If bitcoin price is $10.000, will fiat be worthless? - page 85.

Amph

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Quote from: Bettwarm on February 29, 2016, 05:10:18 AM

Quote from: Amph on February 29, 2016, 04:29:12 AM

Quote from: Cryptock on February 28, 2016, 08:29:59 PM

I can't even imagine a world with 1 btc - $10,000

only 20 more than what it is now, it's not like we did not see an increase of 25x in the past(2011-2012)

If the price double every two years, we just need 9 years to see the price of $10,000. I think we will see it before 2025.

we can see it as unstable value much early than 2025, and as a stable value probably with the next halving already(2020)

nickenburg

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I see a lot of people saying here fiat will never be gone.

And that is what I hear from people around me in real life to, but why is that I think?

Why do you think it will always exist, I think there will always be a way like this.

But it can also be in a different/better format like bitcoin.

You all know the economy is not doing well at all, and people are even saying the next recession is going to come.

There is going to be a day when fiat really becomes worthless, think about it.

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Quote from: Newmba on February 29, 2016, 06:56:12 AM

to who? fiat money is still best money, Bitcoin enthusiasts need to be realist when it comes to the future of the currency (rather than the technology), you can't replace any fiat money with Bitcoin as of now

You got the point there. Many here just bitcoin they are earnings bitcoins think that this is enough to replace the powerful fiat.

Without fiat, bitcoin is nothing.

Newmba

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to who? fiat money is still best money, Bitcoin enthusiasts need to be realist when it comes to the future of the currency (rather than the technology), you can't replace any fiat money with Bitcoin as of now

xuan87

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no i dont think so, fiat will always be worthful, bitcoin is just a sub currency not a main currency, so whatever bitcoin price become it will not affect the fiat, its only going to effect the person who own bitcoin

Bettwarm

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Quote from: Amph on February 29, 2016, 04:29:12 AM

Quote from: Cryptock on February 28, 2016, 08:29:59 PM

I can't even imagine a world with 1 btc - $10,000

only 20 more than what it is now, it's not like we did not see an increase of 25x in the past(2011-2012)

If the price double every two years, we just need 9 years to see the price of $10,000. I think we will see it before 2025.

Amph

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Quote from: Cryptock on February 28, 2016, 08:29:59 PM

I can't even imagine a world with 1 btc - $10,000

only 20 more than what it is now, it's not like we did not see an increase of 25x in the past(2011-2012)

Quote from: Hugroll on February 28, 2016, 08:36:49 PM

lol the value of bitcoin doesnt make fiat worthless. the functionality at some point might. but the value changing just changes the denominations of bitcoin that would be regularly traded.

well it depend, if bitcoin will grow really big many fiat currency will be worthless indeed, but not at 10k per coin, you need 1M per coin, for this

Hugroll

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lol the value of bitcoin doesnt make fiat worthless. the functionality at some point might. but the value changing just changes the denominations of bitcoin that would be regularly traded.

Cryptock

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I can't even imagine a world with 1 btc - $10,000

ctlaltdefeat

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Quote from: Invulner on February 28, 2016, 07:42:07 PM

Fiat will obviously still have some value, it's not really worthless.

But by then the world economy will be going through hyper-inflation.

bitcoin will never make fiat money, it's too naive if we say fiat will be worthless.
people will still need fiat money print, not digital money like bitcoin. the problem when bitcoin hit $10,000, bitcoin price would remain go up? even there is a lot of holder have sold their bitcoin? and it even could make bitcoin worthless in the end?

Invulner

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Invulner

Fiat will obviously still have some value, it's not really worthless.

But by then the world economy will be going through hyper-inflation.

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Quote from: phibay on February 28, 2016, 02:58:19 PM

i don't think so. fiat is fiat and bitcoin is bitcoin. bitcoin won't replace fiat either but bitcoin do have a great future, still fiat is there and still usable

Yeah agree with you.
bitcoin can use to payment option, they stand together, mutual benefit, it is better

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Quote from: Zaun on February 28, 2016, 02:55:14 PM

Nothing can make fiat dissapear.
Not bitcoin, not creditcard or even the banks.
People need fiat because many shops make it convenient to pay with fiat.

if the bitcoin users has exceeded 50% of the total world population. certainly a lot of people do not need fiat. to shop

praprata

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Quote from: phibay on February 28, 2016, 02:58:19 PM

i don't think so. fiat is fiat and bitcoin is bitcoin. bitcoin won't replace fiat either but bitcoin do have a great future, still fiat is there and still usable

Yeah those are quite seperate things and not exchangeable.
Perhaps bitcoin can challenge the usage of fiat but in no way is it a direct competitor.

phibay

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i don't think so. fiat is fiat and bitcoin is bitcoin. bitcoin won't replace fiat either but bitcoin do have a great future, still fiat is there and still usable

Zaun

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Forza Roma

Nothing can make fiat dissapear.
Not bitcoin, not creditcard or even the banks.
People need fiat because many shops make it convenient to pay with fiat.

greBit

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Quote from: socks435 on February 28, 2016, 12:51:03 PM

Quote from: qiwoman2 on February 28, 2016, 11:58:45 AM

I can't see fiat dying in the short term but it might be replaced with digital fiat. Governments and banks will always want to have the huge slice of the pie but I do believe Bitcoin is paving the way for alternative assets and currencies to have a prominent place in people's lives as we move forward and advance technologically.

No it will not happen in the future fiat is always fiat and fiat is our main money that we use in so many years..
Fiat is not worthless because we need a physical money unlike bitcoin is just a part of technology that you can generate bitcoin via mining..
Is just like the same as gold that we need to mine but the difference bitcoin is online and gold can be mine in some countries..

I agree that bitcoin can never replace fiat currency because bitcoin will never be accepted as local currency of any country unless a new country is created but bitcoin will surely overtake these credit cards and other digital currencies but cannot replace fiat currency but the good news for bitcoin users is that bitcoin is getting stability now a days.

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Quote from: qiwoman2 on February 28, 2016, 11:58:45 AM

I can't see fiat dying in the short term but it might be replaced with digital fiat. Governments and banks will always want to have the huge slice of the pie but I do believe Bitcoin is paving the way for alternative assets and currencies to have a prominent place in people's lives as we move forward and advance technologically.

No it will not happen in the future fiat is always fiat and fiat is our main money that we use in so many years..
Fiat is not worthless because we need a physical money unlike bitcoin is just a part of technology that you can generate bitcoin via mining..
Is just like the same as gold that we need to mine but the difference bitcoin is online and gold can be mine in some countries..

qiwoman2

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I can't see fiat dying in the short term but it might be replaced with digital fiat. Governments and banks will always want to have the huge slice of the pie but I do believe Bitcoin is paving the way for alternative assets and currencies to have a prominent place in people's lives as we move forward and advance technologically.

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Quote from: Mr. Big on February 28, 2016, 04:45:56 AM

Quote from: Fidemoga on February 28, 2016, 04:35:50 AM

If the bitcoin and other digital currencies are really useful, the use of fiat will be less and less. They might still exist.

Fiat won't be gone, that's for sure, won't it be cool and good to see if we see integration between fiat and digital currency/bitcoin? I think that would be very cool to see a market vendor accepting fiat and at the same time accepting bitcoin as an alternative payment... smile emotikon

but with a high price, it certainly will not be able to survive fiat against bitcoin, everyone will be using bitcoin, we would be happy if they could share. bitcoin payment option of fiat it better. moreover the price of $ 10k/btc will not happen ‪#‎imo‬

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