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Topic: If bitcoin price is $10.000, will fiat be worthless? - page 46. (Read 145035 times)

hero member
Activity: 714
Merit: 531
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.
hero member
Activity: 952
Merit: 500
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.
hero member
Activity: 756
Merit: 500
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!
legendary
Activity: 3486
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You can order everything via the internet and use bitcoin for that, its possible in many places

You can just as easily use a Bitcoin payment card to buy things offline, in the nearby shopping mall behind the corner

I got bad news for you, FIAT is already worthless outside its artifical use for government taxes. What happens in some cases is the government pays out the countries money to add value to its currency, every time anyone uses this money it costs every citizen and is a tax on society but thats true of government in general.   The country where this is true is USA and many others where inflation has increased so much that the production cost to their notes or coins has exceeded any worth attributed.  I read the reason USA doesnt scrap or revise their money is the cotton cost is given to its own farmers, so its a form of subsidy support to voters

I'm inclined to disagree with such point of view. Conceptually, any money is worth exactly the quantity of goods that you can buy with it and the volume of services that can be rendered to you for it. Whether it is due to taxes or thanks to God's will is ultimately irrelevant. You can't possible escape from this. If you meant to say that fiat is worthless as such because it doesn't have any intrinsic value on its own (besides transactional utility, of course), then I have a bad news for you too...

Namely, that Bitcoin is as worthless as any other (fiat) money out there
STT
legendary
Activity: 4004
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You can order everything via the internet and use bitcoin for that, its possible in many places
I don't think fiat will ever be worthless. They might come a time when bitcoin will finally be accepted by most people and the price would sky rocket this high but the fiat money will always stay the same and have the same value. I'm pretty sure the government will not allow their fiat currency to just become worthless.

I got bad news for you, FIAT is already worthless outside its artifical use for government taxes.    What happens in some cases is the government pays out the countries money to add value to its currency, every time anyone uses this money it costs every citizen and is a tax on society but thats true of government in general.   The country where this is true is USA and many others where inflation has increased so much that the production cost to their notes or coins has exceeded any worth attributed.  I read the reason USA doesnt scrap or revise their money is the cotton cost is given to its own farmers, so its a form of subsidy support to voters.

FIAT is useful and has worth where its high denomination or non physical, safe, secure and easy to use quickly.   Dollar is also a digital system right now, its just security is centralised and reliant on regulation not integral like bitcoin so invariably the dollar cost of transacting should be much higher then bitcoin.  AFAIK thats the case and part of what drives bitcoin value is its cost advantage
legendary
Activity: 3150
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Nope. Fiat will never be worthless if bitcoins price will reach $10,000 cause it has nothing to do with bitcoin.

Fiat plays a great role in our industry and most people here including me often converts their bitcoin to fiat because fiat is our main money, We will have a wide variety of choices when spending them.

But I think there will come a day when paper money gets overtaken by bitcoin. In short, We will use crytocurrencies as our main money.
How would a person live without fiat? does anyone know how to use their computer and internet necessary to transact using bitcoin.

How about the poor living in poverty?
sr. member
Activity: 406
Merit: 250
Wolf
Nope. Fiat will never be worthless if bitcoins price will reach $10,000 cause it has nothing to do with bitcoin.

Fiat plays a great role in our industry and most people here including me often converts their bitcoin to fiat because fiat is our main money, We will have a wide variety of choices when spending them.

But I think there will come a day when paper money gets overtaken by bitcoin. In short, We will use crytocurrencies as our main money.
hero member
Activity: 882
Merit: 500
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
No , i am not satisfied with your statement , Because with Bitcoin we can't complete our needs only through bitcoin ( in present time ) so always the main factor of fiat will come in our path .
So fiat can never be worthless .
hero member
Activity: 966
Merit: 515
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No matter how high the bitcoin price will reach, fiat is not going to become worthless due to bitcoin price.
I can not imagine any realistic circumstances under which a crypto currency will become the leading payment in a country.


yeah , everyone here and other bitcoiners who are not st this forum are only for earning of fiat ( indirectly ) .
Every people in the bitcoin is earning bitcoin and then convert into fiat .
So we can say fiat can never be worthless .
hero member
Activity: 910
Merit: 501
No matter how high the bitcoin price will reach, fiat is not going to become worthless due to bitcoin price.
I can not imagine any realistic circumstances under which a crypto currency will become the leading payment in a country.

hero member
Activity: 756
Merit: 501
No fiat will always be used to buy and sell bitcoins, and those wont happen, if bitcoin reach 10000 dollars the most of us will turn into milionaries or atleast be able to make 15x more their investment. If bitcoin reach such i would sell all my bitcoins and invest those money into my family, or maybe buy a new property.
sr. member
Activity: 378
Merit: 250
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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$.
yeah it would happen where the bitcoin price will be very high when something terrible happens in fiat, but for that to happen I think is impossible, fiat very strong and supported by all governments around the world
Seriously dude? What I know is that we are still relying in fiat, otherwise the title of the thread would not have the value of bitcoin. One question, what is the value of bitcoins now, is it in fiat or not?

He is just overwhelmed with the price increase of bitcoin. What would be the price of bitcoin, fiat will remain useful and will be used by all the people around the world. And besides the adoption of bitcoin is still not that guaranteed for there are countries that banning bitcoin because they know that it is going to be a threat for their government.
Maybe, because he thinks bitcoin is God, LOL! The price is not always increasing and that's for sure and even if the price will grow to that amount considering the current price, how can anyone ensure that he will not sell his bitcoins when the price turns to $1,000.
hero member
Activity: 3024
Merit: 745
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Of course. The Fiat system will crash and Bitcoin definitely becomes a new world currency. I do believe in this theory. Just look around you, the number of people using bitcoin is increasing significantly although the Bitcoin price is only 750$.
yeah it would happen where the bitcoin price will be very high when something terrible happens in fiat, but for that to happen I think is impossible, fiat very strong and supported by all governments around the world
Seriously dude? What I know is that we are still relying in fiat, otherwise the title of the thread would not have the value of bitcoin. One question, what is the value of bitcoins now, is it in fiat or not?

He is just overwhelmed with the price increase of bitcoin. What would be the price of bitcoin, fiat will remain useful and will be used by all the people around the world. And besides the adoption of bitcoin is still not that guaranteed for there are countries that banning bitcoin because they know that it is going to be a threat for their government.
legendary
Activity: 3108
Merit: 1290
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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$.
yeah it would happen where the bitcoin price will be very high when something terrible happens in fiat, but for that to happen I think is impossible, fiat very strong and supported by all governments around the world
Seriously dude? What I know is that we are still relying in fiat, otherwise the title of the thread would not have the value of bitcoin. One question, what is the value of bitcoins now, is it in fiat or not?
sr. member
Activity: 420
Merit: 250
Of course. The Fiat system will crash and Bitcoin definitely becomes a new world currency. I do believe in this theory. Just look around you, the number of people using bitcoin is increasing significantly although the Bitcoin price is only 750$.
yeah it would happen where the bitcoin price will be very high when something terrible happens in fiat, but for that to happen I think is impossible, fiat very strong and supported by all governments around the world
Pab
legendary
Activity: 1862
Merit: 1012
If fiat will be worthless than btc price will be 1 mln$,but it will be worthless
newbie
Activity: 44
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i think bitcoin fact not enough  it should be with support of other strong cyptos
sr. member
Activity: 403
Merit: 250
Less is more
Of course. The Fiat system will crash and Bitcoin definitely becomes a new world currency. I do believe in this theory. Just look around you, the number of people using bitcoin is increasing significantly although the Bitcoin price is only 750$.
hero member
Activity: 1036
Merit: 514
I don't think fiat will ever be worthless. They might come a time when bitcoin will finally be accepted by most people and the price would sky rocket this high but the fiat money will always stay the same and have the same value. I'm pretty sure the government will not allow their fiat currency to just become worthless.

True, but I think in the future the human race will no longer use paper money. So the governments must develop a digital currency that would replace money. It may or may not be Bitcoin. But the fact of the matter is, digital currency or cryptocurrency will be the future of money.

Definitely. Fiat currency is overtaken by decentralized economies like bitcoin itself and other altcoins. Even if it is not decentralized the world is fast digitizing and fiat paper currency will no longer be of any use.
Fiat money will always exist for sure even bitcoin price reach $10.000 because fiat is a characteristic of the country.
Although government release digital currency will based on their fiat and bitcoin be valued by compare with it (exchange rate)
It would be our advantage to spend bitcoin that has higher value than any other currency.
legendary
Activity: 1638
Merit: 1046
The price of Gold and diamonds are growing higher, but does that make fiat worthless? The simple answer is no, Bitcoin will always be another form of investment for people besides their countries fiat currency or national crypto currency that most countries are planning to implement. Few people consider Bitcoin as a financial asset or a commodity to invest for a long term, for such people it'd still not make fiat worthless cause they'd require fiat to buy Bitcoins initially to even own it in the first place. For miners Bitcoin would be worthy more than fiat cause they can mine to sell those for fiat and not earn fiat at all, but the same doesn't hold good for people purchasing Bitcoin using fiat. 
Yeah bitcoin is just an alternative investment just like in other investment like gold or diamonds. fiat is from banks made controlled by government and i think they will prefer to use fiat than bitcoin because bitcoin works only in online and you don't have internet you can not transfer bitcoin.. So fiat should be worth to use..
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