Will usage of bitcoin reduce the value of native currencies? - page 7.

sampalokmix

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Investing in the future development of blockchain

Quote from: Ramya494 on November 06, 2018, 05:26:03 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?

I wonder also,but for the next more years the possibility that people will use Bitcoin the importance of usibg native currency will be lesser and lesser which will definitely lead to the value of the currencies not particularly only with the fact that the value keeps on degrading but goods nowadays will be tradeable only by using Bitcoin.

NelfiNovita

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Quote from: Ramya494 on November 06, 2018, 05:26:03 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?

it will not happen because the fiat currency is controlled by the government and banking, and people are still comfortable with this situation. Another thing if the cryptocurrency completely replaces the fiat currency, but it's very difficult because there are still many people out there not yet recognizing the crypto world at all.

Shafiqul Islam

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burst.money

Yes I think using bitcoin it has possibility reducing the value of Fiat currencies because online marketing, shopping and travelling completely using by online payments methods.

Amevalentine

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Quote from: javadsalehi on November 06, 2018, 05:36:02 AM

I don't think this happens. Fiat currencies are controlled by central banks and governments and do not let this to happen. It will happen only if cryptocurrencies completely replace fiat money. The probability of this is very low.

I think yes because nowadays the era of the modern world with the arrival of real bitcoin money that was once defeated by now in my opinion so much and thank you

dimiinx

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Quote from: Ramya494 on November 06, 2018, 05:26:03 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?

I think it might be possible to influence real money because what bitcoin is a digital currency and just came from 2009 and real money since the first and I think we are combined to stay on average even where the financial stability is good bitcoin or real money

KotiKo

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But not all people want to use cryptocurrency instead of ordinary money. Therefore, the widespread use of bitcoins is still probably far away.

rikybrosh

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Quote from: Ramya494 on November 06, 2018, 05:26:03 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?

If bitcoin is not exist the value of fiat currency will still decrease because of the inflation, we can't avoid it. Industries want the inflation hapoen so they can get more profit. The government keep prints money so the excessive amount of momey that spread in community will make 8nflation happen. The usage of bitcoin will save us from fiat inflation effect.

bndunlap

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I feel that Bitcoin isn't headed in this direction just because there are certain policies and regulations in place by national banks and governments to determine the value of a country's currency, and people in such roles serve a purpose to make sure that these national currencies don't tank. I have faith it takes more than the popularization of a payment method to take down a country's entire currency system. I think the only real concern of this happening would only be if governments started trying to find ways to better incorporate and moderate how Bitcoin could be used alongside a national currency.

messito

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surely fiat money will lose its leading position and after a while will simply disappear if the cryptocurrency takes their place

xp.rie

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Quote from: Ramya494 on November 06, 2018, 05:26:03 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?

of course not, that is your assumption that is not fundamental, in fact every user of bitcoin or crypto still uses fiat currency as a daily transaction tool. or something
and if in the next few decades, the possibility of technology will take over every transaction of one of the crypto candidates.

DennyPen

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I would rather bet on most countries inventing their own crypto and forcing people to use them. Only what you fully control can bring you maximum profits and give perks. So that would be a logical step from authorities. However, will they have enough power to make people use their own "better" crypto, that's an open question. But most likely "yes."

Rooster101

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Bitcoin is created as an alternative currency with no intention to replace other currency or reduce their values. It is natural for the value of the native currencies to go down or up because of its supply and demand but because of the cryptocurrencies. These native currencies are centralized or controlled by the governments and they have the ability to control also the value of the native or national currency.

zhengqi

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Bitcoin will definitely be used in many countries. With the help of it is very convenient to transfer funds, it opens up great opportunities. These may not be able to be ignored by governments for a long time and sooner or later it will be firmly embedded in our lives. Can bitcoin completely replace Fiat money? I guess not. This will completely change the economy and depreciate them.

CryptoToxicAvenger

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I believe that bitcoin will not be able to completely replace Fiat money. It will be very problematic. Definitely its use will be active, but only on a large scale.

leetcoiner

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Quote from: Ramya494 on November 06, 2018, 05:26:03 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?

At the moment, bitcoin and all cryptocurrencies are in puberty, if I may say so. All these metamorphoses and jumps in the rates only once again prove that we see the formation of a strong and completely new concept of using money. How long this period will last is unknown, but for 10 years it is a very good aging period.

131tc01n

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I don't think it affects the fiat currency, because fiat currencies are more inclined to the economic conditions of a country. Fiat in my opinion is still very necessary because not all can transact through cryptocurrency, where cryptocurrency is still constrained by the many fees

Pyr3x

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Active use and refusal of people from Fiat will really cause the fall of national money. But if this happens, it will happen in the very distant future, now it is difficult to imagine the complete transition of humanity to cryptocurrency. So Fiat will continue to thrive for a long time.

bitvelk

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Perhaps this will happen, but most likely, people will continue to actively use Fiat, because bitcoin will not be available to everyone. Not all people have smartphones, and not everyone will want to use digital currency. So I don't think national money will ever disappear.

Sandus_Cryptolover

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Quote from: Ramya494 on November 06, 2018, 05:26:03 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?

There's no correlation between fiat and Bitcoin as both operates on different platforms. Fiat operates on a centralised system by the CBN of the country while Bitcoin is Decentralised controlled by all users.

BuyBuyBitcoin

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Quote from: Ramya494 on November 06, 2018, 05:26:03 AM

Will the value of native currency fall down if the usage of bitcoin increases?

The weakest currencies with the most manipulation (Bolivar, Ruble, Indian Rupee, South African Rand) are going to continue to drop. The people in many of these countries have never fully trusted these currencies, bitcoin gives them a way to store value without fear of manipulation/fraud by the central bankers.

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