Will Bitcoin Accelerate the End of Fiat Currency?

[BitcoinMaster555]

Yes, I think Bitcoin is the best alternative of a fiat currency. However, it is not very easy but it is not impossible. Hopefully we will reach that level in the future.

[kemonojim]

Bitcoin was not created to replace the national money of each state, but as an alternative to them, as the best supplement, and not as a substitute for them. Bitcoin and other decentralized crypto currencies can only be aligned with national banknotes from various states and will not replace them in the future.

[Wittycoin]

As time goes by and as crypto little by little being known or exposed to the world, people now are putting their fiat money into cryptocurrency and this could really accelerate the end of fiat currency, but I think that the government would not easily let that happen because government always backs the fiat money and as we know that cryptocurrency is decentralized.

[bitbunnny]

No, fiat currencies will not disappear. That wasn't even the idea of crypto concept. They are here to be a kind of alternative to fiat currencies and some other option available based on a different technology.
But no country will give up their national currency and besides cryptocurrency can't be mainstream and serve as a pillar in economies for many different reasons.

[DanielJacob]

Bitcoin has a great future ahead. I hope that someday it will run side by side with Fiat money. It doesn't need to be backed up by gold as it already holds a great value. It is the future to the digital transaction system of the world.

[bitcoinhero777]

If you change the fiat currency, then any other currency can have a worldwide impact, but it is Bitcoin. Bitcoin has a whole worldwide framework where you will be able to trade from any part of the world.

[CryptomartN]

This will be a rather very difficult thing for Bitcoin to do. It cannot end the existence of fiat. How does Bitcoin intend to do this? No country or government will be willing to give up its fiat currency for Bitcoin.

[Baofeng]

No bitcoin or crypto for that matter won't make fiat disappear, but it could be a good alternatives. Just look at how Venezuelan's adopt crypto because its fiat has been hyperinflated. Even Japan, who embraced bitcoin is not discounting their Yen. And as long as there are government and central banks, fiat will exist. There might be cashless society in the future but it doesn't mean that fiat will be totally eliminated and out of the picture.

[nick_nick]

Listen to this episode of the BitcoinNews radio show. We discuss how fiat currency is going to inevitably collapse due to debt and money printing, and we strongly advocate using Bitcoin since it’s the best alternative to fiat.

https://anchor.fm/bitcoinnewscom/episodes/Bitcoin-News-Radio-Show--14th-August-2018-e212tc

Also read... Will Bitcoin Accelerate the End of Fiat Currency?

Bitcoin has worldwide infrastructure and demand, giving it value anywhere you are on Earth. It is a solid alternative to fiat currency with a fixed supply, so it won’t ever be devalued by money printing. There is no central organization leveraging Bitcoin to pay for budget deficits, unlike all the fiat currencies.

The mere fact that Bitcoin is a true alternative to fiat currency may very well accelerate the worldwide collapse of fiat currency some economists have predicted, including the US dollar.

Full in-depth analysis https://bitcoinnews.com/will-bitcoin-accelerate-the-end-of-fiat-currency/

Bitcoin Is Better Than Gold

Ultimately, if fiat currency collapses it is clear that Bitcoin is in a much better position to become the top global currency, due to Bitcoin’s advantageous characteristics. This makes Bitcoin much more ideal for international commerce and finance than gold.

Read more at https://bitcoinnews.com/bitcoin-is-better-than-gold/

I think the articles and radio show explain perfectly how Bitcoin will be the dominant currency in the future, and are good to show to people so they understand why Bitcoin is so important.

Bitcoins can contribute to the reduction and under reliance on fiat currency but to collapse it is seemingly impossible. Lets not forget about the fact dealing with bitcoins and other cryptos is only possible at the presence of internet connection. We still have people with little or no knowledge in the internet, let alone talking about blockchain and other technical words.

[CryptoBry714]

BTC earn it's popularity because of being decentralized and transection fee less. If by BTC people can pay anywhere and can buy anything then it will be totally replace the fiat.

[coinwizard_]

Global domination by bitcoin and other cryptos is inevitable. All we are waiting for is a successful transition by venezuela to prove that it can be done, then other countries will follow. Once the petro is accepted globally for trading oil, the price of all crypto will rise.

[IndigoRed]

But wasn’t bitcoin designed to be a virtual currency? It’s decentralized feature alone, will solve many issues in payment, transactions and ownership. I heard it really is the future goal for us to have an alternative currency, anyway. A virtual currency is safer and more efficient. Plus, don’t you think it’s more convenient to go cashless?

[joerogers8]

In my honest opinion I think the elite have created Bitcoin and made us all believe we did it.  In the end they will have the perfect tax tracking device and to anyone looking we did it all to ourselves!

[biskitop]

no
if an asset can beat fiat, then gold should have beaten it earlier than bitcoin. we must be able to see the difference between a valid and approved state transaction tool, and a valid asset or barter tool. fiat is a state identity and economic condition, how the economy grows because everything is also calculated from the fiat exchange rate on the currencies of other countries. whereas bitcoin cannot do that.

[butterflies04]

Unfortunately I think the fiat currency is here to stay.  I do not know why the central bankers would give up this power.  I thin they are going to try to regulate Bitcoin to a slow death.  I don't think it will work. 

[quynhtran722]

Bitcoin fans do not completely lose faith in the institutions created by mankind. They just do not choose to believe that humans can keep their promises. According to Satoshi Nakamoto, who or a group of people believed to have created Bitcoin, pointed out "the core issue of the currency is that people are forced to believe that it can work."

That's not to idolize Bitcoin. High likelihood is that Bitcoin can never be used as a money to buy meat on the market because of its wildness, but Bitcoin can be a valuable asset for later sale.

[magneto]

Listen to this episode of the BitcoinNews radio show. We discuss how fiat currency is going to inevitably collapse due to debt and money printing, and we strongly advocate using Bitcoin since it’s the best alternative to fiat.

https://anchor.fm/bitcoinnewscom/episodes/Bitcoin-News-Radio-Show--14th-August-2018-e212tc

Also read... Will Bitcoin Accelerate the End of Fiat Currency?

Bitcoin has worldwide infrastructure and demand, giving it value anywhere you are on Earth. It is a solid alternative to fiat currency with a fixed supply, so it won’t ever be devalued by money printing. There is no central organization leveraging Bitcoin to pay for budget deficits, unlike all the fiat currencies.

The mere fact that Bitcoin is a true alternative to fiat currency may very well accelerate the worldwide collapse of fiat currency some economists have predicted, including the US dollar.

Full in-depth analysis https://bitcoinnews.com/will-bitcoin-accelerate-the-end-of-fiat-currency/

Bitcoin Is Better Than Gold

Ultimately, if fiat currency collapses it is clear that Bitcoin is in a much better position to become the top global currency, due to Bitcoin’s advantageous characteristics. This makes Bitcoin much more ideal for international commerce and finance than gold.

Read more at https://bitcoinnews.com/bitcoin-is-better-than-gold/

I think the articles and radio show explain perfectly how Bitcoin will be the dominant currency in the future, and are good to show to people so they understand why Bitcoin is so important.

I honestly don't think that bitcoin is going to completely replace fiat currency.

Even if governments decide that they want to support cryptocurrencies, they will only support those that allow them direct control over the economy. For example, we can already see this with the Venezuelan national cryptocurrency of Petro.

The advantages of bitcoin over fiat and even gold is quite obvious in my opinion, and everyone knows that. It's just that the governments and the central banks will simply be unwilling to give up such degree of control over the economy. Bitcoin will probably be the dominant global currency in the future for e-commerce and store of value, but individual fiat currencies will still exist imo.

[liripoop]

Last day I forget to carry my wallet when I am going to my office. At middle of my destination I remembar that and then I feel that I need to drink a cup of coffee but I haven't my wallet. Then I think if i able to pay for coffee by BTC it will be more helpful for me and then I not need to carry my wallet which contains fiat.

[RomanPetrush]

For sure, there will be no the end of Fiat. Blockchain just gives better technology to count the e-money in our world system. There so much imagination about that, but everything will be the same, but with blockchain.

[ChrisPop]

I believe that cryptocurrencies will co-exist with the fiat currencies a few years from now, but once the crypto dominance gets to a crazy rate, the logical and cost efficient way for governments will be to dump the fiats and focus entirely on new technologies.