Topic: Will usage of bitcoin reduce the value of native currencies? - page 10. (Read 2017 times)
I think it will not happen in short terms, but it can happen in long terms...
The chances for reducing the value of native currencies is not possible since fiat currencies are completely controlled by the government and central banks and it is the responsibility of them not to let reduce the value of their currency .
Bitcoin and Fiat currencies have no connection when it comes to their price/value/volume..
And none of the two can either affect the others price nor value..
Fiat currencies are regulated by the government and reflect the economy of a nation,it wields so much power in their native country and the bitcoin just can't reduce it's patronage..
Bitcoin isn't regulated by the government and reflects individuality,as individuals on the system determine it's price/value..
The bitcoin is growing faster than expected with far more adoptions everyday,but it is in no competition with conventional currencies
And none of the two can either affect the others price nor value..
Fiat currencies are regulated by the government and reflect the economy of a nation,it wields so much power in their native country and the bitcoin just can't reduce it's patronage..
Bitcoin isn't regulated by the government and reflects individuality,as individuals on the system determine it's price/value..
The bitcoin is growing faster than expected with far more adoptions everyday,but it is in no competition with conventional currencies
fiat currency is an old means of exchange after the trade by barter era failed to yield the much anticipated result, and from time immemorial, fiat currency has proven to be a convenient means of dealing. This landmark cannot be eradicated by crypto currency. Yes soon bitcoin will gain prominence but not to the detriment of fiat currency.
Will the value of native currency fall down if the usage of bitcoin increases? do people feel that they don't need fiat anymore for the transactions to happen? Is that why people are trying to let down bitcoin ? Many questions are just wandering in my mind at the moment. Can anyone answer atleast few of them?
Sure the native currency will fall down if the usage of Bitcoin increase among cryptocurrency community or among the masses. Yes, people feel that the transaction that's been done through fiat is not secure so, they crave to that transaction done without a trace. Yes, some cabal never want to see Bitcoin live as it post a threat to their economy and given freedom to the people by the people. 
If the government agrees, we will not need paper money anyway. But if governments don't accept Bitcoin, it will not spread as a payment method. If so, it is something like economic rebellion that everyone starts using cryptocurrency without governments' accept and i have no idea how it will end.
How could that happen if we are always converting every crypto currency into USD? 
It is the truth and specially with bitcoin which is like a commodity only and not a currency for a lot of people here.
It just became a trading tool to get more USD which is getting me worried. It may stay like this for a long time. It will not weaken the fiat system but more stronger.
It is the truth and specially with bitcoin which is like a commodity only and not a currency for a lot of people here.
It just became a trading tool to get more USD which is getting me worried. It may stay like this for a long time. It will not weaken the fiat system but more stronger.
Yes, so I think that each state will have its own cryptocurrency with its own value
No . Using bitcoin for current billing is often not widely used. Many investors buy bitcoin for their investment purpose instead of using it for payment methods. The daily payment method is mainly traditional currency. So , rising bitcoin demand will not diminish the value of the domestic currency.
Will the value of native currency fall down if the usage of bitcoin increases?do people feel that they don't need fiat anymore for the transactions to happen?Is that why people are trying to let down bitcoin ? Many questions are just wandering in my mind at the moment. Can anyone answer atleast few of them?
Usage of bitcoin dont have anything to do with reducing of its value... All we see around is what has happened in the history of bitcoin and other altcoin since bitcoin is the king other coin follows. I see speculations that soon most altcoin wikl die off and which is definitely true.
I think its not, the more use of bitcoin in the community will gain more value for bitcoin.
Well the world dont want to admit that FIAT is falling they are just telling BTC value is rising.
But if we will think about it, USD value and other currency of the world are so down now especially last December 2017.
Well the world dont want to admit that FIAT is falling they are just telling BTC value is rising.
But if we will think about it, USD value and other currency of the world are so down now especially last December 2017.
Bitcoin will never be a competitor to the dollar. This is an analogue that is popular, but the world government does not legalize cryptocurrency.
Now bitcoin is a good tool for online payments.
Now bitcoin is a good tool for online payments.
Bitcoin will help failing currencies that are falling down. just look at the economy in Venezuela. Their currency has gone down the pan and they are looking at crypto to save them
Will the value of native currency fall down if the usage of bitcoin increases?do people feel that they don't need fiat anymore for the transactions to happen?Is that why people are trying to let down bitcoin ? Many questions are just wandering in my mind at the moment. Can anyone answer atleast few of them?
I do not think the increase in usage of bitcoin will make native currency value to depreciate. Since most holders of crypto asset significantly end by changing crypto to fiat. it means eventhough bitcoin usage can be high but it doesnt make fiat to be less valuable. many people are discrediting fiat because they see it as a threat to the job or to the economy of their country. Also due to rapid use of crypto for fraudulent actvities, it is getting more enemy 
Not really bitcoin is a digital currency which is decentralized. There are still so many people don't dare to adopt bitcoin as it is extremely volatile it might bring them a huge loss. So it will not possible to happen to reduce the value of the native currency even native currency is totally controlled and maintained by government and bank.
I think Bitcoin won't affect that way, people still will be using fiat or local currencies for a few accedes, and eventually, the whole world will adapt crypto as we adapted paper money.
New technologies and designs are meant to improve upon and replace existing ones.
Currencies was invented and it replaced the existing system of trade by barter, a digital asset which is accepted as a currency could open a new door to how we transact.
Gaining acceptance as a currency is not cheaply done, especially as a decentralized system.
Bitcoin and fiat could function together in the same financial ecosystem without any giving way for the other... For now.
Right.They can work hand in hand instead of competing with each other.I believe if bitcoin users will increase,it's still cannot make fiat currencies value down.Besides bitcoin is here not to eliminate totally fiat currency ,it may serve as a reserve currency wherein people are free to choose which one to use. Currencies was invented and it replaced the existing system of trade by barter, a digital asset which is accepted as a currency could open a new door to how we transact.
Gaining acceptance as a currency is not cheaply done, especially as a decentralized system.
Bitcoin and fiat could function together in the same financial ecosystem without any giving way for the other... For now.
your question, in my opinion is the same old question that is being repeated around here every month at least about whether bitcoin is going to replace fiat.
and the answer is always going to be no. and because of that the "value of fiat" is never going to drop because of bitcoin's existence and adoption. bitcoin isn't here to "replace" anything or kill anything. bitcoin is here so that people have that needed alternative option for payments that is decentralized and can not be censored.
and the answer is always going to be no. and because of that the "value of fiat" is never going to drop because of bitcoin's existence and adoption. bitcoin isn't here to "replace" anything or kill anything. bitcoin is here so that people have that needed alternative option for payments that is decentralized and can not be censored.
Will the value of native currency fall down if the usage of bitcoin increases?do people feel that they don't need fiat anymore for the transactions to happen?Is that why people are trying to let down bitcoin ? Many questions are just wandering in my mind at the moment. Can anyone answer atleast few of them?
I think the currency goes down not because of the increase in people accessing bitcoin, the currency according to the changing times, and bitcoin will not affect the decline of the currency itself
I think it won't happens because some people won't accept bitcoin due to the risk volatility carries.
and more over fiat currencies are controlled by central banks and governments and do not let this to happen.
and more over fiat currencies are controlled by central banks and governments and do not let this to happen.
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