Replacement?

[cydrix]

Not yet, as long as fiat continues to exist in every nation on the planet. Even while several nations now accept payments in the form of Bitcoin or other cryptocurrencies, money will still be the primary means of exchange for all transactions. But I already have the impression that the two go hand in hand right now. They are learning about the attempts made by several nations to have CBDC immediately in the context of varied economic restrictions. The CBDC convention is disapproved by some nations.

[serveria.com]

I have been seeing the progress of cryptocurrency these past few years, and I've been thinking, will it definitely be a replacement for physical money and use crypto as a primary transactions in our everyday life?

FIAT money will eventually be replaced with digital FIAT. Bitcoin will be used like it's used today: investment, hedge, HODLing but on a much bigger scale, it will become more widespread imo.

[tjtonmoy]

It is already a world currency (not all crypto but BTC). We can see much progress and adoption all over the world now and then. But people's opinion will always remain different from each other. Some are positive and some are negative. So it is not possible to tell 100% accurately that Bitcoin will replace the fiat money system. Because there will always be a group of people who will stand against this concept. They will choose the fiat money system over crypto.
Both can co-exist at the same time. This will create a more friendly environment amongst the users. People can use whatever they prefer. But maybe one day it is possible to see the crypto as a replacement for traditional fiat money.

[MFahad]

Bitcoin is a trustable coin but it does not mean that by spreading bitcoin all over the world the paper money will loss its value. The value of paper money cannot be changed and bitcoin and paper money both have their own use cases and both cannot replace one another. paper money is acceptable throughout the globe but bitcoin is somewhat risky so I think paper money will sustain its beneficial role in economic system of a country. There is no possibility of altering the value of paper money so bitcoin is unable to replace it.

[smile1218]

I have been seeing the progress of cryptocurrency these past few years, and I've been thinking, will it definitely be a replacement for physical money and use crypto as a primary transactions in our everyday life?

Maybe in the future, but not soonest it would take a very long time for all the people to able to adopt in using and transacting crypto currencies. We can see progress now in crypto currencies now but how many percentage of the people do know how to use it? The physical money cannot easily be replaced because a lot of people are still comfortable using it and it would depends on the government if they will adopt it 100%.

[fullhdpixel]

I don't think it's easy for the crypto industry to get that far, but it's the digital concept that will be imitated, regarding the issue of decentralization, I think it's still difficult to implement.
other things that may be imitated, but it is the concept of decentralization that banks and the government do not want to implement.

To imitate the digital concept? What do you mean by that? Is it the CBDC? And this will be the one that will be used as a replacement for fiats? This is more possible because they hardly have any differences. CBDCs don't have a limited supply and then they don't fluctuate that much like a typical crypto.

There is no need for the banks and governments to imitate decentralization. Remember they hate it right from the start because this makes the cryptos uncontrollable and this is why they create their own version of crypto which are centralized. It might still take time for the whole to convert into digital so let's not worry about this for a while.

[Wend]

Not yet, as long as fiat continues to exist in every nation on the planet. Even while several nations now accept payments in the form of Bitcoin or other cryptocurrencies, money will still be the primary means of exchange for all transactions. But I already have the impression that the two go hand in hand right now. They are learning about the attempts made by several nations to have CBDC immediately in the context of varied economic restrictions. The CBDC convention is disapproved by some nations.

Even if fiat is phased out, there is no guarantee that cryptocurrencies will replace fiat. This world is controlled by governments, as long as they exist, bitcoin will never be an option because they will never allow something decentralized to break their centralized system. I still believe that in the future, the fiat system will be replaced or upgraded but with a system created and controlled by them, not bitcoin.

[Huppercase]

Not yet, as long as fiat continues to exist in every nation on the planet. Even while several nations now accept payments in the form of Bitcoin or other cryptocurrencies, money will still be the primary means of exchange for all transactions. But I already have the impression that the two go hand in hand right now. They are learning about the attempts made by several nations to have CBDC immediately in the context of varied economic restrictions. The CBDC convention is disapproved by some nations.

Bitcoin is hard for some people to use, I mean normal people find it hard to use like the normal money because they are used to Fiat already, but the digitalization is changing things gradually but even with that, everybody will not use bitcoin. I personally don't think BTC is a good replacement of Fiat because I don't know we are going to handle our value when the it crash the way it use to do every 4 cycle halving, it will kill the economy very fast as some people might think, some people that are asking BTC to be used as mode pf payment are selfisly doing it for their own sake, they don't care if it affect economy or not, they only want te news to pump there bags.

[Dunamisx]

I have been seeing the progress of cryptocurrency these past few years, and I've been thinking, will it definitely be a replacement for physical money and use crypto as a primary transactions in our everyday life?

As time goes on it may replace all forms of money but before then, we have to accept the use of the two altogether till when we get to that stage, also we need to clarify this that not all cryptos will probably be acceptable as currency for payment by then, because bitcoin is the only reliable cryptocurrency that everyone accepts for an exchange or payment of goods and services while some countries adopting it as their legitimate legal tender along with usd, so i can only say that we are getting closer to that time but not yet into it and bitcoin is fast growing.

[reagansimms]

I have been seeing the progress of cryptocurrency these past few years, and I've been thinking, will it definitely be a replacement for physical money and use crypto as a primary transactions in our everyday life?

There are positive and negative sides if Cryptocurrency replaces physical money as the main transaction tool in human life. On the downside, due to volatility, prices can change at any time, which can have a significant adverse impact on economic and financial stability. While on the positive side Cryptocurrency has unlimited potential, for example as experienced by the people of Ukraine when Russia invaded their country. Some of them are very aware of the functions and uses of Cryptocurrency, those who switch or store their wealth in Cryptocurrency can still survive with the wealth they have in the form of crypto assets.

The realization of Cryptocurrency as the main transaction tool in everyday life depends on government policy. In the country where I live there are no signs from the government that cryptocurrency will replace physical money, instead the government makes Cryptocurrency a Commodity Traded on Futures Exchanges and the government has benefited from taxes taken on every transaction.

[BVeyron]

I have been seeing the progress of cryptocurrency these past few years, and I've been thinking, will it definitely be a replacement for physical money and use crypto as a primary transactions in our everyday life?

In a couple of decades much of the world's physical money was replaced with digital money, so the replacement has already started. Now the main problem with cryptocurrency is the status of already created cryptocurrencies: will they replace fiat money, or will fiat money controlling structures ban them and later adopt the technology of decentralised blockchain storage in order to improve the stability of digital fiat money systems...

[Smartvirus]

I have been seeing the progress of cryptocurrency these past few years, and I've been thinking, will it definitely be a replacement for physical money and use crypto as a primary transactions in our everyday life?

Do we hope to live in a nation without borders some day? Or
Have some global system of governance?

If the answers to these are "NO", then there isn't any chance that we would have bitcoin or any other cryptocurrency out there to replace fiat. Fiat is very much government product and a very vital tool to centralisation as some way go ensure they maintain some control over its citizens.

Besides, bitcoin has got some downsides to it of which, fiat very much compliments or perhaps I should say fiat came into existence before bitcoin so yeah. There are times when you don't just have any need for digitalism and that's where hard currencies come in. Fiat and bitcoin working together is our best bet for the future.

[odunybiz]

This is what will generally happen in some years time. Some countries has adopt Bitcoin as a means of making payment and I believe the list will keep increasing till the whole world make it an acceptable means of payment.

It was only about time for all countries to eventually adopt Bitcoin like some countries are already doing now. Because when all countries have really analyzed Bitcoin and it has not harmed the country, Bitcoin adoption will continue to increase over time. In addition, several large companies have also accepted Bitcoin for payment so that Bitcoin payment services are currently starting to penetrate more widely.

I see Bitcoin as a general currency that will later be used by the whole world for transaction. This is just a matter of time. 5 years ago, how many people know about Bitcoin? That's to tell us Bitcoin is moving gradually to the point of becoming a universal currency.

[Lorence.xD]

This is what will generally happen in some years time. Some countries has adopt Bitcoin as a means of making payment and I believe the list will keep increasing till the whole world make it an acceptable means of payment.

It was only about time for all countries to eventually adopt Bitcoin like some countries are already doing now. Because when all countries have really analyzed Bitcoin and it has not harmed the country, Bitcoin adoption will continue to increase over time. In addition, several large companies have also accepted Bitcoin for payment so that Bitcoin payment services are currently starting to penetrate more widely.

I see Bitcoin as a general currency that will later be used by the whole world for transaction. This is just a matter of time. 5 years ago, how many people know about Bitcoin? That's to tell us Bitcoin is moving gradually to the point of becoming a universal currency.

In just a few decades Bitcoin would be acceptable transactions around the world since many countries already acknowledge the existence of Bitcoin. But before that to happen, of course it would affect the economic situation of one country as they prefer already the alternative currency which is the Bitcoin. People wouldn't even use fiat if Bitcoin is the first preferred currency which might impact a lot of country to their economic status. But for sure government would take action from it, as I said there's already countries that are open to BTC and still have a stable economic status.

[smile1218]

I have been seeing the progress of cryptocurrency these past few years, and I've been thinking, will it definitely be a replacement for physical money and use crypto as a primary transactions in our everyday life?

I agree with you that crypto currency had made a great progress, but certainly it is difficult to predict the future although we know that the crypto currency has the potential to become a widely accepted form of payment in the future. Even crypto currencies are popular now, not everyone do know how to use it and they are skeptical on how to use crypto currencies. From the time being physical money would still remains to be seen and will see what will happen in the future if the crypto currencies will truly replace the physical money.

[Vishnu.Reang]

While I am not so particular about the dominance of cryptocurrency over fiat, In my opinion it's not really possible to fully replace paper money by bitcoin. As compare with past bitcoin increase in value over time but side by side Paper money never loss it's value they both have their equal importance in their own place. They can't replace each other but it can be good alternative for each other. Nothing is much more good alternatives then cryptocurrency because it is decentralize and secure in nature.

[Iadegbola34]

Cryptocurrencies have shown progress, but it remains uncertain if they will fully replace physical money. Challenges like scalability, regulation, and government acceptance play significant roles. While they offer benefits like faster transactions and increased security, their widespread adoption is influenced by various factors.

[DiMarxist]

Bitcoin is moving steps-by-steps to the point of becoming a universal currency. Bitcoin is the first preferred currency which might impact a lot of country to their economic status. But for sure government would take action from it, as I said there's already countries that are open to BTC and still have a stable economic status. Cryptocurrency as the main transaction tool in everyday life depends on government policy. In the countries where we lived there are no signs from the government that cryptocurrency will replace physical money, but I still believe in the future, the fiat system will be replaced by Bitcoin. Because everyday the technology is upgrading and the technology is getting stronger. And before that time many younger ones and youths are also more dipper in Bitcoin investments, you know the old would not rule forever.

[Oilacris]

Not yet, as long as fiat continues to exist in every nation on the planet. Even while several nations now accept payments in the form of Bitcoin or other cryptocurrencies, money will still be the primary means of exchange for all transactions. But I already have the impression that the two go hand in hand right now. They are learning about the attempts made by several nations to have CBDC immediately in the context of varied economic restrictions. The CBDC convention is disapproved by some nations.

Bitcoin is hard for some people to use, I mean normal people find it hard to use like the normal money because they are used to Fiat already, but the digitalization is changing things gradually but even with that, everybody will not use bitcoin. I personally don't think BTC is a good replacement of Fiat because I don't know we are going to handle our value when the it crash the way it use to do every 4 cycle halving, it will kill the economy very fast as some people might think, some people that are asking BTC to be used as mode pf payment are selfisly doing it for their own sake, they don't care if it affect economy or not, they only want te news to pump there bags.

Its not actually hard, it is really just that like on making those casual or traditional online banking transaction but with Bitcoin it is really that a on a decentralized way on which it would really be totally
different. Its not hard to learn up because even with just knowing with the basics then you could completely be able to understand on how it works and how it would really be able to make transactions.
Speaking about being replacement of fiat then it is really that impossible. Why? Here's the reason.

1.  Government wont let fiat would cease to exist.
2.  Fees arent something could compete with fiat
3.  Reversible transactions
4.  Centralized
5.  Stable

We know that Bitcoin or crypto is really totally opposing those key points above.

[Baoo]

From my perspective, I totally doubt if Bitcoin or generally Cryptocurrencies will replace FIAT in the near future. As you see the governments and banks are still against digital currencies and they are attempting so hard to break the market down specifically Bitcoin due to the whole market is dependent by it. In addition to that, the crypto could be an alternative but not a replacement of FIAT currencies at this moment. The global economy would be in danger if it happens. Are the governments able to track billions of transactions? Absolutely not. Additionally, It will probably be achieved depending on Bitcoin’s development in next years although in long term maybe in 2030 or 2035.