Topic: If bitcoin price is $10.000, will fiat be worthless? - page 62. (Read 145078 times)
It is something unreal to bitcoin would be 10.000$. And if it happen and many people will try to fiat in the same moment - collapse is possible. And probably not just collapse, economy crashing as well. It's gonna be new the bladder.
I also don't think fiat will be worthless in case if bitcoin will go $10.000 for each, both are related because at the moment it's very difficult to use bitcoin in some part of the world, we still need fiat currencies to buy some stuff, maybe after some years bitcoin could replace it but I'm not sure about this.
bitcoin and faint are related to each other and we are the one who made this rule because people are not gonna leave hand cash so soon we need atleast 500years to build trust with bitcoin before faint became worthless
That is right. The bitcoin value will increase in the long term but the fiat value will reduce in the long term.
bitcoin and faint are related to each other and we are the one who made this rule because people are not gonna leave hand cash so soon we need atleast 500years to build trust with bitcoin before faint became worthless
I don't think fiat currencies will go away. I think we will have both fiat and bitcoin together, each with it' own niche in the same way that we have fiat along with credit cards, paypal, western union, etc.
Haha, go away.PayPal has no future, wait a few years and they will be gone.
There support is worthless, don't accept bitcoin as legal payment proof. I think that says enough. Oh wait it can also be chargebacked...
I don't think fiat currencies will go away. I think we will have both fiat and bitcoin together, each with it' own niche in the same way that we have fiat along with credit cards, paypal, western union, etc.
i dont think so that if the price of bitcoin rise to 10000USD the fiat currency will be worthless. i think in near future it is not possible that the price of bitcoin will reach to 10000 it will take years i think to reach to this level. even then it is not possible that tie fiat will be worthless.
It is not far from being possible. Somehow I am seeing it to happen in the future. With bitcoins always increasing 50 to 100% of its price every year there is a high potential for bitcoins to reach 10k$. But to think that it will replace the fiat currency it is impossible. But it may be possible that bitcoin will be the official currency online that will serve as the representative of fiat currency especially dollars.
If bitcoin price is 10,000 USD, i dont think fiat money will be worthless. Bitcoin value is independent from fiat money. Same thing with fiat money to Bitcoin. We are just comparing for example USD and EURO, they are both currency and even if USD gone 10x the value of EURO, euro will never be worthlless because there are still a country using it and backing it. Same thing with Bitcoin and Fiat money.
For 1 BTC to reach 10,000 USD we might need a hyper inflation. So in the end you might only get a few grociers for your 10,000 USD =)
Of course there could be a huge run on bitcoins bring the price up to utopic levels and making all the bitcoin investors milionairs. Very unlikely though.
USD will undervalued and that case might happen. Meaning the value of $10,000 in the future is only like $10 today.
So it's still useless even the bitcoin price will reached $10,000 since value are just the same in the real world.
Digital currency is different from fiat, like in your example USD and EURO are different because in every country we have our own currency and only by bitcoin that we are united in using only one currency and if that value will be reach by bitcoins it could be a dominant currency.
They probably wont but I believe it costs money for them to keep replacing notes that wear out so in theory it might save them money to do so. Otherwise dollar would be the same, all digital and just the same prices slowly rising every day
The main difference from normal national currency to bitcoin is the computerised control of major factors, such as the production of new currency. Via block reward, this is quite different from politics involved in US dollars and bitcoin has a fixed amount known to ever exist. If they ever change this about bitcoin it would likely mean the standard fails.
Price of fiat money wont affect bitcoin, its really not our business. Dollars is just one nation and as said above, bitcoin represents the earths population though it just a small percentage mostly highly online based
first it is not possible that bitcoin rate will be ever come to 10$. and suppose it happened and the price of bitcoin reduce to 10$ i think the people will lose their confidence on bitcoin . they will stop investment in bitcoin. they will fine some other sources for their investment. so i can say that if the price of bitcoin drop to 10$ the fiat currency will not be worthless. but will become more stronger.
Nope. Because we don't know if fiat will still be using in the future or not. But as far as I know, Bitcoin price can't go from 500$ into 10,000$ in just a week or year, so if that is the case, fiat currency will not be worthless unless someone stock all the fiat in long time. But we still don't know if the fiat currency price will hike or not. So for me, fiat will still be useful in the next generation and we will still use it to transact and to pay with our bills.
If bitcoin price is 10,000 USD, i dont think fiat money will be worthless. Bitcoin value is independent from fiat money. Same thing with fiat money to Bitcoin. We are just comparing for example USD and EURO, they are both currency and even if USD gone 10x the value of EURO, euro will never be worthlless because there are still a country using it and backing it. Same thing with Bitcoin and Fiat money.
For 1 BTC to reach 10,000 USD we might need a hyper inflation. So in the end you might only get a few grociers for your 10,000 USD =)
Of course there could be a huge run on bitcoins bring the price up to utopic levels and making all the bitcoin investors milionairs. Very unlikely though.
If bitcoin price is 10,000 USD, i dont think fiat money will be worthless. Bitcoin value is independent from fiat money. Same thing with fiat money to Bitcoin. We are just comparing for example USD and EURO, they are both currency and even if USD gone 10x the value of EURO, euro will never be worthlless because there are still a country using it and backing it. Same thing with Bitcoin and Fiat money.
Digital currency is different from fiat, like in your example USD and EURO are different because in every country we have our own currency and only by bitcoin that we are united in using only one currency and if that value will be reach by bitcoins it could be a dominant currency. 
If bitcoin price is 10,000 USD, i dont think fiat money will be worthless. Bitcoin value is independent from fiat money. Same thing with fiat money to Bitcoin. We are just comparing for example USD and EURO, they are both currency and even if USD gone 10x the value of EURO, euro will never be worthlless because there are still a country using it and backing it. Same thing with Bitcoin and Fiat money.
Understand this: Fiat will always be Money. Bitcoin will always be Fiat Money.
Bitcoin will not replace fiat anytime soon and banks will not be replaced by Bitcoin for now.
Bitcoin can be used for a lot of fantastic things but not to replace day money
Also price of Bitcoin will never be 10k per piece. Stop dreaming, think as an investor.
Bitcoin will not replace fiat anytime soon and banks will not be replaced by Bitcoin for now.
Bitcoin can be used for a lot of fantastic things but not to replace day money
Also price of Bitcoin will never be 10k per piece. Stop dreaming, think as an investor.
i dont think so that if the price of bitcoin rise to 10000USD the fiat currency will be worthless. i think in near future it is not possible that the price of bitcoin will reach to 10000 it will take years i think to reach to this level. even then it is not possible that tie fiat will be worthless.
The price of bitcoin could be $10,000 in 3 to 10 years. I am pretty sure there will be fiat in existence then.
even though i think that it is pretty much for the price to go up that much in just 3 years, i think that it will definitely be possible to achieve in 8-10 years as people will be buying itYeah bitcoin will take at least a decade to achieve that price and even if it touches that price someday then I don't think that fiat will become worthless as many users will still prefer to use it.
No even for decades it can't reached that price. Faith and optimitism can't applied here because we are taking this sequence into a realistic basis.
For $10,000 to achieved it needs billions of USD value to be used and I doubt big whales will put some value like that as they love price fluctuations.
It takes several whales to really manipulate price point if they wanted.
But as for the realistic organic growth you are referring to being impossible - it just needs the deficit to go over the gold/silver market and if they cant back it up in a 1:1 ratio then bitcoin obviously will be the next move.
i dont think so they're a bit different one physical and one digital, but in the future i'm certain all will be digital but not yet, for the prize to go up in time i say yes but people are different, if this makes sense
Fiat will always be worthy because we used to it. The people are more familiar on using fiat money instead of bitcoins price. And whatever the price of bitcoin is going to be for sure many people are still going to rely to the use of fiat money. But if the government is going to allow bitcoin to conquer over fiat money then it is going to be worthless fiat.
Yes it is hard for the people to accept the replacement of bitcoin for the use of fiat money. But if the government is going to force their people to use the cashless society and going to implement it in no time for sure the people can't do anything about it because it is going to be a good thing for all the people to have convenience in transactions.
i dont think so they're a bit different one physical and one digital, but in the future i'm certain all will be digital but not yet, for the prize to go up in time i say yes but people are different, if this makes sense
Fiat will always be worthy because we used to it. The people are more familiar on using fiat money instead of bitcoins price. And whatever the price of bitcoin is going to be for sure many people are still going to rely to the use of fiat money. But if the government is going to allow bitcoin to conquer over fiat money then it is going to be worthless fiat.
i dont think so they're a bit different one physical and one digital, but in the future i'm certain all will be digital but not yet, for the prize to go up in time i say yes but people are different, if this makes sense
Fiat will always be worthy because we used to it. The people are more familiar on using fiat money instead of bitcoins price. And whatever the price of bitcoin is going to be for sure many people are still going to rely to the use of fiat money. But if the government is going to allow bitcoin to conquer over fiat money then it is going to be worthless fiat.
Jump to: