Will Bitcoin/ETH replace fiat someday?

[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.

[1714888938]

1714888938

[1714888938]

1714888938

[1714888938]

1714888938

[1714888938]

1714888938

[1714888938]

1714888938

[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.