Post
Topic
Board Bitcoin Discussion
Re: Bitcoin will be used instead of paper money
by
MFahad
on 21/11/2020, 18:22:09 UTC
No matter how much I like Bitcoins , it cannot be used instead of paper money.

It's Volatile
It does need internet
We need to solve the transaction fee problem
There is still updates needed in lightning network
Bitcoins is not acceptable everywhere in the world
Many banks are not in favour of Bitcoins and thus they usually ban the accounts if they are being used
Bitcoin will need fiat for sure
We have people living without electricity and mobile phones what about them ?
What about old people and super young kids ? How will they be able to buy anything ??

All these tx fees issues will be resolved in future and when everyone will have bitcoins, there will be less volatility. Paper money will eventually end and it will only be the part of the history, although it may take some time for this transformation.