I don't see the devaluation in the fiats as a result of more usage of the bitcoin/cryptocurrency. The only time it can affect the fiat is when and if the bitcoin is fully adopted as the main currency being spent in a country. But at the moment, we are not having this as the cryptocurrency is still finding its feet fully.
I agree.I'm sure the government will not permit this to happen.It will always make its regulations for cryptocurrency.For now,i still don't see the competition between cryptocurrency and fiat currency since there are still only few countries who have adopted bitcoin already.But once mass adoption happens,this issue will sure to be reopen. 
Topic: Will usage of bitcoin reduce the value of native currencies? - page 5. (Read 2056 times)
November 29, 2018, 06:21:06 PM
November 29, 2018, 06:13:54 PM
I don't see the devaluation in the fiats as a result of more usage of the bitcoin/cryptocurrency. The only time it can affect the fiat is when and if the bitcoin is fully adopted as the main currency being spent in a country. But at the moment, we are not having this as the cryptocurrency is still finding its feet fully.
November 29, 2018, 04:19:11 PM
Hundreds of factors are involved in the formation of the price of any Fiat currency: it is the country's GDP, and its place on the political map, and holding imports depending on it. But in the calculation, on which the bitcoin rate depends, these introductory do not participate: ordinary miners issue crypto currency, and their personal savings can not be considered as a security of a digital asset. .
November 29, 2018, 12:41:57 PM
What do you mean with "value"? Your beloved ( 
) fiat currency is worthing 2% less every single year, since many, many years. This is called inflaction. Your usd/eur/pund will worth less and less year over year. It works like this, bitcoin or not.
) fiat currency is worthing 2% less every single year, since many, many years. This is called inflaction. Your usd/eur/pund will worth less and less year over year. It works like this, bitcoin or not. November 29, 2018, 12:37:39 PM
I do not think the use of bitcoin can reduce the value of indigenous currencies. Because Bitcoin is a crypto currency. Whose market is independent. And many countries have valid the crypto currency in their country. Despite this, there has not been any difference in the value of their national currency.
November 28, 2018, 05:42:29 PM
Native currencies are one thing Bitcoin can't make its value to depreciate, as it stands now native currencies are like the backing asset to bitcoin and other cryptocurrencies. What bitcoin can have some affects on are the banks. Bitcoin presents financial freedom to everybody no matter where you find yourself in the world.
November 28, 2018, 05:32:30 PM
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
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
November 28, 2018, 04:59:09 PM
There is no connection between digital currency and fiat currency. In fact, USD will not fall once the value of bitcoin goes up. Unless they have only one usage. But in this case, they are use in different aspects. Bitcoin is for investment while fiat is to buy our daily consumption. It does not affect the price of dollar since USD does not based upon the value of BTC.
November 28, 2018, 04:47:49 PM
I don't think the usage of bitcoin will reduce the value of native currencies rather it will add more value to native currencies.similarly, bitcoin will complement native currencies by adding more economic value to it.For example, we all know that people find it very difficult to transact and do businesses using traditional financial method,and this has been bedeviling business activities in so many countries.
However, when bitcoin is integrated in the financial paymemt system in a country,there is high tendency that people from various part of the world will purchase whatever goods they want ,and with blockchain technology backing bitcoin every transaction made will appeared clearly.So,when the businesses activities done using bitcoin progresses,in one way or the other it would directly or indirectly affect the economy which inturn add value to the native currencies
However, when bitcoin is integrated in the financial paymemt system in a country,there is high tendency that people from various part of the world will purchase whatever goods they want ,and with blockchain technology backing bitcoin every transaction made will appeared clearly.So,when the businesses activities done using bitcoin progresses,in one way or the other it would directly or indirectly affect the economy which inturn add value to the native currencies
November 28, 2018, 03:25:16 PM
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 it doest affect that the value of native currency fall down if the usage of bitcoin increases, instead the native currency will get high if the Bitcoin price in the market rise. The usage of bitcoin does not affect the value of a native currency. Even though we have bitcoin still the native currency is regulated by the government and we still need fiat in our daily transactions.
November 28, 2018, 03:10:13 PM
I dont think so. Bitcoin is dependent on fiat while native currencies are not related to bitcoin and has nothing to do wih it, can even stand with out bitcoin. What is bitcoin with out fiat? What value can you give to bitcoin with out the native currency? In my opinion, bitcoin will not affect fiat but fiat can affect bitcoin.
November 28, 2018, 03:04:51 PM
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 value of the currency will not be affected by Bitcoin if it widely used. FIAT always controlled by the government and restricts external influences that make inflation lose its value. And you still have to use the local currency to buy Bitcoin so its value will not be affected. 
November 28, 2018, 03:01:02 PM
Bitcoin can't reduce the value of FIAT.
Bitcoin can gain more value versus FIAT.
As we do see BTC rise at high like 20,000 USD
But still 1 USD = 1 USD and it never change!
Now bitcoin is at the level of 4k! still, 1USD = 1 USD.
Bitcoin can gain more value versus FIAT.
As we do see BTC rise at high like 20,000 USD
But still 1 USD = 1 USD and it never change!
Now bitcoin is at the level of 4k! still, 1USD = 1 USD.
November 28, 2018, 02:33:40 PM
It won't affect fiat currencies at all, it can not. Do you remember how it started? How ignorant we all were once BTC appeared for the first time? And then the moment when the governments realised that it may jeopardize fiat currency and they started regulating it. That was the reason why different regulations were applied to different countries, plus all the involvement of US government and all control. They had to make sure that the standard banking system will be protected even if the blockchain bubble bursts.
November 28, 2018, 02:18:12 PM
Yes it will definitely reduce the value of local currency. But this depends on the country and there level of bitcoin acceptance in such country.
Had it be we have a country that have a knowledge of cryptocurrency, people there might prefer to convert there local currency than leaving it in tha bank. And as a result of this, as time goes on, there will definitely be a gradual reduce in the value of there local currency.
Had it be we have a country that have a knowledge of cryptocurrency, people there might prefer to convert there local currency than leaving it in tha bank. And as a result of this, as time goes on, there will definitely be a gradual reduce in the value of there local currency.
November 17, 2018, 11:19:09 PM
of course not, the use of crypto currencies like bitcoin will not reduce the value of FIAT currencies.
isn't the FIAT currency regulated and monitored by government banks? while bitcoin doesn't. therefore, the use of bitcoin at this time will not affect the value of the FIAT currency
isn't the FIAT currency regulated and monitored by government banks? while bitcoin doesn't. therefore, the use of bitcoin at this time will not affect the value of the FIAT currency
November 17, 2018, 10:40:34 PM
No. Bitcoin or other cryptos are not that adopted to have any effect on native currencies.
You can say that for now but i don't think its going to remain like this looking at the rate of adoption in recent times. The future definitely is going to be with the cryptos and the earlier we prepare for it the better in order not to be taken by the surprise of its impact on our respective fiat currencies.
November 17, 2018, 10:22:13 PM
No. Bitcoin or other cryptos are not that adopted to have any effect on native currencies.
November 17, 2018, 10:20:01 PM
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?
If stores, markets, and banks have adopted bitcoin as a whole, of course this will have an impact on the reduced use of fiat currency especially in transactions, in this case we can see real examples like what has happened in Japan as a friendly country will bitcoin. The use of bitcoin currencies in Japan's tantamount to the use of yen, banks will still get income from the transaction costs incurred, both when converting from bitcoin to money or vice versa.
November 17, 2018, 09:25:43 PM
I believe that bitcoin will be widely used in the future. But we still can't do without the fiat money. Therefore, it is unlikely that bitcoin will be able to affect the cost of fiat money.
yes, all have advantages in their respective places. not at all affect the value of bitcoin against fiat and vice versa. in bitcoin what if demand increases the value of bitcoin will be higher and what if demand decreases and many sales value will decrease. Jump to: