Cryptofaggots
(media.scored.co)
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But has it lived up to its goals?
Has Bitcoin replaced fiat currency?
Does it look like Bitcoin is going to replace fiat currency in the future?
Is it even a popular choice in payment processing?
Surpassed its goals i would say.. (Exchange capabilities are going to require a hard fork, btc needs to be able to process far more transactions per second. Foundation is already working on this).
Has it replaced fiat currency: 1 country so far.
Bitcoin or another stable monetary coin wlll ALMOST CERTAINLY replace printable fiat in the future. In fact, as long as bitcoin grows it IS replacing fiat.
electronic payments use cash. switching that to bitcoin is trivial.
There's no reason not to have both btw. But as you watch your fiat become devalued year after year while demand for widely used, secure, multinational cryptocurrency grows (because of it's inability to be printed on demand), you'll find cash only sticking around for tangible exchanges.
And when any printed fiats eventually fail and crash, as they inevitably do, BTC is your hedge. BTC will gobble up some currencies, and others will piggy back on BTC to survive.
We print money without backing. How long do/did you expect that to last? In every respect, BTC is better than USD.
El Salvador? USD is still the official currency (look it up if you don't believe me).
a) Bitcoin growth has not kept pace with its replacement of fiat currency. If it's price is indicative of its replacement, it's going to have to reach well over 100mil to replace fiat
b) Bitcoin's value is measured in Fiat Currency; without Fiat, no one knows the value of Bitcoin.
It's been a great store of value, that much is true. But who knows how long before it has to actually start delivering on its promises and it becomes evident that it's purely a speculative bubble, like the Dot Com boom, where people were just betting on tech companies being the next big thing without those companies having ever done anything.
At the end of the day, people only invest in Bitcoin because it goes up, not because they actually believe it's the future.
Enjoy your inability to recognize a financial instrument which is more secure, more robust, immune to inflation and immune to counterfeiting as being better than your hyperingflation prone, backed by nothing, printed without reporting, paper money.
Money is merely a construct of transmittable value.
Again, BTC is superior in this in every regard against cash.
USD will crash before BTC.