Topic: If bitcoin price is $10.000, will fiat be worthless? - page 51. (Read 145078 times)
None of the currency is dependable on any other currency because of their price value so if one currency will increase in value then it will not destroy any other currency. But it is the opportunities with a currency and the interest of people in a currency that establish a currency and dominate it on others. So the price alone cannot make fiat worthless.
The day Bitcoin replaces the petrodollar is the day fiat becomes useless.
What do you mean about the petrodollar?
Bitcoin price has nothing with value of the fiat. Fiat can become worthless, but that will not happen cause of bitcoin. Fiat economy is full with nonsense, and that economy is doomed, it's just question when will explode and make big crisis in the world.
Bitcoin can make a lot for itself in that times, if people jump from fiat to btc, but that is also one of big questions.
Anyway we will not see fiat worthless any time soon, maybe in 10 20 years.
Bitcoin can make a lot for itself in that times, if people jump from fiat to btc, but that is also one of big questions.
Anyway we will not see fiat worthless any time soon, maybe in 10 20 years.
I think the fiat will stay for a long time, when you travel you always need the local fiat currency in order to buy the stuff you need. For example, I can't pay my water bottle with bitcoin, hopefully in a near future
The day Bitcoin replaces the petrodollar is the day fiat becomes useless.
I am not agree with you, because you know if bitcoin would be increased more than it $10000, than fiat currency has no problem from bitcoin, Worthless how can it would be possible?
If bitcoin might be reached at $10.000, than its mean bitcoin too expensive and majority of the people have no range to buy the bitcoins, but it give us great profit from us, who are already using the bitcoin.
I also agree that even if bitcoin reaches that price of 10.000(which isnt possible realistically) but still i will not make fiat worth less.But fiat has no connection with that,fiat will always be used in the real world,may be less for online activities,but it wont make much difference. If bitcoin might be reached at $10.000, than its mean bitcoin too expensive and majority of the people have no range to buy the bitcoins, but it give us great profit from us, who are already using the bitcoin.
Bitcoin price has nothing with value of the fiat. Fiat can become worthless, but that will not happen cause of bitcoin. Fiat economy is full with nonsense, and that economy is doomed, it's just question when will explode and make big crisis in the world.
Bitcoin can make a lot for itself in that times, if people jump from fiat to btc, but that is also one of big questions.
Anyway we will not see fiat worthless any time soon, maybe in 10 20 years.
Bitcoin can make a lot for itself in that times, if people jump from fiat to btc, but that is also one of big questions.
Anyway we will not see fiat worthless any time soon, maybe in 10 20 years.
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.
If bitcoin price reached $10,000 then definitely we can see a massive conversion of bitcoin into fiat.
Now if fiat is worthless when that day comes, then no one will convert and it's useless now for a dream price since all in all 1btc=1btc.
That is why Fiat is never going to be worthless,
It is really hard to buy food with bitcoin, especially if there is going to be a crisis etc.
Also fiat is controlled by the government, while bitcoin isn't.
And fiat can take care of physical transactions which is not present and never will be present in most of the places in the world.
Bitcoin needs internet to be used so what if in some cases, there is electricity problem in a certain place? How come they can do offline transaction in bitcoin if in the first place bitcoin is only meant for online transactions.
You are right. The fiat can survive a long time in places where there is no electricity and the internet.
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.
If bitcoin price reached $10,000 then definitely we can see a massive conversion of bitcoin into fiat.
Now if fiat is worthless when that day comes, then no one will convert and it's useless now for a dream price since all in all 1btc=1btc.
That is why Fiat is never going to be worthless,
It is really hard to buy food with bitcoin, especially if there is going to be a crisis etc.
Also fiat is controlled by the government, while bitcoin isn't.
And fiat can take care of physical transactions which is not present and never will be present in most of the places in the world.
Bitcoin needs internet to be used so what if in some cases, there is electricity problem in a certain place? How come they can do offline transaction in bitcoin if in the first place bitcoin is only meant for online transactions.
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.
If bitcoin price reached $10,000 then definitely we can see a massive conversion of bitcoin into fiat.
Now if fiat is worthless when that day comes, then no one will convert and it's useless now for a dream price since all in all 1btc=1btc.
That is why Fiat is never going to be worthless,
It is really hard to buy food with bitcoin, especially if there is going to be a crisis etc.
Also fiat is controlled by the government, while bitcoin isn't.
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.
If bitcoin price reached $10,000 then definitely we can see a massive conversion of bitcoin into fiat.
Now if fiat is worthless when that day comes, then no one will convert and it's useless now for a dream price since all in all 1btc=1btc.
No, even if Bitcoin price reaches $10000, Stiill fiat will be alive in the market.Even now in some countries, fiat price is very less but still it is used and it will be used for buying goods.
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 will never happen fiat will always show its presence even in future and till the time Government will have their control on a country fiat will always exist as Government will never allow any digital currency to replace their national currency.Yes, fiat will not be rendered worthless as long as we have governments that collect taxes and print money at the very least. No government would allow bitcoin to become a full-scale replacement to their national currencies. To that end, some of them take a somewhat short-sighted approach and go as far putting a lid on its use within their jurisdictions.
And even if bitcoin gains more popularity and gets on the mainstream even though there would be many people who will prefer to use fiat as they find it easy and convenient to use.
Fiat is easy to use as it has the form of cash. You do not need a computer or electrical device to send momeny.
The use of cash as such is already very limited without electronic communication. Without the latter it's like the Middle Ages actually.
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 will never happen fiat will always show its presence even in future and till the time Government will have their control on a country fiat will always exist as Government will never allow any digital currency to replace their national currency.Yes, fiat will not be rendered worthless as long as we have governments that collect taxes and print money at the very least. No government would allow bitcoin to become a full-scale replacement to their national currencies. To that end, some of them take a somewhat short-sighted approach and go as far putting a lid on its use within their jurisdictions.
And even if bitcoin gains more popularity and gets on the mainstream even though there would be many people who will prefer to use fiat as they find it easy and convenient to use.
Right, the whole idea of pitting bitcoin against fiat as a payment method is wrong. Ideally, they will co-exist and complement each other, with bitcoin filling in some of the niches where fiat is either inconvenient or just too expensive to us.
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
I think no , Fiat already use daily every where in the world and it will hard to change it to btc and the transaction of it you need to wait too long before the payment recieve so it will hard to change Fiat. Do you agree with this statement?
I am not agree with you, because you know if bitcoin would be increased more than it $10000, than fiat currency has no problem from bitcoin, Worthless how can it would be possible?
If bitcoin might be reached at $10.000, than its mean bitcoin too expensive and majority of the people have no range to buy the bitcoins, but it give us great profit from us, who are already using the bitcoin.
If bitcoin might be reached at $10.000, than its mean bitcoin too expensive and majority of the people have no range to buy the bitcoins, but it give us great profit from us, who are already using the bitcoin.
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.
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.
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.
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.
On the first hand Bitcoin will never reach that value and we have to be realistic and not dream because this is all wasted time if we talk about that it will reach the $10,000 so stop it also.
And no Fiat will be not worthless if that is going to happen but first you must let it happen and than we all can talk futher, the price is not even rise in the halving now.
Right 10,000$ in only in his dream because we know that the price of bitcoin can not reach that price. And no Fiat will be not worthless if that is going to happen but first you must let it happen and than we all can talk futher, the price is not even rise in the halving now.
Fiat is can not be worthless because you can not use bitcoin directly to buy you want you need it first to convert it and use fiat to buy things.
It's not really just in our dreams. Bitcoin used to seem impossible to reach $1 in the first years. Then it seemed impossible to reach $10, and then $100 and then $1000. Now it seems impossible for the price to reach $10k, but in my honest opinion.. With the recent halving, it's not impossible at all.
After the SegWit is fully implemented, or the bitcoin block size is increased to 2MB or higher, the price will break $1000.
Jump to: