Bitcoin will never replace fiat cash.

[Pizzalover420]

Bitcoin will never replace fiat cash.  A coin everyone mints at the same rate will.  It will also replace bitcoin and all of the shitcoins.

Mark my words.

Bitcoin runs off the fumes of fiat.

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[bitmover]

Bitcoin never meant to replace fiat.
It is an alternative, a store of value and a an electronic cash system.

Those centralized altcoins that someone controls the mint rate are not competing with bitcoin.

Bitcoin exists because it is decentralized. Because no one owns it. No one controls it.
And it cannot be shut down. It will probably never die. Nobody can kill it.

[Wysi]

Bitcoin is not competing to replace fiat and moreover this topic has been discussed here over hundred times, neither bitcoin nor any other crypto coin can ever replace fiat as crypto has its own base which runs parallel to fiat and regardless of adaptability rate of bitcoin there will be set of users who will never switch from fiat to any other payment method.

[Pizzalover420]

Bitcoin never meant to replace fiat.
It is an alternative, a store of value and a an electronic cash system.

What store of value is it storing? It`s not like gold where the value that is stored is actual metal.

[Pizzalover420]

Bitcoin is not competing to replace fiat and moreover this topic has been discussed here over hundred times, neither bitcoin nor any other crypto coin can ever replace fiat as crypto has its own base which runs parallel to fiat and regardless of adaptability rate of bitcoin there will be set of users who will never switch from fiat to any other payment method.

A crypto everyone mines at the same rate will replace fiat.  People will opt into a fairly generated supply.  Merchants won`t accept fiat in the future, my 600 acre farm already does not.

[passwordnow]

Bitcoin will never replace fiat cash. 

It's good as an alternative to cash. We still need cash and that's a reality.

A coin everyone mints at the same rate will.  It will also replace bitcoin and all of the shitcoins.

Mark my words.

Can you give more a description of that coin? I think I've heard that even before and still nothing happened. But there's CBDC, is this the coin that you're saying that would soon replace fiat? we're going digital so cash would be gone out for sure when every transaction is happening in the cloud.

[Pizzalover420]

Can you give more a description of that coin? I think I've heard that even before and still nothing happened. But there's CBDC, is this the coin that you're saying that would soon replace fiat? we're going digital so cash would be gone out for sure when every transaction is happening in the cloud.

Can you give more a description of that coin?
Sure it`s like bitcoin but everyone has the same hashrate or we all are distributed supply at the same rate, using block height or elapsed duration, everyone could be given the same amount of coins every block or every hour.

Never heard of CBDC.

[Iron Fist]

What store of value is it storing? It`s not like gold where the value that is stored is actual metal.

You're talking about intrinsic value. This is not the only kind of value that exists. Understanding the various types of values that people assign to things may help you see things from a more comprehensive perspective. Things can have a sense of value for a variety of reasons. For example, sentimental value, re-sale value, popularity value, historical significance, cultural importance...

[oktana]

Bitcoin can never replace fiat. I find it impossible for people to start using Bitcoin instead their normal fiat currency. However, Bitcoin still has it's uses. So, both bitcoin and fiat needs to stay.

[hridoyb]

Bitcoin will never replace fiat cash.  A coin everyone mints at the same rate will.  It will also replace bitcoin and all of the shitcoins.

Mark my words.

Bitcoin runs off the fumes of fiat.

Bitcoin is a crypto-coin and its is a eclectronice cash coin also. Most of the people use it different type payments or trading.So bitcoin is not  flat cash and it never will be flat cash because its price changeable and violent.

[pixie85]

A coin everyone mints at the same rate will.  It will also replace bitcoin and all of the shitcoins.

So you're a socialist and think everyone should get the same. How are you going to distribute a coin equally among all the people?

People tried these things before like when they created Auroracoin in Iceland and it did not work well. Its price dropoped from something like 50 USD to 0.3 USD in a few weeks.

[dothebeats]

It won't, and that is what most people who've been into bitcoin knows, and have reiterated on this forum over and over again.

Bitcoin is designed in such a way that it challenges the 'flaws' in the current banking system, and implements it differently which then makes people think about it and realize that it's possible to do this in order to preserve value. Bitcoin is made to help people be their own bank, safekeeping their assets and relieving the control of third-parties in their money, providing full control of what's theirs and theirs alone. Fiat currencies would never cease to exist, that's for sure, but bitcoin always is there to be an alternative if fiat is out of the option in some cases.

[Kez1817]

Bitcoin will never replace fiat cash.  A coin everyone mints at the same rate will.  It will also replace bitcoin and all of the shitcoins.

Mark my words.

Bitcoin runs off the fumes of fiat.

Bitcoin is just an alternative for fiat currency everytime you need it. Also, I think there's no need to replace fiat with bitcoin because they are both significant and valuable. Both are useful, so for me much better if this two different currency will exist to help us and our economy financially.

[Shasha80]

Bitcoin and other cryptocurrencies do appeal to people who exhausted of excessive government control and very high banking costs.
And also because of its decentralized nature. Fiat currency is relatively stable and has a hedging image that makes the public in general
object to replacing paper money. Fiat money is more trusted in the community because it allowed and issued by the government.
Although fiat is in recession during this pandemic.

[bL4nkcode]

A coin everyone mints at the same rate will.  It will also replace bitcoin and all of the shitcoins.

Mark my words.

Bitcoin runs off the fumes of fiat.

An altcoin can replace bitcoin, that's possible. Only if it will be accepted by most in this community and other industry accepting payments, its okay, no big deal.

Now if you're talking about some existing altcoin that will replace bitcoin, no there's no chance even ethereum or any in the top 10 in cmc. I'm talking here about the hashrate, every alt besides bitcoin, which cannot beat bitcoin in terms of hashrates as for the moment and transactions except eth since it has lots of shit coin integrating on its blockchain.

[figmentofmyass]

Bitcoin never meant to replace fiat.
It is an alternative, a store of value and a an electronic cash system.

What store of value is it storing? It`s not like gold where the value that is stored is actual metal.

metal that is, for the most part, useless. there is far more gold stored in bars/coins, sitting in vaults and safes, than could ever be conceivably used for industrial or medical purposes. i don't think non-monetary utility is where gold really derives its value from. it's more about predictable scarcity and organic network effect---basically the idea that it's universally accepted and can't be easily devalued/diluted.

among other things (portability, divisibility, the ability to pay electronically) bitcoin may prove to be superior to gold in the long run because of its predetermined supply.

programmable money---what an idea!

[Wexnident]

It never was imo. If Bitcoin was supposed to replace fiat, then it has its work cut out for itself imo. After all, being able to manage the economy makes it simple(but not really, but a lot easier) to respond to problems, which is why the government is taking the lead on it.

What store of value is it storing? It`s not like gold where the value that is stored is actual metal.

From what I know something can become a store of value as long as it can maintain its value, rather than depreciate. Now I know Bitcoin isn't exactly something that has its price tag that fits the "maintaining value" part, but as for it depreciating? I think history can prove itself with that. Not only that though, afaik, but Bitcoin also fits most factors that a store of value asks for like scarcity.

[Kemarit]

Bitcoin will never replace fiat cash.  A coin everyone mints at the same rate will.  It will also replace bitcoin and all of the shitcoins.

Mark my words.

Bitcoin runs off the fumes of fiat.

Who says that bitcoin's intention is to replace fiat? It was design as a payment scheme by Satoshi, its just in the last 10 years bitcoin has evolved and there are proponents that it could be future's single world currency. But I doubt that, fiat has still its place in the financial industry no matter how you look at it. Currently, we can co-exist with the fiat system, so no one is replacing some one here, nor making it obsolete in the next 50 years or so.

[coinsolidation.org]

Hi,

Bitcoin will always have its links in the financial area, I do not think that the idea of ​​replacing any asset of tangible or non-tangible current value is a good comparison.

Bitcoin came to cover a technological need of today and the future and must be seen and used for its implicit characteristics (immediate transactions, low costs, anonymity, decentralized economics, security, among others).

Regards,

[Warkop]

Since Bitcoin was first created, it does not aim to replace fiat, Bitcoin is a digital currency or crypto asset that can only be used when connected to the internet, and Bitcoin works on a network that uses complex algorithms. This differs from fiat, because fiat is created only for real transactions in paper form. It looks like you have never read the history of the purpose of Bitcoin being created, do your research before creating threads like this.