Bitcoin price is volatile and the user will look the chance to using it as an investment place. Other than that, there are many regulation who stated that bitcoin is being harmful to be use as a transaction tool, I think these problem will make the user didn't use cryptocurrency as payment system.
I will be happy if the regulation especially in my country that allowed the transaction can be use as payment system even I will make it as daily transaction since it will be useful as of now. The money paper is rare to be use, such as in my country there are many platform pupping up which provide the online transaction for example paying electrycity and etc.
Topic: Cryptocurrency will not replace fiat currency - page 10. (Read 2451 times)
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The real reason why bitcoin is invented is to make it as a real currency like dollar and euro but since majority of the people are making it as a good investment and never really use it in most of their payments, so bitcoin remains as an alternative currency next to fiat. Crypto will gain more recognition in the next years but replacing fiat for crypto is still very impossible for now to happen.
Actually it's fine if bitcoin is being used for investment. There are many people out there who invest to fiat for example USD and Euro but the problem which bitcoin faces is the fact that most of people who use bitcoin prefer to use it as an investment rather than spending it and I can see that people who truly use it for making an online transaction is quite few compared to majority of bitcoin users meanwhile those fiat investors are only minority. 
Fiat money usage around the globe is very common. People need to be educated to use cryptocurrencies, as everything associated with cryptocurrencies is connected. Now the usage of cryptocurrencies with time keeps growing, but the same hasn't reached the level to go mainstream. It takes time, maybe after few generations this can happen and until then cryptocurrencies will serve as alternate to the fiat.
yes, it is impossible because crypto and fiat are clearly different. fiat has intrinsic value, whereas crypto does not. besides that, crypto is also very volatile and very different from fiat, and crypto will be difficult if used as a primary payment. I think crypto is more suitable for use as an investment asset or a secondary commodity.
satoshi makes bitcoin not for investment, as you say. satoshi made it to solve complaints with third parties. investments arise from private holders. Why,? because the holders see a limited bitcoin supply, and have a difference to get it. unlike fiat which is printed without borders. bitcoin is mined with certain difficulties, and the more difficult it will get. this is where the bitcoin holders assume. they consider this to be a commodity rather than having to assume a currency. because demand is getting bigger, while supply is getting smaller.
That's their goal and to make money within the short term. They are into coins like that but they don't know the full history of that forked coin from BCH and another forked coin from Bitcoin. The mission of satoshi for creating bitcoin is truly to make it a decentralized currency for payments but it has changed all of a sudden over time because it has created a value that we see it keep growing from time to time. So for the investors' perspective, they are okay buying it as an investment but they should also use it as a currency.
maybe some countries think bitcoin is a payment tool that will replace fiat, because satoshi made Bitcoin / cryptocurrency might be created to aim at creating a digital payment instrument, in an era where technological advances are growing, and why some consider bitcoin is one of the best investments because, it can only done online, whereas if fiat was created for real payment,
The real reason why bitcoin is invented is to make it as a real currency like dollar and euro but since majority of the people are making it as a good investment and never really use it in most of their payments, so bitcoin remains as an alternative currency next to fiat. Crypto will gain more recognition in the next years but replacing fiat for crypto is still very impossible for now to happen. maybe some countries think bitcoin is a payment tool that will replace fiat, because satoshi made Bitcoin / cryptocurrency might be created to aim at creating a digital payment instrument, in an era where technological advances are growing, and why some consider bitcoin is one of the best investments because, it can only done online, whereas if fiat was created for real payment,
So many people are in demand to use bitcoin as a payment system in the future and those countries are getting threatened caused by this thing. i think the satoshi's vision is not only created the payemnt instrument but the freedom to our financial to leave the centralized system that gives a lot of limitation for us to control our money. Remember some are still seeing bitcoin as commodity too. But the possibility to replace fiat is only a small percentage caused by it has backed by the regulators and financial institution. Im aware about the regulation is the main thing that still becomes the opposite thing to the crypto.
maybe some countries think bitcoin is a payment tool that will replace fiat, because satoshi made Bitcoin / cryptocurrency might be created to aim at creating a digital payment instrument, in an era where technological advances are growing, and why some consider bitcoin is one of the best investments because, it can only done online, whereas if fiat was created for real payment,
Now there is such a time in the market when the market allows you to earn good money on the volatility of coins and it would be very foolish not to use what the market gives you. many people who invest in altcoins also believe that bitcoin is the best coin, but it is obvious that now it is not yet developed enough to be a payment tool anywhere in the world
The world started to gain awareness on bitcoin particular on the system that it's has been used. Volatility of this coin was based on the dollar rate, so there's no problem if people adopt it as their main currency. However, fiat replacement cannot be fulfilled that easy, because there were some situations that we needed to use paper money or fiat cash on specific goods that's inaccessible by internet.
~~ Why man? Why don't we look into a decentralized coin? Why do we only take it as investment? Did Satoshi ever take it as investment? Or he invented Bitcoin for borderless payment and solution to the intermediaries problem?
You are right, one of the reasons is to unravel the complexities of third parties and provide freedom. However, most people tend to use it as an investment tool and commodity trading because it is indeed the most effective, BTC and other altcoins have high volatility so it is not easy to set it as a price for an item or service, which is why other innovations, namely stable coins such as USDT, appear.Moreover, this is still the initial stage, there are still many innovations and developments being carried out, after all, most governments still cannot accept cryptocurrency in full, there is economic independence that must be maintained as a form of existence of a country's leadership, and that we must understand. Use as necessary, take the benefits.
As a matter of fact to some extent it can be so, since fiat currency is a currency that has legally back up by a government of a country, but in the situation where government legally back in all the country of the world it can replace fiat currency in all country of the world since it can serve as a medium of exchange for goods or service bought
Look at what happening around. The first cryptocurrency bitcoin was invented to reduce the hassle of third party and have borderless transaction. Isn't it true? Now, look at what happening. People are more into investing it than using it as currency.
Well said although you don't have to point fingers to just the community instead the developers who should be the major advertisers of the utility of the currency are the one headlining the advantage of investing in cryptocurrency in regards to making profit. Bitcoin and cryptocurrency can serve as both Investing opportunities and as currency but since the investment aspect is currently making wave that's why it's more popular.
Now there is such a time in the market when the market allows you to earn good money on the volatility of coins and it would be very foolish not to use what the market gives you. many people who invest in altcoins also believe that bitcoin is the best coin, but it is obvious that now it is not yet developed enough to be a payment tool anywhere in the world
Personally, I believe that cryptocurrency is a terrific invention of digital currency. And this will provide great opportunities for financial transactions. Digital currency can be transmitted around the world and at the same time practically do not lose big commissions. In many cases, digital currency is very indispensable and provides great opportunities for payments. Accordingly, the fiat currency is also necessary and requires special attention. Since digital currency can be converted into fiat and used for its intended purpose.
Yes your right we should use it as a currency also but i thing they should make it easier for people by adding it in different used plateforms like online stores and in regular stores and to purchase any product.
Well explained, you nailed the points!
The USD is still main store of value currency by the majority of the world population/governments. The crypto ecosystem is far from reaching these levels due to the gaps in the system. For example, as a payment method using BTC is not efficient but there are altcoins that have the highest transaction per second rate. This TPS is not enough for accepting it as a mean of payment but there is no better alternative, unfortunately.
USD is a globalised currency so it will accept entire world and most of the peoples are holding the USD because of globalising currency will never die on forever. But cryptocurrency is a good growing currency so those are invest Bitcoin and altcoin they are all earn good profit. So it is too risky on every time and everyone know, Crypto will never replace the fiat currency but market technology improve simultaneously so anything happen on future world. The USD is still main store of value currency by the majority of the world population/governments. The crypto ecosystem is far from reaching these levels due to the gaps in the system. For example, as a payment method using BTC is not efficient but there are altcoins that have the highest transaction per second rate. This TPS is not enough for accepting it as a mean of payment but there is no better alternative, unfortunately.
Look at what happening around. The first cryptocurrency bitcoin was invented to reduce the hassle of third party and have borderless transaction. Isn't it true? Now, look at what happening. People are more into investing it than using it as currency.
Most interesting is people are most interested in coin which give more ROI, they are not interested in the currency-ish of a currency.
For example, some people are talking a lot about BSV, but if they have some research, they will never take it as currency, but as this is giving a good return now, it's best for them. Why man? Why don't we look into a decentralized coin? Why do we only take it as investment? Did Satoshi ever take it as investment? Or he invented Bitcoin for borderless payment and solution to the intermediaries problem?
Most interesting is people are most interested in coin which give more ROI, they are not interested in the currency-ish of a currency.
For example, some people are talking a lot about BSV, but if they have some research, they will never take it as currency, but as this is giving a good return now, it's best for them. Why man? Why don't we look into a decentralized coin? Why do we only take it as investment? Did Satoshi ever take it as investment? Or he invented Bitcoin for borderless payment and solution to the intermediaries problem?
You do have a point. But as of now, crypto being a currency or just mainly an investment asset already depends on how an individual perceives and uses it. Maybe most of us are seeing it as a currency which is made to break down the issue for a third party and to provide convenient and decentralized currency experience. But there are people who look cryptocurrency mainly as an investment asset which serves as an income generator only and not actually a currency at all. We cannot blame them because cryptocurrency is flexible enough to act depending on how we wish to use it and how we need it on our daily life basis. I agree that cryptocurrency cannot replace fiat because both are acting based on how they supposedly be and to maintain the balance in the economic sector. Fiat and cryptocurrency have their own unique features which makes them different not just in platform but as well with their usage. No one must be replaced nor eliminated among those two because both have their own roles to play in people's lives. We just need to sort out how we can incorporate on using fiat as is and cryptocurrency as is without overlapping each other's roles.
Look at what happening around. The first cryptocurrency bitcoin was invented to reduce the hassle of third party and have borderless transaction. Isn't it true? Now, look at what happening. People are more into investing it than using it as currency.
Most interesting is people are most interested in coin which give more ROI, they are not interested in the currency-ish of a currency.
For example, some people are talking a lot about BSV, but if they have some research, they will never take it as currency, but as this is giving a good return now, it's best for them. Why man? Why don't we look into a decentralized coin? Why do we only take it as investment? Did Satoshi ever take it as investment? Or he invented Bitcoin for borderless payment and solution to the intermediaries problem?
Most interesting is people are most interested in coin which give more ROI, they are not interested in the currency-ish of a currency.
For example, some people are talking a lot about BSV, but if they have some research, they will never take it as currency, but as this is giving a good return now, it's best for them. Why man? Why don't we look into a decentralized coin? Why do we only take it as investment? Did Satoshi ever take it as investment? Or he invented Bitcoin for borderless payment and solution to the intermediaries problem?
Well major adoption is gonna surely happen, but I can't still see it yet as something that would replace fiat. I had read this thread in the Bitcoin Discussion, almost the same as this topic. In the end, people would still convert BTC to USD unless we get that 100% adoption around the globe. It is still quite possible for fiats to be replaced, but people seemed to be got used to the traditional way of paying and making a transaction.
this is just something that is still measured by opportunity, and the crypto community places more emphasis on investment opportunities.
if there are many income methods circulating in the crypto world as sustainable jobs, then most people will not only think about investing, but this opportunity is still very rare for the whole. They also don't use it as a currency because nothing can be done on a wider scale of use, all of which are still covered by fiat.
if there are many income methods circulating in the crypto world as sustainable jobs, then most people will not only think about investing, but this opportunity is still very rare for the whole. They also don't use it as a currency because nothing can be done on a wider scale of use, all of which are still covered by fiat.
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