Re: Bitcoin can not replace fiat

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.

Well there are already countries that recognizes and is in approval of btc. I've read that the philippine central bank already does this. Though i agree with you on the part that btc won't ever replace fiat. Possible even that without fiat bitcoin wouldn't survive. That is at thia point but i don't think there would be a scenario where in it would have to be a choice between the two. We can work better with both anyways

i do not think that there is any single country where the government has consider bitcoin as legal currency. i think still some countries are thinking about it but still they do not consider bitcoin as legal currency.

but in future we can expect that the government will start thinking about bitcoin to consider it as legal currency of the world.

There are various problems that would occur given they allow bitcoins. The one and the biggest is hardly anyone would tell their actual worth since bitcoins can be traced if used anonymously.
Secondly you cannot do anything if user cheats each other, I mean there can't be any complaints since the sender is always anonymous in case a expert scams a newbie via double spend or something.