In the next decade, BTC and digital currencies will “fully” replace fiat?

[joinfree]

Nope, i don't think so...digital currencies would definitely be the main stream of making payments but it will not be with bitcoin. In as much as we are all enthusiasts of the adoption of bitcoin we must face the reality of bitcoin not being ideal as a mode of payment looking at its transaction speed. The entire world can't operate with this folks, that's the truth.

[ampere]

Replacing fiat with digital currencies would not actually be into existence. Each of those currencies have their own importance. Cryptocurrencies can't perform the activities which are carried forward by fiat currencies so they can hardly overtake fiat over cryptos.
Fiat currencies are been managed by the centralized governments, and none of the government from any country would allow the digital currencies to overtake their centralized fiat currencies. Digital currencies are hard to keep a track upon and it might never allow the governments to impact taxation on the individuals holding or earning the cryptos so it might not be possible to replace fiat with digital currencies. They both might work constantly.

[PointHope]

Just because it's coming from a bank does not guarantee that something like this will happen in the future.
Yes, I love digital currency and I see a future where there is massive adoption of it.
But this adoption does not mean ceasing the use or existence of fiat. Fiat adds and symbolise a country and their economy, taking it away might affect it.
Instead let's forsee a future where the bank and digital currency work in hand.

The bankster criminals have financed and promoted 100+ years of near constant war.
This is destruction of life, the planet and valuable resources. Virtually making the planet unihabitable.

You really want the future world crypto currency to work hand in hand with these crooked banksters?

Think again,
Bitcoin doesn't need permission from these crooks.
Bitcoin doesn't want permission from this destructive global corruption.

Bitcoin is rewritting the paradigm of human culture to being friendly to life on this planet.

The last 100 years of fiat currency corrption have not been friendly to mother earth.

[pixie85]

Deutsche bank is doing research! My oh my 

I hope you don't put too much trust in them because this is the bank that will lead the next financial crisis.

Deutsche bank stocks used to be worth 30 EUR 4 years ago and now are worth 6 EUR, scoring losses every single year. At least they have some good ideas like this attempt to try cryptocurrencies because without some risky investments they will be gone in the next 3 years.

[Shasha80]

I am sure that in the next decade fiat cannot be replaced by bitcoin and digital currency, because people in this world are  still use fiat
more for conducting financial transactions. Moreover, the government is still not fully legalized cryptocurrency. If it is true that bitcoin
and digital currency will replace fiat, it should take even longer, it can't achieved only in a decade. That is too short a time in my opinion,
and the government is not ready to accept decentralization which is contrary to the principle of centralization adopted by fiat. More realistic
if in the next decade bitcoin and digital currency is the focus of adoption in the lives of the people all over the world. Because the number
using bitcoin and digital currency is still small compared throughout the people all over the world.

[hatshepsut93]

Some countries are already 80-90% cashless, but no countries is nowhere near replacing fiat - in fact there's probably barely a few people in this world who live 100% on crypto without ever touching fiat. There's no way it will dramatically change in the next decade, so this is just another sensationalist and misleading article. Bitcoin community was talking about fully replacing fiat for many years, but the actual progress is incredibly slow.

[adzino]

This is highly unlikely to happen, at least on the next decade. It might take at least few more decades before we completely replace fiat. Though I doubt that crypto currencies will completely replace fiat, but I am pretty much sure they will be used side by side in harmony with crypto currencies becoming the mainstream.
Crypto currencies, especially bitcoin won't be able to replace fiat. Lets be honest here, bitcoin does have a lot of flaws when it comes to using it as a mainstream currency for daily transaction. Do you really think the network will be able to handle millions of transaction with minimum fee easily when everyone uses it?

[Genemind]

Cryptocurrencies might be used as a mode of payment since our technology is advanced but it doesn't mean that we will be replacing fiat. Fiat will always play a vital role in our society and despite the existence of blockchain technology, I believe that people and the government will always prefer to use it in important transactions.

[Asmonist]

I believe its really going there. But the replacement of fiat I guess is a longer process. Bitcoin will definitely grow and if not a replacement soon for fiat but an additional option for currencies. Adoption of crypto currencies is very crutial and expensive somehow as there are still many rural areas who even not had an electricity.

[Zeke_23]

I believe its really going there. But the replacement of fiat I guess is a longer process. Bitcoin will definitely grow and if not a replacement soon for fiat but an additional option for currencies. Adoption of crypto currencies is very crutial and expensive somehow as there are still many rural areas who even not had an electricity.

It is a long process where a decade is not enough to make it happen.
It will surely to happen, even if bitcoin won't make it to replace fiat, at least it can help us to become an alternative option for us to use it to make transactions.

[youdacapt]

This is highly unlikely to happen, at least on the next decade. It might take at least few more decades before we completely replace fiat. Though I doubt that crypto currencies will completely replace fiat, but I am pretty much sure they will be used side by side in harmony with crypto currencies becoming the mainstream.
Crypto currencies, especially bitcoin won't be able to replace fiat. Lets be honest here, bitcoin does have a lot of flaws when it comes to using it as a mainstream currency for daily transaction. Do you really think the network will be able to handle millions of transaction with minimum fee easily when everyone uses it?

talking about decades, actually has started from the process every year before, the process is always continuous to reach the point of trust, development, and accountability. Btc is unlikely to be in harmony with fiat as a currency, there must be a solution to at least control every fluctuation in prices to be slower. The network will not be able to handle everything in a short amount of time, but will always experience a system improvement test in every consensus.

[CryptoBry]

I am predicting that eventually digital currencies can be replacing the paper money but not totally wiping it out. This is just similar to the radio and TV story. When TV came, people thought that radio can be dead and be totally replaced but what happened is that both are now co-existing though there is no question that TV is getting the most views or the bigger audience share. Now, when I said digital currencies that certainly include the ones to be introduced by many central banks and this can be the reason why paper money will slowly decrease its use and circulation. Soon, we might be seeing this in China when the government in there will be launching its state-controlled and sponsored cryptocurrency. Sadly, this is not because of the real cryptocurrencies we now have all because admittedly massive adoption for this industry is getting harder each day and in my view it can be taking decades before we can convince majority of our people to make the big switch. Still, I am hoping that am wrong, anyway.

[Ozero]

Digital currencies will not replace states' cash even in the distant future. With the advent of stable coins of various states, the use of cash may decrease slightly, but the need for cash will still be large, especially in rural areas. It is also worth considering that many people generally refuse to use digital currency in any form for various reasons and no one will force them to do this. If the number of barter transactions increases, the state’s economy will fall and the state will be forced to have cash at the same time.

[MURONDI]

no one knows the future, it's likely that all countries will accept bitcoin in the future, or they will be left behind, when developed countries use a new technology, other countries will follow it, some countries have thought about blockchain technology, only a matter of time.

[Murat]

To be honest, it's too difficult to say about this thing, To get replaced fiat, you have to create a lot of authentic platforms which might be acceptable to the mass people, I am not going to discuss about the research authenticity, I just want to say about the mass adoption, Bitcoin and Cryptocurrency are not controllable so the price is also like this, And in this way, people are getting afraid of using Bitcoin as well as cryptocurrency anymore, It's a harsh realistic issue for cryptocurrency. so unless the stability of the price of the cryptocurrency, no one says about the bright future of Bitcoin along with Cryptocurrency.

[slaman29]

Ten years is not enough for bitcoin and altcoins to replace fiat currency. There are many requirements that must be fulfilled before this can happen.

And I don't know where this Deutsche Bank Research made thier prediction. And this reasearch doesn't think about people who are ignorant of bitcoin / altcoins and how these people would accept bitcoin.

Read the report itself my friend. This is just what they are calling a decade ahead kind of prediction. And they note that right in the beginning, all the predictions did not happen as they thought. For example when fiat came out they thought gold would lose value by 1980. It has gone up and up since then. They also thought internet and remote work means everyone works remote, no more physical offices.

So yeah, they probably expect 10 years fiat replaced by crypto also won't really happen.

[dimox]

im not sure, but it can be happen. who know?
when some country experiencing a slump in economic, in their fiat, they will do like extraxt the value, and the price off stuff will following it rule. but i dont know if they often experiencing deterioration of financial problems, maybe they use crypto silently.

[bitvalak]

In a new report predicting the decade of the 2020-2030s by Deutsche Bank Research, the bank says that the adoption of digital currencies is inevitable. Governments need to catch up or the backlash against fiat currencies will be too great to handle.

Deutsche Bank Research is posting its predictions for the next decade, which cryptocurrencies are expected to be a cornerstone of the economy in the world ahead of us. In a shocking admission, Deutsche Bank Research tells its readers that governments have to adapt to this inevitable reality or risk falling behind entirely.

Source link here

Okay, so this is another prediction stuff. So many individuals, companies and institutions are predicting on what is going to happen with Bitcoin and other cryptocurrencies.

Earlier, Bloomberg predicts that Bitcoin will reach $10k soon. Now, Deutsche Bank claims that within the next decade, it will be the real era of digital currencies.

It means that fiat would “finally reach its end”. As for me, I think next decade would not be enough just yet for digital currencies to fully dominate, as most banks and people from around the world still prefer fiat more than Bitcoin, etc.

Yes, all of us are free to predict about Bitcoin and other cryptocurrencies. But for me, they’re just predictions. This world is unpredictable, as what I have said over and over again in my previous posts. 

If it is true that cryptocurrency will replace FIAT completely, then banking will no longer be useful in the future.
According to my logic, banks will make their own digital currencies as bitcoin competitors, because they need centralized digital money to keep the banks in existence.

[Janation]

I always will not, and I will stick to that.

We all know that these cryptocurrencies are a great thing in the future since we would be able to transact money anonymously and the government will not be able to track us but the thing here is that they are also the ones that will make the decision hence ending up in my opinion that it will not happen since they will not allow it. They may be able to create their own cryptocurrencies since we are going to that but I don't think it will fully replace fiat and I don't think that banks will be useless in that time too.

[CodyAlfaridzi]

Overcoming government hurdles is a big if. Why would the government allow crypto instead of creating their own digital currency?

As we look to the decade ahead, it would not be surprising if a new and mainstream cryptocurrency were to unexpectedly emerge.

Contrary to the writer, I would be very surprised in there's a new crypto substitutes Bitcoin as the mainstream cryptocurrency. I don't see any scenario where this could happen.