If bitcoin price is $10.000, will fiat be worthless? - page 57.

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Quote from: Hamtard on September 20, 2016, 03:29:28 AM

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.

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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.

StoreBit

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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.

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Quote from: AdolfinWolf on September 13, 2016, 01:41:44 PM

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?

If BTC is going to reach 10.000$ The value of fiat is probably alot higher aswell. I don't think it is ever going to be worthless, because it is runned by the government, while bitcoin is not.

I think it can not affect the price of fiat.. we are always relaying in the present price of fiat and fiat is more stable than bitcoin..
Honestly it takes a long time that the price will hit at 10k value maybe if i am old or died the price will hit at that price.

AdolfinWolf

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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?

If BTC is going to reach 10.000$ The value of fiat is probably alot higher aswell. I don't think it is ever going to be worthless, because it is runned by the government, while bitcoin is not.

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Quote from: Zadicar on September 13, 2016, 09:53:13 AM

Quote from: JessicaSe on September 13, 2016, 07:05:40 AM

Quote from: ajun96 on September 13, 2016, 05:54:46 AM

Quote from: Japinat on September 13, 2016, 03:47:27 AM

Fiat will never be worthless regardless of the price of bitcoin, we are just less than 1 percent of the total population so obviously we cannot beat the people who are using fiat, we need fiat to succeed and that is the story and nothing else.

nope i think bitcoin users are now more than 1% of the total population of the world and I think if the price rise was due to an enlarged demand bitcoin? so I think the more people then the price will probably be higher. maybe you could think of the number of users bitcoin if the bitcoin price reaches $ 10k

The higher price of bitcoin will depend on the adoption level of people, if we find more users and bitcoins getting into it then we can expect much higher price of bitcoins.

Adoption of bitcoin would definitely affect bitcoins price in the near future since there would lots of people would intend to buy more bitcoin which would decreases the supply and the demand is getting higher which would make the price go up. Back on the topic even how would bitcoin increase its price it wouldnt make fiat worthless.

Yes and till we won't be able to spend bitcoins directly to buy anything, it will always be dependent on fiat as when users will see that high price of bitcoins the only option they have is to sell them and convert to fiat.

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Quote

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

Quote

http://falkvinge.net/2013/03/06/the-target-value-for-bitcoin-is-not-some-50-or-100-it-is-100000-to-1000000/

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Quote from: JessicaSe on September 13, 2016, 07:05:40 AM

Quote from: ajun96 on September 13, 2016, 05:54:46 AM

Quote from: Japinat on September 13, 2016, 03:47:27 AM

Fiat will never be worthless regardless of the price of bitcoin, we are just less than 1 percent of the total population so obviously we cannot beat the people who are using fiat, we need fiat to succeed and that is the story and nothing else.

nope i think bitcoin users are now more than 1% of the total population of the world and I think if the price rise was due to an enlarged demand bitcoin? so I think the more people then the price will probably be higher. maybe you could think of the number of users bitcoin if the bitcoin price reaches $ 10k

The higher price of bitcoin will depend on the adoption level of people, if we find more users and bitcoins getting into it then we can expect much higher price of bitcoins.

Adoption of bitcoin would definitely affect bitcoins price in the near future since there would lots of people would intend to buy more bitcoin which would decreases the supply and the demand is getting higher which would make the price go up. Back on the topic even how would bitcoin increase its price it wouldnt make fiat worthless.

Legasean

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IF the bitcoin price will be 10.000 each the fiat wont be worthless because i know that the fiat is another cryptocurrencie with bigger amounts and i dont think peopel will let that fall sometime.

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Quote from: ajun96 on September 13, 2016, 05:54:46 AM

Quote from: Japinat on September 13, 2016, 03:47:27 AM

Fiat will never be worthless regardless of the price of bitcoin, we are just less than 1 percent of the total population so obviously we cannot beat the people who are using fiat, we need fiat to succeed and that is the story and nothing else.

nope i think bitcoin users are now more than 1% of the total population of the world and I think if the price rise was due to an enlarged demand bitcoin? so I think the more people then the price will probably be higher. maybe you could think of the number of users bitcoin if the bitcoin price reaches $ 10k

The higher price of bitcoin will depend on the adoption level of people, if we find more users and bitcoins getting into it then we can expect much higher price of bitcoins.

adibe

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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.

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Quote from: BitHodler on September 13, 2016, 05:28:18 AM

Quote from: Japinat on September 13, 2016, 03:47:27 AM

Fiat will never be worthless regardless of the price of bitcoin, we are just less than 1 percent of the total population so obviously we cannot beat the people who are using fiat, we need fiat to succeed and that is the story and nothing else.

Exactly that! And to be even more precise, we as Bitcoin users are most likely not even 0.05% of the world population.

We are a far minority that most likely won't even make a dent in the overall fiat-usage from people.

If we at some point manage to gain 1% of the world population as Bitcoin user, then we have done an amazing job.

that exactly shows that there is so much room for growth in the future. if we at some point do manage to have 1% of the people to use bitcoin, then imagine what it will do with the price. especially when wealthy people look to use bitcoin as a store of wealth tool. i can't even imagine how happy everyone here would be.

ajun96

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Quote from: Japinat on September 13, 2016, 03:47:27 AM

Fiat will never be worthless regardless of the price of bitcoin, we are just less than 1 percent of the total population so obviously we cannot beat the people who are using fiat, we need fiat to succeed and that is the story and nothing else.

nope i think bitcoin users are now more than 1% of the total population of the world and I think if the price rise was due to an enlarged demand bitcoin? so I think the more people then the price will probably be higher. maybe you could think of the number of users bitcoin if the bitcoin price reaches $ 10k

BitFinnese

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Quote from: BitHodler on September 13, 2016, 05:28:18 AM

Quote from: Japinat on September 13, 2016, 03:47:27 AM

Fiat will never be worthless regardless of the price of bitcoin, we are just less than 1 percent of the total population so obviously we cannot beat the people who are using fiat, we need fiat to succeed and that is the story and nothing else.

Exactly that! And to be even more precise, we as Bitcoin users are most likely not even 0.05% of the world population.

We are a far minority that most likely won't even make a dent in the overall fiat-usage from people.

If we at some point manage to gain 1% of the world population as Bitcoin user, then we have done an amazing job.

This is infact true. We are the minority. actually very small minority. Many unaware member thought that bitcoin has been majorly used by all citizien of the world because many of us her spend majority of our time in this forum forgetting that there is a true world outside this forum. Aside from that, bitcoin needs to be accepted by different country to properly acknowledge it as currency and even with the recognition, is doubt bitcoin will make fiat worthless.

warwar

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Quote from: BitHodler on September 13, 2016, 05:28:18 AM

Quote from: Japinat on September 13, 2016, 03:47:27 AM

Fiat will never be worthless regardless of the price of bitcoin, we are just less than 1 percent of the total population so obviously we cannot beat the people who are using fiat, we need fiat to succeed and that is the story and nothing else.

Exactly that! And to be even more precise, we as Bitcoin users are most likely not even 0.05% of the world population.

We are a far minority that most likely won't even make a dent in the overall fiat-usage from people.

If we at some point manage to gain 1% of the world population as Bitcoin user, then we have done an amazing job.

I agree. Bitcoin community / bitcoin user are too few than the fiat user because it is all over the world then if that price will reach then i think fiat is not useless because only few are users of the bitccoin and it has no impact on our fiats

BossMacko

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Well if flat will be worthless then no one will exchange Bitcoin to flat anymore because flat is worthless already. But what i think is flat will never become worthless even Bitcoin price in the future will become really big. Because $ is our standard money wherein everyone knows how to use it.

BitHodler

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Quote from: Japinat on September 13, 2016, 03:47:27 AM

Fiat will never be worthless regardless of the price of bitcoin, we are just less than 1 percent of the total population so obviously we cannot beat the people who are using fiat, we need fiat to succeed and that is the story and nothing else.

Exactly that! And to be even more precise, we as Bitcoin users are most likely not even 0.05% of the world population.

We are a far minority that most likely won't even make a dent in the overall fiat-usage from people.

If we at some point manage to gain 1% of the world population as Bitcoin user, then we have done an amazing job.

entrepmind23

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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?

I don't think fiat will be worthless. Bitcoin will be use like gold which can be use for trading and other purposes but fiat will still be there because it is the one use by the general public now and it will still be use for decades. There are still so many people that have limited access to technology and some even to electricity so it would not be possible for them to use bitcoin. They will still use fiat because it's the one widely used and accepted by all people.

Japinat

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Fiat will never be worthless regardless of the price of bitcoin, we are just less than 1 percent of the total population so obviously we cannot beat the people who are using fiat, we need fiat to succeed and that is the story and nothing else.

Skaven

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If bitcoin price reaches that amount then I think fiat will be worthless indeed. Because to even reach this high value with bticoin fiat HAS to be worthless, it will be the reason bitcoin goes up.
But for fiat to go that low there has to be a big crisis and that will not happen, banks wouldn't let that happen either and the world would spin 180 degrees cause alot of people would go bankrupt.

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