Topic: If bitcoin price is $10.000, will fiat be worthless? - page 5. (Read 145059 times)
May be a useless fiat, which is why it is easier to bitcoin transactions than fiat, but without strong support from all parties it will be difficult for bitcoin to replace fiat.
The phrase is too vague. What do you mean by fiat will be worthless if Bitcoin reaches $10,000? If you mean that it will replace fiat, I don't think that would happen that easy. Government wouldn't allow that because they do not want something that they cannot control. And most of the people are still not into the stage of adoption of Bitcoin.
Bitcoin or fiats have their own missions and goals , so i think they won't destroy each other.
Fiat money will not affect me if bitcoins have increased by $ 10,000. Because it was first necessary for the people to receive it. use with simple transacation. And there we see the coverage of bitcoins in our fiat moneys
Bitcoin and fiat are different things, I'm not sure any bitcoin prices can make a big impact on fiat, this is because the state protects fiat fully and will certainly do everything possible to make the fiat can last.
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?
not fiat still has its own price, maybe the price will go down but not too much, because maybe fiat investors will turn to bitcoin investment, hopefully it could be the trigger of bitcoin price increase.
I was reading about self made billionaires behind the payment systems that Apple use and it seems relevant to the worth and propagation of bitcoin. There are far more services and products sold without bitcoin then any enabled by crypto and if everything was available by crypto it would actually pose a problem. Crypto lacks the systems that Fiat and online companies use to make payment easy, cheap and secure to process.
So it continues to be the case that even with a 10,000 price, the utility of Fiat currencies is not easily in reach of Bitcoin at least. Maybe a different or sidechain to bitcoin, hopefully protocols continue to adapt and no one sees a price tag as success.
So it continues to be the case that even with a 10,000 price, the utility of Fiat currencies is not easily in reach of Bitcoin at least. Maybe a different or sidechain to bitcoin, hopefully protocols continue to adapt and no one sees a price tag as success.
No, because there are still services that doesn't offer bitcoin as payment. The bitcoin needs to be develop and the access on internet must be apply to all people. Also the fiat will not be dump since the government needs a way to tax people.
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, that's never going to happen. Even if the value of bitcoin rises to its higher peak fiat money will still be the legal currency and it's not going to be worthless. People uses fiat money almost everyday and not all establishments accepts bitcoin as payment so people still need cash for everyday living. Do you agree with this statement?
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?
hehe Thread opened in December 2015. Even thinking at this time that Bitcoin price will reach $10k was kind of abstraction
And today we are little step from 10000 USD per 1 BTC. As we can see in fiat world actually nothing happened. I'm sure that Bitcoin can coexist with fiat money in financial system around the world.It is believable at this stage as bitcoin climbs really well past almost $ 8.300, it makes 10k$ within reach and i think if this continues maybe bu]y next month with all the x mas shopping and the demand for payments here and there bitcoin will reach 10k% somehow.
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?
hehe Thread opened in December 2015. Even thinking at this time that Bitcoin price will reach $10k was kind of abstraction
And today we are little step from 10000 USD per 1 BTC. As we can see in fiat world actually nothing happened. I'm sure that Bitcoin can coexist with fiat money in financial system around the world.
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?
hehe Thread opened in December 2015. Even thinking at this time that Bitcoin price will reach $10k was kind of abstraction
And today we are little step from 10000 USD per 1 BTC. As we can see in fiat world actually nothing happened. I'm sure that Bitcoin can coexist with fiat money in financial system around the world. Fiat not yet been worthless even though bitcoin has hit $10K. Because, compared to currency in Asia still has higher capitalization than btc. Bitcoin and fiat are on different platforms. So that's not very influential.
Yes that’s true, if it was considered like that, then Gold would have replaced Fiat a long time ago because it was the first ever, and is also worth more than Fiat.If you’re saying that Bitcoin will replace Fiat due to it is having more value more than Fiat, then you know nothing about currencies and how they work. Bitcoin is a stock, and stocks are meant to be more costly than real currencies, that’s what makes them different, just like Gold. Secondly, Bitcoin has just a number of 21 million, so it can’t replace Fiat. Well, no need to say that, whether limited number or not, it still can never be used in place of Fiat.
If btc is widely accepted, governments would be losing power, and people dependent on fiat, which is almost everyone, would be losing purchasing power. It might not be too noticeable at that point yet, but, when it comes to money, if one side gains the other inevitably losses.
On the other hand, if it stays mostly as an asset people speculate on, like now, not much would be different even at a much higher price.
On the other hand, if it stays mostly as an asset people speculate on, like now, not much would be different even at a much higher price.
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
It's impossible that fiat would be worthless because its been used for decades and it is also controlled by government so even if btc price will be at $1million still fiat will not be worthless. What you just read are all just speculation to make btc be more exposed. Do you agree with this statement?
I don't think so, many countries is still lacking in technology especially in third world countries.
They don't even know what bitcoin is. And to be frank i'm living in an urbanized place where I think 3/4 of people here doesn't know what bitcoin is. I'm from PH.
In addition, FIAT money is controlled by the government. The government is everywhere. Thus, fiat money wont be worthless because it's the way they earn
They don't even know what bitcoin is. And to be frank i'm living in an urbanized place where I think 3/4 of people here doesn't know what bitcoin is. I'm from PH.
In addition, FIAT money is controlled by the government. The government is everywhere. Thus, fiat money wont be worthless because it's the way they earn
I think not. Fiat will not be worthless even if bitcoin will reach $10k. fiat's value si more stable than bitcoin. knowing that bitcoin jsnstill young, it can be affected by some news and other psychological influences that can change the mind of a person not to believe in bitcoin. by all means, fiat will still be used my majority because we all know not all people has an access to internet.
We are almost going to hit $10000 this year and I don't think that fiat will be useless. And I don't think that it will be useless not in the next 100 years. If you mean that there will be cashless society, then I believed in will in the future. But fiat being worthless? don't think so. And for those thinking that bitcoin will replace fiat, it can't and won't be. As long as there are Central Banks around the world, fiat will also exist. Do you think that each nations will just eliminate their own Central Banks? The answer is NO.
Yeap, i totally agree with you man. There is really no way that any cryoto currency that can literally make fiat useless. Not anywhere hnear these years. Although if there would be, only bitcoin can pull it off. But certainly not yet. But if op meamt that it would happen in the far future, then i wipl agree with him. Because something like this is really bound to happen. No doubt about that. Fiat is something we cannot live without yet. Specially in countries like mine that still lack number of internet connections in remote areas. We still need to solve these type of problems first before we can talk about getting rid of fiat. Itlself.
Yeahhh OP should say $100,000 and not $10,000. At $100,000 per Bitcoin the market cap will be over a trillion dollars (still no where near gold even), but then this conversation will hold more weight. Realistically, even at a million per Bitcoin it won't destroy the dollar, because Bitcoin is always being lost every day. The price needs to go far higher than a million and I suspect it will because of the deflationary aspect of it... people are too used to inflation and can't wrap their heads around deflation make the price of BTC always go up over time, instead of how the fiat currencies of today always go down.
this is a very likely development of events
but what will happen next is not clear
The horizon of events lacks to predict this
hence the conclusion must be fixed
but what will happen next is not clear
The horizon of events lacks to predict this
hence the conclusion must be fixed
10k is just a small step on a very long route that we're gonna pass in a blink of an eye this year:)
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