Is there any chances Bitcoin can replace fiat currency?

[Mi5h0]

Hi guys is there any chances bitcoin will replace fiat currency.

You do understand this is 'Altcoin Discussion' section? Unless you consider fiat currencies as altcoins

[macchiato]

This question has been asked repeatedly. Fiat currency will never be replaced by cryptocurrency. Why? Because cryptos are unstable and are volatile. They are not meant for buying you groceries and such, they are for investments.

[crazyfrog01]

As long as crypto in general is a highly speculative object there is no chance to replace any fiat money with crypto in my opinion. I would't want to pay stuff with my bitcoin or whatever as long as I see a chance to have much more money tomorrow or next week if I keep it.

[Firbolko]

cryptocurrency has recently appeared in the world. while almost all purchases are for the currency. maybe in the distant future cryptocurrency and replace the currency but I doubt it

[shahani]

For me, it is very hard to replace fiat currency by using bitcoin, because bitcoin is a digital cryptocurrency and can only be used and accessed with the used of internet connections, and without internet connection, we can no longer use and access bitcoin, so for the remote areas it is impossible for them to use and access bitcoin. But if bitcoin implement and make a coin like a real money, maybe it is possible, but as long as bitcoin can only use by internet access it is very impossible to replace fiat currency by bitcoin.

[labake]

The answer to this question from my own opinion is absolutely no because there is no any physical form of it which we would be spending and the value would remain stagnant if it would be. Infact, BTC is not money but an asset from my opinion.

[boyshx]

Hi guys is there any chances bitcoin will replace fiat currency.

Why do we need to replace the fiat with crypto currency anyway. The business of government is going good, there is no problem with their traditional financial system for which fiat is at most important things to have. Now, again the question is why do we really need to replace this fiat? Will government allows to do that or in any way will there be scope for this or not? I guess no, because its not needed and that will just create more mess around the world and nothing else. The point is, traditional fiat has not been made with simplicity but complex structure of central to local banking system and thousands of people working behind it. You think that accepting crypto will be as easy as cutting the pie.

[bananadines]

I think it is hard to replace fiat currency. It is a long way to go until this will happen. The people are scared of bitcoin and the adoption will take a long, but I think one day more and more people will start to accept bitcoin as a payment method!

[Spaffin]

Hi guys is there any chances bitcoin will replace fiat currency.

I think that there are no such chances for bitcoins and can not be. There are several reasons for this. First of all, bitcoin, like any crypto currency, is too volatile. Moreover, I think that the more its value rises, the greater the amplitude of its price fluctuations. This is evidenced by the December increase in the cost of bitcoin to $ 20,000 and its subsequent fall to a level of about $ 6,000. With this level of volatility, it will be impossible to plan and implement the country's budget, bitcoin will unbalance the economy of any strong state.
In addition, switching to the use of bitcoin as the only means of payment will mean a strong influence of those states in which bitcoin will also be used as money.

[teejaymuna]

I think fiat currencies cannot be phased out. Physical currencies are very much needed which cryptos arent, yet. Also, cryptocurrencies still have some shortcomings (transaction speed, in-palpability, transaction fees etc.) which make it incomparable to fiat currencies and except these and many more are worked on, cryptocurrencies will not replace fiat currencies.

[nawosecad68]

I think bitcoin will not replace the fiat currency. Bitcoin does not aim that way, bitcoin becomes an alternative payment method with internet network.

[balrog]

In theory , it is possible for bitcoin to replace fiat currencies in a very long term perspectives and with absolute support from all mankind , but most likely it will not happen . Fiat currencies are regulated and issued by governmetns and thats the way how they make their global business , they will not give way to somewhat they can't totally control to replace it . Now , everything moving to cryptocurrency recognition as securities and I'm not satisfied with it .

[eaLiTy]

Hi guys is there any chances bitcoin will replace fiat currency.

How on earth it is possible to replace fiat currency by bitcoin, we can use bitcoin in international trade and hopefully we will see a time when we use bitcoin to trade on a global scale ten years from now, replacing fiat currencies around the globe is not a possibility as you cannot have every country having the same economic situation, we need both system to prevail in tandem .

[Haunebu]

Hi guys is there any chances bitcoin will replace fiat currency.

I think that there are no such chances for bitcoins and can not be. There are several reasons for this. First of all, bitcoin, like any crypto currency, is too volatile. Moreover, I think that the more its value rises, the greater the amplitude of its price fluctuations. This is evidenced by the December increase in the cost of bitcoin to $ 20,000 and its subsequent fall to a level of about $ 6,000. With this level of volatility, it will be impossible to plan and implement the country's budget, bitcoin will unbalance the economy of any strong state.
In addition, switching to the use of bitcoin as the only means of payment will mean a strong influence of those states in which bitcoin will also be used as money.

I agree with you completely. The extreme volatility of Bitcoin is the primary reason why crypto will never replace FIAT. Personally, I have faced hassles on multiple occasions while making online transactions through Bitcoin. I don't think crypto will ever replace FIAT, but Bitcoin will serve as an alternative payment method. With upcoming features like the integration of lightning network, mass segwit adoption etc, more and more people will utilize Bitcoin as an alternate payment option.

[cepot9]

it is difficult for bitcoin to replace the flat currency, because first it is difficult for parents or people who do not really understand the internet, second if bitcoin replaces the flat currency then the local money from the country will be destroyed and difficult to set the exchange rate, the third bitcoin is easy to use transactions long distance but difficult or it will be long if we buy in a small shop. bitcoin opportunity for me to replace the flat currency has not been there but bitcoin development is needed by people who use the internet for business

[ariscan]

For me Fiat currency can not be replaced with cripto currency. because bitcoin only aims for payment. if it can be a bitcoin to replace the currency of Fiat certainly the government will rethink or review again. even if it happens many people do not know how to pay in bitcoin. let alone parents who are blind to the internet.

[suburban123]

There is no global financial management that limits or increases the number of Bitcoins available, unlike conventional currencies, which can be managed by central banks. There is less uncertainty associated with this, since Bitcoin can not be used to control inflation or economic growth. Perhaps we are on the threshold of something very great and important. But while not everyone is ready for this, and if they are ready, we can face very great difficulties in the process of fighting for a change in the world monetary system.

[meldrio1]

maybe there is a chance but I think not just bitcoin but all cryptocurrency can replace in fiat currency, it will happen in the next generation I guess.

[jyotianand01]

In my opinion, it is not possible in near future that bitcoin replace fiat currency as bitcoin is not available and accessible everywhere because it is a digital currency and it can be accessed through internet only. If there is no internet where you want to use bitcoin then it has no value but fiat currency has its full value every where.

[nata777]

Hi guys is there any chances bitcoin will replace fiat currency.

I think that he has all the chances of becoming an international currency for the whole world