Bitcoin is an innovative idea that brings the concept of currency ownership to the peer-to-peer world. Everyone has fiat in one way or another, whether it be in actual coins and dollar bills, or credit.  If you have the cash and you buy something from another person, the only trails that lead back to you or those you leave on your own. Bitcoin is a very volatile currency. There are major price swings (whether it be up or down), and this can even happen on a day to day basis. But the chances of it taking over the fiat world are pretty much non-existent.