If bitcoin price is $10.000, will fiat be worthless? - page 55.

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Quote from: ajun96 on October 04, 2016, 06:28:08 AM

Quote from: Malsetid on September 21, 2016, 12:36:18 PM

That is right. The only difference is that more people will use the bitcoin instead of the fiat. The bitcoin price will rise.

I think the price is high does not mean everyone will use bitcoin as compared to fiat, examples of clay just some time ago when the price of bitcoin 1200-fold compared to the dollar, but not everyone is switching from fiat and use bitcoin right?

the price going up to such high levels will more likely attract people that are looking for an investment rather than a currency. and don't forget about the yolo investors that we also have seen when the price touched its all time high. either way, fiat will never become worthless regardless of the bitcoin price.

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Quote from: Malsetid on September 21, 2016, 12:36:18 PM

That is right. The only difference is that more people will use the bitcoin instead of the fiat. The bitcoin price will rise.

I think the price is high does not mean everyone will use bitcoin as compared to fiat, examples of clay just some time ago when the price of bitcoin 1200-fold compared to the dollar, but not everyone is switching from fiat and use bitcoin right?

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Quote from: Zadicar on October 04, 2016, 05:36:28 AM

Quote from: coynedterm on October 04, 2016, 01:40:52 AM

Quote from: virtualx on December 13, 2015, 05:25:39 AM

In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?

yes , because with this price everyone who are in bitcoin work or earning program , everyone will get the same profit or loss . if the bitcoin price will increase upto $10k then there will be absolutely fiat currency will worthless .

It wont happen even how high on the price of bitcoin because the value itself would depend on fiat and there no way that it would be useless even bitcoin would soar high. Bitcoin wont be a competitor on fiat because fiat is so vast and well established and been used already on many centuries.

Yes and fiat will always exist no matter how higher price bitcoin achieves in future as there are many people who will prefer to use only fiat and won't bother about bitcoins.

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Quote from: coynedterm on October 04, 2016, 01:40:52 AM

Quote from: virtualx on December 13, 2015, 05:25:39 AM

In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?

yes , because with this price everyone who are in bitcoin work or earning program , everyone will get the same profit or loss . if the bitcoin price will increase upto $10k then there will be absolutely fiat currency will worthless .

It wont happen even how high on the price of bitcoin because the value itself would depend on fiat and there no way that it would be useless even bitcoin would soar high. Bitcoin wont be a competitor on fiat because fiat is so vast and well established and been used already on many centuries.

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Quote from: StoreBit on September 13, 2016, 03:57:20 PM

Quote from: adibe on September 13, 2016, 07:04:13 AM

I don't think so, bitcoin price will not affect the fiat, even the price of bitcoin reach $100.000, fiat still worth and many people still using fiat. Bitcoin will not affect fiat.

yes it is not such an easy job to make fiat worthless, actually the number of people using bitcoin is very low therefore most of the people are still using and depending of fiat, therefore fiat cannot be made worthless in recently.

The fiat will always be supported by the government. That is a good way to exploit the people with inflation.

I don't think whatever is the price of bitcoin is going to be still fiat is going to be there and not going to be worthless. And besides the people are used to use fiat money and not with bitcoin. So even bitcoin is going to reach $1,000,000 then that is not going to make fiat worthless because not all the people on Earth knows bitcoin.

Yeah and even if bitcoin touches that price people will still prefer to sell them and convert to fiat so I don't think that fiat is going anywhere and the first choice of people will always be fiat.

I think also fiat is going to stay cause the foundation of fiat is just too big and they exist way too long to just be extinct.
But bitcoin can be a very big competitior of fiat ofcourse.

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Quote from: virtualx on December 13, 2015, 05:25:39 AM

In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?

yes , because with this price everyone who are in bitcoin work or earning program , everyone will get the same profit or loss . if the bitcoin price will increase upto $10k then there will be absolutely fiat currency will worthless .

23dzmaz

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I think the price of bitcoin will not affect the fiat and even the price of bitcoin reach $10.000 or more, fiat still be worthy. If bitcoin price is $10.000, i'm sure the fiat user will interest at bitcoin.

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Quote from: mastica on October 03, 2016, 04:11:08 PM

Bitcoin will always has a position where it may use or not around currencies, but it wont make other currencies loose their big investments and wont stop the big transactions volume they had, no the price of bitcoin sure its matters, but wont make fiat worthless never.

I certainly agree with your statement, bitcoin might be the currency of the people but big businessman have their own interest and whatever make their business fall down will be eliminated, they have partners in the government and government can do to protect the interest of the big businesses so they will continue to earn from the taxes they will pay.

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Bitcoin will always has a position where it may use or not around currencies, but it wont make other currencies loose their big investments and wont stop the big transactions volume they had, no the price of bitcoin sure its matters, but wont make fiat worthless never.

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Quote from: mirakal on September 22, 2016, 04:50:59 AM

Quote from: Zadicar on September 22, 2016, 04:17:04 AM

Quote from: Malsetid on September 21, 2016, 12:36:18 PM

Quote from: sobsitesearch on September 21, 2016, 05:47:43 AM

Quote from: buxlover on September 21, 2016, 05:17:58 AM

Quote from: virtualx on December 13, 2015, 05:25:39 AM

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 fiat will never become worthless, your question itself proves that fiat can never be avoided by comparing btc to usd. so we always need some fiat to compare or convert.

Maybe in far future someday there would be question like if $1 is equal to 1 btc can fiat become more common currency used. but i would say that would never happen.

Correct that fiat is still remain as fiat in the future even the bitcoin has a huge value, more users are not able to spend bitcoin in their country instead they need to exchange it first to fiat before to spend and how fiat will be worthless?

That is right. The only difference is that more people will use the bitcoin instead of the fiat. The bitcoin price will rise.

I dont think this would happen since people would surely use fiat than bitcoin well i cant guarantee on the future but i would assume lots of people would still use fiat since its been used since at the beginning . If bitcoin would increase its adoption for sure it would increase its price but it wont make fiat worthless anytime soon.

I love bitcoin but I need to accept that fact that bitcoin cannot go on without fiat, bitcoin is just an instrument to transact online is a cheapest and the fastest way but we are just inferior with fiat because we only rely in fiat, if a certain economy of the country will be down, we will be grossly affected also.

The bitcoin is superior to fiat as it can be transacted without using a third part such as a bank. So it is more safe.

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Quote from: Zadicar on September 22, 2016, 04:17:04 AM

Quote from: Malsetid on September 21, 2016, 12:36:18 PM

Quote from: sobsitesearch on September 21, 2016, 05:47:43 AM

Quote from: buxlover on September 21, 2016, 05:17:58 AM

Quote from: virtualx on December 13, 2015, 05:25:39 AM

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 fiat will never become worthless, your question itself proves that fiat can never be avoided by comparing btc to usd. so we always need some fiat to compare or convert.

Maybe in far future someday there would be question like if $1 is equal to 1 btc can fiat become more common currency used. but i would say that would never happen.

Correct that fiat is still remain as fiat in the future even the bitcoin has a huge value, more users are not able to spend bitcoin in their country instead they need to exchange it first to fiat before to spend and how fiat will be worthless?

That is right. The only difference is that more people will use the bitcoin instead of the fiat. The bitcoin price will rise.

I dont think this would happen since people would surely use fiat than bitcoin well i cant guarantee on the future but i would assume lots of people would still use fiat since its been used since at the beginning . If bitcoin would increase its adoption for sure it would increase its price but it wont make fiat worthless anytime soon.

I love bitcoin but I need to accept that fact that bitcoin cannot go on without fiat, bitcoin is just an instrument to transact online is a cheapest and the fastest way but we are just inferior with fiat because we only rely in fiat, if a certain economy of the country will be down, we will be grossly affected also.

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Quote from: Malsetid on September 21, 2016, 12:36:18 PM

Quote from: sobsitesearch on September 21, 2016, 05:47:43 AM

Quote from: buxlover on September 21, 2016, 05:17:58 AM

Quote from: virtualx on December 13, 2015, 05:25:39 AM

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 fiat will never become worthless, your question itself proves that fiat can never be avoided by comparing btc to usd. so we always need some fiat to compare or convert.

Maybe in far future someday there would be question like if $1 is equal to 1 btc can fiat become more common currency used. but i would say that would never happen.

Correct that fiat is still remain as fiat in the future even the bitcoin has a huge value, more users are not able to spend bitcoin in their country instead they need to exchange it first to fiat before to spend and how fiat will be worthless?

That is right. The only difference is that more people will use the bitcoin instead of the fiat. The bitcoin price will rise.

I dont think this would happen since people would surely use fiat than bitcoin well i cant guarantee on the future but i would assume lots of people would still use fiat since its been used since at the beginning . If bitcoin would increase its adoption for sure it would increase its price but it wont make fiat worthless anytime soon.

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Quote from: saiha on September 21, 2016, 08:12:38 PM

Quote from: agustina2 on September 21, 2016, 01:26:47 PM

Quote from: Malsetid on September 21, 2016, 12:36:18 PM

That is right. The only difference is that more people will use the bitcoin instead of the fiat. The bitcoin price will rise.

I think not. With the bitcoin price valued at $10,000, there will be more people that will exchange their bitcoin to fiat.

It's just with the price between btc to usd but products, things, good etc. in real life has the same retail price when deals with USD so it's interesting to convert bitcoin to USD once the price reached that level.

That is going to make fiat more worthy rather than making it worthless. Because if that happens I will going to exchange it to fiat fast.

And whatever is going to be the value of bitcoin fiat will always be there and going to be important because it is necessity.

People are going to keep trusting fiat rather than bitcoin.

People often forget about the flipping side which is always there. In this case, you will be selling your bitcoins to someone who will be buying them. Since the price will reach (if ever) $10,000 from below all the way up, the demand for Bitcoin should be overwhelming the supply side all along. Thereby, selling your stash at $10,000 will hardly change anything in this respect and scarcely make fiat more valuable...

Unless you are Satoshi himself who decides to sell all his coins, of course

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Quote from: agustina2 on September 21, 2016, 01:26:47 PM

Quote from: Malsetid on September 21, 2016, 12:36:18 PM

That is right. The only difference is that more people will use the bitcoin instead of the fiat. The bitcoin price will rise.

I think not. With the bitcoin price valued at $10,000, there will be more people that will exchange their bitcoin to fiat.

It's just with the price between btc to usd but products, things, good etc. in real life has the same retail price when deals with USD so it's interesting to convert bitcoin to USD once the price reached that level.

If the bitcoin price rises all the time, or rises every year, people will buy the bitcoin and keep it for the long term.

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Quote from: agustina2 on September 21, 2016, 01:26:47 PM

Quote from: Malsetid on September 21, 2016, 12:36:18 PM

That is right. The only difference is that more people will use the bitcoin instead of the fiat. The bitcoin price will rise.

I think not. With the bitcoin price valued at $10,000, there will be more people that will exchange their bitcoin to fiat.

It's just with the price between btc to usd but products, things, good etc. in real life has the same retail price when deals with USD so it's interesting to convert bitcoin to USD once the price reached that level.

That is going to make fiat more worthy rather than making it worthless. Because if that happens I will going to exchange it to fiat fast.

And whatever is going to be the value of bitcoin fiat will always be there and going to be important because it is necessity.

People are going to keep trusting fiat rather than bitcoin.

agustina2

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Quote from: Malsetid on September 21, 2016, 12:36:18 PM

That is right. The only difference is that more people will use the bitcoin instead of the fiat. The bitcoin price will rise.

I think not. With the bitcoin price valued at $10,000, there will be more people that will exchange their bitcoin to fiat.

It's just with the price between btc to usd but products, things, good etc. in real life has the same retail price when deals with USD so it's interesting to convert bitcoin to USD once the price reached that level.

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Quote from: sobsitesearch on September 21, 2016, 05:47:43 AM

Quote from: buxlover on September 21, 2016, 05:17:58 AM

Quote from: virtualx on December 13, 2015, 05:25:39 AM

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 fiat will never become worthless, your question itself proves that fiat can never be avoided by comparing btc to usd. so we always need some fiat to compare or convert.

Maybe in far future someday there would be question like if $1 is equal to 1 btc can fiat become more common currency used. but i would say that would never happen.

Correct that fiat is still remain as fiat in the future even the bitcoin has a huge value, more users are not able to spend bitcoin in their country instead they need to exchange it first to fiat before to spend and how fiat will be worthless?

That is right. The only difference is that more people will use the bitcoin instead of the fiat. The bitcoin price will rise.

sobsitesearch

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Quote from: buxlover on September 21, 2016, 05:17:58 AM

Quote from: virtualx on December 13, 2015, 05:25:39 AM

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 fiat will never become worthless, your question itself proves that fiat can never be avoided by comparing btc to usd. so we always need some fiat to compare or convert.

Maybe in far future someday there would be question like if $1 is equal to 1 btc can fiat become more common currency used. but i would say that would never happen.

Correct that fiat is still remain as fiat in the future even the bitcoin has a huge value, more users are not able to spend bitcoin in their country instead they need to exchange it first to fiat before to spend and how fiat will be worthless?

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Quote from: virtualx on December 13, 2015, 05:25:39 AM

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 fiat will never become worthless, your question itself proves that fiat can never be avoided by comparing btc to usd. so we always need some fiat to compare or convert.

Maybe in far future someday there would be question like if $1 is equal to 1 btc can fiat become more common currency used. but i would say that would never happen.

InsideBjorn

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No fiat will never be worthless atleast not the bigger ones like euro and dollar cause those are too big.
The famillies who run the world banks are involved in some stuff that probably nobody knows and then have alot of power for sure which we can't overrule

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