Topic: If bitcoin price is $10.000, will fiat be worthless? - page 27. (Read 145055 times)
Guess 1BTC will cost minimum 2000$ after ETF this spring
If bitcoin going from $15 per BTC to $1,000 per BTC over the last 6 or so years didn't end fiat.
Somehow, I don't think the jump from $1,000 to $10,000 would be any more significant.
The amount of fiat that has been spread is too many although the value is always decrease because inflation but if we compare the total value of fiat with bitcoin, the total value of fiat is still bigger than total value of bitcoin. But it doesn't mean that bitcoin will never defeat fiat. Somehow, I don't think the jump from $1,000 to $10,000 would be any more significant.
If the price of bitcoin is keep up, I am sure that fiat will be worthless. I think bitcoin need reach more than $10.000.
I think it will take very long time for the bitcoin to have higher value than fiat such as US dollar.
If bitcoin going from $15 per BTC to $1,000 per BTC over the last 6 or so years didn't end fiat.
Somehow, I don't think the jump from $1,000 to $10,000 would be any more significant.
The amount of fiat that has been spread is too many although the value is always decrease because inflation but if we compare the total value of fiat with bitcoin, the total value of fiat is still bigger than total value of bitcoin. But it doesn't mean that bitcoin will never defeat fiat. Somehow, I don't think the jump from $1,000 to $10,000 would be any more significant.
If the price of bitcoin is keep up, I am sure that fiat will be worthless. I think bitcoin need reach more than $10.000.
Fiat can never be worthless even if price of bitcoins goes that high as we know the fact that we cannot spend bitcoins directly and whenever we want to spend them we need to convert them to fiat first so till this scenario doesn't change I don't think fiat is going anywhere as people will need fiat to convert their bitcoins.
I agree, fiat never worthless because of regulation. Fiat will be worthless if all people around the world use digital currency, but it will become rare maybe $1 fiat be 100 BTC
If bitcoin going from $15 per BTC to $1,000 per BTC over the last 6 or so years didn't end fiat.
Somehow, I don't think the jump from $1,000 to $10,000 would be any more significant.
Somehow, I don't think the jump from $1,000 to $10,000 would be any more significant.
Even the bitcoin price will turn into $11,000 dollars it will never replace fiat , fiat is the only way where we can turn our bitcoin into physical money to use into our daily living fiat is the best people to use but if bitcoin will be use on the future as currency offline payment bills and anything else bitcoin will be popular.
I think fiat will no be worthless if ever a bitcoin will rise at that rate. In the first place, bitcoin value is in fiat. Second, not all the time you have an internet connection to be able to process all your transactions. If it will be useless, many banks including world bank will be useless too. And world bank will not let that happen.
Above mate has made a perfect statement at the end that world bank will not let it happen. Internet connection and the technology will improve with additional features but the price of bitcoin reaching $10000 and making fiat worthless is not realistic. When bitcoin reaches $10000 the opposition from banking sectors as well governments will be big which might even pave path to destruction.
If bitcoin get 10k$ i think it will be use anywhere. Because popularity will put him in every shop.
I think fiat will no be worthless if ever a bitcoin will rise at that rate. In the first place, bitcoin value is in fiat. Second, not all the time you have an internet connection to be able to process all your transactions. If it will be useless, many banks including world bank will be useless too. And world bank will not let that happen.
I think the internet will be universal in the future, so there is no need to be no negative.
If bitcoin price will get higher I think that fiat won't still worthless since we cannot use bitcoin anywhere.
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
In the world of assets nothing is worthless though an assets can be devalued. It will take along time for bitcoin to get to $10,000 something extraordinary has to happen. I don't think bitcoin and crypto currencies in general will succeed in warping out fiat completely. In my opinion fiat may be reduced to locality as most villages has no internet connectivity. Do you agree with this statement?
I think fiat will no be worthless if ever a bitcoin will rise at that rate. In the first place, bitcoin value is in fiat. Second, not all the time you have an internet connection to be able to process all your transactions. If it will be useless, many banks including world bank will be useless too. And world bank will not let that happen.
I think the internet will be universal in the future, so there is no need to be no negative.
I think fiat will no be worthless if ever a bitcoin will rise at that rate. In the first place, bitcoin value is in fiat. Second, not all the time you have an internet connection to be able to process all your transactions. If it will be useless, many banks including world bank will be useless too. And world bank will not let that happen.
Although the price of the bitcoin 1 million dollars, I'm sure bitcoin will not bring any impact with fiat money. This is due to the protection of the country with fiat money. Moreover, many countries that still prohibit bitcoin.
Fiat can never be worthless even if price of bitcoins goes that high as we know the fact that we cannot spend bitcoins directly and whenever we want to spend them we need to convert them to fiat first so till this scenario doesn't change I don't think fiat is going anywhere as people will need fiat to convert their bitcoins.
I agree, fiat never worthless because of regulation. Fiat will be worthless if all people around the world use digital currency, but it will become rare maybe $1 fiat be 100 BTC
Fiat can never be worthless even if price of bitcoins goes that high as we know the fact that we cannot spend bitcoins directly and whenever we want to spend them we need to convert them to fiat first so till this scenario doesn't change I don't think fiat is going anywhere as people will need fiat to convert their bitcoins.
I agree, fiat never worthless because of regulation. Fiat will be worthless if all people around the world use digital currency, but it will become rare maybe $1 fiat be 100 BTC
Fiat can never be worthless even if price of bitcoins goes that high as we know the fact that we cannot spend bitcoins directly and whenever we want to spend them we need to convert them to fiat first so till this scenario doesn't change I don't think fiat is going anywhere as people will need fiat to convert their bitcoins.
No matter what happens fiat will never be worthless. It is the foundation of the financial system for each country [1]even bitcoin is going to reach up to million dollar it will not affect the worth and usage of fiat. Because it's decentralize government cannot trust bitcoin [2]but they can just collect tax from it from the goods and services we consume upon using it.
[1] How sure are you of that? Bitcoin reaching a million dollar would mean the mass adoption is happening and it's affecting the world's economy since billions of fiat money are already converted to bitcoins. The usage of fiat would surely not be affected at that time even though, since most people are using bitcoins, most establishments are already accepting bitcoins as payment.
[2] How, though? The whole point of bitcoin isn't being free from the government and that includes being free from paying taxes. If the government would somehow successfully be able to get tax from us, a lot of us would be disappointed.
In regards to [2], look at how income taxes are levied. The onus is on businesses to report and withhold taxes for employees. It would be exactly the same under a bitcoin economy. If you think that businesses are suddenly going to start disobeying the law, where they have every opportunity to do so now as well, just because bitcoin is used... well, that sounds overly naive to me. Businesses could pay everyone in cash currently, but they don't because there are laws on the books about income and FICA taxes that they are required to withhold. There's no reason to expect you're going to be an effective tax dodger in a bitcoin-denominated economy.
Fiat can never be worthless even if price of bitcoins goes that high as we know the fact that we cannot spend bitcoins directly and whenever we want to spend them we need to convert them to fiat first so till this scenario doesn't change I don't think fiat is going anywhere as people will need fiat to convert their bitcoins.
I agree, fiat never worthless because of regulation. Fiat will be worthless if all people around the world use digital currency, but it will become rare maybe $1 fiat be 100 BTC
Fiat can never be worthless even if price of bitcoins goes that high as we know the fact that we cannot spend bitcoins directly and whenever we want to spend them we need to convert them to fiat first so till this scenario doesn't change I don't think fiat is going anywhere as people will need fiat to convert their bitcoins.
No matter what happens fiat will never be worthless. It is the foundation of the financial system for each country [1]even bitcoin is going to reach up to million dollar it will not affect the worth and usage of fiat. Because it's decentralize government cannot trust bitcoin [2]but they can just collect tax from it from the goods and services we consume upon using it.
[1] How sure are you of that? Bitcoin reaching a million dollar would mean the mass adoption is happening and it's affecting the world's economy since billions of fiat money are already converted to bitcoins. The usage of fiat would surely not be affected at that time even though, since most people are using bitcoins, most establishments are already accepting bitcoins as payment.
[2] How, though? The whole point of bitcoin isn't being free from the government and that includes being free from paying taxes. If the government would somehow successfully be able to get tax from us, a lot of us would be disappointed.
Fiat cannot be worthless, it will only depreciate and its because of the support and the fact that if you want to know how worthless a country is, check the strength of its Fiat and if bitcoin should go as high as that, then I see government coming with decisions such as redominating the currency we have now or even changing the currency all together. Sometimes they can even go the extreme measure by overhauling the whole financial system of the country.
Fiat can never be worthless even if price of bitcoins goes that high as we know the fact that we cannot spend bitcoins directly and whenever we want to spend them we need to convert them to fiat first so till this scenario doesn't change I don't think fiat is going anywhere as people will need fiat to convert their bitcoins.
I agree, fiat never worthless because of regulation. Fiat will be worthless if all people around the world use digital currency, but it will become rare maybe $1 fiat be 100 BTC
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