If bitcoin price is $10.000, will fiat be worthless? - page 71.

Ziskinberg

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Quote from: wuvdoll on May 23, 2016, 01:30:49 AM

Quote from: Kevin77 on May 19, 2016, 03:43:11 PM

Quote from: ASHLIUSZ on May 18, 2016, 05:46:15 AM

Quote from: extrabyte on May 18, 2016, 04:52:14 AM

Quote from: saladin7000 on May 16, 2016, 08:13:13 AM

No it wouldnt happen if 1BTC=$10.000 maybe you mean $10k it still small for affect to fiat value, maybe if it was $1M then I think it will be a different story but I dont think btc will reach that

Even I don't think fiat will become worth less ever. no matter if bitcoin price will reach 1million $ also. (which is almost impossible) fiat will not be worthless. because local currency have its own value.. I know some countries where local currency have not any value against Dollar. like Afganistan and Iran.. so any other currency won't affect another currency.

Bitcoin value is still up over 200% in USD value from this time last year. That Bitcoin value has not only survived on a global basis for more than five years, but thrived, and attracted some of the largest merchants worldwide.

When worldwide all the merchants accept bitcoins, there will not be any chances for fiats being used. When more merchants accept bitcoin, it would definitely reach $10,000 or more price levels. So virtually we can say fiats will be worthless.

Yes, worthless in the sense being less used. It does not mean to the value of fiats. When the volume of dollars getting reduced in terms of people's usage we can assume, fiats losing its significance in people's day to day life.

I agree, and there is a big possibility that it will happen in the future, as people nowadays are already educated with online payments using digital many, they find it very easy and safe to use that bringing your cash directly to the transacting party. With the use of digital currency like bitcoins we can easily monitor our transactions that is transparently displayed at the blockchain, this enables us to keep an eye also for proper accounting of our money.

wuvdoll

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Quote from: Kevin77 on May 19, 2016, 03:43:11 PM

Quote from: ASHLIUSZ on May 18, 2016, 05:46:15 AM

Quote from: extrabyte on May 18, 2016, 04:52:14 AM

Quote from: saladin7000 on May 16, 2016, 08:13:13 AM

No it wouldnt happen if 1BTC=$10.000 maybe you mean $10k it still small for affect to fiat value, maybe if it was $1M then I think it will be a different story but I dont think btc will reach that

Even I don't think fiat will become worth less ever. no matter if bitcoin price will reach 1million $ also. (which is almost impossible) fiat will not be worthless. because local currency have its own value.. I know some countries where local currency have not any value against Dollar. like Afganistan and Iran.. so any other currency won't affect another currency.

Bitcoin value is still up over 200% in USD value from this time last year. That Bitcoin value has not only survived on a global basis for more than five years, but thrived, and attracted some of the largest merchants worldwide.

When worldwide all the merchants accept bitcoins, there will not be any chances for fiats being used. When more merchants accept bitcoin, it would definitely reach $10,000 or more price levels. So virtually we can say fiats will be worthless.

Yes, worthless in the sense being less used. It does not mean to the value of fiats. When the volume of dollars getting reduced in terms of people's usage we can assume, fiats losing its significance in people's day to day life.

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Quote from: harizen on May 22, 2016, 07:43:17 PM

Quote from: deisik on May 22, 2016, 11:24:21 AM

Quote from: harizen on May 22, 2016, 10:37:08 AM

Believe me in that time of journey from $700 to $1000, there are really "LOTS" of big rally that will happen so why bother to wait for $1000 if you can earn more by taking advantage of every price's big rally

Lol, this is the same logic that people follow when the price goes down and they start catching falling knives in the hope that there will surely be rebounds and they will exit with profit...

Overall, this approach doesn't work very well

It will work very well if you don't make it approachable. Make sense

When I was a total rookie, lol, I thought almost the same and even tried to implement this strategy in practice, thinking myself smarter than others. It didn't work out well with oil and precious metals, it failed miserably with currencies (I lost a huge amount of money on the way down and didn't earn even more on the way up), and, wtf, it didn't work out with Bitcoin either...

If you think yourself smarter than others, well, good luck to you

davincicode666

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I dont think goverment will allow that, fiat is still main currency

Edwardard

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i think nothing can make fiat worthless. fiat is used in every day to day life. if bitcoin prise rises then convert into fiat and use it anywhere. fiat has more importance for all.

kacang

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No, $10k is still so small to make fiat look worthless

Cast12

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I don't agree with this. Fiat won't be worthless because fiat to bitcoin price changes every day since bitcoin relies on fiat. Fiat relies on the government, not bitcoin for pricing.

goldcoinminer

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Quote from: harizen on May 22, 2016, 07:43:17 PM

Quote from: deisik on May 22, 2016, 11:24:21 AM

Quote from: harizen on May 22, 2016, 10:37:08 AM

Believe me in that time of journey from $700 to $1000, there are really "LOTS" of big rally that will happen so why bother to wait for $1000 if you can earn more by taking advantage of every price's big rally

Lol, this is the same logic that people follow when the price goes down and they start catching falling knives in the hope that there will surely be rebounds and they will exit with profit...

Overall, this approach doesn't work very well

It will work very well if you don't make it approachable. Make sense.

Quote from: wikenpp on May 22, 2016, 12:14:05 PM

Quote from: deisik on May 22, 2016, 11:24:21 AM

Quote from: harizen on May 22, 2016, 10:37:08 AM

Believe me in that time of journey from $700 to $1000, there are really "LOTS" of big rally that will happen so why bother to wait for $1000 if you can earn more by taking advantage of every price's big rally

Lol, this is the same logic that people follow when the price goes down and they start catching falling knives in the hope that there will surely be rebounds and they will exit with profit...

Overall, this approach doesn't work very well

To earn profit is on every rally i close to impossible. Even if you follow and analyze even trend. Eventually the unexpected will happen. Which is the exact reason
Why i've chose to buy on hold for a longer period.

Then go. Hold your BTC1 today and wait for $1000. In my part I will not wait for that $1000 and will start doing circulation from now. Let' sees who will get the most profit. Remember that by holding only the value are increases and not it's quantity.

It always depends on the strategy of the trader, if he holds his coins for a longer period of time then good and well, as long as he will profit by the time he will sell his bitcoins for FIAT.

harizen

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Quote from: deisik on May 22, 2016, 11:24:21 AM

Quote from: harizen on May 22, 2016, 10:37:08 AM

Believe me in that time of journey from $700 to $1000, there are really "LOTS" of big rally that will happen so why bother to wait for $1000 if you can earn more by taking advantage of every price's big rally

Lol, this is the same logic that people follow when the price goes down and they start catching falling knives in the hope that there will surely be rebounds and they will exit with profit...

Overall, this approach doesn't work very well

It will work very well if you don't make it approachable. Make sense.

Quote from: wikenpp on May 22, 2016, 12:14:05 PM

Quote from: deisik on May 22, 2016, 11:24:21 AM

Quote from: harizen on May 22, 2016, 10:37:08 AM

Believe me in that time of journey from $700 to $1000, there are really "LOTS" of big rally that will happen so why bother to wait for $1000 if you can earn more by taking advantage of every price's big rally

Lol, this is the same logic that people follow when the price goes down and they start catching falling knives in the hope that there will surely be rebounds and they will exit with profit...

Overall, this approach doesn't work very well

To earn profit is on every rally i close to impossible. Even if you follow and analyze even trend. Eventually the unexpected will happen. Which is the exact reason
Why i've chose to buy on hold for a longer period.

Then go. Hold your BTC1 today and wait for $1000. In my part I will not wait for that $1000 and will start doing circulation from now. Let' sees who will get the most profit. Remember that by holding only the value are increases and not it's quantity.

outatime1

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Fiat will be around for decades to come regardless of how expensive bitcoin gets. The majority of the world doesn't use bitcoin and won't be able to without easy access to computers and smart phones. I think fiat and bitcoin can be used at the same time just like other financial devices such as credit cards and paypal.

angaper

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Of course it would be needed the indispensable reference of dollars. Otherwise, if dollars worth $0, what is the point of a bitcoin price of one million dollars?

peta4e

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Its impossible for bitcoin to reach that high level its doesn't hold that high potential to reach to that level so no need to wast time in thinking all that.

wikenpp

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Quote from: deisik on May 22, 2016, 11:24:21 AM

Quote from: harizen on May 22, 2016, 10:37:08 AM

Believe me in that time of journey from $700 to $1000, there are really "LOTS" of big rally that will happen so why bother to wait for $1000 if you can earn more by taking advantage of every price's big rally

Lol, this is the same logic that people follow when the price goes down and they start catching falling knives in the hope that there will surely be rebounds and they will exit with profit...

Overall, this approach doesn't work very well

To earn profit is on every rally i close to impossible. Even if you follow and analyze even trend. Eventually the unexpected will happen. Which is the exact reason
Why i've chose to buy on hold for a longer period.

BitcoinPaw

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I think no, cause it's just a crypto currency that depend on fiat, maybe in future if bitcoin will become more popular it will start changing something.

ps_jb

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$10.000 means $10 and 0c

deisik

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Quote from: harizen on May 22, 2016, 10:37:08 AM

Believe me in that time of journey from $700 to $1000, there are really "LOTS" of big rally that will happen so why bother to wait for $1000 if you can earn more by taking advantage of every price's big rally

Lol, this is the same logic that people follow when the price goes down and they start catching falling knives in the hope that there will surely be rebounds and they will exit with profit...

Overall, this approach doesn't work very well

harizen

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Quote from: BitHodler on May 22, 2016, 06:16:58 AM

That's true and majority of people will dump their coins when they will see the price of $1k as one has that patience to wait till it reaches to $10k.

The majority of the people will most likely end up selling their coins below $800 and even below $700 as they don't have the patience to wait till the price reaches $1000 again.

$700 to $1000 journey. Look at the range. Even me I'd rather sold my coins at $700 or $800 rather than to wait for $1000.

Believe me in that time of journey from $700 to $1000, there are really "LOTS" of big rally that will happen so why bother to wait for $1000 if you can earn more by taking advantage of every price's big rally

tabas

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Quote from: pereira4 on May 22, 2016, 09:22:59 AM

Fiat will never be worthless, as long as fiat is accepted in most places. In the future, due insane devaluation to keep the system going, it may take 100 dollars to a buy a McDonalds meal, but so what, as long as its accepted, no body will care, because the process is so slow that it takes generations and the new people that's born don't even notice this devaluation process.

So Just buy Bitcoin and retire in 10 years.

I don't think will be worthless it will still used by many people especially for those places who doesn't have innovation of technology. And can't even
touch a single computer and internet.
Even if btc's price would reach $10,000 there are still people who are going to use fiat.

opossum

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Quote from: pereira4 on May 22, 2016, 09:22:59 AM

Fiat will never be worthless, as long as fiat is accepted in most places. In the future, due insane devaluation to keep the system going, it may take 100 dollars to a buy a McDonalds meal, but so what, as long as its accepted, no body will care, because the process is so slow that it takes generations and the new people that's born don't even notice this devaluation process.

So Just buy Bitcoin and retire in 10 years.

There are majority of people who are earning a living on fiat, and we cannot expect that they will stop using it in coming years.

pereira4

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Fiat will never be worthless, as long as fiat is accepted in most places. In the future, due insane devaluation to keep the system going, it may take 100 dollars to a buy a McDonalds meal, but so what, as long as its accepted, no body will care, because the process is so slow that it takes generations and the new people that's born don't even notice this devaluation process.

So Just buy Bitcoin and retire in 10 years.

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