If bitcoin price is $10.000, will fiat be worthless? - page 11.

Milo_Kidd

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Quote from: virtualx on December 13, 2015, 06:25:39 AM

In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?

I think fiat is not easy to be worthless because it is currently used and it was usually used. But it is possible to be eliminated by bitcoin. I believe that we are in the future of cashless society. But fiat for me is serves as secondary payment.

LordDisick

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I really don't think fiat become worthless ever as long as the bank still producing it and many people will use it. We can't deny that there are still a lot of people who doesn't have an idea about bitcoin and are not using t as well. Fiat will not become worthless because we are still gonna convert our bitcoins to real money since using bitcoin is still limited as of today. Not all business and stores accept bitcoin so we still need fiat for that matter.

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Quote from: EdenHazard on October 18, 2017, 03:37:59 AM

Quote from: Flodemaga on October 10, 2017, 05:38:19 PM

Fiat wont be never worthless, because all bitcoin supporters will exchange their coins into fiat soo they can use and abuse the profit they had made with bitcoin investments. Bitcoin can worth 50 000 dollars that it wont hurt fiat at all, remember all that crypto does moove the money countries print and allow to circulate, most of this money has camed from savings.

just think about this scenario , when fiat in the future considered as an outdated currency and people start to move their daily currency in bitcoin , what do you think will happened later on fiat? become worthless unlikely happened as fiat managed by government.

government might just adopt bitcoin technology into their financial system to make fiat not considered outdated anymore.

Fiat will not become outdated and the only thing that they will get outdated in fiat is its form and for sure the government will not let the cryptocurrencies to get into the majority of the population so they will engage a mobile payment option where they will have their money on their phone and it is already started in china where the people uses their mobile phone to make payments.

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Quote from: Flodemaga on October 10, 2017, 05:38:19 PM

Fiat wont be never worthless, because all bitcoin supporters will exchange their coins into fiat soo they can use and abuse the profit they had made with bitcoin investments. Bitcoin can worth 50 000 dollars that it wont hurt fiat at all, remember all that crypto does moove the money countries print and allow to circulate, most of this money has camed from savings.

just think about this scenario , when fiat in the future considered as an outdated currency and people start to move their daily currency in bitcoin , what do you think will happened later on fiat? become worthless unlikely happened as fiat managed by government.

government might just adopt bitcoin technology into their financial system to make fiat not considered outdated anymore.

hangar18

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Quote from: lienfaye on October 18, 2017, 02:32:51 AM

Quote from: btcprospecter on October 10, 2017, 08:29:10 PM

I cannot see fiat been worthless against bitcoin if fiat had no value bitcoin would have no value we only value bitcoin as much as we do because of fiat.

True, even now that bitcoin reach the unexpected value since 2015, fiat is still the primary currency of everyone and it wont become worthless even in the future.

Many people prepared to use fiat because it is a physical money and they used to it while btc is existing only in computer without it you cant have access.

Example if ask you "What is the place to take final profits?", can you give me your answer? For me, I need to convert to FIAT for using, I can not use Bitcoin for my life every day. It is unlike FIAT, it is not useful when I need to use for daily.

lienfaye

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Quote from: btcprospecter on October 10, 2017, 08:29:10 PM

I cannot see fiat been worthless against bitcoin if fiat had no value bitcoin would have no value we only value bitcoin as much as we do because of fiat.

True, even now that bitcoin reach the unexpected value since 2015, fiat is still the primary currency of everyone and it wont become worthless even in the future.

Many people prepared to use fiat because it is a physical money and they used to it while btc is existing only in computer without it you cant have access.

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Quote from: Jonsnowstark on October 17, 2017, 11:56:00 PM

I don't think so. Nomatter how high tge value of bitcoin will be, the fiat will still be there. Although it might be worth less but we will still need it. For now, not all merchants accept bitcoins as payments.

$10,000 but the volume of user are not really big, that would not gonna eliminate fiat, in fact the government are already regulating bitcoin
and when they regulate they will not allow bitcoin will become the most popular which will only be a threat to fiat system.

shesheboy

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Quote from: virtualx on December 13, 2015, 06:25:39 AM

In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?

lol. id say no and it wont happen , bitcoin cant still replace the fiat money even if its value will be 10k$. why? because bitcoin is just a digital currency and when you say digital it means it only works online so its priority it can only be used online with an internet conection and also not all people have a knowledge using a computer and going online so i guess it will be hard for some person to use bitcoin and also you cant just buy instanly offline using bitcoin thats why its too complex and hard to understand to some people.

Jonsnowstark

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I don't think so. Nomatter how high tge value of bitcoin will be, the fiat will still be there. Although it might be worth less but we will still need it. For now, not all merchants accept bitcoins as payments.

Cavyanpo

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The fiat will never be worthless in my opinion simply because you can nonetheless transform them with every single other and that it would still stay its well worth in my eyes.

susuberuang

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I think fiat is still valuable but the price is very cheap from the price of bitcoin and the total supply fiat is still a lot of bitcoin that has a small supply,

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Quote from: btcprospecter on October 10, 2017, 08:29:10 PM

I cannot see fiat been worthless against bitcoin if fiat had no value bitcoin would have no value we only value bitcoin as much as we do because of fiat.

Yes, fiat always has its role. Without fiat bitcoin is valueless, in one form or the other bitcoin have a dependence on fiat. In the past when $10000 looked unachievable I thought fiat might go worthless, but in reality the value itself being provided by its value. So however high value grows doesn't matter, fiat continues to have its stable value.

btcprospecter

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I cannot see fiat been worthless against bitcoin if fiat had no value bitcoin would have no value we only value bitcoin as much as we do because of fiat.

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Quote from: virtualx on December 13, 2015, 06:25:39 AM

In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?

Agree, 10000 units of $ fiat will be as worthless as 1 bitcoin.

sommii

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Bitcoin can become worthless, fiat cannot. Silly question. Fiat won't be banned by countries and using it won't be punished. -.-

kengeorge21

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i don't think it is possible for bitcoin to make fiat become worthless, first of all fiat is being backed up by many governments and international banks and 2nd even at that price if bitcoin is not regulated not all people across the globe will still trust it (though I trust it my self, just in my own opinion).

chickenado

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Quote from: NathanJB on October 10, 2017, 08:07:20 PM

Of course not. In fact, if we follow your logic in asking such a question, you are still basing on fiat money value. In other words, bitcoin's price is still highly dependent on the value of dollar. It is one reason why bitcoin becomes so big, a single bitcoin being valued a few thousand dollars. Majority of small to moderate bitcoin investors are converting to fiat every now and then.

Right. I see no difference at all. Actually,$10,000 is not that big issue for everybody I guess because no matter what happens,it will still pump higher on the next it drops. The good thing is that it won't be affected its value. Therefore,fiat will not be worthless. It continues its journey to become more successful in the cryptocurrency world. Investors won't change their minds investing to bitcoin because they already experienced its result and this won't fail them for more or upcoming investments they are going to make.

NathanJB

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Of course not. In fact, if we follow your logic in asking such a question, you are still basing on fiat money value. In other words, bitcoin's price is still highly dependent on the value of dollar. It is one reason why bitcoin becomes so big, a single bitcoin being valued a few thousand dollars. Majority of small to moderate bitcoin investors are converting to fiat every now and then.

TheNextChampion

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Fiat will be the same even if bitcoin reach $10000 because not all person knows bitcoin and some countries don't yet accept bitcoin as legal payment. Aside from thay fiat is important to each country that's why it will not be worthless unless some country switch to paper less money but i don't think they will do it.

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Quote from: virtualx on December 13, 2015, 06:25:39 AM

In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?

Nope. Fiat or regular curency won't be worthless just because Bitcoin will have a high market value because of the reason that Bitcoin is not yet legal to most of the countries and to the countries where it is not yet legal, they won't be making use of its so they'll still stick with fiat. Also, Fiat is still used longer than Bitcoin so people are used to fiat. Fiat is alsp used to Buy Bitcoin or inveat to it. So I think it won't be wortgless for such reason.

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