Hi guys is there any chances bitcoin will replace fiat currency.
I think that there are no such chances for bitcoins and can not be. There are several reasons for this. First of all, bitcoin, like any crypto currency, is too volatile. Moreover, I think that the more its value rises, the greater the amplitude of its price fluctuations. This is evidenced by the December increase in the cost of bitcoin to $ 20,000 and its subsequent fall to a level of about $ 6,000. With this level of volatility, it will be impossible to plan and implement the country's budget, bitcoin will unbalance the economy of any strong state.
In addition, switching to the use of bitcoin as the only means of payment will mean a strong influence of those states in which bitcoin will also be used as money.
I agree with you completely. The extreme volatility of Bitcoin is the primary reason why crypto will never replace FIAT. Personally, I have faced hassles on multiple occasions while making online transactions through Bitcoin. I don't think crypto will ever replace FIAT, but Bitcoin will serve as an alternative payment method. With upcoming features like the integration of lightning network, mass segwit adoption etc, more and more people will utilize Bitcoin as an alternate payment option.