If bitcoin price is $10.000, will fiat be worthless? - page 58.

Altcoinmoney

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Quote from: shogdite on December 13, 2015, 06:44:01 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?

Where is that topic maybe link us in this thread as i would like to read the reasoning behind that kind of thinking. If bitcoin reaches $10,000 that is not the world adopted it but only a small amount in the scheme of things. The only time fiat becomes worthless in some countries is when inflation goes out of control, check Zimbabwe for reference. In short no fiat will not become worthless because of bitcoin but there is a chance of it becoming worthless should certain people want it to.

If the bitcoin price is that high that would be great becuase i know for sure that allot of people like to see the price of the bitcoin at that hight allot of people would be very happy about it.

Hanacerty

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Quote from: iqlimasyadiqa on September 10, 2016, 08:24:00 AM

for me not. because bitcoin has its place, respectively. bitcoin digital currency is currently on computerized ecosystem.
bitcoin price increase will not affect the financial system in the world.

For the time being, the bitcoin price is still very low, so the total market capitalisation is also low. When the price of bitcoin is $10,000 each, it will affect the financial system.

iqlimasyadiqa

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for me not. because bitcoin has its place, respectively. bitcoin digital currency is currently on computerized ecosystem.
bitcoin price increase will not affect the financial system in the world.

JessicaSe

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Quote from: X-ray on September 10, 2016, 08:03:04 AM

Quote from: mark coins on September 08, 2016, 10:50:41 AM

Quote from: oceanriver on September 08, 2016, 10:45:40 AM

Quote from: Divinespark on September 06, 2016, 06:50:36 AM

I firmly believe that $10k is easily achievable just via the store of value properties alone of BTC.
If BTC ever moves beyond the 1 Trillion mkt cap, eminently possible even inveitable given that Central Banks are pumping 100s of Billions into the global economy every month, the fiat world at its core will start getting decimated

of course it is really achievable and in my opinion we will reach such a big price in only like a few years or something like that

It can be achieved but not so easily and no one knows when exactly it will happen but I don't think that people will prefer to hold their coins till it reaches to that value.

it's indeed possible to be achieved but keep in mind that price rising will not going to happen forever,there will be price falling and could make even a bitcoin that worth $10,000 turn into $100 so all the possibilities could be happening no matter what

Anything is possible with bitcoins, it may or may not touch that price in future, no one can predict what exactly will happen in future, so without thinking of that I will prefer to take short term benefits.

X-ray

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Quote from: mark coins on September 08, 2016, 10:50:41 AM

Quote from: oceanriver on September 08, 2016, 10:45:40 AM

Quote from: Divinespark on September 06, 2016, 06:50:36 AM

I firmly believe that $10k is easily achievable just via the store of value properties alone of BTC.
If BTC ever moves beyond the 1 Trillion mkt cap, eminently possible even inveitable given that Central Banks are pumping 100s of Billions into the global economy every month, the fiat world at its core will start getting decimated

of course it is really achievable and in my opinion we will reach such a big price in only like a few years or something like that

It can be achieved but not so easily and no one knows when exactly it will happen but I don't think that people will prefer to hold their coins till it reaches to that value.

it's indeed possible to be achieved but keep in mind that price rising will not going to happen forever,there will be price falling and could make even a bitcoin that worth $10,000 turn into $100 so all the possibilities could be happening no matter what

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Quote from: Hamtard on September 10, 2016, 03:07:35 AM

Quote from: mark coins on September 08, 2016, 10:50:41 AM

Quote from: oceanriver on September 08, 2016, 10:45:40 AM

Quote from: Divinespark on September 06, 2016, 06:50:36 AM

I firmly believe that $10k is easily achievable just via the store of value properties alone of BTC.
If BTC ever moves beyond the 1 Trillion mkt cap, eminently possible even inveitable given that Central Banks are pumping 100s of Billions into the global economy every month, the fiat world at its core will start getting decimated

of course it is really achievable and in my opinion we will reach such a big price in only like a few years or something like that

It can be achieved but not so easily and no one knows when exactly it will happen but I don't think that people will prefer to hold their coins till it reaches to that value.

If the price trend of the bitcoin is the same as before, I think the price of bitcoin can reach that level in a few years.

The history will repeat but it will not happen that bitcoin will fall again, we are in the new times that bitcoin will succeed because it gains already a lot of popularity already and the volume is increase with the amount of investment and the volume of users.

Hamtard

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Quote from: mark coins on September 08, 2016, 10:50:41 AM

Quote from: oceanriver on September 08, 2016, 10:45:40 AM

Quote from: Divinespark on September 06, 2016, 06:50:36 AM

I firmly believe that $10k is easily achievable just via the store of value properties alone of BTC.
If BTC ever moves beyond the 1 Trillion mkt cap, eminently possible even inveitable given that Central Banks are pumping 100s of Billions into the global economy every month, the fiat world at its core will start getting decimated

of course it is really achievable and in my opinion we will reach such a big price in only like a few years or something like that

It can be achieved but not so easily and no one knows when exactly it will happen but I don't think that people will prefer to hold their coins till it reaches to that value.

If the price trend of the bitcoin is the same as before, I think the price of bitcoin can reach that level in a few years.

mark coins

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Quote from: oceanriver on September 08, 2016, 10:45:40 AM

Quote from: Divinespark on September 06, 2016, 06:50:36 AM

I firmly believe that $10k is easily achievable just via the store of value properties alone of BTC.
If BTC ever moves beyond the 1 Trillion mkt cap, eminently possible even inveitable given that Central Banks are pumping 100s of Billions into the global economy every month, the fiat world at its core will start getting decimated

of course it is really achievable and in my opinion we will reach such a big price in only like a few years or something like that

It can be achieved but not so easily and no one knows when exactly it will happen but I don't think that people will prefer to hold their coins till it reaches to that value.

oceanriver

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Quote from: Divinespark on September 06, 2016, 06:50:36 AM

I firmly believe that $10k is easily achievable just via the store of value properties alone of BTC.
If BTC ever moves beyond the 1 Trillion mkt cap, eminently possible even inveitable given that Central Banks are pumping 100s of Billions into the global economy every month, the fiat world at its core will start getting decimated

of course it is really achievable and in my opinion we will reach such a big price in only like a few years or something like that

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Quote from: Betwrong on September 08, 2016, 03:33:18 AM

Quote from: mrsimple on September 07, 2016, 10:38:19 PM

I think the price of bitcoin will not affect the fiat. Fiat will stay the way they are, and if the price of bitcoin reach $10.000 i think many people will start using bitcoin. Realy can't for image the on the day.

I think it's just the other way round, first more people start using Bitcoin and then the price of it rises to $10k or whatever. IMO $10,000 for 1 Bitcoin is not that unrealistic as it may look. I think this might happen when 20 times more people than now will be using Bitcoin (probably a matter of 2-3 years).

I don't think that price can be achieved in next 3 years, its taking long time even to cross $1k so I think it will take more then 10 years to achieve that price but no one is confident about it.

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Quote from: mrsimple on September 07, 2016, 10:38:19 PM

I think the price of bitcoin will not affect the fiat. Fiat will stay the way they are, and if the price of bitcoin reach $10.000 i think many people will start using bitcoin. Realy can't for image the on the day.

I think it's just the other way round, first more people start using Bitcoin and then the price of it rises to $10k or whatever. IMO $10,000 for 1 Bitcoin is not that unrealistic as it may look. I think this might happen when 20 times more people than now will be using Bitcoin (probably a matter of 2-3 years).

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Quote from: chaser15 on September 08, 2016, 03:16:27 AM

Quote from: mrsimple on September 07, 2016, 10:38:19 PM

I think the price of bitcoin will not affect the fiat. Fiat will stay the way they are, and if the price of bitcoin reach $10.000 i think many people will start using bitcoin. Realy can't for image the on the day.

I think no. If bitcoin price will be $10,000, then most of the bitcoin users will just convert their bitcoin into fiat.

Yes more people will entered bitcoin world but their primarily purpose is to gain bitcoin then exchange it to fiat which is $10,000 exchange rate if ever that will happen.

No, if Bitcoin would reach $10k, it would convince a lot of people to buy, hoping for another huge increase. Like in 2013 when BTC rose up to $1k, everyone would simply invest.

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Quote from: mrsimple on September 07, 2016, 10:38:19 PM

I think the price of bitcoin will not affect the fiat. Fiat will stay the way they are, and if the price of bitcoin reach $10.000 i think many people will start using bitcoin. Realy can't for image the on the day.

I think no. If bitcoin price will be $10,000, then most of the bitcoin users will just convert their bitcoin into fiat.

Yes more people will entered bitcoin world but their primarily purpose is to gain bitcoin then exchange it to fiat which is $10,000 exchange rate if ever that will happen.

goldcoinminer

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Quote from: Xenophoto on September 07, 2016, 11:06:44 PM

My answer is both yes and no because two things can happen. In this situation, one this is for sure, we assume that Bitcoin price is 1000$. I can think of two scenarios:

1. Somebody is holding a huge percentage of the total Bitcoins and choose to not sell any. He's just holding it until the end. This makes Bitcoin scarce since a huge portion will not be on the market anymore. Scarcity = Increase in value. So, fiat still has worth in this case.

2. People realized that they are tired of getting a huge sum of income tax when they get paid with fiat so they choose to get paid with Bitcoin. People have finally embraced the idea of Bitcoin and dumped their fiat. In this case, fiat will have lesser value.

It is not the peoples game because anytime the government can declare using bitcoin as illegal one they saw a big threat that there people will not already follow the laws in their respective countries, the government are created to make and implement laws and their basic source of income is the taxes from the people which I am sure they do not want to compromise that.

Xenophoto

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My answer is both yes and no because two things can happen. In this situation, one this is for sure, we assume that Bitcoin price is 1000$. I can think of two scenarios:

1. Somebody is holding a huge percentage of the total Bitcoins and choose to not sell any. He's just holding it until the end. This makes Bitcoin scarce since a huge portion will not be on the market anymore. Scarcity = Increase in value. So, fiat still has worth in this case.

2. People realized that they are tired of getting a huge sum of income tax when they get paid with fiat so they choose to get paid with Bitcoin. People have finally embraced the idea of Bitcoin and dumped their fiat. In this case, fiat will have lesser value.

mrsimple

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I think the price of bitcoin will not affect the fiat. Fiat will stay the way they are, and if the price of bitcoin reach $10.000 i think many people will start using bitcoin. Realy can't for image the on the day.

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Quote from: trickshot22 on September 06, 2016, 06:57:28 AM

Quote from: Doamader on September 05, 2016, 07:41:51 AM

Quote from: machinek20 on September 05, 2016, 12:49:54 AM

Quote from: ttargett on September 04, 2016, 11:27:51 AM

Quote from: michelle1845 on September 03, 2016, 08:14:15 PM

Yes, it could be worthless, but it would take time to achieve this... many people still will continue to use fiat money for many years, before that happen.

it wouldnt be worthless for sure, because then bitcoins wouldnt still replace all the money, first of all bitcoin should grow way more i think

i also think it wont be worthless, because the bitcoin price is not depend on the fiat value, so if it goes up to 10.000$ nothing will effected except the bitcoin user, we will be richer and more people will try to keep more coin, there wont be any effect on any country

I do agree with you bitcoin would only affect those people who has bitcoin, for the countries wont mean nothing as its something they dont use, sure some banks and countries could block the funds to know where they come, besides that nothing would really happen.

though countries should be starting accepting it because in my opinion tit is a wonderful technology that will make people good fortune

Governments and Banks hate bitcoin because is a threat to the monopoly that they have through currency, they will fight bitcoin to the bitter end, but at the end bitcoin is going to win because of its superior technology.

trickshot22

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Quote from: Doamader on September 05, 2016, 07:41:51 AM

Quote from: machinek20 on September 05, 2016, 12:49:54 AM

Quote from: ttargett on September 04, 2016, 11:27:51 AM

Quote from: michelle1845 on September 03, 2016, 08:14:15 PM

Yes, it could be worthless, but it would take time to achieve this... many people still will continue to use fiat money for many years, before that happen.

it wouldnt be worthless for sure, because then bitcoins wouldnt still replace all the money, first of all bitcoin should grow way more i think

i also think it wont be worthless, because the bitcoin price is not depend on the fiat value, so if it goes up to 10.000$ nothing will effected except the bitcoin user, we will be richer and more people will try to keep more coin, there wont be any effect on any country

I do agree with you bitcoin would only affect those people who has bitcoin, for the countries wont mean nothing as its something they dont use, sure some banks and countries could block the funds to know where they come, besides that nothing would really happen.

though countries should be starting accepting it because in my opinion tit is a wonderful technology that will make people good fortune

Divinespark

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I firmly believe that $10k is easily achievable just via the store of value properties alone of BTC.
If BTC ever moves beyond the 1 Trillion mkt cap, eminently possible even inveitable given that Central Banks are pumping 100s of Billions into the global economy every month, the fiat world at its core will start getting decimated

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Quote from: goldcoinminer on September 06, 2016, 03:10:52 AM

Quote from: lienfaye on September 06, 2016, 02:22:35 AM

Quote from: VanDeinsberg12 on September 06, 2016, 02:02:24 AM

Just a simple anwer, you are typewriting about $10.000 and you're forgetting if you're using the symboling of fiat like $ and than that is will refer if bitcoin will always stad into fiat and if the bticoin price is until more than $1000000000000000000000 fiat will never be worthless because that is will always become a measurement for bitcoin.

Absolutely, the value of bitcoin is always connected in fiat so btc might become worthless but not the fiat itself. those who will get affected in increase of value of btc are only the users of it.

Bitcoin and fiat will remain connected but when the value of bitcoin fiat will still be the same, the value of the countries fiat defers on the economic performance but bitcoin is base on the demand of the adopters so I think we can see bitcoin a more progressive on in terms of value over fiat.

The adoption and usage of the bitcoin will proress in the next few years as the bitcoin has limited supply and the value will rise.

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