.Total number of bitcoins is only 21 million.Only countries suffering from severe financial crisis and having their currency collapsed use bitcoin as their national currency like liberland.But other governments would not allow bitcoin to be fully used instead of cash.More over,people itself have started to see bitcoin as a valuable investment which could give huge returns and they are not interested in spending bitcoins as a currency.

Same for you , there might be only 21 million bitcoins but each has 100 millions satoshis.

[colossus]

bitcoin in no way can harm to cash.