If bitcoin price is $10.000, will fiat be worthless? - page 78.

mirana12345

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Quote from: richardsNY on April 26, 2016, 03:08:52 PM

Quote from: ashiba on April 26, 2016, 02:57:44 PM

no matter how much btc price go up .. Fiat will be remain as main currency.

That's correct. I wish more people will understand this, but looking through the comments some people still believe Bitcoin can replace fiat money. They need to wake up.

Noone is saying that it will replace all fiat money, but that it could replace it for those that choose not to use it . e.g. when you start having the option to buy everything
you need with bitcoins. I don't see why this comes as a surprise to you, especially when bitcoin is pretty easy to integrate into services/stores/etc.

popovicbit

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If fiat or paper money was pegged to the value of btc or another crypto currencies does it cease being fiat?

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Quote from: ashiba on April 26, 2016, 02:57:44 PM

no matter how much btc price go up .. Fiat will be remain as main currency.

That's correct. I wish more people will understand this, but looking through the comments some people still believe Bitcoin can replace fiat money. They need to wake up.

ashiba

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no matter how much btc price go up .. Fiat will be remain as main currency.

Bettwarm

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The fiat and the bitcoin will coexist for long time. Even if the bitcoin is $1 million, there will be plenty of fiat around.

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Quote from: davinchi on April 18, 2016, 02:18:52 AM

Quote from: richardsNY on April 14, 2016, 03:16:07 PM

Quote from: ?? on ??

fiat worhtless?its never happen,even bitcoin reach $10,000 and its not make fiat worthless,he only way to make fiat worhtless s worl war and maybe doomsday.

It doesn't matter what value Bitcoin is at. Fiat will always be the main currency for people to use. That will most likely never change. Bitcoin is only an alternative, and that's it.

Fiat has a lot of trust among people and this trust that will keep Fiat alive for a long time. But, for the younger generation digital currency has always a charm and they will be the one adopting to this quickly. This will definitely will make dollars in peril.

Well as you say that fiat has been trusted by many people and will still be trusted by people,dollar is also trusted by people around the world so there will be now peril in dollar,bitcoin still have low amount of users worldwide.

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Quote from: richardsNY on April 14, 2016, 03:16:07 PM

Quote from: ?? on ??

fiat worhtless?its never happen,even bitcoin reach $10,000 and its not make fiat worthless,he only way to make fiat worhtless s worl war and maybe doomsday.

It doesn't matter what value Bitcoin is at. Fiat will always be the main currency for people to use. That will most likely never change. Bitcoin is only an alternative, and that's it.

Fiat has a lot of trust among people and this trust that will keep Fiat alive for a long time. But, for the younger generation digital currency has always a charm and they will be the one adopting to this quickly. This will definitely will make dollars in peril.

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Quote from: dollarneed on April 17, 2016, 05:58:27 PM

the possibility for fiat to be worthless is high sooner or later it will be worthless but it couldn't be collapse , but the most important is we've got crypto that has intrinsic value, government has ultimate control and regulation to make their fiat still alive, look at the zimbabwean dollars, zimbabwean dollar was so worthless, but people still use it no matter it's hyperinflation

It might never be worthless in the way we think of it, it might just be like, as you said, a form of hyper inflation and there will just be large denominations with less overall purchasing power.

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the possibility for fiat to be worthless is high sooner or later it will be worthless but it couldn't be collapse , but the most important is we've got crypto that has intrinsic value, government has ultimate control and regulation to make their fiat still alive, look at the zimbabwean dollars, zimbabwean dollar was so worthless, but people still use it no matter it's hyperinflation

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Quote from: lister storm on April 17, 2016, 02:07:03 PM

Quote from: chaosknight on April 17, 2016, 01:02:00 PM

Quote from: Vaskiy on April 17, 2016, 12:23:38 PM

Quote from: matete on April 17, 2016, 11:53:59 AM

Fiat will never be worthless even if the price of bitcoin skyrockets to $10,000. Money fiat will be very important because it is used as a base currency for the bitcoin. As times change, the worth of currency also changes.Therefore, bitcoin will never affect it's worth.

Bitcoin depends upon fiat for many reasons, but fiat is independent of bitcoin, so we can conclude that the price of bitcoin whether rise or fall never affect fiat and it can't make fiat worthless.

You are living in a dream why no one wants to accept the reality? Its struggling to reach $500 since long time and you are expecting $10k value in future, believe in facts and figures, stop day dreaming.

Yes and I think we will be always dependent on fiat unless we don't find many shops to spend bitcoin directly and we always need to convert it to fiat and spend it.

we wont be always dependent on fiat for sure because in the future i think that bitcoin will have potential to replace fiat for sure and it will allow people to shop with bitcoins in the future for sure

fiat wouldnt be worthless if bitcoin grew to 10 thousand dollars only but if it goes to at least 100 thousand dollars each the the price of fiat might start falling at a very fast rate

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Quote from: chaosknight on April 17, 2016, 01:02:00 PM

Quote from: Vaskiy on April 17, 2016, 12:23:38 PM

Quote from: matete on April 17, 2016, 11:53:59 AM

Fiat will never be worthless even if the price of bitcoin skyrockets to $10,000. Money fiat will be very important because it is used as a base currency for the bitcoin. As times change, the worth of currency also changes.Therefore, bitcoin will never affect it's worth.

Bitcoin depends upon fiat for many reasons, but fiat is independent of bitcoin, so we can conclude that the price of bitcoin whether rise or fall never affect fiat and it can't make fiat worthless.

Yes and I think we will be always dependent on fiat unless we don't find many shops to spend bitcoin directly and we always need to convert it to fiat and spend it.

we wont be always dependent on fiat for sure because in the future i think that bitcoin will have potential to replace fiat for sure and it will allow people to shop with bitcoins in the future for sure

fiat wouldnt be worthless if bitcoin grew to 10 thousand dollars only but if it goes to at least 100 thousand dollars each the the price of fiat might start falling at a very fast rate

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Quote from: Vaskiy on April 17, 2016, 12:23:38 PM

Quote from: matete on April 17, 2016, 11:53:59 AM

Fiat will never be worthless even if the price of bitcoin skyrockets to $10,000. Money fiat will be very important because it is used as a base currency for the bitcoin. As times change, the worth of currency also changes.Therefore, bitcoin will never affect it's worth.

Bitcoin depends upon fiat for many reasons, but fiat is independent of bitcoin, so we can conclude that the price of bitcoin whether rise or fall never affect fiat and it can't make fiat worthless.

Yes and I think we will be always dependent on fiat unless we don't find many shops to spend bitcoin directly and we always need to convert it to fiat and spend it.

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Quote from: matete on April 17, 2016, 11:53:59 AM

Fiat will never be worthless even if the price of bitcoin skyrockets to $10,000. Money fiat will be very important because it is used as a base currency for the bitcoin. As times change, the worth of currency also changes.Therefore, bitcoin will never affect it's worth.

Bitcoin depends upon fiat for many reasons, but fiat is independent of bitcoin, so we can conclude that the price of bitcoin whether rise or fall never affect fiat and it can't make fiat worthless.

matete

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Fiat will never be worthless even if the price of bitcoin skyrockets to $10,000. Money fiat will be very important because it is used as a base currency for the bitcoin. As times change, the worth of currency also changes.Therefore, bitcoin will never affect it's worth.

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Quote from: BitcoinPaw on April 16, 2016, 07:59:21 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.

i dont think it will be worthless as all people wouldnt still go all in with bitcoins they would still have some paper money as new technologies cant spread that fast in my opinion only after a few decades usual cash will go extinct and will be replaced by bitcoins.

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Quote from: BitcoinPaw on April 16, 2016, 07:59:21 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.

People only trusts something from the bank or the goverment, will most likely never change their mind as banks and goverments don't always talk good about bitcoin as currency. i think in 5years, bitcoin still far from $10.000

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

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Quote from: BTCBinary on April 14, 2016, 04:28:12 PM

if bitcoin gets to $10 000 I guess there will be a new arms race to mining. As for Fiat, what I think is that in that kind of situation everyone would be fighting to get some bitcoins.

Agreed, if price goes on high as quoted surely there would be a big competence between miners. I believe some big corporates too will engage in mining activities to increase their profit.

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Quote from: richardsNY on April 14, 2016, 03:16:07 PM

Quote from: ?? on ??

fiat worhtless?its never happen,even bitcoin reach $10,000 and its not make fiat worthless,he only way to make fiat worhtless s worl war and maybe doomsday.

It doesn't matter what value Bitcoin is at. Fiat will always be the main currency for people to use. That will most likely never change. Bitcoin is only an alternative, and that's it.

Fiat is for those who has shares in this or the Govt people, who want to control the currency and want to put taxes to people etc. Other than that, Fiat is over for me in next 5 years

rababo

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If bitcoin reach $10.000, I doubt that people will make fiat so worthless.
If fiat would be worthless what will happen with the price of bitcoin then. I wouldn't be sure about that the fiat would be worthless.

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