If bitcoin price is $10.000, will fiat be worthless? - page 80.

Mr. Big

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Quote from: Nimbulan on March 23, 2016, 11:57:15 AM

Of course fiat will not be worthless then as the price of bitcoin will still be really low I saw some calculations that for bitcoin to change fiat it has to be worth three million dollars each

To be honest it will take a lot of time for bitcoin to make fiat worthless as it's with is still really low and the price rises really slowly

Nice calculation there, $3 million dollar is far from being achieved if that's the right price to make dollar worthless.. and most probably bitcoin's fame is already gone before we can reach that very high price..

makingwin1

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Quote from: virtualx on December 13, 2015, 06:25:39 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?

it will never be useless, because people will always use fiat currency, maybe less in future because of bitcoins and virtual money we will use less of fiat but it still will be in use, i don't think that bitcoin would change fiat money, and if it will, it will take some time

Nimbulan

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Of course fiat will not be worthless then as the price of bitcoin will still be really low I saw some calculations that for bitcoin to change fiat it has to be worth three million dollars each

To be honest it will take a lot of time for bitcoin to make fiat worthless as it's with is still really low and the price rises really slowly

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Quote from: Jmild1 on March 23, 2016, 11:19:08 AM

Quote from: numismatist on March 23, 2016, 06:05:43 AM

Quote from: Betwrong on March 23, 2016, 04:52:50 AM

Exactly. I think many years should pass untill Bitcoin will replace fiat completely (if it ever will). People generally don't like to change their way of life and using Bitcoin is a change, maybe not that big but definitely a change, that's why they don't like it.

Answered No: 86%
Now if these poll results don't show inertia, what else could? And this poll has been done amongst the inner circles of Bitcointalk Wink

But the guy said "if it ever will" meaning he doesn't agree that it will replace fiat because users didn't think bitcoin as a form of money but only as a form of digital currency with a value to sell it to a fiat. So many users are just here to gain bitcoin and convert it to fiat. They don't really use bitcoin as a currency but a way to earn a fiat.

Yeah they are just use bitcoin as their online money and use it to buy stuff or any illegal activity online also gambling is illegal in some country thats why they are using bitcoin to gamble in online..
and i think also its because of people didnt know what is bitcoin just like here i just tell my friends about bitcoin but they are ignorance and they didnt know what is bitcoin so its impossible that bitcoin will be replace fiat...

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Quote from: numismatist on March 23, 2016, 06:05:43 AM

Quote from: Betwrong on March 23, 2016, 04:52:50 AM

Exactly. I think many years should pass untill Bitcoin will replace fiat completely (if it ever will). People generally don't like to change their way of life and using Bitcoin is a change, maybe not that big but definitely a change, that's why they don't like it.

Answered No: 86%
Now if these poll results don't show inertia, what else could? And this poll has been done amongst the inner circles of Bitcointalk Wink

But the guy said "if it ever will" meaning he doesn't agree that it will replace fiat because users didn't think bitcoin as a form of money but only as a form of digital currency with a value to sell it to a fiat. So many users are just here to gain bitcoin and convert it to fiat. They don't really use bitcoin as a currency but a way to earn a fiat.

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Quote from: Betwrong on March 23, 2016, 04:52:50 AM

Exactly. I think many years should pass untill Bitcoin will replace fiat completely (if it ever will). People generally don't like to change their way of life and using Bitcoin is a change, maybe not that big but definitely a change, that's why they don't like it.

Answered No: 86%
Now if these poll results don't show inertia, what else could? And this poll has been done amongst the inner circles of Bitcointalk Wink

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Quote from: bitbunnny on March 23, 2016, 04:42:45 AM

Since you can use Bitcoin debit cards where Bitcoin can be easily changed to any currency there are no obstacles to use it everywhere in the world not thinking about your local currency. Very simple, very convenient.

With various service addition bitcoin usage and the accessibility had got increased. These will make the price to increase but never make fiat worthless.

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Quote from: Jmild1 on March 22, 2016, 06:37:25 PM

A fiat will never be worthless as long as people think this way "I'll sell my bitcoin to fiat when the value of it increase" It will never be worthless if people still give importance to fiat.

Exactly. I think many years should pass untill Bitcoin will replace fiat completely (if it ever will). People generally don't like to change their way of life and using Bitcoin is a change, maybe not that big but definitely a change, that's why they don't like it.

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Since you can use Bitcoin debit cards where Bitcoin can be easily changed to any currency there are no obstacles to use it everywhere in the world not thinking about your local currency. Very simple, very convenient.

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Quote from: upsidedown75 on March 22, 2016, 03:08:33 PM

Quote from: n0ne on March 19, 2016, 01:01:30 PM

Quote from: umaOuma on March 19, 2016, 05:21:17 AM

Fiat will always be in demand and it won't care where bitcoin reaches in the future, people who are comfortable using fiat will use fiat only and not bitcoin.

In whatever way bitcoin is spread, it wont completely reach the entire population. So some don't care of bitcoin, they'll just use the fiat.

The actual fact is that every nation has its own currency and they love their currency and work for its establishment, so they will stay will their currency and will use bitcoin as a side currency.

your reason is also right but I am telling If bitcoin price reach $10000 and we will compare there as currency then for sometime we can think this worthless but you are saying fiat is national fiat and everybody are loving our fiat that is the totally right.

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Quote from: fkvidar on March 19, 2016, 02:14:35 PM

Quote from: n0ne on March 19, 2016, 01:01:30 PM

Quote from: umaOuma on March 19, 2016, 05:21:17 AM

Fiat will always be in demand and it won't care where bitcoin reaches in the future, people who are comfortable using fiat will use fiat only and not bitcoin.

In whatever way bitcoin is spread, it wont completely reach the entire population. So some don't care of bitcoin, they'll just use the fiat.

Yes people who find it easy to use fiat will only use fiat and people who loves bitcoin will use bitcoin but that doesn't mean people will stop using fiat.

Yes, based on there we are spending, people choose their mode of payments. In the local market in a country for a local purchase people like their local fiat to purchase with. I believe for digital and international transaction they adopt bitcoin. In future with bitcoin debit card, we can see people using bitcoin everywhere.

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Quote from: Jmild1 on March 22, 2016, 06:37:25 PM

A fiat will never be worthless as long as people think this way "I'll sell my bitcoin to fiat when the value of it increase" It will never be worthless if people still give importance to fiat.

Lol yaeh if shops and merchants continue to accept fiat and not so many stores that accept bitcoin in terms of steady state like this. however high the price of bitcoin everyone would be still convert bitcoin into fiat
because they have to buy food and so by fiat

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I think it will be worthless but its also that its not see what is coming so maybe it will be the same in the future.
The fact is that it will always be exchangeable to each other.

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Quote from: n691309 on March 22, 2016, 06:40:39 PM

Bitcoin has and will have it own value, the higher the number of coins on the market is the less the price will be increased rapidly, but i don't think that the fiat will be worthless because there are much more fiat money than bitcoin which is limited to max of 21 million coins.

Limiting the value of a bitcoin has a good benefit because it makes the value higher. How? If you have limited resources this will be called as somehow "Unique and precious"

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Bitcoin has and will have it own value, the higher the number of coins on the market is the less the price will be increased rapidly, but i don't think that the fiat will be worthless because there are much more fiat money than bitcoin which is limited to max of 21 million coins.

Jmild1

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A fiat will never be worthless as long as people think this way "I'll sell my bitcoin to fiat when the value of it increase" It will never be worthless if people still give importance to fiat.

techgeek

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Quote from: upsidedown75 on March 22, 2016, 03:08:33 PM

Quote from: n0ne on March 19, 2016, 01:01:30 PM

Quote from: umaOuma on March 19, 2016, 05:21:17 AM

Fiat will always be in demand and it won't care where bitcoin reaches in the future, people who are comfortable using fiat will use fiat only and not bitcoin.

In whatever way bitcoin is spread, it wont completely reach the entire population. So some don't care of bitcoin, they'll just use the fiat.

The actual fact is that every nation has its own currency and they love their currency and work for its establishment, so they will stay will their currency and will use bitcoin as a side currency.

If anything that side currency, is just something they can trade back to other foreign currency.

Which acts more of a debt prevention, since its being universally shown value.

upsidedown75

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Quote from: n0ne on March 19, 2016, 01:01:30 PM

Quote from: umaOuma on March 19, 2016, 05:21:17 AM

Fiat will always be in demand and it won't care where bitcoin reaches in the future, people who are comfortable using fiat will use fiat only and not bitcoin.

In whatever way bitcoin is spread, it wont completely reach the entire population. So some don't care of bitcoin, they'll just use the fiat.

The actual fact is that every nation has its own currency and they love their currency and work for its establishment, so they will stay will their currency and will use bitcoin as a side currency.

agustina2

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No converting to dollars now will happen so definitely if the bitcoin price will reach by $10,000. Dollar will be weak that time and it will only cost a cents in real world. Damn useless. So others will not go into dollar anymore. Now can't make more money now thru exchange trading from usd to btc.

HeroCat

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How can you use BTC in any ATM, if BTC transfer can be for hours or so, the same with online shopping Wink

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