Bitcoin to replace fiat

[Hannahanto]

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. Bitvoin uaŕç-

Yes, the drive seems to be towards it. Number of bitcoin users have increased. Fiats circulation is going to be in Demand. This has become a true coldwar bitween fiats and crypto .

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[Razerglass]

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. Bitvoin uaŕç-

Yes, the drive seems to be towards it. Number of bitcoin users have increased. Fiats circulation is going to in Demand. This has become a true coldwar biycoin

Maybe, other alternative current monetary and fiscal system but i doubt this will start with bitcoin. There are better alternatives that can solve problems created by older generations but crypto payments era will boost this process like fuel in fire. Blockchain solutions will bring alternative ideas and these ideas can be a feasible solutions in case of another upcoming crisis.

[shesheboy]

I don't think that most of the community believes in the world currency scenario for Bitcoin. It's much more probable that it will coexist with fiat especially when a lot of the world is not tech savvy and has no access to the Internet.

Majority of the country nowadays are now improved even the poorest ones like africa . they now have access to advance infrastracture such as internet because internet is verry important and it will be useful in our daily lives  .

But im not saying that bitcoin can surpass the use of fiats .  bitcoin is only an alternative currency next to fiat that is verry useful online  .

Though Bitcoin may be the future currency but will not replace fiat.

If bitcoin wont replace fiat then why call it a future currency ?  Its just wrong  and sounds awful  . we can instead call bitcoin as the internet of money  because that more suites it  .

[Ozero]

People need to stop spreading this dumb narrative. Bitcoin it's not going to replace fiat money, ever, the banks won't allow it, and the governments around won't allow it. What's going to replace paper money is electronic money, digital transactions, the increase in use of debit cards and other forms for spending electronic funds. If anything Bitcoin will be an alternative for payments so that merchants around the world can also accept btc.

Btw, what you're saying in the OP has nothing to do with the title, but just so you know, the blockchain technology won't help to get rid of all the problems and issues and debt a country has.

Absolutely agree with you. Bitcoin, like any decentralized cryptocurrency, can never replace fiat with itself. This is impossible in principle, since a decentralized cryptocurrency is simply not intended for this. It does not have any connection with the economy of a particular state, so no government will ever agree to abandon its national money in favor of decentralized cryptocurrency. A crypto-currency will only go in parallel with the national money of the states, otherwise it will unbalance the economy of any state.

[BorisWCR]

For now, it is impossible for Bitcoin to reolace fiat currencies. But I also do believe that in the future, the Bitcoin will have it, taking over all financial transaction and be the Bitcoin the medium for payment methods.

[Xising]

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.

Well, everything always has a possibility. However, I foresee, like most people, that instead of "replacing", it's more possible for cryptocurrency to interplay with fiat in the market. That's more feasible because, with all honesty, the status of cryptocurrency is erratic at best, and for a currency, one should be as stable and reliable as possible because it is the blood line of every business sector in a country or local economy. It would surely be disastrous to rely on a currency that falls value at any time.

[killat]

Personally,  I don't see Bitcoin replacing fiat but being used with Fiat in parallel. There are a lot of aged people (over60-70 years old) that will not adopt Bitcoin. However,  if big institutional investors will come on board it will be great for Btc.

[Pursuer]

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.

Well, everything always has a possibility. However, I foresee, like most people, that instead of "replacing", it's more possible for cryptocurrency to interplay with fiat in the market. That's more feasible because, with all honesty, the status of cryptocurrency is erratic at best, and for a currency, one should be as stable and reliable as possible because it is the blood line of every business sector in a country or local economy. It would surely be disastrous to rely on a currency that falls value at any time.

it is true that you can not rely on the altcoins but the reason for that is because they are mostly scams and poorly projects that were made for monetary reasons (meaning the developer wanted to become rich overnight either through premining or running an ICO).
but we are talking about bitcoin here and it is the most and only reliable currency out there. it is true that its price is volatile but if you look at the bigger picture you can see the price is pretty reliable. you can clearly see that in the past 3 years (long term outlook instead of short term) price has solidly risen from $800 to $3000+ and that shows growth and the strength of that growth.

[Ronaldcoin2017]

I think bitcoin cannot replace fiat in terms of payment, because bitcoin has a great difference from the fiat. I believe that many more people doesn't know that bitcoin exist and some will never believe it. So I think fiat is really hard to replace specially this is a old way of making payment bitcoin is new to the community and people are mostly using fiat. Maybe bitcoin will replace fiat in the future but not today.

[XZERO1]

I don't completely deny the possibility of cryptocurrencies replacing fiat, but I think it just won't happen in the near future unless some kind of huge crysis happens, but if we're just talking about bitcoin I don't think it can replace fiat at all even in the future just because it's kind of slow and has high fees that shows it's not a good option for every day transactions now in 2019 comparing to the newer coins like nano that has almost instant transactions.

[kentrolla]

I think bitcoin cannot replace fiat in terms of payment, because bitcoin has a great difference from the fiat. I believe that many more people doesn't know that bitcoin exist and some will never believe it. So I think fiat is really hard to replace specially this is a old way of making payment bitcoin is new to the community and people are mostly using fiat. Maybe bitcoin will replace fiat in the future but not today.

I agree its not so easy that BTC to replace fiat, but in reality the world is going behind technology which means people want to see every needs to be happen in convenient way. examples like paypal and google tez app. what I personally feel is anything can happen after 10years from now yes note my words, some developing nation will announce fait will be replaced as BTC to build their economy of their country.

[Spider A4]

I think that if bitcoin really wants to replace fiat money, it's likely to be quite difficult. because fiat ung certainly cannot be replaced by coins or others.

I don't think Bitcoin to replace fiat money it's just impossible. Even Bitcoin as a digital currency we can't comparison between fiat and btc. Because BTC not a regulated currency in every countries this is a big obstacle i think. First of all need to world wide adoption.

[omonuyak]

It is the hope we are trying to develop because bitcoin has proving that it can help during inflation and financial crisis than fiat money because of the cost of producing paper money.

[jpoker272727]

Remember those times when FIAT replace the BARTER SYSTEM and gold/silver coins?
It will happen to itself as the cryptocurrency will definitely replace it in the future.
Changes will come and people can't do anything but to adopt and learn!

[enogheghase123]

The blockchain technology can only enhance the human way of handling things, like our educational system, our electoral system, our medical system, theses systems can be well enhanced to serve humans better and easier if the blockchain technology is integrated into the system of things. But offsetting debts or debt management via the blockchain technology is not realistic.

[logfiles]

<...>

My friend if you are thinking in those lines then I bet you will be disappointed.
This world is all about control of power and money. There will still be cases of fraud, corruption, poverty even if blockchain technology gets massively adopted.
It has already happened here in the forum with our beloved Bitcoin. People are scamming and defrauding others almost every day.
Never ever have very high hopes on humanity

[Finestream]

I think that if bitcoin really wants to replace fiat money, it's likely to be quite difficult. because fiat ung certainly cannot be replaced by coins or others.

I don't think Bitcoin to replace fiat money it's just impossible. Even Bitcoin as a digital currency we can't comparison between fiat and btc. Because BTC not a regulated currency in every countries this is a big obstacle i think. First of all need to world wide adoption.

Right.It's really hard to replace fiat for bitcoin.Even if mass adoption for bitcoin will happen,i still think that the use for fiat will still be here.Knowing people are already used to paper money and that bitcoin is still new for them so they would really find it hard how to use blockchain technology especially for the stone age people.

[Yamifoud]

It is not all about of replacement but it is a way to have option of what we wanting to used for our daily activities in our comforts.
Fiat still have its value and considering the fact that crypto isn't accepted in some areas where absolutely crypto won't have such power to defeat fiat. Cryptos are design for online transactions, thus all others transactions will have to used our local currencies.

[0t3p0t]

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.

Yeah. Governments will never allow Bitcoin to replace fiat money and we all know that already. Bitcoin has decentralized feature which the government don't like as they cannot control the said asset. Digital currency is different from paper money so I think they will always have boundaries though they are both can be used as payment method but they have advantages and disadvantages on their own.

[Gaggy185]

Bitcoin is a good replacement for Fiat money. I think that in the future bitcoin will compete with them, they will be able to coexist together and perhaps when that, cryptocurrencies replace national currencies.

Though Bitcoin may be the future currency but will not replace fiat. These coins are to complement each other rather than replacement. There are no rooms provided for the digital currency to take the place of the fiat because fiat will be need to trade with. Just my own opinion and not another.

In my opinion, the future the fiat will be replaced by cryptocurrency and online purchasing. The cash will not popular in the world in the next 30 years and people will make the transaction in online by using digital currency.