Quote from: carter34 on May 09, 2019, 11:50:04 AM

Quote from: Peter Jack on May 09, 2019, 10:57:45 AM

Will bitcoin ever replace fiat currency? question is like will the internet ever replace the fax machine or not?.

Even with my view that bitcoin might not totally replace fiat, I think that your analogy with fax machine and internet on one side and fiat and bitcoin on the other side does not correlate. Fax is what is consider now as old fashion because internet has totally replaced it, in fact not even internet but computer has taken the roll of the said fax functions.

As for fiat, it is used currently while bitcoin is yet to be accepted, bitcoin as it were, plays the digital roll for just few people. So the comparison isn't adequate.

I agree. I think more than replacing fiat, cryptocurrency has a higher chance of rising up to its level to be able to compete with it in the global currency market. That's a more attainable goal for cryptocurrency rather than eyeing for it to replace fiat totally. As much as we support it and know the good it can bring, we cannot discount the reality that fiat is a more trusted and more reliable type of currency that most people trust, especially when talking about their localities, so it would be very difficult to change people's minds about it, especially the older generations.