Bitcoin to replace fiat

[princeyeboah]

In the first place, I don't think Bitcoin was purposely made to replace fiat. Bitcoin was made with the intention of enhancing payment systems with a more fast, secured, owner controlled and low cost per transaction manner. The governments are in full support of the fiat and its value determines the economic status of the country. Both Bitcoin and the fiat will coexist.

[Lexurdania]

In the first place, I don't think Bitcoin was purposely made to replace fiat. Bitcoin was made with the intention of enhancing payment systems with a more fast, secured, owner controlled and low cost per transaction manner. The governments are in full support of the fiat and its value determines the economic status of the country. Both Bitcoin and the fiat will coexist.

I am agree, bitcoin created for peer to peer transaction and i think its happen for online transaction. To replace fiat, many huge challenge for bitcoin because central banks must be wont to lose control on money supply

[mapanlah]

the initial purpose of bitcoin was created indeed to become the future currency. so in the future it can be ascertained that there will be a change of currency from the traditional one and in the form of paper it will soon be replaced by crypto currency that has implemented a digital system. we are just waiting for the occurrence of a currency revolution, we can enjoy the results of our investment in bitcoin in the future.

[steveabrahams]

In my opinion nope. bitcoin will never to replace fiat. Yes many people around the world almost know about what is bitcoin and how expensive is bitcoin but to become a fiat, i'm not sure about that because there are still many things to do to make bitcoin to replace fiat or at least to become a fiat.

[Johnyz]

In my opinion nope. bitcoin will never to replace fiat. Yes many people around the world almost know about what is bitcoin and how expensive is bitcoin but to become a fiat, i'm not sure about that because there are still many things to do to make bitcoin to replace fiat or at least to become a fiat.

There's no chance for bitcoin to replace fiat because fiat money is being supported by every country and for sure they don't want to fully decentralized their own market. So bitcoin will stand together with fiat money, people have to choose this time and for me Bitcoin is the best of all but we still need fiat money.

[ruthwithers1980]

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.

You need to look at the bigger picture to realize that it takes more than just proposing "Bitcoin to replace fiat" to pay off debts! Say the US converts all its fiat money to Bitcoin. If the countries the US is indebted to would like the payment to be in fiat money (because needless to say their people still largely depend on fiat money to live day by day), then the US will be the dumbest nation for having decided to let go of its fiat in exchange for bitcoins.

No matter how positively game-changing Bitcoin is in different aspects, it will never eliminate the world's need for fiat-money transactions, at least not any time soon.

[blockman]

In my opinion nope. bitcoin will never to replace fiat. Yes many people around the world almost know about what is bitcoin and how expensive is bitcoin but to become a fiat, i'm not sure about that because there are still many things to do to make bitcoin to replace fiat or at least to become a fiat.

Sort of digital currency will replace fiat and we're going to see that in the future. It may not be bitcoin but bitcoin shall be there and will witness that innovation, actually we're already in the process and governments are aware of this. They aren't ready for that massive change that the world should come but time will tell on how the world will soon replace to this kind of currency.

Bitcoin will be there but there will be another medium of payment that the govt will prefer and for us, who does love decentralization will stay.

[susuberuang]

In my opinion nope. bitcoin will never to replace fiat. Yes many people around the world almost know about what is bitcoin and how expensive is bitcoin but to become a fiat, i'm not sure about that because there are still many things to do to make bitcoin to replace fiat or at least to become a fiat.

I think bitcoin will never be able to replace fiat because fiat and bitcoin have different platforms and bitcoin also still has pros and cons in every other country still doesn't have legality and doesn't fully support bitcoin so I think bitcoin will never be able to replace fiat.

[Kelvinid]

In my opinion nope. bitcoin will never to replace fiat. Yes many people around the world almost know about what is bitcoin and how expensive is bitcoin but to become a fiat, i'm not sure about that because there are still many things to do to make bitcoin to replace fiat or at least to become a fiat.

I think bitcoin will never be able to replace fiat because fiat and bitcoin have different platforms and bitcoin also still has pros and cons in every other country still doesn't have legality and doesn't fully support bitcoin so I think bitcoin will never be able to replace fiat.

There is no need to argue of replacing fiat by bitcoin or any cryptocurrencies. Yes, they are in different platforms and applicable transactions for its used. Digital currencies now where making our life easier than with the used fiat but we eventually facing high risk with the used of it. But since it is not accepted in local and offline transactions, thus fiat currency still be very important.

[Kirito-kun]

Actually you can't compare these two because they have their own advantage on each other like crypto could be better use in virtual world while fiat is on physical world. Crypto would never replace fiat, not in a hundred years, it could be only other option for our  daily transaction like fiat were used to be.

[alonelyorange]

Bitcoin still use by few people in some country and many country still do not know about what is bitcoin, needed more promotion to make bitcoin become famous digital e currency before replace fiat at the future.

[Rooster101]

Blockchain can be use by any government to improve the services of their various departments, agencies and many government-owned corporations. But it will be impossible to replace the fiat or the national currency with the cryptocurrency which is decentralized and more volatile than the ordinary currency. In order to preserve the national currency, the government may, instead, issue a virtualized or digitized form of fiat instead of adopting a cryptocurrency.

[DeadCoin]

How you are sure that block chain technology is going to help clear the big debt. Converting fiats into bitcoin and having transaction would at a sudden may not support clearing the debt, rather the country has to wait investing the bitcoins as long as they see a good profit. Instead what can be done is, legalize usage of bitcoin and other crypto currencies in the country. Once the users start gaining profits, you can either charge the citizens. This may support on country clear the debt as they move on.  

[Ruffian1314]

I think fiat money can never replace by bitcoin even we reach the time where technology is very developed because there are still place in the world that cannot be reach by this technology and they use fiat as a payment for their purchased goods. Also, blockchain has nothing to do with the debt you are talking about.

[Cherylstar86]

In my opinion nope. bitcoin will never to replace fiat. Yes many people around the world almost know about what is bitcoin and how expensive is bitcoin but to become a fiat, i'm not sure about that because there are still many things to do to make bitcoin to replace fiat or at least to become a fiat.

A huge percentage of people in the world are still into fiat, this has had been the form of exchange and a store of value for thousands of years. Fiat money is currency that a government has declared to be legal tender, while cryptocurrency has no legal tender and not backed by a government. Otherwise, each serves with a unique purpose, both can be used to purchase goods and services, both have their value governed by supply, demand, work, scarcity, and other economic factors, both have their value affected by the quality of the system surrounding it.

[conected]

In my opinion nope. bitcoin will never to replace fiat. Yes many people around the world almost know about what is bitcoin and how expensive is bitcoin but to become a fiat, i'm not sure about that because there are still many things to do to make bitcoin to replace fiat or at least to become a fiat.

- Of course, the answer will always be no because although bitcoin is very popular and there are many signs it will be more popular in the future but understanding from people with bitcoin is just a place to invest, a valuable cryptocurrency and market leader. The problem is that bitcoin will become currency and replace fiat, it is still very vague and there is nothing to concretize that problem because the government will not support, and bitcoin tends to be a place to invest, rather than a currency that people can use, people are still loyal to fiat

[TheCoinGrabber]

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.

This is like saying exchanging dollars for yens would suddenly make the debt go away. You are just exchanging an amount of currency for another with the same value.

Sure fiat have its problems (like how central banks can just pump them out) but nist of the problem we are seeing now is due to how the banking sector operates.

Also "crush"? I don't think any gov't would just allow that. They are backing their fiat and even if they get rid of paper bills, they'd just move on to digital fiat, like how almost everything in China now is paid for virtually.

[AjithBtc]

In my opinion nope. bitcoin will never to replace fiat. Yes many people around the world almost know about what is bitcoin and how expensive is bitcoin but to become a fiat, i'm not sure about that because there are still many things to do to make bitcoin to replace fiat or at least to become a fiat.

I think bitcoin will never be able to replace fiat because fiat and bitcoin have different platforms and bitcoin also still has pros and cons in every other country still doesn't have legality and doesn't fully support bitcoin so I think bitcoin will never be able to replace fiat.

There is no need to argue of replacing fiat by bitcoin or any cryptocurrencies. Yes, they are in different platforms and applicable transactions for its used. Digital currencies now where making our life easier than with the used fiat but we eventually facing high risk with the used of it. But since it is not accepted in local and offline transactions, thus fiat currency still be very important.

As stated there isn't any possibility for bitcoin to replace the fiat. Though they're in different platforms the usage is much important. If bitcoin has the usage similar to fiat it'll soon replace fiat. Now with bitcoin we don't have a big user base. Even though it is developed for the usage of every level of people it is used little by common people. When this increases we can make this discussion more powerful.

[GrayFullbuster]

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 will patronize cryptocurrencies in the future, I am sure with that! The people will still prefer to use fiat currencies than cryptocurrencies because they got to used it. They will also have hard time to adopt it due to the lack of education in our society nowadays. Most of the cryptocurrencies users are self taught users.

[proTECH77]

I think that is indeed the right way to reduce debt to the state, and using Blockchain technology will be very profitable in the financial system.

Indeed there are good impression coming from Bitcoin which is the mainstream manifestation of the Blockchain Technology, this technology has brought transparency and freedom for it users. For Bitcoin to possess these features will likely replace the fiat but will take sometime to dethrone FIAT.