Topic: Chances of BTC surpassing the value of Fiat Money - page 4. (Read 968 times)
Sats are a thing. People would simply buy it in smaller amounts, Bitcoin could be measured into smaller numbers so instead of 1, you can simply use it as 0.01, 0.001, etc etc. Simply as that. Besides, we can't completely just replace Fiat with Bitcoin, it just isn't logical imo. It isn't like Bitcoin is supposed to be the number one used, it's a currency, I don't think it's supposed to be a competition between the two. They can live side by side, especially since some people would most likely keep on using Fiat. It could also mean that Bitcoin itself has become a value that has exceeded fiat, and can be used as such. It isn't like fiat is the only asset that could be used to transact with Bitcoin, when it itself is a currency. It can be used for transactions with land, businesses, corporations, deals, etc.
The chances of fiat money losing value wouldn't happen because the government is just going to print more and more money, and there wouldn't be any shortage of cash. It's just the value of it. BTC had already overtaken it even before it reached ATH. The value per bill is less than the actual value it has for sure, but it's the paper bills that cost more than the bills over time.
I'm not sure if that's what you mean, but that's what I thought about.
I think you got it wrong about fiat losing value. The more they print, the lesser the value, that is why many people objects about the 2 trillion stimulus package, this will devalue the money. Remember Zimbabwe and Post-war Germnay, they printed a lot of fiat and they all went into hyperinflation. I'm not sure if that's what you mean, but that's what I thought about.
Anything that has got real-time usage will grow slowly. With bitcoin, we're experiencing the same. For what OP has stated, we can't be judgemental. There is possibility after hundreds of years.
Governments slowly need to adopt bitcoin and take into consideration using bitcoin for every day needs. Slowly the currency printing need to be lowered and then stopped. Further the physical currency into usage needs to be taken out adding bitcoin to the market. Do anyone think this is possible, if so there is chance of bitcoin overcoming the value of fiat money.
Governments slowly need to adopt bitcoin and take into consideration using bitcoin for every day needs. Slowly the currency printing need to be lowered and then stopped. Further the physical currency into usage needs to be taken out adding bitcoin to the market. Do anyone think this is possible, if so there is chance of bitcoin overcoming the value of fiat money.
Sorry if the topic sounds logically flawed I didn't dig much deeper into the financial fantasies of such.
I'm wondering what if one day Bitcoin goes so high up in value that it causes somewhat a fiat crisis? I mean imagine, you've Bitcoins but there isn't much cash available in the market to buy your BTC, or simply put people can't afford it? Will bitcoin be of any value then?
Fiat can be printed from the air by governments and they proved they can do it in the pandemic through Quantitative Easings (QEs). What is quantitative easing and how will it affect you?. They only care to maintain artificial economic growth that all relies on thin-air-printed money and can be collapsed at any time if they stop QEs.I'm wondering what if one day Bitcoin goes so high up in value that it causes somewhat a fiat crisis? I mean imagine, you've Bitcoins but there isn't much cash available in the market to buy your BTC, or simply put people can't afford it? Will bitcoin be of any value then?
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That's why the Bank has turned to quantitative easing (QE). It's another way to encourage spending and investment.
The true and big problem is will governments allow bitcoin rises too high in value and some bitcoin whales can have their assets are bigger than many nations' net-asset values. It is a big question. If bitcoin gets its price at $300,000, a person with 200 bitcoin can have total assets at $60 million. Whales have more than 200 bitcoin in their wallets obviously.
Sorry if the topic sounds logically flawed I didn't dig much deeper into the financial fantasies of such.
I'm wondering what if one day Bitcoin goes so high up in value that it causes somewhat a fiat crisis? I mean imagine, you've Bitcoins but there isn't much cash available in the market to buy your BTC, or simply put people can't afford it? Will bitcoin be of any value then?
If bitcoin value is getting too high means the value of fiat is going useless so people are using Bitcoins more. The story of money still remains the same, people who got money/btc can buy their needs and one who is struggling to make will spend their entire life time as a slave worker. I'm wondering what if one day Bitcoin goes so high up in value that it causes somewhat a fiat crisis? I mean imagine, you've Bitcoins but there isn't much cash available in the market to buy your BTC, or simply put people can't afford it? Will bitcoin be of any value then?
The chances of fiat money losing value wouldn't happen because the government is just going to print more and more money, and there wouldn't be any shortage of cash. It's just the value of it. BTC had already overtaken it even before it reached ATH. The value per bill is less than the actual value it has for sure, but it's the paper bills that cost more than the bills over time.
I'm not sure if that's what you mean, but that's what I thought about.
I'm not sure if that's what you mean, but that's what I thought about.
Bitcoin is black hole for anything with fiat value.
It'll continue to get chosen as the preferred money due to it's properties. As it becomes more & more obvious people's savings are being evaporated by governments/central banks, Bitcoin will become a no brainer to the general public. It's saving technology.
For now, Bitcoin is rapidly becoming know as the digital gold; I think it's clear more & more people will continue to favor it over gold. Especially millennials.
Despite the skepticism of The Lightning Network, I believe it will become the second layer on top of Bitcoin - the currency layer. The future is denominated in sats. It is open-source code & completely unrestricted - it is growing extremely fast compared to anything built on a regulatory framework - the current system only hinders innovation.
2 years ago I struggled to get a Lightning node up & running, now there's mobile wallets like Phoenix & Breeze which allow anyone to benefit from it's tech with very little effort. There's zero configuration required; you receive an on-chain transaction & the rest is taken care in the background for you. It also runs on TOR by default, which is a massive privacy boost. We are definitely headed towards a self-sovereign world - no regulation can properly stop this tech. This technology will reshape governments & the entire world.
It'll continue to get chosen as the preferred money due to it's properties. As it becomes more & more obvious people's savings are being evaporated by governments/central banks, Bitcoin will become a no brainer to the general public. It's saving technology.
For now, Bitcoin is rapidly becoming know as the digital gold; I think it's clear more & more people will continue to favor it over gold. Especially millennials.
Despite the skepticism of The Lightning Network, I believe it will become the second layer on top of Bitcoin - the currency layer. The future is denominated in sats. It is open-source code & completely unrestricted - it is growing extremely fast compared to anything built on a regulatory framework - the current system only hinders innovation.
2 years ago I struggled to get a Lightning node up & running, now there's mobile wallets like Phoenix & Breeze which allow anyone to benefit from it's tech with very little effort. There's zero configuration required; you receive an on-chain transaction & the rest is taken care in the background for you. It also runs on TOR by default, which is a massive privacy boost. We are definitely headed towards a self-sovereign world - no regulation can properly stop this tech. This technology will reshape governments & the entire world.
For me, if ever BITCOIN will surpass the value of fiat money. Fiat will still stay and Bitcoin too. Some may not be comfortable using Bitcoin for their daily lives or in some cases payments. Some people may only buy or use Bitcoin as their investment, a store of value.
As I saw on some country with their fiat become useless with the hyperinflation just like Venezuela, their fiat becomes useless but I believe that they will recover, some people there already using Bitcoin but some don't want it or they don't have any idea what Bitcoin is.
As I saw on some country with their fiat become useless with the hyperinflation just like Venezuela, their fiat becomes useless but I believe that they will recover, some people there already using Bitcoin but some don't want it or they don't have any idea what Bitcoin is.
Fully agree
Here:
"Fiat will still stay and Bitcoin too"
It won't matter any more when BTC price reaches ginormous fiat value, this is what sats are meant for.
RD.
I see no problem with it. Why would it cause a fiat crisis? Bitcoin rising so high as to the point that all the world's money in circulation cannot afford it only means that it becomes so precious. That wouldn't spark a crisis because that would mean Bitcoin will only be sold in much smaller fractions and the rest is kept.
The opposite wouldn't be a problem either because if, all of a sudden and for whatever reason, people would suddenly decide to sell all their Bitcoins, its price would also significantly fall down. So there is no possible scenario in which all the Bitcoins are sold to the public and the amount of money available cannot afford all of them.
The opposite wouldn't be a problem either because if, all of a sudden and for whatever reason, people would suddenly decide to sell all their Bitcoins, its price would also significantly fall down. So there is no possible scenario in which all the Bitcoins are sold to the public and the amount of money available cannot afford all of them.
For me, if ever BITCOIN will surpass the value of fiat money. Fiat will still stay and Bitcoin too. Some may not be comfortable using Bitcoin for their daily lives or in some cases payments. Some people may only buy or use Bitcoin as their investment, a store of value.
As I saw on some country with their fiat become useless with the hyperinflation just like Venezuela, their fiat becomes useless but I believe that they will recover, some people there already using Bitcoin but some don't want it or they don't have any idea what Bitcoin is.
As I saw on some country with their fiat become useless with the hyperinflation just like Venezuela, their fiat becomes useless but I believe that they will recover, some people there already using Bitcoin but some don't want it or they don't have any idea what Bitcoin is.
Sorry if the topic sounds logically flawed I didn't dig much deeper into the financial fantasies of such.
I'm wondering what if one day Bitcoin goes so high up in value that it causes somewhat a fiat crisis? I mean imagine, you've Bitcoins but there isn't much cash available in the market to buy your BTC, or simply put people can't afford it? Will bitcoin be of any value then?
I'm wondering what if one day Bitcoin goes so high up in value that it causes somewhat a fiat crisis? I mean imagine, you've Bitcoins but there isn't much cash available in the market to buy your BTC, or simply put people can't afford it? Will bitcoin be of any value then?
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