Bitcoin will be used instead of paper money

[(o)(o)ilikeboobs(o)(o)]

Bitcoin is just a payment solution and it is difficult to replace paper money when Bitcoin is still not popular among the people. Even though I have been using bitcoin for many years, there are still a few stores that accept Bitcoin in my country, which hinders the widespread use of Bitcoin. Some other reasons are the confirmation time of a transaction and the cost of Bitcoin is too high, to use Bitcoin, everyone must have a mobile device with an internet connection so Bitcoin will never be able to change so is the convenience of paper money.

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[Ozero]

Bitcoin simply cannot replace paper money.  In addition, for this to happen, it is necessary for the government to take an appropriate decision and a number of practical measures to translate it into practice.  However, no government will take such a decision, since the national currency is an integral attribute of the existence of a sovereign state.  Therefore, national money in non-cash or cash form will exist as long as states exist.

[enhu]

Bitcoin simply cannot replace paper money.  In addition, for this to happen, it is necessary for the government to take an appropriate decision and a number of practical measures to translate it into practice.  However, no government will take such a decision, since the national currency is an integral attribute of the existence of a sovereign state.  Therefore, national money in non-cash or cash form will exist as long as states exist.

This is because it's the digital currency that will be used in the future. Even the CEO of PayPal indicates that BTC can be used to buy to the merchants using them and they will take care of the conversion to digital fiat as said here https://twitter.com/SquawkCNBC/status/1330874151410814976

Somehow this is going to be useful to BTC although paypal is going to profit more from it because they can accumulate BTC, it's still adoption.

[Spack17]

It is a big claim that fiat money will be replaced by Bitcoin. Because it is not the Bitcoin's main purpose. Many governments won't be so willing to do such thing. Because they don't want to take a big risk by replacing fiat by a volatile cryptocurrency. But I can say that we will definitely be using digital currencies (created by governments) instead of fiat in the future.

[cryptolab70]

It is not too far away that people will use Bitcoin or other currencies as digital currency instead of paper currency.  The circulation of paper money is slowly declining. People are now using digital cards instead of paper money for shopping.  Maybe there will be a time when people will not use this card.  They will directly use the digital currency Bitcoin of the future.

[Paulogo]

Bitcoin acceptability and usability instead of paper money will take the centre stage soonest. I had realizee that, people have started to use bitcoin instead of paper money in certain transactions online. Though the access and acceptance may be minimal at the moment, but the future looks bright for bitcoin.
The generation next may go completely on technology advancing towards cryptocurrency utilization. Anything is possible in our current world.

[sayaya17]

"Bitcoin will be used instead of paper money"
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.

In the next five to six years Bitcoin Its value will increase which no one could have imagined. But if Bitcoin getting used instead of paper money, will not happen soon. Although now many people already mass adoption of bitcoin. such as American companies, PayPal and the richest people in Mexico have already adopted bitcoin.
That’s because of several reasons because the inflation rate on fiat money is higher, thus resulting in increasing people’s concerns about the continuation of fiat currencies.
It is this case that causes people to switch to alternative cryptocurrencies such as bitcoin. I don’t know in the future whether bitcoin can be used instead of as paper money. But nowadays the existence of bitcoin is increasingly positive among the world community.

[bryant.coleman]

I am surprised that some of the users are still considering Bitcoin as a currency. Nowadays, Bitcoin is behaving more like an investment asset and it can't be considered as a currency. In order to qualify as a currency, it needs much greater acceptance, quicker confirmations and lower fee. Until that happens, Bitcoin will be mostly used as a speculative investment asset.

[Reatim]

"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.

it is Happening now,Because there are Big companies that Starting to Bond with Bitcoin like PayPal in which in denial for long time but now here they are.

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.

On what Basis that you are saying this?Value that we cannot Imagined?i am imagining Bitcoin will reached 500,000 is this not enough?

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.

Why need to destroy one of them when we can use them Both?Let Bitcoin user use Bitcoin and let Fiat user use Fiat.

[Digitalbitcoin]

"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.

Bitcoin is definitely brought a revolutionary solution for future economics and finance but at the same time, every crypto enthusiast must have acknowledged that crypto is nothing without having its exchange value against fiat or paper money.

So according to consideration of the system of fiat currency which is already established in every country, cannot be taken down, rather it must have to be sustained for the survival of common people who are still not aware or educate about the crypto world due to lack of knowledge, lack of education, or even lack of technology and instruments.

[markdario112616]

It is not too far away that people will use Bitcoin or other currencies as digital currency instead of paper currency.  The circulation of paper money is slowly declining. People are now using digital cards instead of paper money for shopping.  Maybe there will be a time when people will not use this card.  They will directly use the digital currency Bitcoin of the future.

Nope, This is way too far. Let me clarify first, DIGITAL TRANSACTION and DIGITAL CURRENCY are 2 different things.

The circulation of paper money, is NOT declining but instead it is continuously circulating whether people are using "Credit/debit Cards". To co-relate this to digital transaction, this paper money is still part of the digital cards by of Credit and Debit.

Maybe I can agree on not using of cards, as Technology is upgrading from time to time. This physical cards can or could be upgraded digitally, but, this is far more riskier than using the these cards traditionally. Meaning, the more we virtualized everything, the more we are prone to digital hacking and etc.

Plus, as I always say not all country accepts cryptos. So, let's view it realistically. Yes, we wanted to legalize the use of Cryptos but let's not forget it will undergo a lot of complicated process and studies. Especially, A Government will do what it takes to fully Centralized everything which is not the nature of the cryptos.

[kawetsriyanto]

Actually, to make Bitcoin accepted as the currency is not only about the big companies that accept BTC. the most important thing is about its utility, whether it is acceptable in the small and traditional market or not. As we know, people and countries condition in the world is very different. We cannot make them the same in the term of technology acceptance. As like what happens in my country. It is likely very impossible for all of us to receive BTC only as a payment method. Although BTC can be one of the payment methods, it will never replace paper money. Except if it happens in the next hundred years later.

[Akash1243]

I really dont see bitcoins being use as currency instead of paper money.Bitcoins are viewed as an investment asset and bitcoins are too much volatile and needs a bit higher confirmation fees for faster transactions.And many countries have not yet legalized bitcoins and also governments wont like bitcoins replace fiat I think.

[Ayiranorea]

Even now bitcoin usage is very small compared to the paper money usage in the entire world. Right now it isn't an easy thing to abolish and replace the paper money with bitcoin. Lot many changes were supposed to take place in the global market for the same. Already through the banking system most of the fiat transactions were digitized,  and towards the next step of growth cryptocurrency uplifting is done through the increased usage. Bitcoin used instead of fiat won't happen soon or within few years of time.

[Willitivity]

It does need internet
We need to solve the transaction fee problem

I think this is one of the main reason why bitcoin can never be used as the paper money, without an internet connection there's no way you can send or receive bitcoin, unlike the paper money that won't require an internet connection to be available before any transactions can be done, so yeah there's no way bitcoin can ever be used like the paper money,also the transaction fees are just something else, yes bitcoin is fast but it's only for those who can afford to pay those high tx fees charged by the miners,for those who use low tx fees to transfer they tend to wait for a while before receiving it, sometimes a week, which is really bad.

[CODE200]

Even now bitcoin usage is very small compared to the paper money usage in the entire world. Right now it isn't an easy thing to abolish and replace the paper money with bitcoin. Lot many changes were supposed to take place in the global market for the same. Already through the banking system most of the fiat transactions were digitized,  and towards the next step of growth cryptocurrency uplifting is done through the increased usage. Bitcoin used instead of fiat won't happen soon or within few years of time.

Indeed. The fact that fiat currencies are more supported by governments compared to cryptocurrencies, replacement won come to existence. Bitcoin has advantages when it comes to convenience in every transaction but it still has issues regarding wide acceptance across the globe. Let's say fees are lower if transaction was made using Bitcoin, but your savings is at risk if it would stay in BTC form because its market value changes from time to time. This is probably the reason why it is more often being used in investment purposes more than a currency.

[jrrsparkles]

"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.

Why we are supporting bitcoin only when the prices are in the increasing trend, if you beleive that bitcoin technology is revolutionary then we should encourage it to be used as payment mode irrespective of their current prices. But one thing for a paper currency is its stable value which is missing in bitcoin.

[aysha9853]

Bitcoin in lieu of paper money must have a permit from a certain country, if it doesn't get permission it will still be illegal, I also hope that in the future bitcoin will become a legal currency in the eyes of the government

[Viscore]

Bitcoin in lieu of paper money must have a permit from a certain country, if it doesn't get permission it will still be illegal, I also hope that in the future bitcoin will become a legal currency in the eyes of the government

it's not possible, government will only permit something they can regulate, and they won't allow that some tech will replace their power to create money, they will be the one who will make a paper money or a digital money, all belongs to fiat money.

Their rule is, centralized over decentralized.

[taufik123]

it's not possible, government will only permit something they can regulate, and they won't allow that some tech will replace their power to create money, they will be the one who will make a paper money or a digital money, all belongs to fiat money.

Their rule is, centralized over decentralized.

I agree with your opinion.  The government will never allow bitcoin to replace fiat currency because Bitcoin is a digital currency that is not centralized and is not controlled by anyone.  Another problem is that bitcoin cannot replace fiat currency because of the fluctuating nature of bitcoin and has a very high risk of being used as a reami currency. Even so, bitcoin can be an optional digital payment instrument, you can use it or not.  but it all depends on the regulations given by each head of government.