For me, even bitcoin price will hit this big price fiat will still not be worthless. Fiat is still the main currency all over the world. Even bitcoin continously increasing users still into use to cashout using fiat. It will not be worthless, though.
You are right fiat will never become worthless in the real world. Without fiat currency, we can not run any business in the world. Bitcoin is becoming more popular in the dark web but not in real world. If the price of the Bitcoin reach $10,000 and still the Bitcoin is illegal currency in all country, then it is no use. First, the Bitcoin want to become a legal currency in all country later we it may be happening.
Topic: If bitcoin price is $10.000, will fiat be worthless? - page 23. (Read 145055 times)
For me, even bitcoin price will hit this big price fiat will still not be worthless. Fiat is still the main currency all over the world. Even bitcoin continously increasing users still into use to cashout using fiat. It will not be worthless, though.
You are right fiat will never become worthless in the real world. Without fiat currency, we can not run any business in the world. Bitcoin is becoming more popular in the dark web but not in real world. If the price of the Bitcoin reach $10,000 and still the Bitcoin is illegal currency in all country, then it is no use. First, the Bitcoin want to become a legal currency in all country later we it may be happening.Even if bitcoin reaches to the moon then also fiat will always be valuable as people will convert their bitcoins to fiat to have more amount of fiat in their hands so I don't think that fiat is going anywhere and it will always survive even in future.
For me, even bitcoin price will hit this big price fiat will still not be worthless. Fiat is still the main currency all over the world. Even bitcoin continously increasing users still into use to cashout using fiat. It will not be worthless, though.
You are right fiat will never become worthless in the real world. Without fiat currency, we can not run any business in the world. Bitcoin is becoming more popular in the dark web but not in real world. If the price of the Bitcoin reach $10,000 and still the Bitcoin is illegal currency in all country, then it is no use. First, the Bitcoin want to become a legal currency in all country later we it may be happening.For me, even bitcoin price will hit this big price fiat will still not be worthless. Fiat is still the main currency all over the world. Even bitcoin continously increasing users still into use to cashout using fiat. It will not be worthless, though.
You are right fiat will never become worthless in the real world. Without fiat currency, we can not run any business in the world. Bitcoin is becoming more popular in the dark web but not in real world. If the price of the Bitcoin reach $10,000 and still the Bitcoin is illegal currency in all country, then it is no use. First, the Bitcoin want to become a legal currency in all country later we it may be happening.
For me, even bitcoin price will hit this big price fiat will still not be worthless. Fiat is still the main currency all over the world. Even bitcoin continously increasing users still into use to cashout using fiat. It will not be worthless, though.
You are right fiat will never become worthless in the real world. Without fiat currency, we can not run any business in the world. Bitcoin is becoming more popular in the dark web but not in real world. If the price of the Bitcoin reach $10,000 and still the Bitcoin is illegal currency in all country, then it is no use. First, the Bitcoin want to become a legal currency in all country later we it may be happening. Bitcoin is only a little portion of the amount of money that is outside in the world today. We have USD, JPY, CHF, etc bills that are all circulating in the world so if we combine that all together then Bitcoin at $10,000 per coin shouldn't be that much of an issue.
There is also the other Currencies that were used before the newer ones was published so there is plenty of fiat to go around if the price does get to $10,000 per coin.
There is also the other Currencies that were used before the newer ones was published so there is plenty of fiat to go around if the price does get to $10,000 per coin.
Crypto's will never replace fiat even bitcoin reach high value. Fiat circulatingall over the world is very huge amount compared to the total volume bitcoin available, unless bitcoin will be accepted by the government, then there is possibility to replace by bitcoin so that their will be 1 currency on the world and easy to trade
Yes that is true, because cryto is based on bitcoin price, whether bitcoin price is drop the altcoin will high of course and it will be the same thing too on bitcoin which is based on dollars too. And btw why do you think that bitcoin will be accepted by government? I do not think they can even control it if they have all their tech
But the value of fiat doesn't move that much. So it's not exactly the same with the if bitcoin increases, altcoin decreases scenario. There are also some coins that don't depend solely on the price of bitcoin like ETH. Most major coins are like this. You can trade it to BTC or to USD but the rest of the altcoin family are just traded to BTC.
For me, even bitcoin price will hit this big price fiat will still not be worthless. Fiat is still the main currency all over the world. Even bitcoin continously increasing users still into use to cashout using fiat. It will not be worthless though.
Bitcoin is only a little portion of the amount of money that is outside in the world today. We have USD, JPY, CHF, etc bills that are all circulating in the world so if we combine that all together then Bitcoin at $10,000 per coin shouldn't be that much of an issue.
There is also the other Currencies that were used before the newer ones was published so there is plenty of fiat to go around if the price does get to $10,000 per coin.
There is also the other Currencies that were used before the newer ones was published so there is plenty of fiat to go around if the price does get to $10,000 per coin.
Crypto's will never replace fiat even bitcoin reach high value. Fiat circulatingall over the world is very huge amount compared to the total volume bitcoin available, unless bitcoin will be accepted by the government, then there is possibility to replace by bitcoin so that their will be 1 currency on the world and easy to trade
Yes that is true, because cryto is based on bitcoin price, whether bitcoin price is drop the altcoin will high of course and it will be the same thing too on bitcoin which is based on dollars too. And btw why do you think that bitcoin will be accepted by government? I do not think they can even control it if they have all their tech
Tell you all what, when we stop quoting crypto value in fiat and fiat all over the world start quoting their respective values against bitcoin, then maybe we can think about this question. When people ask if USD price is 0.000001 BTC and every market starts doing their spreads in satoshi, yeah, then we're on our way!
I don’t think bitcoin will reach that acceptance since that would mean bitcoin would have become the new top dog in the world of currencies and it is difficult to stomach that governments are going to allow that without a fight against bitcoin.
Much mlre votes for NO, and little contradiction how can bitcoin worth 10 000 dollars when dollar is worthless, how you imagine that to happen?
Fiat will be present for many more years, just some world revolution can end dollar domination, and bitcoin is good start for that revolution, but many more things has to be done to come to that.
Fiat will be present for many more years, just some world revolution can end dollar domination, and bitcoin is good start for that revolution, but many more things has to be done to come to that.
i don't agree because any work is worthless and i think its happen many people turn to usd because they don't have coins wallet and if don't happen because government and people disagree for that
If you are loving your work it always be a worth when you always appreciate on what happening on your life. It easy to use coins wallet there are blockchain and other bitcoin wallet that you can use Fiat is always there to us to convert our bitcoin easily.
i don't agree because any work is worthless and i think its happen many people turn to usd because they don't have coins wallet and if don't happen because government and people disagree for that
Tell you all what, when we stop quoting crypto value in fiat and fiat all over the world start quoting their respective values against bitcoin, then maybe we can think about this question. When people ask if USD price is 0.000001 BTC and every market starts doing their spreads in satoshi, yeah, then we're on our way!
I don’t think bitcoin will reach that acceptance since that would mean bitcoin would have become the new top dog in the world of currencies and it is difficult to stomach that governments are going to allow that without a fight against bitcoin.
Well for my own opinion doesn't matter how much bitcoin is,
As long as it can't be used to pay anything that we need Fiat will still be worth it.
No chance at all, fiat money will be always the first and the best option for daily transaction instead of using bitcoin, because :As long as it can't be used to pay anything that we need Fiat will still be worth it.
- People/citizens do not need to have any wallet
- Complicated transaction for layman
- No need to pay fee for every single transaction
- bitcoin transaction takes time (even for hours) to be confirmed
Long live for fiat money, especially for cash. I agree with you, as long as bitcoin can not be useful and simple like cash, fiat won't be worthless.
I voice my strong disagreement with this opinion
Right now, that may well be the case, but since you are talking about things not changing in the future ("fiat money will be always the first"), I think I should point out where this might not be the case in the future and where it is outright wrong even now
- if you are talking about cash, this by definition means that you need a wallet. Even if you just put money in your trousers you still need pockets. This is even more so with digital fiat since you would you need a bank account or a payment card, or both. This is essentially the same as a Bitcoin wallet
- learn about web wallets at last
- tell me another. The only case where you don't need to pay fees is paying directly with cash (and even this is debatable)
- that may change in the nearest future with the introduction of off-chain transactions. We are bound to get there eventually whether someone may like it or not
Honestly, I don't quite understand the point of your post
When you are making fiat transactions using banks, you will likely have to pay around 1-2% fee of the sum transacted. Some banks allow free of charge transactions (or just charge a very low fixed fee), but these are possible only up to a certain limit (and the number of such banks is really low). So this is nowhere near "no need to pay fee for every single transaction" as the poster which I replied to claimed (and whose post you seem to have not read). Regarding Bitcoin transactions with low fees, I specified precisely the conditions under which that would be possible ("with the introduction of off-chain transactions"). So what is your point really?
Tell you all what, when we stop quoting crypto value in fiat and fiat all over the world start quoting their respective values against bitcoin, then maybe we can think about this question. When people ask if USD price is 0.000001 BTC and every market starts doing their spreads in satoshi, yeah, then we're on our way!
I don’t think bitcoin will reach that acceptance since that would mean bitcoin would have become the new top dog in the world of currencies and it is difficult to stomach that governments are going to allow that without a fight against bitcoin. Bitcoin is only a little portion of the amount of money that is outside in the world today. We have USD, JPY, CHF, etc bills that are all circulating in the world so if we combine that all together then Bitcoin at $10,000 per coin shouldn't be that much of an issue.
There is also the other Currencies that were used before the newer ones was published so there is plenty of fiat to go around if the price does get to $10,000 per coin.
There is also the other Currencies that were used before the newer ones was published so there is plenty of fiat to go around if the price does get to $10,000 per coin.
Crypto's will never replace fiat even bitcoin reach high value. Fiat circulatingall over the world is very huge amount compared to the total volume bitcoin available, unless bitcoin will be accepted by the government, then there is possibility to replace by bitcoin so that their will be 1 currency on the world and easy to trade
Tell you all what, when we stop quoting crypto value in fiat and fiat all over the world start quoting their respective values against bitcoin, then maybe we can think about this question. When people ask if USD price is 0.000001 BTC and every market starts doing their spreads in satoshi, yeah, then we're on our way!
Bitcoin could reach 10k without fiat having to go through hyper inflation or anything, if adoption grew by 10 times the current amount of people and business, then it stands to reason to believe that the price will grow that much, so fiat will not be worthless in that scenario.
Well the price suggested here is ridiculously low for the fiat price to become worthless. Multiplying the adoption of Bitcoin by 10 would still leave it an absolutely tiny currency compared to, for example, the US dollar.Good observation. Also, may I add that Cash has unique properties because it is a physical token of value. Many transactions made are not made to be seen by the public eye, and cash facilitates this, it is the ultimate anonymous value transfer mechanism. Also, if it became a world currency, we would see individual governments have unique currencies. They would not late adopt into a global currency.
The government don't care about the 1 dollar, two dollar transaction of yours. They can't squeeze anything from that. But if it's something in millions or billions, even if you do it in a private transaction with the physical form of fiat, you might have a hard time. For example, if you deposit a million dollars into your bank account all of a sudden without you getting promoted or there's basically no change in your source of income, you'd see an agent knocking on your door the next morning.
If you choose to avoid that and you so you chose to just hide the money in your own vault at home, then you will be doing money laundering (if it was obtained illegally) or money hoarding (not sure if it's illegal in your place) which is, again, against the law.
Bitcoin could reach 10k without fiat having to go through hyper inflation or anything, if adoption grew by 10 times the current amount of people and business, then it stands to reason to believe that the price will grow that much, so fiat will not be worthless in that scenario.
Well the price suggested here is ridiculously low for the fiat price to become worthless. Multiplying the adoption of Bitcoin by 10 would still leave it an absolutely tiny currency compared to, for example, the US dollar.Good observation. Also, may I add that Cash has unique properties because it is a physical token of value. Many transactions made are not made to be seen by the public eye, and cash facilitates this, it is the ultimate anonymous value transfer mechanism. Also, if it became a world currency, we would see individual governments have unique currencies. They would not late adopt into a global currency.
Indeed. I also don't see future transactions surviving on digital currencies alone. Digital currencies pretty much rely on things that can easily be taken away like online connections. I din't even think btc reaching 1million, which is pretty impossible, will cripple and kill fiat. Not by a long shot that is. Unless there's a currency that would be as accessible as fiat, i think it would stay
Well for my own opinion doesn't matter how much bitcoin is,
As long as it can't be used to pay anything that we need Fiat will still be worth it.
No chance at all, fiat money will be always the first and the best option for daily transaction instead of using bitcoin, because :As long as it can't be used to pay anything that we need Fiat will still be worth it.
- People/citizens do not need to have any wallet
- Complicated transaction for layman
- No need to pay fee for every single transaction
- bitcoin transaction takes time (even for hours) to be confirmed
Long live for fiat money, especially for cash. I agree with you, as long as bitcoin can not be useful and simple like cash, fiat won't be worthless.
I voice my strong disagreement with this opinion
Right now, that may well be the case, but since you are talking about things not changing in the future ("fiat money will be always the first"), I think I should point out where this might not be the case in the future and where it is outright wrong even now
- if you are talking about cash, this by definition means that you need a wallet. Even if you just put money in your trousers you still need pockets. This is even more so with digital fiat since you would you need a bank account or a payment card, or both. This is essentially the same as a Bitcoin wallet
- learn about web wallets at last
- tell me another. The only case where you don't need to pay fees is paying directly with cash (and even this is debatable)
- that may change in the nearest future with the introduction of off-chain transactions. We are bound to get there eventually whether someone may like it or not
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