...

[Shasha80]

It must be admitted that in a pandemic situation like now, Bitcoin is very different from traditional currencies. the reason Bitcoin is
increasingly valuable in a pandemic situation and is not affected by inflation. Meanwhile, nowadays almost all countries in the world
are printing money, this is what causes inflation. And Bitcoin is not affected by inflation, There are also many investors who trust
Bitcoin more than traditional currencies because of this.

[1714140527]

1714140527

[1714140527]

1714140527

[CryptoLogo]

With satisfaction we can see that Bitcoin is gaining confidence as a good alternative to safeguard investors' capitals that will serve to boost the economy. It is a fact that the community celebrates it but it is not the time to replace traditional currencies with Bitcoin. Bitcoin's mission now is to counteract inflation and create macro opportunities in the global economy.

And when will this time come? Inflation in some countries has reached unprecedented heights, hunger, poverty, unemployment.
I am not saying that bitcoin is capable of dealing with all these problems overnight, but at least it can provide people with a normal currency for their own savings. And the sooner the better.

[DrBeer]

It must be admitted that in a pandemic situation like now, Bitcoin is very different from traditional currencies. the reason Bitcoin is
increasingly valuable in a pandemic situation and is not affected by inflation. Meanwhile, nowadays almost all countries in the world
are printing money, this is what causes inflation. And Bitcoin is not affected by inflation, There are also many investors who trust
Bitcoin more than traditional currencies because of this.

Inflation is not a negative process. It becomes negative when it becomes either uncontrollable or galloping. Well, we must understand that inflation is a process associated not only with the "printing of banknotes", it has a lot of other reasons, obvious and not so much. Therefore, it is not very correct to consider Bitcoin as a good characteristic without inflation. A non-inflationary financial system has a lot of restrictions and difficulties generated for the real sectors of the economy.

[error08]

Will bitcoin eventually dominate the world economy and replace traditional currencies?

Bitcoin is an alternative currency, it was not meant to replace fiat currency unless the value of a country's currency drops, then the citizens are free to switch to bitcoin as the primary means of payment but not an option for a country. We have seen the economy of Venezuela collapse which cause the bolivar value depreciate, but the government didn't adopt bitcoin to replace their bolivar, instead created their own crypto called petro coin that launched in February 2018. There some several flaws in bitcoin, but the main quandary is the volatility which may make people hesitate to use it as a major currency on a daily basis.

[jaberwock]

Think of bitcoin as a side alternative to regular systems, because bitcoin is not only a currency at this point, hell crypto world as a whole is not just filled with currencies. From keeping your money away from inflation to investment to payment processing to getting interests to staking to liquidity to yield farming to basically so many different things you could do with crypto that it is a whole bank and then some more on top of that.

This is why I think it is wildly important to realize that we are not going to change anything in crypto world by comparing it to regular currencies or finance world. However it makes sense that we could build an alternative world in crypto, that is a lot better and I find it a lot profitable to live in this alternate but people could still stay in the traditional system and live their life that way forever as well.

[Iyeman]

Will bitcoin eventually dominate the world economy and replace traditional currencies?

I don't think it's ever possible. Now Bitcoin is the 7th largest currency in the world, that's great, but we shouldn't be so optimistic. Bitcoin can't replace fiat because of many reasons.

Otherwise bitcoin can co exist with fiat and bitcoin can also be used as store of value. It's not always to replace the another kind of currency but people can use bitcoin as the best digital gold that can be used to create a payment system too. Bitcoin has so many advantages over another currency or commodity.
I agreed with you about that dude

[iv4n]

Many opinions in this topic, each of us have some vision and prediction about the future!
My vision is simple, it's crypto future! The world is moving forward! Older generations couldn't imagine something like "the internet" can exist, now we can't live without it! You have many similar examples around... but to get back on topic! Some traditional things are OK, but let's be honest many are wrong! So wrong that we still have wars around, people still die from hunger... too many bad things, everywhere around the globe... and who is responsible? Well I would say the ones who control the money! Can you agree with that?
If we follow the simple logic, there're things we can do to make some changes for the better. One of them is to replace people who control the money (in some way elections around the world are a circus for the people, where government shows how they change the people from time to time, bad ones are going and new and better ones are coming, but that never happens actually, it's the same old), we can do that in peaceful way or not... and to try to put some other people there who will try to run the old system...
It where Bitcoin comes on light, Satoshi (whoever he/she/they) and his brilliant idea opened a new door! We can control everything alone, if we are capable of course, if we are smart enough... we don't need a third party to connect us, we have internet and crypto now! And people will start realizing all the benefits of all of us working and living together as a world! Traditional systems can't connect us on that level, and they don't wish that, on that level they are losing control!
_______________________________________________________________________________ _____________________________________________________________

The point is that we should go for the better, crypto is definitely a better option! Slowly but steady people see that and joining, and I see big changes are coming!

[fishbonez11]

Today we saw bitcoin hit an all time high of $23k while its traditional counterparts are suffering a decline in value. Historically, when someone desires financial stability, they naturally go for safe investment is, such as gold, stocks, real estate. But with the outbreak of the corona virus pandemic we have experienced a shift in global economy, countries are facing inflation. As a result many individuals are beginning to see Bitcoin as a safer investment than its counterparts. Countries are slowly adopting crypto as a means of payment. Will bitcoin eventually dominate the world economy and replace traditional currencies?

Bitcoin is more than just an investment. It is the future of money system. When people realize that Bitcoin will break the traditional way of banking system, they will appreciate what bitcoin can offer. Bitcoin is at it's early stage, big companies have just started adaptating the use of bitcoin. The next few years will be big for bitcoin as more and more institution and companies are taking interest on tge use of it. 

[bryant.coleman]

Bitcoin is more than just an investment. It is the future of money system. When people realize that Bitcoin will break the traditional way of banking system, they will appreciate what bitcoin can offer. Bitcoin is at it's early stage, big companies have just started adaptating the use of bitcoin. The next few years will be big for bitcoin as more and more institution and companies are taking interest on tge use of it. 

Bitcoin is the future. I am sure about that. But I am not sure about whether it is the future of the monetary system, or whether it is the future of investment. Satoshi Nakamoto initially designed Bitcoin as a mode of payment. But nowadays it is mostly being used as an investment asset. Unless we resolve the scalability issue, Bitcoin will never gain traction as a payment mode.

[Fortify]

I think there is plenty of room for Bitcoin alongside all the current currencies of the world and it doesn't necessarily have to be a competition. In fact, Bitcoin seems to fall into a quasi-currency type category - some people view it as a growth asset with limited availability like gold and others view it as purely a unit of trading like a traditional currency. It seems to me that Bitcoin has a role, but does not have anywhere near the capacity to become a day to day currency for even a single country.

[acener]

No Bitcoin couldn't take over or replace the traditional currency do you think that the government would allow such thing to happen?
Bitcoin would just remain the same it could never replace traditional currency and I think that the government is already in crypto,
They created their own centralized crypto just like USDT.

[Princejebs]

Most traditional currencies are going nowhere whereas bitcoins more than doubled this year. For me it's an easy choice. I will take bitcoins over fiat currencies any day of the week. Why would you still go into a doomed system? The long term trend is only upwards for bitcoins whereas most traditional currencies don't have a good outlook.

Are you going because it's the easier choice or because it's better than the traditional system. It's not as if the system has completely fail or not working. They are so limited to some aspects which need lots of changes in order to suit our need especially the commoners and not keep enriching the richer already.
We need a decentralized and a better world different from the old century system, a system that can not be controlled or own by group of people. That's what has been cryptocurrency movement so far.

[goldade]

Today we saw bitcoin hit an all time high of $23k while its traditional counterparts are suffering a decline in value. Historically, when someone desires financial stability, they naturally go for safe investment is, such as gold, stocks, real estate. But with the outbreak of the corona virus pandemic we have experienced a shift in global economy, countries are facing inflation. As a result many individuals are beginning to see Bitcoin as a safer investment than its counterparts. Countries are slowly adopting crypto as a means of payment. Will bitcoin eventually dominate the world economy and replace traditional currencies?

While bitcoin might dominate the world's economy, it cannot replace traditional currencies. Not now, not even 20 years to this time.
You should know that before bitcoin can completely eradicate fiat or traditional currency, it has to be used by every individual in the world. There are limitations to a development such as that.
First of all, bitcoin gives the power over money back to the masses and out of the control on banks and even the government. You should know that the government won't just give in easily to bitcoin. At worst, they'll tag it illegal and at best, they'll create a government-backed cryptocurrency so that they still have control.
Secondly, bitcoin is a digital currency and as such cannot be used in areas where there is no access to education, electricity and the internet. You should know that areas like this still exist especially in developing countries in Africa.

[wxa7115]

Most traditional currencies are going nowhere whereas bitcoins more than doubled this year. For me it's an easy choice. I will take bitcoins over fiat currencies any day of the week. Why would you still go into a doomed system? The long term trend is only upwards for bitcoins whereas most traditional currencies don't have a good outlook.

I disagree with this, most traditional currencies are going somewhere and that is down, each day more money is being created thinking this is going to stimulate the economy, governments believe that if they keep diluting the wealth of people and stealing it by using inflation somehow the rich people are going to decide to invest and create new businesses once again, but why bother when most of that money is going to the stock market?

They are just investing in stocks and no new jobs are being created so the rich can get away from inflation by investing in big markets and get huge returns while the middle class cannot afford it, this is why bitcoin is key since it gives people the ability to protect their wealth regardless of what the government does.

[magneto]

Today we saw bitcoin hit an all time high of $23k while its traditional counterparts are suffering a decline in value. Historically, when someone desires financial stability, they naturally go for safe investment is, such as gold, stocks, real estate. But with the outbreak of the corona virus pandemic we have experienced a shift in global economy, countries are facing inflation. As a result many individuals are beginning to see Bitcoin as a safer investment than its counterparts. Countries are slowly adopting crypto as a means of payment. Will bitcoin eventually dominate the world economy and replace traditional currencies?

I don't think that is actually up to BTC itself to make any proactive moves.

However, BTC will be on standby as the next best alternative if the fiat system experiences a catastrophic failure. The catalyst for mass adoption, therefore, would likely simply be some sort of hyperinflationary event in a major economy that shatters confidence in 'paper' currency.

I would still say though that the chances of this happening in the near future is pretty slim, even as a long term bitcoin bull. As I said, it would take a black swan event. For now, BTC will simply serve as an alternative payment gateway and store of value alongside fiat.

[el kaka22]

Bitcoin has the advantage that no central organization controls it which means it will never be destroyed to make rich people richer. In fiat world rich people could destroy the markets and could get bailed out and go back to how things were while regular people loses everything. For example in 2008 when people failed to pay their mortgages, banks almost bankrupted, what happened? Government gave money to those banks and paid off the debt, but houses were still seized.

If the mortgages that were failed to pay had huge debts that bankrupts banks but those debts were paid by the government, why did the houses were seized for lack of payment anyway? It should have been given to people for free because banks got the payment from government instead of home owners, but they got the money anyway. So in traditional currency rich people are always saved whereas regular people are always screwed, there is nothing like that in bitcoin.

[Gozie51]

No Bitcoin couldn't take over or replace the traditional currency do you think that the government would allow such thing to happen?
Bitcoin would just remain the same it could never replace traditional currency and I think that the government is already in crypto,
They created their own centralized crypto just like USDT.

Sure the government will fight and kick against it. Traditional currencies are the pride and presence of the people and government. The traditional currency play a big role in the being of the people in the country and that is manipulation but bitcoin can not be used to manipulate just a people of the country because it is decentralized. The government can't bring regulation of its use which can be a reason that it is not easy to manipulate.

[Ucy]

One of the main reasons Bitcoin is safer is its Ideals/features, which seem to be opposite of the ideals of "traditional currencies".
I think they can exist together though, especially if the traditional currencies are still useful and can be improved in the future.

[rollingdice]

Now Bitcoin is the 7th largest currency in the world, maybe it's slowly moving towards  replacing the U.S. dollar as the world’s reserve currency, but I don't think that Bitcoin will be the mostly used payment method in the world.

[plvbob0070]

Bitcoin will surely gain more attention now that it's doing good in the market and that more companies are adopting it. But I always doubt that bitcoin will dominate and replace traditional currency because the first thing we should look at is the government. They won't let a decentralized currency to dominate their country and replace their own currency. Rather than replacing traditional currency, bitcoin is an alternative and they will co-exist together.