If bitcoin price is $10.000, will fiat be worthless? - page 97.

Rizky Aditya

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Quote from: Amph on December 13, 2015, 06:56:34 AM

bitcoin will never be able to suck all the fiat money, they can just print more without problem

also fiat is already worthless, but you're obligated to use it for the majority of things

if you mean collapsed, i don't think so

Bitcoin will always be worth something to some people. Not everyone is going to switch to Bitcoin, so fiat is always going to be worth something.

Nameless Coin

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Quote from: angaper on December 17, 2015, 05:10:03 AM

While the USA holds its great influence in the worldwide economy, the greenback will keep a great value into the international trade. I can't see a near scenario where fiat, especially the dollar, become less relevant than bitcoin.

Very true the government won't just make fiat the worthless thing ever, maybe in 100 years will just replace it, but I don't it will happen.
With bitcoin we need those fiat money to see what the value is.

angaper

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While the USA holds its great influence in the worldwide economy, the greenback will keep a great value into the international trade. I can't see a near scenario where fiat, especially the dollar, become less relevant than bitcoin.

Altynbekova

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Quote from: LuckyYOU on December 17, 2015, 04:35:17 AM

Quote from: BitMaxz on December 16, 2015, 02:35:00 PM

fiat cannot be worthless because fiats is our main money. Bitcoins is just a ecurrency.
And im agree to AtheistAKASaneBrain

This is true, the main currency in your country will always be worth something at least it should be worth something to you. Since the governments are in control of it, you're still going to have to pay with the main currency, which you can't always do with bitcoin as it's not accepted everywhere.

When they are still governments in the world fiat will be always be worth it. Bitcoin is just a way to have if you want to make some profit. Even the price of bitcoin 10.000 if there is no fiat how much bitcoin is worth than?

ultimatesky

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SkyFall

No it will not be worthless. The main reason because of this, is because the governments are controlling what they accept as currency in that country. You're still going to need to exchange if you're going grocery shopping or whatever.

LuckyYOU

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Quote from: BitMaxz on December 16, 2015, 02:35:00 PM

fiat cannot be worthless because fiats is our main money. Bitcoins is just a ecurrency.
And im agree to AtheistAKASaneBrain

This is true, the main currency in your country will always be worth something at least it should be worth something to you. Since the governments are in control of it, you're still going to have to pay with the main currency, which you can't always do with bitcoin as it's not accepted everywhere.

Blue_Tiger73

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I do not think so. For fiat to be worthless, you need to be able to buy everything with Bitcoin. Right now, most things you can only buy with fiat. That is the way I see it.

BTCRoyal

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Early Bitcoin Supporter

I am going to say this.

Everything plays into everything. If the fiat and the economy, allow for bitcoin to, at some point, be worth $10,000 at that point in time fiat, would have already been, or would then be, worthless.

lexuz

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Me, myself and I

I didnt agree with this because bitcoin will not becoming a global currency and fiat still will be number one currency you will use in your life

Hashminers

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Well I like fiat I have work it for years, but I like bitcoin more. Fiat is our money for now is th emost use and populair.
SO it is not worthless we still need it.

BitMaxz

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BTC price road to $80k

fiat cannot be worthless because fiats is our main money. Bitcoins is just a ecurrency.
And im agree to AtheistAKASaneBrain

AtheistAKASaneBrain

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Quote from: Amph on December 13, 2015, 06:56:34 AM

bitcoin will never be able to suck all the fiat money, they can just print more without problem

also fiat is already worthless, but you're obligated to use it for the majority of things

if you mean collapsed, i don't think so

It's not worthless simply because people accept it. If someone gave you 1 million dollars you wouldn't say "no thanks, this is worthless". So that's the point. Even if the system is rigged, people all over the world recognize the dollar, so as long as people recognize it and use and accept it, it's going to have value.

When BTC is 10K each, it just means you can buy the same you would be able to buy 10K dollars, that's all.

shanem

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Did fiat become worthless when bitcoin price was over $1,000? No, fiat is still around the same. People who bought cheap bitcoins benefited from the rise in the value.

bearex

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No, you still need some fiat to value the price of BTC. I mean, how is there any value in BTC being 10000$ when there are no $ ( or are worthless)

CryptoBjorn

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Well food was the payment in the old times. They change it to silvir and gold.
Now is a fiat money so I don't think it will change that fast. So I think that fiat won't be worthless we still need it I think.

log2exp

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We should use a gallon of milk or a loaf of bread, or a pizza to measure the value. Which would always hold relative value to be meaningful.

Using fiat as the measure is just an asymptote approaching zero on the long term, eventually they will be worthless.

Bayuu

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Probably. I'd say the fiat is already worthless though. It was always worthless paper and it'll continue to be worthless paper.

ivanst776

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If bitcoin price will hit $10.000, then fiat will not be worthless it will have it own value (maybe less than now) but no high decrease of fiat value.

sishendaoye

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I think with out fiat bitcoin will just be worthless. Fiat would be nice if they can increase so that the value of bitcoin will be good.
At the end fiat will be just fiat and we need it for bitcoin to grow.

MaritiJames3

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Quote from: bitsmichel on December 15, 2015, 02:52:14 PM

No, we will need fiat. Bitcoin is still to complicated for many people

Yes it is, it's going to take years for more people to adapt to itcoin. There are so many people in the world who don't even know something like bitcoins exists.

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