Cryptocurrency will not replace fiat currency

[freedomgo]

Crypto to replace fiat currency is tantamount to saying we will replace the government in their position .

That's not gonna happen, more like crypto will slowly adopt to some centralize rules which we will not enjoy the full features of crypto which is anonymity.

[mahilchii]

That's correct, even the king of crypto currency doesn't have an identity to replace Fiat, but in most of the countries the government is not aware of what crypto is and they are banning straight away. The main concept of crypto currency is digital payment, people need to understand that first and encourage to make use of this.

[matchi2011]

Crypto to replace fiat currency is tantamount to saying we will replace the government in their position .

That's not gonna happen, more like crypto will slowly adopt to some centralize rules which we will not enjoy the full features of crypto which is anonymity.

if ever the government will fully adopt this system the very first thing is to have full access or have strict rulings in order to control the flow of investment that will be used inside this industry. It will not get the same treatment since no one / no government will accept system that exist without any house rules
that being implemented to avoid abused.

[marilynmanson21]

if I look at the blockchain function in general, satoshi nakamoto makes bitcoin to eliminate the centralized system,
That is why cryptocurrency has the advantage of decentralization, if it becomes a currency or a means of payment or just investment, it all depends on the wishes of the market, because the sustainability and function of bitcoin depends on the community.

[shoreno]

The main concept of crypto currency is digital payment, people need to understand that first and encourage to make use of this.

some understand it already and they already use it while some have more expectations on crypto and they think that crypto can replace fiat in the future  . you already explain here if what is the purpose of crypto  . 

crypto uses an internet and if no internet no crypto also  , that is also the time that we can make use of  our fiat currency   . see the difference  ? crypto is not too mighty to overtake fiat

[CodyAlfaridzi]

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 think the main reason was because not many merchant accept Bitcoin (yet) and it's legal status as means of payment are still in disputes in many countries. As simple as that. The fact that it's volatile makes it more attractive as a trading and investment for the time being.

I'm sure more people will use Bitcoin as payment means once we have a clear regulatory frame for it and more merchants starts accepting it.

[HabiebRiziq]

It's very true that BTC was initially developed to solve problems like those posed by intermediaries, curbing drawbacks to p2p payments. However, nowadays many see BTC as store of value, and hence it will never replace FIAT. Even if it served its original purpose to the core, being used mainly for payments and not long term investment per say, it can't still replace FIAT. The reason is because both crypto and FIAT are relevant, and crypto can't replace FIAT entirely in the real sense.

Of course crypto is a digital and Virtual currency which can't be appreciated at local trades that uses fiat cash. It's complicated because it operates digitally, and not all part of the world already implemented internet on their every transactions. So this is impossible to replace fiat as mode of payment on all sectors, most probably there's an optional choice whether fiat or crypto because both are application for this modern times.

Yes it is true that not all transactions in this world have implemented technological advancements to use payments through the internet, I don't think anyone will be replaced because they both have their respective roles, in remote areas for example those who are not familiar with technology or the internet will certainly use cash to make payments and that is normal. So for me there will be no such thing as replacing positions because both have their respective uses.

[SquallLeonhart]

Bitcoin was created for transaction but having all these altcoins makes everything look different.
Altcoins are mainly created for the purpose of investment and since they are similar to Bitcoin, that makes people believe they are the same and they now see Bitcoin as an investment and not as a method of transaction.

I won’t really blame them and adding the volatile nature of Bitcoin also discourages people from using it as a method of transaction. Moreover I don’t expect Bitcoin to replace fiat, I know for sure that even if we are going to start making use of cryptocurrency they are going to be the ones that are created by the government.

[michellee]

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 think the main reason was because not many merchant accept Bitcoin (yet) and it's legal status as means of payment are still in disputes in many countries. As simple as that. The fact that it's volatile makes it more attractive as a trading and investment for the time being.

I'm sure more people will use Bitcoin as payment means once we have a clear regulatory frame for it and more merchants starts accepting it.

Maybe in the future, we will see many merchants available that will accept bitcoin and the other coins so we can use crypto to pay anything we want. But if we talk about regulation in all countries, we don't know when all countries will accept cryptocurrency. I think if the government can see that crypto can help them in the financial section, they will integrate or apply cryptocurrency with their system.

[davidroux]

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 think the main reason was because not many merchant accept Bitcoin (yet) and it's legal status as means of payment are still in disputes in many countries. As simple as that. The fact that it's volatile makes it more attractive as a trading and investment for the time being.

I'm sure more people will use Bitcoin as payment means once we have a clear regulatory frame for it and more merchants starts accepting it.

Maybe in the future, we will see many merchants available that will accept bitcoin and the other coins so we can use crypto to pay anything we want. But if we talk about regulation in all countries, we don't know when all countries will accept cryptocurrency. I think if the government can see that crypto can help them in the financial section, they will integrate or apply cryptocurrency with their system.

Currently, a lot of coins are suitable for payment and surely the era of the crypto market will be very developed because blockchain technology is being applied in many areas. I think there is no need to wait too long to see this because in my country there are also a lot of stores that accept payment in Bitcoin and some altcoins. Of course, my country government does not prohibit it but it will certainly be strictly regulated.

[anjiitem]

The main concept of crypto currency is digital payment, people need to understand that first and encourage to make use of this.

some understand it already and they already use it while some have more expectations on crypto and they think that crypto can replace fiat in the future  . you already explain here if what is the purpose of crypto  . 

crypto uses an internet and if no internet no crypto also  , that is also the time that we can make use of  our fiat currency   . see the difference  ? crypto is not too mighty to overtake fiat

Yes it is true, both have their respective uses at certain times and cryptocurrency itself requires the internet and for some places that are difficult to access or difficult internet in the area, cryptocurrency there cannot be used and we need fiat. And for me personally cryptocurrency will not replace fiat but cryptocurrency has its own advantages that we can make transactions without the need to meet face to face.

[masterrex]

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 think that's the reason why the market is unstable, because most of the cryptocurrency in the market was not utilized the way it was made, instead we only use it more for trading and investment purposes, because of these reality, most of the top cryptocurrency in the market like Bitcoin,Eth,XRP,EOS etc was just easily losing its value overtime  because they are all dependent on trading demand and not for its true function and purpose.

[PrissMCclen]

Well you are not wrong you are only saying your mindset, but the truth is that blockchain technology is the future and cryptocurrency will be the only currency in the nearest future.

[Youghoor]

Personally, i don't really think Satoshi Nakamoto developed Bitcoin to place fiat currency but rather introduce an alternative way people can easily send funds without any third party involvement. Considering how blockchain and Bitcoin were designed, these inventions were meant to bring decentralization into our financial ecosystem rather than replacing fiat currency. Bitcoin needs fiat currency to exist, without it bitcoin can't exist.

[memed97]

Well you are not wrong you are only saying your mindset, but the truth is that blockchain technology is the future and cryptocurrency will be the only currency in the nearest future.

Why do you say that blockchain technology is the future and cryptocurrency will be the only currency in the nearest future? Is it because the market has started to improve? or because the token that you hold has begun to rise in the market price?

[FairUser]

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 are right the first few lines, Bitcoin was created to trade without intermediaries and can trade worldwide quickly and safely. In addition, bitcoin is now more speculative than using them in everyday life.
But you should remember that in order for Bitcoin to be popular, we need the approval of governments around the world. And so far there are not so many countries accepting it so we need to wait more for this to happen.

[kang_kung]

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?

Yes, majority people right now invest in cryptocurrency only because they saw it as a good way to get high ROI and not for the 'so-great currency' as the way it tries to sell to us.
But that's because of the unstable and variable of cryptocurrency in terms of price. There are people using it for the 'currency-ish', a bit low but still there as a minority number so nothing to worry about.
Heck, if USD, gold or silver somehow become unstable and variable in price, I'm willing to bet there will people start to hoarding them as well.

[Xardasim]

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.

Absolutely true. We've already forgotten the main goal of Bitcoin. At present, community doesn't want crypto to benefit the economy, but to increase in price. No one cares about the decentralization, future, Satoshi, Bitcoin. USD earned today through Bitcoin is more important than anything else. Already, the instant drop of the price is due to these thoughts. Otherwise, if there's confidence in Bitcoin, not everyone sells immediately when the price drops.

[bluebit25]

Until now, Bitcoin has not been applied to payment. Because there are so many things binding it, for example governments that haven't accepted bitcoin and this market yet. And the price of bitcoin is always volatile and very difficult to use for payment. So this market is still at an early stage and it is best to speculate on it

[airdnasxela]

Well you are not wrong you are only saying your mindset, but the truth is that blockchain technology is the future and cryptocurrency will be the only currency in the nearest future.

How can you be so sure about that? Both blockchain technology and cryptocurrency have a place in the future but not to the point that cryptocurrency can replace fiat. Do you think governments and all the people will agree to replace fiat when we've been using it a long time ago? And the nature of decentralized crypto is still vague to become a main currency for everyday transactions.