Post
Topic
Board Altcoin Discussion
Re: Will Bitcoin/ETH replace fiat someday?
by
Anonymous100
on 13/10/2021, 18:38:11 UTC
To fight against the control of USD thus create an anchor for people all around the global, or to make transactions apparent in cyber world, Bitcoin was coined by Satoshi(the second one is more valid).
Will the day come when everyone uses Bitcoin in daily payment(supposing new tech is applied to avoid high gas fee) and thus fiat gets abandoned? Or it won't because the amount of Bitcoin is set and all Bitcin is practically manipulated by capitalists...
Obviously , it's nearly impossible for Bitcoin to realize permant and global circulation due to its high price and scarcity, which renders it harder to take the place of fiat but it sounds that ETH is likely to be an anchor and a tool for daily use alike, surpassing BTC is feasible.
They say, if a country is at war or in upheaval, buying Bitcoin is not wise for its high volatility and USD is a better choice.
How do you think Smiley

If we say Ethereum is more feasible. Currently Ethereum transaction fees are a major complaint for traders. They cannot make transactions with low fees. Even though Bitcoin price is currently high, I think Bitcoin transaction fees are much lower compared to Ethereum. Bitcoin can make transactions for a fee of 10000 SATS, or about 5.7 USD. While the transaction fees on the Ethereum blockchain reach 0.002 ETH, or about 7 USD. As for token transactions, it reaches $20. So, how do you say that Bitcoin blockchain transaction fees are higher than Ethereum.