If bitcoin price is $10.000, will fiat be worthless? - page 31.

burner2014

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Quote from: hurain on January 20, 2017, 09:57:25 AM

yes it is a fact that bitcoin is the first alternative to fiat, but still its use is not so much as still after 7 years the users of bitcoin may not be more that 1% of the total population, so i we can say that it is even not possible in near future that bitcoin will replace bitcoin or even will effect the value of fiat, i think it will take decades.

Yeah it will take time if after 10 years that almost all people including people lives in province knows how to access internet.
But, I am still in doubt that it will replace fiat because bitcoins transaction is anonymous and government needs to know how much you are earning as well as your expenses if in terms of business.

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Quote from: andrei56 on January 19, 2017, 11:02:24 PM

Quote from: Hatuferu on January 19, 2017, 02:53:00 AM

Quote from: diegz on January 19, 2017, 02:18:27 AM

Quote from: sabbirshm on January 19, 2017, 02:14:35 AM

I think Fiat has it's own important.It can't be worthless for bitcoin at 10000$.Because many countries people doesn't aware of bitcoin till now.And many government don't accept bitcoin till now.So in these contry bitcoin is worthless cause you can't buy daily accessories with bitcoin.That's why,I think bitcoin can't make fiat worthless.

That's one reason why fiat will never be worthless and bitcoin replacing it. Lets accept the truth that the world is not uniform. If there are places where bitcoin can be used, there are also places where it is not being used. Not to mention that even at places where bitcoin is used, there are still people who can't even afford to buy a gadget and afford an internet subscription. So even when the price of bitcoin goes to the moon, fiat will still be fiat and will still has a value.

I know the world is using fiat despite of the fact some has uses bitcoin, it's only 1% of the total population who uses bitcoin, so it's not a big threat to fiat.

Despite the small number of bitcoin users the coins has reached a very high price, so make no mistake bitcoin is a very big threat to the fiat system, it is not going to replace it but for the very first time we have an alternative.

yes it is a fact that bitcoin is the first alternative to fiat, but still its use is not so much as still after 7 years the users of bitcoin may not be more that 1% of the total population, so i we can say that it is even not possible in near future that bitcoin will replace bitcoin or even will effect the value of fiat, i think it will take decades.

passwordnow

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Quote from: Viscore on January 19, 2017, 01:58:42 AM

Quote from: passwordnow on January 18, 2017, 11:10:24 PM

Quote from: burwell39 on January 18, 2017, 10:28:55 PM

Of course the fiat will be worthless and Nobody uses fiat anymore because Bitcoin will be a central digital currency we can purchase, make payment, do investing and trading without fiat .

Mate let's get real here. Fiat will never going to be worthless as long as the government is going to support paper money / fiat, it will always be worth it whatever is going to be the price of bitcoin. Even it will reach millions still the government is not going to gamble their financial system with a limited supply of bitcoin and decentralized one.

You can't change his decision as literally he does not understand how strong the fiat system is. All of us are using fiat despite the fact that we are supporting bitcoin, it must be put in our mind that bitcoin has it's limit and will never gonna surpass the power of the government.

Well we can't do about something on what he is believing but the government is really powerful and it is the one responsible for the things that we are availing and using in our country. But if there is going to be a chance that the government is going to see on how bitcoins potential is good enough then that is going to make bitcoins on the scene but still they won't give up fiat.

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Quote from: Hatuferu on January 19, 2017, 02:53:00 AM

Quote from: diegz on January 19, 2017, 02:18:27 AM

Quote from: sabbirshm on January 19, 2017, 02:14:35 AM

I think Fiat has it's own important.It can't be worthless for bitcoin at 10000$.Because many countries people doesn't aware of bitcoin till now.And many government don't accept bitcoin till now.So in these contry bitcoin is worthless cause you can't buy daily accessories with bitcoin.That's why,I think bitcoin can't make fiat worthless.

That's one reason why fiat will never be worthless and bitcoin replacing it. Lets accept the truth that the world is not uniform. If there are places where bitcoin can be used, there are also places where it is not being used. Not to mention that even at places where bitcoin is used, there are still people who can't even afford to buy a gadget and afford an internet subscription. So even when the price of bitcoin goes to the moon, fiat will still be fiat and will still has a value.

I know the world is using fiat despite of the fact some has uses bitcoin, it's only 1% of the total population who uses bitcoin, so it's not a big threat to fiat.

Despite the small number of bitcoin users the coins has reached a very high price, so make no mistake bitcoin is a very big threat to the fiat system, it is not going to replace it but for the very first time we have an alternative.

poplolnman

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Quote from: Mastsetad on January 19, 2017, 12:44:34 PM

Quote from: Borgminer on January 19, 2017, 05:42:26 AM

lol fiat will never be worthless .

Indeed. It can probably change its shape but it will never be worthless. Maybe in coming time fiat becomes digital also like bitcoin and other currencies and it will be used digitally everywhere in the world but it cannot be worthless just because of bitcoin as bitcoin has no involvement in physical world yet.

The transformatiin from physical money to digital money so far not really good and smooth , a lot of people still feel confused with the concept of bitcoin. Even we are as bitcoin enthusiast sometimes feel the same too . Hard to make fiat worthless it would live for long time.

jackshephard

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Depending on the time fiat might have already devaluated overtime BUT I don't think it will be worthless, I think it would still be the way we evaluate the value of bitcoins..

audaciousbeing

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Even if bitcoin leaves to be $10000 and move to $20000 fiat will won't and will never be worthless because no matter how you paint it the population involved in fiat out weight those involved in bitcoin in which government will pick over those involved with bitcoin. Part of the power of a country is determined by the value of the currency then if the Fiat should lose value, it means government have failed woefully and the economy has gone hay wire.

And also, the reason why btc will go that high will be because the coins available is now more than those demanding and not necessary to dislodge Fiat.

Bitcoinsummoner

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Quote from: Mastsetad on January 19, 2017, 12:44:34 PM

Quote from: Borgminer on January 19, 2017, 05:42:26 AM

lol fiat will never be worthless .

Indeed. It can probably change its shape but it will never be worthless. Maybe in coming time fiat becomes digital also like bitcoin and other currencies and it will be used digitally everywhere in the world but it cannot be worthless just because of bitcoin as bitcoin has no involvement in physical world yet.

Its already been happen that we are also using digital money.. cardless option like credit card that we can also use for online shoping anywhere online ATM master card and credit card.. we can also have VCC just like here in my place they are using paymaya and you can shop anywhere using paymaya and they can scan it also already use their service and buy domain godaddy few weeks ago and its work fine for me.. so bitcoin is just a good alternative even the price will increase more..

Mastsetad

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Quote from: Borgminer on January 19, 2017, 05:42:26 AM

lol fiat will never be worthless .

Indeed. It can probably change its shape but it will never be worthless. Maybe in coming time fiat becomes digital also like bitcoin and other currencies and it will be used digitally everywhere in the world but it cannot be worthless just because of bitcoin as bitcoin has no involvement in physical world yet.

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Quote from: Qunenin on January 19, 2017, 03:37:40 AM

Quote from: Mr. Big on January 18, 2017, 02:25:23 AM

Quote from: boyptc on January 17, 2017, 11:49:16 PM

Quote from: andrei56 on January 17, 2017, 11:17:06 PM

If bitcoin reaches 10,000 fiat will not be worthless but without a doubt it will bring a lot of attention to bitcoin and new adopters and that could lead to the eventual world adoption of bitcoin.

That's plausible to happen as the price of bitcoin is going to keep on increasing fiat will remain. And for sure people who are really going to be amazed with the price of bitcoin if that happens will adopt it instantly and hoping to earn 1 bitcoin hardly. Fiat will not be worthless but yes, it will going to attract a lot of new people and users.

Not really user that we are going to attract when the price of bitcoin is worth $10,000 but people who wants to take advantage of its price... Most of them will be for the profit even if they really don't know what bitcoin is, as long as they could earn from this... Later on they will still be cashing out to fiat...

World adoption of bitcoin won't happen that easy and not even when the price reached $10,000, it will take time before the world learn to like bitcoin.

I dont understand the logic of bitcoin reached to $10000 and fiat becoming worthless. So basically we are comparing Fiat will bitcoin so if the Bitcoin reaches 10000$, people will dump it to get the Fiat, so Fiat cant be dead unless forcefully announced that Fiat currencies has no value and bitcoin is the only source of transactions.

It is easy to understand, when bitcoin reaches higher price then that is going to make the fiat worthless. But of course we all know that fiat is supreme currency and being backed up by the government. So it is not that going to be worthless easily there are a lot of things that needs to happen to make fiat worthless.

kidoseagle0312

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Quote from: virtualx on December 13, 2015, 05:25:39 AM

In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?

Its only a topic dude, according to what you had read. That's means 10,000$ had no assurance to reach it, Imagine from 2009 up to now 2017 the price of bitcoin is between 900$ something and within 8 years there is fluctuation happened. So if 10,000$ it might take 90 or 100 years before it happens, base in my calculation.

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Quote from: lol3c on January 19, 2017, 04:37:15 AM

Quote from: GreenBits on January 19, 2017, 04:12:10 AM

Quote from: Hatuferu on January 19, 2017, 02:53:00 AM

Quote from: diegz on January 19, 2017, 02:18:27 AM

Quote from: sabbirshm on January 19, 2017, 02:14:35 AM

I think Fiat has it's own important.It can't be worthless for bitcoin at 10000$.Because many countries people doesn't aware of bitcoin till now.And many government don't accept bitcoin till now.So in these contry bitcoin is worthless cause you can't buy daily accessories with bitcoin.That's why,I think bitcoin can't make fiat worthless.

That's one reason why fiat will never be worthless and bitcoin replacing it. Lets accept the truth that the world is not uniform. If there are places where bitcoin can be used, there are also places where it is not being used. Not to mention that even at places where bitcoin is used, there are still people who can't even afford to buy a gadget and afford an internet subscription. So even when the price of bitcoin goes to the moon, fiat will still be fiat and will still has a value.

I know the world is using fiat despite of the fact some has uses bitcoin, it's only 1% of the total population who uses bitcoin, so it's not a big threat to fiat.

Thats true even Bitcoin reach that amount Bitcoin is not accepted in major bank , markets and etc.We still need fiat because this is the importance of existence of every country.And the government also dont accept that.

Wrong. There is no evidence that Bitcoin will not be accepted in the future. Bitcoin will replace fiat because it is too innovative and remarkable. Along with its technology, I can ensure that Bitcoin and Blockchain will be used widely in the future. Anyhow, Fiat have been a part of our life for many decades and it will be a little bit sad if we have to say goodbye to it

Yes if bitcoin happens to reach that amount it only means that it has a much larger demand compared to now so it is possible to think that many people are already using it so woudn't merchants accept it? But the thing about bitcoins replacing fiat . It can happen cause we will always change our form of money or should I say our medium to exchange things? From goods to the coins that has a physical content that determines its exchange value and to our paper money now . But our past medium of exchange has still a role here right? So even if fiat gets replaced by something it will not be worthless .

Many experts are saying that our technology will continue to bloom and it will certainly affect our way of living . Almost everything will change and so our money also .

Borgminer

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lol fiat will never be worthless .

Pattart

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Quote from: GreenBits on January 19, 2017, 04:42:31 AM

Quote from: lol3c on January 19, 2017, 04:37:15 AM

Quote from: GreenBits on January 19, 2017, 04:12:10 AM

Quote from: Hatuferu on January 19, 2017, 02:53:00 AM

Quote from: diegz on January 19, 2017, 02:18:27 AM

Quote from: sabbirshm on January 19, 2017, 02:14:35 AM

I think Fiat has it's own important.It can't be worthless for bitcoin at 10000$.Because many countries people doesn't aware of bitcoin till now.And many government don't accept bitcoin till now.So in these contry bitcoin is worthless cause you can't buy daily accessories with bitcoin.That's why,I think bitcoin can't make fiat worthless.

That's one reason why fiat will never be worthless and bitcoin replacing it. Lets accept the truth that the world is not uniform. If there are places where bitcoin can be used, there are also places where it is not being used. Not to mention that even at places where bitcoin is used, there are still people who can't even afford to buy a gadget and afford an internet subscription. So even when the price of bitcoin goes to the moon, fiat will still be fiat and will still has a value.

I know the world is using fiat despite of the fact some has uses bitcoin, it's only 1% of the total population who uses bitcoin, so it's not a big threat to fiat.

Thats true even Bitcoin reach that amount Bitcoin is not accepted in major bank , markets and etc.We still need fiat because this is the importance of existence of every country.And the government also dont accept that.

Wrong. There is no evidence that Bitcoin will not be accepted in the future. Bitcoin will replace fiat because it is too innovative and remarkable. Along with its technology, I can ensure that Bitcoin and Blockchain will be used widely in the future. Anyhow, Fiat have been a part of our life for many decades and it will be a little bit sad if we have to say goodbye to it

That's true and possible but to replace fiat is impossible because every country have their own fiat and this is the proof that they country existence and I think they didn't accept Bitcoin but they make their own Bitcoin like.

of course it will be difficult for bitcoin to replace fiat, because every country will certainly defend their currencies. bitcoin highly valued if I think it will not change things, fiat currency will still be a major currency

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Quote from: Qunenin on January 19, 2017, 03:37:40 AM

Quote from: Mr. Big on January 18, 2017, 02:25:23 AM

Quote from: boyptc on January 17, 2017, 11:49:16 PM

Quote from: andrei56 on January 17, 2017, 11:17:06 PM

If bitcoin reaches 10,000 fiat will not be worthless but without a doubt it will bring a lot of attention to bitcoin and new adopters and that could lead to the eventual world adoption of bitcoin.

That's plausible to happen as the price of bitcoin is going to keep on increasing fiat will remain. And for sure people who are really going to be amazed with the price of bitcoin if that happens will adopt it instantly and hoping to earn 1 bitcoin hardly. Fiat will not be worthless but yes, it will going to attract a lot of new people and users.

Not really user that we are going to attract when the price of bitcoin is worth $10,000 but people who wants to take advantage of its price... Most of them will be for the profit even if they really don't know what bitcoin is, as long as they could earn from this... Later on they will still be cashing out to fiat...

World adoption of bitcoin won't happen that easy and not even when the price reached $10,000, it will take time before the world learn to like bitcoin.

I dont understand the logic of bitcoin reached to $10000 and fiat becoming worthless. So basically we are comparing Fiat will bitcoin so if the Bitcoin reaches 10000$, people will dump it to get the Fiat, so Fiat cant be dead unless forcefully announced that Fiat currencies has no value and bitcoin is the only source of transactions

This is only one avenue along which the events may unfold

Since we are talking about Bitcoin being priced in dollars, going to 10,000 dollars per coin can be done in a few ways, which basically follow two major routes. In the first case, Bitcoin may rally due to just another pump-and-dump endeavor by Bitcoin whales or market manipulators. And in this case, people may indeed start massively converting their Bitcoin stashes to dollars. On the other hand, the dollar itself may get massively devalued (read enter a hyperinflation spiral), and in the latter case, there is no reason to think that people will dump bitcoins. In fact, they will be dumping dollars for more reliable currencies with Bitcoin being one of them

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Quote from: lol3c on January 19, 2017, 04:37:15 AM

Quote from: GreenBits on January 19, 2017, 04:12:10 AM

Quote from: Hatuferu on January 19, 2017, 02:53:00 AM

Quote from: diegz on January 19, 2017, 02:18:27 AM

Quote from: sabbirshm on January 19, 2017, 02:14:35 AM

I think Fiat has it's own important.It can't be worthless for bitcoin at 10000$.Because many countries people doesn't aware of bitcoin till now.And many government don't accept bitcoin till now.So in these contry bitcoin is worthless cause you can't buy daily accessories with bitcoin.That's why,I think bitcoin can't make fiat worthless.

That's one reason why fiat will never be worthless and bitcoin replacing it. Lets accept the truth that the world is not uniform. If there are places where bitcoin can be used, there are also places where it is not being used. Not to mention that even at places where bitcoin is used, there are still people who can't even afford to buy a gadget and afford an internet subscription. So even when the price of bitcoin goes to the moon, fiat will still be fiat and will still has a value.

I know the world is using fiat despite of the fact some has uses bitcoin, it's only 1% of the total population who uses bitcoin, so it's not a big threat to fiat.

Thats true even Bitcoin reach that amount Bitcoin is not accepted in major bank , markets and etc.We still need fiat because this is the importance of existence of every country.And the government also dont accept that.

Wrong. There is no evidence that Bitcoin will not be accepted in the future. Bitcoin will replace fiat because it is too innovative and remarkable. Along with its technology, I can ensure that Bitcoin and Blockchain will be used widely in the future. Anyhow, Fiat have been a part of our life for many decades and it will be a little bit sad if we have to say goodbye to it

That's true and possible but to replace fiat is impossible because every country have their own fiat and this is the proof that they country existence and I think they didn't accept Bitcoin but they make their own Bitcoin like.

diegz

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Quote from: lol3c on January 19, 2017, 04:37:15 AM

Quote from: GreenBits on January 19, 2017, 04:12:10 AM

Quote from: Hatuferu on January 19, 2017, 02:53:00 AM

Quote from: diegz on January 19, 2017, 02:18:27 AM

Quote from: sabbirshm on January 19, 2017, 02:14:35 AM

I think Fiat has it's own important.It can't be worthless for bitcoin at 10000$.Because many countries people doesn't aware of bitcoin till now.And many government don't accept bitcoin till now.So in these contry bitcoin is worthless cause you can't buy daily accessories with bitcoin.That's why,I think bitcoin can't make fiat worthless.

That's one reason why fiat will never be worthless and bitcoin replacing it. Lets accept the truth that the world is not uniform. If there are places where bitcoin can be used, there are also places where it is not being used. Not to mention that even at places where bitcoin is used, there are still people who can't even afford to buy a gadget and afford an internet subscription. So even when the price of bitcoin goes to the moon, fiat will still be fiat and will still has a value.

I know the world is using fiat despite of the fact some has uses bitcoin, it's only 1% of the total population who uses bitcoin, so it's not a big threat to fiat.

Thats true even Bitcoin reach that amount Bitcoin is not accepted in major bank , markets and etc.We still need fiat because this is the importance of existence of every country.And the government also dont accept that.

Wrong. There is no evidence that Bitcoin will not be accepted in the future. Bitcoin will replace fiat because it is too innovative and remarkable. Along with its technology, I can ensure that Bitcoin and Blockchain will be used widely in the future. Anyhow, Fiat have been a part of our life for many decades and it will be a little bit sad if we have to say goodbye to it

But government could also make an innovation with fiat and if they are about to accept a digital currency, it will be something that is they build their own and under their control. Something that is centralized. Most probably copying the blockchain technology is the best that they could get on bitcoin, but not bitcoin. Bitcoin might not suffice even to a single country.

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Quote from: GreenBits on January 19, 2017, 04:12:10 AM

Quote from: Hatuferu on January 19, 2017, 02:53:00 AM

Quote from: diegz on January 19, 2017, 02:18:27 AM

Quote from: sabbirshm on January 19, 2017, 02:14:35 AM

I think Fiat has it's own important.It can't be worthless for bitcoin at 10000$.Because many countries people doesn't aware of bitcoin till now.And many government don't accept bitcoin till now.So in these contry bitcoin is worthless cause you can't buy daily accessories with bitcoin.That's why,I think bitcoin can't make fiat worthless.

That's one reason why fiat will never be worthless and bitcoin replacing it. Lets accept the truth that the world is not uniform. If there are places where bitcoin can be used, there are also places where it is not being used. Not to mention that even at places where bitcoin is used, there are still people who can't even afford to buy a gadget and afford an internet subscription. So even when the price of bitcoin goes to the moon, fiat will still be fiat and will still has a value.

I know the world is using fiat despite of the fact some has uses bitcoin, it's only 1% of the total population who uses bitcoin, so it's not a big threat to fiat.

Thats true even Bitcoin reach that amount Bitcoin is not accepted in major bank , markets and etc.We still need fiat because this is the importance of existence of every country.And the government also dont accept that.

Wrong. There is no evidence that Bitcoin will not be accepted in the future. Bitcoin will replace fiat because it is too innovative and remarkable. Along with its technology, I can ensure that Bitcoin and Blockchain will be used widely in the future. Anyhow, Fiat have been a part of our life for many decades and it will be a little bit sad if we have to say goodbye to it

GreenBits

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Quote from: Hatuferu on January 19, 2017, 02:53:00 AM

Quote from: diegz on January 19, 2017, 02:18:27 AM

Quote from: sabbirshm on January 19, 2017, 02:14:35 AM

I think Fiat has it's own important.It can't be worthless for bitcoin at 10000$.Because many countries people doesn't aware of bitcoin till now.And many government don't accept bitcoin till now.So in these contry bitcoin is worthless cause you can't buy daily accessories with bitcoin.That's why,I think bitcoin can't make fiat worthless.

That's one reason why fiat will never be worthless and bitcoin replacing it. Lets accept the truth that the world is not uniform. If there are places where bitcoin can be used, there are also places where it is not being used. Not to mention that even at places where bitcoin is used, there are still people who can't even afford to buy a gadget and afford an internet subscription. So even when the price of bitcoin goes to the moon, fiat will still be fiat and will still has a value.

I know the world is using fiat despite of the fact some has uses bitcoin, it's only 1% of the total population who uses bitcoin, so it's not a big threat to fiat.

Thats true even Bitcoin reach that amount Bitcoin is not accepted in major bank , markets and etc.We still need fiat because this is the importance of existence of every country.And the government also dont accept that.

Qunenin

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Quote from: Mr. Big on January 18, 2017, 02:25:23 AM

Quote from: boyptc on January 17, 2017, 11:49:16 PM

Quote from: andrei56 on January 17, 2017, 11:17:06 PM

If bitcoin reaches 10,000 fiat will not be worthless but without a doubt it will bring a lot of attention to bitcoin and new adopters and that could lead to the eventual world adoption of bitcoin.

That's plausible to happen as the price of bitcoin is going to keep on increasing fiat will remain. And for sure people who are really going to be amazed with the price of bitcoin if that happens will adopt it instantly and hoping to earn 1 bitcoin hardly. Fiat will not be worthless but yes, it will going to attract a lot of new people and users.

Not really user that we are going to attract when the price of bitcoin is worth $10,000 but people who wants to take advantage of its price... Most of them will be for the profit even if they really don't know what bitcoin is, as long as they could earn from this... Later on they will still be cashing out to fiat...

World adoption of bitcoin won't happen that easy and not even when the price reached $10,000, it will take time before the world learn to like bitcoin.

I dont understand the logic of bitcoin reached to $10000 and fiat becoming worthless. So basically we are comparing Fiat will bitcoin so if the Bitcoin reaches 10000$, people will dump it to get the Fiat, so Fiat cant be dead unless forcefully announced that Fiat currencies has no value and bitcoin is the only source of transactions.

Topic: If bitcoin price is $10.000, will fiat be worthless? - page 31. (Read 145055 times)