Quote from: player514 on December 30, 2017, 05:41:23 PM

Quote from: bitcoinblog on December 18, 2017, 04:49:58 PM

From many months i am thinking about what if " we remove fiat system , and change things into crypto " .. What are the main difficulties we will face ?

1. Internet every where is not yet done.
2. Awareness with Crypto ( but its not a big thing, as most are aware of how to use currency. )
3. Bitcoin is only 21,000,000 and world population is more. ( This can fix by other altcoins same like USD/RUB/CNY etc )

What other difficulties we can face ?

Sure Bitcoin may be a solution, but I definitely think it's far from ideal. Beyond just the first point, not only do people need internet, but they also need access to some electronic device to keep their wallets in tact and remember everything. Furthermore, a problem arises in the transaction fees and confirm times. If there's a backlog of transactions, people with micro transactions often need to spend more for fees than the transaction itself. This needs to be fixed before Bitcoin can be scaled up.

It is really far from it and even though bitcoin and most of the cryptocurrencies will be in play for now, that does not mean it would just replace the fiat system easily like that.

The governments know this is an unregulated environment and even if they cannot stop it, the volatility based on that non regulation is always going to be in play and that would make it uneasy to use it as a currency in the long run, but I may be wrong, anything can change.