If bitcoin price is $10.000, will fiat be worthless? - page 8.

niall51

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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'm on other side for these statement. Currently, price of bitcoin is up to 7500USD. Well so closer to hit a goal like you meant. I believe bitcoins will hit the price over 10K usd on next year, and another likely no big effect or onr proof bitcoins has used by people and fiat as worthless. But I'm believe that's will be happend

eminemcookie

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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?

No. As long as fiat can be exchanged for goods or other currencies then it will have some worth. Its worth comparable to the dollar will have decreased but it certainly will not be worthless.

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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?

No, because the appraisal for bitcoin is different from fiat currency. Also, fiat is still the most popular and widely used means of transacting. Compared to bitcoin, it is still the market standard used in any transaction, plus more people are still comfortable with using money to pay for anything. The global trading system also gives more premium to money than bitcoin.

Netnox

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Nope... Even if BTC reaches a price of $10K, fiat will still be more valuable than it. If BTC reaches the $10K per coin exchange rate, then the market cap will be around 170 billion USD. Now compare this figure to the market caps of fiat currencies such as EUR and USD, which are around 10 times higher than this amount.

Chooroz

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Quote from: Vuizel on December 07, 2016, 10:36:43 PM

No I do not think it would be worthless because the bitcoin is really depending on it and the fact is that the price is made by it.

As of now that will neve happen that fiat will be worthless, i know that bitcoin is blooming now but for now fiat is more convenience for all people, because even bitcoin price $10,000 that is worthless if not all people will know botcoin, so fiat is more good even bitcoin price will became $10,000 fiat will never be worthless.

Jake Virus

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Quote from: cryptasm on October 26, 2016, 10:55:47 PM

A internet takeover alone would make it easily 30k+ and fiat has trillions of dollars as market cap

I dont think fiat will be worthless, how fiat will be worthless if it is have many function in this world, and even the bitcoin price became $10,000 it will never make fiat worthless because fiat is running for many years in the industry.

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Quote from: nobody- on November 11, 2017, 01:17:50 PM

Quote from: bakunawaaa on November 11, 2017, 01:03:23 PM

This is not a good comparison to fiat. Price has nothing to do with it. It has more to do with availability and reach. As long as btc and crypto cannot reach a certain segment of population, then fiat will continue to exist. In fact a lot of banks are now moving to online transactions and if you think about it having balance in the bank and not having the actual physical cash, is in itself makes fiat somewhat of a virtual currency hybrid also, and of course countries would still want their own unique currency that is accepted locally. Btc being the only currency would mean having one world government, but even then there is no guarantee that another currency would pop up, because as you can see in the crypto world, many ICOs happened already.

Precisely. Even if it reach $100k it won't still replace fiat. It is not about the price. Bicoin's features is still limited compared to what fiat is capable of doing.

Fiat money can never be replaced by bitcoin or other coins, and we don't expect this to happen. If one think this can be real, he's absolutely wrong with his ideas. Fiat is fiat and its position is very sharp in world economics.

nobody-

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Quote from: bakunawaaa on November 11, 2017, 01:03:23 PM

This is not a good comparison to fiat. Price has nothing to do with it. It has more to do with availability and reach. As long as btc and crypto cannot reach a certain segment of population, then fiat will continue to exist. In fact a lot of banks are now moving to online transactions and if you think about it having balance in the bank and not having the actual physical cash, is in itself makes fiat somewhat of a virtual currency hybrid also, and of course countries would still want their own unique currency that is accepted locally. Btc being the only currency would mean having one world government, but even then there is no guarantee that another currency would pop up, because as you can see in the crypto world, many ICOs happened already.

Precisely. Even if it reach $100k it won't still replace fiat. It is not about the price. Bicoin's features is still limited compared to what fiat is capable of doing.

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No of course. Because fiat will still be acceptable. Even if Bitcoin reaches $20,000 as long as government won't be able to support Bitcoin as the medium of exchange, it won't be able to replace fiat.

bakunawaaa

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This is not a good comparison to fiat. Price has nothing to do with it. It has more to do with availability and reach. As long as btc and crypto cannot reach a certain segment of population, then fiat will continue to exist. In fact a lot of banks are now moving to online transactions and if you think about it having balance in the bank and not having the actual physical cash, is in itself makes fiat somewhat of a virtual currency hybrid also, and of course countries would still want their own unique currency that is accepted locally. Btc being the only currency would mean having one world government, but even then there is no guarantee that another currency would pop up, because as you can see in the crypto world, many ICOs happened already.

Dreamchaser21

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Well this post is almost 2year already but as we can see we still need fiat money, and i think fiat will remain no matter what the price of bitcoin. Yes bitcoin and its technology is our future but fiat money will always there to offer more convenient things.

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A big NO. Fiat money will not be worthless and it will be there with cryptocurrency. People all over the world are using fiat money for a long time and as we can see now, bitcoin has been banned in some countries. Even bitcoin's price will reach the 10k mark, fiat money will be still there to be use in the daily lives of the people.

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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?

Ofcourse not! It doesn't mean that it will already be worthless just because Bitcoin will have a high market value. It will still be used by people especially to those who are living in countries where Bitcoin is not yet legal as a currency. So with that, fiat or regular currency will still be used by people since it plays a huge role on t lives of people then and now.

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No way fiat is going to be useless.It is too cocky to assume something like that yet

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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?

Nope. How about you? Grin

We all know that it is undeniable for us the need to still use fiat money in our daily lives. If Bitcoin will reach $10,000 then what would be the transaction fee cost? Are we able to buy or avail goods and services lower than $1 with Bitcoin? Isn't it unfair for us since the transaction fee is way higher than the price of the goods we bought? We still need fiat money whatever the price of Bitcoin will be in the future. But if another hard fork will solve the transaction fee issue then I think we can use Bitcoin to buy a candy. Fiat money could be worthless for the rich individuals because they have the power to decide which investment they want like Gold and Bitcoin but how about for a less fortunate person like me? I know that $10,000 price range is possible to reach or even $50,000 in the near future so that is why it is worth it to buy and hold now while it is still early and before it is too late. Grin

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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?

Fiat will not become worthless but bitcoin will become useless if there is no paper money exist. We are all joining bitcoin investment because we want to earn and to keep lot of paper money. Bitcoin can never replace fiat and make it obsolete except if it will become the world currency in which it is also very impossible to happen.

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Quote from: Ngewex Yuk on November 05, 2017, 10:39:13 PM

Yes right, I'm sure if the price of 1 btc = $ 10,000 then the number of users will continue to increase and the fiat is worthless. this is what all countries feared banned bitcoin.

This is what all we are presuming about the future. No one out of us actually knows what will happen at that very time. There is no point of denying this thing that with each passing day, the number of people who are getting to know about bitcoin is increasing.

This thing is actually an alarming thing for the safe survival of paper money. There are likely chances of this thing to happen but still you can’t be sure about anything.

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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?

Definetly no,fiat would not be worthless because this is our traditional currency since from the generation.as long as the bitcoin is not regulated by the world government the digital currency is still in there position for investment and trading only.but this things happen soon forward if all people and country regulate bitcoin thats the time,that fiat maybe worthless.

Firefox07

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Even if bitcoin will reach $10000 or more fiat will not become worthless. Because fiat is part of our daily life

FancyJuveniIe

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I think no, trigger it's just a crypto currency that rely on fiat, maybe later on if bitcoin will end up popular it'll begin altering something.

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