If bitcoin price is $10.000, will fiat be worthless? - page 86.

jt byte

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Quote from: blackmachinegun on February 28, 2016, 04:42:22 AM

$ 10,000 per bitcoin. it's very high mate. I'll make sure it will not happen, imagine $ dollar is the currency most high (besides poundterling). only discount the value 1:10.000 by bitcoin. what about other currencies?
other currency would not be useful

There is no fixed rate was to when or where fiat will become worthless.
Even if bitcoin reached 100k per coin, fiat would still be in existence. Simply because there is demand for it.

Can't find a legit reason to replace fiat btw.

Amph

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Quote from: Fidemoga on February 28, 2016, 03:35:50 AM

Quote from: kacak41 on February 27, 2016, 06:21:56 AM

Quote from: masyari on February 27, 2016, 06:12:41 AM

Quote from: Windpower on February 27, 2016, 05:55:07 AM

No one can tell you an answer to that at this time. You have to wait until it reaches that price to find out.

but we can predict from now. if it happens of course everyone will use bitcoin,then fiat will be worthless

Fiat cannot be worthless in future even the bitcoin reaches to the moon, as we also need many users who starts using bitcoin and also many shops that accepts bitcoin as a mode of payment.

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

basically the contrary of what you see now with fiat and bitcoin, fiat will be a niche market and bitcoin and other crypto a big market

i could see small country starting their own currency but still centralize with the benefit of the blockchain

blackmachinegun

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$ 10,000 per bitcoin. it's very high mate. I'll make sure it will not happen, imagine $ dollar is the currency most high (besides poundterling). only discount the value 1:10.000 by bitcoin. what about other currencies?
other currency would not be useful

Mr. Big

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While my guitar gently weeps!!!

Quote from: Fidemoga on February 28, 2016, 03:35:50 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...

Fidemoga

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Quote from: kacak41 on February 27, 2016, 06:21:56 AM

Quote from: masyari on February 27, 2016, 06:12:41 AM

Quote from: Windpower on February 27, 2016, 05:55:07 AM

No one can tell you an answer to that at this time. You have to wait until it reaches that price to find out.

but we can predict from now. if it happens of course everyone will use bitcoin,then fiat will be worthless

Fiat cannot be worthless in future even the bitcoin reaches to the moon, as we also need many users who starts using bitcoin and also many shops that accepts bitcoin as a mode of payment.

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

kacak41

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Quote from: masyari on February 27, 2016, 06:12:41 AM

Quote from: Windpower on February 27, 2016, 05:55:07 AM

No one can tell you an answer to that at this time. You have to wait until it reaches that price to find out.

but we can predict from now. if it happens of course everyone will use bitcoin,then fiat will be worthless

Fiat cannot be worthless in future even the bitcoin reaches to the moon, as we also need many users who starts using bitcoin and also many shops that accepts bitcoin as a mode of payment.

masyari

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Quote from: Windpower on February 27, 2016, 05:55:07 AM

No one can tell you an answer to that at this time. You have to wait until it reaches that price to find out.

but we can predict from now. if it happens of course everyone will use bitcoin,then fiat will be worthless

Windpower

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No one can tell you an answer to that at this time. You have to wait until it reaches that price to find out.

kartaggen

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Quote from: jokerrj on February 26, 2016, 02:37:27 PM

Fiat would always exist, its not that easy to disappear it, as people are using it since a long period of time, there are many people who will continue to use fiat in future too.

Yes people will use both fiat and bitcoins in future, but the majority of them would be dependent on fiat, as they find it easy and convenient to use.

jokerrj

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Fiat would always exist, its not that easy to disappear it, as people are using it since a long period of time, there are many people who will continue to use fiat in future too.

nickenburg

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But Fiat always will decrease in value, so is our buypower with it.

That is why if you put your money in a savings account with like 2-4% interest.
You will gain money but the value and buypower of your money has decreased.

And Bitcoin it is rare only 21 million people can have 1 bitcoin, so the value will increase cause of it's scarcity.
Compare it to fiat the value will decrease like 6-8% a year

randy8777

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Quote from: reputedchain on February 25, 2016, 10:02:02 PM

Quote from: JAyThaRevo on February 25, 2016, 09:05:36 PM

Quote from: angryrob on February 25, 2016, 08:10:25 PM

I don't see fiat going anywhere even if the value of btc reaches to 1 million people would still continue to use fiat, as there are many people who knows only to use fiat and no other currency.

Yes that is mostly the case with traditional people who believes in using traditional currency and for them accepting bitcoin as a currency is hard to believe.

That's true they don't want to experiment with their money, and we respect their feeling as its their hard earned money and they don't want to loose it simply by investing into something they are not aware about.

the average person only trusts something from the bank or the goverment. these people will most likely never change their mind as banks and goverments don't always talk good about bitcoin as currency. in the news bitcoin is 95% of the times only mentioned when something bad has happened. it's not that surprising that people hold back. they are brainwashed.

panju1

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Quote from: angryrob on February 25, 2016, 08:10:25 PM

I don't see fiat going anywhere even if the value of btc reaches to 1 million people would still continue to use fiat, as there are many people who knows only to use fiat and no other currency.

Government servants will be paid only in fiat. As long as there is government, you can't wish away fiat.
I don't see any nation/government adopting bitcoin as the official currency.

reputedchain

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Quote from: JAyThaRevo on February 25, 2016, 09:05:36 PM

Quote from: angryrob on February 25, 2016, 08:10:25 PM

I don't see fiat going anywhere even if the value of btc reaches to 1 million people would still continue to use fiat, as there are many people who knows only to use fiat and no other currency.

Yes that is mostly the case with traditional people who believes in using traditional currency and for them accepting bitcoin as a currency is hard to believe.

That's true they don't want to experiment with their money, and we respect their feeling as its their hard earned money and they don't want to loose it simply by investing into something they are not aware about.

JAyThaRevo

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Quote from: angryrob on February 25, 2016, 08:10:25 PM

I don't see fiat going anywhere even if the value of btc reaches to 1 million people would still continue to use fiat, as there are many people who knows only to use fiat and no other currency.

Yes that is mostly the case with traditional people who believes in using traditional currency and for them accepting bitcoin as a currency is hard to believe.

angryrob

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I don't see fiat going anywhere even if the value of btc reaches to 1 million people would still continue to use fiat, as there are many people who knows only to use fiat and no other currency.

Mitchow

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Quote from: fruitcommander on February 25, 2016, 06:43:59 PM

Quote from: MTBTT on February 25, 2016, 06:25:47 PM

Quote from: srinikethan on February 19, 2016, 09:53:34 AM

yes of course it will be worthless...as i btc can earn many more if you use it in the right way!!

i think fiat will be not worthless. The price is too high for the currency

Fiat will always rule the world even if the price of bitcoin reaches the moon fiat will continue to show its power as the users of fiat are more and it will keep on increasing in near future too.

I Agree with you and what you said is true that the users of fiat are more in compare to moon and majority of them even don't care about the bitcoin and its value they would continue to use fiat as they are doing it since ages.

fruitcommander

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Quote from: MTBTT on February 25, 2016, 06:25:47 PM

Quote from: srinikethan on February 19, 2016, 09:53:34 AM

yes of course it will be worthless...as i btc can earn many more if you use it in the right way!!

i think fiat will be not worthless. The price is too high for the currency

Fiat will always rule the world even if the price of bitcoin reaches the moon fiat will continue to show its power as the users of fiat are more and it will keep on increasing in near future too.

MTBTT

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Quote from: srinikethan on February 19, 2016, 09:53:34 AM

yes of course it will be worthless...as i btc can earn many more if you use it in the right way!!

i think fiat will be not worthless. The price is too high for the currency

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Quote from: Anddos on February 25, 2016, 05:40:00 PM

Bitcoin will not be reaching $10.000 anytime soon, so don't worry about it.

Yeah and even if it reaches that level, fiat would be still more popular as majority of the people have more faith in fiat and they would continue to use irrespective of the value of bitcoins.

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