Bitcoin will never replace fiat cash.

[bitmover]

this idea reminds me of marx's labor theory of value---that value is defined by the cost of production. in this case, that would basically mean that miners could point endless electricity at bitcoin and then bitcoin would magically rise in value to reflect the rise in hash rate.

The problem with your theory/comparison is that labor is endless and unlimited.  Energy isn't.

Miners cant point "endless" energy" simple because energy is a LIMITED resource,  and a very expensive one.

There is no mining without energy. And miners cannot point endless energy to it because it is physically impossible. Nothing to do with Marx crazy theories

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[very_452001]

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.

CBDC's Central Bank Digital Currencies will replace cash meaning cashless societies. There will be no paper fiat cash soon.

CBDC's are like centralised altcoins that will have the official central bank/government mark of approval for them. They will just be centralised official stable coins.

[proTECH77]

Bitcoin will remain in decentralized currency anywhere in the world which it cannot be use to replace fiat cash. Bitcoin is a decentralized currency which is not run by the government or any country of the world, it can decide to pump anytime, any day without the government attention .
Here are some reason why bitcoin will never replace fiat cash:
1) Decentralized:  The creator of bitcoin which is Satoshi Nakamoto created bitcoin to be decentralized in all countries that made it to be legalized not to be control by the government.
2) knowledge: Many country never still allow bitcoin to be legalized in their country because they are use to fiat money in the country, which they don't have any idea concerning bitcoin transaction and how it works in the area of Investment.

[bitterguy28]

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.

Where in the world that the word Replacing Fiat comes from?

Bitcoin will never tend to replace the currencies instead this will help,only People like you are the one whos pushing this stupid idea when we cannot find that in Satoshi's plans.

Bitcoin will serve the world but not because of the losing of fiat instead both will work together and fill what is the missing on the other.

[Sithara007]

Of course, Bitcoin cannot replace the world's cash. Because Bitcoin's value is not stable, the government cannot control and grasp the price of Bitcoin so it cannot replace cash.

I have a slightly different explanation. Bitcoin can't replace fiat currency, because it is not suitable to be used as a currency. It is more like an investment asset, which can be used for making payments. But the payment part is secondary. In some aspects, Bitcoin is similar to gold or platinum. They are mostly used for investment, but can be used as currency when the need arises.

[jaresmerel001]

Bitcoin will never replace fiat cash. Fiat will always exist, and to replace it, Bitcoin was not created. The alternatives to fiat is bitcoin.

Do people prefer holding fiat that is printed by central banks every day from thin air?

Or does a currency with a limited supply prefer them?
Time is going to tell.

[witcher_sense]

Bitcoin is intangible money while physical cash, as the name implies, is a representative of physical world, tangible money. They may well coexist and will do that until we finally switch to the society in which cash is no more. Cashless society is a turning point. In such a society we are going to have two conceptually distinct types of money: CBDC (soft money) and Bitcoin (hard money). Will bitcoin be better than government tokens? It is already. Will it replace them completely? Hopefully, yes.

[AakZaki]

~snip~
 Will bitcoin be better than government tokens? It is already. Will it replace them completely? Hopefully, yes.

Why do you call it better? at this time I think the legality is still different in some countries, the transactions are still limited which makes him imperfect. In contrast to fiat money, which has been recognized throughout the world, although there are still shortcomings of fiat. It is possible to replace fiat money but it will still take a long time and a long process because no one can control the decentralized bitcoin system.

[Dsdaq]

Bitcoin can not replace fiat because you need the fiat to invest in bitcoin. You need to deposit fiat to an exchange to buy bitcoin so also if you want to withdraw the bitcoin you need to exchange it to fiat to withdraw to your local bank. So I see that bitcoin can't replace fiat just work side by side.

[Renampun]

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.

we've been through a lot of topics like this...
Bitcoin cannot replace fiat currency because fiat comes entirely from a country. currently, there are thousands of fiat currencies from all countries of the world. replace fiat means to replace a national currency. Bitcoin will continue to move alongside fiat.

[kawetsriyanto]

Does Satoshi create Bitcoin to replace fiat cash? NO, mate. Satoshi doesn't plan Bitcoin to replace the existence of Fiat. Satoshi created Bitcoin as the alternative for an electronic payment system with no need for third parties. In this way, we don't need to spend big fees for transactions on banks. So, it is clear that Bitcoin isn't created to replace fiat cash. You don't need to worry!! 

[bayu7adi]

we've been through a lot of topics like this...
Bitcoin cannot replace fiat currency because fiat comes entirely from a country. currently, there are thousands of fiat currencies from all countries of the world. replace fiat means to replace a national currency. Bitcoin will continue to move alongside fiat.

it is not possible to replace FIAT, especially USD. To become the currency that has been agreed upon, then Bitcoin must be able to beat those who turn their backs on this giant currency. Moreover, if the government adopts a currency with a high level of transparency such as Bitcoin or altcoin, they will have problems in doing business. Money printing will be more sensitive because the data will be recorded on the blockchain and published.

let's stop being idealistic, and start being realistic about Bitcoin, FIAT and the rulers.

[rodskee]

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.

even in the near future i see no reason why would fiat needs to be replaced mate because Bitcoin can't even reached being adopted so what more replacing fiat in which the trading material for long years now.
maybe there is a wrong understanding about the creation of Bitcoin and people tend to think that after beating the fiat success is what we got but for me this is a mistake.
Bitcoin will reach the top if being accepted and use wordwilde without interfering by government or any law enforcements.
this is what we called success and top.

[AjithBtc]

What is the need for Bitcoin to replace fiat. It has been making change to the financial system followed around the globe. As technology advances, there is change with the people's expectation and the need varies. The traditional system wasn't able to fulfill it, and the bitcoin does it. This is how the bitcoin usage is increasing, upon that we should not expect replacing of fiat. Someone around the globe will stick to the traditional system, because they find it convenient.

[hulla]

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.

I agreed on Bitcoin not to replace fiat currency because thats the purpose of it creation but that doesnt assumes  it potential not to exceeded fiat or any other coins we have now or that will be mint in the same rate and the last time I checked there's no way such coin will exist.
Mind you, a lot of influential people and the institutions predicted Bitcoin to be double but now they are among Bitcoin investors and this shows Bitcoin is not just an ordinary coin.

[Sithara007]

What is the need for Bitcoin to replace fiat. It has been making change to the financial system followed around the globe. As technology advances, there is change with the people's expectation and the need varies. The traditional system wasn't able to fulfill it, and the bitcoin does it. This is how the bitcoin usage is increasing, upon that we should not expect replacing of fiat. Someone around the globe will stick to the traditional system, because they find it convenient.

I agree. If you check the white paper created by Satoshi Nakamoto, nowhere it is given that Bitcoin is designated to replace fiat currency. Satoshi created Bitcoin, as an alternative to the current banking system, which is very exploitative towards the common people. I don't think that we should oppose fiat currency without the exploitative banking system. 

[witcher_sense]

Why do you call it better? at this time I think the legality is still different in some countries, the transactions are still limited which makes him imperfect. In contrast to fiat money, which has been recognized throughout the world, although there are still shortcomings of fiat. It is possible to replace fiat money but it will still take a long time and a long process because no one can control the decentralized bitcoin system.

You must have confused bitcoin with something else, because, as far I know, bitcoin is the only decentralized network in which transactions cannot be limited or stopped no matter how hard authorities have tried and are still trying. It makes it a perfect solution for those who are excluded from the global financial system since, with bitcoin, they no longer need to ask someone for permission to participate. Do you think they are waiting for regulations or even need them?

[Sophiya]

As mentioned earlier, cryptocurrency is an alternative, of course, more convenient and safer than fiat money.  I think I wouldn't mind if bitcoin replaced paper money.  But I am sure that this will not happen in the next 100 years.  Many people still do not know about the blockchain and are afraid of it, many people in our world still do not have phones and computers, some do not even have electricity.  The introduction of cryptocurrencies in all spheres of life in different parts of the world will require a lot of time and large investments.

[mindrust]

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.

I don't think it is trying to replace FIAT. Bitcoin evolved into something different than both gold and FIAT. If it is a bad or good thing that depends on how you look at it.

[LogitechMouse]

Yes we know that it will never be. Bitcoin will never replace fiat cash and I'm 100% sure about that.
But that isn't the main reason why Bitcoin has created at first place. Its main purpose is to transact to other people without using a 3rd party service like banks. It isn't created so that it can replace fiat cash so why you need to say this thing when we know already that it isn't created for that purpose.

It is an alternative mode of payment and has no intentions to replace fiat cash at all and I don't see it happening too in the future.