Topic: Rookie thing. - page 2. (Read 706 times)
Not a rookie question in my opinion, you dig deep.
Fiat will not disappear, it will just go digital like the governments are doing as of now. But if it really will disappear, we are going to price everything for satoshis I guess, this is if we really are going to consider BTC because there are lots more. Some may prefer the low transaction fee crypto. If I buy a phone I may be paying it for 0.0001 BTC or ETH.
I think you are trying to say it is the paired of the bitcoin/USD because it has value right now. Today we use the market for having a good pair for making transactions to use to have a quantity of making trades to buy and sell it is part of the market if you want too but if we want to tell if the market price of the dollars becomes zero what if happen to bitcoin?.
If it is on the market the price of the bitcoin becomes useless because it can't take any more into the whole transactions it looks like a dead coin but if we will change the perspective as the bitcoin as bitcoin itself it has still a price like 1 Bitcoin are still equal to one bitcoin. It depends on the company or the business if they are accepting the bitcoin or USD like if you buy a car in USD it's USD if you buy with the help of bitcoin its bitcoin not the pair of bitcoin/USD.
If it is on the market the price of the bitcoin becomes useless because it can't take any more into the whole transactions it looks like a dead coin but if we will change the perspective as the bitcoin as bitcoin itself it has still a price like 1 Bitcoin are still equal to one bitcoin. It depends on the company or the business if they are accepting the bitcoin or USD like if you buy a car in USD it's USD if you buy with the help of bitcoin its bitcoin not the pair of bitcoin/USD.
i think the compare will not with fiat again , it will become bitcoin compare to something , in the case fiat have no power again in the future
Hello good people.
I'm reading about all this cryptocurrency for a little while now (hard not to its all over and everywhere) and I got some questions that I could not find a satisfying answer.
1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is. If it got no value what value Bitcoin have then ? ( i will use bitcoin for must common crypto but thinking of any). Can't get my head over it.
2.If you imagine in let's say 20 years FIAT goes to CRYPTO all the way. You want to buy a car worth $5000 but paying in Crypto, how much would you pay ? if $ got no value.
Maybe answer is simple for some of you. Please be good samaritan and share some knowlage here.
Thanks for any effort.
At that point in the scenario that you are describing bitcoin will become the currency of reference for the rest of the world and things will be priced on bitcoin, so how much a car will cost in bitcoin in that scenario? I do not know, but there is something called price discovery and you see it in the markets all the time, investors and traders try to figure out the price of an asset and this is what makes the price to go up and down, as such something similar will happen with all other assets and services around the world, I know this may seem impossible but this takes place all the time already with fiat and it will be no different if bitcoin takes over the economy. I'm reading about all this cryptocurrency for a little while now (hard not to its all over and everywhere) and I got some questions that I could not find a satisfying answer.
1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is. If it got no value what value Bitcoin have then ? ( i will use bitcoin for must common crypto but thinking of any). Can't get my head over it.
2.If you imagine in let's say 20 years FIAT goes to CRYPTO all the way. You want to buy a car worth $5000 but paying in Crypto, how much would you pay ? if $ got no value.
Maybe answer is simple for some of you. Please be good samaritan and share some knowlage here.
Thanks for any effort.
Hello good people.
I'm reading about all this cryptocurrency for a little while now (hard not to its all over and everywhere) and I got some questions that I could not find a satisfying answer.
1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is. If it got no value what value Bitcoin have then ? ( i will use bitcoin for must common crypto but thinking of any). Can't get my head over it.
2.If you imagine in let's say 20 years FIAT goes to CRYPTO all the way. You want to buy a car worth $5000 but paying in Crypto, how much would you pay ? if $ got no value.
Maybe answer is simple for some of you. Please be good samaritan and share some knowlage here.
Thanks for any effort.
I'm reading about all this cryptocurrency for a little while now (hard not to its all over and everywhere) and I got some questions that I could not find a satisfying answer.
1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is. If it got no value what value Bitcoin have then ? ( i will use bitcoin for must common crypto but thinking of any). Can't get my head over it.
2.If you imagine in let's say 20 years FIAT goes to CRYPTO all the way. You want to buy a car worth $5000 but paying in Crypto, how much would you pay ? if $ got no value.
Maybe answer is simple for some of you. Please be good samaritan and share some knowlage here.
Thanks for any effort.
All of those presumptions are somewhat unrealistic.Why? Fiat would never lose its value and its impossible for it to happen as long the government do exist then these paper things will surely exist
in the end of time. Its true that btc do get its value from fiat and if ever that fiat comes worthless then there would be some other things but im sure that crypto wont really be on that place
maybe some other centralized stuff but not this one.Why would think up that much? We wont reach up that state where fiat becomes worthless.
Bitcoin is just bitcoin and it got its own value, only we are creating the value based on dollars or euro or any other fiat money when we wanted to trade that crypto but it doesn't really mean that bitcoins are value in USD.It got its value on its own demand and supply and the minimum value that bitcoin can be divided into is satoshi.Maybe in future fiat becomes useless and cryptos is allover accepted as payment then every product will be valued in satoshi.
Hello good people.
I'm reading about all this cryptocurrency for a little while now (hard not to its all over and everywhere) and I got some questions that I could not find a satisfying answer.
1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is. If it got no value what value Bitcoin have then ? ( i will use bitcoin for must common crypto but thinking of any). Can't get my head over it.
2.If you imagine in let's say 20 years FIAT goes to CRYPTO all the way. You want to buy a car worth $5000 but paying in Crypto, how much would you pay ? if $ got no value.
Maybe answer is simple for some of you. Please be good samaritan and share some knowlage here.
Thanks for any effort.
I'm reading about all this cryptocurrency for a little while now (hard not to its all over and everywhere) and I got some questions that I could not find a satisfying answer.
1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is. If it got no value what value Bitcoin have then ? ( i will use bitcoin for must common crypto but thinking of any). Can't get my head over it.
2.If you imagine in let's say 20 years FIAT goes to CRYPTO all the way. You want to buy a car worth $5000 but paying in Crypto, how much would you pay ? if $ got no value.
Maybe answer is simple for some of you. Please be good samaritan and share some knowlage here.
Thanks for any effort.
All of those presumptions are somewhat unrealistic.Why? Fiat would never lose its value and its impossible for it to happen as long the government do exist then these paper things will surely exist
in the end of time. Its true that btc do get its value from fiat and if ever that fiat comes worthless then there would be some other things but im sure that crypto wont really be on that place
maybe some other centralized stuff but not this one.Why would think up that much? We wont reach up that state where fiat becomes worthless.
You ask about things that are unknown. Now the value of things like a machine is measured in Fiat currencies, as is the value of cryptocurrencies.
If all fiat money is transferred to cryptocurrency, then people will evenly measure everything in the equivalent of $ because some kind of reference point is needed.
If all fiat money is transferred to cryptocurrency, then people will evenly measure everything in the equivalent of $ because some kind of reference point is needed.
Hello good people.
I'm reading about all this cryptocurrency for a little while now (hard not to its all over and everywhere) and I got some questions that I could not find a satisfying answer.
1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is. If it got no value what value Bitcoin have then ? ( i will use bitcoin for must common crypto but thinking of any). Can't get my head over it.
2.If you imagine in let's say 20 years FIAT goes to CRYPTO all the way. You want to buy a car worth $5000 but paying in Crypto, how much would you pay ? if $ got no value.
Maybe answer is simple for some of you. Please be good samaritan and share some knowlage here.
Thanks for any effort.
I'm reading about all this cryptocurrency for a little while now (hard not to its all over and everywhere) and I got some questions that I could not find a satisfying answer.
1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is. If it got no value what value Bitcoin have then ? ( i will use bitcoin for must common crypto but thinking of any). Can't get my head over it.
2.If you imagine in let's say 20 years FIAT goes to CRYPTO all the way. You want to buy a car worth $5000 but paying in Crypto, how much would you pay ? if $ got no value.
Maybe answer is simple for some of you. Please be good samaritan and share some knowlage here.
Thanks for any effort.
This is just an exercise in imagination that FIAT money will lose its value in highly developed countries. Although there are cases in countries such as Venezuela where the value of money is almost 0, due to hyperinflation.
But Bitcoin is dependent on the ratio between supply and demand. If the supply is much higher than the demand, then the price is lower. If the demand is higher than the supply, then the price increases. Related to the car, manufacturers and sellers who accept payment in Bitcoin, so only what price they charge for their products.
Hello good people.
I'm reading about all this cryptocurrency for a little while now (hard not to its all over and everywhere) and I got some questions that I could not find a satisfying answer.
1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is. If it got no value what value Bitcoin have then ? ( i will use bitcoin for must common crypto but thinking of any). Can't get my head over it.
2.If you imagine in let's say 20 years FIAT goes to CRYPTO all the way. You want to buy a car worth $5000 but paying in Crypto, how much would you pay ? if $ got no value.
Maybe answer is simple for some of you. Please be good samaritan and share some knowlage here.
Thanks for any effort.
If fiat will become zero valuable asset or lose its worth, I believe that bitcoin can be measured also through gold. Since fiat is only depending also from gold. That is why there is a gold reserve for every country.I'm reading about all this cryptocurrency for a little while now (hard not to its all over and everywhere) and I got some questions that I could not find a satisfying answer.
1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is. If it got no value what value Bitcoin have then ? ( i will use bitcoin for must common crypto but thinking of any). Can't get my head over it.
2.If you imagine in let's say 20 years FIAT goes to CRYPTO all the way. You want to buy a car worth $5000 but paying in Crypto, how much would you pay ? if $ got no value.
Maybe answer is simple for some of you. Please be good samaritan and share some knowlage here.
Thanks for any effort.
It definitely have a value since today there is already a converted exchange between fiat and crypto. As soos as cryptocurrency overpowered the fiat, there can be already a price for a certain thing. Imagine, how does people before made the price between fiat and a car? So, definitely it can also be made in cryptocurrency.
Hello good people.
I'm reading about all this cryptocurrency for a little while now (hard not to its all over and everywhere) and I got some questions that I could not find a satisfying answer.
1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is. If it got no value what value Bitcoin have then ? ( i will use bitcoin for must common crypto but thinking of any). Can't get my head over it.
2.If you imagine in let's say 20 years FIAT goes to CRYPTO all the way. You want to buy a car worth $5000 but paying in Crypto, how much would you pay ? if $ got no value.
Maybe answer is simple for some of you. Please be good samaritan and share some knowlage here.
Thanks for any effort.
What ever happen in future the price of Bitcoin will never be an issue because that time we will rely about the value of item we need to buy = BTC so meaning there is no need to look about Dollar or any kind of denominations and this is the main target why Satoshi Nakamoto created this cryptocurrency.I'm reading about all this cryptocurrency for a little while now (hard not to its all over and everywhere) and I got some questions that I could not find a satisfying answer.
1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is. If it got no value what value Bitcoin have then ? ( i will use bitcoin for must common crypto but thinking of any). Can't get my head over it.
2.If you imagine in let's say 20 years FIAT goes to CRYPTO all the way. You want to buy a car worth $5000 but paying in Crypto, how much would you pay ? if $ got no value.
Maybe answer is simple for some of you. Please be good samaritan and share some knowlage here.
Thanks for any effort.
Financial freedom the not depending in government instead will depend in supply and demand,and i want this to happen maybe not for me but for my family's future.
There is no replacement of sorts. Even the government is planning to create their own cryptocurrency. I believe that would have been the topic if we are not talking about the coronavirus. And the way I see it, the government central bank digital currencies are just going to be a kind of asset that people will buy from banks and store in their mobile banking apps, and they can also sell it whenever they want to.
So, even in future if you decide to be making use of cryptocurrency, it's still going to be the same currencies we have now that will be in control and when you're buying whatever you want to buy it will be calculated in fiat.
So, even in future if you decide to be making use of cryptocurrency, it's still going to be the same currencies we have now that will be in control and when you're buying whatever you want to buy it will be calculated in fiat.
People who say that the dollar has no value are very hypocritical. They themselves sell their cryptocurrency for dollars. Everything in the world is valued in fiat money. And if this is a generally accepted norm, then fiat money has value. Another thing is inflation, which devalues them. But this mechanism is necessary for economic growth. Do not take literally people who say that the dollar has no value.
1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is. If it got no value what value Bitcoin have then ? ( i will use bitcoin for must common crypto but thinking of any). Can't get my head over it.
The easiest answer here is that fiat will never lose its value.
It is true that the value of each fiat to others is changing but you should always remember that fiat is centralized. It is controlled by the government in each country and they find ways to retain its value even though they are printing a lot of it. Bitcoin's value will be the same, it is just that Bitcoin is not that much used and people commonly used fiat that is why they are converted into it.
2.If you imagine in let's say 20 years FIAT goes to CRYPTO all the way. You want to buy a car worth $5000 but paying in Crypto, how much would you pay ? if $ got no value.
Then how will we price it if $ has no value and its price is $5000, right?
Obviously we would be paying cryptocurrency in its own value. If the main currency of each country, let's say is Bitcoin, then obviously they will price that car into Bitcoin for example one Ford Everest costs 5 BTC, then I would pay 5 BTC nothing more. You don't need to add something without value since it has no value.
I'm reading about all this cryptocurrency for a little while now (hard not to its all over and everywhere) and I got some questions that I could not find a satisfying answer.
1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is. If it got no value what value Bitcoin have then ? ( i will use bitcoin for must common crypto but thinking of any). Can't get my head over it.
2.If you imagine in let's say 20 years FIAT goes to CRYPTO all the way. You want to buy a car worth $5000 but paying in Crypto, how much would you pay ? if $ got no value.
1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is. If it got no value what value Bitcoin have then ? ( i will use bitcoin for must common crypto but thinking of any). Can't get my head over it.
2.If you imagine in let's say 20 years FIAT goes to CRYPTO all the way. You want to buy a car worth $5000 but paying in Crypto, how much would you pay ? if $ got no value.
Bitcoin will be worth as much as Bitcoin will be worth no matter how much fiat is worth now or then. To buy car you will pay as much Bitcoin as seller will want. You will agree with that or not and go buy car somewhere else. Loaf of bread will be worth as much as now 10 years from now. Ounce of gold also. Gold stores value well. 2000 years ago you were able to buy a armour with ounce of gold. 100 years ago you were able to buy a business suit with ounce of gold. Today you can buy a designer outfit with ounce of gold.
Bitcoin is very volatile and dont store value well and will be 10 years from now much more expensive or much cheaper. Maybe you will be able to afford a sport car with one Bitcoin or you will only be able to fix flat tire.
Bitcoin's volatility are the basic issues that you need to understand in holding and investing in bitcoin. Bitcoin is still better than fiat money although there's a lot of factor that affect bitcoin's price when there's some issues in our surroundings. The increase in bitcoin price is higher than you imagine if it moves in the market and also the drop in its price is also huge, so it is risky to use bitcoin but very effective as a store of value. Once you know the importance of bitcoin in the economy, you will learn how to manipulate it in the market properly. Gold and bitcoin have similarities but they are both a good store of value, the only difference is between the time where they are good to use. Bitcoin are for a short term profit and gold are for a long term store of value.
Bitcoins volatility is not a basic issue to learn by newbies since there are so many things you need to understand before you can earn on it and its so technical that even pro traders still learning from its daily movements that's why if he loves to join with this earning option by trading then he should start researching on bitcoin fundamentals.
But I think for now its to far to compare bitcoins to gold since we know that the value of gold is continuously growing while the price of bitcoins is still in moving up or moving down and this is dangerous for newbie traders to risk with if they don't know on what they are doing.
I'm reading about all this cryptocurrency for a little while now (hard not to its all over and everywhere) and I got some questions that I could not find a satisfying answer.
1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is. If it got no value what value Bitcoin have then ? ( i will use bitcoin for must common crypto but thinking of any). Can't get my head over it.
2.If you imagine in let's say 20 years FIAT goes to CRYPTO all the way. You want to buy a car worth $5000 but paying in Crypto, how much would you pay ? if $ got no value.
1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is. If it got no value what value Bitcoin have then ? ( i will use bitcoin for must common crypto but thinking of any). Can't get my head over it.
2.If you imagine in let's say 20 years FIAT goes to CRYPTO all the way. You want to buy a car worth $5000 but paying in Crypto, how much would you pay ? if $ got no value.
Bitcoin will be worth as much as Bitcoin will be worth no matter how much fiat is worth now or then. To buy car you will pay as much Bitcoin as seller will want. You will agree with that or not and go buy car somewhere else. Loaf of bread will be worth as much as now 10 years from now. Ounce of gold also. Gold stores value well. 2000 years ago you were able to buy a armour with ounce of gold. 100 years ago you were able to buy a business suit with ounce of gold. Today you can buy a designer outfit with ounce of gold.
Bitcoin is very volatile and dont store value well and will be 10 years from now much more expensive or much cheaper. Maybe you will be able to afford a sport car with one Bitcoin or you will only be able to fix flat tire.
Bitcoin's volatility are the basic issues that you need to understand in holding and investing in bitcoin. Bitcoin is still better than fiat money although there's a lot of factor that affect bitcoin's price when there's some issues in our surroundings. The increase in bitcoin price is higher than you imagine if it moves in the market and also the drop in its price is also huge, so it is risky to use bitcoin but very effective as a store of value. Once you know the importance of bitcoin in the economy, you will learn how to manipulate it in the market properly. Gold and bitcoin have similarities but they are both a good store of value, the only difference is between the time where they are good to use. Bitcoin are for a short term profit and gold are for a long term store of value.
You ask about things that are unknown. Now the value of things like a machine is measured in Fiat currencies, as is the value of cryptocurrencies.
If all fiat money is transferred to cryptocurrency, then people will evenly measure everything in the equivalent of $ because some kind of reference point is needed.
If all fiat money is transferred to cryptocurrency, then people will evenly measure everything in the equivalent of $ because some kind of reference point is needed.
Hello good people.
I'm reading about all this cryptocurrency for a little while now (hard not to its all over and everywhere) and I got some questions that I could not find a satisfying answer.
1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is. If it got no value what value Bitcoin have then ? ( i will use bitcoin for must common crypto but thinking of any). Can't get my head over it.
sorry but i don't get what you are saying here,can you please make the question here?i dont know if i am missing something or it is really can't be understandI'm reading about all this cryptocurrency for a little while now (hard not to its all over and everywhere) and I got some questions that I could not find a satisfying answer.
1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is. If it got no value what value Bitcoin have then ? ( i will use bitcoin for must common crypto but thinking of any). Can't get my head over it.
2.If you imagine in let's say 20 years FIAT goes to CRYPTO all the way. You want to buy a car worth $5000 but paying in Crypto, how much would you pay ? if $ got no value.
You are just making things hard mate because when time comes that dolalr has zero value then why need to compared the price?there is no such thing if that happens because that means Bitcoin will be supported by altcoins to be the main currency to use. 
It would very much like a barter change.
Since you would not know how a piece of it would be valued then they would try to use how much it is with things.
Way back that is how it is done.
They created money to avoid wrong prices. We don't know that though since we didn't experience it.
You will buy something out of how much it is being offered to your thru bitcoin.
You may try to compare it with something you buy before.
Example:
You bought a shirt for 1 BTC.
Then someone sold you pants for almost the same price like 1.1.
Something like that.
Since you would not know how a piece of it would be valued then they would try to use how much it is with things.
Way back that is how it is done.
They created money to avoid wrong prices. We don't know that though since we didn't experience it.
You will buy something out of how much it is being offered to your thru bitcoin.
You may try to compare it with something you buy before.
Example:
You bought a shirt for 1 BTC.
Then someone sold you pants for almost the same price like 1.1.
Something like that.
I agree with this statement.
But for me, fiat money has utility when it has value. The price of it depends only in economy. Banks can issue more fiat when there is a crisis (expansionary) in order for the households and markets have a PP. They can also hold tight the money making when the economy is reaching its boom called contractionary. So unlike with bitcoin, banks can easily control the circulation of the fiat making its value more/less everyday.
But for me, fiat money has utility when it has value. The price of it depends only in economy. Banks can issue more fiat when there is a crisis (expansionary) in order for the households and markets have a PP. They can also hold tight the money making when the economy is reaching its boom called contractionary. So unlike with bitcoin, banks can easily control the circulation of the fiat making its value more/less everyday.
It is to be noted that banks don't issue fiat money. Fiat money is only issued and brought into circulation by government and central bank. However, you are right in saying that banks can control the supply of fiat money in the economy but this is not as straight-forward as you said. Banks do control the circulation but using economic tools like interest rate. When economic is under crisis, banks reduce the lending rate making it easier for household and markets to raise loans which increases the supply of money in economy and vice-versa happens when inflation is increasing at pacy rate. Banks increase lending rate and deposit rates in such situation, luring people to save money in banks and raise less loans which reduce the supply of currency in the economy. But that doesn't affect the value of money, it only affect the PP of money.
that's not easy to answer, since we are used to pricing things in dollars, and we can't know the path bitcoin adoption will take. if in 10 years bitcoins are worth $500k a piece in 2020 dollars, then it would cost 0.01 BTC. that's a wild guess.
Really not easy to answer and this is the reason that I don't want dollars to go obsolete when both of them can co exist, there will always a time and circumstances that we still need dollar or fiat to transact, not only for majority users but also for minorities who are living in provinces with no access to the technology, all countries will always have this kind of people.
Jump to: