Bitcoin Forum

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 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  fiat currencies are loosing value all the time regardless of bitcoin... the price of bitcoin doesn't have to change for it to increase in value against fiat

Well probably it has a point. But then, the value of the currency depemds of what currency it is. As we can see the USD has a stable economy but then there are analyst who says that dollar is going down.  But then we can conclude that today bitcoin do not have an effect.

Well, for now, I don't really see it happening for one reason. Whenever people trade something that involves bitcoin, they always see the equivalent of USD or other fiat currencies.

I hope that native currencies like USD or EUR will not have the control they had last decades thanks to bitcoin. But I don't think this will happen anytime soon.

most people feel they need fiat for a transaction, most of them don't know about crypto.

Wich people are trying to let down BTC?

We can try to answer a few of them, keep the question coming. But make some research online, or in the forum, so much covered already.

It's not gonna happen. Firstly, governments would sure prohibit the use of foreign currencies from the start and forex wouldn't even exist. Secondly, there's not much people using bitcoin for daily transactions as most things are still priced in fiat. Even online stores are hesitant to accept bitcoin as a payment method due to the risk volatility carries. Lastly, bitcoin will never be a currency that could take on USD and EUR. While it can exist side-by-side with the said currencies, it can never go head-to-head with these guys in terms of usage.

Considering the obvious trend of digital value replacing physical value and government restrictions on data localization actually hampering countries' gdp growth, I think this is inevitable.
https://www.ft.com/video/b17bba5b-5c79-4534-b81d-24c2eb95d1b4

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.

The value of all "native" currencies is going down and will continue to decrease,with or without bitcoin.
We can't stop the massive printing machines ,called Federal Reserve System and European Central Bank.
The problem is that most of the people believe in the illusion that the USD and EUR are "stable" currencies.

No assurance that it will fall just because of bitcoin's demand has increased. There should be many factors before local currency would fall and one of it is due to financial/world crisis.

Bitcoin is decentralized and the native currencies you are asking is centralized. There's no way that a government backed money will be reduce in value unless there's a big inflation for that country. That's another way of devaluing a currency just like what's happening to Venezuela today.

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.

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

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.

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.

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.

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

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

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.

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.

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.

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.

Yes, so I think that each state will have its own cryptocurrency with its own value

How could that happen if we are always converting every crypto currency into USD?  ;D
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.

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.

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.

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.

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

 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 .

I think it will not happen in short terms, but it can happen in long terms...

let time tell
no one can confirm it all
Fiat is still needed for offline transactions, at least for now

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.

yes, of course, the more bitcoin will be used in the world, the more nat will fall because people will start to trust bitcoin

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?

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.

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.

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.

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.

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.

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.

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

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.

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.

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 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.

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.

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.

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.

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.

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.

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.

Increase or decrease in bitcoin value got nothing to do with what happened to fiat. Fiat is printed by the government of the country and managed by the Central Bank thus explaining the centralisation of it.

I definitely agree on you.Even if mass adoption for bitcoin will soon to take place,fiat currency or native currency will not be easily broken or fall down.Of course it will continue to live in this digital world because people are already used to it.And it will never reduce its value from what i see for now.

If you compare between crypto and fiat, they are complete different things.
So it will not affect on native currencies or fiat , I can guarantee !

People may have different alternative for transaction so it will increase their mobility around the world !

For me this has a point while we are using bitcoin or other digital currency will reduce the value of our native currencies because we are all mmnow use and we all now save our bitcoin as savings and investment that before we are doing it with our natural currency. But I think this is okay because for me the maine purpose of any currency is to help us to make our life better and to buy our daily needs not only a trademark of every country. And the bitcoin provide it for us so even we feel that we dump our natural currency it is okay if exchange of it is a better life and future for you and for your family.

Nope, I think not since a lot of people still do work and people who works there tend to receive only "native" money there and I know that Bitcoin is not yet stable to be called a currency.

in my opinion it could be detrimental to the original currency because like the real money is lost and increasingly not used and it will harm real money if bitcoin develops in the world I think like that

Off course if the bitcoin use is increases the people of the present currencies will reduces but still the native currencies will be used more than 70% of the public and the 20% will use both fiat and crypto while at least 10% of the public will shift fully to the crypto side but somewhere we need native currency to fulfill our daily needs but up to business it is true that bitcoin will change the monetary system of the world.

Still, it might not be enough for fiat to continue losing its value. Currencies go down and up all the time, it doesn't mean that it will lose its value just like that just because of bitcoin. Especially not USD. It's way too big a currency to lose its value over a virtual currency just like that. Plus, there are still more people using their native currencies. Even us, bitcoin users, we still use it today because it's what allow us to pay for goods and services. Doesn't mean though that bitcoin have lesser value over fiat.

I dont see the relevance. Bitcoin’s value is based on fiat and fiat’s value in every locality is determined by their local currency, so every transaction in bitcoin does not affect at all any native currency, it just reflect the value. Native currencies just serve as mirrors that reflect bitcoin’s value based on fiat. Bitcoin is not a property of any nation or locality so No reason it will affect.

I think it will still be used as the main transaction even though bitcoin is growing in the future because there are some things that Bitcoin hasn't reached to be able to defeat Fiat.
1. Bitcoin does not have security and high popularity compared to Fiat
2. Bitcoin has a price that almost always changes every hour
3. Bitcoin doesn't even have legality in some countries.

Nothing will change fiat, because people still use it. Like bitcoin as based of crypto, fiat is base of common currency. And don't forget if not all people in this world already touched with an internet.

If the turnover of any national monetary unit decreases, its emission should be decreased too. This ultimately should lead to an increase in the value of this currency. Therefore, the introduction of Bitcoin into circulation should contribute to an increase in the value of national currencies.

yes, it will fall, because if digital currencies continue to increase both in quantity and in trade traffic, this will directly marginalize the role of the central bank as an institution that has the authority to print and determine the money supply.

Local currency is stable and it cannot decrease its value anymore ( except from others like usd which can somtimes decrease but the decrease is only small though it can also recover from its fixed rate )

Local currency is still the one that people will use before they buy a crypto , so local currency will always be indemand than compared to cryptos .

Instead , we can say that other values of cryptos such as altcoins and tokens will reduced if people will only buy more bitcoins .

If bitcoin will accept every where as a payment method then I'm sure native currency uses decrease surely,but now I don't think like this.

I don't think if the usage of Bitcoin will reduce the value of our local currency it is because of the fact that majority of our fellowmen are uneducated about Bitcoin, or adoption is not that wide I mean Bitcoin is just an option in terms of usage as it can't be used as for daily expenses or whatever it should be due to some technical reasons. Here in my country, I think 10% of the total population uses Bitcoin and for me it does not affect the price of our local as it was based on dollar rates not in Bitcoin or any cryptocurrency.

There is no connection between Bitcoin usage and the value of the money used in different countries. Even when BTC becomes extremely popular globally, fiat will be used everywhere as usual.

If bitcoin completely replaces national currencies, and their use is minimized, then it will really fall in price, as people simply will not use it. But the probability of this is very low.

no. Fiat currencies are controlled by central banks and governments and do not allow this to happen.

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.

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.

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.

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.

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

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.

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.

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.

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.

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."

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.

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

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.

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.

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

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

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

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.

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.

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.

it seems that whenever the fiat currency will never be lost in the presence of a rotated currency, because the digital currency is to be used as an asset to earn income and certainly also little use for the transaction tool

Bitcoin can not replace the usage of any country fait money but bitcoin can reduce the value and usage of such currency due to the unique role it play's, why bitcoin can not totally take over the entire economy from the traditional currency is due to the fact that there are some goods that can be paid for only with paper money and bitcoin is a digital currency. So at that bitcoin can only be use as a secondary currency.

no, I don't think so it will take some more time to bitcoin for mass adoption and after that also fiat money will be there it will no vanish.

I don't think so, however, we will need fiat money as a transaction in the real world. except if every country has adopted digital technology such as bitcoin to be legal.
what you say is sure to happen

Yes, if native currency still in form of paper money/then the answer is yes but if the native currency is in form of gold then bitcoin can't give any impact to gold because usually the price of gold is move inline with commodity such as rice, weath, meat and etc. People prefer like to do transactions via credit cards rather than cash, the trend is move, in the future people will prefer like to use bitcoin and other cryptocurrencies for online transaction.
 

For the short term, bitcoin does not affect the value of fiat currency, but for the future when bitcoin is widely accepted, bitcoin will be able to reduce the value of fiat currency.

Older people will never understand or accept crypto at all. In addition, the crypto address is easy to lose, forget the key to it. And no one will return the lost money. How to deal with this? The state must take care of its citizens and protect them. And how to do it, if the crypto currency is anonymous?

This is still a topic for debating on. At the moment cryptocurrency that is bitcoin and the rest has not gotten a wide acceptance as that of native currencies and bitcoin is not a physical currency and it's technological based there are some hindrances to bitcoin out muscling native currencies

If and only if the bitcoin will be started using in day to day needs then I think that bitcoin can increase in value and people will ditch their official currencies of their country and then maybe bitcoin will be officially recognized world cryptocurrency. This will surely impact the national currencies but the bitcoin adaption will be a problem in those counties where there isn't a reliable internet connection and infrastructure for people to use the services and thus they would have to stick to fiat only.

In my opinion, that possibility can happen. If the use of bitcoin as a tool for payment has gone global. Where people prefer bitcoin for global transactions, instead of using fiat money

i dont think the usage of bitcoin will reduce the value of native currency but rather they will both co-exist as one cannot buy small items with bitcoin especially to petty traders. bitcoin has its onw special function while native currency has its and it will be much better if they both co-exist.

They may co-exist with each other and people will have more options to choose from whether they utilize the traditional ones or opted for a more convenient way of transacting financially. It all comes down to user acceptance and trust. So far, for BTC, it may seem that the trust is fading. But, let us not lose hope. Better days will surely come.

It's a faraway future, I guess. Meanwhile, they co-exist and do not influence each other

Now nothing depends on Bitcoin at all.He is too much from what depend.While the situation on the market is not stabilized, these issues are not relevant at all.Don't know what they're doing with bitcoin,but the schedule just looks dramatically.

Majority of the people will continue to prefer their native currency because it is more convenient for them than the cryptocurrencies. Their usage for fiat will continue to boost its value and the virtual coins will remain as alternative currencies because they ard not yet fully adopted in many countries. Digital currencies need internet to be able to use it while native currencies are always available offline.

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.

I don't really think that bitcoin can reduce the value of native currencies. Afterall, it's the native currencies that people are still using as their medium to buy products that they want in everyday living. Bitcoin is just an alternative to fiat and other people are making bitcoin as source of income to earn fiat.

  The usage of Bitcoin will never reduce the value of native currencies Bitcoin value is determined with fiat and that is determined with fiat currency value of the localities local currency so it is difficult to believe that Bitcoin transactions will affect the currencies of their locality it may only reflect in value . Even though Bitcoin has attains a popularity globally some countries do not legalize Bitcoin, the value of Bitcoin fluctuates in every hour all are not aware of this digital currency even though Bitcoin is a decentralized in nature that means no third party influence in the transaction of Bitcoin .The transactions are cheap and easy for international uses since there is no third party or even the bank interference its transaction is peer to peer . Bitcoin transaction is done with the blockchain technology so it is corruption free this transparency leads people to trust Bitcoin even though it has grown Bitcoin can't stand by its own without the reflection of fiat currency.

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.

Because cryptocurrency like bitcoin not controlled by any authorities, i think bitcoin and fiat money will run side by side. I am still thinking that people still need fiat because it already used for many years and to measure economic growth.

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.

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.

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.

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

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.

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.

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.

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.

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.

 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.

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

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.

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

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.

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.

What do you mean with "value"? Your beloved ( :D ) 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.

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. .

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.

Absolutely right! It is weird to try making any connection between the cryptocurrency and the traditional money. Even when all people will start using crypto, it will not affect national currency.

- Sure, the use of bitcoin will not reduce the value or affect the national currency because most people who know about bitcoin, understand the benefits of it, they always choose bitcoin as their number one investment, they do not consider it as a currency, that will waste the features and value of bitcoin. In addition, the number of users and know about Bitcoin worldwide remain at a very low level and with such numbers, it is difficult to form influential for national currency, this is also the reason why bitcoin can exist so far without being destroyed by the government

Though it was intended to be like that, I don't think that cryptos will ever replace fiats completely. Since, it would be a long  process and it would have some very big loopholes that need to be taken care of. In the mean time, why don't we all focus on making crypto better, eradicating every problem that comes with it?

I think for this to happen BTC must be available and the best option of payment in any part of life. My long term hope is this but we are talking about much into the future.

By and large, bitcoin is created to unite people and remove borders between States.Someone is mining bitcoin and selling it for Fiat and someone buys it.(within the borders of one country).The total capitalization of bitcoin today is 73 billion dollars.That is, it is unlikely to radically reduce the cost of its own currency.Even if hypothetically imagine that all mined bitcoin is within the same country it will be unlikely.The fact is that all extracted bitcoin is scattered around the world, and it is unlikely that it will unite with all holders and somehow affect the value of any national currency.

of course not because the real thing that has an increase and a decrease in price or currency is actually bitcoin which can sometimes fall very badly, now starting from here we have to be smart in carrying out this investment.

what you say is reversed, FIAT is still good, what value is down?
even altcoins that only have a pair with USDT even remain stable and can still go up, precisely if the pairing with btc altcoin will worsen the atmosphere, people still sell altcoins with btc pairs, then they sell again with FIAT pairs. that's the plot. If it is intended for investment, it will be seen that BTC and Alts look good. But to get ROI, I'm sure you will definitely return everything to FIAT

Everything  now will happen. Bitcoin  as a digital  currency has been created  for  every online transactions If the usage will increases, The demand is high and it will give better effect  of course to the native currency. But it depends upon the volatility of bitcoin. Still we need native currencies as the central banks  to monitor and control the economy of the country. We still both need them for the better future.

Naturally it would be happened because day-to-day people concerned with bitcoin, blockchain, online virtual currency and they lost their agreement from Fiat native currency. So just be natural.

And according to the phenomenon that I recently observed is that if it continues to be a replacement for the currency and a common currency for all sectors and people. As I see it, this is no longer a movement but a new personality, new behavior in the future. And I'm happy if it comes any sooner in the near future ::) :P.

Bitcoin does not completely destroy local currencies. However, it will be used with domestic currencies. This has no negative impact on the currencies of countries.

Of course it will not affect each other, because the segments are different. For bitcoin, the USD currency is only a value reference for one bitcoin. So anything that happens with bitcoin does not affect the value of USD, and vice versa.

Bitcoin is not here to eradicate our traditional fiat currency but to work together with our traditional banking system to bring improvement and make financial transaction accessible to all. Even with email our traditional postal agencies are still in existence.

It's hard to say value of native currencies will reduce because of usage of bitcoin. Actually, many factors could impact on native currencies' reduction, such as usage of mobile payment and credit card, national economy and so on.

I don't think the use of bitcoin has any effect on the value of fiat currencies beside the goal of bitcoin is to eradicate or affect traditional currencies. I believe without the fiat currencies such as dollar USD it will very difficult to make use of cryptocurrencies in many countries so I will say both work together.

At the moment, Bitcoin (and other cryptocurrencies) cannot replace Fiat. Digital currencies are used more as a means of investment and value preservation than as a means of payment, so at the moment there is no reason to worry that cryptocurrencies can harm local currencies.

Reducing the use of fiat is not possible with the use of crypto, because currently crypto users still cannot use ceypto anywhere and anytime. however, if crypto is legal throughout the world, fiat usage can actually occur.

Crypto and the national cryptocurrencies live their own lives. There is no connection between them. Even when a person is a trader, he will always use fiat and credit cards as well.

Its like demand and supply, if bitcoin used more than fiat and demand on bitcoin increasing, fiat value must be down againts bitcoin. But maybe its not affecting with others fiat money.

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.

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

 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.

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.

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.

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.

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.

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.

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..

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

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.

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

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. 

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

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.

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.

if in my opinion. that's for sure bro. especially in countries that have accepted bitcoin as a legitimate currency such as paper currency. but if in Indonesia. the government still prohibits bitcoin from being used as a tool to buy in the real world.

I think, there is no connection between fiat money and the development of bitcoin nowadays, because without bitcoin, many people rarely use fiat money because they are often transferred directly from bank to bank

I don't think it will reduce the value of real currencies, because the use of bitcoin as a digital currency remains not as much as the use of real currency. In addition, bitcoin is used by the upper middle class who master technology where not all countries legalize it.

I think this discussion will never be completed until crypto becomes a currency that is legalized in all countries, this certainly concerns bitcoin.
I think that bitcoin in the future will be adopted by all countries in the world and leave Fiat as a transaction tool. but this will certainly require a very long time.

it seems like it doesn't, if more and more are benefiting bitcoin like it doesn't really have a big influence on the price of the original currency, and like that we still need fiat to transact in crypto and in the real world. and what I'm still confused about is why the BTC price still goes down even though it looks green even though it's a little.

no it woudnt happen, as i know that bitcoin usage is not affecting anything, but bitcoin demand and stock is affecting bitcoin price and other cryptocurrency price, but it dont affect the native currency or other currencyS

Of course, bitcoin can reduce the use of Fiat money. But it won't happen because governments won't let it happen. Bitcoin has many advantages over Fiat money and if it is well embedded in our lives, the use of Fiat money will be useless. Therefore, I believe that bitcoin will exist as a second currency.

Now bitcoin is not ready to replace Fiat currencies, for this it needs to solve some problems. But in the future, I believe that he will be a great competition for them. Countries will not allow the depreciation of their currencies and therefore they will not allow bitcoin to take a leading place.

How can it possible because bitcoin and fiat currencies are two different... Bitcoin which is controlled by blockchain and fiat money which is controlled by bank and government.

Western Union, the financial services company, is looking to have a role in the cryptocurrency space.

https://coincodex.com/article/2782/western-union-executive-discusses-cryptocurrency-says-company-is-open-to-crypto/

I dont see this happening soon . Cryptocurrency and Fiat are somewhat dependent on each other. youll need to convert your Cash to Crypto to use cryptocurrency and Crypto back to Fiat to use fiat in your country.  
Stabecoins are pegged to fiats, by the way. This i believe will help fiats greatly
 Maybe things will change in the future when p2p transaction with Bitcoin/Crypto becomes common in most countries

The value of the national currencies will decrease regardless of what happens to Bitcoin: incompetence and corruptness of central banks and governments will force this process. In the world of devaluated fiats, the top cryptocurrencies hold ground.

I don't think so. Native currencies are still very essential in everyday lives of many people. And even there is bitcoin. The value of native currencies still remain the same.

Fiat will not easily lose its value because of bitcoin, fiat will survive because it is regulated by the government. I think both run on different paths, and fiat will survive.

Maybe not for now, but i dont know in the future. If peoples using crypto more than fiat currency,
one sure thing is the value of cryptocurrency will increasing because of the demands from peoples who using it.

There is no correlation to native currencies as they can co exist.
People are investing in bitcoin because of the possibility that the demand will increase and their value will increase, but in general bitcoin is not really an investment but a system where we can use to transfer money in decentralized way, of course a lot of benefits we can have like fees, and transaction speed.

i dont think use of bitcoin will reduce the value of money as i feel it its better if they both co-exist. while it is easier to make huge transactions with bitcoin, it is easier to make small transactions especially in market places with native currency

well sincerely no one knows but it will be better if native currency remains where it is as there are several things one could purchase with native currency easily than using bitcoin

The purpose of digital currencies creation isn't for making native or local currency become no value. Instead it provide us other option to make easier for us doing Online transactions as mostly engage into today. 
Local currency will still remain in its value as we used it regularly.

I agree.Bitcoin is not created to compete with the native currencies.And it's really far from possibility because bitcoin is not yet adopted by the government so people are still using it as another option for payment particularly in online.Majority of the people are still using native currencies.But maybe if bitcoin will have a mass adoption in the future,then that time our native currencies might be already affected.

If most peoples start to prefer using bitcoin than common currency / money, then of course it will makes bitcoin more valueable than
fiat currencies / money, but not reducing the value of fiat currencies. For now, peoples still need fiat money to buying and selling things.

I think it depends on the use of bitcoin, if it is used as a payment method, bitcoin will be able to influence the decline in the value of the original currency.

Uhmm I do not think, it would have to be something too massive for that to happen, remember that many businesses are made with gold and silver, so the fiat did not displace that exchange rate, the same surely that will happen with cryptos too, like a type more currency, that we can use for our transactions.

I don't think that's going to happen for any reason.
Bitcoin is too volatile until and until its price is stabilized people will not hold bitcoin for real application.
There are no places to use bitcoin. Payment for goods and services plays an important role in the formation of the cryptocurrency, and while we see only rare transactions for purchase or transfers in some more developed countries.

Totally agree with you. We do not yet see the negative impact of cryptocurrency on lower prices fiat. For example, Japan last year received a few tenths of a percent of its gross income from the use of cryptocurrency, that is, the economy only benefits from this, which means that local money is strengthening, that is on the contrary, fiat only grows in price.

If people switch over to bitcoin for purchasing then the governments will lose a lot of tax revenue, which won't help the debt situation. Native currencies will fall when bitcoin goes global mainstream

no, forever bitcoin can never dominate fiat money. fiat will remain the primary payment tool.

Even if this happens, it is not very soon. It is unlikely that people very quickly switch from the usual national currency to the use of bitcoin. For example, in my country, not all people even use a Bank card, let alone a digital currency.

The value of individual currencies is not determined by the use or non-use of cryptocurrency. Economic indices affect the value of a nation's currency. the use of atm cards or the use of cashless technology has not and does not affect the value of the currency. The use of bitcoin will open up the economy and financial sectors to alternative channels and means of doing business. Let's exploit it.

I strongly believe in the prospects of bitcoin and that it will be a single global currency. But unfortunately, there are so many people who will continue to use Fiat no matter what. Therefore, I do not think that there is a serious problem of replacing national money with bitcoin. They will be used in parallel.

I am also more inclined to believe that bitcoin will simply be a great alternative to national money, but will not replace them completely. So maybe he will reduce the usage of Fiat, but in a very slight degree.

Everything not related in crypto should not get affected of crypto and alt coin . micro transaction its needed daily . and hand to hand transaction ofcourse people still needed . no way people in this world become fully digital . crypto currency more like for Digital transaction or alternative digital payment .

I think hard for bitcoin become world single currency because most country in the world againts bitcoin. I am believe bitcoin can side by side with fiat money but i dont think bitcoin can be a single currency and replacing national currency

I agree. This is possible but it is hard for cryptocurrencies to cope. Investors of bitcoin or any other cryptocurrencies are always looking for the fiat conversion.

For the sake of OP's question, yes I think it will decrease the value of fiat. People will more be concentrated on one medium and so it will decrease the other medium. Though I know the government will never let this happen.

Certainly, bitcoin and national currencies have advantages in their respective fields, these two currencies will not clash. both will run together in their fields. I think bitcoin will only be a strong alternative intermediary. Bitcoin users who are increasing will not affect the value of the national currency.

I couldn't agree more. Bitcoin being use by a massive number of people will not reduce the value of the fiat currency for a reason that bitcoin does not replace it completely and for that the value of fiat currency stay the same. Also as what you have said, governments will not allow it to happen because fiat currency is still what they want and whay they control.

it is already a thing that people have made up their mind on. the idea of native currencies don't rule the finance industry that much again if you ask crypto die-hard fans. it is crypto all the way even 60 percent of online transaction are now crypto. the global adoption of crypto will see the elimination of native conventional money

- I really don't see bitcoin being used by a large number of people if we compare the number of users to the world's population, the percentage is extremely low, and with such data, using bitcoin will not reduce the value or affect the native currency. In addition, most users only use bitcoin for investing, trading altcoin, they never plan to use bitcoin as a currency, and as you say, the government does not allow this to happen, this is not a legal currency, combining all the information, we can see the impact of using bitcoin on native currency is almost zero