Topic: Bitcoin never replace Fiat Money (Read 785 times)
It would be hard for bitcoin to totally replace Fiat as first more people would have to use bitcoin and by use I mean not just hold once more and more of us are actually using it for daily spending it would become more of a currency.
In my opinion, it should never replace fiat money. Be better and be another currency where crypto community uses as payment like gold. Gold is like bitcoin or altcoins, we could exchange it forfiat money which are used for countries, like gold, gold community can use it as a payment. We are like other branches of community with our own norm.
Bitcoin will never replace fiat, because first of all fiat is controlled by the government and no government will allow bitcoin to replace fiat. But the uses of bitcoins will be increase by the time for sure.
I think bitcoin will not replace fiat as long as it has such volatility. Most likely, the crypto currency will receive some development and this development will replace real money.
Anyhow still bitcoin is the online currency and it's not the currency that can be transacted offline like fiat money. I don't think at all that bitcoin is intended to replace fiat money in the future, it will not happened I guess. Bitcoin just will remain an alternative currency which only moves in cyberspace that continues to accompany fiat money forever across the countries.
Some countries are also exploring the idea of introducing government-backed cryptocurrencies, which would take them one step closer toward fiat-currency status. 
As Russia, India, and Estonia are considering their own digital money, Dubai has already taken it one step further. In September, the kingdom announced that it has signed a deal to launch its own blockchain-based currency known as emCash.
So ask yourself, how can you effectively hedge against a fiat money system with another type of fiat money?
BTC
As Russia, India, and Estonia are considering their own digital money, Dubai has already taken it one step further. In September, the kingdom announced that it has signed a deal to launch its own blockchain-based currency known as emCash.
So ask yourself, how can you effectively hedge against a fiat money system with another type of fiat money?
BTC
I don’t think Bitcoin purpose is to replace fiat money. In any case, governments will not allow a currency which they can’t control to replace its country fiat.
Bitcoin cannot replace fiat and that is a fact.
Bitcoin is not a currency, it just functions as one. And it is just used for alternative of banks and currency.
Just like what I have said, bitcoin can not replace gold, therefore, it is not possible for bitcoin to replace fiat.
Fiat is distributed in each country according to its economical status IMO, correct me if I am wrong.
What's great about bitcoin is that it functions are very flexible. Let us encourage it's growth and have it not compared to things very different to it. Also, both fiat and bitcoin complements each other. Like for example, ETH and BTC.
Bitcoin is not a currency, it just functions as one. And it is just used for alternative of banks and currency.
Just like what I have said, bitcoin can not replace gold, therefore, it is not possible for bitcoin to replace fiat.
Fiat is distributed in each country according to its economical status IMO, correct me if I am wrong.
What's great about bitcoin is that it functions are very flexible. Let us encourage it's growth and have it not compared to things very different to it. Also, both fiat and bitcoin complements each other. Like for example, ETH and BTC.
I believe bitcoin can replace money, not today or tomorrow but some time in the future. Bitcoin is far superior to fiat.
believe it or not, things in the real world are not like "either this or that" aka black and white. there is a whole lot of possibilities that can happen. not just either replace fiat or be dead situation!
bitcoin is a currency and will grow as such. it will be used more as a decentralized money by many, it has already started slowly and got fast when Japan adopted it as a legal way of payment and removed the taxes on bitcoin payments. however the Japanese JPY didn't die or be replaced by bitcoin just because people are now using bitcoin as payment! they are working separately. and both are beings used.
bitcoin is a currency and will grow as such. it will be used more as a decentralized money by many, it has already started slowly and got fast when Japan adopted it as a legal way of payment and removed the taxes on bitcoin payments. however the Japanese JPY didn't die or be replaced by bitcoin just because people are now using bitcoin as payment! they are working separately. and both are beings used.
ever thought that someday bitcoin will be able to replace fiat money, but do we ever realize that just like the gold that was already present far thousands of years ago in this world, gold is really a selling point even been recognized by all world. everywhere in the world recognize that gold has value selling, even history records that the gold had been in use as currency in some country many years ago. Even gold used as estab back up from a value of paper money or fiat, of history that already happened, even gold which is already recognized his value by the whole world can not replace the fiat money, especially if compared with bitcoin is still regarded as something new in comparison with gold, and in my opinion, bitcoin will continue to exist and continue to have sale value even price will be many-fold from today. but the same as gold, bitcoin will never be able to replace fiat money, bitcoin will only be a companion of fiat money.
Because to be able to buy or own bitcoin we still have need of fiat money which we will transfer to the exchanger website to be able to buy bitcoin.
What do you think???
Because to be able to buy or own bitcoin we still have need of fiat money which we will transfer to the exchanger website to be able to buy bitcoin.
What do you think???
I believe that Bitcoin can be the universal currency but it cannot replace fiat money. It is the means to buy Bitcoin. I think that Bitcoin will be the most use currency in the future without replacing fiat money. Everything will be digital in the future. Fiat money can co-exist with Bitcoin. We will use fiat money to buy Bitcoin and then we will use Bitcoin for most of the transactions, that's what I think will be the set up in the future.
I agree, I also think like you, bitcoin will never be able to replace fiat money because of its limited number and the hardships of ordinary people who have not been touched by the Internet world is one of the obstacles, and bitcoin can only be owned for those who understand and understand about bitcoin itself,
it's probably not going to happen right now. but imagine what will happen in the future when things have become more sophisticated and things are already digitized. Bitcoin is very possible to be used thoroughly, we will not know what will happen in the next 40 years. but surely technological developments will continue to increase and we all believe there will be a significant change in this life. Believe that everything in the world will get easier and faster. The present year is very different from the beginning of the 19th century and the 22nd century will be very much different from now. 
I agree, I also think like you, bitcoin will never be able to replace fiat money because of its limited number and the hardships of ordinary people who have not been touched by the Internet world is one of the obstacles, and bitcoin can only be owned for those who understand and understand about bitcoin itself,
Bitcoin will likely remain the base standard or gold standard of crypto and the smaller easier/cheaper alt-coin to be widely used for everyday commerce (buying bagels). Fiat will be limited to local applications where using your hand-held isn't practical. There will be ATM's which dispense fiat.
Bitcoin will be the vehicle to store value. Fiat no longer serves this purpose, in fact the more fiat you hold the more of your wealth is eroded by government. People have been painfully aware of this for years.
Only now with bitcoin there is a secure and accountable option of not being stuck in government fraudulent monetary systems.
Bitcoin will be the vehicle to store value. Fiat no longer serves this purpose, in fact the more fiat you hold the more of your wealth is eroded by government. People have been painfully aware of this for years.
Only now with bitcoin there is a secure and accountable option of not being stuck in government fraudulent monetary systems.
Cannot agree more
Bitcoin will only be alternative currency (perhaps will be main currency in online transaction)
We have gold as alternative which is already established centuries ago and still proven to be the most effective currency so far stable price and accepted worldwide
Bitcoin will only be alternative currency (perhaps will be main currency in online transaction)
We have gold as alternative which is already established centuries ago and still proven to be the most effective currency so far stable price and accepted worldwide
ever thought that someday bitcoin will be able to replace fiat money, but do we ever realize that just like the gold that was already present far thousands of years ago in this world, gold is really a selling point even been recognized by all world. everywhere in the world recognize that gold has value selling, even history records that the gold had been in use as currency in some country many years ago. Even gold used as estab back up from a value of paper money or fiat, of history that already happened, even gold which is already recognized his value by the whole world can not replace the fiat money, especially if compared with bitcoin is still regarded as something new in comparison with gold, and in my opinion, bitcoin will continue to exist and continue to have sale value even price will be many-fold from today. but the same as gold, bitcoin will never be able to replace fiat money, bitcoin will only be a companion of fiat money.
Because to be able to buy or own bitcoin we still have need of fiat money which we will transfer to the exchanger website to be able to buy bitcoin.
What do you think???
Fiat is easier to use than gold, and ease of use (mostly coming down to the various sizes that an item can be divided into, gold having this be difficult due to the value of bars and rounds being tied primarily to the entirely of their weight) trumps most other factors when it comes to the average person. Bitcoin is kind of a mix between easy to use and more challenging than fiat, mostly because people have to actually think a bit when they use the network. But that's beside the point.Because to be able to buy or own bitcoin we still have need of fiat money which we will transfer to the exchanger website to be able to buy bitcoin.
What do you think???
The other big factors are cost effectiveness, which Bitcoin is incredibly good at, and speed of transactions, which Bitcoin is good for in some regards and not so good in others. International transfers are way faster when using Bitcoin, but slower than a credit card or cash.
Yes.Bitcoin could not replace fiat money in any way even if its price and usage increases.Even nowadays,bitcoin is mainly bought by people as a high return giving digital asset and most o them don't want to spend it jut as a currency.Despite how much popularity it gets,bitcoin would be used as a secondary currency.Bitcoin is not accepted by all governments and also,illiterate people would not be able to use bitcoins.So,fiat currency would remain the first option.
Every single type of fiat money that has been introduced over the thousands of attempts over thousands of years has always failed.
100% of the time.
Over the past couple of hundred years, the global reserve currency (not 100% fiat) has lasted 40 years on average... now we are over due since 1971 for the next change from this pure fiat system to something else.
100% of the time.
Over the past couple of hundred years, the global reserve currency (not 100% fiat) has lasted 40 years on average... now we are over due since 1971 for the next change from this pure fiat system to something else.
The answer is no i guess because decentralized cryptocurrency like bitcoin will have trouble reaching price stability. Should wages and prices have been denominated in bitcoin rather than dollars, pounds, yen, etc., there would have been
90% deflation in a couple of months in 2013.
66% inflation over 2014.
Price stability in 2015.
50–60% deflation over 2016.
Even the crudest measures of inflation with major currencies would not have shown such volatility.
The reason for the volatility is bitcoin has essentially a fixed monetary base as discovering bitcoin became more computationally difficult. At the very least, the monetary base is set by math, hardware resources, etc.For this reason, I don’t see how a decentralized, anarchist cryptocurrency could take off. Some central authority has to make decisions to increase or decrease the monetary base to get price stability.
I do see the possibility of cryptocurrency’s features being used somehow in the future, but by more centralized and coordinated actors
90% deflation in a couple of months in 2013.
66% inflation over 2014.
Price stability in 2015.
50–60% deflation over 2016.
Even the crudest measures of inflation with major currencies would not have shown such volatility.
The reason for the volatility is bitcoin has essentially a fixed monetary base as discovering bitcoin became more computationally difficult. At the very least, the monetary base is set by math, hardware resources, etc.For this reason, I don’t see how a decentralized, anarchist cryptocurrency could take off. Some central authority has to make decisions to increase or decrease the monetary base to get price stability.
I do see the possibility of cryptocurrency’s features being used somehow in the future, but by more centralized and coordinated actors
ever thought that someday bitcoin will be able to replace fiat money, but do we ever realize that just like the gold that was already present far thousands of years ago in this world, gold is really a selling point even been recognized by all world. everywhere in the world recognize that gold has value selling, even history records that the gold had been in use as currency in some country many years ago......
There are several kinds of Fiat. These paper bills, your online banking, the bank in your town. Depot value.
Gold comes as jewellery, bullion coins, gold ingot.
Bitcoin probably has a million altcoins.
Just that "replacing" thing does not happen, never did anywhere. Once something of value has proven to be tradeable it just pertains. If another thing pops up it stays next to that, too. There are no replacements.
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