If bitcoin price is $10.000, will fiat be worthless? - page 63.

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Quote from: ErnieRox on July 25, 2016, 10:10:21 PM

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.

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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

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Quote from: BitcoinPaw on July 25, 2016, 07:24:28 PM

Till bitcoin is not accepted by any country as legal currency it can't change fiat's price even if price is $9999999, but in future everything can change, we'll see.

Yes we will see it in the future, everything can change in the future. Especially when a country is going to adopt the use of bitcoin. But as of now, still there are a lot of people that doesn't know about bitcoin because they think that it is not worth it at all. But if the price is going to be $10,000 by that time there is only one thing I can assure you guys, we are going to be rich. Cheesy

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Till bitcoin is not accepted by any country as legal currency it can't change fiat's price even if price is $9999999, but in future everything can change, we'll see.

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If someday bitcoin could reach such ammount, it would mean mainstream and bitcoin would be everywhere, soo fiat wouldnt be worthless as the suppy of bitcoin has a limit and will decrease over the years. Fiat can be printed anytime, soo its unlimited money circulating.

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Quote from: michelle1845 on July 25, 2016, 06:00:04 PM

The question is if people will be willing buy BTC at 10k USD or not.

of course people will be willing to pay that much for bitcoins in my opinion, people will want to use it and they will spend a lot of money to get it

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I think different tu. brbeda bitcoin prices by fiat price. bitcoin prices stand alone and without pressure from others. I think when the price of bitcoin be 10,000 USD will have sprung up the new rich people in this world.

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Quote from: pearnapple on July 25, 2016, 05:11:11 PM

Quote from: mishra1994u on July 25, 2016, 03:20:51 AM

I have also voted for no like many others here.Fiat can never be worthless no matter how much price bitcoin gains or how much popular bitcoin becomes all over the world.Because these are two completely different currecies, Bitcoin is a digital virtual currency and fiat is what we we use in our normal day to day life its a paper currency.

i think that fiat might be worthless if bitcoin will actually replace all the money of the world, in any other ways fiat will be worth at least something

Till we don't find many places where we can spend bitcoins directly, fiat will always be in demand as at a moment everyone is converting it to fiat to spend it and it may continue in future too.

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The question is if people will be willing buy BTC at 10k USD or not.

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Quote from: chaser15 on July 20, 2016, 04:32:21 AM

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.

Bitcoin can be ten thousand tomorrow and it'd require no change on value, it might be the same exchangable worth as before. Dollars have no fixed value that is the point, there is no rule to say we cant have bitcoin change from 1000 to 10,000 very quickly.
Just realise all the debt and previous QE programs have stacked up dollars ready to be used in supermarkets or for oil or for anything whenever the market stops wanting to roll over this debt and extend extra credit terms to USA continually. Its all just waiting there like melting snow on a hillside, an avalanche is very possible

Fiat wont be worthless at 10k bitcoin, it just means a possible 10x higher price on everything you buy now.

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Quote from: mishra1994u on July 25, 2016, 03:20:51 AM

I have also voted for no like many others here.Fiat can never be worthless no matter how much price bitcoin gains or how much popular bitcoin becomes all over the world.Because these are two completely different currecies, Bitcoin is a digital virtual currency and fiat is what we we use in our normal day to day life its a paper currency.

i think that fiat might be worthless if bitcoin will actually replace all the money of the world, in any other ways fiat will be worth at least something

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No.

As long as the public uses fiat to exchange for goods and services, it will have value. The only thing that can take it's value away is if people stop using it.

And it's better for fiat to remain around...we don't want it to go away. If fiat goes away then all the Leaders of the world will get involved in Bitcoin to try to control and manipulate it (as they do with fiat).

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Fiat will exist and coexist with many other currencies like bitcoin.
Remember folks it's not a battle between bitcoin in fiat, It's a battle between the people vs banks and governments.
They want to take our financial freedom, bitcoin provides us financial freedom.

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Quote from: dunfida on July 25, 2016, 03:48:54 AM

Quote from: mishra1994u on July 25, 2016, 03:20:51 AM

I have also voted for no like many others here.Fiat can never be worthless no matter how much price bitcoin gains or how much popular bitcoin becomes all over the world.Because these are two completely different currecies, Bitcoin is a digital virtual currency and fiat is what we we use in our normal day to day life its a paper currency.

Yes, all of the people refer to use fiat in real world because its the way we been used for how many centuries as you said fiat and btc are different . Bitcoin cant replace fiat even if it reaches $100k but it would be more interesting if the price of btc would reach that high amount . Many of us would convert to fiat, in short saying people still prefer fiat.

Considering the number of population in the whole world and their status in life I could not see that fiat will be worthless even if the price of bitcoins with reach more than $10,000. The world is ruled by the government and we should abide the law as a citizen to comply with it, bitcoin is not regulated so we cannot expect that to happen.

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Quote from: mishra1994u on July 25, 2016, 03:20:51 AM

I have also voted for no like many others here.Fiat can never be worthless no matter how much price bitcoin gains or how much popular bitcoin becomes all over the world.Because these are two completely different currecies, Bitcoin is a digital virtual currency and fiat is what we we use in our normal day to day life its a paper currency.

Yes, all of the people refer to use fiat in real world because its the way we been used for how many centuries as you said fiat and btc are different . Bitcoin cant replace fiat even if it reaches $100k but it would be more interesting if the price of btc would reach that high amount . Many of us would convert to fiat, in short saying people still prefer fiat.

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Quote from: goldcoinminer on July 25, 2016, 03:17:32 AM

Quote from: chaser15 on July 20, 2016, 04:32:21 AM

Quote from: fkvidar on July 19, 2016, 03:40:25 PM

Quote from: pearnapple on July 19, 2016, 03:38:08 PM

Quote from: Fidemoga on July 19, 2016, 01:11:23 PM

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 it

Yeah 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.

We don't need big whales because they are the reason why the price fluctuates that hard, we need to attract more users that would patronize the use of bitcoins in order for us to see a real increase in the circulation and we will all be benefited with the price increase

Attracting more users won't help change Bitcoin wealth distribution in any significant degree. In real life, wealth redistribution happens due to wars, revolutions, epidemics (e.g. the Black Death in Europe in 14th century, which killed half the population), or various crises. With regards to Bitcoin, I think only a dramatic price collapse could change anything in this respect...

For example, Bitcoin going down back to $1 per coin could potentially make the whales get rid of their stashes

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I have also voted for no like many others here.Fiat can never be worthless no matter how much price bitcoin gains or how much popular bitcoin becomes all over the world.Because these are two completely different currecies, Bitcoin is a digital virtual currency and fiat is what we we use in our normal day to day life its a paper currency.

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Quote from: chaser15 on July 20, 2016, 04:32:21 AM

Quote from: fkvidar on July 19, 2016, 03:40:25 PM

Quote from: pearnapple on July 19, 2016, 03:38:08 PM

Quote from: Fidemoga on July 19, 2016, 01:11:23 PM

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 it

Yeah 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.

We don't need big whales because they are the reason why the price fluctuates that hard, we need to attract more users that would patronize the use of bitcoins in order for us to see a real increase in the circulation and we will all be benefited with the price increase.

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Quote from: fkvidar on July 19, 2016, 03:40:25 PM

Quote from: pearnapple on July 19, 2016, 03:38:08 PM

Quote from: Fidemoga on July 19, 2016, 01:11:23 PM

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 it

Yeah 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.

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Quote from: Fidemoga on July 19, 2016, 01:11:23 PM

The price of bitcoin could be $10,000 in 3 to 10 years. I am pretty sure there will be fiat in existence then.

$10,000 in 3 years is impossible...But that's true, even if the price of bitcoin increases and the time pass by and big improvement in technology happens, fiat will still exist..It will be there until the government decides that it will be staying..

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