I think fiat and BTC can never compete because the biggest difference between fiat money and BTC is that fiat money can be used by uneducated people but BTC can't. While BTC requires education and experience, there are no such requirements or difficulties for fiat money. Also, fiat money is used to buy daily things and not BTC.

Yes, it can be said that those who keep money in fiat should buy BTC instead if they are aware of BTC because the money kept in the bank cannot give as much profit as the BTC can. You buy BTC and can keep the BTC for the future as BTC has proven from its past that every year BTC price goes higher. From now on, BTC will only give profit to its users, so instead of keeping it in banks, BTC should be bought and kept.

So far this thread received mixed kind of response and I want to reply to most of the replies but I am too lazy to do that so I am leaving it's upto you to decide what and how it is.

My point is very simple people using USD for very long time but I am pretty sure 99.9% will not be aware of this things so for us to use Bitcoin we don't need to be a geek or expert it can be adopted by anyone with basic knowledge, might take a while to get used to the spending but it does really worth it instead of these bill of exchange.

Bitcoin is money so does Gold and others but USD or other fiat is not money it's bill of exchange.

You also do not need to be an expert on what goes on behind the scenes before you use fiat, a lot of people who use BTC do not also understand its technical aspects. I don't get your points, and this post hasn't made it any clearer, i am pro BTC, but fiat has its own purposes and it is what the majority of people use as a medium of exchange.

We can also argue that BTC is a riskier currency to use without having enough knowledge of it, because you are the one in control and responsible for your own security. However, when using fiat, you simply have to keep it in the bank and allow them keep it safe for you.

A common man as you said who is not a bitcoin fan will always have bitcoin complicated not until they are obligated to accept the technology and only then they can have that interesting fact to study about it and accept that fact that bitcoin is not complicated add the fiats because because has its trace of origin and we know total number of bitcoin created, so we also know total mined, transactions as visible and so also, it is obvious to have the potentials to store of values but we know nothing about the fiat apart of it as a centralized funds for goods and services exchanges.

If you really know the history of fiat, you will have an idea about how volatile they are and not to be trusted in terms of long term investment especially when the world is on the brink of another world war. That's why most investors are relying on Gold and Silver because for them these are the only real money and it won't decrease its price no matter what happen.

But sine we already have Bitcoin nowadays it is more preferable and convenient to have because you don't need to worry about transferring it no matter where you are as long as you have internet connection. Also the important thing is to easily bring it with you without even letting the others know you have them.

Oh really?Let's compare using a card with a wallet!
I enter the store, I put my groceries on the table, I swipe my card , I'm out!
With btc, I enter the store, I go to the cashier, I have to see how much that is bitcoin, I have to input the amount, select the fees, have to look at the mempool, be careful for the value not to slip as I might underpay...
Are we even comparing the two?

The only solution to make it simple would be a 3rd party but that would kill the idea of p2p!
Some need to understand that BTC was not designed to be easy to use, it was designed to be a p2p currency, just as how torrenting isn't as easy for the average Joe as pushing the Netflix button on the remote, Bitcoin isn't as easy to utilize as a credit card for the masses!


It's the same paperwork and even more if you accept Bitcoin, you still need a company, you still need a business license, you still need to file taxes and an accountant! What you're suggesting is working unlicensed and doing tax evasion!
But let's drop the obvious arguments!
If BTC would be that simple, and if we have 20% of the population owning crypto, why don't we have even 1% of the shops in major cities in the Western world accepting crypto? Pretty obvious answer!

I guess every person who is not knowledgeable on what he’s going to use will find it difficult and complicated. Same applies to fiat and bitcoin. People will definitely find fiat complicated if they don’t master its usage, but since fiat has been here more than a century then it’s expected that fiat mastery is high compared to the newly created bitcoin. No wonder why majority still prefer fiat over bitcoin when it comes to payment purposes.

Cash is the easiest way to use money in society but the elderly have more problems of using fiat currency in digital space like bank transfer. Bitcoin and cryptocurrency with blockchain technology can help the young and middle age but for the elderly, they will mostly feel so hard to learn, accept and actually use it.

Life is continuation of development, changes and generations replace each other as momentum in society. The technology is for everyone but do the elderly use it, it depends on them. Like whether they use smart phones, social media and more modern things, if they can learn and change themselves, they can adopt to most modern and latest technological developments in the world.

The story of advantage and challenge to the elderly with Bitcoin, cryptocurrency is almost the same.

We can also argue that so many people know nothing about the technical aspect of BTC, and even the basic part is still hard for a lot of people, because we still have people who overpay in tx fees, or people who underpay and have their tx stuck for weeks; there are also those who lose their funds kept in an online wallet, because they don't know what is cold storage.

Fiat system is centralized, there is a central authority in control, and traditionally people find such system easier to interact with. BTC is decentralized, you have the responsibility of doing things yourself, and majority of people find such a system more complicated.