Cryptocurrency will not replace fiat currency

[Bukata]

I don't see cryptocurrency fully replacing fiat, even though Bitcoin was created as a means of payment but remember, not all people around the world have been able to get the knowledge, practicalise using and adoption of cryptocurrency. Even some governments haven't adopted it fully and so on.
We still invest with fiat currencies and so nothing is wrong with investing in cryptocurrency.

[terrific]

It's part of the progress of cryptocurrency. Just like what they tell about cash being the king, the same goes for cryptocurrencies.
The main idea is still there but it has evolved over time and we should be proud of it seeing how these things are changing thus, making crypto useful and valuable.

[Bestmanbuka]

Cryptocurrency would not replace Fiat money because each has it's uniqueness not all the countries have adopted cryptocurrency and not everybody knows or have knowledge about cryptocurrency and people can invest with Fiat currencies too, so I don't think it's wrong if people invest with cryptocurrency too. As a matter of fact I don't think Bitcoin has been derailed of its duties, most of the people that have it use in for transactions and also for investment which is not bad, so I think it's still moving in the right direction

[lousie9]

yes, although the purpose of bitcoin as a transaction tool is like a paper currency but it is unlikely that can happen. in fact, there are still many countries that do not recognize or do not support the presence of the crypto industry. on the other hand I think people prefer to use crypto only for investment tools. especially like BTC is a profitable investment.

[greenlanternlight01]

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 really think it will in due time, not now of course but it will come a time. We just need some massive adoption which would not happen now given the different market situation in every country. But it would still be great to see it happening.

[DDante]

This is hard to believe, you said crypto can't replace Fiat but Central bank plans to release CBDC soon, the future I see is digitalization, the time will come where Fiat won't be a big deal anymore but do find time to do research on vendors and places where crypto are been used as means of payments, you will be amused

[jajorforce]

yes, although the purpose of bitcoin as a transaction tool is like a paper currency but it is unlikely that can happen. in fact, there are still many countries that do not recognize or do not support the presence of the crypto industry. on the other hand I think people prefer to use crypto only for investment tools. especially like BTC is a profitable investment.

We can't stop investment, who invest only in making profits. Like the internet was invented for a good reason but some people are using it for bad purposes. It doesn't mean that we're not using Bitcoin which purpose Bitcoin was invented. Different people always exist and these people will take some time to use in real cases.

[marks1976]

This is hard to believe, you said crypto can't replace Fiat but Central bank plans to release CBDC soon, the future I see is digitalization, the time will come where Fiat won't be a big deal anymore but do find time to do research on vendors and places where crypto are been used as means of payments, you will be amused

CDBC will act as an alternative for the digital payment, especially for fiat currency. That means fiat will still exist. China has already released its digital yuan and it doesn't mean it will replace the physical money of yuan

[sky_Gritzz]

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!

great explanation mate, of course "few" people who use bitcoin are for investment like me, and  we cannot be completely separated from FIAT we still need them.

usually not many super/mini market are support electronic payment moreover for common people who are not understand about cryptocurrency, that's why i think bitcoin is alternative investment but have value more than invesment

[ahyadinnn]

This is hard to believe, you said crypto can't replace Fiat but Central bank plans to release CBDC soon, the future I see is digitalization, the time will come where Fiat won't be a big deal anymore but do find time to do research on vendors and places where crypto are been used as means of payments, you will be amused

CDBC will act as an alternative for the digital payment, especially for fiat currency. That means fiat will still exist. China has already released its digital yuan and it doesn't mean it will replace the physical money of yuan

Fiat money will never be replaced by crypto, cryto is just an alternative for digital payment needs and investment tools, many countries have created their own cryto currency and even then to facilitate its users

[Vitalicus]

This is hard to believe, you said crypto can't replace Fiat but Central bank plans to release CBDC soon, the future I see is digitalization, the time will come where Fiat won't be a big deal anymore but do find time to do research on vendors and places where crypto are been used as means of payments, you will be amused

CDBC will act as an alternative for the digital payment, especially for fiat currency. That means fiat will still exist. China has already released its digital yuan and it doesn't mean it will replace the physical money of yuan

Fiat money will never be replaced by crypto, cryto is just an alternative for digital payment needs and investment tools, many countries have created their own cryto currency and even then to facilitate its users

I'll be a bit skeptical about this. We can't know that right? Therefore, we can't be so sure cryptocurrencies can't replace fiat money. In the future world, anything can happen unpredictably. One thing for sure we can know is that cryptocurrency market will keep expanding and raising in the future!

[harapan]

indeed it was created to make it easier to do transactions but because the price of bitcoin that cannot be set thus making some people forget about the main purpose of bitcoin, they use it to get profit

[sky_Gritzz]

I agree with you. In general, Fiat is an irreplaceable option in this world, and it is certain that no one will use crypto to pay because the value of the coins in this market is very volatile. I think people prefer to use cash or use credit cards to pay because it is a lot faster. In addition, many large countries around the world have not yet legalized this market, so in general, the crypto market is still not comparable with other potential markets.

event bitcoin popularity are growing massively, but we still need FIAT for any traditional transactional, i just think Bitcoin and other altcoin are just alternative investment with big potential to grow up and valuable than Gold or other investment