Will Bitcoin/ETH replace fiat someday?

[anotherdayyyy]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

[1714866857]

1714866857

[Jawhead999]

Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...

It's a high chance if Bitcoin would be used by everyone in their daily life, but abandon fiat and replaced by Bitcoin the chance is very little. Even though fiat always lose it's value due to inflation, all people is only know a real and first currency in their mind is fiat. Probably in the future when world is full of technology system and all should be in digital, digital fiat will be used as they have full control about it.

Bitcoin price will always volatile and no one can control it.

ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.

You're talking nonsense
ETH also volatile and high price, doesn't it's same like you said BTC nearly impossible for daily use?

The first cryptocurrency can be use for daily payment is Bitcoin, if not stablecoin and the rest will follow it.

[Oshosondy]

I do not just have to go through your write up because the title has well explained what the content will be, bitcoin is not a replacement for fiat, it is just an alternative, if there are alternatives, there will be more convenience for people. Like now people can easily make cross border payment with just less than $1 bitcoin fee but the people are able to know how the bitcoin fee works and make use of low fee, but no how someone will not spend ten times or more while using fiat. Fiat are centralized but bitcoin is decentralized, bitcoin gives freedom unlike fiat. People will still be using the two but bitcoin is a good alternative especially used by people that want privacy and also want there money to increase in value rather than decreasing in value.

[Obito]

Hard to say because it will take a lot of adjustments for people to switch from a physical money to an electronic one. I don't think that bitcoin and Ethereum alone will not be able to do the replacement, also government is taking steps creating their own electronic currency so it's really hard to say that they will be able to replace fiat someday.

[Expecto]

I give zero chance to this because of their volatile nature. But digital (and stable) coins will replace fiat money in the future that's for sure. Governments are already developing their own digital currencies. They also care about that these currencies don't harm fiat for now. But things will completely change in time like I said.

[Nunoluck]

Many countries use USD as reserve currency, I think it is because US is the strongest country at this century so the value will be more stable. I am not sure that comparing Bitcoin and USD performance during war is right. I think it will be more appropriate to compare USD and Gold. Government is not fool, if government use btc as alternative reserve currency, then maybe there will be cryptocurrency expert, traders and etc who manage the money. So if government need money then they can provide it. Anyway if government save btc for anticipation if there is a war that happen then the country is will more stronger every years. Btc price always tend to rise so I think what is needed is only capital management. I am not sure that government will be replace fiat in the future, but I think btc will still become more popular although fiat is exist too.

[eaLiTy]

Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...

We might see merchants adopting BTCitcoin but we wont be seeing a situation where fiat will be replaced by a decentralized currency and it is not meant to replace anything, rather it is an alternative mode of payment and if used properly it can be used as a global currency for international trade.

Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.

ETH is not even a currency in my opinion, so end of debate  . ETH is used to store data and run decentralized applications.

[Lucius]

You should have better defined the term “someday” because it is completely vague in the sense that it can happen in 1 year or in 50 years. Maybe one day in the distant future the world will change globally and have one global currency, and maybe it won't even have it - if we refer to the science fiction of Star Trek where the concept of money no longer exists at all.

In its current state, Bitcoin is technically still complicated for most people, and sometimes almost unusable for microtransactions - and even if that changes for the better, does anyone think that world governments would give up their financial sovereignty in favor of any cryptocurrency? After all, most countries in the world work on their own digital currencies (CBDC), and that is the best answer to the question of what they think of the digital cryptocurrencies that exist today.

[Charles-Tim]

Hard to say because it will take a lot of adjustments for people to switch from a physical money to an electronic one

It is not hard to say, even the most use cases of fiat of paper money (physical fiat), fiat are more in digital now, we should be able to differentiate between digital currencies and cryptocurrencies because fiat also exist in digital as digital currencies. Also, if there is successful adoption of CBDCs, this will create way for people to make use of cryptocurrencies which are CBDCs also. Some people have already switched to stable cryptocurrencies also.

I don't think that bitcoin and Ethereum alone will not be able to do the replacement

You are right, in this regard, it is good to specify on cryptocurrencies generally.

government is taking steps creating their own electronic currency so it's really hard to say that they will be able to replace fiat someday.

CBDCs are cryptocurrencies, not fiat.

[Wind_FURY]

OP, completely replace? No. Be a complementary payment system? Yes. In fact, there are many many people who use Bitcoin as a medium of exchange today. Plus if the the current monetary system has a cabal to decide to print billions/trillions on a whim, then there will always be the need for some form of “sound/hard money”. Bitcoin.

[aysg76]

It maybe used as reserve assest by the government like gold but if we are talking about use of Bitcoin or eth as regular payment method like fiat it has certain uncertainties like high fees and volatility which could be adjusted with time but still this is an issue.Moreover fiat is not at all easy to replace which means replacing the centeral banking system globally which is not possible at the moment.It is deflationary in nature and government will not be able to match fiscal deficits by printing more money as it's easy to do so.The transaction takes time to complete if fees is set low and you can't wait for payment settlement for buying products at grocery store every time.Although btc has potential and will be seeing adoption soon but fiat will also be in use simultaneously.Until we fully equipped ourselves to technology and digitalization.

[BlackHatCoiner]

Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned?

[Global Adoption Warning! Please read me.]

If Bitcoin was a substitute of fiat, we could expand this discussion, but it ain't. Fiat's use is being forced by the government while Bitcoin's not and there are reasons why they do it. A modern capitalistic state cannot operate without a fully controlled reserve currency. In other words, there has to be a currency controlled by the government for the preservation of a healthy economy.

Bitcoin can't be compared with fiat, because:

• It isn't controlled by anyone.
• It has a deflationary nature. You prefer to keep it rather than spend it.
• It's not fungible. At least, not like cash.
• It is highly volatile.

[CryptocurencyKing]

Bitcoin or Ethereum and fiats aren't in a competition for dominance or complete elimination. I see it more like, a transition to a perfect collaboration of physical fiat and software or coded currency that operate on a different sphere. Its not a coexistence that can just work without some challenges especially with the fact that, fiats are nation bound while cryptos are not, fiat can be accurately taxed where as cryptos can't. Governance is centralized and while crypto is decentralized and as such, a coexistence is the best that can come put of this transiand joy elimination. Government benefits a lot from centralized system and a such, why would they ever throw it away for decentralisation. It won't work.

So, there isn't any bitcoin or crypto to fiat war going on out there but a transition for coexistence and in time, it would be archived.

[hongchao123]

Both of them just dont have enough TPS in their current conditions. And countries will not be ready to use currency that they cant control

[ILuckyGuyI]

I think that we will never see this happening. But they will be preferred at a really high rate in the future also. Digital currencies that will be developed by governments will take fiat's place.

[speedy963]

Again with this type of topic. Look, just give it a bit of effort and search for this type of topic and you will realize just how mamy times this type of topic has been talked about already. There you will see countless ideas about this that have great reasoning behind them. Although what you would mostly find are regarding bitcoin but common sense will help you to understand it more if you comoare their opinions about bitcoin to ethereum. Hint: if it is hard for bitcoin, it'll be 100x harder for ethereum let alone any other altcoins (just in case you were also wondering about this).

[verita1]

No such thing will happen. Because we have been living a silent war like the Covid19 pandemic and we have not replaced the FIAT. Even the US dollar is the most widely used currency in our economy.

But I do believe that there will be more technological developments that will make bitcoin and ether lower the high fees and the speed of transactions. The users of the world will have the options of bitcoin and cryptocurrencies as means of payments and also governments will issue their own digital currencies to offer a better service from banks.

[NeuroticFish]

Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned?

Imho although Bitcoin will probably get to be used on the daily basis, it won't be able to replace fiat. Not just like that.

In order to get rid of current way of fiat there may be necessary for a new way of governments and completely different politics/politicians (or maybe no politicians at all).
And that may not happen, or if it will, it'll happen after many many years.

So it's easier to say that Bitcoin will not render fiat useless, at least not during our lifetime.

[fiulpro]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

I can't even count how many times we have had the same discussion on the same topic. Well here are my point so as why Bitcoins and other cryptocurrencies can't replace fiat.

1. 940 million people do not have any access to electricity forget about cryptocurrencies.

2. Only 4.66 billion People are actively using internet all over the world.

3. Proper education is needed and a little bit of experience which can't be implemented that easily.

4. People have governmental restrictions etc which holds them from using cryptocurrencies like Bitcoins and eth.

---
They would not be able to replace fiat it's more easy to use without internet and can be there exchanged anywhere around the world, it's a means of communication.

Cryptocurrencies can work synergistically but it cannot completely replace fiat.

[AGD]

Incredible how subtile you try to shill an altcoin of your preference into a Bitcoin forum. I got you.

[Rexler]

With the look of things I don't see cryptocurrencies replacing fiat, not at all! I think there both needs each other in this current state, cryptocurrency is been seen as an asset for investment and also an alternative currency which means it could be used in absence of fiat, we all know most government doesn't like cryptocurrencies, there actually sees it as a threat and there is actually so many limitations to which makes it very difficult for crypto to replace fiat currency. So it's just better we use crypto to enrich ourselves, make transactions with it and just stop thinking about replacement

[acener]

No I don't think we would ever see that day happen.
Bitcoin or crypto is seen by most of us as a tool for investment not a payment option or currency.
They don't want to spend it knowing that it would give them profit in the future so as long as it is how they see it then we wouldn't see it be used as a currency or payment option.

[Shasha80]

With the look of things I don't see cryptocurrencies replacing fiat, not at all! I think there both needs each other in this current state, cryptocurrency is been seen as an asset for investment and also an alternative currency which means it could be used in absence of fiat, we all know most government doesn't like cryptocurrencies, there actually sees it as a threat and there is actually so many limitations to which makes it very difficult for crypto to replace fiat currency. So it's just better we use crypto to enrich ourselves, make transactions with it and just stop thinking about replacement

With the government's attitude towards cryptocurrencies, it seems unlikely that Bitcoin will replace fiat one day. I feel the government will do
all kinds of restrictions on the use of Bitcoin, so as not to threaten the existence of fiat. Therefore the government in my country, only allows
Bitcoin as a digital asset, cannot be used for payments. So at any time it seems that the government will not allow Bitcoin to replace fiat.

[Wind_FURY]

Incredible how subtile you try to shill an altcoin of your preference into a Bitcoin forum. I got you.

I give him some benefit of the doubt because it’s Ethereum, which I believe deserves “some, or a little respect”, like if it was Decred, Monero, or maybe Litecoin. Other shitcoins would be laughable, especially the fork of the fork called Craigcoin.

[GideonGono]

Would the government let it happen?
We all know that it is impossible for decentralized crypto like Bitcoin to totally replace Fiat.
If crypto would replace Fiat I think the only one right now would be USDT.

[ancafe]

some people have tried to make bitcoin or ethereum a rival to fiat, but it went against the government and eventually spawned several policies regarding cryptocurrencies in several countries. however, in my country, bitcoin/ethereum is prohibited from being used as a transaction tool because it can make Fiat's use threatened. it's just that, my country gives freedom to invest in it with a note that the risk is borne by each individual.

[hitsnorth]

Well, i'm not sure. For that purpose BTC have to reduce it's volatility and fees. And i don't know if it's fully possible, expecially volatility. Same goes for ETH.

[trauchot]

I do not think that cryptocurrencies will ever replace fiat money, since the prices of cryptocurrencies are constantly changing and because of this, cryptocurrencies will not be able to replace fiat money, but I think that in the future more and more countries will legalize cryptocurrencies as cryptocurrency technologies and opportunities become more and more popular every day and all countries understand this, of course, many people want cryptocurrencies to replace fiat, but so far this is impossible.

[Yatsan]

This has already been a long talk since then that if there will come a time that Bitcoin or Ethereum will be replacing fiat or will cryptocurrency make the phase out of the traditional currency system because of the existence of the modern one in the identity of cryptocurrencies. Both currencies, crypto and fiat are both good in their own ways and both can co-exist in the system depending on the need of the people or the user himself. There is no need to debate or argue battling those two bodies against one another because you see someone is better than the other and the the other is inferior. Why bother of such things when they can just stay as it is being available as always depending on certain situations on which is best to be used.

[xiboothrezi]

This has already been a long talk since then that if there will come a time that Bitcoin or Ethereum will be replacing fiat or will cryptocurrency make the phase out of the traditional currency system because of the existence of the modern one in the identity of cryptocurrencies. Both currencies, crypto and fiat are both good in their own ways and both can co-exist in the system depending on the need of the people or the user himself. There is no need to debate or argue battling those two bodies against one another because you see someone is better than the other and the the other is inferior. Why bother of such things when they can just stay as it is being available as always depending on certain situations on which is best to be used.

well, cryptocurrencies complement what fiat can't do well. such as cross-country transactions without complicated administration with relatively fast time without limits. but cryptocurrencies also have weaknesses, related to legality and their use is still limited. So, it's true what you said, there is no need to argue which one is better or there will be a substitute for each other because both complement each other. Use both to the best of your ability as needed.

[Tervelatuk]

I don't think it's possible because bitcoin and ethereum are only alternative tools to make long-distance transactions with large amounts of value and use very cheap transaction fees, so fiat cannot be replaced by these two coins.

till whenever we will not able replace fiat with any digital currency. ethereum or bitcoin only as an alternative payment gateway but totall could not do this. fiat have their own speciallity, very number created it have value which is back up with gold or what ever is that. meanwhile its not happen to crypto. its only about technology , no currency.but for payment ,yes ethereum and bitcoin can do this.

[ene1980]

This has already been a long talk since then that if there will come a time that Bitcoin or Ethereum will be replacing fiat or will cryptocurrency make the phase out of the traditional currency system because of the existence of the modern one in the identity of cryptocurrencies.

The answer to that is no as Bitcoin and ETH are not created to replace fiat currency but as an alternative method that can be used. I am also not a proponent that will say that we should use Bitcoin for daily expenses but rather we need to use them for International transaction or long range transactions.

There is no debate about the hurdles when you using the fiat system to send the coins abroad and using Bitcoin is always the best solution and if you are an International trader there is no better alternative than Bitcoin.

 

[KennyR]

In a positive note there is chance of Bitcoin/ETH to replace the traditional fiat based on the way cryptocurrency function compared to the traditional fiat system.

When we take this to the real life usage, the possible chances were low. The major reason being the governments and next is the transaction costs.

Is there any chance of zero fee transaction, if that is possible then we can say Bitcoin/ETH will replace fiat for sure. Until then cryptocurrency usage will be much on trading and other investment needs.

[yazher]

If we are talking about this thing without a particular date then it could be possible since back then our currency was not paper money, they only using gold, silver, and copper coin back then. right now everything is new we have coins that are made from metals and currency made from papers. it's not that impossible before we experience all cashless base transactions in the whole world but I doubt that we will live up to that day.

[lienfaye]

Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned?

Even the high fees problem were eliminated, bitcoin (or any alts) cant totally dominate or replace fiat.
We are evolving to new technology and people can easily adopt it but its not going to work smoothly.
Can you transact bitcoin without internet? Can you use bitcoin without any gadget?
It can work as an alternative to fiat but it cant replace it atleast for now.

[MoneyJ]

Any crypto will never replace fiat as long as there is a government. Centralized finance being controlled by powerful men in position can leverage against crypto via legislation and taxation where it will be disadvantage to own crypto. But crypto will be excellent store of value. But not a medium of exchange and legal tender.

[asyakashi]

That wouldn't have happened if in my view, because we would at any time need fiat exchanges and bitcoin exchanges, bitcoin might be in charge of the internet. But when in the real world money is superior. Both have their own uniqueness. It proves the two will not be replaced but will develop for the better.

[aprilnot]

will not be able to. FIAT will not be replaced by bitcoin or ethereum, because the government will not stand still watching all that. the most likely is that governments adopt blockchain to create stablecoins. in the future bitcoin and ethereum will only be investment tools like current GOLD. so bitcoin or ethereum replacing FIAT would just be a dream that never came true.

[lexkiee28]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

If the whole world adopts bitcoin and ethereum as a currency there is a huge possibility that sooner these two well-known cryptocurrencies will replace the fiats.

[Bitcoinjheta]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

If the whole world adopts bitcoin and ethereum as a currency there is a huge possibility that sooner these two well-known cryptocurrencies will replace the fiats.

Its really hard to believe and impossible to make it the government will allow digital currency as the universal payment method replacing the traditional fiat in which case bitcoin is a decentralized digital currency designed without the need of intermediaries and peer to peer transaction.

[unusualfacts30]

simply no.

BTC have changed how financial system functions. btc/eth is an investment for everyone who is putting their money or mining power in it. I would compare it to other investment assets. You can buy with bitcoin and that's a plus. Mostly everyone use it to as an investment.

We will have digital currency.

[HyunBin]

I dont think that bitcoin/ethereum and other cryptocurrencies can replace fiat knowing that fiat is the mode of financial system of every country and for the cryptocurrencies to replace it, it will go a very long road of legalization and regulatory amendments first.

[maxreish]

Fiat vs cryptocurrency is different. If we look for a convenient way of payments without going so much and without any third party, cryptocurrency transactions are better. But then again, fiat would still be the best one that suits for most of the people.

And the possibility of cryptocurrency to replace fiat is still an issue until today as cryptocurrency has many criticisms and others are not in favor of it's volatile characteristics.

[semobo]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

Probably yes, Bitcoin or any crypto(s) can replace the current fiat base money system because change is the only thing that never changes so never expect someone to rule this world forever.

[Review Master]

Bitcoin is decentralized, no government wants to use a currency they can't control. Bitcoin is becoming more , more popular, but bitcoin is being seen as a financial instrument for storage and profit rather than a means of payment. Fiat has been used worldwide for hundreds of years, backed by governments. It's hard to imagine what will replace fiat in the future.

It's true that government won't use any crypto or any kind of assets which they can't control. But it's not true that bitcoin isn't used for a means of payment as many users or companies are continuously using lighting network so that they can use bitcoin as a meaning of payment. So it's just about time when government will understand the advantage of bitcoin as well as ethereum, IMHO. 

[KaliLinux]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

I don't know if a total adoption of Bitcoin and Ethereum as a means of payment globally and leading to the abandonment of Fiat currency will happen, but I do believe that if such a day should come, the manipulation of cryptocurrency or specifically Bitcoin and Ethereum will no longer be an issue because it will no longer be a free space like it is today where anyone that thinks because they have the might they can manipulate the market, that time it will be a more regulated space.

[calandra78]

simple it definitely wouldn't be possible. rather I think that fiat will probably start to get into blockchain and crypto. the use of fiat will probably become the same as a stable asset in the global crypto market. but fiat in crypto networks in the future can and is legal to be used as a means of payment in a country.

[19Nov16]

It is difficult to replace fiat even though crypto users continue to increase, the most difficult thing for crypto is that it depends on the network so security issues are always an unsolvable issue.

[mr.robot8]

the current world financial system is at the collapse under control the central bank that produces euros continuously and the others banks, sooner or later will surely be replaced by cryptocurrencies and if they are considered too variable, volatile, it could start with debit cards with wallets in stable coin, it would be a promising start

[Republikcoin.com]

Bitcoin is decentralized, no government wants to use a currency they can't control. Bitcoin is becoming more , more popular, but bitcoin is being seen as a financial instrument for storage and profit rather than a means of payment. Fiat has been used worldwide for hundreds of years, backed by governments. It's hard to imagine what will replace fiat in the future.

Yes, it takes a commensurate opponent to be able to defeat an entity as big as governments around the world. The existence of bitcoin in this world is not as big as we all think, there are still many people who have not heard and also do not understand what Bitcoin is. The government will remain capitalist which will influence the policies they take. Bitcoin will not be able to become an international currency substitute for USD or a substitute for currency in a country.
Besides not benefiting the government, it also harms its people.

[Viscore]

simple it definitely wouldn't be possible. rather I think that fiat will probably start to get into blockchain and crypto. the use of fiat will probably become the same as a stable asset in the global crypto market. but fiat in crypto networks in the future can and is legal to be used as a means of payment in a country.

Bitcoin and ethereum have always big chances to be a medium of exchange in the coming years but it won't definitely replace fiat in all aspects. They can be used as great options for payment but they won't take place the position of fiat.

I think crypto world is still early as it is since the adoption for bitcoin and hopefully ethereum too as good currencies is still not realized. Yes they can be in the future but the exact date is still uncertain.

[pedrillo0]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

The Salvador recently told the whole world that Bitcoin will be a legal tender.
I am interested to know what will happen with the local currency (USD).
From here we could say what is going to happen between fiat and cryptocurrencies. You just have to let time go by and see what happens...

[TheUltraElite]

The Salvador recently told the whole world that Bitcoin will be a legal tender.
I am interested to know what will happen with the local currency (USD).

While this seems like a good to hear news, is the reality so? Or did they do it for getting sympathy of the bitcoin users in their country? In any case, it is a change and change is good as long as political motivations are kept minimum.

fiat is a very strong currency and has a lot of supply with a very low exchange rate so I don't think bitcoin and ethereum will be able to replace fiat's position because it will be very difficult to do that, bitcoin and ethereum and other cryptocurrencies are just alternatives coin that makes it easy to make transactions over long distances.

They are complementary methods of payment, complementing fiat transactions where the fees of the same or the time consumption is high. Both co-exist because both have pros and cons, which is what comes out to be the basic conclusion of any such thread.

One cannot replace the other - very simple to understand the logic behind that. Over time we may see a growth in acceptance of crypto but they wont replace fiat.

[Farma]

well, i don't think bitcoin/ethereum will really replace fiat, even when bitcoin or ethereum has a very high price. maybe at this time, the use of crypto on the internet is increasing, but basically, Fiat always takes precedence in each country. even some countries have banned crypto or bitcoin so that their fiat has no competition.

[Kelvinid]

well, i don't think bitcoin/ethereum will really replace fiat, even when bitcoin or ethereum has a very high price. maybe at this time, the use of crypto on the internet is increasing, but basically, Fiat always takes precedence in each country. even some countries have banned crypto or bitcoin so that their fiat has no competition.

And yet, we don't have a valid reason why we have to replace fiat in the first place.
As long as we found no wrong about using fiat money, as long as it was still accepted to the community, establishments, and banks, it gonna be impossible.

I use both of them and it was fined. I have the option of which currency I use for a certain transaction. We can't live our life everything online, so we still in use fiat as that was the currency will be accepted offline, not Bitcoin.

[Shallow]

In as much as I like Bitcoin and believe in the potentials/opportunities it is opening up in the world, but I will be blunt to say that Bitcoin or even ETH will not replace fiat. The government of each country values their fiat, because it gives them the power they need to run their businesses and so on, they can print money as they want, back it up with an excuse and do whatsoever they want, sometimes transparency might not be there hence giving more power to them, but same is not the case with Bitcoin, as Bitcoin offers transparency of transactions.
Nevertheless, owing to the potential of Bitcoin and how hard it is to be ignored, countries will either legalize it or put up a framework that will make it work together with their fiat or in other words embrace it; this to an extent is what most countries are doing today.
Additionally, Bitcoin will only but keep growing and more countries will have reasons to pay attention to it.

[Argoo]

Cryptocurrency will never replace the national currency of states as a means of payment. It's not even worth dreaming about. On the one hand, no government will allow this, since planning and economic calculations are possible in hard currency, which does not have the high price volatility inherent in cryptocurrency. On the other hand, cryptocurrency is not designed to replace fiat. It can only circulate in society along with national money as an alternative means of payment to the currently existing payment system of states.

[FanEagle]

I don't know if a total adoption of Bitcoin and Ethereum as a means of payment globally and leading to the abandonment of Fiat currency will happen, but I do believe that if such a day should come, the manipulation of cryptocurrency or specifically Bitcoin and Ethereum will no longer be an issue because it will no longer be a free space like it is today where anyone that thinks because they have the might they can manipulate the market, that time it will be a more regulated space.

Obviously it wouldn't be smart to get rid of fiat all together, and that is why I do not see it happening anytime soon. However I do understand that if bitcoin reaches to a huge volume, like let's say the marketcap is about 20-30 trillion dollars and the daily volume is about 400-500 billion dollars in that case the price would definitely not move like it moves today.

It would still move, gold moves and oil moves and the value of dollar moves, prices of stocks moves basically everything moves but they never move like bitcoin moves right now, and if we can have that much action going on in bitcoin that means we are going to see a small but understandable move in bitcoin instead of what is going on right now. This is why I believe there is going to be a great future where bitcoin will be used, not instead of fiat, but alongside of fiat in the future.

[kesmex]

The Bitcoin and Ethereum are not infinite so it might be impossible to replace fiat. Also the price of these coins were really volatile and the transaction fee is really high that may affect the users. Lastly this kind of things were only available only and cannot be used in offline transaction just like the fiat, so it will not replace fiat but it can be an alternative to fiat.

To replace the fiat I don't think it's a good choice other than that it doesn't seem like it will happen,
with its fluctuating nature of course it makes it even more impossible to replace fiat,
let's just see how it develops because after all anything can happen for the future

[serjent05]

Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.

With the current tx fee system of ETH, I don't think that it is ready to replace fiat and even with its full development, Bitcoin/ETH will never replace fiat due to the government rejecting them to be used as a country's currency. 

They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

Buying Bitcoin is a wise move because, during those times, Bitcoin prices will certainly crash due to people taking out funds in preparation for the possible economic crises brought by war.  About USD being a wise choice, that would be if the USA wins the war but if other nation wins it, then it is highly possible that USD will crash.

[molsewid]

well, i don't think bitcoin/ethereum will really replace fiat, even when bitcoin or ethereum has a very high price. maybe at this time, the use of crypto on the internet is increasing, but basically, Fiat always takes precedence in each country. even some countries have banned crypto or bitcoin so that their fiat has no competition.

I believe that bitcoin and eth will be a part of currency that will going to circulate on worlds economy but i doubt if it would going to replace fiat someday. Maybe if cryptocurrency adoption will be widely used i mean lets say 80% of worlds population were going to use cryptocurrency especially bitcoin or ethereum which it so happen that bitcoin and ethereum are more valuable than fiat but still there are 20% population left that still prefer to use fiat not just because they don't like but because this are the people who maybe don't have a gadget or those people who can't afford to get stable internet connection or so.

[adzino]

Bitcoin or ETH, they are never going to replace fiat currency. Do you really think the government would like a decentralized currency take over the countries monetary system? Nope. Never. They won't give the power to the people. It would just make them weaker. Its either going to be strictly regulated crypto currencies being used along with fiat currency or the government themselves making some sort of centralized crypto currencies. So the fiat currency may someday be replaced by a centralized crypto currency, but highly unlikely to be replaced by bitcoin or ethereum.

[Julien_Olynpic]

Bitcoin can never replace fiat currencies for a very simple reason. Bitcoin has too much volatility. And the volatility is great because it is unregulated. Regulation is contrary to its very nature. Bitcoin really looks more like gold. Good for preserving value, but not good for budgeting.

Nobody wants his bitcoin to cost 50,000 in the morning and 30,000 in the evening. Would you like your salary to be halved in a day?

[CaptainCrapper]

Very difficult question about two boss coin.my personal opinion cryptocurrency marekt we can't imagine without bitcoin and Eth anything.cause to coins network is related with all of alternative coins.

[Alanaz]

I don't know if this will happen or not, even if this happens, it certainly won't be immediately and run well because a transition like this needs adjustments and I don't think an adjustment like this is an easy thing and takes time.
and I think this is very unlikely to happen

[Kasabus]

I don't know if this will happen or not, even if this happens, it certainly won't be immediately and run well because a transition like this needs adjustments and I don't think an adjustment like this is an easy thing and takes time.
and I think this is very unlikely to happen

I see that bitcoin and ethereum are having good developments each year but i still cannot foresee that they will soon to replace fiat from its position. Although no one can rightly predict here but it will take more years for positive developments for bitcoin and ethereum to become good currencies in the future. They might be adopted as currencies but they can never let the people stop from using fiat because they are very used to it.

[ene1980]

With the current tx fee system of ETH, I don't think that it is ready to replace fiat and even with its full development, Bitcoin/ETH will never replace fiat due to the government rejecting them to be used as a country's currency. 

If you are worried about ETH fees then they are migrating to POS and there are some major upgrades that could sort the fee issues, as an individual you can replace fiat if there are stores that accepts Bitcoin but if someone is waiting for the government to declare all these, then good luck with that as none of the countries will be open like El Salvador and make Bitcoin a legal tender.

[CaVO32]

With the current tx fee system of ETH, I don't think that it is ready to replace fiat and even with its full development, Bitcoin/ETH will never replace fiat due to the government rejecting them to be used as a country's currency.  

If you are worried about ETH fees then they are migrating to POS and there are some major upgrades that could sort the fee issues, as an individual you can replace fiat if there are stores that accepts Bitcoin but if someone is waiting for the government to declare all these, then good luck with that as none of the countries will be open like El Salvador and make Bitcoin a legal tender.

Just be happy that bitcoin is growing in terms of adoption, but replacing fiat. I don't think so. Do you think banks and other government institutions will migrate to using bitcoin?We may be going digital these days, but replacing it with the currency with decentralized nature? That's not happening. They may accept bitcoin as an alternative payment option but they will not eradicate the use of fiat because of bitcoin or crypto.

[nurilham]

Just be happy that bitcoin is growing in terms of adoption, but replacing fiat. I don't think so. Do you think banks and other government institutions will migrate to using bitcoin? Not going to happen.

Agree with you. BTC or ETH seems hard to replace Fiats. We already use Fiats for many years and it already became a part of our life. Government and banks support Fiats, so it is almost impossible if any crypto coins to replace Fiats. BTC, ETH, or other crypto coins may be just alternative payment tools. They cannot be a single currency in the world since we all still need physical currencies.

[albon]

I don't think that Bitcoin or Ethereum or any of the cryptocurrencies can replace fiat because fiat money is backed by the government and banks, and it is tangible money and has no fees, Cryptocurrency may one day be a way to pay with fiat money due to its great potential.

[Dewi Aries]

I think we just accept if bitcoin already good for investment. At least with this way alone, people can start adopting crypto and then create a lot of demands about it. No need to be as payment, at least bitcoin has it's functionality to people. And although still not be used as payment yet, we can see bitcoin price already increased a lot from past.

[Vaskiy]

Replacement of fiat won't happen in short or in the long term, because people have been using it as an alternate source of payment and for transaction needs. In terms of adoption there is increase, but the same hasn't gained the potential to stand and overcome the fiat usage around the globe. Slowly more and more number of service sectors have started accepting bitcoin and other cryptocurrencies. Now more governments have been legalizing usage of cryptocurrencies.

[Xampeuu]

indeed there is a possibility that bitcoin/ethereum will replace fiat currency. but we don't know when it will happen, logically with the development of the digitalization era, it is possible for it to happen. but seeing the decentralized system used, I think it will take a lot of time for the government to accept it

[Ozero]

indeed there is a possibility that bitcoin/ethereum will replace fiat currency. but we don't know when it will happen, logically with the development of the digitalization era, it is possible for it to happen. but seeing the decentralized system used, I think it will take a lot of time for the government to accept it

A decentralized cryptocurrency has no way of ever replacing the national money of states. Cryptocurrency can only complement fiat as an alternative payment system. Nobody will replace anyone. Each financial asset, if it is in demand, will occupy its own niche in the global financial system. For various reasons, a certain part of people will not use cryptocurrency, and therefore all payment systems will work simultaneously. Choice is always the best solution.

[Sayeds56]

indeed there is a possibility that bitcoin/ethereum will replace fiat currency. but we don't know when it will happen, logically with the development of the digitalization era, it is possible for it to happen. but seeing the decentralized system used, I think it will take a lot of time for the government to accept it

Absolutely right. It will replace the current financial system though governments won't allow itb to happen so easily becuase they want to maintain current Centralized system which serves their interest. Bitcoin and Ethereum can potentially replace Fiat system and can be used to cross border transactions as well as to buy goods and services.

[accounting 181293]

can not. as long as this world still has a sovereign government, they don't allow that. Fiat will always be around it's just that in the future it may become digital. in the future there may be E-USD, or D-UERO and so on. each country will have its own digital currency. for bitcoin and ethereum may only be used as an alternative means of payment only. because the main function of crypto will turn into Store of value like GOLD. Although the original goal of crypto was created as a decentralized currency, people still believe that crypto is better for Store of value.

[dificanovi]

After I researched it seems that bitcoin and altcoins will not be able to replace real currencies. Cryptocurrencies can only be used as counterparts to real currencies. We can use cryptocurrencies and real money both as a means of payment but cryptocurrencies cannot be used in all countries and only a few trading places accept cryptocurrencies as a means of payment.
In general, people prefer real money as a means of payment because real currency prices are more stable than cryptocurrencies.

[guydin]

To my mind it is quite possible for crypto currencies to replace fiat money. I hope that we will move to an alternative reality step by step. Some people can say that I am crazy, but this digital world is much more appealing for me. So I do believe that one day we will use clear blockchain for financial operation. Actually, Salvador is already practising it, so let’s see what the result will be.

[Evgenklm]

This is a subjective point of view, the majority of the other opinion, and soon the crypt will become not only a form of payment, but also an exchange, and will also take its place in the field of NFT art.

[unusualfacts30]

not exactly. Presently, BTC/Altcoins are investment opportunity just like stock market or any other investment. With digital revolution that we are in it is 100% by all means that it is here to stay, as far as fiat is concerned everyone still use it so there might be digital counterpart that will replace fiat. It could be btc, eth, ada or even one of those memecoins.

To keep up to date with generational trend money has to be reformed as well. Everyone loves meme so any digital currency that looks like a meme coin will be revolutionary and attractive by all extent while at the same time creating a new relationship between the people and money.

[TastyChillySauce00]

I doubt that and I think its CBDC or stablecoin released by the government that can replace fiat. Most of people see cryptocurrency as investment and rarely I see people using it as a money. Even crypto debit card is hot because its convenient and in reality it converts your asset to fiat first and then proceed the payment. But i think its suitable as an investment like most of people doing right now. So my conclusion is no, it will not.

[distr@yopmail.com]

most I believe still think that bitcoin or any other crypto asset is very good as an investment asset. and its popularity with everyone as an investment asset.
to replace fiat in the future, I'm not so sure that can happen. although what is popularized is a digital currency.
I actually think that in the future its use lies in the blockchain network. digital fiat with faster and more transparent transactions. What is your opinion?

[ven7net]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

Unfortunately, right now we can observe manipulations in the crypto market. The price of BTC and other cryptocurrencies has dropped dramatically. All this at the moment negatively affects the adoption of crypto in the world, especially in order for BTC or ETH to replace fiat money. I think it's too early to talk about replacing fiat money with cryptocurrencies. But perhaps in the future, cryptocurrencies will occupy a certain part in the financial system.

[conected]

indeed there is a possibility that bitcoin/ethereum will replace fiat currency. but we don't know when it will happen, logically with the development of the digitalization era, it is possible for it to happen. but seeing the decentralized system used, I think it will take a lot of time for the government to accept it

Absolutely right. It will replace the current financial system though governments won't allow itb to happen so easily becuase they want to maintain current Centralized system which serves their interest. Bitcoin and Ethereum can potentially replace Fiat system and can be used to cross border transactions as well as to buy goods and services.

- We should also not think that the government is so selfish, maybe they are securing their rights in the centralized system but through that, they also provide a lot of practical services and we don't have much doubt that their products will be liquidated or depreciated over time while bitcoin and ethereum are quite sensitive on the subject of value. Transactions that cross-border also have practical solutions with international payment cards, bitcoin and ethereum are probably still too late for many services.

[OZmaster]

indeed there is a possibility that bitcoin/ethereum will replace fiat currency. but we don't know when it will happen, logically with the development of the digitalization era, it is possible for it to happen. but seeing the decentralized system used, I think it will take a lot of time for the government to accept it

A decentralized cryptocurrency has no way of ever replacing the national money of states. Cryptocurrency can only complement fiat as an alternative payment system. Nobody will replace anyone. Each financial asset, if it is in demand, will occupy its own niche in the global financial system. For various reasons, a certain part of people will not use cryptocurrency, and therefore all payment systems will work simultaneously. Choice is always the best solution.

How many things have we seen in life that we thought might probably be impossible? While I get your point, I wouldn't say a decentralized currency has no way to ever replace fiat money. I don't think it will happen anytime soon, but I wouldn't say that in 20 or 30 years from now the world couldn't be dominated by a decentralized currency that is accepted as legal tender in the majority of the countries around the world. That is definitely possible, why not?

[MoneyJ]

This is not possible in the near future where centralized governments still control their sovereign money or medium of exchange. Plus blockchain transactions are slow and very volatile in nature. It is though a better store of value in my opinion.

[mhine07]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

There is a possibility that bitcoin and other cryptocurrencies will replace the fiat in the near future, because nowadays some countries/government practices the cashless payment through some cryptocurrencies and if succeeds with that ideas, the future fiat will no longer be used.

[asriloni]

Nothing is impossible . And also many online offline shops are accepting bitcoin instead of fiat . After next few years later
we may see more like this.   This is a great way although . But it  will take  time

Lol are you sure? The online and offline stores were accepting the payment form that used by the customer and it doesn't matter what kind of payment that already accepted by the stores but in my opinion your statement was not relevant with the main purpose of bitcoin.
Fiat and bitcoin must be co exist, I should remind you that if there will be no fiat and how you can get a stable asset?
We know that if the stable coin has been getting tremendous demand from the users especially crypto traders.

[Xinarae*]

To replace Fiat into Bitcoin of course requires enormous power related to existing regulations and of course with the current community it is possible for Bitcoin to dominate the world to be used as a substitute for Fiat, so it is still a commodity as a means to invest.

Bitcoin cannot be replaced by fiat bitcoin is not in use in many parts of the world but everyone is able to do everything with fiat. Not just to buy products all the work in the world is done through fiat the demand for bitcoin in crypto is huge.

[Samurai trieng]

If every country prohibits cryptocurrency from developing in their country, then I think it is very unlikely that cryptocurrency will replace fiat in the future, and even if that happens it will take a very long time to impart knowledge to its citizens, because I believe there are still many people who are not familiar with crypto  and to its use,

[OZmaster]

If every country prohibits cryptocurrency from developing in their country, then I think it is very unlikely that cryptocurrency will replace fiat in the future, and even if that happens it will take a very long time to impart knowledge to its citizens, because I believe there are still many people who are not familiar with crypto  and to its use,

And how likely do you think it is that every country will prohibit the development or usage of cryptocurrencies? That likelihood is close to zero, if existent at all. There will always be countries that will see an opportunity in offering what other countries banned. That's the case with many things and with cryptocurrencies the incentive is so huge that I don't expect many countries to ban it at all.

[susuberuang]

Nothing is impossible . And also many online offline shops are accepting bitcoin instead of fiat . After next few years later
we may see more like this.   This is a great way although . But it  will take  time

Yes, if it can happen slowly with Bitcoin, then of course it will be very good for the life of other cryptocurrencies too, because if Bitcoin continues to be used in every store in the future, the effect on the price will certainly be there, which will be more expensive and will followed by several other cryptocurrencies as well.

[Vaculin]

Maybe we have to forget that such instances because for me, it was too far from happening. FIAT money has existed for many years, the majority of the people around make use of it with their life. While Bitcoin is just new, we don't even know if this will be able to survive 100 years from now, and were not also sure if this will be legalized in all corners of the world as a currency?

That is why I answer this question in MAYBE Yes or No.

[leatutz]

None of this top coins were made to replace USD. We must need to know that use cases are different USDT, Bitcoin or Ethereum. We don't need always privacy or taste of blockchain. But I think CMC deserve 10 trillions of USD which value could be more than gold. Fiat currency can't be volatile as CMC of others altcoins.

[ik5656]

Crypto is the great power adotion in global economic Changing  platform.BTC or ETH Now Days popular digital assets for blockchain safe or security base money.In Futher Crypto Legal All Country In The World.

[dezoel]

I have to say fiat is there to stay, we are not going to see them replaced. However do not be upset that crypto not replacing fiat, because that is not what it was created for, it was created to give us an out from the fiat world and that matters a lot more.

In the fiat world the wealthy are doing whatever they can to make sure they get richer and richer every day, faster than the inflation rate, whereas the poor gets so much poorer that we are not making as much money as our parents did (technically, even if the number is higher, the purchasing power is lower) while our parents weren't exactly wealthy people, so that means there is very few middle income people left, all those middle income money went to wealthy people to make them richer while keep everyone else at poor level. Crypto gives us an out of that world and that is what we should be using it for. Not to specifically get rich (which is possible too) but to not lose money like that.

[_IRMAN]

Bitcoin will never die, but it is difficult for BTC to replace fiat positions due to fee issues. But I believe fiat will be replaced by stable coins, with low fees and decentralized nature.

[sapnu]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

It has always been a debate if bitcoin can even replace fiat but in my opinion, it's too far from happening considering many factors. With regards to Ethereum surpassing Bitcoin, you should know how impossible that can happen. Just take a look at the price gap of the two, even though ETH has always been next to bitcoin, the price gap is so far. Fiat currencies is already part of the tradition in all parts of the world, regardless of having technology innovating over the years, a digital currency would take up a lot of adjustments before it can be seen feasible.

[OZmaster]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

It has always been a debate if bitcoin can even replace fiat but in my opinion, it's too far from happening considering many factors. With regards to Ethereum surpassing Bitcoin, you should know how impossible that can happen. Just take a look at the price gap of the two, even though ETH has always been next to bitcoin, the price gap is so far. Fiat currencies is already part of the tradition in all parts of the world, regardless of having technology innovating over the years, a digital currency would take up a lot of adjustments before it can be seen feasible.

The price gap plays absolutely no role. What was the price gap of DOGE to BNB when DOGE got so close to BNB? What counts is the market cap and that gap does actually matter. I must say if there is one coin out there that I think could realistically get close to Bitcoin right now, it is Ethereum if they get to solve their scalability problems in the near future. Although I don't really believe that that will happen, if I had to choose one coin that could do it I would answer Ethereum.

[Ozero]

indeed there is a possibility that bitcoin/ethereum will replace fiat currency. but we don't know when it will happen, logically with the development of the digitalization era, it is possible for it to happen. but seeing the decentralized system used, I think it will take a lot of time for the government to accept it

A decentralized cryptocurrency has no way of ever replacing the national money of states. Cryptocurrency can only complement fiat as an alternative payment system. Nobody will replace anyone. Each financial asset, if it is in demand, will occupy its own niche in the global financial system. For various reasons, a certain part of people will not use cryptocurrency, and therefore all payment systems will work simultaneously. Choice is always the best solution.

How many things have we seen in life that we thought might probably be impossible? While I get your point, I wouldn't say a decentralized currency has no way to ever replace fiat money. I don't think it will happen anytime soon, but I wouldn't say that in 20 or 30 years from now the world couldn't be dominated by a decentralized currency that is accepted as legal tender in the majority of the countries around the world. That is definitely possible, why not?

Decentralized cryptocurrency cannot replace paper money for many reasons.

  First, the cryptocurrency is simply not capable of this, even primarily because of its high price volatility.

 Second, states and their governments will never allow this. They are more likely to completely ban its circulation and establish criminal liability for its use, than to be passive observers of such a process, even if it were possible.

  Third, governments will soon issue their national central bank stablecoins. They will, to a certain extent, displace cash, not cryptocurrency.

Fourth, a certain part of society will not want to use cryptocurrency for various reasons. Now we can see this in the example of El Salvador, where protests began against the use of bitcoin as national money.

[Republikcoin.com]

I dont think that bitcoin or ETH can replace fiat currency in the future, they can't serve as the main currency because of its volatility. Even though I like cryptocurrency and it helps me a lot I still can't see that it can replace fiat currency in the future. Cryptocurrency is only good for investment or as an assets.

Apart from investing, I prefer cryptocurrencies to remain an alternative payment method that only a small number of people prefer. I don't agree if Bitcoin or Ethereum is used instead of USD, it's so ridiculous it doesn't even make sense to use digital currency fully in people's daily lives, I mean crypto digital currency.

Let FIAT be a tool to regulate the country by the government, while people who want to use crypto so that they are not too regulated by the government, it becomes a non-binding choice.
This is better than manipulation and drama that will benefit the government.

[herurist]

threads like this if I'm not mistaken already exist and many think there and even if you create and add eth in it the results will still be the same because it is impossible for btc to replace fiat because bitcoin will still be bitcoin and this will only remain an alternative it will not be able to replace fiat because you must already know that crypto is volatile so why do you still think that volatile things can replace fiat.
let bitcoin be what it is now because I think it would be good if bitcoin remains an alternative because this can make it easier for us to transact.

ETH is likely to be an anchor and a tool for daily use alike

and I think this is an even more impossible thing to do, for btc alone it is very difficult especially ETH I think it will be impossible and ETH is also the same as bitcoin is volatile and moreover altcoins still follow btc in price movements, so I don't understand why I still think that eth can replace fiat

[sukmo]

If you look at the development of bitcoin from year to year it is experiencing quite good development. But when you ask if bitcoin can replace fiat money for daily transaction payments.
I guess that's not possible for now because some countries also haven't allowed bitcoin as a payment currency.
But everything can change at any time due to the development of increasingly sophisticated technology that makes everyone have to follow it.

[magnum cyber]

If you look at the development of bitcoin from year to year it is experiencing quite good development. But when you ask if bitcoin can replace fiat money for daily transaction payments.
I guess that's not possible for now because some countries also haven't allowed bitcoin as a payment currency.
But everything can change at any time due to the development of increasingly sophisticated technology that makes everyone have to follow it.

yes, it may be true if the presence of cryptoqurrency or Bitcoin is fully welcomed by every government around the world then bitcoin can replace fiat one day. and as i know that satoshi created bitcoin with the same purpose, which is dedicated as a transaction tool like dollar currency for the future era.

[tabas]

threads like this if I'm not mistaken already exist and many think there and even if you create and add eth in it the results will still be the same because it is impossible for btc to replace fiat because bitcoin will still be bitcoin and this will only remain an alternative it will not be able to replace fiat because you must already know that crypto is volatile so why do you still think that volatile things can replace fiat.
let bitcoin be what it is now because I think it would be good if bitcoin remains an alternative because this can make it easier for us to transact.

Well, that's actually the use of cryptocurrencies. They're an alternative payment and even how much we want to see it replacing fiat, they'll just continue to be used at the same time by the people.
We have the example that even it's adopted as legal tender, fiat is still there on El Salvador but not everyone can adopt it.

[rosemariefrancis]

Someday but not in the coming days. There are a lot of factors that play a role in it like the conversions, acceptance, and adaptability. Altogether it has a lot of benefits, but is complicated because of the lack of universal acceptance at the moment .

[aemma]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

What I think is Bitcoin or any other cryptocurrency will not replace fiat, and that's it. We know the idea behind Bitcoin, which is decentralization and peer-to-peer system of transactions, and we know that in the world out there, no government or country will be glad to give up their centralized power thus won't embrace decentralization, at the same time, peer-to-peer system of transactions removes the middleman, this can't also happen since the government controls the bank.
If you check carefully, you will realise that regulators are already coming in gradually, so what I think is, in as much as the crypto cannot be fully control owing to its nature, fiat and crypto will co-exist, such that one will or can implement the other. Bitcoin has come to stay, definitely the world will only but look for a way to embrace and work with it.

[Almasani]

Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...

There are so many smart people in this world to create crypto, but until now no one has been able to manipulate Bitcoin.

Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat

The amount of Bitcoin is indeed limited and the price is high. But we can buy in small quantities, so the high price does not affect our transactions. It's just that the exchange needs to change the amount of the transaction fee.

They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

There is no guarantee that USD will be the best because Fiat also impacts inflation. And one of the right assets to keep is gold, otherwise Bitcoin and Ethereum, as well as several other cryptos.

[lalabotax]

Don't we have been discussing this question here several times?
If you ask "someday", there will be various possibilities. Because we don't know what will happen in the future, several tens or hundred years later, maybe

Fiat has been replaced by Crypto. Or it is precisely possible Crypto has been replaced by other technologies.

So if I project today and for the next few years. And this is certainly not able to replace Fiat. Fiat is always related to the government of a country or kingdom. So certainly they will not let Fiat be replaced by the others, especially they cannot fully control Crypto.

[5thFear]

It already has replaced a big share of fiat in alot of fields. I mean digitally there is more transaction of crypto then fiat. It is listed on stock markets and other financial institutions. What else you call replacement.

[rozak]

It already has replaced a big share of fiat in alot of fields. I mean digitally there is more transaction of crypto then fiat. It is listed on stock markets and other financial institutions. What else you call replacement.

I'm not sure it actually happened. what is done in all trading markets is digital fiat today.
the use of crypto is still very small. I'm sure it will take a while for this replacement.
it can all happen when trust in fiat is declining. it's like using crypto to dominate over fiat.

[Sithara007]

"Some day" can be any point in the future. What about 2050, or 2100? It may happen eventually, because the current system of fiat economy is not viable. The combined debt of all the nations is more than their combined GDP. In order to win elections, the governments are indulging in more and more spending measures, where they distribute freebies and handouts to selected groups of the voters. But the GDP is not growing at the same rate, as the debt is growing. And in the end, the system will collapse on its own weight and the fiat currencies will become worthless.

[Xinarae*]

no one can predict what will happen to the crypto world in the future, and the possibility of bitcoin or other altcoins to replace Fiat is certainly not impossible and can happen, but it certainly still takes a long time for crypto to be accepted in the wider community, With the advancement and convenience of crypto's advantages, I believe one day crypto will be the future

The demand for cryptocurrencies will increase in the future as crypto becomes more profitable than fiat but bitcoin cannot replace eth fiat. Bitcoin is not used in many countries and they have no knowledge about crypto so they are addicted to fiat as long as the world exists fiat will be in circulation but even if crypto ceases to exist fiat will .

[CryptoWarriorsssss]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

I think so ， the crypto is the future for us

[lumierre]

Nowadays it seems impossible for crypto to replace fiat money. They are too volatile. Imagine that you want to buy something, but it is a bull run now, so you wait and don’t buy, and then the price of the product rises and you have to pay more. And it is bad for the economy when people wait for prices to be more beneficial before buying. Moreover our banks and the government don’t completely understand how crypto works, so how will they calculate taxes?

[sirminesalot]

Nowadays it seems impossible for crypto to replace fiat money. They are too volatile. Imagine that you want to buy something, but it is a bull run now, so you wait and don’t buy, and then the price of the product rises and you have to pay more. And it is bad for the economy when people wait for prices to be more beneficial before buying. Moreover our banks and the government don’t completely understand how crypto works, so how will they calculate taxes?

But it's possible if the cryptocurrency is stable coins like USDT. It's cryptocurrency but the value is stable. I think people could doing any transaction with it, more speed, more open, and the future will need this kind of transaction because i think in the future market is free for all around the world, people shopping just from the internet and there are no longer many offline shops. Tether is one of the candidate who could replace fiat, or maybe there will be a better one exist in the future

[suryogandul]

no this is impossible if crypto can replace fiat. crypto can only resemble fiat but for fully fiat transactions it is still the main and can be said to be one of the most important

[john_nautica]

I don't think so. We all know that the economy will not work without Fiat especially small businesses like marketplace, also we need to have world wide internet connection since a connection is needed to do the transaction, what if there's no network available then they wouldn't be able to do the transaction. Let's not think about replacing Fiat but let's consider it as a new gate of transaction or new way to do a transaction.

[the ghabbar]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

If everyone dares to tell the truth, it is almost certain that people prefer to use digital money or use bitcoin and ethereum for now, this is due to the level of security in transactions and does not have enough binding rules.

However, if viewed from the other side, using digital money, be it bitcoin or athereum, is not very suitable to be applied globally, this is very influential with the mindset or permanent circulation that has not been able to provide it.

However, it is very interesting if this situation can be maximized by many countries, to adopt a new economic pattern in an era that is increasingly advanced and rapidly as it is today.

[kak uli]

depending on the wishes and capabilities of a country. if the government in a country has legalized it and there is a regulation that regulates digital currency then it looks like it will happen. I think so

[the ghabbar]

no this is impossible if crypto can replace fiat. crypto can only resemble fiat but for fully fiat transactions it is still the main and can be said to be one of the most important

That's right, there's no way crypto can replace fiat, this would be very impossible and strange, crypto can't resemble fiat in the same sense, but they can replace fiat in a different sense, especially when it comes to transactions, it's definitely full fiat priority.

It's impossible to just change, let alone start planning, current transactions still really need Full fiat even though people say different things, but in my view it's unlikely that this will change.

[bamb]

It's already happening.  A country in South America  El Salvador was the first country in the world to officially adopt bitcoin as legal tender! Bitcoin is going to be adopted by more countries in the future especially those country that are having hyper inflation.  As for the fiat,  fiat will still be very much around and both bitcoin and fiat will remain!

[MisterLangley]

Seems like a perfect transition between BTC and ETH but crypto can't replace fiat it's pretty much impossible to talk bitcoin and eth or fiat into one. Bitcoin is the one that has a quantity price in the current market.

And I think that might actually be the case because cryptocurrencies don't compete with fiat

[Republikcoin.com]

Replacing FIAT as the currency used for daily transactions is the most difficult thing for Bitcoin to achieve. For now, the existence of Bitcoin has been recognized by several sectors as an alternative payment and there are also those who make Bitcoin an instrument for making money such as investment and speculation. Thus, the function of Bitcoin has exceeded fiat which is only used as a means of payment.
Fiat is the best medium for everyday use of payment instruments, and Bitcoin has its own function.

[Pelana vreo]

-snip-

Some countries prohibit Bitcoin ownership and transactions due to its fluctuating value, a list of countries that accept Bitcoin can be found here wikipedia

I have seen several countries ban Bitcoin because Bitcoin cannot be controlled by one country, as I know, corruptors who have high positions in every country will do anything for it, but I believe that Bitcoin will replace USD and fiat currencies others because Bitcoin is very transparent and no one can manipulate every transaction

[breathlessz]

it can happen but in the long run, every civilization will replace the conventional one, so it is possible that bitcoin will replace it as a currency. but it cannot happen instantly, we can imagine equalizing perceptions for all countries is certainly not easy and also every current government certainly does not want to lose control

[kak uli]

-snip-

Some countries prohibit Bitcoin ownership and transactions due to its fluctuating value, a list of countries that accept Bitcoin can be found here wikipedia

I have seen several countries ban Bitcoin because Bitcoin cannot be controlled by one country, as I know, corruptors who have high positions in every country will do anything for it, but I believe that Bitcoin will replace USD and fiat currencies others because Bitcoin is very transparent and no one can manipulate every transaction

the explanation you convey is very true and certainly something that is very difficult to apply in many countries. In addition to currency values that fluctuate every time, many countries also prohibit them because they are afraid that it will be money laundering by corruptors. I think because of things like this, many countries have not regulated digital currencies in their respective countries.

[Cameron1Love]

Why they still thinking to replace fiat in the future? In the first place cryptocurrency is created for only medium of exchange, not really to replace fiat currency. Its still valuable and don't bare in mind that they will replace in the future.

[MarjorieZimmermanGinger]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

I don't think it can be implemented in the next 5 years, using bitcoin as a means of daily payment, this is not possible at this time, it is against existing rules, moreover bitcoin has an amount that has been determined by the owner.

Unlike the case with Ethereum, it is more likely to be used globally, although there are no specific rules governing it, but in general ethereum is more suitable for daily use than bitcoin itself.

[Rahman11]

Best discussion and some prediction about replacing crypto to fiat, see belows link, you will be gain some knowledge.
https://www.google.com/amp/s/www.investopedia.com/amp/news/could-cryptocurrencies-replace-cash-bitcoin-flippening/

[cunguks]

In my opinion, bitcoin have a higher chance of being used as a reserve asset by the government than replacing fiat currency to become the means of daily transaction. Because the price volatility would not allow such. No seller would want to accept a coin whose value keeps changing. And the relatively high gas fee would also be an hindrance too.

but if the problem lies only in fluctuations and high transaction fees. there are several assets other than bitcoin and ethereum that I think can solve this problem.
I believe what is happening now, is that the market's trust in fiat is too strong. assume they have money only by fiat. not with other assets.
if the consideration is for reserve assets held by the government such as gold stored in banks. I don't think it will fit. the government will not take the risk for this. it will be difficult to get all countries to accept crypto to replace fiat.

[Serco]

no this is impossible if crypto can replace fiat. crypto can only resemble fiat but for fully fiat transactions it is still the main and can be said to be one of the most important

i know it will be hard for etherum or bitcoin to replace fiat someday, its not about technology or something else but maybe the regulation and also as global system that could not changes. fiat will be useless if cryptocurrency applied as fiat in many countries, and no one will let it. i am agree cryptocurrency suitable as payment system but not as currency.

El Salvador has passed regulations on the use of Bitcoin as a means of payment and this can be a reference that Bitcoin can replace fiat currency. But in my opinion it will take years to make Bitcoin a means of payment that is used by everyone because in my opinion, Bitcoin is more suitable to be used as an asset

its different regulation for paymend and currency, el salvador only allowed bitcoin or other cryptocurrency used as payment system in el savador store, but it doesnt mean replace currency.

[ardydyon]

I think fiat payments will be greatly utilized in the future by crypto users but nowadays if we look at fiat payments made by eth has a very high gas cost with that began to emerge new smart contracts that rival eth by offering fiat or cheap gas costs for example we see today bnb with bep20.many new tokens and coins are under this project.every transaction made using fiat bsc bep20 at a very low cost when compared to eth.currently there are also other fiat such as trx20 and rumors that the latest cardano will also launch its own smart contract.I think this fiat will still be used but the options offered will be many.

[Golftech]

I don't think this is possible because cryptocurrencies have no analogues in offline mode. While fiat currency has a paper version.
In addition, the concept of cryptocurrency is still difficult for some people. The volatility of cryptocurrencies can have an adverse effect on people's well-being if absolutely everyone starts using them on a daily basis. But I believe that fiat and crypto currencies will coexist, integrating with each other.

Adoptions from most people is the first thing that will interfere in this situation then here comes the government that will

not allow anything without their control, coming from this 2 things it will be tough for crypto either btc or Eth to replace fiat

system, more on alternative and possible to co-exist but totally replacing the old traditional system, that's still far from reality.

[lenovop-70]

It could happen someday if human knowledge is advanced and parallel, the human need for transactions will be even greater. security and speed of transactions without any restrictions between countries with currency differences are no longer a problem when it is on the blockchain. so in my opinion, what we are discussing is just a matter of time, and people will agree to use bitcoin and ethereum as a substitute for fiat in the future.

[tabas]

It could happen someday if human knowledge is advanced and parallel, the human need for transactions will be even greater. security and speed of transactions without any restrictions between countries with currency differences are no longer a problem when it is on the blockchain. so in my opinion, what we are discussing is just a matter of time, and people will agree to use bitcoin and ethereum as a substitute for fiat in the future.

There's a huge division for most countries and mostly not going to agree to have one currency that can be accepted from here and there. But what's good with cryptocurrencies mostly, bitcoin.
There's no need for that division as we're a whole community that agrees and shares the same reason why we're having it and supporting to own it.

[dustboy]

It could happen someday if human knowledge is advanced and parallel, the human need for transactions will be even greater. security and speed of transactions without any restrictions between countries with currency differences are no longer a problem when it is on the blockchain. so in my opinion, what we are discussing is just a matter of time, and people will agree to use bitcoin and ethereum as a substitute for fiat in the future.

Crypto will not replace fiat, even if human knowledge is advanced in the future. Government regulation might be one of the reasons why crypto will not replace fiat. Government may adopt it as alternative payment system in the future, but the chance for crypto to replace fiat is still small. Crypto is also created/designed not to replace fiat.

[DonFacundo]

That will never happen because cryptocurrency is volatile. For sure the government would not allow bitcoin to replace the fiat money, so risky for people who own bitcoin what if emergency happen and you need money but the price of bitcoin is dumping so you are short, you bought bitcoin at high price. So it's not good idea that bitcoin replace fiat in my opnion.

[geegaw]

It could happen someday if human knowledge is advanced and parallel, the human need for transactions will be even greater. security and speed of transactions without any restrictions between countries with currency differences are no longer a problem when it is on the blockchain. so in my opinion, what we are discussing is just a matter of time, and people will agree to use bitcoin and ethereum as a substitute for fiat in the future.

Your problem is an idol disease and considering your choices will be the priorities of the future but when bitcoin runs parallel to time, maybe more people will agree but a large part feels the danger will still be separated, finally, a war like in the past emerges and the government is also the pioneer and gives an opinion that makes others respect. Decentralization cannot become the supreme council of society, replacing fiat is replacing government decision with society, small country can manage well, big country will be rebellious

[roosbit]

I don't think so. Believe it or not but there plenty of people out there that are afraid of unregulated products and bitcoin being one many will be reluctant to make this official money unless our governments have a hand in making it legal to try to get people have a change of mind.
But both bitcoin and fiat being used at the same time is possible and this is where we at.

[Abiky]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

Scarcity is not an issue, since Bitcoin is divisible to 8 units. There are a quadrillion satoshis in existence, which is more than enough for the today's global population. What's preventing Bitcoin from replacing Fiat is limited transaction capacity. Volatility is also a huge drawback, but not a concern if you use Bitcoin as a unit of account instead of Fiat (paying for things directly with Bitcoin regardless of its price in Fiat). Ethereum, on the other hand, is much faster and cheaper to use than Bitcoin. But it still has its limitations.

As long as central banks and governments control the mainstream economy, Bitcoin and other cryptocurrencies will remain as an alternative than a replacement to Fiat. It's very unlikely the world will shift to decentralized cryptocurrencies altogether because Fiat is still hard to beat. Most merchants and businesses accept Fiat on top of crypto, so it's highly unlikely banks will disappear anytime soon. I'm okay with that as long as crypto/Blockchain tech stays decentralized. Just my opinion

[Baihaki Khaizan]

according to the statements of experts such as BItstamp CEO Julian Sawyer: Bitcoin has drawbacks such as extreme volatility and is more likely to be part of payment methods such as cards, coins, currencies or checks. It is highly unlikely that it will be the torchbearer of financial transactions. Cryptos can be influenced by memes and tweets, making them highly volatile and therefore unsuitable for global or national financial systems. Bitcoin's value has halved since mid-April and more than quadrupled in value last year.

then Bannockburn Global Forex chief market strategist Marc Chandler said, volatile Bitcoin is a damper for financial stability for countries. When a country's currency loses credibility in the market, gets out of control, enjoys extreme volatility, it causes high inflation, which is why some countries peg their currency to other currencies and have a dollar-denominated economy like El Salvador did. This is undoubtedly a turning point for cryptos like Bitcoin, and it is definitely a moment of reckoning. Tellimer's head of financial equity research Rahul Shah is of the view that countries such as Liberia, South Sudan, Guatemala, and Haiti could be the next countries to legalize Bitcoin given their dependence on foreign remittance inflows, high poverty and low financial inclusion.

Sumber: https://www.cryptonewsz.com/can-bitcoin-ever-replace-fiat-currencies/

I think the debate about this will continue.

and I conclude that, cryptocurrencies are the future of payments; replacing fiat currency will be difficult, and cryptocurrencies currently face many challenges.

[onyek16M]

You are absolutely right. Bitcoin or Ethereum never replace fiat. This would be possible only if everyone in the world used crypto. But there are still many countries where crypto is banned. Also there is no physical form of crypto.

Cryptocurrency was not created in a physical form so that it cannot be held like fiat money, and ordinary people will always consider fiat more useful than cryptocurrency because fiat can be held, but on the other hand, cryptocurrency is also more profitable with various conveniences through its services, and for the problem there are some countries that still prohibit cryptocurrencies, it also depends on the country's regulations and the rules of the country, so we don't need to look at that.

No problem Cryptocurrency was created digital or not created in a physical but makes it problem is people does not know what a cryptocurrency and how to use so this is one of reasons that cryptocurrency never replace fiat money.  cryptocurrency is also a new thing maybe it make some of countries doubt dan choose not learn more.

[kak uli]

I think it's something that can't possibly happen. It's not easy for a country to replace its currency, let alone replace it with digital currency!!. But what might happen to many countries in the world is to legalize transactions with digital currencies based on regulations from the relevant government.

[awik p]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

Of course the more sophisticated the technology, the payment must be done digitally, but this takes a long time to adjust and is not as easy as one might think. many people who don't use crypto even if the country requires it will also be a big problem because not everyone is touched by technology, maybe some people out there have a natural life. what happens now is that payments are mostly used in US or USD.

I think when the time is right then crypto will position itself properly. maybe not for now or in the near future, but over time, the development of digital technology, everyone's busyness and needs, etc. then at that time crypto will answer it, because until now it can be said that crypto is still looking for its identity and struggling to win the hearts of governments in every country

[South Park]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

If what you said was true then we will be seeing something like that happening already and ETH being used in all kind of transactions and this is not the case, ethereum is mainly used to buy assets that run above the ethereum network, this is also known as just pure speculation, almost no one buys something with ethereum, and about your question, bitcoin will replace fiat for some people but not all, I am sure that in the future I will probably not use fiat once I can make all my purchases with my bitcoin.

[bots1]

I think bitcoin will not be able to replace fiat money to become the main currency. Bitcoin is present as an alternative currency, especially digital currency. In terms of function, Bitcoin is considered to only be able to partially fulfill the function of currency, namely as a means of payment. Bitcoin is like a medium of exchange and means of payment such as gold, paper money, stocks, commodities whose value is a general consensus as a result of public acceptance and trust. Bitcoin exchange rates change from time to time and fluctuate. In the future Bitcoin will still be an alternative currency.

[beveryu778]

There will come a time when all transactions will be done through cryptocurrency.
But I think it will take a long time for such a system to come.
This system will be much better if you can get a lot of peace through transactions and do not have to fall into any suffering

[Hughes_Ryan]

In my opinion, with the perfect characteristics of bitcoin/ETH, this is entirely possible in the distant future although the probability of reality is very small.  Both Bitcoin/ETH have a fixed supply which will create equal supply/demand and deflation compared to fiat.  Even a CBDC has been established, meaning that Bitcoin/ETH has proven how macro and efficient the technology of cryptocurrencies can be to offer a real opportunity for change.

[Abiky]

according to the statements of experts such as BItstamp CEO Julian Sawyer: Bitcoin has drawbacks such as extreme volatility and is more likely to be part of payment methods such as cards, coins, currencies or checks. It is highly unlikely that it will be the torchbearer of financial transactions. Cryptos can be influenced by memes and tweets, making them highly volatile and therefore unsuitable for global or national financial systems. Bitcoin's value has halved since mid-April and more than quadrupled in value last year.

then Bannockburn Global Forex chief market strategist Marc Chandler said, volatile Bitcoin is a damper for financial stability for countries. When a country's currency loses credibility in the market, gets out of control, enjoys extreme volatility, it causes high inflation, which is why some countries peg their currency to other currencies and have a dollar-denominated economy like El Salvador did. This is undoubtedly a turning point for cryptos like Bitcoin, and it is definitely a moment of reckoning. Tellimer's head of financial equity research Rahul Shah is of the view that countries such as Liberia, South Sudan, Guatemala, and Haiti could be the next countries to legalize Bitcoin given their dependence on foreign remittance inflows, high poverty and low financial inclusion.

Sumber: https://www.cryptonewsz.com/can-bitcoin-ever-replace-fiat-currencies/

I think the debate about this will continue.

and I conclude that, cryptocurrencies are the future of payments; replacing fiat currency will be difficult, and cryptocurrencies currently face many challenges.

Crypto is the future of money. But it'll never replace Fiat because of the reasons mentioned earlier. Volatility and lack of regulations, totally "kills" crypto's ability to be used on top of Fiat. It's better as a speculative investment than anything else. I'm fine with that as long as crypto remains a decentralized and censorship-resistant kind of money for the whole world to enjoy. Bitcoin is the one which started it all, so it's very unlikely to go away anytime soon. One thing for sure is that the pioneer cryptocurrency (BTC) makes a great store of value. ETH is a somewhat-better cryptocurrency, but it still has its limitations. Instead of focusing on replacing Fiat, we should focus on making crypto land a better place. It's all about utility than anything else. Time will tell us whenever crypto will live forever with Fiat or fade into oblivion as a failed experiment. Just my thoughts

[Zulkifli BI]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

I don't think Bitcoin or ethereum will replace fiat a tool for daily use alike, because not everyone knows and uses bitcoin nowadays so it is impossible to replace fiat. although currently many are using ethereum and bitcoin, they are still constrained by high transaction fees, which is an obstacle for crypto users.

[nelliella]

LoL hell yes : we are evolving & money is evolving check the last 200 years , people have become more individual and free . We don't want to live dependent on governments or banks etc . Yes it's hard to change habits but it is inevitable .

And hell yes : How can bitcoin /Eth replace fiat with those transaction fees ?  this is ridiculous , If we able to create a currency without fees or really really low fees it will be pure revolution  .. so name another currency .

[bitzizzix]

Bitcoin or Ethereum and other cryptocurrencies are not to replace fiat which has been around for a long time, but crypto and fiat to complement each other even though the transactions of crypto assets on the blockchain are immutable which makes them more secure than fiat.
Crypto and fiat are similar but not the same and in my opinion crypto cannot replace fiat because both will be accepted and go hand in hand but no one knows when it will happen as a whole, because it will take a very long time and will also have pros and cons until the end they both walk together.

[nicecrypto]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

While this might look possible in theory, practically, I don't think that any cryptocurrency will replace Fiat money someday. If cryptos are been spent/accepted like Fiat by some organisation and individuals, this does not mean that the Fiat currency will be replaced by crypto. There have been other commodities that were used back in the years too for transactions and I dont think those replaced the fiat money and I see the same for Cryptocurrency.

[istiak2277]

Bitcoin or ethereum don't have any chance to replace fiat anytime. An unstable market and lack of any regulation is the main problem we are facing to initiate that kind of adoption. Though the stable coin has the chance because of stable market condition the problem is there is already a lot of stable coins and they are backed by difference commodities so which one will be used globally.

[Frengki_cisco]

If-you ask me personally about Bitcoin and Ethereum replacing Fiat in the future-I emphatically say _NO_and it will never happen, There are many countries and each country has its own fiat,
pilot:
One family only, have different ideas, what else country, think about it.

[MoneyJ]

Crypto currency is said to be the people's money. If and when government start to drastically change their monetary policy bitcoin can not replace government money. But if it is the way it is, chances are the trust system will pave the way for new medium of exchange.

[King Khaizan]

Bitcoin is still considered difficult to replace the role of conventional currency

Bitcoin also has several problems that make it difficult to replace conventional currencies.

Bitcoin has no underlying and is not centralized. In addition, Bitcoin does not have a deposit and credit mechanism like conventional currencies.

In general, Bitcoin is currently present as an alternative currency, especially digital currencies. In terms of function, Bitcoin is considered to only be able to partially fulfill the function of currency, namely as a means of payment.

Bitcoin is like a medium of exchange and a means of payment such as gold, diamonds, paper money, stocks, commodities whose value is a general consensus as a result of public acceptance and trust.

Bitcoin exchange rates change from time to time and fluctuate.

In the future Bitcoin will still be an alternative currency.

[2tang]

To replace fiat currency seems to have to go through many processes, in addition to having regulations from the government in a country and also having the approval of many parties. In my opinion, this is a very complicated process and it is impossible for digital currencies to replace fiat currencies that have been recognized by the state.

If I prefer to add only, not to replace existing ones such as Fiat, because with the addition of payments in the form of Digital currency and the use of Digital currency, this will provide other additional options for those who have often used digital currency, because often use Digital currency also very often use Fiat currency, I think that is better.

[Rahman11]

Many in the cryptocurrency community have spent years predicting that digital currencies will someday take the place of fiat currencies. But mainstream economists tend to view cryptocurrencies with more than a bit of disdain. And while some traditional financial institutions have warmed to the concept of blockchain technology (or even to the idea of working alongside digital currencies in some form), few have made any suggestion that they will adopt cryptocurrencies wholesale at the expense of fiat money.

While cryptocurrencies have yet to fully take over in the real world in a way that enthusiasts have predicted, there are nonetheless some signs that various currencies are making it in the traditional business space, even if only to a limited extent.

[jostorres]

To replace fiat currency seems to have to go through many processes, in addition to having regulations from the government in a country and also having the approval of many parties. In my opinion, this is a very complicated process and it is impossible for digital currencies to replace fiat currencies that have been recognized by the state.

Actually, in small countries, this can happen and in fact, is happening right now. Crypto adoption has positives and negatives along with it. The biggest advantage is that it contributes to building a tax-free economy. I mean obviously, you can't force people to pay taxes if you legalize crypto. The biggest negative is that the adoption of crypto induces some criminal activities and things like money laundering.

If I have to be brutally honest, I cannot see a world where fiat is replaced completely by cryptocurrencies. It's next to impossible because to run strong nations, you need governments and to maintain governments and economy, you need taxes.

[South Park]

I think bitcoin will not be able to replace fiat money to become the main currency. Bitcoin is present as an alternative currency, especially digital currency. In terms of function, Bitcoin is considered to only be able to partially fulfill the function of currency, namely as a means of payment. Bitcoin is like a medium of exchange and means of payment such as gold, paper money, stocks, commodities whose value is a general consensus as a result of public acceptance and trust. Bitcoin exchange rates change from time to time and fluctuate. In the future Bitcoin will still be an alternative currency.

The best part about about this is that bitcoin does not need to do this, bitcoin only needs to keep existing and still be an alternative the the current system that is in place, I know that many people in this forum want for the current banking system to disappear and idealistic stuff like that, but we need to be realistic, bitcoin only needs to provide an alternative for people like us to get out of the fiat system and the abuses of bankers and politicians, and if we can live our life without having to touch fiat again then that is more than enough for me.

[Sihab76]

Howway Ethereum and bitcoin popularity increasing , so we can easily guess that Fiat money one day replace by cryptocurrency specially Bitcoin and Ethereum. Many investors and traders guess that bitcoin would be the number one currency in the world in future generations.

[onecall123]

Howway Ethereum and bitcoin popularity increasing , so we can easily guess that Fiat money one day replace by cryptocurrency specially Bitcoin and Ethereum. Many investors and traders guess that bitcoin would be the number one currency in the world in future generations.

Now it's kind of mandatory to implement digital cash systems. In comparison with hand cash, digital cash is less risky. However, BTC and ETH have maintained their price level and investors buying BTC/ETH are pushing the price much higher, meaning we have better days ahead. We will have to wait longer to replace Fiat.

[Veter2000]

Crypto currency is said to be the people's money. If and when government start to drastically change their monetary policy bitcoin can not replace government money. But if it is the way it is, chances are the trust system will pave the way for new medium of exchange.

Precisely because bitcoin is a decentralized private cryptocurrency that does not have a single control and emission center, it will never replace fully centralized sovereign fiat currencies. The state will never give control over the unit of account of the country in the hands of a decentralized community, which does not even consist of citizens of this country. Naturally, if we are not talking about countries with a ruined financial system like El Salvador or Venezuela or Zimbabwe.

[South Park]

Howway Ethereum and bitcoin popularity increasing , so we can easily guess that Fiat money one day replace by cryptocurrency specially Bitcoin and Ethereum. Many investors and traders guess that bitcoin would be the number one currency in the world in future generations.

I also think so, but the use of Fiat will still exist even though Bitcoin and Ethereum will be used by many people and merchants in this world, because it will only be an additional payment for certain options, not for all shopping options, because in remote areas that are still there is no internet yet it will be very difficult to use Bitcoin and Ethereum as payment, and they will still use Fiat.

Governments are never going to give up their own fiat currencies, the power they get from them is amazing so if anything I think that before we see the huge adoption that we are looking for at some point cryptocurrencies are going to be made illegal as governments try to assure the survival of their fiat currencies and themselves, however this is not going to work and people are still going to use cryptocurrencies and that is when they are going to finally accept that cryptocurrencies are here to stay and there is nothing they can do to change this.

[CapGelatik]

Howway Ethereum and bitcoin popularity increasing , so we can easily guess that Fiat money one day replace by cryptocurrency specially Bitcoin and Ethereum. Many investors and traders guess that bitcoin would be the number one currency in the world in future generations.

I also think so, but the use of Fiat will still exist even though Bitcoin and Ethereum will be used by many people and merchants in this world, because it will only be an additional payment for certain options, not for all shopping options, because in remote areas that are still there is no internet yet it will be very difficult to use Bitcoin and Ethereum as payment, and they will still use Fiat.

Yes the use of Fiat I'm sure it will still exist if only Bitcoin or Ethereum was legalized as payment,
I personally think that Fiat will still be a major payment,
Bitcoin or Ethereum might just be a payment option I'm not too sure it will replace Fiat

[jinneas]

Fiat currency is the country's most trusted currency, and it will not be replaced by bitcoin.

The biggest difference between Bitcoin and fiat currency is its decentralization. Bitcoin is not regulated by any government agency, and the government will not use currencies that they cannot control and cannot make profits.

Although the development of cryptocurrency is getting better and better, bitcoin is also used by more and more people. But its scope of use has not become more popular, high volatility unstable prices and high transaction fees cannot be used as a currency for daily transactions.

[RokokGudangGaram]

One of the most impossible things that can happen, I really don't think that the government would let that happen if that would happen. But many claims and articles online that says cryptocurrency would be able to replace Fiat in the future but I was thinking that if the fiat will be replaced by cryptos I think there will be some consequences.

[dimox]

no, never.
i think we like when bitcoin be bitcoin, and crypto still be crypto, flow like usual. when it happen, government will make new rule about their payment method, and take control above crypto, and its not good for user.

[RBLT]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

I don't think you can replace Fiat currency since many peeps still used that, but there's also a chance for Bitcoin to be used as a payment method, but considering the high price of Bitcoin makes you think twice before even use Bitcoin. Cheers!

[Veter2000]

no, never.
i think we like when bitcoin be bitcoin, and crypto still be crypto, flow like usual. when it happen, government will make new rule about their payment method, and take control above crypto, and its not good for user.

Precisely because bitcoin is a decentralized private cryptocurrency that does not have a single center of control and emission, governments will never be able to take control of it and, accordingly, will not replace it with sovereign fiat currencies, which are in full control.

[jack wira]

Will Bitcoin/eth replace fiat one day?
 
I think it's most likely not going to happen, bro, considering that not all of the world's people know about technology, especially the crypto world, more so in rural areas, but with the development of current crypto technology advances, some people will still use bitcoin and ethereum.  used as a means of payment in parts of the world.  even bitcoin and ethereum will be a companion and reserve for the government in securing the economy of their respective countries, bro.

[Abiky]

Governments are never going to give up their own fiat currencies, the power they get from them is amazing so if anything I think that before we see the huge adoption that we are looking for at some point cryptocurrencies are going to be made illegal as governments try to assure the survival of their fiat currencies and themselves, however this is not going to work and people are still going to use cryptocurrencies and that is when they are going to finally accept that cryptocurrencies are here to stay and there is nothing they can do to change this.

Exactly. As long as governments exist, Fiat won't be going anywhere. Banks are too powerful even with crypto/Blockchain tech in play. Bitcoin will only remain as an alternative than a replacement of the current monetary system simply because it's not backed by the government. Not to mention, Bitcoin is widely unstable and unsuitable as a currency for day-to-day payments.

Which type of currency to use will solely depend on your daily needs. If you want stability/convenience, then go with Fiat. But if you're looking for sound money that's outside the control of governments and central banks alike, then go with Bitcoin. I'd choose both for my own financial benefit. What matters is that Bitcoin stays true to its roots by being a decentralized and censorship-resistant cryptocurrency. As long as Bitcoin remains like this, there should be nothing to worry about. Just my thoughts

[conected]

no, never.
i think we like when bitcoin be bitcoin, and crypto still be crypto, flow like usual. when it happen, government will make new rule about their payment method, and take control above crypto, and its not good for user.

Precisely because bitcoin is a decentralized private cryptocurrency that does not have a single center of control and emission, governments will never be able to take control of it and, accordingly, will not replace it with sovereign fiat currencies, which are in full control.

- By using technology and shadow of the law, the hidden parts of bitcoin and ethereum will still voluntarily hand over the controlling code thena little compensation is just a grain of sand to the government but a piece of code is unique and can not become the exclusive object of each country, how to deal with copyright. The supply of both products has allocated more than half, not to mention the coin burning process and the limited supply, unequal would be rebellion and the government hates such wars

[South Park]

I think bitcoin will not be able to replace fiat money to become the main currency. Bitcoin is present as an alternative currency, especially digital currency. In terms of function, Bitcoin is considered to only be able to partially fulfill the function of currency, namely as a means of payment. Bitcoin is like a medium of exchange and means of payment such as gold, paper money, stocks, commodities whose value is a general consensus as a result of public acceptance and trust. Bitcoin exchange rates change from time to time and fluctuate. In the future Bitcoin will still be an alternative currency.

The best part about about this is that bitcoin does not need to do this, bitcoin only needs to keep existing and still be an alternative the the current system that is in place, I know that many people in this forum want for the current banking system to disappear and idealistic stuff like that, but we need to be realistic, bitcoin only needs to provide an alternative for people like us to get out of the fiat system and the abuses of bankers and politicians, and if we can live our life without having to touch fiat again then that is more than enough for me.

Well, the point is that bitcoin must still exist. when a country also accepts bitcoin as the main means of payment, I worry that they can manipulate the price of bitcoin. besides, getting the country to manage bitcoin will be a central system. However, to think that a country abandoned their Fiats, it was simply impossible. Currently, bitcoin is very good as an investment tool, and as an alternative payment. So far I never thought that bitcoin or ethereum would replace a country's fiat. the truth is that some countries are better off developing their own crypto than accepting bitcoin or ethereum as their currency.

The thing is that any country that may like to manipulate the price of bitcoin will need to buy a lot of it and this is going to benefit bitcoin and this is not something they want, so the only option they have is to use the media and their regulations to try to stop people from adopting bitcoin, but when people listen to stories of people obtaining great profits in the markets then they will invest in this market regardless of what the media and governments say, so I am not that worried about the influence they may try to exert over this market.

[Bitstar_coin]

Eth should take care of high transaction fee first, this should be first and major priority to the developers,  even after the much awaited London fork thr transaction fees are even more unbearable, normal fiat don't have such high transaction fees so why will eth replace fiat! For now I don't think this is an option to consider,  there are many flaws that needs to be corrected before talking about replacing an aged currency that have served for so long, if you are transferring small amount in  eth you will pay a transaction fee higher than the amount.

[andeluna]

Fiat will replace in the future but we need to consider that not only BTC or ETH will replace it but some other country have their own electronic wallet with e-money with the same currency as their fiat money which they can use it everytime they will purchase to a store or online shop. Theres a lot of coin that we consider to replace fiat money of every country we dont need to stick to btc or eth, yes these are the crypto currency that has a high value in the market but theres a lot of altcoin that has potential too.

[zachyboy090118]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

I think mate its impossible to replace fiat to cryptocurrency. Government never replace it as we back in the time bitcoin started making a name in all over the globe. If im not mastaken the government hunting who own the bitcoin and people behind but they didn't capture it. Because the reason some bitcoin owner using it in illegal way but not all to make it clear. Mybe some country will able to use cryptocurrency but not all.

[Veter2000]

Fiat will replace in the future but we need to consider that not only BTC or ETH will replace it but some other country have their own electronic wallet with e-money with the same currency as their fiat money which they can use it everytime they will purchase to a store or online shop. Theres a lot of coin that we consider to replace fiat money of every country we dont need to stick to btc or eth, yes these are the crypto currency that has a high value in the market but theres a lot of altcoin that has potential too.

Fiat is not synonymous with cash. Fiat money is a sovereign currency without any security, whose value is determined based on the instructions of the authorities. That is, all types of digital currencies of central banks CBDC will remain exactly the same fiat currencies as cash and non-cash types of these sovereign currencies.

[South Park]

Eth should take care of high transaction fee first, this should be first and major priority to the developers,  even after the much awaited London fork thr transaction fees are even more unbearable, normal fiat don't have such high transaction fees so why will eth replace fiat! For now I don't think this is an option to consider,  there are many flaws that needs to be corrected before talking about replacing an aged currency that have served for so long, if you are transferring small amount in  eth you will pay a transaction fee higher than the amount.

The developers of ethereum have tried everything they can in order to reduce the fees that you need to pay and they have failed to do so and I think it is time to admit this is not going to happen as long as the demand is there, ethereum is a very popular coin in which hundreds or even thousands of projects run at all times and this is going to generate traffic and expensive fees for those that are looking to move small amounts of money within their network.

[Hypnosis00]

Eth should take care of high transaction fee first, this should be first and major priority to the developers,  even after the much awaited London fork thr transaction fees are even more unbearable, normal fiat don't have such high transaction fees so why will eth replace fiat! For now I don't think this is an option to consider,  there are many flaws that needs to be corrected before talking about replacing an aged currency that have served for so long, if you are transferring small amount in  eth you will pay a transaction fee higher than the amount.

The developers of ethereum have tried everything they can in order to reduce the fees that you need to pay and they have failed to do so and I think it is time to admit this is not going to happen as long as the demand is there, ethereum is a very popular coin in which hundreds or even thousands of projects run at all times and this is going to generate traffic and expensive fees for those that are looking to move small amounts of money within their network.

That high demand will particularly keep the fees still high, we have nothing to do with that but to accept it. It found no choice for ETH users to pay for a few bucks higher from the other platform but despite this thing. We even see that ETH still increasing its price and market demand which means that people are not leaving ETH and they understand the situation, and I think the upgrade wasn't a failure. It was just hard to lower the transactions fees in the situation that there is still high demand.

[wheelz1200]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

They will exist side by side.  The main reason it won't flip fiat is because national governets will never want to give up complete control of their financial system.  They will exist in parallel.  Eventually each will have its niche, crypto is perfect for micropayments, fiat still good for day to day transactions.

[Veter2000]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

They will exist side by side.  The main reason it won't flip fiat is because national governets will never want to give up complete control of their financial system.  They will exist in parallel.  Eventually each will have its niche, crypto is perfect for micropayments, fiat still good for day to day transactions.

    I agree that cryptocurrencies and superstitious fiat currencies have their own niches for use, where each of them has competitive advantages. It is also impossible to consider all cryptocurrencies as having a single function. So bitcoin and ether are not very suitable for micropayments, but for example, Tron or CHIA, on the contrary.

[South Park]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

They will exist side by side.  The main reason it won't flip fiat is because national governets will never want to give up complete control of their financial system.  They will exist in parallel.  Eventually each will have its niche, crypto is perfect for micropayments, fiat still good for day to day transactions.

This is true, one clear example of this is Zimbabwe, after the disaster their fiat currency became and after other foreign currencies became the money people used on their everyday transactions the government tried to impose once again their currency causing yet another crisis, so even if bitcoin and other cryptocurrencies could deliver a knockout blow to fiat currencies and destroyed them in the process governments will at a later time try to reintroduce their fiat currencies as a great deal of their power derives from them.

[ene1980]

~
This is true, one clear example of this is Zimbabwe, after the disaster their fiat currency became and after other foreign currencies became the money people used on their everyday transactions the government tried to impose once again their currency causing yet another crisis, so even if bitcoin and other cryptocurrencies could deliver a knockout blow to fiat currencies and destroyed them in the process governments will at a later time try to reintroduce their fiat currencies as a great deal of their power derives from them.

I am not following the Zimbabwe economic crisis and i have not heard about them enforcing others to use their currency once again. When i check about the worst ten economies in the world i did not see Zimbabwe. Iran comes first along with Vietnamese Dong. Suppose even if the government enforces will the people change their methods and start accepting their currency or look for a stable one.

[livingfree]

I agree that cryptocurrencies and superstitious fiat currencies have their own niches for use, where each of them has competitive advantages. It is also impossible to consider all cryptocurrencies as having a single function. So bitcoin and ether are not very suitable for micropayments, but for example, Tron or CHIA, on the contrary.

Bitcoin is still suitable for small payments, there's the lightning network and even if you use bitcoin, the fees are not that really high this time.

That's why El Salvador has adopted it as a legal tender and they're seeing the good side of it not just as a payment but as well as a store of value.

[Abiky]

Bitcoin is still suitable for small payments, there's the lightning network and even if you use bitcoin, the fees are not that really high this time.

That's why El Salvador has adopted it as a legal tender and they're seeing the good side of it not just as a payment but as well as a store of value.

Even with the low fees and fast speeds, neither Bitcoin nor Ethereum will replace Fiat because they're decentralized. Governments want something they can control, so it's unlikely Fiat will disappear anytime soon. On the contrary, Fiat will become "digitized" giving governments and central banks greater control over people's lives.

What matters is both cryptocurrencies stay true to its roots by being decentralized cryptocurrencies anyone can use worldwide. With decentralization comes censorship-resistance. It's no wonder why governments have been unable to destroy Bitcoin and Ethereum to this date. I'm fine with crypto being an alternative to Fiat than a replacement. People will ultimately choose which type of currency they want to perform their transactions. Just my opinion

[omone1]

As I write, I have 99% of my fund in Cryptocurrency because my government keeps devaluating our currency by  driving up inflation and willfully causing people to loose money. So if I need physical cash, it takes me less than 5mins to convert to cash. With time, bitcoin is likely going to replace flat, the government know they know they have lost the battle against Cryptocurrency

[Banulit]

I don't think that cryptocurrencies such as Bitcoin/Ethereum will replace fiat knowing that its the financial monetary system uses by all the people in the world. I just think that bitcoin/ethereum and other cryptos will be part of the innovation and adaptation for a new additional financial system in the whole world.

[South Park]

~
This is true, one clear example of this is Zimbabwe, after the disaster their fiat currency became and after other foreign currencies became the money people used on their everyday transactions the government tried to impose once again their currency causing yet another crisis, so even if bitcoin and other cryptocurrencies could deliver a knockout blow to fiat currencies and destroyed them in the process governments will at a later time try to reintroduce their fiat currencies as a great deal of their power derives from them.

I am not following the Zimbabwe economic crisis and i have not heard about them enforcing others to use their currency once again. When i check about the worst ten economies in the world i did not see Zimbabwe. Iran comes first along with Vietnamese Dong. Suppose even if the government enforces will the people change their methods and start accepting their currency or look for a stable one.

The link to the Wikipedia mentions what I am saying, the hyperinflation that we saw in Zimbabwe was probably the worst in recorded history, then the government had no other option but to give up and get out of the business of printing their own currency, only to try to do so again creating another crisis and inflation being above 700% per year, while the government of Zimbabwe is particularly inept at managing their economy this is the fate of all fiat currencies as they are not backed by anything.


https://en.wikipedia.org/wiki/Hyperinflation_in_Zimbabwe

[Valak]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

If viewed from the total supply, maybe bitcoin is not enough to be used as a substitute for Fiat. If we share the total bitcoins with the entire world population, then each one only gets 0.002692 Bitcoin. That is, the amount is not enough to serve as currency in every person's wallet. But Ethereum has the ability in the context of mass adoption, because the Ethereum supply is also likely to increase, as has happened in previous years.
But what we should know is that Bitcoin can be used as a safe reserve of assets for everyone. Everyone who holds Bitcoin of course will not hesitate to lose even less than the amount they hold.

[Spack17]

I think that day will never come. Bitcoin and Ethereum both are volatile cryptocurrencies. Maybe Ethereum doesn't have a limited supply but Bitcoin does. These kind of factors are the biggest things that affect the decision of governments. They don't want to make a currency like this their legal tender. It is seen for the governments of developed countries especially.

[lumierre]

Of course I prefer crypto to fiat money, as it gives me complete freedom. Nobody bans my transactions, nobody cares about sources of my money.
If we are choosing a coin for payment, I would rather choose Tron (TRX) as it is rather fast and cheap when it comes to transaction fees.
But still we have to do something with volatility as today it is more possible to pay in stable coins than in other altcoins

[South Park]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

If viewed from the total supply, maybe bitcoin is not enough to be used as a substitute for Fiat. If we share the total bitcoins with the entire world population, then each one only gets 0.002692 Bitcoin. That is, the amount is not enough to serve as currency in every person's wallet. But Ethereum has the ability in the context of mass adoption, because the Ethereum supply is also likely to increase, as has happened in previous years.
But what we should know is that Bitcoin can be used as a safe reserve of assets for everyone. Everyone who holds Bitcoin of course will not hesitate to lose even less than the amount they hold.

This is a huge misconception, economist make the same argument for gold, but gold was used for thousands of years and the world economies of the time ran above it, this just means that bitcoin will be incredibly valuable and that people will have to use mBTC or even lower denominations for their everyday purchases, I know this may seem impossible but I really think that is the world we are headed and I cannot wait for this to become a reality.

[carrigan]

I think this is not possible. We know for ourselves that the supply of Bitcoin itself is limited, besides that this currency is in digital form which not everyone knows how to use, many of whom are still technologically stuttering so it is difficult to reach it. Moreover, the value of Bitcoin itself is very volatile so it is difficult to determine how much. Fiat will continue to apply in society because it is easier to apply besides this currency is also issued directly from the government. Of course, fiat has high support from the government.

[Trouvaille]

Cryptocurrencies such as Bitcoin and Ethereum will not replace fiat currencies, and they will be used as reserve assets by more people.
Cryptocurrency is decentralized and is not regulated by the government. In contrast, people will trust the legal currency that is regulated and protected by the government more.
The price of cryptocurrency fluctuates greatly, and it is not suitable for currencies for daily transactions.
Under the trend of digital economy, many countries will develop their own digital currencies instead of using encrypted currencies.

[OrangeII]

I agree that cryptocurrencies and superstitious fiat currencies have their own niches for use, where each of them has competitive advantages. It is also impossible to consider all cryptocurrencies as having a single function. So bitcoin and ether are not very suitable for micropayments, but for example, Tron or CHIA, on the contrary.

Bitcoin is still suitable for small payments, there's the lightning network and even if you use bitcoin, the fees are not that really high this time.

That's why El Salvador has adopted it as a legal tender and they're seeing the good side of it not just as a payment but as well as a store of value.

I've always thought that the biggest thing bitcoin/ethereum is doing is being an alternative payment in every country, but it won't be able to replace Fiat. however, when El Salvador accepted bitcoin as a legal tender, I thought that the potential of bitcoin today could replace Fiat.
although at this time bitcoin is still quite difficult to replace Fiat due to various regulations, but I think the development of bitcoin to become a legal payment alternative in a country, is an extraordinary thing.

[TheGreatPython]

Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.

First we need some update about Ethereum is not a cryptocurrency it's simply open source blockchain with smart contract, so it's not possible for this to replace on other hand bitcoin is decentralized which is never been loved by any government because they never allow us freedom they want to check us through our paper currency movement.

We should also think that we would having some disadvantage for using digital currency may take some fees and its price is fluctuation is also the biggest issue because many things need some quick action from us but with this we cannot do this all very quickly.

[South Park]

Cryptocurrencies such as Bitcoin and Ethereum will not replace fiat currencies, and they will be used as reserve assets by more people.
Cryptocurrency is decentralized and is not regulated by the government. In contrast, people will trust the legal currency that is regulated and protected by the government more.
The price of cryptocurrency fluctuates greatly, and it is not suitable for currencies for daily transactions.
Under the trend of digital economy, many countries will develop their own digital currencies instead of using encrypted currencies.

Besides we don't really need for cryptocurrencies to replace fiat currencies, the only thing that we need is to have an alternative and be able to use our bitcoin whenever and wherever we want, quite honestly once we reach that goal I can say that bitcoin will have succeeded, if you read the white paper of satoshi there is nothing there about replacing fiat currencies, satoshi just wanted to create a currency that you could use without interference of a third party and I think that slowly but surely his vision is becoming true.

[lousie9]

Bitcoin or Ethereum is very difficult to replace fiat money because the price given is unstable, especially Crypto fluctuations are very high and to be used as a benchmark currency replacement is very impossible for Bitcoin but if only as an alternative payment it might be possible but still have to adjust every time there is Bitcoin price updates are the best choice for storing current assets in several stablecoins in crypto.

[bixiiMaphi321]

It is difficult to predict what will happen in the future, but for the time being, crypto is existing alongside the fiat currency FIAT. Currently, they complement each other in circulation, people buy speculative crypto to make a profit, from crypto to FIAT to buy goods. Many people still see crypto as an investment channel instead of seeing it as a new coin in the future.

It is very difficult for FIAT to be completely replaced because it affects the regime of a country, without control of the currency, if it is decentralized, it will easily make the society unstable.

[Marcorey]

Cryptocurrencies such as Bitcoin and Ethereum will not replace fiat currencies.
Although cryptocurrency is becoming more and more popular, it is also used by more and more users. But its price fluctuates and is not suitable for daily trading.
The decentralization of cryptocurrency is difficult to track and supervise by the government, and many countries still oppose cryptocurrency. Many people regard it more as a store of value asset.

[Abiky]

Besides we don't really need for cryptocurrencies to replace fiat currencies, the only thing that we need is to have an alternative and be able to use our bitcoin whenever and wherever we want, quite honestly once we reach that goal I can say that bitcoin will have succeeded, if you read the white paper of satoshi there is nothing there about replacing fiat currencies, satoshi just wanted to create a currency that you could use without interference of a third party and I think that slowly but surely his vision is becoming true.

Of course. Satoshi never intended Bitcoin to be a replacement of Fiat. That's because he knew governments wouldn't give up Fiat for Bitcoin anytime soon. The volatile prices on the market greatly defeats Bitcoin's ability to be used as a serious currency for day-to-day payments. The same thing applies to Ethereum and other altcoins on the market.

Instead of focusing on replacing Fiat, we should focus on making crypto a strong alternative that would serve as a viable option for those looking to escape from the clutches of central banks and governments alike. The more the community collaborates together, the strong crypto/Blockchain tech will be. Thanks to the decentralized and open source design of crypto, the industry is now a "force to reckon with". People can use crypto without fear of government censorship whatsoever. I guess that's what matters above all else. Fiat will continue to be relevant because banks and governments continue to patronize it. It'll only switch from being physical to digital, but that's it. I wouldn't worry about this, as long as people have financial freedom with crypto. Just my opinion

[Darktongue]

I see tweet by someone that buying coffee by bitcoin without paying any additional fees because its using lightning network, for me its really cool.
Maybe in the future people people will prefer coin over fiat because they're realize, the ones that volatile isnt the Bitcoin/ Altcoin, its the Fiat itself.

Tweet Link : https://twitter.com/AaronvanW/status/1436040471554445313

Almost every currency is volatile, including the Fiat currency. Traders are taking profit from the Fiat currency like "lnstaforex". At least 5-10 years' time must need Fiat currency to twice dump or up. Crypto is a very highly volatile market compared to Fiat currency.  Although world war or war effects we will see in both USDT and crypto. We can't be safe in any currencies, but gold has a real stable price even after any war.

[dhemasm]

Almost every currency is volatile, including the Fiat currency. Traders are taking profit from the Fiat currency like "lnstaforex". At least 5-10 years' time must need Fiat currency to twice dump or up. Crypto is a very highly volatile market compared to Fiat currency.  Although world war or war effects we will see in both USDT and crypto. We can't be safe in any currencies, but gold has a real stable price even after any war.

Fiat was less volatile rather than crypto since it was controlled by centralized entity so i suppose it's impossible to replace fiat and i was really agree with you, Some crisis can have some significant impact to the economy including fiat but i think it's will having small impact on the crypto expect global crisis as you said but peopel see crypto as digital gold so it's good as an store-of-value beside gold.

[nikola22]

I don't think that BTC or ETH someday will replace fiat. first of all governments won't allow this to happen and common people don't like the volatility of cryptocurrencies. just imagine how the prices in supermarkets will change every day.

[ene1980]

I don't think that BTC or ETH someday will replace fiat. first of all governments won't allow this to happen and common people don't like the volatility of cryptocurrencies. just imagine how the prices in supermarkets will change every day.

You really do not need the help of a government to make these legal, all you need to do is accept cryptocurrencies and you are good to go. Unless a government comes out with a blanket ban on the market there is nothing you need to worry and i am not expecting majority of the countries coming up with a blanket ban on the market. They will either regulate the market and that is the best option to move forward.

[Sayeds56]

I don't think that BTC or ETH someday will replace fiat. first of all governments won't allow this to happen and common people don't like the volatility of cryptocurrencies. just imagine how the prices in supermarkets will change every day.

It is indeed difficult to replace, moreover its implementation will be very difficult and often experience ups and downs in the price of goods if the payment must be through BTC or ETH, because the basic measure or benchmark is Fiat in everyone's life.

True. Its not easy to replace fiat because the whole world depends on Fiat for day to payment of goods and services, import and exports payments and the Banking industry runs on Fiat currency for commercial and investment activities but with the passage of time people have started realizing that crypto is a better alternative for quick and low cost transactions.

 Weighing the advantages and disadvantages of cryptocurrency, one can say that there are several reasons why crypto can be considered superior to fiat. However, whether it will completely replace fiat currency backed by central banks or fiat currency backed by gold is too early to call. But, there are strong chances that cryptos like Bitcoin would be considered a credible alternative currency to the US dollar or other types of fiat money in the near future. 

https://nowpayments.io/blog/why-is-crypto-better-than-fiat

[kotajikikox]

Am not sure about the replacement but what I am sure of is that Bitcoin and Ethereum will be adopted in the future and may Line with Fiat.

first EL Salvador accepts bitcoin already as Fiat.

Second big companies like Paypal is accepting bitcoin.

and also there are many people from the pandemic effect enters crypto currency in their investmentz.

[wissy]

We already have signs of crypto usage in practice in El Salvador, which is a perfect example that everyday payments are doable.
In the last year, a lot of players entered in crypto debit card business which shows, people are willing to spend their crypto in for regular activities. Mostly the payment is still done in fiat, but the base is there. These are all signs, that people are ready to use fiat alternatives, and crypto has the biggest potential to takes that role.

[Capt00]

Because the price of bitcoin tends to climb, I believe that capital management is all that is required. I'm not sure if the government will replace currency in the future, but I believe bitcoin will continue to grow in popularity despite the fact that money exists.

[yehestielsiburian]

Bitcoin Replace Fiat?

I don't think that will happen. But what may happen in the future is Bitcoin can function like fiat and can be made for legal payments. Bitcoin and Fiat will coexist in the future

[geegaw]

We already have signs of crypto usage in practice in El Salvador, which is a perfect example that everyday payments are doable.
In the last year, a lot of players entered in crypto debit card business which shows, people are willing to spend their crypto in for regular activities. Mostly the payment is still done in fiat, but the base is there. These are all signs, that people are ready to use fiat alternatives, and crypto has the biggest potential to takes that role.

Listening to a signal from one side will not evaluate the possibility of replacement, especially this signal does not belong to user data, this data is just a factor called for by the media and government, listening to the most important side is still the people of EI Salvador, the government here is masking the people's opportunity to express themselves with additional policies and buying more bitcoin. Haven't heard any news that the people of EI Salvador are happy and what has leaked is just vandalism and protest

[Ozero]

Cryptocurrencies such as Bitcoin and Ethereum will not replace fiat currencies, and they will be used as reserve assets by more people.
Cryptocurrency is decentralized and is not regulated by the government. In contrast, people will trust the legal currency that is regulated and protected by the government more.
The price of cryptocurrency fluctuates greatly, and it is not suitable for currencies for daily transactions.
Under the trend of digital economy, many countries will develop their own digital currencies instead of using encrypted currencies.

Here, little depends on the wishes of individual people. Human society exists in the form of separate states and society does not yet know any other form of such a structure. For the normal functioning of the state and its economy, its own currency is needed. This is especially true if there are several competing, and even more so hostile states against each other. Therefore, states will not abandon their national currencies, and cryptocurrencies will circulate in society only along with national currencies. Only in the very distant future can something change.

[Abiky]

I don't think that BTC or ETH someday will replace fiat. first of all governments won't allow this to happen and common people don't like the volatility of cryptocurrencies. just imagine how the prices in supermarkets will change every day.

Governments will never allow crypto to take over Fiat. After all, they don't want to lose control over people's lives. Fiat is what makes the world go round, as it's backed by central banks and governments alike. It'll eventually evolve into a full-fledged digital currency, making crypto nothing more than a mere alternative financial system. I'm fine with that as long as crypto/Blockchain tech remains decentralized and censorship-resistant. With how everything's been going as of late, it seems that both Fiat and crypto will survive for many generations. Just my opinion

[adiebitsler]

Because the price of bitcoin tends to climb, I believe that capital management is all that is required. I'm not sure if the government will replace currency in the future, but I believe bitcoin will continue to grow in popularity despite the fact that money exists.

The government needs a more in-depth study of this if it wants to replace currency in the future because in society it is very common to use fiat and do not have serious problems so some say there is no need to make a change.

[meldrio1]

Well it may be the whole world using bitcoin and ethereum but I don't think this will replace fiat money because the cryptocurrencies are volatile and the government will not allow this to happen for sure. I believe that there are some people prefer fiat money because you know some people are not techy..

[Benefactor]

Most likely later on when world is brimming with innovation framework and all ought to be in computerized, advanced fiat will be utilized as they have full control about it. Individuals will in any case be utilizing the two yet bitcoin is a decent option particularly utilized by individuals that need protection and furthermore need there cash to increment in esteem instead of diminishing in esteem.

[Valak]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

If viewed from the total supply, maybe bitcoin is not enough to be used as a substitute for Fiat. If we share the total bitcoins with the entire world population, then each one only gets 0.002692 Bitcoin. That is, the amount is not enough to serve as currency in every person's wallet. But Ethereum has the ability in the context of mass adoption, because the Ethereum supply is also likely to increase, as has happened in previous years.
But what we should know is that Bitcoin can be used as a safe reserve of assets for everyone. Everyone who holds Bitcoin of course will not hesitate to lose even less than the amount they hold.

This is a huge misconception, economist make the same argument for gold, but gold was used for thousands of years and the world economies of the time ran above it, this just means that bitcoin will be incredibly valuable and that people will have to use mBTC or even lower denominations for their everyday purchases, I know this may seem impossible but I really think that is the world we are headed and I cannot wait for this to become a reality.

Indeed, the use of Bitcoin in small amounts can still be used, as using gold in small amounts (grams), even lower than grams, namely milligrams. If we look in the concept Bitcoin is satoshi for a smaller amount. But whether the small amount of Bitcoin can cover the transaction fees. For now, Bitcoin transaction fees are Bitcoin, as opposed to token transactions using the parent coin. I'm not talking about coins from the Bitcoin implementation. If we look at the implementation of Bitcoin, of course there are many other coins that are present today as alternatives.

[cafee_orange]

to replace fiat currency seems unlikely. but to be used as an online exchange tool, I think it should be legalized by many governments throughout the country considering today's technological developments in the digital era. In my opinion, it is not important for bitcoin and ethereum to replace Fiat currency, because there is something more important, namely the legalization of digital currency as an online transaction tool.

[PhucS]

to replace fiat currency seems unlikely. but to be used as an online exchange tool, I think it should be legalized by many governments throughout the country considering today's technological developments in the digital era. In my opinion, it is not important for bitcoin and ethereum to replace Fiat currency, because there is something more important, namely the legalization of digital currency as an online transaction tool.

I have the same opinion, it is very difficult for cryptocurrencies like Bitcoin or Ethereum to replace fiat currency. The value of cryptocurrency is always highly volatile, I think it is not suitable for use in daily life. However, we cannot deny their potential in the future. And as you said, it is more important to legalize cryptocurrencies in online transaction.

[dupee419]

crypto will replace fiat soon, cause now gen Z believes in crypto so hopefully, it will be replaced

That is not enough, even if us Gen Z believes in cryptocurrency and the future generations, it is still unlikely for BTC/ETH to actually replace fiat currency, they are invented for us to actually use them as a tool and not as our main asset, volatility will be our biggest problem, therefore, BTC nor ETH is viable to replace fiat currency, also, we need stability and consistency, and these are not the features that Bitcoin or Ethereum has, stablecoins may have a chance but what's the actual point of replacing something stable with something stable as well?

[leea-1334]

I have the same opinion, it is very difficult for cryptocurrencies like Bitcoin or Ethereum to replace fiat currency. The value of cryptocurrency is always highly volatile, I think it is not suitable for use in daily life. However, we cannot deny their potential in the future. And as you said, it is more important to legalize cryptocurrencies in online transaction.

The problem with people asking about crypto replacing fiat is that they cannot even look around themselves and see that they still need fiat to survive.

Look at us and our own examples,,, can we pay even our daily expenses with Bitcoin/Ether? And is it easy to do so? Even when it is legal tender like in El Salvador people are protesting because it is not easy to use and they do not understand it.

Not now and not for 20 years.

[tarable]

crypto will replace fiat soon, cause now gen Z believes in crypto so hopefully, it will be replaced

It will not be easy to happen because all countries are still happy to use fiat even though their citizens also like cryptocurrencies, so the implementation and implementation will be very different and it will also take a very long time if all countries want to apply it.

[Valak]

crypto will replace fiat soon, cause now gen Z believes in crypto so hopefully, it will be replaced

It is not as easy as we imagine, because they are the top brass in the country also get big profits with Fiat. The presence of crypto actually narrows their steps. Those who like to play with illicit money actually have no chance if crypto transactions run. We can see the amount of state spending because crypto is transparent. Meanwhile, with Fiat, the small community does not know about official transactions between countries.  This is what causes crypto legality to not run smoothly.
When it comes to the level of security in crypto, maybe everyone no longer doubts the security of crypto.

[Ever-young]

For me bitcoin and eth can not replace fiat any time soon, because this two tokens are not stable coins, and fiat are to be stable and not a token which price can drop at any time and rise at any time. I think the only way to make this possible is if the price can change and remain stable.

[Jaered]

For crypto to completely replace fiat is a tall order, to be honest. Crypto is still neophytic and volatile to be used as a legal tender and except Salvador, it would be difficult to adopt. Now if you're telling me it would be an alternative, I may agree with you since it can be a store of value.
Many countries are researching the CBDCs and such may take over fiat in the future, as from 2 years from now

[0verseer]

Bitcoin Replace Fiat?

I don't think that will happen. But what may happen in the future is Bitcoin can function like fiat and can be made for legal payments. Bitcoin and Fiat will coexist in the future

They can coexist but there will be always 1 much prefer over the other. Right now, even though Bitcoin become more and more popular, fiat is still being preferred. For some countries where their fiat is weak (Venezuela, El Salvador,...) bitcoin is a king. So yes, Bitcoin or Ethereum could replace a weak fiat someday.

[Anonymous100]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

If we say Ethereum is more feasible. Currently Ethereum transaction fees are a major complaint for traders. They cannot make transactions with low fees. Even though Bitcoin price is currently high, I think Bitcoin transaction fees are much lower compared to Ethereum. Bitcoin can make transactions for a fee of 10000 SATS, or about 5.7 USD. While the transaction fees on the Ethereum blockchain reach 0.002 ETH, or about 7 USD. As for token transactions, it reaches $20. So, how do you say that Bitcoin blockchain transaction fees are higher than Ethereum.

[cafee_orange]

to replace fiat currency seems unlikely. but to be used as an online exchange tool, I think it should be legalized by many governments throughout the country considering today's technological developments in the digital era. In my opinion, it is not important for bitcoin and ethereum to replace Fiat currency, because there is something more important, namely the legalization of digital currency as an online transaction tool.

I have the same opinion, it is very difficult for cryptocurrencies like Bitcoin or Ethereum to replace fiat currency. The value of cryptocurrency is always highly volatile, I think it is not suitable for use in daily life. However, we cannot deny their potential in the future. And as you said, it is more important to legalize cryptocurrencies in online transaction.

Currency is a symbol of a country and there is no possibility to replace it even though times are very modern and growing rapidly with technological advances. although for the future no country wants to replace its national symbol with ethereum and Bitcoin. As far as I know, cryptocurrency is to make it easier for all users to make transactions online and have no ambition to replace Fiat currency in a government. I think so.

[Kezacky]

In this case, I think the main point is that Anything can happen unexpectedly with regards to bitcoin/altcoins. moreover that the price movement of cryptoqurrency is very volatile which makes us think when we want to use Crypto as a means of transaction like paper currency in real life. another thought that what is the percentage for the calculation of transaction costs with the value of the related goods? and in essence I don't know what the future holds.

[bekti3]

to replace fiat currency seems unlikely. but to be used as an online exchange tool, I think it should be legalized by many governments throughout the country considering today's technological developments in the digital era. In my opinion, it is not important for bitcoin and ethereum to replace Fiat currency, because there is something more important, namely the legalization of digital currency as an online transaction tool.

I have the same opinion, it is very difficult for cryptocurrencies like Bitcoin or Ethereum to replace fiat currency. The value of cryptocurrency is always highly volatile, I think it is not suitable for use in daily life. However, we cannot deny their potential in the future. And as you said, it is more important to legalize cryptocurrencies in online transaction.

rather it is impossible, how they can replace the fiat that has been around for a long time.
even though they are very good at fundamentals and adoption does not mean they should be the main tool.
that's enough for now and they're just an option.

this would look nicer than requiring them to replace fiat. because technically there will be a lot of problems when this happens.

[mulia sabee]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

for now we can see many people who use ethereum and bitcoin in their transactions, but the transactions are made online not directly. from there we can see that the future of crypto is getting better and everyone tends to use it in their transactions. maybe, for the next few years Crypto will be used as a legal exchange tool online, able to pay for shopping online using Ethereum, btcoin or other currencies. This is very interesting in my opinion if there are special regulations from the governments of all countries

[hichamito37]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

The use of BTC and ETH in our daily life is becoming more and more common especially as BTC is used by more and more countries, but for BTC and ETH to replace fiat is difficult as you imagine. if transferring money from BTC wallet to BTC wallet the transfer fee is very expensive, when buying something only $10 how can it be paid with BTC or ETH, so I think BTC and ETH replacing fiat is very difficult , it can only exist together.

[V-t.Ester]

I don’t like this idea to replace fiat by BTC or ETH. BTC is very volatile, so before going to the shop you can see one  price but buy all your goods by totally another. It's just really uncomfortable. ETH has very high fees, that also make it bad for everyday transactions in shops. I think that if in this digital era if fiat will be replaced by some digital currency then it won’t be crypto at all. Maybe CBDCs or some other digital money can replace fiat but not crypto.

[Naficopa]

Bitcoin is the undisputed king of cryptocurrencies, but we must all admit that its only function is speculation. Obviously, popularity is very important, but unfortunately it lacks functionality. Ethereum with its smart contacts is gaining a very large part of the market, so in my opinion it is only a matter of time before Ethereum will overtake Bitcoin in the race for the crown.

[Luffygroove]

I think Bitcoin won't replace fiat because aside from the controversy (some countries support it, some banned it and some others still observe it) Bitcoin will always be blocked by those whose importance got disturbed. Many parties wish that Bitcoin got regulated, they hinder the Bitcoin domination. Furthermore, bitcoin saw more like digital assets as gold rather than payment tools. I don't know about ethereum, but I think it's just the same. It's more suitable seen as an asset because of its major utility, smart contract. Probably in the future, there's come a project that focusing itself as a payment tool as fiat, with supporting technologies behind it and people moved to use it in their real life. However, they'll face a big obstacle to do it for sure.

[gwdf1]

Actually, I don't think that the government will agree to lose its control over economic, so I don't think that authorities are likely to let crypto replace fiat. Bitcoin will be adopted more and more by different companies and countries, but I don't think that USD will disappear because of bitcoin. We see now that it comes to countries with weak economic such as Salvador, so it helps a lot them to cope with their hyperinflation, but talking about the whole world, I am not sure.

[budlo]

Now many people look at El Salvador and how everything works there and  i'm very glad that there is such an opportunity but so far it is not psychologically convenient for me to pay with bitcoin knowing that it will cost more in the future.
Perhaps i'll be comfortable spending bitcoins if i have a salary in bitcoins.

[Rishabh riyz]

Fiat currencies are never used as an investment people just use them In their own countries for buying selling in general as  mode of payment whereas BTC , ETH or any other crypto are not being used as a currency for exchange , they are just being used as assets
I mean yes they are used sometimes but when the values are at peak so that people can buy more with wasting less token who would want to waste more token like wouldnt people use BTC when its on $60 grand 
so I believe that cryptos cannot replace yes it can be used but not replace fiats at least until they get a non fluctuating or less fluctuating value.

[Rufsilf]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

It's very likely that most people in the future will get to use cryptos such as bitcoin and eth for daily basis or transactions if legal tender allows so. But I don't think that the fiat will be abandoned in the near future because even if the government allows its citizens to use the bitcoin or eth freely and legalize it, still fiat are gonna be their and the authorities will continously make it because it is backed and it has a real value. There are still citizens who favors fiat to trade or buy something physically like the commodities while also using btc as form of payment online.

[Devifajarina]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

There is an impact from every development made by bitcoin, and Ethereum, the different portion they targeted at the beginning of its emergence, Bitcoin at the time of its emergence even had a price that was nothing more than a meal in Italy, but over time, they were able to prove that process determination cannot separated from their own hard work, while Ethereum has differences with bitcoin, Ethereum is likely to be a more rational everyday use tool than bitcoin, given the lack of scarcity like bitcoin, and I agree with your statement, that buying USD is the best option in times of volatility high for countries at war.

[Sayeds56]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

Certainly Bitcoin and Ethereum will replace fiat currency but it will not happen so soon, it is an evolutionary process which takes time. The adoption of crypto is going on at very fast pace in USA and European countries but some developing countries are still hesitant to allow it to take its root in financial system becuase of fears of money laundering and they will lose control over money supply.

[domoy77]

To some extent we could say ether and bitcoin have already replaced the dollar. Digital assets have especially succeeded as a savings unit, the bail system works just as well gradually crypto values will be introduced with the real world and thus partially replace it and improve it hopefully.

I also hope that what you say can happen in the future, but every new thing that will be applied to all countries will always be not as easy as imagined even though Bitcoin and Ethereum have generally been good for more than a decade.

[budlo]

To some extent we could say ether and bitcoin have already replaced the dollar. Digital assets have especially succeeded as a savings unit, the bail system works just as well gradually crypto values will be introduced with the real world and thus partially replace it and improve it hopefully.

I also hope that what you say can happen in the future, but every new thing that will be applied to all countries will always be not as easy as imagined even though Bitcoin and Ethereum have generally been good for more than a decade.

I don't really believe in the introduction at the level of the national currency but at the level of the dollar in other countries it seems to me quite possible. In El Salvador bitcoin is a means of payment at the level of the state currency just because they do not have their own currency i don't think that this can be so in other countries.

[Devifajarina]

I don't really believe in the introduction at the level of the national currency but at the level of the dollar in other countries it seems to me quite possible. In El Salvador bitcoin is a means of payment at the level of the state currency just because they do not have their own currency i don't think that this can be so in other countries.

A person's level of trust largely depends on the understanding of the currency itself, but if that is the case the national currency is not a currency that is known to most people in the world, it is different from the dollar currency which is currently used in almost all countries, and it is impossible for El Salvador to use bitcoin as a medium of exchange in other countries, their use is very limited only in that country, and that's why I'm not so sure about the current situation they are developing.

[WeedGoW]

Bitcoin and Ethereum will never replace fiat. Both have gone way over trying to replace something like fiat and become more of its own over-the-internet currency, a cryptocurrency that has characteristics of high volatility and easy to transfer. Maybe before when replacing fiat mean good but as I see it, being something that stands out, unique is the better way to survive.

[DarkDays]

Bitcoin and Ethereum will never replace fiat. Both have gone way over trying to replace something like fiat and become more of its own over-the-internet currency, a cryptocurrency that has characteristics of high volatility and easy to transfer. Maybe before when replacing fiat mean good but as I see it, being something that stands out, unique is the better way to survive.

On a similar stand point here, the volatility of either BTC or ETH is just not making this fantasy a reality.

For everyday payments there needs to be something that's stable and doesn't fluctuate much. Stable coins, the underlying stability of crypto could be a great example but whichever one might win in this is hard to say.

[ardydyon]

in my opinion BTC seems to be difficult to become a means of daily payment.
when viewed from most countries that reject the existence of BTC which is used as a daily payment instrument in the country.
currently there is only 1 country that recognizes the existence of BTC.
if BTC is recognized by the whole world and can be used as daily transactions, btc transaction fees are still relatively expensive.
this becomes a problem when we make transactions because the sender's btc will be deducted from a fairly large administrative fee.
if this could be fixed making the fees cheaper or maybe no transaction fees this would allow btc to become primary fiat.
eth also actually has the same problem with btc, but eth has a lot of big projects that can develop to be better than btc.
In addition, the volatility of btc and eth is high when compared to USD which is relatively stable.
so there are still many people who will choose USD.

[abralzain17]

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

I think it might happen, but the problem is "does the government in a country want to accept Crypto to replace a country's symbol, which is to replace currency"?. I think that is the problem that Crypto Btc and Ethereum cannot replace a country's Fiat currency.

[susuberuang]

I think it might happen, but the problem is "does the government in a country want to accept Crypto to replace a country's symbol, which is to replace currency"?. I think that is the problem that Crypto Btc and Ethereum cannot replace a country's Fiat currency.

That's a very difficult thing to replace because it still needs special negotiations by all parties involved in the government in a country, because every country also has laws that have been written neatly and have also been implemented by all of its residents, so when there is a change or mutations in finance, then this will cause confusion in rural communities who are not familiar with Bitcoin and Ethereum.

[abralzain17]

I think it might happen, but the problem is "does the government in a country want to accept Crypto to replace a country's symbol, which is to replace currency"?. I think that is the problem that Crypto Btc and Ethereum cannot replace a country's Fiat currency.

That's a very difficult thing to replace because it still needs special negotiations by all parties involved in the government in a country, because every country also has laws that have been written neatly and have also been implemented by all of its residents, so when there is a change or mutations in finance, then this will cause confusion in rural communities who are not familiar with Bitcoin and Ethereum.

Yes, it's true, it seems that in terms of replacing a currency in a country, it is not enough to just negotiate in parliament !!, but there must be many parties involved in it and there will be controversy, this is part of several reasons that will not materialize to replace Fiat currency . let alone replace it with Crypto, it won't run smoothly at all because of the Fluctuations that Crypto has.

[scorpiokk]

I don't think USD is going anywhere. It's more likely for crypto, and I don't know which one will take the lead, to replace all currencies around the world. If that happens then crypto can thrive. I don't think this is likely to happen anytime soon though. One of the very important things that still need to be solved (and no that's not energy consumption) is how taxation is going to work. The rich will still find ways to doge taxes, but government can't afford to lose those middle class taxes. Thats what I think anyway.

To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think

[Abiky]

On a similar stand point here, the volatility of either BTC or ETH is just not making this fantasy a reality.

For everyday payments there needs to be something that's stable and doesn't fluctuate much. Stable coins, the underlying stability of crypto could be a great example but whichever one might win in this is hard to say.

Volatility and the fact that governments won't give away their control over people's money, will ultimately "kill" crypto's dream of replacing Fiat. Stablecoins cannot replace Fiat as they rely on it to maintain their peg. They're essentially Fiat but digitized. A sovereign currency would be an ideal candidate to Fiat's replacement. But I seriously doubt it, since banks have been in power for too long. As long as governments rely on banks to issue Fiat currencies nationwide, crypto will only remain as an alternative payment system for the unbanked. I'm fine with that as long as people have a choice. I see a future where both Bitcoin and ETH will live alongside existing Fiat currencies in the mainstream world. Just my thoughts

[jeungo]

I'm afraid this is an unlikely scenario, because there are too many rich people now in fiat money, and it is doubtful to imagine that these giants will cede their throne to the crypto world. But if they themselves begin to strengthen the cool currency industry, then there is a scenario.

[perfect999]

In the online world nothing is possible but bitcoin/Eth replacing fiat will take a long time because it has to adapt to existing rules, fiat is currently used in real transactions around the world while bitcoin and Eth are only digital currencies that can be traded. use it in online form only so it's very much different if we synchronize to replace it even though it seems that the movement has seen many countries have accepted bitcoin as a transaction tool

Even we are going all online but still it is not possible because we all know Bitcoin/Ethereum both are some complicated things and have serious issues, just because of this they can't replace fiat in long run future. Mostly governments have good benefits from centralized things and this crypto is completely decentralized which is not helpful for them, so they never allowed this all.

Fiat is not at all easy to replace which means replacing the central banking system globally which is not easy thing for many countries due to some serious issues and regulations which are completely different in many regions. Bitcoin has potential and will be seeing adoption soon, but fiat will also be in use as it is working currently around the globe.

[matchi2011]

In the online world nothing is possible but bitcoin/Eth replacing fiat will take a long time because it has to adapt to existing rules, fiat is currently used in real transactions around the world while bitcoin and Eth are only digital currencies that can be traded. use it in online form only so it's very much different if we synchronize to replace it even though it seems that the movement has seen many countries have accepted bitcoin as a transaction tool

Even we are going all online but still it is not possible because we all know Bitcoin/Ethereum both are some complicated things and have serious issues, just because of this they can't replace fiat in long run future. Mostly governments have good benefits from centralized things and this crypto is completely decentralized which is not helpful for them, so they never allowed this all.

Fiat is not at all easy to replace which means replacing the central banking system globally which is not easy thing for many countries due to some serious issues and regulations which are completely different in many regions. Bitcoin has potential and will be seeing adoption soon, but fiat will also be in use as it is working currently around the globe.

The main fact that the government are still in control with fiat system and most of those rich business
owners continue to support fiat, it will be hard for bitcoin or Eth to replace the old generation system,
but, future is not ours to conclude we don't know what's playing inside those big players / whales, maybe
they are also considering this system, we already have them inside the market, institutional investors are
investing now with crypto we never know what are the plans behind.

[Karen2@]

I think that we will never see this happening. But they will be preferred at a really high rate in the future also. Digital currencies that will be developed by governments will take fiat's place.

[dimox]

In the online world nothing is possible but bitcoin/Eth replacing fiat will take a long time because it has to adapt to existing rules, fiat is currently used in real transactions around the world while bitcoin and Eth are only digital currencies that can be traded. use it in online form only so it's very much different if we synchronize to replace it even though it seems that the movement has seen many countries have accepted bitcoin as a transaction tool

Even we are going all online but still it is not possible because we all know Bitcoin/Ethereum both are some complicated things and have serious issues, just because of this they can't replace fiat in long run future. Mostly governments have good benefits from centralized things and this crypto is completely decentralized which is not helpful for them, so they never allowed this all.

Fiat is not at all easy to replace which means replacing the central banking system globally which is not easy thing for many countries due to some serious issues and regulations which are completely different in many regions. Bitcoin has potential and will be seeing adoption soon, but fiat will also be in use as it is working currently around the globe.

im not sure if bitcoin and other can replace fiat, because government will take it to control the number one. and there the other effect because crypto have volatile value.
and this adoption will make people think to how to make money, than use it as what it want.

[nekorakoeora]

It will be difficult for cryptocurrencies to replace fiat. In order for cryptocurrencies such as bitcoin and ethereum to be widely accepted, there must at least be legitimacy from governments that create price stability and allow for a global reach of cryptocurrencies that can actually be used as a means of payment. But until now, fluctuations have become a frightening and unavoidable thing.

[CDC AP]

After I researched it seems that bitcoin and altcoins will not be able to replace real currencies. Cryptocurrencies can only be used as counterparts to real currencies. We can use cryptocurrencies and real money both as a means of payment but cryptocurrencies cannot be used in all countries and only a few trading places accept cryptocurrencies as a means of payment.
In general, people prefer real money as a means of payment because real currency prices are more stable than cryptocurrencies.

[Mamun74]

I think, it will be tough for cryptocurrencies replace fiat.I Think many Government get good profit from centralizeed cryptos. At first need to government want to accept crypto. If Bitcoin and Etherum will be replace fiat but i Think it is not possible to soon.Bitcoin and Ethereum are already complicated this.

[Oilacris]

After I researched it seems that bitcoin and altcoins will not be able to replace real currencies. Cryptocurrencies can only be used as counterparts to real currencies. We can use cryptocurrencies and real money both as a means of payment but cryptocurrencies cannot be used in all countries and only a few trading places accept cryptocurrencies as a means of payment.
In general, people prefer real money as a means of payment because real currency prices are more stable than cryptocurrencies.

As it should be because it was created solely to be having that revolutionary peer to peer transaction without 3rd party intervention and it was never intended to replace up main fiat currency and even if

they do intend to try then it cant really be possible because government itself wont really be that allowing for this thing to happen.Decentralization is something revolutionary but its totally opposing on

what government do really like which simply shows up on that its really impossible for it to happen no matter what.It could be an option though according to personal preference which is great.

[herurist]

In the online world nothing is possible but bitcoin/Eth replacing fiat will take a long time because it has to adapt to existing rules, fiat is currently used in real transactions around the world while bitcoin and Eth are only digital currencies that can be traded. use it in online form only so it's very much different if we synchronize to replace it even though it seems that the movement has seen many countries have accepted bitcoin as a transaction tool

Even we are going all online but still it is not possible because we all know Bitcoin/Ethereum both are some complicated things and have serious issues, just because of this they can't replace fiat in long run future. Mostly governments have good benefits from centralized things and this crypto is completely decentralized which is not helpful for them, so they never allowed this all.

Fiat is not at all easy to replace which means replacing the central banking system globally which is not easy thing for many countries due to some serious issues and regulations which are completely different in many regions. Bitcoin has potential and will be seeing adoption soon, but fiat will also be in use as it is working currently around the globe.

The main fact that the government are still in control with fiat system and most of those rich business
owners continue to support fiat, it will be hard for bitcoin or Eth to replace the old generation system,
but, future is not ours to conclude we don't know what's playing inside those big players / whales, maybe
they are also considering this system, we already have them inside the market, institutional investors are
investing now with crypto we never know what are the plans behind.

Despite all that I still like bitcoin and eth being an alternative here.
as you said there are still many people who support diat and fiat is still a very strong one for now, on the other hand this I don't think is a problem because indeed crypto especially for btc and eth will still be able to continue to grow.
on the other hand I don't really care whether they will be used as legal tender or not because indeed I will still use these even if they are not legal tender and are only options.
the most important thing for now is that they need recognition from all parties, especially the government in order to facilitate adoption

[LUCKMCFLY]

This is a very controversial issue, because everyone wants mostly that FIAT money is replaced by fiat, but I see that this is something that is not necessary, both Crypto BTC / ETH can be very well supported with FIAT money, both represent money, they do not need to see which is better or which is worse, in fact in a moment that FIAT disappears, I think that the only way that BTC, ETH can be quoted would be with gold, if it is gold if it can be given, the rest I think both fiat and crypto are required. When in crypto we do not refer to immediate payments, it is where it is superior to fiat, because with crypto there is no need to see how much you can send, it is no longer necessary to ask the banks for permission, I think this is one of the reasons why which many want the FIAT money to disappear.

[oemar bakrie]

something like that will happen if the government begins to believe that crypto is a legal payment in every country, especially in terms of small-level payments in those who don't necessarily understand bitcoin because there must be socialization and learning to the wider community, most of which arestill under technology..

[AlexSnowSnow]

It is too difficult, the world economy is too complex, it is difficult to call any currency stable at all, and many people still simply do not trust cryptocurrency.
This mistrust is promoted by conservatism and the "dark" side of cryptocurrencies, this is my opinion.

[ansarose1]

Bitcoin/eth or any other cryptocurrency could replace fiat someday in a sense that if in the future has to do without using money, it's possible to use cryptocurrency since we are in a digital world and many stuffs could be bought easily with these digital cryptocurrency. So i definitely think it is possible. But we should also think that we would having some disadvantage for not using fiat because using digital currency may take some fees for a transactions, unlike using fiat.

[Russlenat]

something like that will happen if the government begins to believe that crypto is a legal payment in every country, especially in terms of small-level payments in those who don't necessarily understand bitcoin because there must be socialization and learning to the wider community, most of which arestill under technology..

When we speak of government, their interest is to protect fiat as they are the ones who print money which they cannot do when bitcoin will become more adopted than fiat, so it's not gonna happen since the world we are living in is centralized and govern by officials we elected. Bitcoin has a limitation only and it's mostly used for investments and limited types of transactions only.

[Dr.Osh]

When we speak of government, their interest is to protect fiat as they are the ones who print money which they cannot do when bitcoin will become more adopted than fiat, so it's not gonna happen since the world we are living in is centralized and govern by officials we elected. Bitcoin has a limitation only and it's mostly used for investments and limited types of transactions only.

After all, the most basic thing is, the government needs to control all economic activities in a country, and bitcoin cannot be controlled by anyone. the country's economic system is centralized, and bitcoin is decentralized. if there is development and support from a government for bitcoin, it is used as bitcoin as a legal payment alternative in that country. however, for now, very few are implementing it.

[Kodok Bencot]

Of course not, fiat will continue to be the first choice because the government does not want finance and the economy to go into uncertainty, there are many things that bitcoin or other cryptocurrencies cannot do, for example, is for fast transactions, while cryptocurrencies are very dependent on the internet so without internet of course crypto cannot be used.