Post
Topic
Board Economics
Re: Bitcoin can not replace fiat
by
greBit
on 28/05/2016, 09:05:58 UTC
Currecy that depend on fiat anyway can't replace it, and bitcoin also can't become fiat currency, cause in many countries it's still illegal for using.

I think fiat will always be fiat, like we know it today. I don't think much will change about it. I just don't think bitcoin can replace fiat. The only way this would happen is if all the governments worldwide would adapt to it. Which I doubt that they would.

Governments will never support bitcoin, they will support only their local currency they don't want to loose their control on the money and they will never allow bitcoin to be a primary currency.

I fully agree, but never the less I think BTC will be as common as fiat one day

That is possible that bitcoin will be common as fiat one day, but it won't replace fiat in anytime. It will depend if the government will try to
support bitcoins, but yeah, government will not support it since it is a threat to fiat money which is the main source of their living and daily usage.

Even if the governments do not make it a legal tender in their country, ordinary people can still use it.

Yes I agree with it, even without the consent of the government we can still use bitcoin as we want as long as their is a monetary value on it.
But, there is a chance that the government will just adopt it but it won't replace fiat for sure.

Government will never allow any digital currency to replace their own currency, that is simply impossible, and I don't think Government will ever adopt bitcoin in future.