Will usage of bitcoin reduce the value of native currencies? - page 3.

millionaireshs

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Quote from: Ramya494 on November 06, 2018, 06:26:03 AM

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?

The price value of native currency is actually not connected to the price value decreased of bitcoin try to search and learn more about the flow of bitcoin in GOOGLE and You tube, after that you can just contribute even a little support to bitcoin for additional popularity of bitcoin.

Sadlife

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Technically yes as the digital currency gets popular people wont bother to use the old banking system like fiat because it's less secure and slow where you can just send lighting speed transactions around the world with no restrictions like regulations. But this will take time because we've not yet overcome the disadvantage of digital currency.

Stankcold#

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Thats is not true fait and Bitcoin was have different usage
Fiat money control by the government and each country
Bitcoin as digital currency the value is base from the dollar rate
So nothing can affect from the negative money or local currency
Country accepting bitcoin are get benefit because bitcoin base on dollar rate they can buy dollar using bitcoin

Seeker#9

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Native currencies has many more users than the cryptocurrencies and it will a lot of years before bitcoin can match the total number of native currency users. People spend more on their fiat than in bitcoin or any cryptocurrency so it is not possible for the virtual coins to reduce the value of native currency. There are alsoseveral factors that really affect the value of the native currency like the surge in demands of foreign goods and trade flows, speculations, among them. Bitcoin must be use widely first before it can affect any national currency.

toast

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I don't think that is possible because the government does not legalize the crypto currency as the currency that applies to the future, it might be possible

kokobaba880

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I have used both and i come to know that native currencies are also very important and we can not say that native currencies are not important we have seen that native currencies are now using for transactions through banks and in future blockchain will take the place of fiat currencies.

rafi035

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Quote from: Ramya494 on November 06, 2018, 06:26:03 AM

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?

in my opinion it is not possible because of the different functions and systems between the two currencies but if the crypto currency is legalized the government and the government use crypto currencies to use for the currency that applies

Pattart

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Quote from: libert19 on December 06, 2018, 12:15:57 AM

Certainly not. Most bitcoin/cryptocurrency users convert their crypto to fiat for real world use.

If crypto is gonna widely accepted then it could cause some trouble to native currencies but I am pretty sure governments won't let it happen.

means there is a possibility that the value of the native currency will reduce? because when crypto gets more mainstream one day, of course the users of the original currency will decrease because many of them prefer to use crypto, the fewer users the value of the native currency will certainly reduce..

libert19

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Certainly not. Most bitcoin/cryptocurrency users convert their crypto to fiat for real world use.

If crypto is gonna widely accepted then it could cause some trouble to native currencies but I am pretty sure governments won't let it happen.

ardhigalau

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I think it's impossible, the supply of bitcoin is only 21 million and if it's used by people all over the world it's impossible. Bitcoin has its own place on its users.

salad daging

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Bitcoin To The Moon 📈📈📈

Quote from: gulshan1 on December 05, 2018, 01:26:55 PM

Really usage of bitcoin will reduce the value of native currencies because it is easy to use and no need carry any where. And there is less chance to lost it. Some where digital currency is increasing by it actual value.

there will be an equation process which in the end becomes the solution of two things that have different systems, in the end fiat will also connote the crypto algorithm and that will happen if all humans are able to adapt to the digital economy. bitcoin is just one of the things that can be learned by them, in the end they can understand better.

gulshan1

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Really usage of bitcoin will reduce the value of native currencies because it is easy to use and no need carry any where. And there is less chance to lost it. Some where digital currency is increasing by it actual value.

1993jochico

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Quote from: TheClownSong on December 04, 2018, 09:10:18 PM

Fiat currency transaction is much bigger than bitcoin transaction but if in the future people prefer bitcoin for their transaction, its could be make fiat value drop. Maybe its because demand on bitcoin increasing and demand on fiat money decrease. Its like market mechanism

Technically right as long as the usage of fiat currency fall down the value of it will drop also there will be some shortage on fiat because they will surely lessen the money that government made.

TheClownSong

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Quote from: Ramya494 on November 06, 2018, 06:26:03 AM

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?

Fiat currency transaction is much bigger than bitcoin transaction but if in the future people prefer bitcoin for their transaction, its could be make fiat value drop. Maybe its because demand on bitcoin increasing and demand on fiat money decrease. Its like market mechanism

GenYGidro

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Bitcoins bring with them a lot of political controversy. This is because no government can fully control them. They are a clear form of wealth for individuals, and no state can expropriate them because of the cryptography that underlies this cryptocurrency.

People are gradually beginning to understand that cryptocurrencies are the best forms of money, because they are controlled only by code, making them a digital sacred contract.

The impact of cryptocurrency on society is not yet fully implemented and will not be immediately felt. Despite the creation of cryptocurrency, she barely reached the surface of society. Most people have not heard about Bitcoin and how virtual currencies work.

But a large number of sellers are already starting to collect bitcoins as payments. And it is only a matter of time when many other of them will not follow this example.

hildacitra

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I don't think so because fiat currency doesn't depend on crypto currency and vice versa. Even though crypto currency now becoming trend toward digital, it is just becoming an alternative of paper money. Crypto currency has many limitation in usage and it is much depending on electricity and internet connection. However, everyone is free to say and argue about it.

Troy-Crypto

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I believe that it will have an impact to the fiat currencies, but not to the value of the currencies. BTC and fiat currencies will adapt to each other and certain alterations will be made in order for both systems to work together. I don't think that it will replace fiat currencies or devalue them, but they will all be present and active in the standard banking system some day. The banking system will have to adjust and alter in order to implement cryptos into its system.

NoirSuccubus

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I would say that Bitcoin is one of a kind, and you cant compare it with the things we knew before. It is a completely new system, that we need to explore and use.

zoeylee

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Semi-Decentralized Exchange

I think it's very hard to happen for fiat money is controlled by any government. For we know that cryto currency is decentralized.

ansarose1

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I don't think so. Bitcoin can never control of reducing native currency, but i think its on some fiat currencies that bitcoin may affect values of, bitcoin is valuable as a digital currency and not on fiat.

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