Topic: If bitcoin price is $10.000, will fiat be worthless? - page 19. (Read 145035 times)

Bitcoin will bridge fiat into a faster transaction, we need a good payment system and it is a gift that bitcoin was invented.
It is not here to replace anything but to help fast track transactions and make it cheaper.

I agree with you. Bitcoin and fiat would work together rather than make the other worthless which is good. Fiats will continue as it was today while Bitcoin would gain its momentum in usage especially in the global market I should say, more like as the main online currency to be used worldwide.

Bitcoin will just gonna be more popular if it is reach $10.000 but not to makes fiat worthless. Bitcoin must be used by all of people in the world to make it happen, the price of bitcoin when it happen might be reach more than $1M thats my opinion.

A few years ago all previous users were very hesitant if bitcoin prices could touch $ 2500. But without the help of the government even if it can be achieved. Certainly with the help of users and mass adoption

 If bitcoin price is $10.000, will fiat be worthless?

The question is not well posed because in the event of that happening in the future, giving it  value would then mean that fiat could retain their same value and not less value, everyone will use the best choice for him and about that he/she has at his disposal and obviously it is widely accepted, in this sense the fiat has global acceptance and it must be because it has been more effective so far,  still fiat has more advantages than plastic cards offered by banks in most everyday transactions for the majority of people in the world, but in order not to enter into discord, I will only say that the instruments only seem to be diversifying.

The problem here is stating Dollar as especially superior to Bitcoin.    Its not, dollar hasnt been a strong established currency for a while.  Its heavily dependant on political support not from the USA so much but other governments to hold up the debt but also the deficit.  Imagine if Trump or other parts of government had to justify every word with a balanced plan for their budget, only spending tax taken or even worse actually repaying debt.   Yuu would see a great shift in world power if this were true, dollars would be surpassed by more in demand currency used and useful for whatever purpose besides politics.

Most dollars are digital, sent without appearing anywhere physical during the duration of their existance.   There is no trade backing alot of dollars, tax revenue for USA is reliant on business but alot of USA companies operate outside the country.  Dollar is also in many cases just a speculative currency.   True its operated by a superpower and powerful government but its largely backed by debt not actual demand for goods, so this is speculative.

The reason bitcoin or other competing currency standards do better now is because dollar is so weak its underpinning a search for value elsewhere and growth.  If bitcoin can retain integrity it should be ok, however its shown itself to be quite slow in adapting to growth.  This is worrying if its going to proceed from zero to describing world trade, it needs more capability

Yes it will never useless because we are still using it and the government is not telling the people that there will a time that we need to adjust and accept the upgrade of digital money. I'm looking more forward with the price increase of bitcoin and for the possibility that the price can go up to $10,000 and I don't care if fiat will be worthless or not.

The marketcap of Bitcoin and other Altcoins don’t really matter because they aren’t 100% accurate. Unless there was a person or some group that wanted to purchase the whole Bitcoin supply within a minute than the marketcap of Bitcoin would matter though we know that won’t happen –at least not right now.

Which fiat is the OP talking about? Since we don't have one acceptable global fiat currency it will be difficult for Bitcoin to render all fiats worthless even if it hits $100k per coin. I think conventional fiat will remain just as Bitcoin and the two will coexist.

Bitcoin has reached very high prices in this week and while we are still far away of that number fiat is nowhere near to become worthless so I think the right answer is not, if bitcoin reaches that amount fiat is not going to be worthless.

Yeah must necessarily require a very large demand and it requires users who are also very much. But I'm still convinced that the total marketcap or users will be bigger on the fiat. Although bitcoin prices have already reached $ 10k

I think bitcoin would be more trusted than fiat money as government can't control it thus corruption is unecessarily possible. Sooner, all people will trust bitcoin as legal means of payment online as government and huge businessman/personalities support it. All in all, there is no devaluation will occur if one's currency infflated.

Fiat will never become useless. The government is building its economy not on the crypto currency, but on a currency that can be controlled. There will always be support from Fiat. And there will be people who do not trust bitcoin

It's possible for bitcoin to reach this total market cap. But I really don't see the point of making the value of fiat as worthless just because of it. Bitcoin will not progress if there's no fiat so props to the paper money. Whether the price will be at $10k or even into higher unexpected price, fiat will remain the main currency of all countries.

To make the price as high as it is certainly marketcap or volume in the bitcoin market must be really huge. I do not know how many users need. The important thing it must require a large demand.

Bitcoin won't go worthless however​ high the price gets reached. As it's a speculative currency the price variation happens without the support from any central authority. Fiat will always serve as the primary currency and based on the price increase happening with bitcoin it gets used in different sectors.

I disagree with that statement. Price of digital currency coin aboslutely don't affect fiat money as we can see, that price of currency doesn't matter in the market in order to determine it it's valuable to be used as means of payment. For the evidence, bitcoin started at cents and now it's thousand dollars worth and we see that devaluation in fiat money doesn't occured with the cause of bitcoin's inflation.

Price as such is irrelevant

If the US dollar disappears tomorrow and Bitcoin gets no longer priced in it, does it mean that 1) Bitcoin disappears too since this is what claims of many folks around here come down to, 2) Bitcoin price in dollars will be equal to infinity, or 3) Bitcoin price in dollars is then equal to zero? The correct answer is neither of these three options, and it can be easily found if you follow from the premise that Bitcoin is a currency in its own right (even if it is not used much as such as of today)

yes i also think so that the increasing price of bitcoin can make fiat worthless. i think fiat can only be worthless if the users of bitcoin are increasing and bitcoin is facilitating them more that fiat then people will stop using fiat and will give more preference to bitcoin. but to me i think it will take some more time, because currently bitcoin is not providing us such facilities that fiat can provide us, therefore fiat is not going to worthless for some more time.

$10k would give it a market cap of like $250 billion or so? This is peanuts for a currency. Fiat would still dominate.