If bitcoin price is $10.000, will fiat be worthless? - page 64.

Finestream

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Quote from: fkvidar on July 19, 2016, 02:40:25 PM

Quote from: pearnapple on July 19, 2016, 02:38:08 PM

Quote from: Fidemoga on July 19, 2016, 12:11:23 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.

Fiat is enforced by law while bitcoin is not and that is why bitcoin is too risky to invest. However, due to so much faith by the holders of this coin, I think it will survive and will continue to succeed in the future.

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Quote from: pearnapple on July 19, 2016, 02:38:08 PM

Quote from: Fidemoga on July 19, 2016, 12:11:23 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.

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Quote from: Fidemoga on July 19, 2016, 12:11:23 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

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

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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?

This is a statement possible maybe 50 years from now. But given how the economic conditions and its movement are the price of bitcoin cannot put down fiat currency. It will take more than price for bitcoin to make fiat worthless. And so I totally disagree with the statement that fiat will be worthless. We cannot at this point of time purchase things if we don't convert bitcoins to fiat currency.

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Quote from: Fidemoga on July 09, 2016, 09:07:08 AM

The bitcoin price could go to $10,000 in 3 to 5 years. I do not think the US dollar or Euro will be worthless.

I still doubt we can reach that much high price. We have seen halving could not make $1000 even so thing of 10000$ (which is 10 times of 1000$)
is more than impossible to achieve.

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Quote from: john2231 on July 10, 2016, 04:30:49 AM

Quote from: groll on July 10, 2016, 04:18:16 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?

I do not agree with this statement. Even if bitcoin will reach 10k dollars local stores will not accept bitcoins as exchange for their goods. You cannot buy a cup of coffee using bitcoin. Fiat currency is still the official legal tender and even if bitcoins value is very big it cannot replace fiat currency if it is not yet the official legal tender. Maybe in the future bitcoin will replace dollars.

I think its already happen in brazil they have 150 stores right are accepting bitcoin as payment.. and i think it will happen too here in my country because many people are adopting bitcoin here and i think this following months or years we will experience the same as brazil..

Would be a good news if it happens also in your country, but just to be sure we are a growing economy and we are increase daily, in due time we will reach the progress we have been waiting for.

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Quote from: groll on July 10, 2016, 04:18:16 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?

I do not agree with this statement. Even if bitcoin will reach 10k dollars local stores will not accept bitcoins as exchange for their goods. You cannot buy a cup of coffee using bitcoin. Fiat currency is still the official legal tender and even if bitcoins value is very big it cannot replace fiat currency if it is not yet the official legal tender. Maybe in the future bitcoin will replace dollars.

I think its already happen in brazil they have 150 stores right are accepting bitcoin as payment.. and i think it will happen too here in my country because many people are adopting bitcoin here and i think this following months or years we will experience the same as brazil..

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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 do not agree with this statement. Even if bitcoin will reach 10k dollars local stores will not accept bitcoins as exchange for their goods. You cannot buy a cup of coffee using bitcoin. Fiat currency is still the official legal tender and even if bitcoins value is very big it cannot replace fiat currency if it is not yet the official legal tender. Maybe in the future bitcoin will replace dollars.

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Quote from: Malsetid on July 10, 2016, 01:36:56 AM

Quote from: ASHLIUSZ on July 09, 2016, 09:34:24 AM

Quote from: Fidemoga on July 09, 2016, 09:07:08 AM

The bitcoin price could go to $10,000 in 3 to 5 years. I do not think the US dollar or Euro will be worthless.

Yeah bitcoin can worth even more and more after years with good usage and mass adoption but it is very hard to make fiat worthless.

The fiat is a way to exploit ordinary people as the supply of the currency is unlimited. The governments will always use it.

The same can essentially be said in respect to Bitcoin. That is, the rich ("the government") are exploiting the ordinary people ("the plebs") as Bitcoin is infinitely divisible, thereby leaving the latter only the dust...

Infinite divisibility in Bitcoin seems to be what unlimited supply is in fiat

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Quote from: ASHLIUSZ on July 09, 2016, 09:34:24 AM

Quote from: Fidemoga on July 09, 2016, 09:07:08 AM

The bitcoin price could go to $10,000 in 3 to 5 years. I do not think the US dollar or Euro will be worthless.

Yeah bitcoin can worth even more and more after years with good usage and mass adoption but it is very hard to make fiat worthless.

The fiat is a way to exploit ordinary people as the supply of the currency is unlimited. The governments will always use it.

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Quote from: Fidemoga on July 09, 2016, 09:07:08 AM

The bitcoin price could go to $10,000 in 3 to 5 years. I do not think the US dollar or Euro will be worthless.

Yeah bitcoin can worth even more and more after years with good usage and mass adoption but it is very hard to make fiat worthless.

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Fiat currency will never be worthless because of alone bitcoin, even if bitcoin goes up to 1 million.

Fiat currency is backed by some tangible asset but bitcoin is backed by people's trust only. Bitcoin is not a physical currency and not also backed by any government.

BItcoin is just an innovation which showed us the way to financial freedom without being tracked by the nodal agencies of government. But fiat will never be worthless.

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The bitcoin price could go to $10,000 in 3 to 5 years. I do not think the US dollar or Euro will be worthless.

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Quote from: deisik on June 10, 2016, 10:14:05 AM

And those who already have bitcoins become richer just for doing nothing at the expense of new comers, i.e. buyers...

A so-called premium for being early adopters, lol

I doubt those early adopters still have bitcoin that really has great numbers on hold. If you are an early adopter you will such make move when the price hits above $1000 then catastrophe happen after that to minimize the loss.

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Quote from: randy8777 on June 10, 2016, 06:42:03 AM

Quote from: blackmachinegun on June 10, 2016, 01:25:32 AM

Quote from: Nouelle-Hunter on June 08, 2016, 08:37:54 PM

Well I think fiat will not be worthless even if bitcoin cross that price because many will trade it into fiat and fiat will still be used by many because the government will not let bitcoin overthrow bitcoin. Grin

I think if bitcoin worth that high. people will not buy bitcoin? because bitcoin is very expensive? it is an unreasonable price. let's talk highest prices in bitcoin reasonable and although the price rose to $ 1,500. it will have no effects on fiat

you seem to forget that bitcoin is divisible into much smaller units. to be more precise, you can divide a single bitcoin into 100,000,000 satoshi's if you so wish.

And those who already have bitcoins become richer just for doing nothing at the expense of new comers, i.e. buyers...

A so-called premium for being early adopters, yeah

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Quote from: blackmachinegun on June 10, 2016, 01:25:32 AM

Quote from: Nouelle-Hunter on June 08, 2016, 08:37:54 PM

Well I think fiat will not be worthless even if bitcoin cross that price because many will trade it into fiat and fiat will still be used by many because the government will not let bitcoin overthrow bitcoin. Grin

I think if bitcoin worth that high. people will not buy bitcoin? because bitcoin is very expensive? it is an unreasonable price. let's talk highest prices in bitcoin reasonable and although the price rose to $ 1,500. it will have no effects on fiat

you seem to forget that bitcoin is divisible into much smaller units. to be more precise, you can divide a single bitcoin into 100,000,000 satoshi's if you so wish.

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Is this conversation still continuing? Did anyone here go to school? When you were there did some of the teachers tell you about adding up and stuff? Global commerce is gonna have a little bit of trouble operating with a $160 billion market cap.

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Quote from: rio3233 on June 10, 2016, 04:55:46 AM

I think the price of bitcoin will not affect the fiat, even the bitcoin's price is $10.000. Fiat is always worth though. But if the price of bitcoin is real on $10.000, i'm very happy.

Exactly fiat won't get affected with the increase of bitcoin price, as both were not interconnected to each other. Also the direct acceptance of bitcoin for products and services were very low. For this reason anyway bitcoin needs to depend upon fiat but fiat doesn't need to depend on bitcoin.

rio3233

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I think the price of bitcoin will not affect the fiat, even the bitcoin's price is $10.000. Fiat is always worth though. But if the price of bitcoin is real on $10.000, i'm very happy.

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