Nah bitcoin will be always the second best of all the currency I think.
The fiat money is always have been using a long time a go so I doubt that it will be useless later.
Topic: If bitcoin price is $10.000, will fiat be worthless? - page 93. (Read 145059 times)
In the future, fiat is still the choice of government as they can print the money as necessary to pay the state debt.
No. Fiat will have some worth. Bitcoin's market cap will have to be the same as the dollar's total value or more, meaning something like all the 21 million bitcoin adding up to a couple hundred trillion, aka ~10 million a coin.
Fiat will never ever become worthless in our lifetime circle even if bitcoin worth a million. There are too many places on this planet where you could stick your coins into your butt 
Take for example Balkans, Middle East and Africa. If you want to eat in big cities you MAY be OK with bitcoins. Now move away more than 50km in radius
Take for example Balkans, Middle East and Africa. If you want to eat in big cities you MAY be OK with bitcoins. Now move away more than 50km in radius of course not in order for fiat to be worthless bitcoin has to completely replace it
Or when fiat is getting replaced by an other Bitcoin like digital currency released by the governments. It will be something where they still maintain with full authority over everything. They don't want to lose control. That will happen once Bitcoin takes over.
Fiat become worthless if all the people realized the true nature of its value (cost nothing to create thus should worth nothing), but I guess majority of human are illiterate when it comes to money creation, so it could take some decades before the knowledge has been largely spread and debated, currently maybe less than 1% people know the truth
The video The Biggest Scam In The History Of Mankind has 4.4 million views and I guess only 1 million reader believe what it says , and the people who really understand it will be much less[/b]
The video The Biggest Scam In The History Of Mankind has 4.4 million views and I guess only 1 million reader believe what it says , and the people who really understand it will be much less[/b]
Funny that you mention this video.I also watch Mike Maloney's videos and the history of money series are his most viewed ones.
I showed "The biggest scam in the history of mankind" to so many people who have a financial or economical background and believe it or not, more than half of them asked me if that is really the truth because they can not believe it! This is not what they learned during apprentice ship or in schools. Very often people just get taught what they have to know, and not what they should know!This system starts already to fool us and our children in the schools!!
I tried the same to some people with economy degrees and they don't understand it at all. They have been fed up with all lower level details like supply demand curve and quantitative theory of money supply. FRB is the highest level knowledge they have regarding money creation. You have to see from the money creator's point of view to see the truth, which most of the bitcoin miners are. But for most of those economists, they don't even think about that for the entire of their life
i dont know about others but i dont think it will happen because we are still comparing the bitcoin price with the faint currency so its some where the faint value which is keeping the bitcoin value alive ..if there is no faint then on what scale we can mesure bitcoin i mean a product should be sold for a cost like a candy for 1cent so if there will be no dollars or any other faint currency then how we will know that how much bitcoins we have to pay to buy a candy.so no matter how much big the price goes but the bitcoins are still nothing without faint currency
Gold's value is decided by it's mining cost, the competition will make sure that each gold miner will only be able to sell the gold a little bit above its production cost
Similarly, without fiat money, bitcoin's value will be based on its mining cost, which can also be approximated by the value of chip/electricity used in average
of course not in order for fiat to be worthless bitcoin has to completely replace it
when all bitcoins will be mained then price of bitcoin will be not 10 000$ , 100 000$ . just save your bitcoins 
No, what kind of perspective is it? I don't really understand. If Bitcoin price rise that means devaluing of national currencies but their worth is coming from government power and forces. If you don't destroy all governments in the world then you ca't destroy fiat money. Fiat money will always be and used as long as nations hold their government and country rules.
The rise in the value of Bitcoin would not necessarily mean the devaluing of currencies by governments, it can simply be that more people are interested in investing or utilizing Bitcoin, and the increased demand is driving up the price. This can happen for a number of reason, the devaluing of currency is just one scenario.Fiat money can theoretically be destroyed, all it would require is the movement back to commodity-backed currencies. Which is more unlikely than likely at this point.
Fiat is fiat. For now nothing can replace it.
well not true, you can replace it already at least partially , there are some services that offer you to pay in bitcoin, to receive what you want
No, what kind of perspective is it? I don't really understand. If Bitcoin price rise that means devaluing of national currencies but their worth is coming from government power and forces. If you don't destroy all governments in the world then you ca't destroy fiat money. Fiat money will always be and used as long as nations hold their government and country rules.
Dumping bitcoin will still be beneficial.
My answer is no as well.It is fiat which set the value of Bitcoin up and makes it worth to buy and invest in it.With other words Bitcoin is backed by fiat so It can reach to 100,000 $ then too fiat will have its own importance just like before.
Both Bitcoin and fiat will go ahead parallel in future.Fiat is something which will never be worthless it doesn't matter come ahead.There different kind of users and everyone has different needs so one for online as digital currency and other physical successfully can go in co-existent.
no
study the history of the talley stick in england
the king used wooden sticks for 'money' and 'required' you pay your tax with them
so ..... since you had to use this form of currency to pay tax
it always kept value
i would expect most nations to keep their currency as the required medium to pay tax
this keeps the scam of the worthless paper that has to be purchased from a private corporation and can be printed up at will alive, and also dilutes the ability to use better currencies/systems
......when there were "economic problems" during the administration of FDR in the U.S. it was illegal to use foreign currency and the govt. confiscated gold in excess of a few ounces.
These laws stayed on the books for years.
Given that the introduction of socialism to the US has diluted the perception of our economic state I wonder about the future. For example food stamps. During the depression people went hungry or went to soup kitchens. At one point just over 30% of the population was getting help this way.
Today in America over 50% of the population is reliant on the government for food stamps and may starve without this. Worse than the great depression.
I won't get into a discussion of how the unemployment statistics are manipulated now.....
They go away from the topic at hand..............
But these facts are background to prove that it will be a long long time and maybe never before btc or any similar thing fully replaces traditional money --------- whether we like that or not.
study the history of the talley stick in england
the king used wooden sticks for 'money' and 'required' you pay your tax with them
so ..... since you had to use this form of currency to pay tax
it always kept value
i would expect most nations to keep their currency as the required medium to pay tax
this keeps the scam of the worthless paper that has to be purchased from a private corporation and can be printed up at will alive, and also dilutes the ability to use better currencies/systems
......when there were "economic problems" during the administration of FDR in the U.S. it was illegal to use foreign currency and the govt. confiscated gold in excess of a few ounces.
These laws stayed on the books for years.
Given that the introduction of socialism to the US has diluted the perception of our economic state I wonder about the future. For example food stamps. During the depression people went hungry or went to soup kitchens. At one point just over 30% of the population was getting help this way.
Today in America over 50% of the population is reliant on the government for food stamps and may starve without this. Worse than the great depression.
I won't get into a discussion of how the unemployment statistics are manipulated now.....
They go away from the topic at hand..............
But these facts are background to prove that it will be a long long time and maybe never before btc or any similar thing fully replaces traditional money --------- whether we like that or not.
Even if Bitcoin will reach at 10,000$ then too it will not have effect on fiat.Fiat money has its own value as it is easy necessary to complete everyday transaction and people are dependent on it.Everyone in world is not capable to use Bitcoin freely because of one reason or other.
No it won't. We will always have fiat, no matter how high the value of the Bitcoins gets.
Fiat become worthless if all the people realized the true nature of its value (cost nothing to create thus should worth nothing), but I guess majority of human are illiterate when it comes to money creation, so it could take some decades before the knowledge has been largely spread and debated, currently maybe less than 1% people know the truth
The video The Biggest Scam In The History Of Mankind has 4.4 million views and I guess only 1 million reader believe what it says , and the people who really understand it will be much less[/b]
The video The Biggest Scam In The History Of Mankind has 4.4 million views and I guess only 1 million reader believe what it says , and the people who really understand it will be much less[/b]
Funny that you mention this video.I also watch Mike Maloney's videos and the history of money series are his most viewed ones.
I showed "The biggest scam in the history of mankind" to so many people who have a financial or economical background and believe it or not, more than half of them asked me if that is really the truth because they can not believe it! This is not what they learned during apprentice ship or in schools. Very often people just get taught what they have to know, and not what they should know!This system starts already to fool us and our children in the schools!!
BTC willl not reach $10.000, because BTC mining is going up worldwide and therefore, price will not go so high. 
this is no sense, because with the halving the mienrs will not dump so much, actually their dumping pressure is not that significant for the market
what is really matter is the demand not the supply
Gosh, the price is where supply meets demand. To say supply doesn't matter ignores literally half the price equation.
the supply is always the same, because there basically the same people that are dumping and manipulate the market
the demand on the other hand can grow to unbelievable level or remain the same, or diminish, demand is the key factor
only with a bigger demand a better price cna be achieved, with a lower supply you will not have a better value than the current one
Supply is not always the same. The supply changes just as quickly and easily as demand. Both are equally important to price. When the government was selling off the Silk Road coins, it wasn't lack of demand that was pushing price down, it was a glut of sudden supply. The whole point of Bitcoin is to limit supply, that's just as important to price as demand.
that was a case because those coin were confiscated or seized or whatever, but usually there are only the same people that dump in the market, the demand is what matter more, and what will make bitcoin skyrocket
i'm talking abotu aa demand that is not here at the moment, the demand that will come from average joe, now for example we are not increasing because of the demand...
an example whyt he demand matter more, if bitcoin were used directly instead of dumped, the supply would be pointless, if not for trading, and the demand would be the only great factor
this will be true when the acceptance will be big enuogh, and again this is only possible with higher demand which will call an huge aodption
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