Bitcoin will be used instead of paper money

[finaleshot2016]

Bitcoin will be always a digital currency, can't change that fact no matter what we do. It also requires the internet for the transaction while paper money is an actual thing that we can see. We can't also replace paper money since it was made many decades ago and it symbolizes the country. Many banks are not in favor of bitcoin because they're centralized while the bitcoin is decentralized. Also, bitcoin has blockchain so how can you implement that if it's paper money.

Another thing is, what's the solution for the volatility of bitcoin? It's impossible that's why bitcoin will remain to be a digital currency.

[husin666666]

The main obstacle to deterring bitcoins is government institutions and banks that fear the growth of Bitcoin and thus the collapse of fiat currencies

[error08]

The main obstacle to deterring bitcoins is government institutions and banks that fear the growth of Bitcoin and thus the collapse of fiat currencies

That's not the main problem imho, the biggest obstacle is bitcoin scalability, bitcoin network can't keep up with paper money due to the block size limit which leads to the number of transactions that can be confirmed on the network approximately every 10 minutes. Although the bitcoin blocks now have a maximum size of 2 megabytes, the transaction fee still increases whenever the rally starts, too many queues of transactions on the mempool and people begin to pay a higher fee to get transactions confirmed.

[shield132]

The problem with some of you guys is that you either don't want or can't imagine the fact that you can use paper money virtually. Have you ever seen visa/mastercard? Or any other card by your bank? You can have following: $100 real cash or $100 on a virtual account, the only difference is that in the first case you have that cash and in the second case - the bank owns it but allows you to spend it. Bank offers you following: It saves your cash while allowing you to spend the way you wish but you have to pay some fees for it's services.

Bitcoin isn't the only digital solution, it has it's pros and cons and personally I think that it's better alternative of current money system but at the same time bitcoin alone with current form can't be used globally for daily needs, we need another solution and it's a very difficult task.

[BuNga_cute]

I doubt Bitcoin will replace paper money, try to count how many countries allow Bitcoin as payment. The amount is very small,
because the government objected to the decentralized Bitcoin being used as payment. Therefore, most countries that accept
Bitcoin are only limited to investment, maybe Bitcoin as an alternative payment is still acceptable to the government.

[hulla]

It reasonable for Bitcoin to be used instead of fiat currency due to Bitcoin potential and the world going digital but the case of national currency been obsolete is the reason the government dont want to support Bitcoin and the Chinese government are the perfect example so I will say it too early to decide what will happen in the future despite the fact that Bitcoin seem to be supported by some banks/institutions.

A very well said, fiat couldn't be totally obsolete maybe bitcoin could be one of the mode of currency in one country where each and every country would met without the means of exchanging from one currency to another but the used of fiat inside the respective country i guess would still be their. Each country has differenct economic growth like third world country where i bet so impossible to used bitcoin as a whole currency circulated inside the country.

Absolutely, Bitcoin posed the best features for international trading, and aside from every country having different economic growth, rules and regulations in terms of international trading fiat currency are still needed to balance the act of making payment in the rural area. However, the fiat currency represents the trademark of every country.

[Kong Hey Pakboy]

I doubt Bitcoin will replace paper money, try to count how many countries allow Bitcoin as payment. The amount is very small,
because the government objected to the decentralized Bitcoin being used as payment. Therefore, most countries that accept
Bitcoin are only limited to investment, maybe Bitcoin as an alternative payment is still acceptable to the government.

Bitcoin and other cryptocurrencies as a payment method in exchange for goods and services, but it will be risky for stores and businesses to accept bitcoin as payment because of its volatility that makes it completely unpredictable. There are some people who also have some trouble paying expensive fees in a bitcoin transaction, so it might take a long time for the government to regulate bitcoin as an alternative payment.

[NelfiNovita]

I find it too much to make bitcoin a substitute for paper money. I'm not at all sure and it's hard to happen. although currently the role of biitcoin is quite large, making it a substitute for paper money will not be realized. bitcoin is still bitcoin, and the role of paper money is paper money. both are mutually beneficial, but that does not mean having to change positions.
here we have to be a little bit wise, although we all love bitcoin, to make it the main exchange is not a good thing.

in my opinion it is also impossible if bitcoin is used as a substitute for paper money. Bitcoin is a digital currency that cannot be controlled by the government, therefore the government will not legalize bitcoin as a substitute for paper money. Bitcoin can only run as it is today and will not be able to exchange positions with paper currency.

[budi691]

too quick to say Bitcoin to replace paper money, because the government has rules and authority that will be difficult to match centralized Bitcoin,
and the comfortable world bank with banknotes,
does the bank want to replace it with Bitcoin ?,
There are many obstacles Bitcoin to replace banknotes, but it is not impossible that this will happen

[mezzaluna]

"Bitcoin will be used instead of paper money"
we all know about Bitcoin. Even a few years ago no one had any idea about the sale. At today's price of 18 thousand dollars, the price of 1 bitcoin. It is a remarkable revolution. Bitcoin needed only one thing. Big companies accept Bitcoin. But it has been
somewhat successful in 2020. Bitcoin is going to be the currency of the future. Its value will increase at such a rate in the next five to six years. Which no one could have imagined. One is just people believing in bitcoin. If you use paper money you can destroy that paper money. but you can never destroy Bitcoin. Which you can't catch. There is no question that you will ever destroy it. This is mainly due to the differences between Bitcoin and paper money.

What you are currently projecting might be possible but Bitcoin as a substitute for paper money is quite hard because of the fact that not all people is knowledgeable about Bitcoin. Its also impossible for Bitcoin to be widely distributed since its not even widely known or studied by the government. It would be necessary to also introduce Bitcoin into Universities and Schools to study it and learning about Bitcoin will be very useful if we aim to change our financial system.

[erikoy]

Bitcoin is a good choice actually if you wishes to transact in anonymous to protect your privacy especially of it involves huge transactions that surely the banks will getting. The  bitcoin uses peer to peer network and does not needing any third party services needed that can take high taxes or transaction fee. This is not the way bitcoin is created and nor it will not happen to bitcoin instead it could only apply to banks and their services. However, bitcoin supply is only 21M and that is too.short if all the people around the world will get each a bitcoin.

[Sapphire915]

Bitcoin is great, but I don't see any possibilities for bitcoin to be the mainstream currency in the world. Yes, its an easy and reliable payment method that help us live an easy lives and all the benefits and great profits. But still, Bitcoin has a lot of things to show the world before it can replace the traditional fiat or the physical money that we usually used in our daily spending. Maybe in the future, but I really doubt it because there are a lot of things to be considered.

[kolbalish]

Maybe it will happen after many years. A few years ago nobody knows BTC but BTC took a place. So the way BTC continues will not smooth but BTC will reach a position one day. Maybe one-day paper money will vanish and people will use digital currency.

[imstillthebest]

paper money is stable and more suitable for purchase but btc price is growing massive and if this continue it will be hard to use btc for purchase but even before people already find it hard to use thier btc for purchase because of regrets that it will grow and because of other issues that exist in Bitcoin .
durable wise , btc is more better because it's virtual but money is easy to damage but will you destroy you money intentionally ? We all keep our money securely

[XCANA]

I can't see bitcoin replacing paper money, because if you want to invest in crypto firstly you need to deposit your fiat currency through your local banks to trade or buy bitcoin.

Bitcoin can't be a fiat currency because of the way it was designed to operate, it's an internet money and will remains as such till the close of ages. The paper money will be different from the digital money and the two will be use for same purpose except that, the internet money will require internet and the paper money won't just my honest opinion.

[Akiko]

Maybe it will happen after many years. A few years ago nobody knows BTC but BTC took a place. So the way BTC continues will not smooth but BTC will reach a position one day. Maybe one-day paper money will vanish and people will use digital currency.

We are near to that to happen , at this moment there are many marketplace already accepting crypto currency as mode of payment.  you can now use your Bitcoin in different ways like hotel booking or flight bookings in a place where its already accepted.

we are so advanced that even games will adopt crypto currency and blockchain next time we will see in the mainstream media more works that use  blockchain technology and have real value and not just  for enjoyment.

[adzino]

"Bitcoin will be used instead of paper money"
we all know about Bitcoin. Even a few years ago no one had any idea about the sale. At today's price of 18 thousand dollars, the price of 1 bitcoin. It is a remarkable revolution. Bitcoin needed only one thing. Big companies accept Bitcoin. But it has been
somewhat successful in 2020. Bitcoin is going to be the currency of the future. Its value will increase at such a rate in the next five to six years. Which no one could have imagined. One is just people believing in bitcoin. If you use paper money you can destroy that paper money. but you can never destroy Bitcoin. Which you can't catch. There is no question that you will ever destroy it. This is mainly due to the differences between Bitcoin and paper money.

Just because bitcoin "can't be destroyed or has limited supply" doesn't automatically make it perfect for using it instead of paper money. There are still a lot of problems that needs to be addressed and people are still working for finding solutions to current problems. Once we have a perfect system, then we might be able to replace fiat currency, but that is not going to happen anytime soon. Maybe after few decades if nothing goes wrong?

[ELL_011]

No matter how much I like Bitcoins , it cannot be used instead of paper money.

It's Volatile
It does need internet
We need to solve the transaction fee problem
There is still updates needed in lightning network
Bitcoins is not acceptable everywhere in the world
Many banks are not in favour of Bitcoins and thus they usually ban the accounts if they are being used
Bitcoin will need fiat for sure
We have people living without electricity and mobile phones what about them ?
What about old people and super young kids ? How will they be able to buy anything ??

No matter how eager we are to transition from fiat money to cryptocurrency those factors above are stopping us from evolving. But those factors really need to be considered because if a country changed a system, all of the people living in that country shall follow and have the capability to follow. Maybe cryptocurrency is only for privileged people. People who have access to the internet, have digital wallets, have cellphones, have a proper education. Thus, maybe this cryptocurrency is not for all. Not for lower-class people. Not for a third-world country whose poverty is at a high rate.

[plvbob0070]

"Bitcoin will be used instead of paper money"
we all know about Bitcoin. Even a few years ago no one had any idea about the sale. At today's price of 18 thousand dollars, the price of 1 bitcoin. It is a remarkable revolution. Bitcoin needed only one thing. Big companies accept Bitcoin. But it has been
somewhat successful in 2020. Bitcoin is going to be the currency of the future. Its value will increase at such a rate in the next five to six years. Which no one could have imagined. One is just people believing in bitcoin. If you use paper money you can destroy that paper money. but you can never destroy Bitcoin. Which you can't catch. There is no question that you will ever destroy it. This is mainly due to the differences between Bitcoin and paper money.

It's kinda hard to predict bitcoin's price in the next five to six years so I don't know if what you have said that it will increase like no one ever imagined will really happen. Bitcoin is doing good and it's also gaining more attention even from big companies but for me, paper money will still be used in the future regardless of how bitcoin becomes more popular in the coming years. People will eventually accept and adopt bitcoin but paper money will still remain.

[mezzaluna]

I can't see bitcoin replacing paper money, because if you want to invest in crypto firstly you need to deposit your fiat currency through your local banks to trade or buy bitcoin.

Bitcoin can't be a fiat currency because of the way it was designed to operate, it's an internet money and will remains as such till the close of ages. The paper money will be different from the digital money and the two will be use for same purpose except that, the internet money will require internet and the paper money won't just my honest opinion.

This should be etched on the minds of the people on thinking if Bitcoin could be created physically. It would be impossible to create Bitcoin because of its high value and it would not be normal to carry out a single coin that would have a value of $18k USD. If Bitcoin would be used, it would be because the human age is so advance that everybody would be knowledgeable about Cryptocurrencies.