Bitcoin vs Fiat

[Bonpay]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

[1714915155]

1714915155

[fargoway]

Bitcoin is not able to replace fiat, at least now. I believe that there will be another cryptocurrency which would be able to replace traditional money because Bitcoin has a lot of issues as well. BTC is good, but it is too far from perfect.

Btw, I totally agree that Bitcoin is not an investment. It was created for other goals. Greedy people don't get that 

[Mary Birkin]

Bitcoin is not able to replace fiat, at least now. I believe that there will be another cryptocurrency which would be able to replace traditional money because Bitcoin has a lot of issues as well. BTC is good, but it is too far from perfect.

Btw, I totally agree that Bitcoin is not an investment. It was created for other goals. Greedy people don't get that 

Why do you think that BTC is too far from perfect?

[Sbdip]

I don't think so. Bitcoin can growmuchday by day for sure. But I don't think it'll be able to replace fiat. Because btc is acting morelike asset than the currency..  So without being fully accepted currency bitcoin won't be able to beat fiat

[Colan Zolo]

I think if fiat and bitcoin will continue side by side, for us who have learned technology and know about bitcoin will not refuse if bitcoin becomes a transaction tool other than fiat, but for those who do not understand bitcoin, they will refuse and certainly use fiat for their lives.
Many communities that will be technology but not all know about bitcoin, let alone to learn it is not necessarily want. They believe more in what they see and do not believe in digital technology which really has good benefits for the future.

[talkbitcoin]

it is impossible to answer your Poll because they options are the same. for instance my choice is "No" because bitcoin is not supposed to replace fiat and also "They can coexist" because not replacing means they both exist alongside and both work, fiat as the centralized currency that everyone knows and bitcoin as that additional option for decentralization.

[Bonpay]

it is impossible to answer your Poll because they options are the same. for instance my choice is "No" because bitcoin is not supposed to replace fiat and also "They can coexist" because not replacing means they both exist alongside and both work, fiat as the centralized currency that everyone knows and bitcoin as that additional option for decentralization.

Then I guess the right choice would be: "They can coexist". Anyway, thank you for noticing, I will make the poll more clear.

[Taki]

I guess you meant all crypto in general under bitcoin, course only bitcoin doubtly will replace fiat over the world, but crypto may do.
By my opinion bitcoin was made to free people from fiat and government's control. But when bitcoin began to cost over 1000$ everybody became interested in it and now all countries fight to regulate it and turn on all benefits of crypto to work on government and its needs.

[davhek]

There was already a discussion similar to this, and IMO, there is no way BTC or any other crypto can replace FIAT. Not now, not in 10 years. Maybe in some further future but we are far away from it.
We will use cryptos for sure but not as a primary currency.

[Roberttran]

bitcoin is hard to replace fiat. Bitcoin needs internet to operate. And as I know many places in the world do not have access to the internet, many older people can not use smartphones smoothly (like my dad, my mother and my grandmother). It would be difficult if bitcoin replaced fiat.

[Bonpay]

I guess you meant all crypto in general under bitcoin, course only bitcoin doubtly will replace fiat over the world, but crypto may do.
By my opinion bitcoin was made to free people from fiat and government's control. But when bitcoin began to cost over 1000$ everybody became interested in it and now all countries fight to regulate it and turn on all benefits of crypto to work on government and its needs.

Well, you are right. The same way as the dollar is dominating among other fiat currencies, I assumed that Bitcoin will be the main, but other cryptocurrencies could be used too.

[fargoway]

Bitcoin is not able to replace fiat, at least now. I believe that there will be another cryptocurrency which would be able to replace traditional money because Bitcoin has a lot of issues as well. BTC is good, but it is too far from perfect.

Btw, I totally agree that Bitcoin is not an investment. It was created for other goals. Greedy people don't get that 

Why do you think that BTC is too far from perfect?

Because Bitcoin cannot complete some essential challenges in order to replace the fiat money. For example:

1) transactions last long (in comparison to Visa/Mastercard transactions)
2) high volatility
3) scaling

The main reason why I think there might be something better than Bitcoin is that cryptocurrencies are developing very fast and every day more and more solutions appear on the market. It is very common when something extremely new was invented which was only a prototype for a better version of it.  

[Bonpay]

bitcoin is hard to replace fiat. Bitcoin needs internet to operate. And as I know many places in the world do not have access to the internet, many older people can not use smartphones smoothly (like my dad, my mother and my grandmother). It would be difficult if bitcoin replaced fiat.

Yeah, I agree this is a major problem. Maybe the solution will be found in the future.

[norther90]

No chance for bitcoin to replace fiat currencies and become an instrument for payments all over the world,at least nowdays. So many problems yet to be solved and people to get used to crypto and particularly to IT technologies to make bitcoin a primal currency. In a far,far future when people replace classic cars with cars which can fly

[Bonpay]

No chance for bitcoin to replace fiat currencies and become an instrument for payments all over the world,at least nowdays. So many problems yet to be solved and people to get used to crypto and particularly to IT technologies to make bitcoin a primal currency. In a far,far future when people replace classic cars with cars which can fly

The progress is moving faster and faster every year, who knows, maybe in a few years you will fly on your car to a nice restaurant where you can pay with BTC.

[Alns]

I think that we are already to strongly stuck in the system that is present and it means that we need to change some things, bitcoin is a great alternative to existing systems.

[fargoway]

No chance for bitcoin to replace fiat currencies and become an instrument for payments all over the world,at least nowdays. So many problems yet to be solved and people to get used to crypto and particularly to IT technologies to make bitcoin a primal currency. In a far,far future when people replace classic cars with cars which can fly

Nobody believed in the Internet as well, but it spread very fast. Today you can hardly find a place without free wi-fi

[borovikovtopmen]

Fiat money will not leave our usual life but cryptocurrency will help to use them at a more modern level !

[bob123]

Because Bitcoin cannot complete some essential challenges in order to replace the fiat money. For example:

1) transactions last long (in comparison to Visa/Mastercard transactions)

Bitcoin transactions are final. Visa's are not.
If used in daily purchases (and proper implemented), accepting 0-conf payments is absolutely fine.
They are marginal slower than visa payments.

2) high volatility

Volatility will decrease with adoption.
The more people adopt bitcoin as a payment system, the lower the volatility will be which then again attract new user.

3) scaling

Scaling is taken off-chain.
With the LN all of these scaling-debates finally should have an end.

When LN is ready to be released and people are starting to use it, the average fee for your transactions will decrease.
And so will the confirmation time. You'll have instantly confirmed (not yet settled on the blockchain) transactions happening.

[odessit1377]

As if we did not want Bitcoin to replace Fiat's unfortunately the next few years, and perhaps even a decade, it would not be possible. Too firm dollar keeps its positions, at the legislative level bitcoin is not approved. Banks simply do not give up their domination.

[Juggy777]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

I'm often baffled as to why do people think bitcoins should replace fiat? whenever we trade bitcoins we trade it for fiat, so if bitcoins replaced fiat what would we trade it for? I do hope all remember bitcoins is limited fiat isn't. Bitcoins was formed to create a decentralised currency, so people would be free of government regulation, also so people could create it as a store value, never was it intented to replace fiat.

I believe the best option is all governments should allow the usage of bitcoins they can tax it, all sellers should accept it this would save loads of fees on cross border transaction. Even post taxes Bitcoins users shall earn more than their fiat peers.

Bitcoins should be given in tandem with fiat for salaried people, so they can choose it, and when it's prices increase they can benefit from it. (I can't reveal the name but one firm actually did it, and 9 out of 10 employees opted for bitcoins, this was when bitcoins prices were at 1k, all the employees made serious profits).

[Malintha1996]

In my opinion at least for few decades each should exist.Since there exist countries without internet access, accepting crypto currencies as global is still not possible. However in future but soon I believe fiat currencies will completely evolve into crypto currencies.

[Impulseboy]

No matter how much we want this to happen, I think that bitcoin and cryptocurrency should not replace fiat at all. I believe that the crypto world and the government/banking system can and will find a way for both to co-exist with each other. We do not know for sure if this will stay for a long time, but for now at least it has better chance of existing together.

[FlexBrah]

Most likely bitcoin was created as an alternative to the banking system. That it was all transparent and did not have intermediaries in its structure

[LeGaulois]

One of the theories is also to give a full control over our money and it's maybe the most important. To be free from the banking system and the governments. Unbanking all of us...

When you deposit money into your bank account the funds are not your anymore, you lend it to the bank with a promise to get it back whenever  you want (banking rules)
Nowadays we have more and more restrictions on how to use our own money. Try to go your bank and ask for $5000 cash, it's not possible or you have to call two or three days in advance. Try to withdraw $1000 using the ATM, this is not possible most visa cards have a maximum of $300 per day. So if an urgency comes up and you need money, you're fucked. More and more banks don't have cash money in the office anymore, only in the ATM.
Sometimes you even need to justify why you need to withdraw $1500, over $5000 transactions in the same month and your account details and history is sent to the financial police for an audit, for the sake of the AML.
There are also millions of citizens who don't have access to a simple banking service. No account, etc. And when I say millions I am not exaggerating.

When you say the role of Bitcoin is still unclear, is not totally the truth. It was clear but the community changed its role (aka using Bitcoin as an investment) yeah some guys will say "here we go again!"...

The ideal for purists would be to see Bitcoin totally replacing fiat but this will remain a utopia I think. The community killed this dream, with the lack of consensus, internal conflicts, and so on.
"They should both exist side by side": It could be possible of course. You can think about the unbanked people, or for the countries where they don't have many options to send cross-border payments. For example, Paypal is not available in all countries.
There is not any cryptocurrency which has to replace fiat other than Bitcoin. The reason is most of them are not designed to be able to totally replace fiat.

[BabyBoss]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

Yes, I believe on it it’s only need time to be done I believe in the power of bitcoin and I think in the next years as we experience more modern technology we also need modern currency and bitcoin fits on it.

[Leenkoranan]

Bitcoin composed as crytocurrency in terms of digital money, it used by transacting payment who undergo with internet function there are lots of difference than fiat, fiat is directly use as payment our daily needs without using internet transaction cos this is money..

[kamoto]

Well, I'd rather put some other decentralized currency instead of bitcoin. For example, the ethereum, which is much steeper in terms of coin technology. And in this case, Fiat has no chance, decentralized crypto currency will be much more convenient. But certainly not bitcoin, because it is not consistent as a crypto currency in general ...

[Xxmodded]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

of course bitcoin will not be able to replace fiat money. this is a fact, and until now we still carry out traditional transactions using paper currency. there is another possibility in the future, if crypto becomes pepolor in the future, it means that each country will have its own crypto currency. this is the most logical reason.

[r32godzilla]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

Actually bitcoin was not created to replace fiat and it was created only to provide a P2P platform for sending money instead of banks.But now,almost its traveling in a new track and has become the highest ROI giving asset.

[khelan]

I thought bitcoin will win rise more and more but now days bitcoin is price reducing so fast that people again going towards Fiat rather than bitcoin investment and transaction

[Bonpay]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

I'm often baffled as to why do people think bitcoins should replace fiat, whenever we trade bitcoins we trade it for fiat, so if bitcoins replaced fiat what would we trade it for?

If Bitcoin fully replaces fiat then you won't need to exchange it. You simply can buy goods and services with it, so no intermediaries needed.

[thepers0n]

In my opinion BTC can take a huge part of FIAT money but won't replace it. The power of banking systems is still huge and governments don't want to lose it .

[Allan Ramanda]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

in my opinion the benefits of bitcoin for real life are very many, for example we can trade freely to gain profits, then send money out of the country using bitcoin. but bitcoin won't be of any use, if it doesn't have an exchange rate with fiat currency. the conclusion is that bitcoin and fiat have an important role in our lives.

[zilong123]

Nope I don't consider bitcoin as a fiat and if BTC will be fiat there will many conflicts and its complicated cause btc is volatile and changes of price of btc is fast so I think we should have fiat even in the future.

[Dadaro]

Some altcoin will definitely replace fiat currency in the future. It may not be bitcoin but altcoin will certainly do. Cryptocurrencies are just in it's baby stage, and currently starting for mass adoption. Give it more time and it will replace fiat.

[bob123]

When you deposit money into your bank account the funds are not your anymore, you lend it to the bank with a promise to get it back when you want (baking rules)

Exactly this.

People seem to have completely forgotten about this.
Most only see bitcoin as toy to get rich quick. But they don't understand the true value.

Look at Greece for example. They restricted the maximum amount of withdrawals to 50€ per day.
They basically held the money of their customers hostage. It didn't matter anymore how much money 'you had'.
In the end the bank had it all. And in the end, they decide how much you are allowed to withdraw at what time. And if they don't like your reasons to withdraw the money, they can easily freeze it.


With bitcoin as a global tool for transfer of value, all of these problems are no longer a problem. I definitely believe bitcoin will become a 'standard' form of payment. At least (or especially) on the internet.

[QuppyTeam]

FIAT will always be the number one in currency day-to-day usage. However, Bitcoin has all the opportunity to replace it, but, first of all, it has to be accepted and adopted worldwidely and open doors to use it in main places such as shops, for example

[Bonpay]

When you deposit money into your bank account the funds are not your anymore, you lend it to the bank with a promise to get it back when you want (baking rules)

Exactly this.

People seem to have completely forgotten about this.
Most only see bitcoin as toy to get rich quick. But they don't understand the true value.

Look at Greece for example. They restricted the maximum amount of withdrawals to 50€ per day.
They basically held the money of their customers hostage. It didn't matter anymore how much money 'you had'.
In the end the bank had it all. And in the end, they decide how much you are allowed to withdraw at what time. And if they don't like your reasons to withdraw the money, they can easily freeze it.


With bitcoin as a global tool for transfer of value, all of these problems are no longer a problem. I definitely believe bitcoin will become a 'standard' form of payment. At least (or especially) on the internet.

Perfectly said. People believe that they own their money until the government or a bank needs this money back.

[hachiman13]

I'd like to think of bitcoin as another option for payment, not a contender of some sort to replace fiat. There are pros and cons to using each one so I'd rather make them co-exist so whenever the time to use bitcoin comes up, I can utilize it and vice-versa.

[ailyn47]

It is still better to have both of this thing in our financial economy. However, the intention of everyone to make bitcoin as the new currency would be difficult to realize since we should have to consider all people in this world including the poor , middle and the elites.

[gabmen]

they are now both side by side.. but in the future strongly i expect that all big countries move slowly toward bitcoin and fiat will be forgotten
in that scenario.. the prices will grow insanely indeed)) will be amazing in that age after many people be involved into the game

Well not really forgotten. The future may very well be leaning more on the digital aspects when it comes to transactions but physical exchanges will never be without use. Now is fiat's time but as technology progresses, digital currency will have a boom in following and support.

[LeGaulois]

When you deposit money into your bank account the funds are not your anymore, you lend it to the bank with a promise to get it back when you want (baking rules)

Exactly this.

People seem to have completely forgotten about this.
Most only see bitcoin as toy to get rich quick. But they don't understand the true value.

Look at Greece for example. They restricted the maximum amount of withdrawals to 50€ per day.
They basically held the money of their customers hostage. It didn't matter anymore how much money 'you had'.
In the end the bank had it all. And in the end, they decide how much you are allowed to withdraw at what time. And if they don't like your reasons to withdraw the money, they can easily freeze it.


With bitcoin as a global tool for transfer of value, all of these problems are no longer a problem. I definitely believe bitcoin will become a 'standard' form of payment. At least (or especially) on the internet.

Yep. You can also think about people thinking their funds are safe in a bank account. But what about if the bank fails suddenly? You are fucked like a whore. In my country accounts are insured by the government up to $100k but what about if the government itself doesn't have enough funds, will they ask to the central bank to print a wagon of cash for free? What about people owning over $100k? Nothing. I doubt a lot of countries have such laws.

[PrissMCclen]

Well for me fiat is still leading but I believe the story will no longer remain the same in few years to come

[time2.coffee]

bitcoin is hard to replace fiat. Bitcoin needs internet to operate. And as I know many places in the world do not have access to the internet, many older people can not use smartphones smoothly (like my dad, my mother and my grandmother). It would be difficult if bitcoin replaced fiat.

In a nearest future seems that bitcoin transactions can be operated via SMS https://cryptocoin.news/videos/bitcoin-this-week-bitmain-collects-18-billion-in-ipo-bitcoin-transactions-by-sms-and-more-19023/

[chenczane]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

Please stop saying bitcoin can replace fiat. It will never be. Before you say this kind of thing, think first the status of a country. Many country are modernized, wealthy and successful. How about the countries that are not? There are things that fiat can do while bitcoin cannot. Is bitcoin globally accepted as a payment method? I believe not. So please, stop this and I have read many threads like this before.

[Soots]

it is impossible to answer your Poll because they options are the same. for instance my choice is "No" because bitcoin is not supposed to replace fiat and also "They can coexist" because not replacing means they both exist alongside and both work, fiat as the centralized currency that everyone knows and bitcoin as that additional option for decentralization.

Yeah, bitcoin really can't replace fiat at this time but what if the world will change 10 years after, and the usage of paper or manual transactions will be abolish? Then we have no options but to use bitcoin right? So in general we can't prevent the world wide adoption of bitcoin. The possibility is always there actually, and the system can be diverted from cash form to digital form. Although it's hard for the first time to change systems, but eventually people will adopt evenly.

[internetlift]

I believe that bitcoin can replace cashless payments, and cash will remain

[IamKnowledge]

Fiat currency is far older than bitcoin, and we all know that. Bitcoin in era has come to support fiat currency and also fill its loopholes. with bitcoins online transaction has become easy and reliable. Moreover, it has been an investment avenue for some many people and has given them financial freedom. In a nutshell I can say that bitcoin has been a backup for fiat.

[CryptoCClendon]

Fiat over btc for now

[kojoannan]

Bitcoins was created to serve as peer to peer online remittance and it has nothing do with the problems that central banks are facing with their currency. Bitcoins serves a different purpose than the solution of governments debts.

[JennetCK]

The right term for this will be "CO-EXIST". We cannot say bitcoin can replace fiat in the future but they will gonna help each other. There are countries that still depends on fiat currency. Not all country can provide o sustain a technology that needed by bitcoin.

[jcarlo]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

I dont think bitcoin will replace fiat money. Bitcoin is global cryptocurrency and every country have their own regulation about currency. Bitcoin system can be used for new monetary system by government. Bitcoin can be used as global cryptocurrency and store of value like gold

[Roksodhon]

Currently bitcoin only recognised as one option to invest. Nowadays people are still comfortable using fiat money. Crypto world currency or bitcoin if wish to accept as currency should at least have a better platfoam and more save.

[primejia]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

indeed the world needs a single currency and cannot be monopolized or controlled by any country, and I think crypto currencies are very potential to become a single currency, and there will be no more countries experiencing hyper inflation because all currencies in the world are the same. So, there must be a common desire of all countries to change if they do not want a large country that can monopolize currency circulation, and all countries must support the use of digital currencies. I think this needs to be fought for.

[rutherford]

I would rather choose bitcoin and fiat to exist side by side just like now, because not everyone could have access to bitcoin, so if bitcoin replace fiat then what about people who can't access it. It would be a disaster because they would protest. So it's better if bitcoin and fiat live side by side.

[bubidan.id]

I just have another statement. In my opinion, Bitcoin is suitable as a value transfer tool with large numbers between countries or cross borders. the point is Bitcoin is very useful for the transfer of assets or wealth which if done using fiat will require a lot of time and money.

[robertsu]

Redistribution  of wealth is a possible. The idea not a new. In the world a really we can to see a procession of the wealth a distribution unfairly. The cryptocurrency can to change a financial system but I think the Bitcoin can't do this.

[Cacaparg]

we must look at the situation in general, we have to ask - is it possible and will it be reasonable in global sence  crypto industry replace fiat money turnover? becase bitcoin is not best coin  to be a global cryptocurrency (only to my mind)

[ClassyDancer]

It may be a challenging path ahead for bitcoin, but with its structure and beneficial features, cryptos cannot be ignored. With blockchain alone demonstrating so many advantages, why should we deny that? Bitcoin’s structure is better than fiat. The technology already is there. We just need to wait for the world to adopt it. Do you agree?

[basyang]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

In my own opinion, Bitcoin is one of the popular cryptocurrency nowadays and it is not far that it can be useable currency in our days but it can not replace physical money though. Bitcoin has a limitation and advantage, its advantage is it can be a universal currency in the world of internet bit it has a limitation, it can not immediately replace the fiat because many people could against to it. Just let it be in where it was and trust tje process.

[aray80]

Bitcoin is a good alternative to existing systems and also we have full control over bitcoin for every transaction process that is peer to peer, safe and easy...

[Olayinka225]

No...I  don't support bitcoin should replace fiat. Because it really goes along way to have a fiat currency and also a cryptocurrency as well. Because as people are fighting for a survival of fiat currency,  so also bitcoin will also be fighting for its own survival also and this also make it a boom and well know probably for a payment tool just like some fiat does.

[Missterio]

Bitcoin is just an e-currency. I think that they can not replace ordinary money.

[AfterHot542]

Yes it is right that both of them are currency but still fiat is more acceptable than bitcoin only because fiat is known to all and also everyone believe on it.

[Bonpay]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

Please stop saying bitcoin can replace fiat. It will never be. Before you say this kind of thing, think first the status of a country. Many country are modernized, wealthy and successful. How about the countries that are not? There are things that fiat can do while bitcoin cannot. Is bitcoin globally accepted as a payment method? I believe not. So please, stop this and I have read many threads like this before.

This was not a statement but rather an open question. Sure, it is impossible for Bitcoin to replace fiat now or in the nearest few years, but what about the long-term perspective?

Yes, Bitcoin is not globally accepted as a payment method. I guess it is not even on its halfway. However, if we take a look at the progress Bitcoin made since it was launched – it has good potential.
Yes, Bitcoin cannot do a few things that fiat can do, but who knows, maybe in the future Bitcoin will go through some changes and will be able to cover them. It is the question of future development and as far as a lot of people are interested in this – it will be done.

[shendy]

I think bitcoin has a pretty good development and certainly has better potential. Seeing the potential of the real world has begun to be drained by the greed of humans, we now explore the world of crypto.
The slow pace of the world of crypto is eyeing and certainly, bitcoin is a well-known currency and will continue to be hunted. Bitcoin and fiat will remain side by side to see many who still prioritize fiat in everyday life. And bitcoin remains the digital currency used on the internet.

[Bonpay]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

indeed the world needs a single currency and cannot be monopolized or controlled by any country, and I think crypto currencies are very potential to become a single currency, and there will be no more countries experiencing hyper inflation because all currencies in the world are the same. So, there must be a common desire of all countries to change if they do not want a large country that can monopolize currency circulation, and all countries must support the use of digital currencies. I think this needs to be fought for.

This is a great goal to achieve. However, right now it sounds very "utopian" even for the most optimistic crypto-enthusiast.

[jeromix]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

Bitcoin is different from fiat currency. One should not consider to compare between the two because we know that fiat is better than bitcoin. However, there are some areas that bitcoin has an advantage and fiat does not have. Anyway bitcoin should not replace fiat because in some areas of a certain country had some difficulties in accessing internet and aside from that some people in the rural areas do not know how to use gadgets and computers to access cryptocurrency system. They usually trade their local products with fiat as a medium of exchange.

[Ains_sama]

according to the creation of bitcoin that is used to solve problems from real or national currencies. Bitcoin should be able to work with real currencies, for a transaction that is easily transparent and with a small fee without
centralized rules. but due to decentralization, Bitcoin is converted into a trading asset and loses its true function. should bitcoin replace real currency? I don't think so, because it will be unstable for an economy and financial state.

[giantrobot]

In the future perhaps money will play an important role in world transactions. However, I want Bitcoin and Flat to exist in parallel. Personally, I am in a country that is not poor but not as developed as other countries. I see the possibility of developing in my country is too slow, so the poor countries will deal with the virtual currency. Now the problem is that Bitcoin prices are low, so do not worry about these unnecessary issues.

[BigBos]

according to the creation of bitcoin that is used to solve problems from real or national currencies. Bitcoin should be able to work with real currencies, for a transaction that is easily transparent and with a small fee without
centralized rules. but due to decentralization, Bitcoin is converted into a trading asset and loses its true function. should bitcoin replace real currency? I don't think so, because it will be unstable for an economy and financial state.

well, bitcoin might be very similar to fiat, but actually there is a big difference in this. where bitcoin is used to speed up transactions on the internet. but, now the price of bitcoin is very unstable, and makes most people use it as an investment tool. yeah, and that's really different from fiat.

[maskeffec]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

Accepting crypto currency as a global currency at this time is still not possible, because this technology must be supported by sophisticated equipment and support from the internet, this is difficult because not all regions have sophisticated equipment and support from the internet. but there are other possibilities in the future, if crypto becomes pepolor in the future, it means that each country will have its own crypto currency. this is the most logical reason.

[EoNs_COIN]

who knows what will happen over years time but my money is on bitcoin becoming an alternative payment method at the checkout thats what we all want

[jhony525525]

we know that this world will not move with out fiat so both the crypto and fiat will move together and it is good because we know that illiterate will not able to use crypto as payment tool.

[EventChain]

I think bitcoin is very slow to compare with fiat.
In cryptocurrencies world, I see one token can be replaced for fiat. That is XRP.

[mob01]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

I'm often baffled as to why do people think bitcoins should replace fiat? whenever we trade bitcoins we trade it for fiat, so if bitcoins replaced fiat what would we trade it for? I do hope all remember bitcoins is limited fiat isn't. Bitcoins was formed to create a decentralised currency, so people would be free of government regulation, also so people could create it as a store value, never was it intented to replace fiat.

I believe the best option is all governments should allow the usage of bitcoins they can tax it, all sellers should accept it this would save loads of fees on cross border transaction. Even post taxes Bitcoins users shall earn more than their fiat peers.

Bitcoins should be given in tandem with fiat for salaried people, so they can choose it, and when it's prices increase they can benefit from it. (I can't reveal the name but one firm actually did it, and 9 out of 10 employees opted for bitcoins, this was when bitcoins prices were at 1k, all the employees made serious profits).

Yes indeed I thnks they must be co-exist bitcoin cannot replace the fiat period.

[SUDARMONO]

I think it's true that until now bitcoin has not been able to replace fiat money completely, and I think it's very difficult to happen, it's better to look for other options

[Kamote_1102]

I don't think Bitcoin will replace Fiat. Because Bitcoin wasn't made to replace any currency. but to provide alternatives for the people. It is innovating our Economy and Financial stability. so replacing the Fiat defeats the sole purpose of Bitcoin at all.

[Ilegendph]

Bitcoin is not able to replace fiat, at least now. I believe that there will be another cryptocurrency which would be able to replace traditional money because Bitcoin has a lot of issues as well. BTC is good, but it is too far from perfect.

Btw, I totally agree that Bitcoin is not an investment. It was created for other goals. Greedy people don't get that 

I believe that it shouldn't because mining bitcoin requires more energy while other cryptocurrency can do it efficiently.

I don't think Bitcoin will replace Fiat. Because Bitcoin wasn't made to replace any currency. but to provide alternatives for the people. It is innovating our Economy and Financial stability. so replacing the Fiat defeats the sole purpose of Bitcoin at all.

For me, bitcoin shouldn't replace any flat but rather a new currency for online purposes. Its a better alternative in transaction online compared to paypal and other same services.

[renggileh]

cryptocurrency will never be able to dominate fiat currency, it was used much longer before bitcoin was created.
let bitcoin become an investment. bitcoin is a tool to make a lot of fiat money, in my opinion. everyone has a different view about this.

[mockcooleat]

As soon as the government recognizes the bitcoin as a legitimate digital currency that is the time that bitcoin will totally replace the fiat money. As we can see now slowly but surely the world is accomodating digital transaction and not needing a cash or fiat money involved with those kind of transaction, with this it proves that bitcoin and crypto currency will soon be in-demand and would be a part of our day to day transaction.

[Bonpay]

cryptocurrency will never be able to dominate fiat currency, it was used much longer before bitcoin was created.

Previously there were coins (golden, silver, etc.) which were used much longer before dollar was created. So this is a question of possible usability, but not how long we used it.

[LastKiss]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

I thought the source from well-known website but it's not lol  . It's not needed to replace FIAT money with bitcoin, I dont know what will happen in the future if this world using bitcoin as their payment with it's low/limited supply. Make it as our alternative payment will be the best for us at the moment, IMO.

[fargoway]

I thought the source from well-known website but it's not lol  . It's not needed to replace FIAT money with bitcoin, I dont know what will happen in the future if this world using bitcoin as their payment with it's low/limited supply. Make it as our alternative payment will be the best for us at the moment, IMO.

Bitcoin has more important disadvantages then just limited supply. Actually, I don't think it is a problem at all, but long transactions and too high cost per transaction are an issue.
Moreover, there are no reasons of having multiple currencies to pay with, because this is just additional troubles with exchanges, rates, ATMs, or even Banks if we are talking about fiat.

[djcounter]

As Bitcoin is useful also has disadvantages. It's true that one of bitcoin features is anonymity, but it can also be used in money laundering activities.

[izanagi narukami]

IMO, it can replace fiat because bitcoin is just an asset just like other investment tool like diamond,gold ,etc
Although I'm also expecting it can be legalize but it's impossible.
Remember that bitcoin still volatile !

[Chachen19]

Bitcoins have been around since 2008, but it's only a short time, but the bitcoin value is increasing over time and what they bring us is very useful. Fiat money can fluctuate. Commodity money is supported by something of value.

[131tc01n]

bitcoin is already known as crypto currency, I don't think this can be changed and does not need to be changed, if bitcoin becomes a fiat currency maybe the vision and mission applied by satoshi will not be realized, bitcoin is better to become crypto currency, bitcoin doesn't need to be more fiat both bitcoin is recognized for its legality in the world and various countries

[Bonpay]

bitcoin is already known as crypto currency, I don't think this can be changed and does not need to be changed, if bitcoin becomes a fiat currency maybe the vision and mission applied by satoshi will not be realized, bitcoin is better to become crypto currency, bitcoin doesn't need to be more fiat both bitcoin is recognized for its legality in the world and various countries

Oh, I believe you got it a bit wrong. The idea was to fully replace fiat with cryptocurrencies or only Bitcoin, so there will be no need in traditional money anymore. The vision of Satoshi was to provide people with safe p2p transactions which could be good for a new payment system, that's why this idea, in fact, follows his vision.

[QuppyTeam]

 Bitcoin will never replace fiat, fiat is number one for everyone, always

[Epimetheus]

Bitcoin is digital currency also know as electronic currency where as fiat currency is known as physical currency. Bitcoin is also known as decentralised currency which means it doesn't under control of any kind of government where as fiat currency are under control of government. Fiat currency can be duplicate but bitcoin cannot be duplicate because of its digital nature. Bitcoin is not a global currency because of its decentralised nature it is doesn't accepted everywhere but fiat currency is accepted is everywhere.

[ayambawang]

indeed, I know that BTC was created to become a digital currency that can replace the existence of fiat money which is considered a source of misery such as debt, for example, but in reality it is not easy, eliminating fiat currencies is not an option at the moment, it is very impossible to at present, what can happen for now is that btc and fiat money can run together and complement each other's shortcomings, even though that is not the main goal btc was created at least so we will get the benefits of btc in real

[Criptomen]

If bitcoin once can supersede Fiat, it will not be in the near future, the world is not at that technological level of development. Yes, there are countries where this is partially possible, but most are not ready for this.

[rosemary4u]

I think bitcoin and fiat currency should also exist side by side. Bitcoin can be used as a global currency for various business transactions and payment of services just like any  other fiat currency.

[josephdd1]

In the current time Bitcoin can't exist without fiat because bitcoin is relative to USD and at least for the nearest future one can't separate the two as different entities because BTC is very much depended on fiat.

[xWolfx]

I'm surprised by the amount of knowledge inside this community about what is the best way of doing this in the future.

Of course Bitcoin side by side with fiat will create the necessary ground for everybody to win and be happy, letting people choose what they want to use for payments and transactions instead of pretending to shove it down their throat. This are different times.

It's what the future demands, the ones who try to resist will find themselves wasting time.

[Xardasim]

I don't fully believe that we will use digital money which can't be managed in the future.
The first way is that every government creates its own digital money and use it instead of paper money. But it doesn't seem it will be free as Bitcoin does.
The second way is Bitcoin will be used, but the limits will definitely be used. Because, stability will be a necessity, so you can use it for daily shopping.

[IndoUSminus]

Bitcoin cannot replace fiat because Btc lacks some important features for that:
- stability;
- paper form for offline transactions;
- is not backed by gold.

[C0ld_Zero]

I dont think bitcoin can replace fiat money. Fiat monetary standards enable the government to have a lot of control of their economy.
They can choose to print progressively or remove some from the economy through banks. A cryptocurrency would need to be connected to their fiat cash and be absolutely controllable, for a government to permit it instead of their fiat, however that would essentially be a fiat at any rate. So we would require new enactment or new governments.

[shoreno]

both currency has a pros and cons . bitcoins is more slightly difficult to understand but it is packed by a lot of features that fiats cannot possibly do .

fiat on the other hand is more easy to use and understand because it has its own physical shape which means you can use it straightly anywhere you are  .

many people nowadays are going for cryptos because they are also curious on what it is and soon , there might be a probability that cryptos can dominate the entire currency system .

[Bonpay]

I dont think bitcoin can replace fiat money. Fiat monetary standards enable the government to have a lot of control of their economy.
They can choose to print progressively or remove some from the economy through banks. A cryptocurrency would need to be connected to their fiat cash and be absolutely controllable, for a government to permit it instead of their fiat, however that would essentially be a fiat at any rate. So we would require new enactment or new governments.

This is a very rational argument. I would assume that in such case the only possible solution would be both a new financial system and new enactment.

[fargoway]

In the current time Bitcoin can't exist without fiat because bitcoin is relative to USD and at least for the nearest future one can't separate the two as different entities because BTC is very much depended on fiat.

What? Bitcoin was created to exist without fiat. If sellers start accepting Bitcoin as a payment for goods and services, there will be no need in fiat money at all.

[isllander]

Some time they will move next. An example of cash is a number of cards. Some countries are already close to getting better with cash. New time is new opportunities.

[CryptoGosu]

At this stage of development, Bitcoin is much less popular than Fiat and it's harder to find a place where you can buy products for Bitcoin but Bitcoin is more like it and I would like it to become even more popular.

[HDContent751]

Fiat is the main currency in all over the world and it is the oldest currency and it will become very difficult to replace it because everyone strongly believe on it on the other hand bitcoin is a new currency.

[stiffbud]

Bitcoin is simply known as electronic currency which has no physical form where as fiat currency is known as physical currency. Bitcoin is a decentralised nature currency which does not under control of any kind of authority or government where fiat currency are under control of many government. Fiat currency are more stable then that of bitcoin and it is not complex as that of bitcoin. Fiat currency can be duplicate because of their physical form but bitcoin cannot be duplicate because of its digital in nature.

[*kimcil*]

I don't think this can be changed and doesn't need to be changed. If bitcoin becomes a fiat currency, maybe the vision and mission applied by Satoshi will not come true. Bitcoin is better to become a crypto currency. Bitcoin doesn't need to be more fiat. various countries.

[Bonpay]

Bitcoin is simply known as electronic currency which has no physical form where as fiat currency is known as physical currency. Bitcoin is a decentralised nature currency which does not under control of any kind of authority or government where fiat currency are under control of many government. Fiat currency are more stable then that of bitcoin and it is not complex as that of bitcoin. Fiat currency can be duplicate because of their physical form but bitcoin cannot be duplicate because of its digital in nature.

Yes, there are a lot of differences between them and that's why replacing fiat with Bitcoin sounds perspective. The only critical problem most of you admitted is lack of physical form of Bitcoin, but I believe that we can find a solution for this issue.

[CrucialTechnology57]

Right now it is impossible to replace fiat because bitcoin also need the support of fiat currency but literally it will replace and it take time long time.

[awosesun]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

Fiat still far ahead of bitcoin in many ways. Its crystal clear that bitcoin is still behind. If you say many country are in huge debt today, i won't disagree over that but they are in debt not because of fiat but a bad governance like the case of Venezuela. If Venezuela adopted bitcoin today, it won't take them out of recession or make them rich.

[Vladislav2306]

Bitcoin won't replace fiat completely. You can see it in reaction of some countries about cryptocurrency at all and bitcoin in particular. I think the countries will implement their own currencies based on blockchain technology to save the oportunity of taking taxes.

[Gonzaleti]

I dont think bitcoin can replace fiat money. Fiat monetary standards enable the government to have a lot of control of their economy.
They can choose to print progressively or remove some from the economy through banks. A cryptocurrency would need to be connected to their fiat cash and be absolutely controllable, for a government to permit it instead of their fiat, however that would essentially be a fiat at any rate. So we would require new enactment or new governments.

Bitcoin will not be able to replace fiat money, because banknotes are easy to use for payments and there is a physical form. For example, can you imagine school children using bitcoin? It will be difficult for small transactions such as buying candy, ice cream, buying pencils, etc. But for large transactions that use banking services can use bitcoin, because it is faster, easier, and cheaper. So bitcoin and fiat money can function together as a means of payment.

[Satish147]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

There is more chances for replacing fiat with Bitcoin. Right now most of the countries are already developing their centralized digital currency to benefit from Blockchain but they will fail after implementation. And then real Bitcoin adoption will start by reserving them with every countries reserves.

In this way Bitcoin will replace fiat.

[Spontebob]

it is impossible to answer your Poll because they options are the same. for instance my choice is "No" because bitcoin is not supposed to replace fiat and also "They can coexist" because not replacing means they both exist alongside and both work, fiat as the centralized currency that everyone knows and bitcoin as that additional option for decentralization.

Afterall, just like what you have said, the purpose of bitcoin is to be a solution if ever fiat bumps into problem. I don’t think bitcoin will ever replace local currency though. Probably because fiat is used by a lot of people and fully supported by the government compared to bitcoin

[Nilda]

Bitcoin vs. fiat vs. gold vs. banks vs. governments. All of these can coexist for everyone’s convenience. No need to discard something.

[joromz1226]

Bitcoin is not able to replace fiat, at least now. I believe that there will be another cryptocurrency which would be able to replace traditional money because Bitcoin has a lot of issues as well. BTC is good, but it is too far from perfect.

Btw, I totally agree that Bitcoin is not an investment. It was created for other goals. Greedy people don't get that 

This is just your opinion, but for me bitcoin was being used in many features, like in sending money, can be use as payment/electronic payment, and a kind of opportunity which can give profit to each in everyone of us, unlike in Fiat, there is no chance for us to earn it unless you have a job before you can have your own money.

[Zalaster]

10 years is a short time. This is not enough to replace fiat. In the future, I'm sure they will both exist complementing each other.

[block2point0]

Bitcoin and Fiat both are different because bitcoin build with blockchain technology and fiat is holding all world's economy so we can't say bitcoin will replace Fiat but now many new investors getting interested for bitcoin because of bitcoin price touched $20k dollars in December 2017. bitcoin is a new project and its take time to cover market but behind its blockchain technology can make new revolution to crypto world. bitcoin will be Global currency and people will use it for fast and bulk money transaction with minimum fee and this will stand front of other Fiat currencies. 

[fulled]

I think bitcoin will be alternative currency if fiat currency system in future be more safe and transparant, but if not, i believe bitcoin will be the main currency of the world, it will take atleast 50 years in from now in my opinion

[zeingrind777]

For me, Bitcoin and Fiat money must go side by side because not every store accepts bitcoin as payment. maybe in luxury supermarkets or restaurants, we can pay with bitcoin, but in a village that has a traditional market doesn't understand and doesn't even know about bitcoin and digital money. So, Fiat and BTC must have a balance

[mornabo]

In the current time Bitcoin can't exist without fiat because bitcoin is relative to USD and at least for the nearest future one can't separate the two as different entities because BTC is very much depended on fiat.

What? Bitcoin was created to exist without fiat. If sellers start accepting Bitcoin as a payment for goods and services, there will be no need in fiat money at all.

Thats right of course with that condition we will no longer need fiat if bitcoin can be used anywhere and anyone accepts payment with
bitcoin then of course people will be more comfortable transactions using bitcoin and fiat will no longer be used

[jzale]

I don't think that Bitcoin will ever replace fiat as a currency. In the first place, Bitcoin failed to function as what the creator intended it to be. Instead of being the lead of digital currency as a alternative to fiat, It became more of an asset, a piece for investment and home for manipulations. Bitcoin has a very long way to be able to function as what is intended for even within 20 years. Fiat has a more established foundation and has been the medium of transaction since the rise of civilization. Bitcoin is very volatile for a currency too. What I can see for now is that Bitcoin and fiat co-exists together.

[antonhuda]

It seems that bitcoin will remain a digital currency that will be used continuously on the internet world, and fiat money is still used in everyday life. We cannot bring bitcoin in traditional markets and around it. But for holidays or traveling in various countries we can trade with bitcoin according to the purpose.

[speedy1987]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

At present current situation one cannot lie that fiat money is more relevant in the currency world than cryptocurrency, but give btc time to mature in the market and find a way to stabilize its value and you will understand why a lot of bitcoin enthusiasts thought of bitcoin as being far more superior than fiat.
we need a more innovative way of transacting to mark our technological progress.

[FlightyPouch]

I think bitcoin will be alternative currency if fiat currency system in future be more safe and transparant, but if not, i believe bitcoin will be the main currency of the world, it will take atleast 50 years in from now in my opinion

I don't think that Bitcoin will ever be a main currency in the future. Not because I am being negative but the reason is the government and it's features. We all know that fuats are being controlled by the government, if they will be using a crypto currency as their fiat in their country, just imagine how volatile will their economy will be. Also, it can be manipulated by a lot of huge whales so I don't think that that will happen.

[HeXecutor]

Well ... I totally disagree with bitcoin to replace paper money. However, it is obvious that sooner or later the paper money will be replaced. Therefore, something should come to replace ... and I'm sure that it will not be bitcoin. If it is a crypto currency, then it will be some more perfect and technological alternative. Bitcoin has too many technical flaws.

[Emilyp]

The reality is that no digital currency will ever be able to replace fiat, not just Bitcoin but every other digital currency. People will always identify with fiat, think of the large population of the world that has no access to internet and haven't even heard of Bitcoin, how do you expect them to use Bitcoin for purchases? It's not possible.

[BigBlackSheep57]

Right now fiat currency is the strongest currency and bitcoin also need fiat to run so, bitcoin can't lose fiat at least now.

[albert11]

I don't think so. We can assure everyone that bitcoin will last a lifetime.
Bitcoin have a potential to grow more but it cannot replace fiat in any ways.

[Aikidoka]

Bitcoin is not able to replace fiat, at least now. I believe that there will be another cryptocurrency which would be able to replace traditional money because Bitcoin has a lot of issues as well. BTC is good, but it is too far from perfect.

Btw, I totally agree that Bitcoin is not an investment. It was created for other goals. Greedy people don't get that 

Well I do believe that bitcoin was created to oppose banks and corrupted governments. And yes, people now are seeing bitcoin as a source of money, and you cannot blame them. Most people need money. If their government does not give them the opportunity to work, then there are many other tools to get that done. Bitcoin has saved many people's lives. I do agree that some people are greedy but there also are people who are needy.

[HarryBrace]

In my country most of the people live in the rural area and they only believe in fiat currency and they don't ever hear the name of crypto.

[guybrushthreepwood]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

I don't think bitcoin has to replace fiat for it to be a success, but it's an alternative option for people to use outside of the mainstream mechanisms for banking and payments. I still see bitcoin as an experiment and it is currently like in something of a beta test mode to see if it would be a viable currency. Do I think it is right now? No. Could it be in the future? Possibly. Blockchain technology clearly works as a system and payment protocol, but is it perfect as a monetary system right now? Absolutely not. That doesn't mean I think it will always be that way but the obvious fluctuations in value would be a real issue for it as a day-to-day currency. Fiat isn't perfect either and looses value other time merely due to inflation and things like quantitative easing, but bitcoin lost 50% of its value within months which wouldn't be ideal if you had all your savings in it. I think a real interesting test for it would be if it was mass adopted by a state with a failing currency, like you mentioned Venezuela. It could either go one of two ways. One would be great where the value keeps rising due to demand and everyone benefits because you get more bang for your buck, but then if another bubble happens that pops then that could be even more devastating than their fiat collapsing. Only time will tell whether bitcoin can become a viable currency or even threaten state-issued fiat, but it's going to be an interesting experiment whatever happens.

[Frallen]

I think money is replaced with a token like Tether

[DannyMarco]

Bitcoin can't replace fiat but fiat can replace bitcoin because everyone trust fiat but not every one trust bitcoin, bitcoin still need long time to reached that position.

[dewi91]

Bitcoin can't replace fiat and there is no crypto currency can replace fiat. How bitcoin can replace fiat whereas most of people use bitcoin as an investment because we know the potential of bitcoin, people who buy bitcoin because they want to earn money from it not to use it as a payment.

[bananaunana]

I've voted for They should both exist side by side

For me this would be the best solution, using Bitcoin for online purchases and pay with Fiat offline. Best solution! 

[stayeduptolate]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

Now a days we know bitcoin and other crypto currency as a mode of investment and they are considered as the most reliable and the most beneficial investment of all the times as they are able to provide the very good profit in very short span of time and thus there are millions of people around the world who are investing in bitcoin and if we look our future with bitcoin then bitcoin is consider as a very great and the safest payment method and thus bitcoin is considered as superior and a threat to Fiat currency.

[Aying]

Now a days we know bitcoin and other crypto currency as a mode of investment and they are considered as the most reliable and the most beneficial investment of all the times as they are able to provide the very good profit in very short span of time and thus there are millions of people around the world who are investing in bitcoin and if we look our future with bitcoin then bitcoin is consider as a very great and the safest payment method and thus bitcoin is considered as superior and a threat to Fiat currency.

Still, fiat is a great one for now as we cannot live for now without the use of fiat, we should not compare both of them as they are really a great tool for us to pay and to have an economy balance in the world, bitcoin and fiat should unite and not to be compare with each other.

[Sponsoredby15]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

It will take some time before Bitcoin replace fiat currency because they don't control the distribution of it. Control and power is very important in the government that is why it is hard for them to accept Bitcoin as a currency.

[breadwinners]

I don't think Bitcoin should or might replace Fiat just because they have a different nature: one is virtual, another one is physical. I'm not sure we can use them exactly the same way.
However, with time, I believe, when BTC becomes more stable and protected and people will trust in it, they will use it a lot more often then they do now or even more often then they use fiat.

[shouldbelieve]

I think bitcoin should not replace fiat and the truth is that it is hard to happen. Although bitcoin already accepted as payment currency in some countries, i think will never replace fiat.

[EEEian]

Bitcoin is digital currency. Stocks are as securities traded on the stock market from which individuals or a party who purchase them and become shareholders get dividend or capital gain. Fiat money is physical money.

[Windmoney@1]

I can proudly say bitcoin can never replace flat but it can be more acceptable than flat as it has been serve is various way as internet means of payment...in the next couple of years be expecting bitcoin ATM to be ramperd

[northcoin2018]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

Fiat is getting so boring and things now are done in a more advance and not in conventional way such as through fiat. It is just a matter of time when people will start to realize how easier faster and safier it is to use bitcoin or cryptocurrency.

[ladyinredcoins2018]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

Possibly the fiat right now is more preferred by many because all over the world their is less knowledge or understanding what is bitcoin but if people around the globe will start to understand this advent of technology fiat for sure will be left behind.

[HeXecutor]

Well, in my opinion the advantage of paper money is only one ... they can be found on the street and put in your pocket. With crypto currency, this can not happen ...
However, in the rest I can not find any disadvantages in using crypto currency instead of fiat. With the level of technology and mass of the places with the support of payment for everything using crypto currency, the choice in favor of this in my opinion

[ir.yance]

Although Bitcoin exists for almost 10 years, its role in our life is still unclear. One of the theories states that Bitcoin was created to solve the problems which fiat money cannot overcome. We can see how so many Governments have huge debts and how some countries cannot support their own currency (Venezuela might be the best example now), so Bitcoin looks like a possible option nowadays. Getting rich was never the goal for Bitcoin. It was meant to become the currency of the digital world and provide an alternative to the dying economy.

So the question is, how do you think, should Bitcoin replace Fiat money, or there are other options of how it could be useful to the society?

Edit: To give you more food for thought, there is a nice article about the history of the creation of both Fiat and Bitcoin and their detailed comparison.

yes you are right, bitcoin has been created for almost 10 years and until now the position of bitcoin is unclear in everyday life. bitcoin often experiences problems from several countries that prohibit bitcoin.
I often hear bitcoin will become a global currency but until now bitcoin cannot become a currency that has functions like fiat uag, in my opinion it takes a very long time for bitcoin to become a currency that we can use in our daily lives.

[annaso]

We cannot rule out the possibility that some bitcoin will eventually be more widely adopted and fulfill more of the functions of money in some regions or private e-commerce networks. In five years, if you try to use fiat currency they will laugh at you. Bitcoin and other cryptocurriences will be so relevant ... there will be no reason to have the fiat currencies.

[Lorin]

To be able to  replace fiat money by bitcoin it should be  accepted by all. Todays generation is digital but there are more who still dont know bitcoin and how it works. If that happen it takes more and long time to adopt by many specially the government and understand more about bitcoin.

[Irfansyed]

If you look at the foundations of fiat currencies, you find loose sand, not bedrock. Massive mountains of phantom wealth have been created by central-bank inflated bubbles, bubbles based not on actual expansion of net income earned from producing goods and services, but on financialization, the pyramiding of debt and leverage on a small base of real assets.