Topic: If bitcoin price is $10.000, will fiat be worthless? - page 47. (Read 145035 times)
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.
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 think the price of bitcoin cannot reach such an high level, even people will not let it go so high, as at that point when bitcoin will reach to 10000 at least i may be not be able to trade it, and many other middle class people may not be in position to trade bitcoin at that level, therefore fiat cannot be worthless. Bitcoin is infinitely divisible, though some may claim that the real infinite divisibility is not reachable for technical reasons. But these people are largely irrelevant themselves. Given that, there shouldn't be any issues with trading satoshis, rather than trading whole bitcoins or tenths and hundredths of one bitcoin as of now. Let's assume, for example, that one bitcoin is worth 10k dollars one day (as per thread title). That would mean that one dollar will be worth 100M / 10k = 10000 satoshis...
As to me, 10,000 satoshis still leave a lot of room for future price growth in dollar terms
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 think the price of bitcoin cannot reach such an high level, even people will not let it go so high, as at that point when bitcoin will reach to 10000 at least i may be not be able to trade it, and many other middle class people may not be in position to trade bitcoin at that level, therefore fiat cannot be worthless. $10,000 x 21 million = 210 billion USD around and i don't think that is anything near to total economy of even one country so i don't think having $10,000 per bitcoin can make fiat worthless.
This figure ($210B) is as meaningless itself as $10,000 per bitcoin. It doesn't tell us anything about the adoption level we should reach to get there, how many transactions the Bitcoin network should process daily for that price to happen, and whether it will be able to process so many transactions at all, and about a lot of other factors that could make that price and market cap possible...
Without more detailed analysis, these figures alone can only raise curiosity, but nothing beyond it
$10,000 x 21 million = 210 billion USD around and i don't think that is anything near to total economy of even one country so i don't think having $10,000 per bitcoin can make fiat worthless.
No it won't be worthless because bitcoin is just an alternative payment system no matter how its price rises. It won't take over paper money unless we enter an age where cryptocurrencies are the main money we used.
I also don't think this will make fiat worthless. There are factors that may influence some people to use Bitcoin more often, but an increase in the price of Bitcoin is not the deciding factor. Instead, it's necessary for people to find more merchants accepting the currency, so they will have a greater incentive to use Bitcoin.
No it won't be worthless because bitcoin is just an alternative payment system no matter how its price rises. It won't take over paper money unless we enter an age where cryptocurrencies are the main money we used.
I also don't think this will make fiat worthless. There are factors that may influence some people to use Bitcoin more often, but an increase in the price of Bitcoin is not the deciding factor. Instead, it's necessary for people to find more merchants accepting the currency, so they will have a greater incentive to use Bitcoin.
If Bitcoin reaches this value, the currency will catch the attention of more people, institutions and investors, but I don't think that this will make fiat become worthless. The fact that one currency appreciates does not necessarily mean that another will lose value. There are many people in the world who are happy using fiat currency, many of these people may prefer not to migrate to a new payment system.
I think they will regret if they did not know about bitcoin or they heard it before but they are treating bitcoin as scam so in the end regret.Also if we touch bitcoin in that amount all members of this forum who are holding a good amount of bitcoin getting benefits of price increase..
Fiat will still worth because its money and every each country has main currency.. and we can not exchange bitcoin if there is no fiat..
If Bitcoin reaches this value, the currency will catch the attention of more people, institutions and investors, but I don't think that this will make fiat become worthless. The fact that one currency appreciates does not necessarily mean that another will lose value. There are many people in the world who are happy using fiat currency, many of these people may prefer not to migrate to a new payment system.
No it won't be worthless because bitcoin is just an alternative payment system no matter how its price rises. It won't take over paper money unless we enter an age where cryptocurrencies are the main money we used.
Exactly, until that time when bitcoin will be in mainstream and will be used as a major currency or will be used as a mode of payment in physical world like dollar euro or any other currency then it may make other currencies quite worthless, but till it is just online and a digital currency yet, no matter where it reaches, it wont be able to do anything with fiat.
No it won't be worthless because bitcoin is just an alternative payment system no matter how its price rises. It won't take over paper money unless we enter an age where cryptocurrencies are the main money we used.
Indeed mate. Fiat cannot be replaced by bitcoins for now since most people are using Fiat.. bitcoins is an alternative source for investment so it's value is still depends on USD. Price of bitcoins may go down or go up but it will not replace Fiat.
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.
No, of course not!all of us are still dependent of fiat. Using bitcoins is just an option, an another channel or alternative payment options, we must admit that using bitcoins was still have its limitation. Not all merchants or store will accept bitcoins unless u already converted it to a paper money. If bitcoins reach 10, 000 dollars per 1 btc i guess mny people or even the government will recognized and use it also as alternative payment.
No it won't be worthless because bitcoin is just an alternative payment system no matter how its price rises. It won't take over paper money unless we enter an age where cryptocurrencies are the main money we used.
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 currency will never be replaced or overtaken by bitcoin or other digital assets, because it has crossed lot years and got the universal acceptance. Also that's wrong, paper money will be used till economic system exist because digital currencies can be used only by knowledgeable people but paper money can be used even by an uneducated.
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.
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.
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.
No it will not be worthless. The main reason because of this, is because the governments are controlling what they accept as currency in that country. You're still going to need to exchange if you're going grocery shopping or whatever.
What if bitcoin becomes part of daily life? And bitcoin gets integrated into a lot of systems. Then the days of paper currency will be over. Everything will be digital.
No it will not be worthless. The main reason because of this, is because the governments are controlling what they accept as currency in that country. You're still going to need to exchange if you're going grocery shopping or whatever.
Fiat is already and will continue to be worthless. There is no doubt about that. All fiat currency is just a piece of paper that has some fancy shit stamped on top of it. You shouldn't care about fiat money when you have a better alternative like BTC.
What about those countries that do not accept bitcoin? You cannot call fiat worthless there - its your daily bread and your lifeforce. Without it you cannot survive
Fiat will always be there since the adoption of bitcoin in every place is difficult and almost impossible. Many people are uneducated and can never really trust the bitcoin network. They will forever continue to use fiat.
Jump to: