Topic: Bitcoin can not replace fiat - page 30. (Read 163791 times)
It will be hard to convert all the current existing fiat in the world with Bitcoin at a snap. People would not easily be able to adapt to its structure and system, which is why you can say that Bitcoin can not replace fiat. Also, the fact that everyone has no or minimal access towards Bitcoin is also a disadvantage to this circumstance. What will they use to pay if fiat was exchanged and they have no idea what Bitcoin is about? However, we all know how much the world has evolved over time with regards to the digital and virtual aspect. If a time will come that Bitcoin will rule over fiat then hopefully everybody has access and knowledge towards this platform.
Bitcoin can no way replace the fiat currency. Fiat currency has got its own advantages. Just imagine if we want to purchase a 2 dollar object from a shop, we always try to pay the shopkeeper with fiat currency. Suppose if we pay in bitcoin, we need to spend totally 5 dollars for purchasing it including its transaction fees. Bitcoin is useful for bigger transactions and for smaller transactions still fiat is the best method.
if transaction price will go down, crypto currencies can replace credit and debit cards. So yeah, there is the way Bitcoin can replace fiat - become more convenient for small payments. That's it. 
Bitcoin can no way replace the fiat currency. Fiat currency has got its own advantages. Just imagine if we want to purchase a 2 dollar object from a shop, we always try to pay the shopkeeper with fiat currency. Suppose if we pay in bitcoin, we need to spend totally 5 dollars for purchasing it including its transaction fees. Bitcoin is useful for bigger transactions and for smaller transactions still fiat is the best method.
Bitcoin cannot replace fiat its true but It is a source to earn and convert into fiat.
But as days will pass more and more companies will accept bitcoin and it will be close to be used just as fiat
But as days will pass more and more companies will accept bitcoin and it will be close to be used just as fiat
You maybe right for now, but in the near future I think it could be mate. Because bitcoin has a characteristic to ad potential to replace it, and we knew how strong Dollar right, but in my sight I know it could really be happen.
However , people do not trust bitcoin around they trust fiat cash. I consider bitcoin only as an alternative method to buy and sell issues. There aren't sufficient cash for use by all those people that use fiat cash.
Bitcoin might not replace fiat currency out right but it sure will put it on the back burner I think. So yes traditional banks may exist and have some use but I think that 90%+ of them could be closed down and nobody would bat
an eye. Most of our transactions now are digital anyways and seeing how most people with internet will likely attain some bitcoins it will be all but done replacing fiat currency. The only function fiat currency will have in the future
will be to buy bitcoin, at least this is the future I like to live in.
an eye. Most of our transactions now are digital anyways and seeing how most people with internet will likely attain some bitcoins it will be all but done replacing fiat currency. The only function fiat currency will have in the future
will be to buy bitcoin, at least this is the future I like to live in.
However if one already owns bitcoins, this problem that you have becomes non-existent.
Yes, but what I am talking about is mass adoption. I don't see my grandmother owning BTC.
bitcoin cannot replace FIAT all oover the world but can start in just a coountry and will spread later , well we need to be fully connected on the internet and each people breathing must have cellphones and data just to have bitcoin as an exhange with fiat ! this will be hard to have but one thing is sure ! bitcoin is way beyond FIAT value!
In time , bitcoin or another crypto will replace the fiat man cause fiat is having a slow death. We are living the changes , be happy and start to gather some alts and bitcoin before they are all mined. That's when the real rush will begin.
actually i think that bitcoins will substitute fiat in just like a many years hopefully simply because in my opinion bitcoin is more powerful than fiat
You cannot replace piat money by bitcoin but rather bitcoin is the source of piat money.
We cannot use bitcoin in simple buying in real market place, because there are many people has no knowledge about bitcoin and what is bitcoin. If we are buying fish or many things like our personal need and other like candy we must use piat money or bank money to buy thats things.
We cannot use bitcoin in simple buying in real market place, because there are many people has no knowledge about bitcoin and what is bitcoin. If we are buying fish or many things like our personal need and other like candy we must use piat money or bank money to buy thats things.
Of course not, and I hope it never does. I like that we have plenty of options to decide when it comes to paying for something, also, we cannot pretend everyone will accept Bitcoin, less use it for everyday transactions.
Once the bitcoin trend will get started and proper knowledge and awareness will come into the mind of common people then they will eagerly ask about bitcoin they will not accept the paper money because bitcoin is the most promising and profiting currency and those who are using it are now in good financial condition as compare to those who are working in offices and getting fixed amount of money at the end.
Futuristic as of the moment but we can never tell for nothing is permanent in this world. A
It entails a lot of mind blowing discussion and discourse would be take place in considering the idea.
It entails a lot of mind blowing discussion and discourse would be take place in considering the idea.
I don't think so that bitcoin will displace Fiat until hundreds of years. Fiat system is running from so many years that now every one is well aware about it and Fiat system is in everyone's reach. Comparing to bitcoins, it is crypto currency requires Internet have not any physical existence, many companies still not accept it as payment, fluctuates a lot in prices. Talking about Fiat it's more reliable according to people, bitcoin although offers so many advantages than Fiat, still people has more fall towards Fiat. I don't think bitcoin will replace Fiat, it may possible that more and more advancement come in bitcoins and people and companies accepts it as a payment system too.
Fiat currency is the need of many economies.
Developing nations as well as third world countries can't afford digital currencies.
They don't have adequate setup of electricity, internet connections, mobile phones are used as a medium of communication only.
Economies of many countries are worst affected by civil war and terrorist activities.
In such countries paper currency is the only option. Developed nations have developed economies so they can use digital or crypto currencies. They can replace fiat currency by bitcoin. But it will take time.
Exactly, bitcoin can only help to fast track online transactions and that would help money from different countries coming in easily.Developing nations as well as third world countries can't afford digital currencies.
They don't have adequate setup of electricity, internet connections, mobile phones are used as a medium of communication only.
Economies of many countries are worst affected by civil war and terrorist activities.
In such countries paper currency is the only option. Developed nations have developed economies so they can use digital or crypto currencies. They can replace fiat currency by bitcoin. But it will take time.
With wallet to wallet transaction using a decentralized system it can be cheaper than a normal bank transaction that is why some will prefer bitcoin
but fiat is always the choice of majority of people.
Fiat currency is the need of many economies.
Developing nations as well as third world countries can't afford digital currencies.
They don't have adequate setup of electricity, internet connections, mobile phones are used as a medium of communication only.
Economies of many countries are worst affected by civil war and terrorist activities.
In such countries paper currency is the only option. Developed nations have developed economies so they can use digital or crypto currencies. They can replace fiat currency by bitcoin. But it will take time.
Developing nations as well as third world countries can't afford digital currencies.
They don't have adequate setup of electricity, internet connections, mobile phones are used as a medium of communication only.
Economies of many countries are worst affected by civil war and terrorist activities.
In such countries paper currency is the only option. Developed nations have developed economies so they can use digital or crypto currencies. They can replace fiat currency by bitcoin. But it will take time.
Bitcoin hasn't been adopted for daily life functionality. So there are still limitations, although some country accepted bitcoin so make easier to use. But not all of them. This is a weakness of bitcoin for this time. So, fiat still unreplaced by bitcoin as a means of payment.
Bitcoin is for online transaction only and since it was considered by the government as a payment system it can never be a money like fiat money. This would be useless if people are not using it as it's real value relies on fiat, people who owns bitcoin would only be happy if they can convert their bitcoin to fiat anytime and that makes fiat more powerful.
Bitcoin is even better if work is put into it to produce it. This makes it great to save.
However, one should get bitcoins by mining or buying bitcoins with other kinds of money. It ends up being a pretty complicated process.
Until we reach bitcoin because with cash.
However, one should get bitcoins by mining or buying bitcoins with other kinds of money. It ends up being a pretty complicated process.
Until we reach bitcoin because with cash.
Bitcoin hasn't been adopted for daily life functionality. So there are still limitations, although some country accepted bitcoin so make easier to use. But not all of them. This is a weakness of bitcoin for this time. So, fiat still unreplaced by bitcoin as a means of payment.
Yes I'm sure with that, because fiat is the daily needs of all people in the world. Some people work harder and harder to get a lot of fiat to survive their daily needs in their life.
While bitcoin is newly currency that stating to become famous in crypto community.
While bitcoin is newly currency that stating to become famous in crypto community.
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