I do not believe fiat can ever be replaced as the government exist.
The government could ban bitcoin so the value of bitcoin could drop to non existent to one's country
Topic: If bitcoin price is $10.000, will fiat be worthless? - page 15. (Read 145077 times)
That will never happen fiat will dependably demonstrate its nearness even in future and till the time Government will have their control on a nation fiat will dependably exist as Government will never enable any computerized money to supplant their national cash.
Precisely, bitcoin definitely will not give effect on the use of money in the system of Government, because if that happens the system definitely exist in the Government will be crushed. For if bitcoin is used as financial fundamentals of a country, most likely a growing number of officials committing corruption and it will surely give a negative impact to the economic survival of the country. And also those who use bitcoin is very difficult to know in simple terms.
Fiat will still have worth but inflation hike is still unstoppable, leterally the government will create and print higher notes just to continue the flow of the monetary system.
No matter what happens , if there is a crypto which has unlimited supply , which is secure like fiat , works offline and legit has all the features of price no government is going to replace it with their currency as crypto means price can fluctuate a bit and government would surely not want to lose the control of controlling it's currencyReally? No matter what happens?
Why do you have also the impression the value of a crypto can't be controlled?
It can be done so easily that would put the usual poloniex dpump and dumpers to shame.
Also, even government controlled currencies fluctuate. not like btc right now but they do swing.
Check the pound for instance.
Regardless of the price of the bitcoin won't make fiat money worthless, this is because fiat money is a measure to determine the price of the bitcoin transactions, in addition to fiat money will continue to be maintained by the Government.
Fiat is strong but I want bitcoin's price to get up to $10,000 as I don't care if fiat will be worthless or not as long as I will benefit from that increase. And that's what is everyone has been waiting for. And government will lost it's control to the society when they will allow bitcoin to replace or make the fiat useless.
How long have you been holding bitcoin? You surely got a lot of it already and I admire you and hoping that I was not able to sell my bitcoins early. I just want to see the price of bitcoin to go up to this point which is very possible to happen.
Regardless of the price of the bitcoin won't make fiat money worthless, this is because fiat money is a measure to determine the price of the bitcoin transactions, in addition to fiat money will continue to be maintained by the Government.
Fiat is strong but I want bitcoin's price to get up to $10,000 as I don't care if fiat will be worthless or not as long as I will benefit from that increase. And that's what is everyone has been waiting for. And government will lost it's control to the society when they will allow bitcoin to replace or make the fiat useless.
True that it would be probably beneficial for cryptocurrency, during economic crisis people would flock to buy alternatives, in this case BTC.
At the same time I would rather have stable and strong fiat backed by solid government that pandemonium in the street and social unrest.
Fiat is strong but I want bitcoin's price to get up to $10,000 as I don't care if fiat will be worthless or not as long as I will benefit from that increase. And that's what is everyone has been waiting for. And government will lost it's control to the society when they will allow bitcoin to replace or make the fiat useless.
You don't care whether or not fiat becomes worthless? If fiat becomes worthless, and Bitcoin reaches $10,000 at that time, what does it say about the value of 1BTC then? Haven't you thought about that? It's a very short sighted way of thinking, really.
Regardless of the price of the bitcoin won't make fiat money worthless, this is because fiat money is a measure to determine the price of the bitcoin transactions, in addition to fiat money will continue to be maintained by the Government.
Fiat is strong but I want bitcoin's price to get up to $10,000 as I don't care if fiat will be worthless or not as long as I will benefit from that increase. And that's what is everyone has been waiting for. And government will lost it's control to the society when they will allow bitcoin to replace or make the fiat useless.
Regardless of the price of the bitcoin won't make fiat money worthless, this is because fiat money is a measure to determine the price of the bitcoin transactions, in addition to fiat money will continue to be maintained by the Government.
Fiat is strong but I want bitcoin's price to get up to $10,000 as I don't care if fiat will be worthless or not as long as I will benefit from that increase. And that's what is everyone has been waiting for. And government will lost it's control to the society when they will allow bitcoin to replace or make the fiat useless.
Fiat is already worthless. It's paper and digits. Nothing scarce backs it up. They can just keep printing, adding digits and debt.
What gives it value is everyone believing it has value.
But anyway, I don't think fiat will ever be worthless. I love crypto and I wish everyone would move most of their fiat funds to BTC or ETH or WAVES or any other alt coin. But I think it's important to keep fiat, at least the paper version, so we always have that option. It's very important for our privacy !
It is necessary to be ready for the development of events in any version and therefore you can not be sure for 100% that Bitcoin will in the future have a good position and therefore anyway some of its funds should be in Fiat.What gives it value is everyone believing it has value.
But anyway, I don't think fiat will ever be worthless. I love crypto and I wish everyone would move most of their fiat funds to BTC or ETH or WAVES or any other alt coin. But I think it's important to keep fiat, at least the paper version, so we always have that option. It's very important for our privacy !
I agree. Better be safe so i wanna keep btc and fiat for myself. These two have different uses for the moment and it's essential that we still have paper money in our wallets for everyday expenses. Waves is actually making a lot of noise recently as i keep on hearing about it, i wonder why there's no waves yet in poloniex.
Fiat is already worthless. It's paper and digits. Nothing scarce backs it up. They can just keep printing, adding digits and debt.
What gives it value is everyone believing it has value.
But anyway, I don't think fiat will ever be worthless. I love crypto and I wish everyone would move most of their fiat funds to BTC or ETH or WAVES or any other alt coin. But I think it's important to keep fiat, at least the paper version, so we always have that option. It's very important for our privacy !
It is necessary to be ready for the development of events in any version and therefore you can not be sure for 100% that Bitcoin will in the future have a good position and therefore anyway some of its funds should be in Fiat. What gives it value is everyone believing it has value.
But anyway, I don't think fiat will ever be worthless. I love crypto and I wish everyone would move most of their fiat funds to BTC or ETH or WAVES or any other alt coin. But I think it's important to keep fiat, at least the paper version, so we always have that option. It's very important for our privacy !
Fiat is already worthless. It's paper and digits. Nothing scarce backs it up. They can just keep printing, adding digits and debt.
What gives it value is everyone believing it has value.
But anyway, I don't think fiat will ever be worthless. I love crypto and I wish everyone would move most of their fiat funds to BTC or ETH or WAVES or any other alt coin. But I think it's important to keep fiat, at least the paper version, so we always have that option. It's very important for our privacy !
What gives it value is everyone believing it has value.
But anyway, I don't think fiat will ever be worthless. I love crypto and I wish everyone would move most of their fiat funds to BTC or ETH or WAVES or any other alt coin. But I think it's important to keep fiat, at least the paper version, so we always have that option. It's very important for our privacy !
Fiat will still have worth but inflation hike is still unstoppable, leterally the government will create and print higher notes just to continue the flow of the monetary system.
No matter what happens , if there is a crypto which has unlimited supply , which is secure like fiat , works offline and legit has all the features of price no government is going to replace it with their currency as crypto means price can fluctuate a bit and government would surely not want to lose the control of controlling it's currency
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
My answered is no, even it has a huge value, the fiat is there before bitcon discovered. Even it become so popular and we know the benefits of bitcoin, more people in our society have no idea about bitcoin.Do you agree with this statement?
At this time the population of poor people is many than rich person, the user of internet is still increase so if the bitcoin in the future goes to $10,000 I think he/she interested in the bitcoin. But the fiat will never be face out in our society.
Regardless of the price of the bitcoin won't make fiat money worthless, this is because fiat money is a measure to determine the price of the bitcoin transactions, in addition to fiat money will continue to be maintained by the Government.
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
My answered is no, even it has a huge value, the fiat is there before bitcon discovered. Even it become so popular and we know the benefits of bitcoin, more people in our society have no idea about bitcoin.Do you agree with this statement?
At this time the population of poor people is many than rich person, the user of internet is still increase so if the bitcoin in the future goes to $10,000 I think he/she interested in the bitcoin. But the fiat will never be face out in our society.
Quote from: virtualx
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
Do you agree with this statement?
There is some misunderstanding of the concepts, if fiat becomes worthless then how would you value the bitcoin there.
I don't know if the fiat would be worthless in the next decades even though the trending of crypto currencies are moving so fast that is taking really a high attention to most of the people in the world.
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
Of course not. Price of one crpyto currency coin doesn't have an impact in foreign currency since it doesn't have relativity in the progression/economy of one country. Fiat money won't be worthless regardless if the crypto currency is too much valuble in the market since it supports crypto currency.Do you agree with this statement?
Let's say bitcoin price is 1 million dollars (since you said even when it becomes too valuable), do you think that people are still using fiat at that time? Maybe, maybe not? Maybe the two things just continued to co-exist but surely fiat has become worthless to those that have migrated to using bitcoins. At that point, merchants are obviously already accepting bitcoins and people are more into buying and ordering things online
It may mean only that
That 1 bitcoin is worth 1 million dollars. So given only that, we can't come to any conclusion whether it is Bitcoin appreciated or dollar depreciated, or a random mixture of these two extremes. Basically, anything is possible within this range of possibilities. If it is Bitcoin that got so expensive, people will be obviously using dollars as before. Could Bitcoin cost that much? Why not? After all, 1 (one) share of Warren Buffett's Berkshire Hathaway costs over 200k dollars, and you can't divide it into subshares at that (unlike Bitcoin)
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
Of course not. Price of one crpyto currency coin doesn't have an impact in foreign currency since it doesn't have relativity in the progression/economy of one country. Fiat money won't be worthless regardless if the crypto currency is too much valuble in the market since it supports crypto currency.Do you agree with this statement?
Let's say bitcoin price is 1 million dollars (since you said even when it becomes too valuable), do you think that people are still using fiat at that time? Maybe, maybe not? Maybe the two things just continued to co-exist but surely fiat has become worthless to those that have migrated to using bitcoins. At that point, merchants are obviously already accepting bitcoins and people are more into buying and ordering things online
It may mean only that
That 1 bitcoin is worth 1 million dollars. So given only that, we can't come to any conclusion whether it is Bitcoin appreciated or dollar depreciated, or a random mixture of these two extremes. Basically, anything is possible within this range of possibilities. If it is Bitcoin that got so expensive, people will be obviously using dollars as before. Could Bitcoin cost that much? Why not? After all, 1 (one) share of Warren Buffett's Berkshire Hathaway costs over 200k dollars, and you can't divide it into subshares at that (unlike Bitcoin)
Fiat will still have worth but inflation hike is still unstoppable, leterally the government will create and print higher notes just to continue the flow of the monetary system.
No matter what happens , if there is a crypto which has unlimited supply , which is secure like fiat , works offline and legit has all the features of price no government is going to replace it with their currency as crypto means price can fluctuate a bit and government would surely not want to lose the control of controlling it's currencyFiat will still have worth but inflation hike is still unstoppable, leterally the government will create and print higher notes just to continue the flow of the monetary system.
No matter what happens , if there is a crypto which has unlimited supply , which is secure like fiat , works offline and legit has all the features of price no government is going to replace it with their currency as crypto means price can fluctuate a bit and government would surely not want to lose the control of controlling it's currency Jump to: