If bitcoin price is $10.000, will fiat be worthless? - page 45.

Aamir1

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Quote from: Liad.Services on November 20, 2016, 03:01:24 PM

Ofcourse not.
Considering that there are 21M bitcoins to be ever exist(I didn't count all of the lost bitcoins that may be out there which is a number that is higher then 2-3 M for sure), then the total value of all the bitcoins would be 210B$, which is less then 0.01% of the total fiat that exists.
If you want to make fiat worthless, we will need the bitcoin price to be something around 50M$ which will also make 1mbtc to be worth 50K $ which is simply crazy.

Exactly, it is something really crazy at the first place, because the very first thing to be considered is that bitcoins are limited, there are only 21M bitcoins including the lost ones, so i don't feel even if the price of one bitcoin reaches to the price mentioned it would make fiat worthless, because only the price is not everything but the economy should be seen.

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Quote from: Positid on November 22, 2016, 07:44:17 AM

Quote from: delliaerd on November 22, 2016, 07:02:38 AM

Quote from: X-ray on November 22, 2016, 06:22:36 AM

Quote from: mirakal on November 22, 2016, 06:18:20 AM

Quote from: Fidemoga on November 22, 2016, 03:16:11 AM

For the bitcoin, you can just invest a certain amount of money every months. The price will rise in the long term.

That's sounds doable for an average investor, the good thing with bitcoin is that we do not need to raise a big amount of money because we can be eligible for investment, a little amount is already enough and we can do that on a installment basis which I believe would be easier for everyone.

bitcoin is rarely rising in long term but as far as i know bitcoin price are more often rising in just short term. the latest price rising also just happen in few days or weeks. these sign mean that bitcoin is definitely not for long term investment. even investing some money every months will be helping you to have some profit out of it

A few months ago when the first time I knew about bitcoin, the price was $400 but the price is $700 now. If bitcoin price reach $10.000 people will leave fiat, people are get saturated with fiat now. So bitcoin is have a big chance to replace it. But if bitcoin can not, I think people will still leave fiat/paper money becouse its obviously worthless unlike gold. My opinion is people will back to use gold or make revolution to use bitcoin.

Fiat has been proven to be stable for a longer period of time since we are still using it, maybe I will believe that some investors will transfer their money in bitcoin but not to do away with fiat, they still need fiat as more than 99% in the world population are using FIAT.

Not only on 99% but absolutely 100% all people do use fiat ever since the beggining of time and we do survive because of it and same as yours i do believe too that bitcoin cant really replace fiat even how it would be successful in the future.It may used for most people on the future but still fiat would remain. Lets think of it that how bitcoins would get value if fiat would be worthless.

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Quote from: delliaerd on November 22, 2016, 07:02:38 AM

Quote from: X-ray on November 22, 2016, 06:22:36 AM

Quote from: mirakal on November 22, 2016, 06:18:20 AM

Quote from: Fidemoga on November 22, 2016, 03:16:11 AM

For the bitcoin, you can just invest a certain amount of money every months. The price will rise in the long term.

That's sounds doable for an average investor, the good thing with bitcoin is that we do not need to raise a big amount of money because we can be eligible for investment, a little amount is already enough and we can do that on a installment basis which I believe would be easier for everyone.

bitcoin is rarely rising in long term but as far as i know bitcoin price are more often rising in just short term. the latest price rising also just happen in few days or weeks. these sign mean that bitcoin is definitely not for long term investment. even investing some money every months will be helping you to have some profit out of it

A few months ago when the first time I knew about bitcoin, the price was $400 but the price is $700 now. If bitcoin price reach $10.000 people will leave fiat, people are get saturated with fiat now. So bitcoin is have a big chance to replace it. But if bitcoin can not, I think people will still leave fiat/paper money becouse its obviously worthless unlike gold. My opinion is people will back to use gold or make revolution to use bitcoin.

Fiat has been proven to be stable for a longer period of time since we are still using it, maybe I will believe that some investors will transfer their money in bitcoin but not to do away with fiat, they still need fiat as more than 99% in the world population are using FIAT.

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Quote from: X-ray on November 22, 2016, 06:22:36 AM

Quote from: mirakal on November 22, 2016, 06:18:20 AM

Quote from: Fidemoga on November 22, 2016, 03:16:11 AM

For the bitcoin, you can just invest a certain amount of money every months. The price will rise in the long term.

That's sounds doable for an average investor, the good thing with bitcoin is that we do not need to raise a big amount of money because we can be eligible for investment, a little amount is already enough and we can do that on a installment basis which I believe would be easier for everyone.

bitcoin is rarely rising in long term but as far as i know bitcoin price are more often rising in just short term. the latest price rising also just happen in few days or weeks. these sign mean that bitcoin is definitely not for long term investment. even investing some money every months will be helping you to have some profit out of it

A few months ago when the first time I knew about bitcoin, the price was $400 but the price is $700 now. If bitcoin price reach $10.000 people will leave fiat, people are get saturated with fiat now. So bitcoin is have a big chance to replace it. But if bitcoin can not, I think people will still leave fiat/paper money becouse its obviously worthless unlike gold. My opinion is people will back to use gold or make revolution to use bitcoin.

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Quote from: mirakal on November 22, 2016, 06:18:20 AM

Quote from: Fidemoga on November 22, 2016, 03:16:11 AM

For the bitcoin, you can just invest a certain amount of money every months. The price will rise in the long term.

That's sounds doable for an average investor, the good thing with bitcoin is that we do not need to raise a big amount of money because we can be eligible for investment, a little amount is already enough and we can do that on a installment basis which I believe would be easier for everyone.

bitcoin is rarely rising in long term but as far as i know bitcoin price are more often rising in just short term. the latest price rising also just happen in few days or weeks. these sign mean that bitcoin is definitely not for long term investment. even investing some money every months will be helping you to have some profit out of it

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Quote from: Fidemoga on November 22, 2016, 03:16:11 AM

For the bitcoin, you can just invest a certain amount of money every months. The price will rise in the long term.

That's sounds doable for an average investor, the good thing with bitcoin is that we do not need to raise a big amount of money because we can be eligible for investment, a little amount is already enough and we can do that on a installment basis which I believe would be easier for everyone.

Fidemoga

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Quote from: goldcoinminer on November 21, 2016, 07:17:32 AM

Quote from: Zadicar on November 21, 2016, 07:05:32 AM

Quote from: Liad.Services on November 21, 2016, 01:49:29 AM

Quote from: groll on November 20, 2016, 11:09:25 PM

Quote from: Mastsetad on November 20, 2016, 12:15:44 PM

Quote from: LegendaryMiner on November 20, 2016, 12:04:13 PM

I don't think that makes much sense. It is possible that Bitcoin reaches this value someday, but it will not make people stop using fiat. To gain more users, Bitcoin must first reach more people willing to sell goods and services for Bitcoins. In this way, there will be greater liquidity in the market, and over time Bitcoin will gain more stability. This will give more confidence for people to use Bitcoin as a currency.

People would surely use bitcoin infact they are already using it as a currency, but that would probably not make fiat worthless in any means, no matter where bitcoin reaches but people will still use fiat as long as there is governmental system in the world and that system does not seem to be vanishing at all.

I agree with you. Bitcoin is becoming a trend to many but not all people are using it. So we cannot tell that fiat will be worthless even if bitcoin's prices rises. We each have our own government and they control the trade and economic system of our countries. It needs to make "all people" use bitcoin to make fiat worthless. Also bitcoin's value depends in fiat. So It cannot make fiat worthless.

If bitcoin reaches 10K then it means that less then 0.01%, the worlds economy is much larger then 10K$ per bitcoin,and if everybody will use bitcoin on a daily basis,the price will reach to millions and even more then that.
Also take in your mind that there are plenty of lost bitcoins that will never be recovered.

Those lost bitcoins cant really be recovered and they will just remain floating on bitcoin world. I dont think that bitcoins price would able to reach millions of dollars which is really impossible to achieve even on the future. Maybe it would possible on 3-5k dollars but not on millions even on $10k. Well who knows since no one could really able to predict the future.

No one because we ain't God, we are just betting on the future of bitcoin to be progressive so at the same time we can ride with the success, I do not mind of the price as long as I am in profit and that means a lot for me because I am consistently investing.

For the bitcoin, you can just invest a certain amount of money every months. The price will rise in the long term.

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Quote from: Zadicar on November 21, 2016, 07:05:32 AM

Quote from: Liad.Services on November 21, 2016, 01:49:29 AM

Quote from: groll on November 20, 2016, 11:09:25 PM

Quote from: Mastsetad on November 20, 2016, 12:15:44 PM

Quote from: LegendaryMiner on November 20, 2016, 12:04:13 PM

I don't think that makes much sense. It is possible that Bitcoin reaches this value someday, but it will not make people stop using fiat. To gain more users, Bitcoin must first reach more people willing to sell goods and services for Bitcoins. In this way, there will be greater liquidity in the market, and over time Bitcoin will gain more stability. This will give more confidence for people to use Bitcoin as a currency.

People would surely use bitcoin infact they are already using it as a currency, but that would probably not make fiat worthless in any means, no matter where bitcoin reaches but people will still use fiat as long as there is governmental system in the world and that system does not seem to be vanishing at all.

I agree with you. Bitcoin is becoming a trend to many but not all people are using it. So we cannot tell that fiat will be worthless even if bitcoin's prices rises. We each have our own government and they control the trade and economic system of our countries. It needs to make "all people" use bitcoin to make fiat worthless. Also bitcoin's value depends in fiat. So It cannot make fiat worthless.

If bitcoin reaches 10K then it means that less then 0.01%, the worlds economy is much larger then 10K$ per bitcoin,and if everybody will use bitcoin on a daily basis,the price will reach to millions and even more then that.
Also take in your mind that there are plenty of lost bitcoins that will never be recovered.

Those lost bitcoins cant really be recovered and they will just remain floating on bitcoin world. I dont think that bitcoins price would able to reach millions of dollars which is really impossible to achieve even on the future. Maybe it would possible on 3-5k dollars but not on millions even on $10k. Well who knows since no one could really able to predict the future.

No one because we ain't God, we are just betting on the future of bitcoin to be progressive so at the same time we can ride with the success, I do not mind of the price as long as I am in profit and that means a lot for me because I am consistently investing.

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Quote from: Zadicar on November 21, 2016, 07:05:32 AM

Those lost bitcoins cant really be recovered and they will just remain floating on bitcoin world. I dont think that bitcoins price would able to reach millions of dollars which is really impossible to achieve even on the future. Maybe it would possible on 3-5k dollars but not on millions even on $10k. Well who knows since no one could really able to predict the future.

That is eally an ambitious prediction drom a Chinese miner/trader. Though anything can happen but to reach a million is not achieveble in our life time in m opinion. Though its only a speculation but some will definitely buy more bitcoin and hoard LOL

Zadicar

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Quote from: Liad.Services on November 21, 2016, 01:49:29 AM

Quote from: groll on November 20, 2016, 11:09:25 PM

Quote from: Mastsetad on November 20, 2016, 12:15:44 PM

Quote from: LegendaryMiner on November 20, 2016, 12:04:13 PM

I don't think that makes much sense. It is possible that Bitcoin reaches this value someday, but it will not make people stop using fiat. To gain more users, Bitcoin must first reach more people willing to sell goods and services for Bitcoins. In this way, there will be greater liquidity in the market, and over time Bitcoin will gain more stability. This will give more confidence for people to use Bitcoin as a currency.

People would surely use bitcoin infact they are already using it as a currency, but that would probably not make fiat worthless in any means, no matter where bitcoin reaches but people will still use fiat as long as there is governmental system in the world and that system does not seem to be vanishing at all.

I agree with you. Bitcoin is becoming a trend to many but not all people are using it. So we cannot tell that fiat will be worthless even if bitcoin's prices rises. We each have our own government and they control the trade and economic system of our countries. It needs to make "all people" use bitcoin to make fiat worthless. Also bitcoin's value depends in fiat. So It cannot make fiat worthless.

If bitcoin reaches 10K then it means that less then 0.01%, the worlds economy is much larger then 10K$ per bitcoin,and if everybody will use bitcoin on a daily basis,the price will reach to millions and even more then that.
Also take in your mind that there are plenty of lost bitcoins that will never be recovered.

Those lost bitcoins cant really be recovered and they will just remain floating on bitcoin world. I dont think that bitcoins price would able to reach millions of dollars which is really impossible to achieve even on the future. Maybe it would possible on 3-5k dollars but not on millions even on $10k. Well who knows since no one could really able to predict the future.

Liad.Services

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Quote from: groll on November 20, 2016, 11:09:25 PM

Quote from: Mastsetad on November 20, 2016, 12:15:44 PM

Quote from: LegendaryMiner on November 20, 2016, 12:04:13 PM

I don't think that makes much sense. It is possible that Bitcoin reaches this value someday, but it will not make people stop using fiat. To gain more users, Bitcoin must first reach more people willing to sell goods and services for Bitcoins. In this way, there will be greater liquidity in the market, and over time Bitcoin will gain more stability. This will give more confidence for people to use Bitcoin as a currency.

People would surely use bitcoin infact they are already using it as a currency, but that would probably not make fiat worthless in any means, no matter where bitcoin reaches but people will still use fiat as long as there is governmental system in the world and that system does not seem to be vanishing at all.

I agree with you. Bitcoin is becoming a trend to many but not all people are using it. So we cannot tell that fiat will be worthless even if bitcoin's prices rises. We each have our own government and they control the trade and economic system of our countries. It needs to make "all people" use bitcoin to make fiat worthless. Also bitcoin's value depends in fiat. So It cannot make fiat worthless.

If bitcoin reaches 10K then it means that less then 0.01%, the worlds economy is much larger then 10K$ per bitcoin,and if everybody will use bitcoin on a daily basis,the price will reach to millions and even more then that.
Also take in your mind that there are plenty of lost bitcoins that will never be recovered.

freedomgo

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Quote from: groll on November 20, 2016, 11:09:25 PM

Quote from: Mastsetad on November 20, 2016, 12:15:44 PM

Quote from: LegendaryMiner on November 20, 2016, 12:04:13 PM

I don't think that makes much sense. It is possible that Bitcoin reaches this value someday, but it will not make people stop using fiat. To gain more users, Bitcoin must first reach more people willing to sell goods and services for Bitcoins. In this way, there will be greater liquidity in the market, and over time Bitcoin will gain more stability. This will give more confidence for people to use Bitcoin as a currency.

People would surely use bitcoin infact they are already using it as a currency, but that would probably not make fiat worthless in any means, no matter where bitcoin reaches but people will still use fiat as long as there is governmental system in the world and that system does not seem to be vanishing at all.

I agree with you. Bitcoin is becoming a trend to many but not all people are using it. So we cannot tell that fiat will be worthless even if bitcoin's prices rises. We each have our own government and they control the trade and economic system of our countries. It needs to make "all people" use bitcoin to make fiat worthless. Also bitcoin's value depends in fiat. So It cannot make fiat worthless.

The fact that we are increasing in terms of number now, we have a great future in bitcoin if we are just willing to take risk and hold now. I do not care if people are thinking to make fiat worthless when the price reach that level but I am here to take my profits.

Dudeperfect

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Quote from: LegendaryMiner on November 20, 2016, 12:04:13 PM

I don't think that makes much sense. It is possible that Bitcoin reaches this value someday, but it will not make people stop using fiat. To gain more users, Bitcoin must first reach more people willing to sell goods and services for Bitcoins. In this way, there will be greater liquidity in the market, and over time Bitcoin will gain more stability. This will give more confidence for people to use Bitcoin as a currency.

Exactly, some people will keep using fiat till the end of the world. Right now bitcoin is in beta stage and still exploring itself and I believe that we are in early stage because bitcoin is going to lasts long. Bitcoin will gain space in day to day transactions, both local as well as international but still it won’t ruin fiat (of any country). In most successful case bitcoin might reach the level of fiat but it won’t destroy fiat because it’s the way we are using so far.

groll

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Quote from: Mastsetad on November 20, 2016, 12:15:44 PM

Quote from: LegendaryMiner on November 20, 2016, 12:04:13 PM

I don't think that makes much sense. It is possible that Bitcoin reaches this value someday, but it will not make people stop using fiat. To gain more users, Bitcoin must first reach more people willing to sell goods and services for Bitcoins. In this way, there will be greater liquidity in the market, and over time Bitcoin will gain more stability. This will give more confidence for people to use Bitcoin as a currency.

People would surely use bitcoin infact they are already using it as a currency, but that would probably not make fiat worthless in any means, no matter where bitcoin reaches but people will still use fiat as long as there is governmental system in the world and that system does not seem to be vanishing at all.

I agree with you. Bitcoin is becoming a trend to many but not all people are using it. So we cannot tell that fiat will be worthless even if bitcoin's prices rises. We each have our own government and they control the trade and economic system of our countries. It needs to make "all people" use bitcoin to make fiat worthless. Also bitcoin's value depends in fiat. So It cannot make fiat worthless.

Liad.Services

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Ofcourse not.
Considering that there are 21M bitcoins to be ever exist(I didn't count all of the lost bitcoins that may be out there which is a number that is higher then 2-3 M for sure), then the total value of all the bitcoins would be 210B$, which is less then 0.01% of the total fiat that exists.
If you want to make fiat worthless, we will need the bitcoin price to be something around 50M$ which will also make 1mbtc to be worth 50K $ which is simply crazy.

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Quote from: arseaboy on November 20, 2016, 10:32:09 AM

I really don't agree that fiat will replace by bitcoin.. bitcoins can be consider as an alternative currency and this currency is also dependent in fiat system. I think both fiat and bitcoins will live forever.

What makes you think that Bitcoin somehow depends on the fiat system?

It depends on fiat inasmuch as its price is quoted in fiat terms (most often in dollars), but that's basically all there's to it. If all fiats were gone one day, there would be no more Bitcoin trading obviously, but this wouldn't mark the end of Bitcoin. In fact, it would actually celebrate its rebirth as a full-fledged means of exchange and payment, since from that time and on goods and services would be valued in bitcoins directly, thereby wholly and unreservedly fulfilling the purpose with which it has been conceived. That is, to be a currency in its own right and facilitate the exchange of goods and consumption of services directly, without any other currency in between

Xester

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Quote from: Razick on December 13, 2015, 11:18:04 AM

That's an absolutely foolish thing to say. Does fiat still have value relative to real goods and services? Well then, it's not worthless.

Yes!definitely a big yes!fiat really needs by all people. Paper money really means a lot to us. If bitcoins reach 10, 000 dollar, mass adoptation is arise but it will not remove or make fiat worthless. Many services and goods still needs to buy using paper money or fiat. Beside, upon cashing out our earnings in bitcoins, we change it to paper money right? So how come it will become worthless?

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Quote from: LegendaryMiner on November 20, 2016, 12:04:13 PM

I don't think that makes much sense. It is possible that Bitcoin reaches this value someday, but it will not make people stop using fiat. To gain more users, Bitcoin must first reach more people willing to sell goods and services for Bitcoins. In this way, there will be greater liquidity in the market, and over time Bitcoin will gain more stability. This will give more confidence for people to use Bitcoin as a currency.

People would surely use bitcoin infact they are already using it as a currency, but that would probably not make fiat worthless in any means, no matter where bitcoin reaches but people will still use fiat as long as there is governmental system in the world and that system does not seem to be vanishing at all.

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I don't think that makes much sense. It is possible that Bitcoin reaches this value someday, but it will not make people stop using fiat. To gain more users, Bitcoin must first reach more people willing to sell goods and services for Bitcoins. In this way, there will be greater liquidity in the market, and over time Bitcoin will gain more stability. This will give more confidence for people to use Bitcoin as a currency.

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Quote from: madwica on November 20, 2016, 08:49:19 AM

Quote from: goldcoinminer on November 20, 2016, 07:42:18 AM

Quote from: Aamir1 on November 20, 2016, 06:14:27 AM

Quote from: RajaJudi on November 18, 2016, 02:01:44 PM

Of course. The Fiat system will crash and Bitcoin definitely becomes a new world currency. I do believe in this theory. Just look around you, the number of people using bitcoin is increasing significantly although the Bitcoin price is only 750$.

No matter how big the price of bitcoin grows, it would always be considered an alternative currency, what do you think? That governments will give the economic control in the hands of the people of their country and they will just sit and count their own bitcoins? Stop dreaming man!

It will because it has no independence, bitcoin cannot exist without fiat because the value is solely base on fiat. Everyone must understand that and will not push harder that bitcoin will replace fiat, it will not happen not ever and in the future.

Yes that is true fiat is really needed by bitcoin and bitcoin can not stand alone with fiat there will be no basis of value if fiat will not present. Fiat is much usable by many people.

I really don't agree that fiat will replace by bitcoin.. bitcoins can be consider as an alternative currency and this currency is also dependent in fiat system. I think both fiat and bitcoins will live forever.

Topic: If bitcoin price is $10.000, will fiat be worthless? - page 45. (Read 145055 times)