Bitcoin vs Fiat

[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.