Topic: If bitcoin price is $10.000, will fiat be worthless? - page 50. (Read 145059 times)
A internet takeover alone would make it easily 30k+ and fiat has trillions of dollars as market cap
I don't think that fiat will ever become worthless even price of bitcoin reaches to the moon as everyone is dependent on it for living and even if we have to use bitcoins we need to convert them to fiat first to spend them.
Specially true for countries that do not accept bitcoin as first preferred mode of payment. We have to convert first before transacting. Very cumbersome because we need an exchange for doing this and then pay the merchant. It better to pay in cash before wasting that time.
In our country, government officials make a substandard projects but it cost more than the actual price, so they tend to make their corruption activity a legitimate one.
no because really low amount of pupils from the world are using bitcoin right now so it will tnot become worthless
I don't think that fiat will ever become worthless even price of bitcoin reaches to the moon as everyone is dependent on it for living and even if we have to use bitcoins we need to convert them to fiat first to spend them.
Specially true for countries that do not accept bitcoin as first preferred mode of payment. We have to convert first before transacting. Very cumbersome because we need an exchange for doing this and then pay the merchant. It better to pay in cash before wasting that time.
Yes it will, at least for me. Because that will be in at least 10 years, and in at least 10 years, with what I'll have accumulated, I'll have enough to live until the end of my days 
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To be honest, when it happens, there will be no FIAT money anymore. The government currency system will totally collapse and there will be a revolution of Cryptocurrency which is leaded by Bitcoin users. There will be no tax in the world and it will be much better when there is only one currency in the world: Bitcoin
That is just an imagination but reality would be totally different from that, as no government would let that happen as in that way they would lose control on the country or on the economic system of it which is something no government would want, and if that happens governments would go bankrupt i guess if there will be no tax at all.
What most are forgetting are the difference between a weak fiat and strong one. The weak one can easily be seen like zimbawabe money and unravel on its own trying to print more #`s on the damn paper. The stronger fiat will stay in the # on its paper not following that route because its used globally which makes it harder to fail.
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
if bitcoin price even cross $20.000 but fiat can't be worthless because the reason behind this is that everyone here only earning btc for fiat ( bank money) .Do you agree with this statement?
so it can be happening that at a small time interval people buy bitcoin for fiat but they can't leave fiat in the present time .
Exactly, Bitcoin by itself has no value, it's the fiat value associated with Bitcoin that makes it valuable. If fiat is worthless then Bitcoin is worthless. Right now, businesses/companies that accept Bitcoin don't actually hold it, coins that are sent to them get converted automatically and reach them as dollars etc. Currently Bitcoin is more like a payment processor than a currency. Fiat is sent using Bitcoin technology same way you send fiat using PayPal technology.
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
if bitcoin price even cross $20.000 but fiat can't be worthless because the reason behind this is that everyone here only earning btc for fiat ( bank money) .Do you agree with this statement?
so it can be happening that at a small time interval people buy bitcoin for fiat but they can't leave fiat in the present time .
Exactly, Bitcoin by itself has no value, it's the fiat value associated with Bitcoin that makes it valuable. If fiat is worthless then Bitcoin is worthless. Right now, businesses/companies that accept Bitcoin don't actually hold it, coins that are sent to them get converted automatically and reach them as dollars etc. Currently Bitcoin is more like a payment processor than a currency. Fiat is sent using Bitcoin technology same way you send fiat using PayPal technology.
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
if bitcoin price even cross $20.000 but fiat can't be worthless because the reason behind this is that everyone here only earning btc for fiat ( bank money) .Do you agree with this statement?
so it can be happening that at a small time interval people buy bitcoin for fiat but they can't leave fiat in the present time .
Wouldn't that just make bitcoin a commodity like gold/silver? This would be simply at investment status.
Which is great for people who invest, but as a daily currency I wouldn't think of it like that.
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
if bitcoin price even cross $20.000 but fiat can't be worthless because the reason behind this is that everyone here only earning btc for fiat ( bank money) .Do you agree with this statement?
so it can be happening that at a small time interval people buy bitcoin for fiat but they can't leave fiat in the present time .
Wouldn't that just make bitcoin a commodity like gold/silver? This would be simply at investment status.
Which is great for people who invest, but as a daily currency I wouldn't think of it like that.
bitcoin and fiat will co exist and nothing can be taken away from the fact that a countries economy depends on the currency it holds and all the trade will occur in fiat and it will continue to be like this
You are right with it even though bitcoin will reach $100,000 still fiat will remain and it won't be worthless. They are going to keep on existing and used by the people for they are very good type of investment that is why for me it will not be worthless unless the government is going to do something about this.
i think if fiat still using by people in many country, then fiat still worth and fiat can work together with bitcoin which in $10,000 for the price. and i think many government will consider and thinking to still using fiat because their citizen is not yet giving respon with bitcoin. and its need a lot to do to make bitcoin is using by many more 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?
may be became worthless for small time but it will not remain worthless for long time , because the main matter here is if we will going to buy bitcoin than we need fiat and if we are going to sell for profit than again we are getting fiat only .Do you agree with this statement?
thus in my opinion fiat can't be worthless even after the 1 btc price because 1k.times the current 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?
if bitcoin price even cross $20.000 but fiat can't be worthless because the reason behind this is that everyone here only earning btc for fiat ( bank money) .Do you agree with this statement?
so it can be happening that at a small time interval people buy bitcoin for fiat but they can't leave fiat in the present time .
bitcoin and fiat will co exist and nothing can be taken away from the fact that a countries economy depends on the currency it holds and all the trade will occur in fiat and it will continue to be like this
That's more realistic to say, fiat will always be here even in the future as that is created by the government and we people live by the rules of the government, bitcoin is great but look how many people are using this (only few).Fiat has been widely used as it is simple and no restrictions in using it,
bitcoin and fiat will co exist and nothing can be taken away from the fact that a countries economy depends on the currency it holds and all the trade will occur in fiat and it will continue to be like this
I'm not afraid since i checked if it is logged in blockchain.info 
But it makes me angry because I wanted to trade and I lost 8-10% profit to that delay
But anyway that showed me clearly what one major problem BTC has to deal with in the future. I think ill switch to bitsquare because then i dont have to worry for a hack and can trade/move $ much faster.
But it makes me angry because I wanted to trade and I lost 8-10% profit to that delay
But anyway that showed me clearly what one major problem BTC has to deal with in the future. I think ill switch to bitsquare because then i dont have to worry for a hack and can trade/move $ much faster.
BTC will never rise that high. Too much problems.
I send today 80 BTC with 0.002 transaction fee. I'm waiting now for ridiculous 8 hours an still no arrival.
Imagine now 10x transactions or even 100 (what is still nothing compared to regular financials), how long we have to wait then? And how expensive would be the fee then?
sorry to hear that , never do send like that high amount 80 btcI send today 80 BTC with 0.002 transaction fee. I'm waiting now for ridiculous 8 hours an still no arrival.
Imagine now 10x transactions or even 100 (what is still nothing compared to regular financials), how long we have to wait then? And how expensive would be the fee then?
it must make you worry to wait up to 8 hours , when so many people think bitcoin is the fastest transaction
and lowest fee ever ... but considering to your case it seems bitcoin not work like that
yeah i feel the same too recently the transaction feel like always delayed and the fee also required higher than usual , i can not imagine then if the price of bitcoin reached $10,000.
BTC will never rise that high. Too much problems.
I send today 80 BTC with 0.002 transaction fee. I'm waiting now for ridiculous 8 hours an still no arrival.
Imagine now 10x transactions or even 100 (what is still nothing compared to regular financials), how long we have to wait then? And how expensive would be the fee then?
I send today 80 BTC with 0.002 transaction fee. I'm waiting now for ridiculous 8 hours an still no arrival.
Imagine now 10x transactions or even 100 (what is still nothing compared to regular financials), how long we have to wait then? And how expensive would be the fee then?
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