If bitcoin price is $10.000, will fiat be worthless? - page 9.

mharz

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Quote from: goldcoinminer on November 07, 2017, 01:00:46 AM

Quote from: Agamemnus on November 06, 2017, 04:00:53 PM

To everyone holding Bitcoin and anyone getting into cryptocurrencies it is because they understand that fiat already is worthless. Sure we have to use it every day for our purchases, but that is because we are forced to live in this system. With Bitcoin we now have an option to be part of a whole other system and it is one that is transparent and immutable.

I don't think like that, bitcoin will increase it's value due to it's limited supply but fiat will remain, even if the two will continue to be useful
that would not eliminate the fact that we can still make money by holding bitcoin for a longer period for time.
I am actually a holder and I don't easily sell when my ambitious target will not be hit.

If the bitcoin runs for almost a decades they are possible to happen, because fully trust of people are getting by the coins. But since bitcoin value are runs to community for almost 7-8 years, I think it is not enough to get a lot of trust from people.
Therefore, not all people are known bitcoin or crypto currency some of them are depending on fiat. But I'm looking forward to digital era, because when it comes there's a possibility that fiat will diminish in the market.

goldcoinminer

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Quote from: Agamemnus on November 06, 2017, 04:00:53 PM

To everyone holding Bitcoin and anyone getting into cryptocurrencies it is because they understand that fiat already is worthless. Sure we have to use it every day for our purchases, but that is because we are forced to live in this system. With Bitcoin we now have an option to be part of a whole other system and it is one that is transparent and immutable.

I don't think like that, bitcoin will increase it's value due to it's limited supply but fiat will remain, even if the two will continue to be useful
that would not eliminate the fact that we can still make money by holding bitcoin for a longer period for time.
I am actually a holder and I don't easily sell when my ambitious target will not be hit.

Agamemnus

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To everyone holding Bitcoin and anyone getting into cryptocurrencies it is because they understand that fiat already is worthless. Sure we have to use it every day for our purchases, but that is because we are forced to live in this system. With Bitcoin we now have an option to be part of a whole other system and it is one that is transparent and immutable.

asdlolciterquit

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Quote from: xBitHodler on November 06, 2017, 02:52:41 PM

We are about to reach $10.000 for 1 BTC and we are still far away from replacing fiat. Fiat won't become obsolete that fast. We still have to convince many people that cryptocurrencies are way better than conventional money. A lot of countries have already moved to cashless transactions so it will be easier for people who use only debit or credit cards.

i agree.
Fiat will be worthless only when btc or any other altcoin will be used everyday by most of the population all over the world. And this is not so much connected to btc values...

xBitHodler

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We are about to reach $10.000 for 1 BTC and we are still far away from replacing fiat. Fiat won't become obsolete that fast. We still have to convince many people that cryptocurrencies are way better than conventional money. A lot of countries have already moved to cashless transactions so it will be easier for people who use only debit or credit cards.

ChrisPop

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I wouldn't be so dramatic.. I think fiat currency will still "live" together with bitcoin but slowly we'll see the crypto-currencies replacing fiat. When bitcoin will be over $100,000 we might see fiat currencies dissapear. I think in the next couple of years many countries will start building crypto-currency national reserves which will boost the price a lot.

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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.I don't agree with that statement. Even if Bitcoin's market value became more expensive, it won't make regular currencies worthless especially those currencies from strong countries. It won't happen since it is supprorted by the governments and is legal to most of the countries unlike Bitcoin. Both bitcoin and fiat has different function not only as a currency.

ZENC

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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 I don't agree.They will not work, the governments will find a way to use fiat in their favor.A success for Bitcoin in terms of value in fiat doesn't have to be connected with losing value of fiat.

Britegrafter

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I do not think that this is how it works because bitcoin is an online currency and you cannot compare it to fiat because if that would be the thing than dollars would have been already disappeared or even the euro's.

Harrisonimo

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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?

The fiat and the Cryptocurrency are in two different worlds entirely and with different rules of operation. As much as the bitcoin value increase in the Fiat equivalent, it is like a good news for most persons and means good profit making. So, it is only a perspective saying it makes the fiat currency worthless when it is very much in in use and relevant. The only time the word worthless can come to play is when and if the Cryptocurrency takes over the normal means of exchange of buying and selling.

btc_angela

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How can it be worthless? I can't think of a better situation that we can say that fiat will be worthless because people are getting into bitcoin. If fiat would be worthless then banks should be obsolete as well? But it can't be just as simple as that. And besides they have been with us and its gonna take hundreds of year before we can get rid of them in our society. So my thoughts is that fiat will here to stay together with bitcoins and banks.

Pakboy

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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?

Of course no! Even Fiat currency will never be worthless even bitcoin reach $10,000 per each. It is true that many people are still prefer to use fiat currency than cryptocurrency.

Hatuferu

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Quote from: Elektra_23 on November 06, 2017, 02:56:17 AM

Fiat is worthless now. We just don't recognize it, because we don't know what we would be able to buy with 1 dollar in 1917. And btc would go much higher than 10k.

If it's worthless then we are not using it anymore, fiat just the opposite of bitcoin because the value decrease overtime while bitcoin it's expected
to rise due to the limited supply. However, in terms of practicality, I guess a lot of people are still comfortable with using fiat and that would make fiat
better than bitcoin.

Elektra_23

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Fiat is worthless now. We just don't recognize it, because we don't know what we would be able to buy with 1 dollar in 1917. And btc would go much higher than 10k.

Farma

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soon the bitcoin price will be $ 10000 for 1 bitcoin. worth it or not be prepared, because it will happen soon, although I might predict it will happen next year, probably mid-2018. prepare the bitcoin you have.

Jembut Ireng

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Quote from: Sanitough on November 06, 2017, 12:56:05 AM

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.

That would not be possible, if the users will increase that does not mean it will be majority of the world's population.
We are using fiat now and bitcoin is not that popular as fiat so this will take a longer period of time before they will adopt, but that would not change
the fact that fiat is more powerful that bitcoin and it will never be worthless.

Yes true until the price of 1 btc = $ 1 million, then we still depend on fiat, because the fact is fiat is a legal currency that we can use for transactions and bitcoin there are still many limits to be used legally and directly.

Sanitough

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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.

That would not be possible, if the users will increase that does not mean it will be majority of the world's population.
We are using fiat now and bitcoin is not that popular as fiat so this will take a longer period of time before they will adopt, but that would not change
the fact that fiat is more powerful that bitcoin and it will never be worthless.

Harlot

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Quote from: cryptokitty on November 05, 2017, 11:00:45 PM

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, it will not become worthless because bitcoin has its limited usage even if it reach $10000. Bitcoin price now is $7200 it can reach $10000 before this year end or maybe next year. Bitcoin price continue to increase but it is not yet accepted all over the world, so it means fiat will not become worthless as of this time.

I have to agree with cryptokitty's statement here as the fiat currency having no value will also make Bitcoin and other cryptocurrencies valueless as their value is based on fiat currency. Even if Bitcoin is worth 7500$ and the value of 1$ is nothing Bitcoin will also be valueless. Nonetheless Fiat Currency is the legal tender of a country its value is based on the economy of a country, having Bitcoin reach 10,000$ will not affect the price of Fiat currency as it is not even a factor that can affect the its price.

cryptokitty

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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, it will not become worthless because bitcoin has its limited usage even if it reach $10000. Bitcoin price now is $7200 it can reach $10000 before this year end or maybe next year. Bitcoin price continue to increase but it is not yet accepted all over the world, so it means fiat will not become worthless as of this time.

Sand King

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I think fiat will never be worthless in this world, fiat money has a many purpose for all people and it is part of the daily need of all people, And even the bitcoin price will be $10,000 it will never means that fiat will be worthless, it is very nice if the bitcoin price will be $10,000, and i will very sure that there more people will try bitcoin if that will happen.

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