If bitcoin price is $10.000, will fiat be worthless? - page 76.

tabas

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Quote from: intrader on May 14, 2016, 01:53:40 AM

No matter how strong bitcoin prices is people still need fiat to turn into real money how come fiat be worthless Wink

Fiat will not be worthless, it will still be worth even though bitcoin's price will rise higher and higher. Fiat is more essentially in buying goods and basic necessity that we need. And people used to it rather than using bitcoins.

intrader

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No matter how strong bitcoin prices is people still need fiat to turn into real money how come fiat be worthless Wink

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Quote from: fkvidar on May 10, 2016, 12:36:06 PM

I don't think that's gonna happen in future, and if it reaches to that value then many people would still continue to convert it to fiat to hold more amount of fiat.

bitcoin does not change anything about fiat. it was clear everyone was still convert to fiat, because fiat money is legal and is under government.

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I don't think that's gonna happen in future, and if it reaches to that value then many people would still continue to convert it to fiat to hold more amount of fiat.

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I agree with you! Bitcoin is not going to replace fiat in total, just because there is a technical hurdle for the most people. Even when there will created super user-friendly wallets, there will always be the risk of loss through hackers. If your bank got hacked then you will get it replaced by the bank.
But I do not check how a government would assure to control a Bitcoin ban. In my opinion, this is nearly impossible.

Quote from: Herbert2020 on April 30, 2016, 02:48:37 AM

bitcoin is not going to kill fiat, even if it becomes that expensive like 10,000 USD for one bitcoin this doesn't mean that fiat is going to disappear, the government will never let this happen because no paper money means no control for them, because they are printing it.

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Quote from: n0ne on April 30, 2016, 02:50:55 AM

If each and every country accepts bitcoin, then fiat might go worthless if bitcoin rise to such a huge amount which is unreachable in a short or a limited term.

That could be true. I think the fiat usage will reduce in the future. Bitcoin will be a universal currency in a few decades.

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If each and every country accepts bitcoin, then fiat might go worthless if bitcoin rise to such a huge amount which is unreachable in a short or a limited term.

Herbert2020

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bitcoin is not going to kill fiat, even if it becomes that expensive like 10,000 USD for one bitcoin this doesn't mean that fiat is going to disappear, the government will never let this happen because no paper money means no control for them, because they are printing it.

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Quote from: Mumbeeptind1963 on April 29, 2016, 05:57:03 PM

Fiat money will not be worthless if bitcoin price is $10000 because we need that money in our daily lives in our own country. Because not all people using bitcoin so i think fiat will not be worthless.

That's right... mostly, people are dependent on fiat on our daily transactions...Bitcoin is only known online and being talked about by few...Even if the price of bitcoin goes $10,000, we are the only one who knows and who benefit from it, not ordinary people with no knowledge about bitcoin...

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Fiat money will not be worthless if bitcoin price is $10000 because we need that money in our daily lives in our own country. Because not all people using bitcoin so i think fiat will not be worthless.

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Some countries export and have no debt, if this is the case then even if its fiat their currency will retain worth no matter what as its linked to their ongoing trade and demand is equal for the goods and credit to pay for them which is fiat. What might change is whats accepted in return for goods, so it'll be gold, solid goods wanted as much in exchange and yea we expect bitcoin and I cant see why not certainly at a higher price then now

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Quote from: chaser15 on April 27, 2016, 05:38:03 AM

Quote from: Scream on April 27, 2016, 04:53:10 AM

Quote from: betohell on April 27, 2016, 04:35:24 AM

Quote from: BitcoinPaw on April 16, 2016, 08:59:21 PM

Bitcoin is depending on fiat but fiat is not depend on bitcoin so fiat will not be worthless with any bitcoin price i guess.

totally agree with you. view current bitcoin prices rocketed to $ 1,200. but bitcoin does not give much of an effect on the dollar or fiat. This may be the same if bitcoin reach $ 10k

yes bitcoin will not bring any impact on fiat, because bitcoin only virtual money. not under the government or as a legal currency. even if it reaches $100k

It has. The exchange rate between fiat to virtual money has a factor to change the momentum of inflation.

If we will look into economic term, if bitcoin will reach $10,000 it will affect the current number of reserve fiats.

The first thing which I think it will not bring any change in the price of fiat and if it altered the price of fiat then it will be only a small fraction and will not ever make the fiat worthless, the fiat will have its good value and will have the support of its nations.

JeanMcCoy

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On the first hand Bitcoin will never reach that value and we have to be realistic and not dream because this is all wasted time if we talk about that it will reach the $10,000 so stop it also.
And no Fiat will be not worthless if that is going to happen but first you must let it happen and than we all can talk futher, the price is not even rise in the halving now.

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Quote from: ultimatesky on April 29, 2016, 09:27:00 AM

Quote from: aleandromagno on April 29, 2016, 08:43:20 AM

Quote from: hendra147 on April 29, 2016, 03:57:52 AM

Quote from: Newcoins2020 on April 28, 2016, 09:31:58 AM

Quote from: hendra147 on April 28, 2016, 08:35:08 AM

I do not agree, regardless of the price of bitcoin, even if it reaches $1m that there will be no effect on fiat. because fiat is money that is legal, while bitcoin only virtual currency.

Fiat being legal has nothing to do with it, Since bitcoin isn't illegal. but i do agree with you that bitcoin will not be replacing fiat, i hardly doubt anything can replace fiat to be honest.I
It's too important in our daily life.

it is clear, no one will be able to replace fiat, because each country has patented their currencies. but bitcoin could be an alternative. if in the future, bitcoin already be used as legal payment.

Paper money for a long time are not effective .. It's only a matter of time until they are replaced entirely by plastic cards and Bitcoin.

I'm also thinking its a matter of time but it will take some time for sure, and I even think it will take a long time to achieve this to be honest.
Most likely this will happen in about 10 years or something.

i would say it will take at least another 20 to 30 years before the usage of cash money gets to such a low level where it will get replaced eventually.

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Quote from: ultimatesky on April 29, 2016, 09:27:00 AM

Quote from: aleandromagno on April 29, 2016, 08:43:20 AM

Quote from: hendra147 on April 29, 2016, 03:57:52 AM

Quote from: Newcoins2020 on April 28, 2016, 09:31:58 AM

Quote from: hendra147 on April 28, 2016, 08:35:08 AM

I do not agree, regardless of the price of bitcoin, even if it reaches $1m that there will be no effect on fiat. because fiat is money that is legal, while bitcoin only virtual currency.

Fiat being legal has nothing to do with it, Since bitcoin isn't illegal. but i do agree with you that bitcoin will not be replacing fiat, i hardly doubt anything can replace fiat to be honest.I
It's too important in our daily life.

it is clear, no one will be able to replace fiat, because each country has patented their currencies. but bitcoin could be an alternative. if in the future, bitcoin already be used as legal payment.

Paper money for a long time are not effective .. It's only a matter of time until they are replaced entirely by plastic cards and Bitcoin.

I'm also thinking its a matter of time but it will take some time for sure, and I even think it will take a long time to achieve this to be honest.
Most likely this will happen in about 10 years or something.

It may take even more than 10 years, anyway, sooner or later it will happen .. technology is developing so fast that it is unstoppable!

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Quote from: aleandromagno on April 29, 2016, 08:43:20 AM

Quote from: hendra147 on April 29, 2016, 03:57:52 AM

Quote from: Newcoins2020 on April 28, 2016, 09:31:58 AM

Quote from: hendra147 on April 28, 2016, 08:35:08 AM

I do not agree, regardless of the price of bitcoin, even if it reaches $1m that there will be no effect on fiat. because fiat is money that is legal, while bitcoin only virtual currency.

Fiat being legal has nothing to do with it, Since bitcoin isn't illegal. but i do agree with you that bitcoin will not be replacing fiat, i hardly doubt anything can replace fiat to be honest.I
It's too important in our daily life.

it is clear, no one will be able to replace fiat, because each country has patented their currencies. but bitcoin could be an alternative. if in the future, bitcoin already be used as legal payment.

Paper money for a long time are not effective .. It's only a matter of time until they are replaced entirely by plastic cards and Bitcoin.

I'm also thinking its a matter of time but it will take some time for sure, and I even think it will take a long time to achieve this to be honest.
Most likely this will happen in about 10 years or something.

aleandromagno

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Quote from: hendra147 on April 29, 2016, 03:57:52 AM

Quote from: Newcoins2020 on April 28, 2016, 09:31:58 AM

Quote from: hendra147 on April 28, 2016, 08:35:08 AM

I do not agree, regardless of the price of bitcoin, even if it reaches $1m that there will be no effect on fiat. because fiat is money that is legal, while bitcoin only virtual currency.

Fiat being legal has nothing to do with it, Since bitcoin isn't illegal. but i do agree with you that bitcoin will not be replacing fiat, i hardly doubt anything can replace fiat to be honest.I
It's too important in our daily life.

it is clear, no one will be able to replace fiat, because each country has patented their currencies. but bitcoin could be an alternative. if in the future, bitcoin already be used as legal payment.

Paper money for a long time are not effective .. It's only a matter of time until they are replaced entirely by plastic cards and Bitcoin.

hendra147

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Quote from: Newcoins2020 on April 28, 2016, 09:31:58 AM

Quote from: hendra147 on April 28, 2016, 08:35:08 AM

I do not agree, regardless of the price of bitcoin, even if it reaches $1m that there will be no effect on fiat. because fiat is money that is legal, while bitcoin only virtual currency.

Fiat being legal has nothing to do with it, Since bitcoin isn't illegal. but i do agree with you that bitcoin will not be replacing fiat, i hardly doubt anything can replace fiat to be honest.I
It's too important in our daily life.

it is clear, no one will be able to replace fiat, because each country has patented their currencies. but bitcoin could be an alternative. if in the future, bitcoin already be used as legal payment.

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Quote from: betohell on April 27, 2016, 04:35:24 AM

Quote from: BitcoinPaw on April 16, 2016, 08:59:21 PM

Bitcoin is depending on fiat but fiat is not depend on bitcoin so fiat will not be worthless with any bitcoin price i guess.

totally agree with you. view current bitcoin prices rocketed to $ 1,200. but bitcoin does not give much of an effect on the dollar or fiat. This may be the same if bitcoin reach $ 10k

Bitcoin and dollar are both currencies and they both have their own values so none of them is dependent in its value on the value of the other one, it is only the estimation price of both the currencies and not their standards.

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Quote from: jamesl22 on April 27, 2016, 12:55:52 PM

Fiat will never worthless but if bitcoin reach $10000 and get adopted by major merchants then it will become a global currency and a alternate to fiat that is easy to take anywhere but replacing fiat is impossible.

yeah i'm also think like that,fiat will always lead the currency in this world,no matter how high bitcoin price,fiat will not worthless.
the only thing make fiat worthles is world war,its when we are dont need money anymore.

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