Topic: If bitcoin price is $10.000, will fiat be worthless? - page 40. (Read 145035 times)
If the price of bitcoins was to go that high hodlers and most bitcoiners will be selling off their bitcoins for fiat and might cause more demand for fiat itself but I think this would negatively affect the bitcoin price as their would be more supply than demand causing the bitcoin price to drop faster than imagined!!
No i dont think that fiat would be worthless when the bitcoin price goes up at 10k$. First thing is you will be converting bitcoin into fiat to be able to spend it your country. You can only use bitcoin online,but fiat is the well known currency we used in different country.
It does not work that way because the price of bitcoin is basically base on fiat, without fiat bitcoin would not reach that amount. Just by simply understanding that bitcoin will never be the mainstream currency like what others are thinking will make us appreciate the value of fiat and bitcoin.I would agree, bitcoin can't be mainstream currency which over 20% people of the population on this planet will use it, since bitcoin designed as alternative currency and have limited supply.
Government will not just let their currency fall, it's have been here since the 11th century when first time paper money introduced.
many weaknesses for bitcoin because it is really needs internet to be make transaction.. there is some place that there is still no internet.. like in our province here in my country.. you need to go to the top of the hill before you can get a signal for internet..
For places which has physical problems to get internet, bitcoin may not be popular and worth using. That is a good reason why fiat stills rules large in those countries and people dont get the basic internet facilities yet. However times are changing and we may soon see better amenities of life with improved conditions later on.
No i dont think that fiat would be worthless when the bitcoin price goes up at 10k$. First thing is you will be converting bitcoin into fiat to be able to spend it your country. You can only use bitcoin online,but fiat is the well known currency we used in different country.
It does not work that way because the price of bitcoin is basically base on fiat, without fiat bitcoin would not reach that amount. Just by simply understanding that bitcoin will never be the mainstream currency like what others are thinking will make us appreciate the value of fiat and bitcoin.I would agree, bitcoin can't be mainstream currency which over 20% people of the population on this planet will use it, since bitcoin designed as alternative currency and have limited supply.
Government will not just let their currency fall, it's have been here since the 11th century when first time paper money introduced.
many weaknesses for bitcoin because it is really needs internet to be make transaction.. there is some place that there is still no internet.. like in our province here in my country.. you need to go to the top of the hill before you can get a signal for internet..
no it will not be worthless at all.bitcoins price may increase too much but fiat is fiat .people will not be able to understand too much and end up protesting about it.beating fiat is next to impossible.
I have same thinking about this matter, its very hard that fiat will be worthless one day, and OPs headline is a bit contrary, how can fiat will be worthless and price for one bitcoin to be 10000 $. If fiat is worthless then we cant measure price of bitcoin with dollars.
No i dont think that fiat would be worthless when the bitcoin price goes up at 10k$. First thing is you will be converting bitcoin into fiat to be able to spend it your country. You can only use bitcoin online,but fiat is the well known currency we used in different country.
It does not work that way because the price of bitcoin is basically base on fiat, without fiat bitcoin would not reach that amount. Just by simply understanding that bitcoin will never be the mainstream currency like what others are thinking will make us appreciate the value of fiat and bitcoin.I would agree, bitcoin can't be mainstream currency which over 20% people of the population on this planet will use it, since bitcoin designed as alternative currency and have limited supply.
Government will not just let their currency fall, it's have been here since the 11th century when first time paper money introduced.
no it will not be worthless at all.bitcoins price may increase too much but fiat is fiat .people will not be able to understand too much and end up protesting about it.beating fiat is next to impossible.
I think this is a price that can still be achieved, hope bitcoin made sure already calculated that 1 satosi must have the value of 1 cent or more. So I believe that price is the usual in 5 years again.
No i dont think that fiat would be worthless when the bitcoin price goes up at 10k$. First thing is you will be converting bitcoin into fiat to be able to spend it your country. You can only use bitcoin online,but fiat is the well known currency we used in different country.
It does not work that way because the price of bitcoin is basically base on fiat, without fiat bitcoin would not reach that amount. Just by simply understanding that bitcoin will never be the mainstream currency like what others are thinking will make us appreciate the value of fiat and bitcoin.
No i dont think that fiat would be worthless when the bitcoin price goes up at 10k$. First thing is you will be converting bitcoin into fiat to be able to spend it your country. You can only use bitcoin online,but fiat is the well known currency we used in different country.
if this happen ithink there will be no more fiat and all of us will use digital currency because if this happen and fiat is still there the economy will be destroy because it has a cycles thats why they're still balancing the situation and bitcoin still depending on investor when they will price will rise. im still looking forward till bitcoin hit 1000 us dollars . 
I think in the case that bitcoin will cost 10 000$ per 1 BTC government will ban it. Because in that case every bitcoin user will be more or less reach and all that people will try to cash out their money. And that will affect on the whole economy in the world. I think bitcoin will never grow so high. Government will not just let it to happen.
If all the people tried to cash out at the same time the price of bitcoin will crash, besides it is not like bitcoin could soak all the money out of circulation since the government could always print more of it.
I think in the case that bitcoin will cost 10 000$ per 1 BTC government will ban it. Because in that case every bitcoin user will be more or less reach and all that people will try to cash out their money. And that will affect on the whole economy in the world. I think bitcoin will never grow so high. Government will not just let it to happen.
If all the people tried to cash out at the same time the price of bitcoin will crash, besides it is not like bitcoin could soak all the money out of circulation since the government could always print more of it.The matter is the exact opposite of what you say
Bitcoin cannot possibly soak fiat currency out of circulation since it would actually add more fiat into circulation per same amount of goods, both directly (through immediate participation in the exchange of goods) and indirectly (through substituting fiat as a store of value). And the government would have to destroy fiat money (or Bitcoin, for that matter) instead of printing more of it
Fiat will never be worthless .there will be both ways of payments .and the price of bitcoins rising to 10000 dollars is a long way to go .and by that time it may have hapen many countries might banned the digital cryptocurrency bitcoins .kudoos 
Depend on the regulation the government is going to make. If bitcoin price is reaching $10,000 then the fiat will not be worthless but the bitcoin will be more precious. the fiat will remain the same and anything related to it will goes normally. the bitcoin price rising never affect fiat directly
I think in the case that bitcoin will cost 10 000$ per 1 BTC government will ban it. Because in that case every bitcoin user will be more or less reach and all that people will try to cash out their money. And that will affect on the whole economy in the world. I think bitcoin will never grow so high. Government will not just let it to happen.
If all the people tried to cash out at the same time the price of bitcoin will crash, besides it is not like bitcoin could soak all the money out of circulation since the government could always print more of it. 
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'm not agree that Fiat currency will become worthless and your question itself telling that Fiat currency can not be worthless because a Bitcoin worth $10000.
please note that you are measuring Bitcoin with Fiat money US Dollar.
so one thing is clear that without Fiat money you can not measure Bitcoin value.
Even Gold and Silver also are valued in Fiat currency.
So just think there is no Fiat currency in the world -:
1) How would you buy Bitcoin from others? What will you give in exchange of 1 Bitcoin?
2) How would you know that how much 1 Bitcoin worth because you said Fiat will be worthless ( Zero value)?
I'm sure this was mentioned in this thread but, people work and have to be paid for the work they do. I don't see that happening in bitcoins anytime soon so i don't think fiat will disappear unless something drastic happens.
What drastic action would be needed? Are we talking nuke wars, are we talking about red light district hoes taking bitcoin as a form of payment. Speak up dude because im trying to understand what you're saying but Im having problems.
Just so you know there are already companies that specialize in bitcoin payroll accounting and overstock even pays their employees in bitcoin if the employee chooses to get paid in Bitcoin.
I cant wait to see your reply.
Sure nuclear war between all super powers total destroying our current economical system might do it. I'm ok with red light district hoes taking bitcoins for payment but thats not what i'm thinking. I'm thinking the federal reserve coming in and strong arming the government into forfeiture of all assets in order to pay the ever growing debt. This can be followed by a restructuring of the US government with the federal reserve at it's helm. Maybe the sheeple residing in the USA will then wake up and ditch fiat for an alternative source like digital currency a la Bitcoins. It's all hypothetical BUT can happen. Basically, we need the WHOLE world to lose interest in using fiat as a form of payment and look for alternative means.
Your point about overstock paying their employees in bitcoins is cute but minute. I can see the few fedora wearing basement dwellers asking there bosses to send them their paychecks in bitcoins while the normies ask for a paycheck so they can spend it all on cocaine/titties. Maybe youre right, having the local bars, hoes and drug dealers taking bitcoins might be the tipping point to getting 10,000/btc
The one problem with your scenario that I see is that as much as people dislike and have a genuine distrust in uncle sam I believe wholeheartedly that this distrust runs way deeper up to and including the fed reserve. Sure they can come in and try to strong arm uncle sam but if uncle sam says no and pushes back then the fed will be stuck licking that debt like a cat cleaning a wound. I mean, what are they going to do? Storm the white house and ask Trump to cut them a check.
You see. If uncle sam decided tomorrow to issue a new fiat and break away from the fed who's going to stop them? JJanet Yellen. Wtf can she do. You see. Uncle sam controls the people and while its true that the fed controls uncles sams money, uncle sam can decide not to play nice anymore and make the fed a thing of the past. As for a restructuring of uncle sams homies, if you pay close attention to the news you'll see that this is already happening as Presiodent elect Donald trump is already replacing all the old staff with new mega billionaires. The restructuring is happening now and maybe if were lucky we'll even see him shut down Jannet and proclaim Bitcoin as the new national currency.
It's funny that you see overstock paying out salaries in bitcoin funny because just 8 years ago bitcoin wasn't even a thing and today people want to get paid in it. I dont see compaines paying employees with iphones yet that has been around way longer and has a larger user base (currently). Also, dont forget the people selling house, cars, planes, boats ect for bitcoin. https://www.bitpremier.com/5-real-estate
The second people sell real world assets for bitcoin you know it's going somehwere.
It's getting late friend and I am high as fuck, rambling on like a guy who's just spent 20 years in solitary confinement., I'll leave you with a short video of my uncle talking about bitcoin back in 2013. Enjoy.
https://www.youtube.com/watch?v=5NPmthx4KM4
No I do not think it would be worthless because the bitcoin is really depending on it and the fact is that the price is made by it.
I'm sure this was mentioned in this thread but, people work and have to be paid for the work they do. I don't see that happening in bitcoins anytime soon so i don't think fiat will disappear unless something drastic happens.
What drastic action would be needed? Are we talking nuke wars, are we talking about red light district hoes taking bitcoin as a form of payment. Speak up dude because im trying to understand what you're saying but Im having problems.
Just so you know there are already companies that specialize in bitcoin payroll accounting and overstock even pays their employees in bitcoin if the employee chooses to get paid in Bitcoin.
I cant wait to see your reply.
Sure nuclear war between all super powers total destroying our current economical system might do it. I'm ok with red light district hoes taking bitcoins for payment but thats not what i'm thinking. I'm thinking the federal reserve coming in and strong arming the government into forfeiture of all assets in order to pay the ever growing debt. This can be followed by a restructuring of the US government with the federal reserve at it's helm. Maybe the sheeple residing in the USA will then wake up and ditch fiat for an alternative source like digital currency a la Bitcoins. It's all hypothetical BUT can happen. Basically, we need the WHOLE world to lose interest in using fiat as a form of payment and look for alternative means.
Your point about overstock paying their employees in bitcoins is cute but minute. I can see the few fedora wearing basement dwellers asking there bosses to send them their paychecks in bitcoins while the normies ask for a paycheck so they can spend it all on cocaine/titties. Maybe youre right, having the local bars, hoes and drug dealers taking bitcoins might be the tipping point to getting 10,000/btc
Exactly, there are many things to consider than just the bitcoins price to be considered a legal tender and will replace fiat currency. One factor is the governments view on this, it is hard to persuade the government to throw away fiat currency because bitcoin has a value of 10k $ now. Remember fiat currency is a fuel of the government to make the society maintains its system of government and economy. Government has no hold on bitcoins and taxation problems is a big issue on bitcoins, without the taxes filling the national treasury government services will be useless and it is us who will suffer in the end.
They will have to think up something else that would encourage people to pay the taxes willingly, and not as they do it today, by threatening people with severe penalties and criminal prosecution. As a matter of fact, we may suffer in the end, but the government will be the first to feel the pain, so why should we care if they feel the same pain that we are feeling every day?
Fiat will never be worthless .there will be both ways of payments .and the price of bitcoins rising to 10000 dollars is a long way to go .and by that time it may have hapen many countries might banned the digital cryptocurrency bitcoins .kudoos
Depend on the regulation the government is going to make. If bitcoin price is reaching $10,000 then the fiat will not be worthless but the bitcoin will be more precious. the fiat will remain the same and anything related to it will goes normally. the bitcoin price rising never affect fiat directly
Exactly, there are many things to consider than just the bitcoins price to be considered a legal tender and will replace fiat currency. One factor is the governments view on this, it is hard to persuade the government to throw away fiat currency because bitcoin has a value of 10k $ now. Remember fiat currency is a fuel of the government to make the society maintains its system of government and economy. Government has no hold on bitcoins and taxation problems is a big issue on bitcoins, without the taxes filling the national treasury government services will be useless and it is us who will suffer in the end.
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