Not sure if this has been posted here before. This video is a debate between Peter Schiff and Erik Voorhees about whether or not bitcoin or another crypto currency will eventually replace gov fiat money as an exchange of value.
The moderator is clearly biased and quite annoying with his interruptions but the debate is really fascinating (well, for me anyway). Who here has watched it and does anyone like Peter:) ?
https://www.youtube.com/watch?v=q8R71WGO3qUEnjoy.
Why people are not able to realize that cryptocurrencies or Bitcoin can never replace fiat currencies. I think it is impossible. The present system of currencies being used as a medium of exchange is very simple. But cryptocurrency market is quite complex which makes it unsuitable to be used as a currency. There are many features of cryptos that have to be considered like decentralization, unregulated, no fixed standards, etc.