Fiat currency VS Bitcoin

[CTO114]

We experience and will still experiencing the waves of changes and uncertainty. Will Bitcoin eventually replace Fiat currency? Why or why do you not think so?

[HardFireMiner]

We experience and will still experiencing the waves of changes and uncertainty. Will Bitcoin eventually replace Fiat currency? Why or why do you not think so?

Bitcoin is unlikely to fully replace fiat currency because most governments rely on sovereign currencies to implement monetary policy and stabilize economies. While Bitcoin may grow as a store of value or alternative asset, its volatility issues make it impractical for widespread daily use as money.

[BitGoba]

We experience and will still experiencing the waves of changes and uncertainty. Will Bitcoin eventually replace Fiat currency? Why or why do you not think so?

Bitcoin is better money.
Asking whether Bitcoin will replace fiat currencies is like asking 100 years ago if horse-drawn carriages would be replaced by cars, or if candles would be replaced by electric light bulbs

Yes, definitely, it replace fiat currencies, but to understand why, you need to dive deep into the 'rabbit hole' of money and have a solid understanding of economics and economic principles. However, this won’t happen overnight it will likely take 100 or 200 years. It is a slow process, but an inevitable one

[nemesis_incarnate]

It will coexist with fiat as the best alternative out there. The end.

[UchihaSarada]

We experience and will still experiencing the waves of changes and uncertainty. Will Bitcoin eventually replace Fiat currency? Why or why do you not think so?

You don't have to find answers by yourself as there are many people wanted to find answers for same questions and they spent decent time for finding information, making comparisons and also publishing their reports.

Purchasing Power of the U.S. Dollar Over Time
How is the 21 million bitcoin cap defined and enforced?

Their difference is not coincidence of anything but comes from their big differences in total supplies, circulating supplies and inflationary rates over time as shown by following charts.
Bitcoin Supply Inflation.

[Rruchi man]

Will Bitcoin eventually replace Fiat currency?

I doubt it is the intention for Bitcoin to completely replace the use of fiat currency.

It was created to create an alternative and reduce the dependence on the traditional fiat for transactions. I doubt that there will ever be a time when fiat will not be in use, even amongst Bitcoiners. The use of Bitcoin and the use of traditional fiat will coexist.

We may have more persons using bitcoins, but there will be people who will still use fiat.

[DonaldCryptoTalk1]

We experience and will still experiencing the waves of changes and uncertainty. Will Bitcoin eventually replace Fiat currency? Why or why do you not think so?

I don’t see Bitcoin completely replacing fiat anytime soon. Governments will always push to keep their own currencies in play, and most people still trust what they’ve been using all their lives.
But Bitcoin has its place, it’s borderless, inflation resistant, and can be a lifeline in unstable economies. I think the future will be both side by side: fiat for everyday spending, Bitcoin for savings and big transfers.

[Cryptohygenic]

We experience and will still experiencing the waves of changes and uncertainty. Will Bitcoin eventually replace Fiat currency? Why or why do you not think so?

Bitcoin is basically made for an alternative to make payments. Not primary so get that right.
And it can never replace the fiats because governments will not even allow it and how stupid it is you think the authorities will send the fiats under their regulations to extinction and embrace bitcoin.
And besides bitcoin is not friendly to everyone in term of using it due to the technicalities accompanied it accessing it and processing of transactions. Everyone's mentality can not handle the stress/risks in bitcoin so, let that dream that bitcoin will replace the fiat die because it is not going to happen. It will always be increased in dominance.

[SuperBitMan]

We experience and will still experiencing the waves of changes and uncertainty. Will Bitcoin eventually replace Fiat currency? Why or why do you not think so?

It is true that Bitcoin is growing bigger and right now is the best crypto coin in the world and a lot of people are also investing in Bitcoin however bitcoin can never replace Fiat currency reason being that every country has a flat currency and this their currency is what is being used to trade in the world market so it is impossible for Bitcoin to replace it, flat currency tells if your countries economy is growing well or not, if your economy is doing badly it will affect your currency in the world market, there's how the world Bank and the world trade uses this Fiat currency to balance things.
And again bitcoin is highly volatile in nature so basically bitcoin is for investment purpose one can use bitcoin to purchase items but using your Fiat currency to do that is better, and those that are investing in Bitcoin still need Fiat currency because they use it has their backup funds which are there emergency, reserve and float funds, you can't have this funds in Bitcoin or any other cryptocurrency because of the volatile nature of it, so it is impossible for Bitcoin to replace Fiat currency.

[AprilioMP]

We experience and will still experiencing the waves of changes and uncertainty. Will Bitcoin eventually replace Fiat currency? Why or why do you not think so?

This discussion has been raised repeatedly in forums, and this is the umpteenth time.

Bitcoin is a peer-to-peer electronic cash system. Replacing fiat currency is difficult to provide a definitive answer to, as both Bitcoin and fiat function as a means of money in transactions. The difference is that fiat is physical, while Bitcoin is not. Fiat always experiences a decline in value every fiscal year, but Bitcoin has proven its value as a hedge since its launch until now.

Who is better? My answer is Bitcoin.

[BALIK]

We experience and will still experiencing the waves of changes and uncertainty. Will Bitcoin eventually replace Fiat currency? Why or why do you not think so?

That will never happen, and the reason is simple, the government will never let that happen. They will not accept the use of a currency they cannot control.

Furthermore, using a decentralized currency as the main currency for the economy and completely eliminating fiat money will only cause chaos and even economic collapse. It is not as beneficial as we think.

Bitcoin was created by Satoshi with the goal of being an alternative for people who were fed up with the fiat currency system. He did not create it to replace fiat or banking.

[SatoPrincess]

I used to believe that when I was a newbie and as I grew in the crypto space I realized that bitcoin and fiat can both coexist. People should have the freedom to choose which to use and when to use it. Bitcoin has come a long way since it was created, right now bitcoin has made a reputation for being a store of value and hedge against inflation, I’m positive that in the next decade bitcoin would become more widely used as a currency for buying goods and services on a local and global scale.

[henry_of_skalitz]

I used to believe that when I was a newbie and as I grew in the crypto space I realized that bitcoin and fiat can both coexist. People should have the freedom to choose which to use and when to use it. Bitcoin has come a long way since it was created, right now bitcoin has made a reputation for being a store of value and hedge against inflation, I’m positive that in the next decade bitcoin would become more widely used as a currency for buying goods and services on a local and global scale.

I agree, and it will be beautiful to see services being paid with BTC as an alternative, more to come, and more adoption for BTC means more people knowing what suits them best and their custody

[free-bit.co.in]

I’m positive that in the next decade bitcoin would become more widely used as a currency for buying goods and services on a local and global scale.

Bitcoin is not the only crypto and when it comes to currencies used as a payment method, what people want is fast speed and cheap transaction fees. So I suspect bitcoin will become the payment method of choice in the next decade if governments want to add crypto to an alternative. In terms of transaction speed and fees, Bitcoin is quite weak compared to many other crypto and is not an optimal choice to consider.

In my opinion, bitcoin is better suited as a store of value and has the potential to become a safe haven than a widely used currency as an alternative to fiat.

[Mr. Magkaisa]

Bank of America tell client to buy bitcoin, Their bank is getting ready to embrace cryptocurrency.
Fiat and all the currency ini the world can  be reproduce and the value might go up a bit but  not enough to ssupport the inflation,
While world getting more expensive Bitcoin getting minted and will be no longer available to mine, and will go get higher and higher.

[As-Soon-As]

We experience and will still experiencing the waves of changes and uncertainty. Will Bitcoin eventually replace Fiat currency? Why or why do you not think so?

But I can say that there will come a time when Bitcoin will be the most used currency, because as time goes by, fiat money is decreasing. Now people are afraid to carry paper money and go on the streets because there is a high chance of getting robbed, using Bitcoin is the safest because the passenger sitting next to you will never know if you have Bitcoin.
We are moving towards the future and using modern transactions more, it can be Bitcoin or we complete transactions by numbers, so the use of fiat currency is decreasing.

[Hyphen(-)]

We experience and will still experiencing the waves of changes and uncertainty. Will Bitcoin eventually replace Fiat currency? Why or why do you not think so?

If Bitcoin will be completely centralized and all countries will adopt it, then it can replace fiat, and the chance of this happening is very slim; therefore, I don’t think Bitcoin will completely replace fiat currency.

Remember; many countries are yet to adopt Bitcoin, it has never been a global means of exchange yet because some countries didn’t adopt Bitcoin because of it’s decentralized nature; all these governments wants something they can control and since Bitcoin can’t give them that chance, they will rather invest in Bitcoin than to accept it generally as a means of exchange to replace fiat currency globally.

[m2017]

We experience and will still experiencing the waves of changes and uncertainty. Will Bitcoin eventually replace Fiat currency? Why or why do you not think so?

This will not happen.

Because in any country, the only legal tender is the national currency. Without any other options. This is written in the laws of each country. No country in the world will agree to recognize a financial asset that is not under their control as legal tender. With the exception of countries willing to experiment (like El Salvador).

Fiat will be replaced by CBDC. That's it.

[hyudien]

Fiat currency is difficult to replace with Bitcoin and should not be contested. Governments will always try to maintain fiat currency, even though the traditional financial system has repeatedly proven its shortcomings. Let the two coexist, rather than contesting each other. Not all societies are ready or willing to accept Bitcoin, and we must respect that.

[Obim34]

But I can say that there will come a time when Bitcoin will be the most used currency, because as time goes by, fiat money is decreasing. Now people are afraid to carry paper money and go on the streets because there is a high chance of getting robbed, using Bitcoin is the safest because the passenger sitting next to you will never know if you have Bitcoin.
We are moving towards the future and using modern transactions more, it can be Bitcoin or we complete transactions by numbers, so the use of fiat currency is decreasing.

Nothing stops anyone from having Bitcoin and fiat, know this that Bitcoin can't replace fiat no matter our level of adoption.

Paper money isn't only called fiat, the balance in our banks are part of fiat, there are more electronic banks for fast spending and less charges. I don't believe banks and fiats are getting replaced, Bitcoin remains an alternative for fiat but likely to grow wide for investment purpose.

People are going to use Bitcoin for investment more than they will as currency.