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    Author Topic: Bitcoin has the potential to dominate fiats, what do you think?  (Read 455 times)
    BenCodie
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    May 30, 2025, 04:35:15 AM
     #41

    Bitcoin itself has many limitations that do not enable it to do so. The transaction fees are high; if the network is congested, then there are significant increases in fees and delays, while the majority of people are unaware of what it is, and an even smaller percentage know how it works.

    Even we in the forum don't use it for transactions, mostly because we consider it an asset, but also because it's inconvenient.

    Bitcoin fees are minimal at the moment and have been for a while, scaling through LN and through ongoing development in general has been working. In the forum, everyone who is wearing a signature gets paid in Bitcoin. Mos transactions for goods and services are in Bitcoin. What do you mean that the forum don't use it for transactions? That's false.

    This is true; this isn't the only reason. Like other users already mentioned, Bitcoin's initial purpose wasn't to replace fiat currencies but to coexist.

    Can you provide any source to validate this outside of what others are saying? Did satoshi or anyone who initially contributed to Bitcoin say this? As far as I'm aware, there was no explicit intention for Bitcoin to co-exist with fiat. I've never read such a thing. If anything, I've read more from early adopters and initial community member posts that it was to replace cash and compete/aiming to replace fiat, and bitcoin (+ blockchain) are both doing exactly that. Fiat is just starting to use the same technology (stablecoins) to survive (probably temporary, though ultimately I think fiat will merge into bitcoin and cryptocurrency down the long line, and USD fiat will eventually be as useful as a shitcoin (not very)).

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