Will Bitcoin/ETH replace fiat someday?

[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.

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[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.