I think it will not affect on fiat instead people will start noticing bitcoin.
Imagine if people around the world start accepting bitcoin it mean that there will be bitcoin ATM, supermarket or public service such like restaurant , hotel etc also bitcoin as well
If this happen then bitcoin become more valuable than ever
Topic: If bitcoin price is $10.000, will fiat be worthless? - page 42. (Read 145055 times)
A very far-fetched event to happen, but even if bitcoin rose to an absurdly high price of $10000, fiat would still be dominant over bitcoin due to the latter being dependent to the former. Also, I doubt that it would climb that high without some major events--we've seen major companies accept bitcoin but still we haven't see a major price push.
It won't. Bitcoin has not yet received the necessary adoption it needs to replace Fiat currency. You can't buy groceries yet with bitcoins. Unless the world goes completely digital, this might not happen even if the price rises to $10,000 each. Even if it does rise that high, I think the governments will just create their own monetary system which shall also be digital to replace the fiat currency right now.
We may say that it won't today, but for the next days adoption will occur. But regardless the value of bitcoin, fiat will remain and will be used by the people because the government says so. And only if the government will implement total dump up for fiat money then fiat will be worthless at all, but I can't see that it will happen.
Nothing could be farther from truth than that
Fiat, say, the US dollar will be useless when and only when people are no longer accepting dollars as a payment for their goods and services. As long as they accept them, dollars are neither worthless nor useless. How much one bitcoin might cost is totally inconsequential to that. If most people stop selling their bitcoins (for whatever reason), the Bitcoin price can be insanely high, but this would have nothing to do with the value of the dollar in terms of goods
Yes value of dollar in terms of goods will remain constant. I really can't see that fiat will be totally worthless at all, just like what you have said if people who are offering services and goods will dump fiat then it will surely dumped easily but since they are law abiding businesses as the government told it has monetary value, it will remain.
It can be and quite easily at that
Hyperinflation is not something totally unseen before. It reflects the weakness of the state behind such a currency. In fact, by inflating its currency, governments may try to postpone their own collapse or to win some time, say, in a war. Warring countries usually deliberately devalue their currencies to grab more resources from population for warfare. And it makes perfect sense since if they lose (like the Third Reich), no one will give a fuck about their currency...
But if they win, they can always demand hefty reparations or just openly rob the defeated nation
It won't. Bitcoin has not yet received the necessary adoption it needs to replace Fiat currency. You can't buy groceries yet with bitcoins. Unless the world goes completely digital, this might not happen even if the price rises to $10,000 each. Even if it does rise that high, I think the governments will just create their own monetary system which shall also be digital to replace the fiat currency right now.
We may say that it won't today, but for the next days adoption will occur. But regardless the value of bitcoin, fiat will remain and will be used by the people because the government says so. And only if the government will implement total dump up for fiat money then fiat will be worthless at all, but I can't see that it will happen.
Nothing could be farther from truth than that
Fiat, say, the US dollar will be useless when and only when people are no longer accepting dollars as a payment for their goods and services. As long as they accept them, dollars are neither worthless nor useless. How much one bitcoin might cost is totally inconsequential to that. If most people stop selling their bitcoins (for whatever reason), the Bitcoin price can be insanely high, but this would have nothing to do with the value of the dollar in terms of goods
Yes value of dollar in terms of goods will remain constant. I really can't see that fiat will be totally worthless at all, just like what you have said if people who are offering services and goods will dump fiat then it will surely dumped easily but since they are law abiding businesses as the government told it has monetary value, it will remain.
It will depend on the reason for bitcoin to reach 10k if this was because bitcoin reached wide adoption around the world then I don't think fiat is going to be worthless however if this is because there is wild hyperinflation and you cannot buy anything with a dollar bill then that means that the dollar is in the process of becoming a second rate currency.
We might reach that level in the future but the journey would not be easy, it's the adoption that is necessary that is very hard since we are not yet fully supported by the government. Big businesses can really help to fast track the adoption stage but in their mind they have to protect their business and since bitcoin is a risky currency it will be hard for them to invest a bigger part of their assets.For the bitcoin, it is quite easy for the ordinary people to beat the whales. You can just buy and hold and make profit.
It will depend on the reason for bitcoin to reach 10k if this was because bitcoin reached wide adoption around the world then I don't think fiat is going to be worthless however if this is because there is wild hyperinflation and you cannot buy anything with a dollar bill then that means that the dollar is in the process of becoming a second rate currency.
We might reach that level in the future but the journey would not be easy, it's the adoption that is necessary that is very hard since we are not yet fully supported by the government. Big businesses can really help to fast track the adoption stage but in their mind they have to protect their business and since bitcoin is a risky currency it will be hard for them to invest a bigger part of their assets.
It will depend on the reason for bitcoin to reach 10k if this was because bitcoin reached wide adoption around the world then I don't think fiat is going to be worthless however if this is because there is wild hyperinflation and you cannot buy anything with a dollar bill then that means that the dollar is in the process of becoming a second rate currency.
We might reach that level in the future but the journey would not be easy, it's the adoption that is necessary that is very hard since we are not yet fully supported by the government. Big businesses can really help to fast track the adoption stage but in their mind they have to protect their business and since bitcoin is a risky currency it will be hard for them to invest a bigger part of their assets.It won't. Bitcoin has not yet received the necessary adoption it needs to replace Fiat currency. You can't buy groceries yet with bitcoins. Unless the world goes completely digital, this might not happen even if the price rises to $10,000 each. Even if it does rise that high, I think the governments will just create their own monetary system which shall also be digital to replace the fiat currency right now.
We may say that it won't today, but for the next days adoption will occur. But regardless the value of bitcoin, fiat will remain and will be used by the people because the government says so. And only if the government will implement total dump up for fiat money then fiat will be worthless at all, but I can't see that it will happen.
Nothing could be farther from truth than that
Fiat, say, the US dollar will be useless when and only when people are no longer accepting dollars as a payment for their goods and services. As long as they accept them, dollars are neither worthless nor useless. How much one bitcoin might cost is totally inconsequential to that. If most people stop selling their bitcoins (for whatever reason), the Bitcoin price can be insanely high, but this would have nothing to do with the value of the dollar in terms of goods
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?
Looks like No wins by a wide margin,it will be worthless to those who are in the first class city and bitcoin is the popular payment,but in remote areas where there are no internet connection it's impossible to use Bitcoin,we use fiat and in our daily activities whether we like it or not Fiat will never become worthless.
It won't. Bitcoin has not yet received the necessary adoption it needs to replace Fiat currency. You can't buy groceries yet with bitcoins. Unless the world goes completely digital, this might not happen even if the price rises to $10,000 each. Even if it does rise that high, I think the governments will just create their own monetary system which shall also be digital to replace the fiat currency right now.
Yeah there will not be change in value of fiat of worthless. It would be use I think. As of now bitcoins is not widely use all the people. Still bitcoin has its potential and its own value. This how the day changes for bitcoins. Fiat will be with its quality and value.
It won't. Bitcoin has not yet received the necessary adoption it needs to replace Fiat currency. You can't buy groceries yet with bitcoins. Unless the world goes completely digital, this might not happen even if the price rises to $10,000 each. Even if it does rise that high, I think the governments will just create their own monetary system which shall also be digital to replace the fiat currency right now.
We may say that it won't today, but for the next days adoption will occur. But regardless the value of bitcoin, fiat will remain and will be used by the people because the government says so. And only if the government will implement total dump up for fiat money then fiat will be worthless at all, but I can't see that it will happen.
It won't. Bitcoin has not yet received the necessary adoption it needs to replace Fiat currency. You can't buy groceries yet with bitcoins. Unless the world goes completely digital, this might not happen even if the price rises to $10,000 each. Even if it does rise that high, I think the governments will just create their own monetary system which shall also be digital to replace the fiat currency right now.
We may say that it won't today, but for the next days adoption will occur. But regardless the value of bitcoin, fiat will remain and will be used by the people because the government says so. And only if the government will implement total dump up for fiat money then fiat will be worthless at all, but I can't see that it will happen.
It won't. Bitcoin has not yet received the necessary adoption it needs to replace Fiat currency. You can't buy groceries yet with bitcoins. Unless the world goes completely digital, this might not happen even if the price rises to $10,000 each. Even if it does rise that high, I think the governments will just create their own monetary system which shall also be digital to replace the fiat currency right now.
We may say that it won't today, but for the next days adoption will occur. But regardless the value of bitcoin, fiat will remain and will be used by the people because the government says so. And only if the government will implement total dump up for fiat money then fiat will be worthless at all, but I can't see that it will happen.
It will depend on the reason for bitcoin to reach 10k if this was because bitcoin reached wide adoption around the world then I don't think fiat is going to be worthless however if this is because there is wild hyperinflation and you cannot buy anything with a dollar bill then that means that the dollar is in the process of becoming a second rate currency.
We might reach that level in the future but the journey would not be easy, it's the adoption that is necessary that is very hard since we are not yet fully supported by the government. Big businesses can really help to fast track the adoption stage but in their mind they have to protect their business and since bitcoin is a risky currency it will be hard for them to invest a bigger part of their assets.
It won't. Bitcoin has not yet received the necessary adoption it needs to replace Fiat currency. You can't buy groceries yet with bitcoins. Unless the world goes completely digital, this might not happen even if the price rises to $10,000 each. Even if it does rise that high, I think the governments will just create their own monetary system which shall also be digital to replace the fiat currency right now.
It will depend on the reason for bitcoin to reach 10k if this was because bitcoin reached wide adoption around the world then I don't think fiat is going to be worthless however if this is because there is wild hyperinflation and you cannot buy anything with a dollar bill then that means that the dollar is in the process of becoming a second rate currency.
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
Nah, this will not really happen that fiat become worthless. So if dollar is worth nothing that day then how can bitcoin have value if there's no US dollar. Bitcoin will become the main digital currency in the internet (because actually I don't like paypal). So don't assume that fiat will become worthless because not all people in the world can use bitcoin. But its really possible that it can reach the amount of 10,000 USD someday.Do you agree with this statement?
Everyone wants to increase the price of Bitcoin. But no one wants to were the financial crisis and high inflation Fiat
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
Nah, this will not really happen that fiat become worthless. So if dollar is worth nothing that day then how can bitcoin have value if there's no US dollar. Bitcoin will become the main digital currency in the internet (because actually I don't like paypal). So don't assume that fiat will become worthless because not all people in the world can use bitcoin. But its really possible that it can reach the amount of 10,000 USD someday.Do you agree with this statement?
Everyone wants to increase the price of Bitcoin. But no one wants to were the financial crisis and high inflation Fiat
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
Nah, this will not really happen that fiat become worthless. So if dollar is worth nothing that day then how can bitcoin have value if there's no US dollar. Bitcoin will become the main digital currency in the internet (because actually I don't like paypal). So don't assume that fiat will become worthless because not all people in the world can use bitcoin. But its really possible that it can reach the amount of 10,000 USD someday.Do you agree with this statement?
Obviously, Bitcoin price will be denominated in something else other than dollars, for example, Euro or the Chinese Yuan. Many exchanges allow trading Bitcoin for a basket of currencies, not just USD. BTC-e as one such exchange is trading bitcoins for euro, dollars and rubles. In this manner, you can take any currency which you find most profitable, and it wouldn't be dollars all the time.
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
Nah, this will not really happen that fiat become worthless. So if dollar is worth nothing that day then how can bitcoin have value if there's no US dollar. Bitcoin will become the main digital currency in the internet (because actually I don't like paypal). So don't assume that fiat will become worthless because not all people in the world can use bitcoin. But its really possible that it can reach the amount of 10,000 USD someday.Do you agree with this statement?
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