Is bitcoins ever going to get rid of fiat?

[Berau]

To be honest I'm a fiat hater. I would really like to see something like bitcoin, a new idea to take over the current IOU system. So what do you guys think about this, will bitcoins ever take over fiat currency? 

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[Monetizer]

I think that there is a chance it will take over but it will be a long and hard road for bitcoin. I think digital currency is the way of the future thogh, it will just be so much easier than using fiat and in some cases may be more secure (If you where getting for example robbed you may be able to lock your funds easily without having any cash around).

[waterpile]

To be honest I'm a fiat hater. I would really like to see something like bitcoin, a new idea to take over the current IOU system. So what do you guys think about this, will bitcoins ever take over fiat currency? 

I don't think so because in my opinion fiat dictates the value of bitcoin, without fiat bitcoin has no worth.

[pooya87]

i don't think so. people are not ready to accept bitcoin worldwide and give up fiat. it is going to take so long for this to happen and who knows what future holds for bitcoin.

[Berau]

i don't think so. people are not ready to accept bitcoin worldwide and give up fiat. it is going to take so long for this to happen and who knows what future holds for bitcoin.

I said "ever" going to get rid of fiat.

[jmintuck]

I doubt it will ever happen. For the first reason, never ever will we have people who will all be able to have a mobile phone or other tech that they will be able to carry around. So they will stil be using fiat almost forever.

[Mieehayii]

wish it, but can't

[b!z]

I doubt that it will ever happen. The current financial system we have in place is too large and widespread for that to happen.
It would be impossibly complicated to switch everything over to bitcoin.

[Somekindabitcoin]

It will NEVER happen. It could happen, but the chances are slim due to how complex the security over the currency will have to be. You can't let anyone try to duplicate this process and create their own money.

If it does happen and you thought the NSA was bad, you would see how bad it would truly get.

[NUFCrichard]

To be honest I'm a fiat hater. I would really like to see something like bitcoin, a new idea to take over the current IOU system. So what do you guys think about this, will bitcoins ever take over fiat currency? 

In short no, I think the next set of currencies (after the current fiat ones fail) will be backed by a basket of commodities, such as gold, silver, oil, copper etc.
Bitcoin isn't really made to be used by everyone for everything in the entire world, it is a trading currency, or will be when it develops.  Local currencies should also continue to exist too, whether they are crypto or now, I don't know.

[Frijj]

It surely has the possibility but I very much doubt it. Fiat will likely always exist in some form, but bitcoins can exist equally alongside it. Bitcoin could also truly be the first world currency and it is attractive to people in that respect alone.

To be honest I'm a fiat hater. I would really like to see something like bitcoin, a new idea to take over the current IOU system. So what do you guys think about this, will bitcoins ever take over fiat currency? 

I don't think so because in my opinion fiat dictates the value of bitcoin, without fiat bitcoin has no worth.

That's a ridiculous argument and totally not true. Bitcoin would take on its own wealth and value if fiat goes. We may even peg fiat to bitcoin and not the over way round.

[Kipsy89]

I don't think that Bitcoin will make FIAT obsolete. Countries will, in the foreseeable future, still need to have ways of influencing the economy and step in in times of recession. Deflation isn't a good thing, either...

[Amph]

there is a chance, that crypto currency may take on fiat, so not only bitcoin itself, but the probability is against it of course, it will end up with both working side by side

[Kipsy89]

there is a chance, that crypto currency may take on fiat, so not only bitcoin itself, but the probability is against it of course, it will end up with both working side by side

Well we've still got gold, as well. I think that Bitcoin will find its niche - maybe 'just' as a store of value - alongsine fiat. It has other capabilities, they will complement one another!

[gentlemand]

There'll be plenty of closed loop BTC economies run by people who want them, but there'll always have to be some interaction with regular currencies. As long as governments pay and ask for tax in fiat then it's not going anywhere.

[HarmonLi]

Replace FIAT??? Nah, don't think so. It will serve other purposes. There are always cases where Bitcoin can do things, FIAT can't do, may it just be representing money without any political power backing it.

[DeboraMeeks]

I think that unless people recognize Bitcoins over a wider pace, we need FIAT to be there in order for everyone to be able to see there's a value for it currently. Later might there be stand a chance but will still need to have value, which is why it is known as the most volatile currency.

[1Referee]

Nothing will replace fiat. Current world economy is build on fiat currency.

If you still think this will happen then you should wake up and stop dreaming.

Bitcoin is good without replacing fiat, they can work together where needed. It's not a battle.

[HarmonLi]

Nothing will replace fiat. Current world economy is build on fiat currency.

If you still think this will happen then you should wake up and stop dreaming.

Bitcoin is good without replacing fiat, they can work together where needed. It's not a battle.

Yeah, I also think that governments need some sort of power and means to help an economy to tackle recessions or alike. People always complain about the ECB for example, but they're effectively only trying to fix things.

[dothebeats]

To be honest I'm a fiat hater. I would really like to see something like bitcoin, a new idea to take over the current IOU system. So what do you guys think about this, will bitcoins ever take over fiat currency? 

Probable if bitcoin is widely adopted by the masses all over the world. The current system also took time before it was widely used, and up to this day, it is very evident that it is still the most widely used system in the world. The hardest question that bitcoin could ever face is when will mass adoption happen. It is safe to say that we can go there, but there would be hardships and whatnot along the way, so we'll probably get there after ages. Still possible though.