Topic: If bitcoin price is $10.000, will fiat be worthless? - page 99. (Read 145059 times)
I don't think fiat will ever be useless... Offcourse it would be nice if the bitcoin price was $10.000... you'd still have to pay your groceries with fiat
No, 10k$ is pretty much a middle-way target for 2020 I'd say, that's all, no complete disruption. The market cap of Bitcoin is ridiculously tiny considering its potential !
But I can see a small country officially adopting Bitcoin as a part of its "foreign currencies savings" midterm, not replacing FIAT though, that would be a surprise.
But I can see a small country officially adopting Bitcoin as a part of its "foreign currencies savings" midterm, not replacing FIAT though, that would be a surprise.
Do the math.
Assume 15,000,000 BTC (for ease).
$10,000 * 15,000,000 = $150,000,000,000
That's a mere $150 billion.
The world GDP is $77,868 billion. (In 2014 via Wikipedia.)
77,868 / 150 = 519
150 / 77,868 = 0.0019263369
So the world GDP is 520x larger, or BTC only accounts for 0.2%.
Now, all of that is total garbage. Complete horse shit. But it's a kind of indication of the size of the issue.
To actually calculate you need to look at the transaction volume of BTC and the velocity of money and I just don't have time to bother.
$10,000 per BTC is far too low to matter.
Assume 15,000,000 BTC (for ease).
$10,000 * 15,000,000 = $150,000,000,000
That's a mere $150 billion.
The world GDP is $77,868 billion. (In 2014 via Wikipedia.)
77,868 / 150 = 519
150 / 77,868 = 0.0019263369
So the world GDP is 520x larger, or BTC only accounts for 0.2%.
Now, all of that is total garbage. Complete horse shit. But it's a kind of indication of the size of the issue.
To actually calculate you need to look at the transaction volume of BTC and the velocity of money and I just don't have time to bother.
$10,000 per BTC is far too low to matter.
well you don't need to have all the world gdp converted in bitcoin, to destroy fiat with bitcoin itself, a good adoption for bitcoin, can start a chain that make people not believing in bitcoin anymore, and thus making fiat much less valuable
bcecause more and more investors will begin to invest in bitcoin
Do the math.
Assume 15,000,000 BTC (for ease).
$10,000 * 15,000,000 = $150,000,000,000
That's a mere $150 billion.
The world GDP is $77,868 billion. (In 2014 via Wikipedia.)
77,868 / 150 = 519
150 / 77,868 = 0.0019263369
So the world GDP is 520x larger, or BTC only accounts for 0.2%.
Now, all of that is total garbage. Complete horse shit. But it's a kind of indication of the size of the issue.
To actually calculate you need to look at the transaction volume of BTC and the velocity of money and I just don't have time to bother.
$10,000 per BTC is far too low to matter.
That's pretty good calculations you've got going on there, We'd need at least 5-10% of the worlds GDP to make a difference in my opinion.Assume 15,000,000 BTC (for ease).
$10,000 * 15,000,000 = $150,000,000,000
That's a mere $150 billion.
The world GDP is $77,868 billion. (In 2014 via Wikipedia.)
77,868 / 150 = 519
150 / 77,868 = 0.0019263369
So the world GDP is 520x larger, or BTC only accounts for 0.2%.
Now, all of that is total garbage. Complete horse shit. But it's a kind of indication of the size of the issue.
To actually calculate you need to look at the transaction volume of BTC and the velocity of money and I just don't have time to bother.
$10,000 per BTC is far too low to matter.
That would mean 250-500k per coin, which is pretty doable considering we've gotten this far and we're only picking up speed. Am I disillusioned for believing that? I mean it just seems so obvious to me. I accept the fact that it could be nothing tomorrow, but the chances of that happening are close to zero to me. A lot of people here believe the same stuff, but how come others outside the bitcoin community don't see what we're seeing? I think I'm part of a cult, cool.
You are probably a bit disillusioned
As much as I would like that to happen, it just does not seem realistic to me. If it does happen within our lifetime though, I have my retirement set up and enough to leave a nice amount to my kids. Let's first reach that 10k before talking about those types of numbers.
Definatly not !!
Do the math.
Assume 15,000,000 BTC (for ease).
$10,000 * 15,000,000 = $150,000,000,000
That's a mere $150 billion.
The world GDP is $77,868 billion. (In 2014 via Wikipedia.)
77,868 / 150 = 519
150 / 77,868 = 0.0019263369
So the world GDP is 520x larger, or BTC only accounts for 0.2%.
Now, all of that is total garbage. Complete horse shit. But it's a kind of indication of the size of the issue.
To actually calculate you need to look at the transaction volume of BTC and the velocity of money and I just don't have time to bother.
$10,000 per BTC is far too low to matter.
That's pretty good calculations you've got going on there, We'd need at least 5-10% of the worlds GDP to make a difference in my opinion.Assume 15,000,000 BTC (for ease).
$10,000 * 15,000,000 = $150,000,000,000
That's a mere $150 billion.
The world GDP is $77,868 billion. (In 2014 via Wikipedia.)
77,868 / 150 = 519
150 / 77,868 = 0.0019263369
So the world GDP is 520x larger, or BTC only accounts for 0.2%.
Now, all of that is total garbage. Complete horse shit. But it's a kind of indication of the size of the issue.
To actually calculate you need to look at the transaction volume of BTC and the velocity of money and I just don't have time to bother.
$10,000 per BTC is far too low to matter.
That would mean 250-500k per coin, which is pretty doable considering we've gotten this far and we're only picking up speed. Am I disillusioned for believing that? I mean it just seems so obvious to me. I accept the fact that it could be nothing tomorrow, but the chances of that happening are close to zero to me. A lot of people here believe the same stuff, but how come others outside the bitcoin community don't see what we're seeing? I think I'm part of a cult, cool.
Do the math.
Assume 15,000,000 BTC (for ease).
$10,000 * 15,000,000 = $150,000,000,000
That's a mere $150 billion.
The world GDP is $77,868 billion. (In 2014 via Wikipedia.)
77,868 / 150 = 519
150 / 77,868 = 0.0019263369
So the world GDP is 520x larger, or BTC only accounts for 0.2%.
Now, all of that is total garbage. Complete horse shit. But it's a kind of indication of the size of the issue.
To actually calculate you need to look at the transaction volume of BTC and the velocity of money and I just don't have time to bother.
$10,000 per BTC is far too low to matter.
Assume 15,000,000 BTC (for ease).
$10,000 * 15,000,000 = $150,000,000,000
That's a mere $150 billion.
The world GDP is $77,868 billion. (In 2014 via Wikipedia.)
77,868 / 150 = 519
150 / 77,868 = 0.0019263369
So the world GDP is 520x larger, or BTC only accounts for 0.2%.
Now, all of that is total garbage. Complete horse shit. But it's a kind of indication of the size of the issue.
To actually calculate you need to look at the transaction volume of BTC and the velocity of money and I just don't have time to bother.
$10,000 per BTC is far too low to matter.
Replace $10,000 with $1 million plus and then it might be a valid question. $10,000 isn't to be sniffed at all but it's still not a lot in world finance.
Fiat never will be worthless.
Even if btc will become most used currency.
Even if btc will become most used currency.
People still using fiat and cash money although it's value is declined in the last decades .
So I think that fiat can not be useless as people will continue using it
So I think that fiat can not be useless as people will continue using it
Some customers I deal with at my job don't even have computers, or know how to use a scanner, ect. There will never be a time where fiat is worthless. Atleast not in our lifetime. The government will always want control.
That's an absolutely foolish thing to say. Does fiat still have value relative to real goods and services? Well then, it's not worthless.
Fiat will be here for many decades to come. Remember not all trade is 'online'.
The positivity is good, but the focus for bitcoin should not be to compete with other currencies, but to find it's place next to these currencies.
The positivity is good, but the focus for bitcoin should not be to compete with other currencies, but to find it's place next to these currencies.
Fiat is already worthless, people just dont realize it.
Its a black hole that sucks out your wealth and leaves you indebted to bankers. How can such thing have value?
Its a black hole that sucks out your wealth and leaves you indebted to bankers. How can such thing have value?
It won't become useless, governments will find a way to use fiat in their favor. You're still going to need fiat to exchange your bitcoins.
It will take years for the whole world to adapt to bitcoin.
It will take years for the whole world to adapt to bitcoin.
Fiat will stay exactly the same, no matter what the price of Bitcoin is. Nothing can change fiat beside the governments themself. The only chance for Bitcoin to make fiat less usable/interesting, is when people world wide start to use Bitcoin more than their fiat currency.
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
Fiat is fiat. For now nothing can replace it.
You'll still need fiat to know how much it's actually worth in your countries currency. How else would you know how much bitcoin is worth to you?
Unless the whole world has accepted bitcoin, then that's the point where fiat becomes useless.
Unless the whole world has accepted bitcoin, then that's the point where fiat becomes useless.
I don't think so. Unless most of the world has adapted to bitcoin, fiat is still relevant. You'll still need to pay your bills with fiat and buy day to day things with fiat.
Fiat becomes worthless when most of the world has adapted to bitcoin. Until then, we'll still need to exchange to fiat.
Fiat becomes worthless when most of the world has adapted to bitcoin. Until then, we'll still need to exchange to fiat.
Jump to: