Re: Could Bitcoin ever replace conventional money?

I think it is impossible to replace with conventional money, even the government alone is not possible to allow it.

Our governments can never allow this to happen that is why in some countries bitcoin has not be legalized because the see bitcoin
as a threat which can replace conventional money and lead to the collapse of the systems used to regulate cash flows.

to me when our people will put pressure on our government by using bitcoin in a large scale they will defiantly start thinking about bitcoin and will try to legalize bitcoin.

The fact is conventional money is much easier to regulate and is accessible to anyone unlike Bitcoin which limits everyone if you don't have the means to access the internet. I think that Bitcoin would rather stand, hand in hand, with the conventional money that will lead to economic growth and financial stability to its citizens especially those who use Bitcoin. Also Bitcoin would rather be use popularly in global field and online world as the major means of transactions which really is much probable than replacing the conventional money.

This is all my talking points in a nutshell. I don't think Satoshi ever wanted to replace fiat; the supreme understanding of money that created bitcoin would understand the necessity of fiat in a global economy. It's supposed to be an alternative damned near the opposite of fiat. Deregulated, decentralized, trustless and deflationary. They complement each other, and can strengthen each other when used in tandem, because they address the weaknesses of each other in their implementation (this was intentional).

Bitcoin is the yin to the yang of fiat Wink