Cryptocurrency will not replace fiat currency

[JCviggen]

Now there is such a time in the market when the market allows you to earn good money on the volatility of coins and it would be very foolish not to use what the market gives you. many people who invest in altcoins also believe that bitcoin is the best coin, but it is obvious that now it is not yet developed enough to be a payment tool anywhere in the world

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[Odebowa]

As a matter of fact to some extent it can be so, since fiat currency is a currency that has legally back up by a government of a country, but in the situation where government legally back in all the country of the world it can replace fiat currency in all country of the world since it can serve as a medium of exchange for goods or service bought

[xiboothrezi]

~~ 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 are right, one of the reasons is to unravel the complexities of third parties and provide freedom. However, most people tend to use it as an investment tool and commodity trading because it is indeed the most effective, BTC and other altcoins have high volatility so it is not easy to set it as a price for an item or service, which is why other innovations, namely stable coins such as USDT, appear.
Moreover, this is still the initial stage, there are still many innovations and developments being carried out, after all, most governments still cannot accept cryptocurrency in full, there is economic independence that must be maintained as a form of existence of a country's leadership, and that we must understand. Use as necessary, take the benefits.

[djgtr]

Now there is such a time in the market when the market allows you to earn good money on the volatility of coins and it would be very foolish not to use what the market gives you. many people who invest in altcoins also believe that bitcoin is the best coin, but it is obvious that now it is not yet developed enough to be a payment tool anywhere in the world

The world started to gain awareness on bitcoin particular on the system that it's has been used. Volatility of this coin was based on the dollar rate, so there's no problem if people adopt it as their main currency. However, fiat replacement cannot be fulfilled that easy, because there were some situations that we needed to use paper money or fiat cash on specific goods that's inaccessible by internet.

[damar09]

maybe some countries think bitcoin is a payment tool that will replace fiat, because satoshi made Bitcoin / cryptocurrency might be created to aim at creating a digital payment instrument, in an era where technological advances are growing, and why some consider bitcoin is one of the best investments because, it can only done online, whereas if fiat was created for real payment,

[Teraboy]

maybe some countries think bitcoin is a payment tool that will replace fiat, because satoshi made Bitcoin / cryptocurrency might be created to aim at creating a digital payment instrument, in an era where technological advances are growing, and why some consider bitcoin is one of the best investments because, it can only done online, whereas if fiat was created for real payment,

So many people are in demand to use bitcoin as a payment system in the future and those countries are getting threatened caused by this thing. i think the satoshi's vision is not only created the payemnt instrument but the freedom to our financial to leave the centralized system that gives a lot of limitation for us to control our money. Remember some are still seeing bitcoin as commodity too.
But the possibility to replace fiat is only a small percentage caused by it has backed by the regulators and financial institution. Im aware about the regulation is the main thing that still becomes the opposite thing to the crypto.

[Maslate]

maybe some countries think bitcoin is a payment tool that will replace fiat, because satoshi made Bitcoin / cryptocurrency might be created to aim at creating a digital payment instrument, in an era where technological advances are growing, and why some consider bitcoin is one of the best investments because, it can only done online, whereas if fiat was created for real payment,

The real reason why bitcoin is invented is to make it as a real currency like dollar and euro but since majority of the people are making it as a good investment and never really use it in most of their payments, so bitcoin remains as an alternative currency next to fiat. Crypto will gain more recognition in the next years but replacing fiat for crypto is still very impossible for now to happen.

[passwordnow]

That's their goal and to make money within the short term. They are into coins like that but they don't know the full history of that forked coin from BCH and another forked coin from Bitcoin. The mission of satoshi for creating bitcoin is truly to make it a decentralized currency for payments but it has changed all of a sudden over time because it has created a value that we see it keep growing from time to time. So for the investors' perspective, they are okay buying it as an investment but they should also use it as a currency.

[crossabdd]

satoshi makes bitcoin not for investment, as you say. satoshi made it to solve complaints with third parties. investments arise from private holders. Why,? because the holders see a limited bitcoin supply, and have a difference to get it. unlike fiat which is printed without borders. bitcoin is mined with certain difficulties, and the more difficult it will get. this is where the bitcoin holders assume. they consider this to be a commodity rather than having to assume a currency. because demand is getting bigger, while supply is getting smaller.

[fuer44]

yes, it is impossible because crypto and fiat are clearly different. fiat has intrinsic value, whereas crypto does not. besides that, crypto is also very volatile and very different from fiat, and crypto will be difficult if used as a primary payment. I think crypto is more suitable for use as an investment asset or a secondary commodity.

[Duzter]

Fiat money usage around the globe is very common. People need to be educated to use cryptocurrencies, as everything associated with cryptocurrencies is connected. Now the usage of cryptocurrencies with time keeps growing, but the same hasn't reached the level to go mainstream. It takes time, maybe after few generations this can happen and until then cryptocurrencies will serve as alternate to the fiat.

[TastyChillySauce00]

The real reason why bitcoin is invented is to make it as a real currency like dollar and euro but since majority of the people are making it as a good investment and never really use it in most of their payments, so bitcoin remains as an alternative currency next to fiat. Crypto will gain more recognition in the next years but replacing fiat for crypto is still very impossible for now to happen.

Actually it's fine if bitcoin is being used for investment. There are many people out there who invest to fiat for example USD and Euro but the problem which bitcoin faces is the fact that most of people who use bitcoin prefer to use it as an investment rather than spending it and I can see that people who truly use it for making an online transaction is quite few compared to majority of bitcoin users meanwhile those fiat investors are only minority.

[ballerin and giroud]

Bitcoin price is volatile and the user will look the chance to using it as an investment place. Other than that, there are many regulation who stated that bitcoin is being harmful to be use as a transaction tool, I think these problem will make the user didn't use cryptocurrency as payment system.

I will be happy if the regulation especially in my country that allowed the transaction can be use as payment system even I will make it as daily transaction since it will be useful as of now. The money paper is rare to be use, such as in my country there are many platform pupping up which provide the online transaction for example paying electrycity and etc.

[mcnocon2]

Sad to say but very true, people enters into this space because they knew that they can make money out of it. Some people does trading for a living because its volatile and some just hold hoping that it will become mainstream one day. Bitcoin becomes digital gold and not a currency, but if people realize the true reason why bitcoin is created they will use it on a daily basis.

[pikkie]

Fiat money usage around the globe is very common. People need to be educated to use cryptocurrencies, as everything associated with cryptocurrencies is connected. Now the usage of cryptocurrencies with time keeps growing, but the same hasn't reached the level to go mainstream. It takes time, maybe after few generations this can happen and until then cryptocurrencies will serve as alternate to the fiat.

cryptocurrency is difficult to make as a global currency, you can see an example of a very limited bitcoin coin supply if bitcoin is used as the currency used by many people then it will make bitcoin expensive and it will be very difficult to get bitcoin but there will definitely be manipulation price because the price is not stable, whereas if you use an unlimited supply then it will make the price can be destroyed instantly because of the influence of the supply that is too much and will make the price very cheap.

so the conclusion is cryptocurrency is still very difficult if used for global payments.

[LouVandetta]

Regardless of how popular they are in the world and a lot of people are using them whether as an investments or things, it's still cannot replace fiat currency. Some people believe that it'll replace fiat eventually. But, you could clearly see that not everyone has access of using them freely. Tons of them still doesn't even know what a cryptocurrency is. Cryptocurrerncy is just like a digital investment, where in the end you're going to need fiat currency to how much their value. So having said that, it's hard to imagine them replacing fiat currency. At least not now or in the near future.

[BigBos]

Fiat money usage around the globe is very common. People need to be educated to use cryptocurrencies, as everything associated with cryptocurrencies is connected. Now the usage of cryptocurrencies with time keeps growing, but the same hasn't reached the level to go mainstream. It takes time, maybe after few generations this can happen and until then cryptocurrencies will serve as alternate to the fiat.

I think the principle of cryptocurrency is known by the public. it's just that more people need cash than digital, because of that, many people are more fiat than crypto.
as far as I know, people have learned to use crypto, because of the encouragement of digital payments that already exist today. I think, little by little, crypto will become very common, it's just that I don't think that crypto will exceed fiat.

[yulionoo]

of course most users of bitcoin and cryptocurrency only use bitcoin for trading and investment. they feel loss if using bitcoin for payment tools. because by continuing to hold bitcoin we can make more fiat money. and to make payments we use fiat money. and also the biggest obstacle why bitcoin has not become a means of payment is that its value is very volatile and the number of stores that are willing to accept bitcoin as a means of payment is very limited and few in number.

[minairia3]

I can't argue with that cause youre right. It seems that majority of the crypto community are not eyeing on the potential or purpose of crypto. The main concern now is how to earn and profit from them. Many paltforms are focuses on liquidity right? Why not we concentrate on those who can replace modern technology in terms of use case. What if someone invented a tech that can replace internet that actually dont need to use online? Maybe that's innovation. For now btc is viewed as source of income for many. Admit that everyone dont be a hypocrite.

[julius caesar]

Cryptocurrency is created for us to be able to do some transaction worldwide in just one click. It fasten our transaction since it is working thru internet. It will help our government to have a faster improvement on their economy since the transaction is now faster. That is the main goal of crypto and not to replace the fiat money that we have. I hope some country understand it so that they will not ban BTC anymore.