Bitcoin has the potential to dominate fiats, what do you think?

[BtcAnalyst1]

The growing demand for Bitcoin is unprecedented, it has been forecasted that the demand for btc will continue to grow even as awareness and adoption increases now and in near future.
We also know that Bitcoin dominance over altcions has gone very high, there are no indications for a decrease at the current index rate which stood at around 62%, very is high for altcions bullish momentum, or the much anticipated altcions season.
Now, I think that Bitcoin has the capacity, based on it's continuing awareness and adoption to dominate the faits in near future, though this, in my opinion may causing fears on the Fiats economy, hence the rising regulatory concerns in many countries. Do you think Bitcoin will dominate fiats in near future?

[Zaguru12]

Firs of all there was absolutely no comparison between bitcoin and Altcoins it is Crystal clear that the Altcoins can simply play a distant second and wouldn’t get any closer, so I don’t even get when people still think now that this dominance will have a shift, during bull run Altcoins can get to grow a little bit in dominance just because of hype but nothing more than that.

As for dominating fiat I think bitcoin already is playing the alternative currency role and I don’t think it will go over fiat currencies because of their centralization, the only way bitcoin simply dominate all this fiats is when it is giving the legal tender freedom by the government and free from restrictions, this way I think bitcoin will override most of this top fiat currency.

As an asset though with the adoption rate ever growing there is nothing stopping it from going to the top. Bitcoin is simply going to be one of those precious assets to hold

[Jawhead999]

Dominating in what?

Dominating in market cap? high likely in the future.
Dominating in daily usage? there's no way Bitcoin can beat fiats.
Dominating in holding for long term? fiats already lose since few years ago.

Most people use Bitcoin as investment, so they both can't be compared because they work different.

[Ruttoshi]

Bitcoin wasn't created to take over from fiat but a be alternative payment method to fiat. Fiat was created by the government and there is no way that the government will allow bitcoin take over fiat because fiat is the currency that your country uses everyday because it's easy to use for payment face to face than bitcoin. Secondly, it's not everyone that must use bitcoin but everyone must use fiat.

Altcoins are the duplicate of bitcoin and they were created for selfish purpose by the devs but bitcoin was created with a pure heart to free people from fiat entrapment. Bitcoin is the best currency that man have ever created and it's the opposite to fiat.

[Ullaa]

I don’t think Bitcoin can entirely dominate fiat. Fiat currencies are tightly interwoven with every country’s economy legal syste and daily life, Governments use them to control inflation govern policy and fund services.
 
Bitcoin is powerful but it's still quite volatile and not many people are ready to trust it entirely for regular transactions,
I think Bitcoin will continue essential but not replace money totally.

[Z-tight]

Do you think Bitcoin will dominate fiats in near future?

If you are asking if BTC will be used more than fiat, then the answer is obviously no. Nobody can deny how well BTC has developed, but there is no way it can be used more than fiat, it is a legal tender in only one country, and even that country has changed its policy and merchants over there are no longer compelled by law to accept BTC.

Take note as well that most people consider BTC as a store of value rather than a currency, so we have to understand that BTC will be an alternative currency to fiat, with its unique features that make it appealing to the people who use it.

[Beparanf]

Fiat has unlimited supply since government can do unlimited print so I doubt Bitcoin can even rival fiat when it comes dominance since fiat has unlimited total valuation depending on the country economy.

They are not comparable at all due to different use. Also, Bitcoin is now being regulated by the government so it will surely be controlled in the near future.

[red4slash]

Dominate in terms of what because in the end when talking about dominance then of course there must be a reference to say the dominance but apart from all that actually when talking about bitcoin and associated with fiat or as a substitute for them then it is clearly not something that can be done.

Adoption is increasing from year to year it is true but to make bitcoin a substitute for fiat under any circumstances it cannot be done because after all bitcoin will remain an option not a substitute for fiat that already exists now.

So in this case I think the nature of bitcoin even though it is currently starting to be looked at by several countries including large countries but still the situation will be the same where they will be more utilized for investment or may be able to become legal tender but with a note that fiat will still be the main means of payment and bitcoin will only be an alternative.

[EluguHcman]

Do you think Bitcoin will dominate fiats in near future?

On what specific aspect? Because there are lot of categories to consider in this evaluation.
If we talk about "store of values", Bitcoin will dominant the banks in the future because as it is currently, the bank stakeholders, whalers who stores huge amount of money in their bank accounts are now diverting to store their funds in Bitcoin.
Not just for security reasons but in the fact that Bitcoin on it own is a volatile asset that yields profits in returns.

As you can see, even those criticizing Bitcoin in the past has made a turn around embracing it because they don't want to miss out.
I strongly believe Bitcoin will dominant over fiats but doesn't mean the fiats will go on extinction.

[Mrbluntzy]

Dominate fiat for daily spending transactions or dominate it in terms of saving fiat in the bank? If you speak of spending, I doubt it's possible that Bitcoin is going to become widely spent like fist, do you even see how people are buying and holding Bitcoin, not will not spend it anytime soon? When Bitcoin price even gets to an ATH of $200k and more, people will not want to spend Bitcoin carelessly but would prefer to hold like an asset. I don't see Bitcoin dominating fiat, let's even assume that it happens like that, will the government accept it?

[Agbe]

To me Bitcoin is already dominating Fiat because we can't compare the two as Bitcoin continues to increase in price more persons has adopted the use of Bitcoin due to the opportunities that Bitcoin offers Bitcoin is one of the most used assets in the world now so we can't compare our Fiat currencies to Bitcoin because Bitcoin has far outclassed our traditional currencies

[r_victory]

Whether Bitcoin will dominate/overtake fiat currencies is a complex question. There are several structural challenges to Bitcoin becoming a dominant currency, for example:

• The network processes only about 7 transactions per second, compared to the thousands that traditional payment systems can handle. Although there are second-layer solutions, such as the Lightning Network, which promise millions of transactions per second, they have not yet been adopted on a large enough scale to reach the masses.
  
  
• During periods of high demand, there may be congestion, resulting in higher fees and slower confirmations.

For comparison, centralized systems like Visa process up to 1,700 transactions per second, and PayPal, about 193 transactions per second.

Bitcoin has established itself more as a store of value than as a form of payment and everyday commerce, which is the case with fiat currency.

In my opinion, the likely scenario is a coexistence, with Bitcoin as a digital store of value while fiat currencies (perhaps digitized in the future) dominate everyday transactions.

[tabas]

Do you think Bitcoin will dominate fiats in near future?

Dominating Fiat in what sense, of replacing it? We're optimistic about the adoption of Bitcoin, and we've said things like this if it's about the replacement of it. But then, there go the governments that are solely relying on their fiat. And they can do things uncomfortable for us, like banning Bitcoin if it happens that they see that it's no longer good for their economy, as people are going more with Bitcoin. For which they can't rely on it because it's decentralized and they can't control the printing of its supply compared to fiat. I guess if it's about the usability of it, we all know that Bitcoin is in advantage of it and with the adoption rate increasing year by year and instead of saying it is dominating fiat. It's likely that it will dominate the financing and investing choice of people.

[kotajikikox]

The growing demand for Bitcoin is unprecedented, it has been forecasted that the demand for btc will continue to grow even as awareness and adoption increases now and in near future.
We also know that Bitcoin dominance over altcions has gone very high, there are no indications for a decrease at the current index rate which stood at around 62%, very is high for altcions bullish momentum, or the much anticipated altcions season.
Now, I think that Bitcoin has the capacity, based on it's continuing awareness and adoption to dominate the faits in near future, though this, in my opinion may causing fears on the Fiats economy, hence the rising regulatory concerns in many countries. Do you think Bitcoin will dominate fiats in near future?

Can bitcoin dominate fiats? Yes. Can bitcoin completely replace fiats? I don’t think so.

Bitcoin may be deemed more valuable in the future than fiat and this might push for bitcoin to be used more but I don’t think that this will mean fiat will be completely gone and bitcoin will replace them.

[Botnake]

Bitcoin was never invented to dominate fiat or any country’s currency. In fact, its purpose is just to act as a reserved currency, without replacing the position of fiat that has long been backed up by the government. Bitcoin is made for financial freedom, not to beat fiat or the other way around.

Let’s just embrace the fact with bitcoin and fiat, and that they’re meant to co-exist to serve people the better way when it comes to financial transactions.

[suzanne5223]

Now, I think that Bitcoin has the capacity, based on it's continuing awareness and adoption to dominate the faits in near future, though this, in my opinion may causing fears on the Fiats economy, hence the rising regulatory concerns in many countries. Do you think Bitcoin will dominate fiats in near future?

Bitcoin already has the capacity right from the get-go, and that's why we have all shitcoin creator/team imitating the concept of Bitcoin to create their altcoin. However, Bitcoin was not create to dominate fiat currency, but to complement to drawback of fiat currency since the government ignore to fixed due to their selfishness reason because there's no way they will continue to print money every year and inflation wont happen which I believe a no-brainer we easily understand.
Nevertheless, they continue to print more fiat every year to manipulate the monetary system so they could steal from the national cake since it is not all the Central Bank activities that's know to the public.

[stadus]

Causing fear for the fiat economy? Why, are we saying Bitcoin is going to replace fiat? I don’t think that’s going to happen. Bitcoin will always be more of an alternative currency, not a full replacement.

Yes, it helps hedge against inflation, but at the end of the day, when it comes to daily spending, Bitcoin still isn’t practical enough. Fiat is still necessary and will stay.

Also, remember that Bitcoin is already regulated, at least through exchanges and financial platforms that deal with it. So in a way, the government is still in control and who creates fiat? The government, right?

[sheenshane]

Do you think Bitcoin will dominate fiats in near future?

I think you misunderstand Bitcoin and how it functions.
Bitcoin wasn't created for that purpose, you can't compare apples and oranges since they are relatively different.
It's an alternative payment system that gives you full control, not dominated by fiat.

This is the reality about the government, they aren’t just going to roll over and relinquish their monopoly because some people believe Bitcoin’s awareness is increasing.  Regulatory fears are precisely that, fear of losing control, and they’ll quickly squash any serious threat.  So, unless you’re planning to wait a couple of decades for a miracle, don’t hold your breath.

[Alphakilo]

The growing demand for Bitcoin is unprecedented, it has been forecasted that the demand for btc will continue to grow even as awareness and adoption increases now and in near future.
We also know that Bitcoin dominance over altcions has gone very high, there are no indications for a decrease at the current index rate which stood at around 62%, very is high for altcions bullish momentum, or the much anticipated altcions season.
Now, I think that Bitcoin has the capacity, based on it's continuing awareness and adoption to dominate the faits in near future, though this, in my opinion may causing fears on the Fiats economy, hence the rising regulatory concerns in many countries. Do you think Bitcoin will dominate fiats in near future?

I know that bitcoin will continue to grow and its adoption also grow in the same proportion.

Why bitcoin will continue to dominate over altcoins is because we are including these very big institutions are buying into bitcoin. I may also add that some government's favourable comments about bitcoin is also part of the reason for this. And like the majority, I am holding bitcoin more for savings and not for transactions. Another reason.

In the future bitcoin will coexist with fiats as we can already see in some countries though not full-blow. To dominate fiats would be no possible.

[mirakal]

Bitcoin can dominate fiat in terms of its store of value and the transparency of its transactions. However, that is not the point behind the creation of bitcoin. So it’s never gonna exist to simply dominate fiat but to act as a digital currency and as an alternative payment aside from fiat.

Furthermore, bitcoin is more utilized today as a store of value because of its rapid price increase, so there’s no point comparing it to fiat when it’s seldomly used only as a payment system.