Replacement?

[Vishnu.Reang]

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.

Well, Fiat currency prices and value are generally more stable than cryptocurrency along with this we cannot underestimate the power and value of cryptocurrency. Most of the Country is trying to  replace cryptocurrency by fiat but it is still very far away because Cryptocurrency is still new, so it may turn out to be as stable as fiat in the future. I personally don't think it will be able to fully eradicate fiat but rather I believe both cryptocurrency and fiat will be used together, getting the same recognition and adoption.

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[Argoo]

Well, Fiat currency prices and value are generally more stable than cryptocurrency along with this we cannot underestimate the power and value of cryptocurrency. Most of the Country is trying to  replace cryptocurrency by fiat but it is still very far away because Cryptocurrency is still new, so it may turn out to be as stable as fiat in the future. I personally don't think it will be able to fully eradicate fiat but rather I believe both cryptocurrency and fiat will be used together, getting the same recognition and adoption.

Cryptocurrency will definitely not be able to replace the national currencies of states. Without the decision of the states themselves, such a replacement is impossible, and the states will never give up their currency, since their economy is firmly connected with them. Cryptocurrency still has a long way to go in terms of development and acceptance, but it will most likely only be an alternative to fiat, as was intended when it was created.

[CageMabok]

Cryptocurrency will definitely not be able to replace the national currencies of states. Without the decision of the states themselves, such a replacement is impossible, and the states will never give up their currency, since their economy is firmly connected with them. Cryptocurrency still has a long way to go in terms of development and acceptance, but it will most likely only be an alternative to fiat, as was intended when it was created.

Completely replacing it is indeed not possible because fiat has been around for a very long time in the community and has been used for a long time as well in paying for everything that is needed by the community. But if it becomes an option that is almost like fiat, I think it is still very possible because Cryptocurrency also has value and also has uniqueness as a digital currency. So making it an alternative when someone doesn't have money is also not wrong, because even if no one wants to receive it directly in life, everyone can also exchange it first into fiat.

[Litzki1990]

Bitcoin will not be used as a substitute for physical money, but as an alternative to physical money. Because while large amounts of physical money cannot be carried, bitcoins can be easily carried. And Bitcoin is easy and safe to carry. 

This is what El Salvador is currently doing. Bitcoin is accepted there as well as their currency. And Bitcoin is being used as an alternative medium of transaction in various sections. Direct transactions are being done through Bitcoin in coffee shops, sealing stations, various restaurants. It is hoped that such a transaction system will be launched worldwide in the future.

[fuguebtc]

Bitcoin will not be used as a substitute for physical money, but as an alternative to physical money. Because while large amounts of physical money cannot be carried, bitcoins can be easily carried. And Bitcoin is easy and safe to carry. 

This is what El Salvador is currently doing. Bitcoin is accepted there as well as their currency. And Bitcoin is being used as an alternative medium of transaction in various sections. Direct transactions are being done through Bitcoin in coffee shops, sealing stations, various restaurants. It is hoped that such a transaction system will be launched worldwide in the future.

But El Salvador has accepted bitcoin as a legal currency because they have no national currency, they use USD as national currency. Moreover, the fact that they accept bitcoin is because the country is on the verge of default, and bitcoin can be said to be the last solution they can think of.
I don't know how bitcoin grows there, but from what I see, the president of El Salvador is just using bitcoin for investment rather than seeing it as an alternative to USD. So I don't think other countries will follow their actions, this year, we haven't seen a single country accept bitcoin as a legal tender method.

[Mauser]

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 30-50 years, but not right now. The first step would be to get rid of physical cash and only use electronic money, the second step would then be to switch from fiat money to crypto currencies. The problem is that already the first step can't be done in a few years and will take probably 15 years. If I look at my grandmother for example, she only uses cash. All the banking and using her cards is done by my uncle, without cash she would be lost. I think that most elderly people can't be forced to stop using cash, and the politicians won't push it as they are afraid to lose the votes. With the second step to switch to cryptos it would be difficult to get all people to adopt them. If I look at my parents, they have heard of bitcoin but never owned any and are quite sceptical to use them.

[Smartprofit]

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 30-50 years, but not right now. The first step would be to get rid of physical cash and only use electronic money, the second step would then be to switch from fiat money to crypto currencies. The problem is that already the first step can't be done in a few years and will take probably 15 years. If I look at my grandmother for example, she only uses cash. All the banking and using her cards is done by my uncle, without cash she would be lost. I think that most elderly people can't be forced to stop using cash, and the politicians won't push it as they are afraid to lose the votes. With the second step to switch to cryptos it would be difficult to get all people to adopt them. If I look at my parents, they have heard of bitcoin but never owned any and are quite sceptical to use them.

Satoshi Nakamoto actually launched the evolution of digital money. 

Of course, this great cypherpunk and libertarian did not plan to create Central Bank Digital Money (CBDC).  However, the success of Bitcoin, Ethereum and other cryptocurrencies prompted the powers that be to decide on the introduction of such a financial instrument as CBDC into circulation. 

Currently, government officials deny that the CBDC will replace cash and all other forms of fiat money.  However, most likely it is. 

Using the example of China, we can conclude that CBDC is an integral and very necessary element of a digital concentration camp.  In my opinion, CBDC is a very strong competitor for cryptocurrencies. 

After all, the introduction of CBDC is supported by the state.

[Dzwaafu11]

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?

It could happen in many people's lives, but I still don't think that physical money will be forgotten by many people even though one day cryptocurrencies can replace traditional transactions that are often carried out by fiat money.

Until now I only thought that cryptocurrency was just an additional currency that could be used by many people in ways and methods that were different from fiat money. So what you are asking is indeed very possible, but to replace physical money, the progress of cryptocurrency needs to cover every corner of the world, including remote areas that currently still rely heavily on fiat money.

Do you know that bitcoin cannot be used by uneducated people, so I doubt if bitcoin can replace physical money because there are people doing business and they are not educated to use even banks, so let's not talk about bitcoin because we all know bitcoin must be used digitally, so I believe it can only be used as another way of transactions When banks fail to achieve what we desire.

These methods can be applied to Nigeria, where banks where refuse to put money in ATMs for people to withdraw cash, so you can see that if bitcoin is well adopted by then it will be easy for people who believe in bitcoin to use it for their transactions until the cashless period has ended.

[Wong Gendheng]

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?

Of course it still takes a long time to be able to say that crypto is a substitute for physical money, especially now that the biggest challenge is that there are still many countries that are banned cryptocurrencies, but I'm sure even though cryptocurrencies are very popular, it will never be able to replace Fiat and the government will protect Fiat.

[Fredomago]

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?

It could happen in many people's lives, but I still don't think that physical money will be forgotten by many people even though one day cryptocurrencies can replace traditional transactions that are often carried out by fiat money.

Until now I only thought that cryptocurrency was just an additional currency that could be used by many people in ways and methods that were different from fiat money. So what you are asking is indeed very possible, but to replace physical money, the progress of cryptocurrency needs to cover every corner of the world, including remote areas that currently still rely heavily on fiat money.

Do you know that bitcoin cannot be used by uneducated people, so I doubt if bitcoin can replace physical money because there are people doing business and they are not educated to use even banks, so let's not talk about bitcoin because we all know bitcoin must be used digitally, so I believe it can only be used as another way of transactions When banks fail to achieve what we desire.

These methods can be applied to Nigeria, where banks where refuse to put money in ATMs for people to withdraw cash, so you can see that if bitcoin is well adopted by then it will be easy for people who believe in bitcoin to use it for their transactions until the cashless period has ended.

Indeed right, it can be a good alternative when banks or the primary financial institutions failed to provide the service that is being need by the people, but on the OP sentiment, I don't see it yet as there are many factors that still avoiding many people to start learning and using this system, some might don't have that capability to understand while for most they are doubting the system.

They are not willing to take the risk with a potential big losses due to heavy volatility in this industry. Conservatives will continue to use physical fiat currency as a main channel of their transactions.

[S A KHAIR]

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?

Of course it still takes a long time to be able to say that crypto is a substitute for physical money, especially now that the biggest challenge is that there are still many countries that are banned cryptocurrencies, but I'm sure even though cryptocurrencies are very popular, it will never be able to replace Fiat and the government will protect Fiat.

As some have said, that happens if the government finds a way to control bitcoin in the future. While there is currently no way for them to control it, the future is difficult to predict as technology always evolves. But if they controlled it, we wouldn't need it either, because once bitcoin becomes centralized, it's no different from their fiat currency. So I don't expect them to be able to control it, and it doesn't really matter if bitcoin replaces fiat. As long as bitcoin is always decentralized.

[Mario Yamasaki]

When bitcoin is getting more and more popular, many people hope to replace fiat with bitcoin, this is certainly an enthusiasm that must be proven in practice, many things become barriers to bitcoin completely replacing fiat, and I believe it will be very difficult to completely remove fiat and replace with bitcoins.

[disconnectme]

Bitcoin is here to stay but the design of Bitcoin won't help it cause to totally replace Fiat currencies, we only have 21 million BTC, and it is not enough for a country not to talk of the whole nations in the world. The idea that Bitcoin will totally replace Fiat currencies to me is wishful thinking and it just needs to play its role in the economy, if Gold was not able to replace Fiat, there is no chance of Bitcoin doing so.