Post
Topic
Board Economics
Re: Bitcoin can not replace fiat
by
justdimin
on 18/03/2017, 16:04:17 UTC
There has not been a country that officially approved the use of bitcoin, the main factor because they are still using fiat money for all transactions. Bitcoin will never replace a fiat money because bitcoin is decentralized and could not be in control.
Yes exactly and why the hell do we need something to replace fiat ?

I mean bitcoins can work along with them, the main worth of bitcoins is that today you can easily exchange them for fiat and if fiat is the one that is removed then first of all can only happen in hypothetical situations since government needs funds to run and execute.
Then if even it's replaced then how the price would be determined of bitcoins ?