Cryptocurrency will not replace fiat currency

[BlackFor3st]

Look at what happening around. The first cryptocurrency bitcoin was invented to reduce the hassle of third party and have borderless transaction. Isn't it true? Now, look at what happening. People are more into investing it than using it as currency.
Most interesting is people are most interested in coin which give more ROI, they are not interested in the currency-ish of a currency.
For example, some people are talking a lot about BSV, but if they have some research, they will never take it as currency, but as this is giving a good return now, it's best for them. Why man? Why don't we look into a decentralized coin? Why do we only take it as investment? Did Satoshi ever take it as investment? Or he invented Bitcoin for borderless payment and solution to the intermediaries problem?

People are using it as of now as an investment because most of the governments are not yet aware about crypto currencies. Once the awareness will spread all over the world together with the acceptance then bitcoin and other currencies will make another step and that is to replace fiat someday.

Our technology is keep on advancing therefore time will surely come that people will forget fiat and the era of digital payment will commence.

[Febo]

Cryptocurrency will not replace fiat currency

Yes it will. Biggest block chain use case is money. Why?  Because it is digital. And is worth something so can pay fees and that makes it secure. Many specially in last years believe blockhain killerap is in something else.

[biddicoin]

IMO no matter how you use crypto, it still helps crypto becoming big
In other meaning, you still helps crypto becoming big although you just use them as a speculation place

When you buy Bitcoin, then Bitcoin marketcap increase. It makes developer spirit to develop Bitcoin
Bcz you know that Bitcoin is on early stage. Need more improvement to be good as currency

So, there is such as "cooperation" between speculation and dedeveloping Bitcoin itself. Which both are important no matter they are

[Furryball]

Look at what happening around. The first cryptocurrency bitcoin was invented to reduce the hassle of third party and have borderless transaction. Isn't it true? Now, look at what happening. People are more into investing it than using it as currency.
Most interesting is people are most interested in coin which give more ROI, they are not interested in the currency-ish of a currency.
For example, some people are talking a lot about BSV, but if they have some research, they will never take it as currency, but as this is giving a good return now, it's best for them. Why man? Why don't we look into a decentralized coin? Why do we only take it as investment? Did Satoshi ever take it as investment? Or he invented Bitcoin for borderless payment and solution to the intermediaries problem?

Bitcoin was created to be like gold which means it's good for investment and yes anything that has value can be used as means of payment, bitcoin is meant to change people's life because of its scarcity feature too, moreover many merchants are accepting bitcoin as means of payments, the merchants are over 10,000 already

[Jpt]

How cryptocurrency is operating is not what it was invented for. Ever since bitcoin was invented in 2008, it is being used more in something like money laundering, rather than benefiting the people through its technology. I suspect this trend of making cryptocurrency just a platform for investment will harm itself. So authorities should think about it. 

[cryp24x]

You are definitely right. As I am always saying with all my previous comments, we should be using part of our coins or tokens so the market will have a movement. That will result to a healthier Crypto market which will help the crypto community grow. I am not saying that It is bad to have an investment but rather we must have both.

[Adriano2010]

I also think it might not happen and the main problem is that governments will want to still have a control on the money issued and other people not use crypto, but crypto is a way to fast send money to someone when need and is much way faster than bank transfer.

[tsaroz]

Look at what happening around. The first cryptocurrency bitcoin was invented to reduce the hassle of third party and have borderless transaction. Isn't it true? Now, look at what happening. People are more into investing it than using it as currency.
Most interesting is people are most interested in coin which give more ROI, they are not interested in the currency-ish of a currency.
For example, some people are talking a lot about BSV, but if they have some research, they will never take it as currency, but as this is giving a good return now, it's best for them. Why man? Why don't we look into a decentralized coin? Why do we only take it as investment? Did Satoshi ever take it as investment? Or he invented Bitcoin for borderless payment and solution to the intermediaries problem?

Blockchain based fiat are fiat cryptocurrencies. And they are coming real. Many countries have already started studying about it and many are thinking about it.
Soon every of the fiat would be on blockchain and people may argue it should not be called a crypto but they would be much more crypto than many of the coins circulating now.

[duuuuude]

For example darknet very efficiently uses bitcoin as a currency. In everyday life at the moment, it is much more convenient for people to use fiat and this is obvious. We do not know who is behind the name of Satoshi, for this reason it does not make sense to discuss who and why invented Bitcoin, let us leave it to the conspiracy theorists.

[Wysi]

I also think it might not happen and the main problem is that governments will want to still have a control on the money issued and other people not use crypto, but crypto is a way to fast send money to someone when need and is much way faster than bank transfer.

Yes there is no way that a crypto can replace fiat but still crypto can work in parallel with fiat and nowadays there are lot of stable coins which will be handy for us to make transactions with lightening speed without bothering about fluctuations. Already government and agencies will be losing on their tax and commissions they used to receive while transferring money across borders.

[TWW]

for the time being, crypto cannot replace fiat currency. but in the future when banks around the world agree and legalize the use of crypto I think all countries will make and manage their crypto for money circulation in their countries. this is not impossible because the world financial system must develop following the wishes of its users.

do you know people used to only use gold to interact with each other and then the bank provided a solution by using fiat money as a substitute for gold which is very difficult to carry anywhere? and when civilization develops, certainly bringing fiat money will make people think it is not important anymore because there is something simpler by using a payment platform that is already widely used.

[joseyphil82]

Even if crypto is going to replace fiat it's not going to happen that very fast, not until all the people in the world start using digital currencies more than fiat and gradually fiat are getting abandoned or neglected but belief me it's going to take a every long time

[Pffrt]

Anyone who entered the cryptosphere expecting to see cryptos replacing fiat in the future is a plain fool...As if the govt around the world would let their fiat ponzi scheme die when it's literally what keeps the top 1%, politicians, the banking system, etc, as filthy rich as they are.

My deal is very simple. I want bitcoin to be replacing fiat. Bitcoin to be taken as currency. People enter in the cryptosphere from the interest of the technology, not impressed by having good ROI. I am here because I enjoy using bitcoin when I pay my employees. I use writting service regularly and I pay with bitcoin. I am a fan of bitcoin because I have no fear of getting my account locked unlike other payment method.

[Obito]

Look at what happening around. The first cryptocurrency bitcoin was invented to reduce the hassle of third party and have borderless transaction. Isn't it true? Now, look at what happening. People are more into investing it than using it as currency.
Most interesting is people are most interested in coin which give more ROI, they are not interested in the currency-ish of a currency.
For example, some people are talking a lot about BSV, but if they have some research, they will never take it as currency, but as this is giving a good return now, it's best for them. Why man? Why don't we look into a decentralized coin? Why do we only take it as investment? Did Satoshi ever take it as investment? Or he invented Bitcoin for borderless payment and solution to the intermediaries problem?

I agree, as bitcoin market started to drive crazy compared to what it was back then, people started to take it as an investment although the purpose of it at some point is a cashless living, that in my opinion it become a norm up to this day. Besides no matter what crypto or the bitcoin itself would not still be in government taste thus having it as a currency is close to being impossible.

[oktana]

this is just something that is still measured by opportunity, and the crypto community places more emphasis on investment opportunities.

if there are many income methods circulating in the crypto world as sustainable jobs, then most people will not only think about investing, but this opportunity is still very rare for the whole. They also don't use it as a currency because nothing can be done on a wider scale of use, all of which are still covered by fiat.

[isaac_clarke22]

Look at what happening around. The first cryptocurrency bitcoin was invented to reduce the hassle of third party and have borderless transaction. Isn't it true? Now, look at what happening. People are more into investing it than using it as currency.
Most interesting is people are most interested in coin which give more ROI, they are not interested in the currency-ish of a currency.
For example, some people are talking a lot about BSV, but if they have some research, they will never take it as currency, but as this is giving a good return now, it's best for them. Why man? Why don't we look into a decentralized coin? Why do we only take it as investment? Did Satoshi ever take it as investment? Or he invented Bitcoin for borderless payment and solution to the intermediaries problem?

Well major adoption is gonna surely happen, but I can't still see it yet as something that would replace fiat. I had read this thread in the Bitcoin Discussion, almost the same as this topic. In the end, people would still convert BTC to USD unless we get that 100% adoption around the globe. It is still quite possible for fiats to be replaced, but people seemed to be got used to the traditional way of paying and making a transaction.

[Kersh768]

Look at what happening around. The first cryptocurrency bitcoin was invented to reduce the hassle of third party and have borderless transaction. Isn't it true? Now, look at what happening. People are more into investing it than using it as currency.
Most interesting is people are most interested in coin which give more ROI, they are not interested in the currency-ish of a currency.
For example, some people are talking a lot about BSV, but if they have some research, they will never take it as currency, but as this is giving a good return now, it's best for them. Why man? Why don't we look into a decentralized coin? Why do we only take it as investment? Did Satoshi ever take it as investment? Or he invented Bitcoin for borderless payment and solution to the intermediaries problem?

You do have a point. But as of now,  crypto being a currency or just mainly an investment asset already depends on how an individual perceives and uses it. Maybe most of us are seeing it as a currency which is made to break down the issue for a third party and to provide convenient and decentralized currency experience. But there are people who look cryptocurrency mainly as an investment asset which serves as an income generator only and not actually a currency at all. We cannot blame them because cryptocurrency is flexible enough to act depending on how we wish to use it and how we need it on our daily life basis. I agree that cryptocurrency cannot replace fiat because both are acting based on how they supposedly be and to maintain the balance in the economic sector. Fiat and cryptocurrency have their own unique features which makes them different not just in platform but as well with their usage. No one must be replaced nor eliminated among those two because both have their own roles to play in people's lives. We just need to sort out how we can incorporate on using fiat as is and cryptocurrency as is without overlapping each other's roles.

[cryptoangel]

Well explained, you nailed the points!
The USD is still main store of value currency by the majority of the world population/governments. The crypto ecosystem is far from reaching these levels due to the gaps in the system. For example, as a payment method using BTC is not efficient but there are altcoins that have the highest transaction per second rate. This TPS is not enough for accepting it as a mean of payment but there is no better alternative, unfortunately.

USD is a globalised currency so it will accept entire world and most of the peoples are holding the USD because of globalising currency will never die on forever. But cryptocurrency is a good growing currency so those are invest Bitcoin and altcoin they are all earn good profit. So it is too risky on every time and everyone know, Crypto will never replace the fiat currency but market technology improve simultaneously so anything happen on future world.

[Ratash]

Yes your right we should use it as a currency also but i thing they should make it easier for people by adding it in different used plateforms like online stores and in regular stores and to purchase any product.

[bonyaserg]

Personally, I believe that cryptocurrency is a terrific invention of digital currency. And this will provide great opportunities for financial transactions. Digital currency can be transmitted around the world and at the same time practically do not lose big commissions. In many cases, digital currency is very indispensable and provides great opportunities for payments. Accordingly, the fiat currency is also necessary and requires special attention. Since digital currency can be converted into fiat and used for its intended purpose.