Topic: If bitcoin price is $10.000, will fiat be worthless? - page 26. (Read 145077 times)
Fiat will never become worthless even if the price of bitcoin reaches the moon as if it touches that price then people will start selling their coins and convert it to fiat as even in future I don't think that bitcoin will be used and accepted everywhere and you will always need fiat for your spending.
I think in one situation shurely we can replace fiat money to bitcoin or any other currency it's only when we can fully use it everywhere for daily payments . To pay for every daily payments, then people would change or make it their own payment system. But always if depends of freedomness of country and rules of goverment
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
Do you agree with this statement?
I don't think fiat will become worthless even bitcoin reach 10,000$, it doesn't mean fiat all a sudden will collapse no its not going to be happen. It maybe ignore most of the time but still being used in other form of currency like Euro and etc. and I think fiat will always be connected into bitcoin.
yes of course, I do think so that bitcoin will always be connected to bitcoin and they will exist together as bitcoin value will always be based into fiat value even thought it is already on that said price . and I don't think that the traditional system or fiat to be specific is not going to be worthless the only possible thing that may happen is that bitcoin will become more used than fiat .
Guess 1BTC will cost minimum 2000$ after ETF this spring
I still doubt bitcoin prices will reach $ 2000 after ETF. I thought the price was too high for the near future. let alone total users not so much so I think it will take a long time to reach that price
I dont think bitcoin is here for replacing fiat. Fiat will always be in use because fiat currency are easy to use in day to day transactions and most importantly physical currency will hold its importance in future as well. Bitcoin has many alternate uses. It will grow as digital currency.
No. 10k bitcoin could happen very soon. The price of usd wouldn't change much in this scenario.
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
Do you agree with this statement?
I don't think fiat will become worthless even bitcoin reach 10,000$, it doesn't mean fiat all a sudden will collapse no its not going to be happen. It maybe ignore most of the time but still being used in other form of currency like Euro and etc. and I think fiat will always be connected into bitcoin.
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I am sure that, regardless of the price of cryptocurrency Fiat will exist. And he will also be valuable to some people. Cryptocurrency and Fiat - is a completely different system, and they can not be compared
Seems kinda ignoring the obvious use that both have which is to trade value between individuals. To barter one good for another is a difficult trade, the use of fungible currency is utility that increases wealth of society. Bitcoin does allow the description of a trade, which is what a worthless nickel coin also does.
They have that much common, neither has to be accepted. The main difference is the overvalued nickel disc of metal is always accepted by government in payment of taxes. They will redeem no other value but they will reduce your taxes at least.
The bitcoin has no bottom line of backing like that but again its a reasonable token of value. It lacks that second use perhaps, though bitcoin can used as a kind of ledger I think ?
Fiat can collapse but I dont think it has to happen because bitcoin rose. They can default on debt and reestablish the currency as worth. They could also exchange old fiat to new fiat at a bad rate, this is a way to maintain the system of value wiping debts also. Russia did this in the late 90's The modern rouble is 10,000 : 1 with the old rouble
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
Do you agree with this statement?
I don't think fiat will become worthless even bitcoin reach 10,000$, it doesn't mean fiat all a sudden will collapse no its not going to be happen. It maybe ignore most of the time but still being used in other form of currency like Euro and etc. and I think fiat will always be connected into bitcoin.
I am sure that, regardless of the price of cryptocurrency Fiat will exist. And he will also be valuable to some people. Cryptocurrency and Fiat - is a completely different system, and they can not be compared
Of course not. You even said it in your statement "What if Bitcoin is worth 10000$" you just have based the value of Bitcoin to Fiat which means Fiat currency is still more important than Bitcoin. Without Fiat Bitcoin won't be ajything in the first place because Bitcoin won't have any value to based it on. Another example is Gold, it is worth more than any currency but still Fiat rules the money system because they are being use by everyone.
Guess 1BTC will cost minimum 2000$ after ETF this spring
I think that's too much for bitcoin. although the trend of price increases continue to occur. but I think $ 2,000 is a very high price and it will be hard going in recent yearsBitcoin is not very predictable, so I would not be surprised if the price after the event will be several times more. And maybe less.
Guess 1BTC will cost minimum 2000$ after ETF this spring
It's very unrealistic, How many the total of the money will flow to the bitcoin and i guess it's not more than a billion. and It will not push the price of bitcoin with instantly. I guess $1400 is more realistic speculation. 
Guess 1BTC will cost minimum 2000$ after ETF this spring
I think that's too much for bitcoin. although the trend of price increases continue to occur. but I think $ 2,000 is a very high price and it will be hard going in recent yearsBitcoin is not very predictable, so I would not be surprised if the price after the event will be several times more. And maybe less.
Fiat becoming worthless is not at all logically correct.
This is because money(fiat) is all relative.
It's basically only a promise that someone ows you resources.
It may be possible that more people start using bitcoins as compared to Fiat.
Now logically-
Consider bitcoin reaches 10000$
But you are saying fiat becomes worthless
I.E - dollar losses Its value . But if dollar looses its value than bitcoin is also 10000$.
Thus, bitcoin also looses its value.
So what you are saying is logically wrong.
This is because money(fiat) is all relative.
It's basically only a promise that someone ows you resources.
It may be possible that more people start using bitcoins as compared to Fiat.
Now logically-
Consider bitcoin reaches 10000$
But you are saying fiat becomes worthless
I.E - dollar losses Its value . But if dollar looses its value than bitcoin is also 10000$.
Thus, bitcoin also looses its value.
So what you are saying is logically wrong.
Guess 1BTC will cost minimum 2000$ after ETF this spring
It's very unrealistic, How many the total of the money will flow to the bitcoin and i guess it's not more than a billion. and It will not push the price of bitcoin with instantly. I guess $1400 is more realistic speculation. I have the same belief as you, probably a bit higher at around $1500, if ever ETF is approved the influence/effect is far greater than the incoming fund. Though it will not promptly rise to this amount but rather it will increase continuously bringing Bitcoin price to $1500 or more.
Fiat will never be worthless even if Bitcoin reach more than $10,000. Bitcoin will only be an alternative, next to fiat currency created by the finance institution of each government.
Guess 1BTC will cost minimum 2000$ after ETF this spring
It's very unrealistic, How many the total of the money will flow to the bitcoin and i guess it's not more than a billion. and It will not push the price of bitcoin with instantly. I guess $1400 is more realistic speculation. I have the same belief as you, probably a bit higher at around $1500, if ever ETF is approved the influence/effect is far greater than the incoming fund. Though it will not promptly rise to this amount but rather it will increase continuously bringing Bitcoin price to $1500 or more.
Fiat will never be worthless even if Bitcoin reach more than $10,000. Bitcoin will only be an alternative, next to fiat currency created by the finance institution of each government.
Guess 1BTC will cost minimum 2000$ after ETF this spring
It's very unrealistic, How many the total of the money will flow to the bitcoin and i guess it's not more than a billion. and It will not push the price of bitcoin with instantly. I guess $1400 is more realistic speculation. Guess 1BTC will cost minimum 2000$ after ETF this spring
I think that's too much for bitcoin. although the trend of price increases continue to occur. but I think $ 2,000 is a very high price and it will be hard going in recent years
My vote is no and as i expexted many others 89% also do think the same because fiat has its own market and it doesnt matter whatever the price of bitcoin will reach i can never ever replace the fiat currency because its not only depends upon price but there are other different features of fiat as well and most important thing is worldwide accpetance.
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