Will Bitcoin/ETH replace fiat someday?

[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.

[1714891175]

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[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.