Will Bitcoin/ETH replace fiat someday?

[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.