Bitcoin to replace fiat

[Mcdacillo]

In this history of mankind any kind of innovation to solve something has always benefited it does however takes its own time to fix things .. look at those trillion dollars of debt in u.s if they don't pay the entire country goes into bankruptcy and this not only affects one country but several others will be down along with it .. we need robust technology to solve such things if humans keep using paper money it will not only cause problems to the country but to its own people. adoption of block chain is very important in near future. lets see how much we care .. if Government really needs to solve their debt issues blockchain is the only way out to convert their useless fiat to valuable blockchain technology it will not only help to crush fiat and pay of trillions it will help to rescue the majority of countries in Asia and worldwide.

In my opinion, there is an advantage and disadvantage of bitcoin in replacing the fiat money. Advantages is that it will be supported by many investors and many of us will be grateful when bitcoin replace fiat but the disadvantages are it can be used by the government and the worst is it may become centralized.

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[BlackPanda]

In my opinion Bitcoin is very ready to be able to replace the position of fiat in the financial system in the world.
What is needed is infrastructure to be able to fulfill financial transaction facilities with Bitcoin.

[Bonsaiav]

In this history of mankind any kind of innovation to solve something has always benefited it does however takes its own time to fix things .. look at those trillion dollars of debt in u.s if they don't pay the entire country goes into bankruptcy and this not only affects one country but several others will be down along with it .. we need robust technology to solve such things if humans keep using paper money it will not only cause problems to the country but to its own people. adoption of block chain is very important in near future. lets see how much we care .. if Government really needs to solve their debt issues blockchain is the only way out to convert their useless fiat to valuable blockchain technology it will not only help to crush fiat and pay of trillions it will help to rescue the majority of countries in Asia and worldwide.

With the blockchain technology, the government can actually use this technology to eliminate the cost of printing money which is very expensive, and so the government can allocate these funds for other purposes which are certainly more meaningful than the cost of printing. However, what we want's still fixated on desire, this thing cannot go according to what we want, even to this day we cannot break the government ego that survives on the wrong mindset especially the problem of waste.

[xabre]

Many people still not understand about bitcoin, they are really don't know about what is bitcoin and how bitcoin is working, many people still need educate with bitcoin how to use bitcoin and how to send bitcoin from one wallet to other wallet because always hard to know bitcoin. Need more educate to make people know about bitcoin and could be more profitable at the future and could replace fiat at next time.

[LUCKMCFLY]

@xabre, I agree with you, today there is a lack of financial education in many people, this reason can have a great influence on preferring Fiat money than Bitcoin or any type of currency that uses Blockchain technology.

Recently I read in an article that in Germany they prefer to use Fiat money before any blockchain technology.

For a change of mentality to occur, I would have to agree in many nations of the world to educate through Courses, Trainings, Seminars, the advantages of blockchain and how it can improve our lives.

That would have to be a global agreement, that way we would be in tune with the technology that adopts this type of strategy.

We must take into account that for many the change would be slow and prolonged, especially for people who do not interact much with digital technology, PC management, Smartphones, among others.

And it is important to mention that due to some advice given by recognized authors of Financial Education Books, such as Malkiel Burton, it is always advisable to diversify our money, whether in blockchain, Fiat money, stocks such as Gold, some bond systems, have plans to Savings in banks. that generates money, and maybe, if you feel attracted by some action of the Stock Market, make a small investment there to see how that risk would arise.

[Inosend]

I totally agree with this, this is what I tell people on daily basis cryptocurrency will replace Fiat soon or later

[A L I E N]

In this history of mankind any kind of innovation to solve something has always benefited it does however takes its own time to fix things .. look at those trillion dollars of debt in u.s if they don't pay the entire country goes into bankruptcy and this not only affects one country but several others will be down along with it .. we need robust technology to solve such things if humans keep using paper money it will not only cause problems to the country but to its own people. adoption of block chain is very important in near future. lets see how much we care .. if Government really needs to solve their debt issues blockchain is the only way out to convert their useless fiat to valuable blockchain technology it will not only help to crush fiat and pay of trillions it will help to rescue the majority of countries in Asia and worldwide.

As I suppose the cryptocurrency will live together with fiat. Both of them will be used everywhere, and each person will have a free choice of what to use. The crypto is not going to die, at least in 20-50 years.

[talkbitcoin]

bitcoin is never going to replace fiat so don't wait for it to happen, you will be wasting your time waiting for no reason.
as for the government, and what you said about them. you seem to be forgetting the main fact that bitcoin and the technology that it introduced is meant to be used in a decentralized way which means no government involvement should ever be necessary for it to grow.
if you want otherwise then you didn't understand bitcoin!

[denzkilim]

then what does the block chain have to do with the state what you mean, blokchain is a technology for crypto currency transactions and storage, so it has nothing to do with being able to help resolve state debt

Wondering exactly the same thing, how is it possible to use blockchain to pay huge debt? By converting all fiat money to crypto? Wouldn't be the same value once it is converted? Unless there is a huge pump of the price like what we saw in 2017.
Actually there are bunches topic discussing about this "bitcoin to replace fiat", but I'm still sure that it will never happen because fiat paper money is still the most used money all around this world.

I think the OP does not understand completely what a Crypto currency is and what paper money is, and what are their uses in our society. There will be no such thing or event that will happen in the future called "Bitcoin will replace fiat" because of this to kind of valuable things have different roles in the financial ecosystem. Fiat or paper money is stable and not volatile that is the reason it is used as a currency and Crypto like Bitcoin is not stable and it is extremely volatile by its nature so there will be no chances that it will become a currency used daily rather than an asset that is used right now. And these two kinds of valuable things will never replace each other.

[cdog]

I totally agree with this, this is what I tell people on daily basis cryptocurrency will replace Fiat soon or later

In my opinion it still takes time if you want Bitcoin to replace the Fiat Bitcoin feature must be faster and safer so that everyone believes that Bitcoin can be made into the world currency. if bitcoin is able to provide better features, I'm also sure bitcoin will become the world currency.

[TitanGEL]

In this history of mankind any kind of innovation to solve something has always benefited it does however takes its own time to fix things .. look at those trillion dollars of debt in u.s if they don't pay the entire country goes into bankruptcy and this not only affects one country but several others will be down along with it .. we need robust technology to solve such things if humans keep using paper money it will not only cause problems to the country but to its own people. adoption of block chain is very important in near future. lets see how much we care .. if Government really needs to solve their debt issues blockchain is the only way out to convert their useless fiat to valuable blockchain technology it will not only help to crush fiat and pay of trillions it will help to rescue the majority of countries in Asia and worldwide.

It will take more years for us to see that the cryptocurrencies will use by most of the people. We can't even sure if bitcoin can replace fiat currencies in terms of payment because we should be aware that powerful persons and institutions will not let it happen.

[palle11]

.... look at those trillion dollars of debt in u.s if they don't pay the entire country goes into bankruptcy and this not only affects one country but several others will be down along with it .. we need robust technology to solve such things if humans keep using paper money it will not only cause problems to the country but to its own people. adoption of block chain is very important in near future. lets see how much we care .. if Government really needs to solve their debt issues blockchain is the only way out to convert their useless fiat to valuable blockchain technology it will not only help to crush fiat and pay of trillions it will help to rescue the majority of countries in Asia and worldwide.

I think your position about the benefit of block chain or bitcoin replacing fiat does not represent the truth. We have had some bailouts done with fiat and no further problem was created. For instance, bailouts in Greece, Spain and some other European countries, yet they are find.

[ChrisPop]

Very good arguments for adopting cryptocurrencies and the blockchain technologies, @bitcoin_diamond! Every problem in our world has a solution. But the greed and lack of vision of some people create obstacles in our path to a better world. It is obvious that blockchain will represent a big part of our life very soon, it is surely just a matter of time.

[Sebas.tian]

Bitcoin does not need to replace fiat completely because it also has its own weaknesses. Fiat too has many misgivings that only bitcoin can complement which is why they should instead be used alongside each other.

[G2z_Riya]

Bitcoin is all about virtual usage, fiat is much used in comparison to bitcoin. To grow similar to fiat it needs more years, and in this regard I don't think in short it is reachable. Bitcoin will not replace fiat in short, it will serve as a alternate to the fiat system that we use.

[Fredomago]

I totally agree with this, this is what I tell people on daily basis cryptocurrency will replace Fiat soon or later

In my opinion it still takes time if you want Bitcoin to replace the Fiat Bitcoin feature must be faster and safer so that everyone believes that Bitcoin can be made into the world currency. if bitcoin is able to provide better features, I'm also sure bitcoin will become the world currency.

That assurance is really needed if we wanted bitcoin to replace the current currency, but with those aspect it's still needs some time
to accomplish and make a good use of this crypto money, improvements and more assurance that the volatile market will be much
stable and safer before it can fully replace the service.

[marcous]

Bitcoin will not completely replace fiat I guess. because the legal law is that every currency in the country must have physical and it cannot be replaced by bitcoin. Unless the law is amended. but at least the Blockchain helps in the financial industry to be safer but still transparent.

[goaldigger]

In this history of mankind any kind of innovation to solve something has always benefited it does however takes its own time to fix things .. look at those trillion dollars of debt in u.s if they don't pay the entire country goes into bankruptcy and this not only affects one country but several others will be down along with it .. we need robust technology to solve such things if humans keep using paper money it will not only cause problems to the country but to its own people. adoption of block chain is very important in near future. lets see how much we care .. if Government really needs to solve their debt issues blockchain is the only way out to convert their useless fiat to valuable blockchain technology it will not only help to crush fiat and pay of trillions it will help to rescue the majority of countries in Asia and worldwide.

People are already using fiat monetary system for a long time and so far, there is one record in history that i know it collapses. It is when this type of mickey mouse money produces in Japan with such a huge amount a bucket of it can be exchanged by a biscuit. Im not against blockchain or fiat but yeah, cryptocurrency is a better version of it.

[martina14]

There is no doubt on this thing but not in the near future.
This will take more than 5 years as there are so many people not ready on this.
Before this happen, there will be more school to implement and teach students about this.
There will be more economist in every country to lead the innovation.
if this will happen now! there will be more people to be lost in their life and financial!

[aris av]

Volatility is a difficult step for Bitcoin to replace Fiat, and I think more people like Bitcoin as an investment because it is more profitable.