Quote from: JollySkipper on January 17, 2018, 09:04:10 PM

Quote from: Parazyd on December 23, 2015, 02:54:15 PM

Yes, got you intrigued, didn't it?

Bitcoin is a very good thing to have as an asset. Just like gold. Even better if I may say. It's secure, and unlike fiat money it actually exists and work is put into it to produce it. This makes it great to store value.
However, it cannot and will not replace current fiat money that the entire world it using. It just cannot.
Take paying a cup of coffee for example. To pay your coffee with bitcoins, one must get bitcoins first, either by mining or buying bitcoins with other kinds of money (*cough*fiat*cough). It ends up being a quite complicated process, don't you think?
Until we reach the point where paying for a cup of coffee is as easy with Bitcoin as it is with cash, we will never get mass adoption. And as far as I see it, there is no way of simplifying the acquiring of bitcoins.

The problem with bitcoin is that became centralized, very manipulated by miners and whales and its price is also affected by media.
Bitcoin lighting network can solve the speed of the network but this will come at the price of more centralization that makes btc even worse.
The worse problem with BTC is its PoW which soon or later will make it unprofitable and useless.

Yes it is true that bitcoin cannot replace fiat currency as fiat is used by whole of the world.It is internationally accepted and all the transactions are done through fiat only.Fiat can be used anywhere and anytime unlike bitcoin which requires internet connection to operate it.Since it is decentralised,it is not legalised in many nations too.It is also very volatile and risky unlike fiat currency.