1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is.
I think we don't talk about Fiat only but talking about physical currency. Even if Fiat is no longer exist, we still have coins currency made from gold or silver or copper. So, don't worry about losing values of physical currency as the chance is almost impossible for me. In addition, we cannot use digital currency in all situation, how if there will be no internet. And still many other challenges or obstacles to apply it as a single currency. 
Topic: Rookie thing. - page 4. (Read 706 times)
2. The matter will be depending if bitcoin still has value during that time. It's already tied up to dollars so if the scenario changes and it will be tied up with fiat that has value then it can be the other currency like Chinese Yuan or Euro, a powerful currency in the world that's dominating.
And a different scenario might matter because if by that time, there will be no attachment to any fiat then the exchange wouldn't matter because it can be 1 BTC = 1 BTC.
And a different scenario might matter because if by that time, there will be no attachment to any fiat then the exchange wouldn't matter because it can be 1 BTC = 1 BTC.
The cost of goods like a car are determined by how much the manufacturer and salesman wants to charge you, these are normally arbitrary numbers with a percent added to them.
If bitcoin does well you could think of it like a precious metal, you should always have demand for it and people will just offer what they want for a small profit while remaining competitive.
If bitcoin does well you could think of it like a precious metal, you should always have demand for it and people will just offer what they want for a small profit while remaining competitive.
Well definitely your answers bright it up for me little bit. Its still quite fresh topic isnt it?
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. Its really hard to think that fiat money would totally lose its value as long the government do exist these paper things wont be erased on existence.Well, theres no such thing
about the future but its really hard to tell up.
2. It would depend on what would be its value on btc since it doesnt have fiat value.A bit complicated though thats why im not really thinking of this kind of possibility.
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.
if fiat money disappeared, bitcoins would be priced in something else like gold.
everything else is just supply and demand. bitcoins are scarce; there will only ever be 21 million of them. meanwhile, an increasing number of people want to buy and use them. growing demand + scarce supply = growing price.
fiat devaluation doesn't guarantee that bitcoin appreciates in real purchasing power. we need adoption for that, and preferably mass adoption.
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.
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.
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.
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.
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