Will Bitcoin Accelerate the End of Fiat Currency?

[emma.lee1890]

That is a really great show for any crypto enthusiast who is still skeptic about the future of cryptos right at this moment. Though I thought cryptos had the power to become a substitute for fiat currency but after listening to such in depth discussion now I am starting to believe that replacing fiat currency is now just a matter of time. Listened to the full show and to be honest I cannot agree with everything you guys have discussed. Though there were some good insights regarding the current crypto market and how fiat is lagging behind in terms of features that are being offered by BTC but the who discussion sounded like some overly enthusiastic kids got their hands on their first Bitcoin and now they want to conquer the world with it.

[Fenix]

No, fiat will exist as long as there are many states on our planet with their own financial and economic interests. Cryptocurrency is not able to accelerate the fall of conventional currencies or replace them. Cryptocurrency can go in the state only simultaneously with the national money of the states and no more. No state will ever give up their national money in favor of decentralized cryptocurrency. National money of the state interacts with the economy of this state, and the cryptocurrency does not possess this ability.

[bhm45]

No bitcoin or crypto for that matter won't make fiat disappear, but it could be a good alternatives. Just look at how Venezuelan's adopt crypto because its fiat has been hyperinflated. Even Japan, who embraced bitcoin is not discounting their Yen. And as long as there are government and central banks, fiat will exist. There might be cashless society in the future but it doesn't mean that fiat will be totally eliminated and out of the picture.

[Munareal]

Fiat currency will not die becuase of Bitcoin both have their uses. The cryptocurrencies and fiat currencies can co-exist  and in harmony, Users get to choose they one they want to transact with.

[2019gantiforum]

Fiat money will remain a part of the country and will not be replaced by a digital currency, but digital currency as a means of transaction trading may occur as long as there is a comparison with fiat money

[yousufatik]

As long as there are countries there'll be governments and as long as there are governments there'll be money they control. It's not going to change.
Even if crypto became huge, governments will still pay out and demand payment in their local currency. There may come a time where people grumble about having to find an exchange to convert their crypto to pay their tax bill, but that tax bill will always be in fiat.

[bdsharminsoltana]

it is not going to happen. for years people have been talking about the fiat doom and it has never happened and it is simply because fiat is being used even if there is debt and all that it will affect the country and the value of that certain fiat not the whole world's fiat currencies and it will definitely not kill fiat!
bitcoin's growth is just going to be an additional currency that is introduced and used by many people eventually. it doesn't have to replace anything, and it was never meant to replace fiat anyways.

[kamal420]

There are a lot of beliefs and perspectives that bitcoin will be the alternative currency to fiat currency in the future. Well, it easily to say that but we need to admit that it's very hard to implementing that or maybe if that is possible for sure it will takes much more years to do that because for now we known that there are some peoples all over the world that has no literally knowledge about this system until now and others are already knowledgeable to it but they can't afford to deal to it or to involved to it because of their poor life of living. However, there's a big chances that bitcoin will be very successful in the future maybe it's only needed more years to be a global currency because there's probably a lot of things that is needed to considered before implementing it.

[Alcor]

No, Bitcoin cannot accelerate the fall of ordinary currencies. He is not even able to influence the disappearance of the ordinary money of various states. All issues related to money are decided by the government. However, no government will give up its national money and will not replace it with a cryptocurrency.

[alltalk]

I disagree, I don't believe if bitcoin can replace Fiat. Why the bitcoin must replace Fiat? Bitcoin and Fiat can make global finance stronger with multi alternatives. Fiat is irreplaceable till now, I am sure it will survive lasting. While bitcoin can support the Fiat with its advantages. So, no need to lose one of them.   

[gribble]

I don't think if bitcoin can replace Fiat money. Why does Bitcoin have to replace Fiat money? Bitcoin and Fiat can make global finance stronger with various alternatives. so I think Fiat money cannot be replaced until now, and I'm sure it will last a long time. because bitcoin can support Fiat money with its advantages.