Cryptocurrency will not replace fiat currency

[Crypto5060]

There are people who will always prefer to deal with paper currency than digital currency. There is less volatility of fiat currencies compared to cryptocurrencies. In the long run, both will exist alongside each other.

[stephanirain]

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?

This has been debated before and there are idealistic people that believes that cryptocurrencies will fully replace fiat in the future. Realistic people meanwhile can only see up to the point where some strong cryptocurrencies can coexist with fiat. It is difficult to determine what will happen in the future and whatever vision you believe in, I hope that the industry will still survive because it helped many people and opened up new opportunities to change the market.

[BitDane]

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?

Whate ever Satoshi intended for cryptocurrency, people look at it as a stepping stone to have financial freedom.  They only participate to get profit from it.  Without the motivation of getting profit, people will stay away from cryptocurrency because they are far more comfortable in using fiat currency.

[Pinkris128]

A lot of people has been always expecting that cryptocurrency or bitcoin could replace fiat currency in the future because they say that crypto is really much better than fiat when it comes to fast transaction and security. But cryptocurrency cannot replace fiat currency because fiat is supported and controlled by the bank and the government, unlike crypto it is still not yet legalized or accepted by other countries.

[arimamib]

actually it depends on someone's use too, if people use it for daily transactions there will be a possibility that bitcoin will replace FIAT, but so far the use of bitcoin is still more for investment and also trading on the exchange. whereas to make payments in daily life is still limited by existing regulations.

[kro55]

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?

This is true people are using bitcoin as an asset of investment and nobody is willing to take it as currency. There are reasons for that, how many places you have in your surroundings where you can use bitcoin or other associated crypto? Probably very few (if you are living in crypto friendly country like S Korea or Japan), in my case they are none. I hope that answers your query.

[inoes]

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?

that's the advantage of Bitcoin, other than as a means of payment, can be used as an investment. Fiat currency is never irreplaceable, because it is clear and easy to use. Bitcoin is only part of Cryptocurrency, part of Blokchain, if for reasons of speed and transaction costs, then some people choose Altcoin ...

[White Christmas]

actually it depends on someone's use too, if people use it for daily transactions there will be a possibility that bitcoin will replace FIAT, but so far the use of bitcoin is still more for investment and also trading on the exchange. whereas to make payments in daily life is still limited by existing regulations.

That's right when the people are using cryptocurrency as an way of investments then probably we can say that they are the one who are the investors that are in the cryptocurrency for profiting although we all know that all of us are here to earn profit but those investors that are risking their money in order to invest in some project is the one who are more risking part on it. And for those people who are just using cryptocurrency as a daily transaction for example as buying any products or things from a online shop and doing online shopping then probably this are those people we can called as a fiat user because they are using bitcoin as an daily transaction in order to supply their needs.

[pandanaran]

in fact the main purpose of cryptoqurrency is as a transaction tool like paper money in real life in the future, but I personally am not so sure of that. I personally only use crypto as an investment tool to make a profit and nothing more than that.

[nutriagrigia]

actually it depends on someone's use too, if people use it for daily transactions there will be a possibility that bitcoin will replace FIAT, but so far the use of bitcoin is still more for investment and also trading on the exchange. whereas to make payments in daily life is still limited by existing regulations.

Bitcoin may not be used as a payment tool for your daily needs, but it will always be used for large transfers and for any large purchases(houses/cars etc). other cryptocurrencies will be used for  any daily purchases, but so far it is not clear what kind of coin it will be

[Bonenx14]

in fact the main purpose of cryptoqurrency is as a transaction tool like paper money in real life in the future, but I personally am not so sure of that. I personally only use crypto as an investment tool to make a profit and nothing more than that.

Its main purpose is to carry out transactions, but the growing price of bitcoin makes people rethink to use it as a daily transaction because the costs and transactions are also quite time consuming and what is clearly an obstacle is the regulation of a country.

[Bitcoinislife09]

in fact the main purpose of cryptoqurrency is as a transaction tool like paper money in real life in the future, but I personally am not so sure of that. I personally only use crypto as an investment tool to make a profit and nothing more than that.

I think cryptocurrency or even bitcoin is not going to be more than what fiat money is since the fiat money is already regulated by the government for sure this is the most of the countries around the globe use as a currency because it is what their national bank is issued to be. The cryptocurrency cannot be more than fiat money unless there are changes in its technology in my opinion for example bitcoin it could easily be the top alternative payment method that you could use but as a top currency in the future, we need a lot of development to achieve that for sure even the government is not going to approved to used this bitcoin as a national currency in a country.

[Mike Mayor]

Greedy people. We honestly don't need their type. ( We don't appreciate your kind around here xD ) Crypto is already replacing fiat for me more and more every day. The more jobs I get and the more places I am paid from the more I love crypto. I get paid more and more in crypto each passing day and there are many ways for me to use it. I actually don't use fiat very much. I sell crypto to top up my bank account like a wallet. Mostly my bank account is fairly low. I only sell crypto and send to my bank account when I need the fiat. I don't actually keep the fiat for very long at all.

[TIDOVEE]

Do we ever think both crypto currency and Fiat can still work together and make better sense, than pushing in the name of rushing digital we make things seem complicated. As matter of fact we are still enjoying Fiat. We gat no issues with Fiat but following technical advancement is what is pressurizing fiat out of our way. Combining digital and Fiat is what made cash transfer and with the use of ATM easier.i just want to make you know. The both are important.

[Swordsoffreedom]

That’s bitter reality of crypto that it’s still unable to find its way as a mode of payment system. Strict government regulation, crypto uncertain price and lack of awareness are some reasons why it’s still not used as currency. Even if it finds its way as payment system, it’s very unlikely that it will replace fiat.

[Diamond_Darrell]

Do we ever think both crypto currency and Fiat can still work together and make better sense, than pushing in the name of rushing digital we make things seem complicated. As matter of fact we are still enjoying Fiat. We gat no issues with Fiat but following technical advancement is what is pressurizing fiat out of our way. Combining digital and Fiat is what made cash transfer and with the use of ATM easier.i just want to make you know. The both are important.

I think that fiat and cryptocurrencies will go parallel to each other for a very long time. We are still at the very beginning of this path. Over time, the volatility of major currencies is minimized and it will be possible to safely choose what for and how to pay

[karanggatak]

Your points are absolutely true! Bitcoin is a currency system which effectively eliminates the need of an intermediary and is not limited by international borders! Still we take it as an investment! But here we need to understand why!

Being a common people, how often do you really send international remittance? How often do you really make international purchases? How often do you face such situation where you can't use your bank account to send or receive funds? If you can answer these questions, your concern will also be answered!

Those who need to use bitcoin for anonymous and intermediary free international transactions, they are using it! But the number of such people is very less! Majority of the bitcoin users look at it as a method to make money, either by holding or by trading and there's nothing wrong about it!

Bitcoin is popular today because it has given financial freedom to many people. So if people are happy that way, let it be an investment and a reason to happiness!

yes you are right bitcoin does give us convenience in international transactions without limits but transactions like this are very rarely done. and maybe the main purpose of Satoshi to create bitcoin is not for investment tools but if in fact at this time bitcoin is used more for trading and investment than payment instruments we have to accept it. because by investing in bitcoin we can get a big profit.

[GideonGono]

That’s bitter reality of crypto that it’s still unable to find its way as a mode of payment system. Strict government regulation, crypto uncertain price and lack of awareness are some reasons why it’s still not used as currency. Even if it finds its way as payment system, it’s very unlikely that it will replace fiat.

It can be used as currency but we can't say that it will replace fiat from permanent currency. That's the reality that we can invest from crypto but we can't fight it for the government from using it as a financial use because this is volatile and we can't use it for buying goods except we do converting before using it.

[RealMalatesta]

Who here really thinks that fiat currency will be destroyed and will never be used ever again? I mean that doesn't make sense at all, fiat currency is what the economical world around us is built around, I am not talking about the cash banknotes in your hand, I mean fiat in general, all those bank accounts all those stocks all those forex everything has fiat in them.

If one day humanity gets better and better and we reach to a point where we are doing interplanetary exchanges between goods, I am sure that it will be fiat that we pay those things in, maybe dollars or maybe something new but it will still be fiat. There is no reason why people should leave fiat aside and use crypto, both of those things can coexist together just like they are now, nothing has to change for it to go bigger in the future.

[nicolas1979]

Both are same actually but people see it different, crypto create fiat and fiat create currency. That's the circle and the different fiat has more powerful position than crypto in regulation and protection from banks. In my mind crypto doesn't need to replace fiat because now already has crypto pair currency in exchanges, soon or later fiat will lost users. Fiat only bridge into bank account and now crypto can do the same function.