If bitcoin price is $10.000, will fiat be worthless? - page 32.

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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.

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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.

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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.

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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.

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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.

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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?

bitcoin value comes only from people who are willing to accept as payment. in some countries bitcoin is not accepted as paymen and still use a fiat as legal payment. I think though the price of bitcoin $ 10.000, as long several countries not accept bitcoin as legal payments. fiat will to be useful

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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 .

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Quote from: morgand on January 17, 2017, 10:07:45 PM

I think the price of bitcoin will not affect the fiat.
Fiat will stay the way they are, theyre a lot of people didnt understand to use crypto and dont really care about them
If the price of bitcoin reach $10.000? lol cant wait that day Roll Eyes

There's no really affection whether the price of bitcoin is going to reach up to $10,000 or even higher than that. It's hard to believe that fiat will be replace and no value at all just because of bitcoin. Thinking that bitcoin is still new crypto and its very impossible within this days that it is going to make the fiat worthless at all.

that is what i am talking about, bitcoin and fiat didnt the same. Yes, both of them for payment, but bitcoin is annonymous. So many people didnt trust and afraid getting scamed if using coin (at least in my country, theyre didnt know about bitcoin).

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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.

Even if at first that only attracts speculators or persons trying to obtain an easy profit, this will allow them to see for themselves the advantages bitcoin has over fiat and it may convince some of them to adopt it long term.

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I don't think there is a correlation between BTC price and fiat valuation.

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Quote from: mace15 on January 18, 2017, 12:24:47 PM

In my own opinion, I dont think FIAT will be worthless. Fiat is still the main curreny that is using worldwide. Bitcoin price may be unstable and if it will become to $10000, we can cashout into fiat. This means fiat is still the main used in any country. Bitcoin is not been adapted worldwide. All I can say is fiat is not worthless.

in fact fiat is not going to worthless in any case either the bitcoin even raise to any value. in fact fiat can only worthless when all the people of the world will start using bitcoin and it is not so much easy because still a very little number of people are using bitcoin. and perhaps it will take decades to reach to such position when all the people of the world will start using bitcoin.

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In my own opinion, I dont think FIAT will be worthless. Fiat is still the main curreny that is using worldwide. Bitcoin price may be unstable and if it will become to $10000, we can cashout into fiat. This means fiat is still the main used in any country. Bitcoin is not been adapted worldwide. All I can say is fiat is not worthless.

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Already fiat is worthless . No need to talk more about it ,

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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.

The price is not the main problem here, it will be the effect of the adoption, if the adoption is big then it will result to bigger prices and I don't think people will just come for profit and sell their holdings. There are smart investors like the whales, they know even if that price will be reach it will still continue to rise and they will benefit from that movement all the time.

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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.

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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.

andrei56

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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.

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I think the price of bitcoin will not affect the fiat.
Fiat will stay the way they are, theyre a lot of people didnt understand to use crypto and dont really care about them
If the price of bitcoin reach $10.000? lol cant wait that day Roll Eyes

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Quote from: markyminer on January 17, 2017, 03:37:50 PM

Quote from: millgates on January 16, 2017, 10:11:33 PM

Quote from: steelhouse on January 16, 2017, 07:37:08 PM

fiat can be used as a sidechain. Except for places where the currency is complete garbage, Argentina, Venezula, or Zimbabwe. Do you really want to put money in the bank so type As can spend it and then declare bankruptcy.

I agree with you all fiat/paper money will become garbage in the future. I am sure that fiat will be replaced by something better and appropriate for us. I think fiat system is bad for us now.

sorry but it is not so easy. because still 1 % of people are not using bitcoin, and even those people who are using bitcoin as currency they depend mostly on fiat. and i think even after 10 years the number of bitcoin uses cannot reach to 5% therefore still they will continue using fiat currency.

Yeah it's a fact that bitcoin development really run slow recently
Required hundred years to make a mass adoption , and while it's happeneing i still don't think fiat will disappear
Something that have established for long time will hard to fall
Fiat has been exist for hundred even thousands years isn't it?

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Quote from: roomfirst on January 14, 2017, 07:54:48 AM

I think the price of bitcoin will not affect the fiat. Even the price of bitcoin reach $100,000, the fiat still the same. But itf the bitcoin price is $10,000 or more, it will attract more people to use bitcoin, because it's really high price for a coin and maybe fiat user will change into bitcoin.

that is right. bitcoin market cap is tiny, probably around 0.1% while fiat marketcap can be 5% or even 30%. so it does not make sense that bitcoin price of $10,000 will affect fiat. but I do not know whether it will affect fiat when the price is $100,000

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