I think they will both exist in the future. The coexistence of the two has different sides.
In other countries cryptocurrency usage already increased but they still use fiat money.
Fiat money has the stable value compare to bitcoin that has unstable value because of market changing.
Topic: Will usage of bitcoin reduce the value of native currencies? - page 9. (Read 2028 times)
the government in my country has begun to worry, the minister of economy and finance in my country made a statement, that they will create digital currencies, but not like bitcoin. the aim is to compete with bitcoin and crypto.
this means that the spread and growth of bitcoin is getting better. and will threaten the existence of fiat.
this means that the spread and growth of bitcoin is getting better. and will threaten the existence of fiat.
Ofcourse not, it is a different currency because bitcoin is a digital currency and bitcoin and native currency can work perfectly together all over the world.
I don't think that the use of bitcoin can reduce the value of native currencies because the native currency is under the control of the government and the government will do anything to protect it. Besides, the use of cryptocurrency is currently very low to threaten any native currency.
i sincerely don't think the continuous use of bitcoin will reduce the value of native currencies. Bitcoin is online money while native currency is physical money. though both serve the same purpose which transactions, they both operate in different ways. for now bitcoin wont reduce the native currency value but let's just watch what unfolds in the nearby future.
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?
The value of native currency is dictated more or less directly by the economic power of that country and the government/financial politics. If people buys gold then dollar gets weaker? No.
But the financial politics are made in a way the national currencies decrease in value "by themselves", with no help from Bitcoin. Very slowly, but they do. It's the inflation, and even 1% per year is still inflation.
Well, at the present time, this is quite unlikely as they are different forms of currencies. One that is physical and one that is digital thereby has separate markets. However, in the future, once digital currencies are more widely accepted, then it may affect the value of the money that is more familiar to many people now.
The usage of bitcoin or any crypto currency would not in any way reduce the value of native currency at least till the nearest future because as at now, there entire market capitalization is not even up to a to the value of Amazon or Microsoft which has been valued to worth over a trillion dollars now comparing that to only the companies in the United States alone and not extending it to other countries of the world before looking at the GDP of their respective economies.
Bitcoin and other crypto currencies would only serve as an alternative to the millennials and few others in the previous generation that are willing to adapt to change while the native currencies continues to hold sway in every of human financial dealings.
Bitcoin and other crypto currencies would only serve as an alternative to the millennials and few others in the previous generation that are willing to adapt to change while the native currencies continues to hold sway in every of human financial dealings.
I don't think that it will happen because cryptocurrency will always relies on fiat. I've heard that the Government of US doesn't really care about Bitcoin because it doesn't affect Dollar in a negative way and they don't see any threats to it except for scams.
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?
you should try to learn about bitcoin, the blockchain from the first was created. there are insights that you will get for free. yes this is for your own interests if you want to be involved in the crypto industry
This will be unlikely. Because Bitcoin still exists in parallel and depends on Flat. Bitcoin has the ability to dominate the market. Flat still proves it's the number one deal by its convenience and simplicity.
fiat is essential, for you to be able to have cryptocurrency to be spend with your different transaction you need to buy it and you will use fiat so there is no reason for fiat to be dissolve in our everyday life.
iI really think there is much to tht that is why most govrernment oppose the idea of btc, but i hope with time and with the trend of bitcoin if it takes over the world it will overshadow the use of all native currencies. It is the hope of our currency.
It seems that it doesn't affect because the money circulating in each country is still superior for transacting, a lot of bitcoins have been stored as assets. Will affect if this bitcoin has been legalized and all people use it in daily life.
For me, I don't really think that the usage of Bitcoin will come to reduce the value of the native currencies. Because, fiat currencies are controlled by banks which is under government. The government too, will not let this happens because they will take an immediate action towards this. And for my instinct, this will only have a possibility, if and only if the crypto currencies will truly and definitely replace the use of fiat currencies.
fiat and centralization will always exist. at least in our lifetime because the centralized world that controls fiat is too big and too powerful to simply go away because a new and better currency came along called bitcoin which happens to be decentralized and out of their control.
there is a big infrastructure based on fiat and that centralization, and that doesn't go away easily either.
besides bitcoin does not aim to replace fiat so there is no reason for it to do that either.
there is a big infrastructure based on fiat and that centralization, and that doesn't go away easily either.
besides bitcoin does not aim to replace fiat so there is no reason for it to do that either.
I'm no economic expert, but won't supply and demand impact value? If we all start using bitcoin, and there will be less demand for fiat, won't its value be affected?
yes, of course, the more bitcoin will be used in the world, the more nat will fall because people will start to trust bitcoin
yes, the value of the native currency will fall when the demand for bitcoin increases higher, the function of fiat will be limited, and will only be used by some primitive people, and some people don't like the growth of bitcoin and they try to make FUDs that can make bitcoin fall.
I think, it's not important to answer their opinions, it will only waste time, and they will regret when bitcoin dominates every transaction value.
I think, it's not important to answer their opinions, it will only waste time, and they will regret when bitcoin dominates every transaction value.
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?
let time tell
no one can confirm it all
Fiat is still needed for offline transactions, at least for now
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