Will Bitcoin/ETH replace fiat someday?

[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.