Is Bitcoin the Future of Money or Just a Digital Asset?

[fredericktaylor]

But reasoning this carefully is Bitcoin stable enough to replace our everyday money or just a digital assets like gold and others relating to as the price goes up and down on a daily basis. On a second thought is the truth in the middle of being the future of money or a digital asset? Since it can be used to hold and protect wealth against inflation or anything of such.
What about countries with weak money system?
Do you think that Bitcoin will one day replace traditional money, or will it remain mostly an investment like digital gold?

Bitcoin was created as a better alternative to traditional currency and not to replace it. The aim was to give control, address reliances on third party payments and inflation.

If you like decentralization, use Bitcoin, if you're against decentralization use Fiat. Bitcoin gave us an alternative option and that was the purpose of it creation.

Absolutely right, Bitcoin was not created to be an alternative to fiat currency. The main purpose of creating bitcoin is to easily solve the complexities of the individual freedom banking system so that customers can make transactions very easily without having to depend on third parties and to protect themselves from inflation. Bitcoin's price fluctuates rapidly and it will never be as stable as fiat currency because bitcoin is a digital decentralized asset that no country or government can control. Bitcoin is challenging to use as a daily currency because its price fluctuates rapidly. Ordinary people are more motivated to hold bitcoin for the long term than for daily use because by holding it for the long term, they can expect to profit in the future.

[Cyber_warrior]

What about countries with weak money system?
Do you think that Bitcoin will one day replace traditional money, or will it remain mostly an investment like digital gold?

Most people no even sabi why dem create bitcoin, make I no lie u bitcoin wasn’t created to replace any traditional money, because that’s one go Dey difficult to happen, I no Dey sure say any country go even allow that even if they get weak money system. Bitcoin was created to serve as alternative currency, and not to fight any other currency.

Na just alternative currency we want make bitcoin be, and dem no even wan  allow self, just imagine say na make bitcoin replace their traditional currency na him we come Dey fight for, u know say e no go possible now. Wetin government Dey do with traditional money, dem no fit run am with bitcoin na why dem no go allow be that. Make we just continue to Dey spread bitcoin awareness, and make bitcoin be alternative currency.

[MainIbem]

For the relevant of what Bitcoin stand for which is it's decentralized nature and knowing what this stands for means the government will always hold on to what they can have full control of which is the fiat system hence Bitcoin can never come to this spotlight in other to protect it's relevance as a financial freedom and there is no system that can function without the existence of government, Bitcoin was never created to replace the fiat system and of course that wasn't the reason for it's invention but to work in hand with the fiat system and I don't ever imagine Bitcoin replacing any of the traditional money.

Yes the fiat currency would continue to exist except maybe in future, different government decided to embrace Bitcoin as their legal currency but I doubt if it would be possible cause of how volatile it is and won't be suitable for carrying out transactions by market sellers and business owners anyways Bitcoin was to serve as an alternative to fiat against third party but currently it's more like a store of value and people would rather hold it for years to be more valuable than use it for carrying out daily transactions like the fiat currency.

[Promocodeudo]

Yes the fiat currency would continue to exist except maybe in future, different government decided to embrace Bitcoin as their legal currency but I doubt if it would be possible cause of how volatile it is and won't be suitable for carrying out transactions by market sellers and business owners anyways Bitcoin was to serve as an alternative to fiat against third party but currently it's more like a store of value and people would rather hold it for years to be more valuable than use it for carrying out daily transactions like the fiat currency.

Dude even in the future, fiat system will never go into extinction, that's traditional money we are taking about although I understand why you said in the future, may be you said that because we don't know what the future will be like but I believe that Bitcoin and fiat will continue to exist separately because both currency serves different purposea, people will continue to invest in Bitcoin, they'll take it for what it is but as for fiat itself, it has its own importance, let's also know that Bitcoin is not handy yet and we don't know if such will be possible in the future, Bitcoin is a store of wealth and value for the future, there many reasons why hodlers wouldn't want to transact with their Bitcoin on daily bases just as you said.

[Orpichukwu]

For the relevant of what Bitcoin stand for which is it's decentralized nature and knowing what this stands for means the government will always hold on to what they can have full control of which is the fiat system hence Bitcoin can never come to this spotlight in other to protect it's relevance as a financial freedom and there is no system that can function without the existence of government, Bitcoin was never created to replace the fiat system and of course that wasn't the reason for it's invention but to work in hand with the fiat system and I don't ever imagine Bitcoin replacing any of the traditional money.

It's even delusional for anyone to think that Bitcoin is going to replace the fiat system, when the purpose was not that from the onset; rather, Bitcoin was created to give people a choice not to depend only on the fiat system. You can't completely survive in a country as a citizen without using fiat unless you don't want to deal with tax, and the government can't even permit such to happen.

[AmaGold70]

It's very ridiculous to think that Bitcoin is going to replace fiat, Bitcoin is a digital asset and nothing more, nothing less. Bitcoin wasn't created to be compared to our traditional money and it's doing its job perfectly in regards to why it was created so let's not complicate the digital space, fiat currency will continue to be around for a long time and Bitcoin will be around too doing their different jobs, it's not everyone that like Bitcoin in this generation and so even in the near or far generation not everyone will like Bitcoin and therefore fiat currency will continue to be in existence.

[MainIbem]

Dude even in the future, fiat system will never go into extinction, that's traditional money we are taking about although I understand why you said in the future, may be you said that because we don't know what the future will be like but I believe that Bitcoin and fiat will continue to exist separately because both currency serves different purposea, people will continue to invest in Bitcoin, they'll take it for what it is but as for fiat itself, it has its own importance, let's also know that Bitcoin is not handy yet and we don't know if such will be possible in the future, Bitcoin is a store of wealth and value for the future, there many reasons why hodlers wouldn't want to transact with their Bitcoin on daily bases just as you said.

Exactly, that's why I said maybe since we don't know what the future would look like or if the evolution of money would change from fiat into digital currency with Bitcoin as the legal tender globally since it's more popular and better than other coins, but since we're not there yet we can't stop using the flat currency, I'll only advise people to invest their discretionary into Bitcoin but transact daily with fiat since Bitcoin would give more value to their money in years to come whereas ssving their money in banks would even attract debit for charges and so sort.

[Hardyrobust]

Thinking of this, Bitcoin have been around since 2008 which is over a decade now and truly speaking it has changed the way we see money. Since it's not controlled by any government, this makes it borderless as anyone can send and receive value in few minutes and it  tends to give financial freedom to anyone that invest into it reasonably.
But reasoning this carefully is Bitcoin stable enough to replace our everyday money or just a digital assets like gold and others relating to as the price goes up and down on a daily basis. On a second thought is the truth in the middle of being the future of money or a digital asset? Since it can be used to hold and protect wealth against inflation or anything of such.
What about countries with weak money system?
Do you think that Bitcoin will one day replace traditional money, or will it remain mostly an investment like digital gold?

bitcoin has proven to be a good store of value and can act as a hedge against inflation with this  I think bitcoin can actually replace fiat and also we can see that some countries do used bitcoin for transactions. With time other countries will follow suit , some countries presently have bitcoin reserves. Bitcoin may like replace fiat in some countries but there are countries that won't accept bitcoin as means of exchange especially in under developed countries that are not technically inclined.

[Grace333]

What about countries with weak money system?
Do you think that Bitcoin will one day replace traditional money, or will it remain mostly an investment like digital gold?

Most people no even sabi why dem create bitcoin, make I no lie u bitcoin wasn’t created to replace any traditional money, because that’s one go Dey difficult to happen, I no Dey sure say any country go even allow that even if they get weak money system. Bitcoin was created to serve as alternative currency, and not to fight any other currency.

Na just alternative currency we want make bitcoin be, and dem no even wan  allow self, just imagine say na make bitcoin replace their traditional currency na him we come Dey fight for, u know say e no go possible now. Wetin government Dey do with traditional money, dem no fit run am with bitcoin na why dem no go allow be that. Make we just continue to Dey spread bitcoin awareness, and make bitcoin be alternative currency.

Bitcoin no really need to replace any government money before e go matter, the real power dey for the fact say e give us option. If your national money dey weak, you fit still protect your value with Bitcoin, and nobody fit control am or stop your transaction. That one alone don already make am strong pass many traditional currencies.

Even if government no gree make am official money, e don already become global alternative for people wey sabi use am. The way I see am, whether dem allow or not, Bitcoin go still dey grow because na people wey dey adopt am, dey push the future, no be government..

[icebar]

Bitcoin gives an individual freedom in financial transactions and also gives us the maximum benefit of being decentralized. But it never opposes fiat. An individual can use whatever he feels comfortable with according to his convenience. Since the birth of the world, people have been transacting, but there was no opportunity to do so anonymously, but since the emergence of Bitcoin, it has become possible. Moreover, when there are various types of currencies in the whole world, Bitcoin can be used as a single decentralized digital currency. It can be considered as an alternative to fiat.

[Scarlett_23]

Thinking of this, Bitcoin have been around since 2008 which is over a decade now and truly speaking it has changed the way we see money. Since it's not controlled by any government, this makes it borderless as anyone can send and receive value in few minutes and it  tends to give financial freedom to anyone that invest into it reasonably.
But reasoning this carefully is Bitcoin stable enough to replace our everyday money or just a digital assets like gold and others relating to as the price goes up and down on a daily basis. On a second thought is the truth in the middle of being the future of money or a digital asset? Since it can be used to hold and protect wealth against inflation or anything of such.
What about countries with weak money system?
Do you think that Bitcoin will one day replace traditional money, or will it remain mostly an investment like digital gold?

Bitcoin was originally introduced as a means of transaction alongside fiat. Because Bitcoin does not require any intermediary. No country or government can take control over it. Bitcoin was not mentioned as a replacement for fiat.

On the other hand, the government gives priority only to those currencies over which the government has control. That is, the government has priority over fiat currencies, the government can print this currency if it wants. But the government has no control over Bitcoin, it cannot produce it if it wants.

Although Bitcoin was created for transactions, Bitcoin has now become a valuable asset. People have long been investing in gold, real estate and various businesses, and now people have chosen Bitcoin as a means of digital transactions.

[Curious T]

Do you think that Bitcoin will one day replace traditional money, or will it remain mostly an investment like digital gold?

Gold has passed through many stages to get to where it is today. There were times when it was used mainly as a currency, and today it's used mainly as an asset, store of value and even as a federal reserve. Bitcoin, too, will pass through those stages as well. And you can see gold didn't replace the traditional currency, even though it was a traditional currency long ago, the same way bitcoin won't replace the traditional currency. Bitcoin is not here to replace, it's here as an alternative.

[Tungbulu]

For the relevant of what Bitcoin stand for which is it's decentralized nature and knowing what this stands for means the government will always hold on to what they can have full control of which is the fiat system hence Bitcoin can never come to this spotlight in other to protect it's relevance as a financial freedom and there is no system that can function without the existence of government, Bitcoin was never created to replace the fiat system and of course that wasn't the reason for it's invention but to work in hand with the fiat system and I don't ever imagine Bitcoin replacing any of the traditional money.

Yes the fiat currency would continue to exist except maybe in future, different government decided to embrace Bitcoin as their legal currency but I doubt if it would be possible cause of how volatile it is and won't be suitable for carrying out transactions by market sellers and business owners anyways Bitcoin was to serve as an alternative to fiat against third party but currently it's more like a store of value and people would rather hold it for years to be more valuable than use it for carrying out daily transactions like the fiat currency.

Even if a particular government decides to accept or adopt Bitcoin as their country’s currency, it’s still not guaranteed that they’ll completely get rid of their local fiat currency, because that’s exactly what they rely on to control their economy. Plus, Bitcoin isn’t really a great choice for everyday use due to its volatile nature, it’ll only make it difficult for market seller and business when it comes to pricing since the value can move from this to that in seconds. Yes  Bitcoin was initially designed to be an alternative to the traditional fiat system, since it has completely eradicated the need for third party involvement, but presently the asset has grown to become more of a store of value.

[adultcrypto]

It's even delusional for anyone to think that Bitcoin is going to replace the fiat system, when the purpose was not that from the onset; rather, Bitcoin was created to give people a choice not to depend only on the fiat system. You can't completely survive in a country as a citizen without using fiat unless you don't want to deal with tax, and the government can't even permit such to happen.

Those are the people that consume much of John McAfee content who is so vocal about the death of the US dollar and the supremacy of bitcoin, something he does to keep himself happy and relevant. It is good to be so hyped about bitcoin but giving bitcoin unrealistic attributes will not in anyway make it to become or do what it is not meant to do. Bitcoin was created to exist alongside the other fiats, there is no way nations will jettison their currencies for bitcoin.

[B-BossMan]

Thinking of this, Bitcoin have been around since 2008 which is over a decade now and truly speaking it has changed the way we see money. Since it's not controlled by any government, this makes it borderless as anyone can send and receive value in few minutes and it  tends to give financial freedom to anyone that invest into it reasonably.
But reasoning this carefully is Bitcoin stable enough to replace our everyday money or just a digital assets like gold and others relating to as the price goes up and down on a daily basis. On a second thought is the truth in the middle of being the future of money or a digital asset? Since it can be used to hold and protect wealth against inflation or anything of such.
What about countries with weak money system?
Do you think that Bitcoin will one day replace traditional money, or will it remain mostly an investment like digital gold?

Bitcoin  is actually of a decentralised and volatile nature, which allows users to make transactions without interference from government or any other authority, which builds a strong freedom for users and also provides financial independence to users. However, the question of whether Bitcoin can replace traditional currency or if it just serves as a digital asset like gold is very clear and simple. When we talk of a digital asset, Bitcoin serves as a store of value and also an alternative, especially in an economically volatile environment. Particularly, our government didn't support cryptocurrency users at any point; with this, it's going to take a lot of time to achieve stability sufficient for day-to-day uses over traditional currency. Bitcoin is decentralised, while fiat is centralised.

[Rgram]

It’s both digital asset and the future of money.

In today, Bitcoin has been known to serve more as an asset given its volatility which remains one of the main reason why people are very conscious of the ways they spend Bitcoin. This doesn’t neglect the fact that, there are those that want to be more ceremonial about it, spending just to keep a memory of haven’t used it as a currency but, it’s got a future about it in both aspects to serve as money and an asset.

[ODG001]

Bitcoin is a digital asset while money is material you offer in return for a good/service.
For me and speaking based on the acceptance of Bitcoin as form of payment in some places I believe it is already the future of money

It is just a matter of how long it might take, Bitcoin has the full capacity to become the future of trade

Also, considering the rapid growth and influence Bitcoin has over the years one can not be wrong to say that it has probability to take over the form of payment on the business/market space.