Bitcoin Forum

Sorry if the topic sounds logically flawed I didn't dig much deeper into the financial fantasies of such.

I'm wondering what if one day Bitcoin goes so high up in value that it causes somewhat a fiat crisis? I mean imagine, you've Bitcoins but there isn't much cash available in the market to buy your BTC, or simply put people can't afford it? Will bitcoin be of any value then?

For me, if ever BITCOIN will surpass the value of fiat money. Fiat will still stay and Bitcoin too. Some may not be comfortable using Bitcoin for their daily lives or in some cases payments. Some people may only buy or use Bitcoin as their investment, a store of value.
As I saw on some country with their fiat become useless with the hyperinflation just like Venezuela, their fiat becomes useless but I believe that they will recover, some people there already using Bitcoin but some don't want it or they don't have any idea what Bitcoin is.

I see no problem with it. Why would it cause a fiat crisis? Bitcoin rising so high as to the point that all the world's money in circulation cannot afford it only means that it becomes so precious. That wouldn't spark a crisis because that would mean Bitcoin will only be sold in much smaller fractions and the rest is kept.

The opposite wouldn't be a problem either because if, all of a sudden and for whatever reason, people would suddenly decide to sell all their Bitcoins, its price would also significantly fall down. So there is no possible scenario in which all the Bitcoins are sold to the public and the amount of money available cannot afford all of them.

Fully agree
Here:
"Fiat will still stay and Bitcoin too"

It won't matter any more when BTC price reaches ginormous fiat value, this is what sats are meant for.

RD.

Bitcoin is black hole for anything with fiat value.

It'll continue to get chosen as the preferred money due to it's properties. As it becomes more & more obvious people's savings are being evaporated by governments/central banks, Bitcoin will become a no brainer to the general public. It's saving technology.

For now, Bitcoin is rapidly becoming know as the digital gold; I think it's clear more & more people will continue to favor it over gold. Especially millennials.

Despite the skepticism of The Lightning Network, I believe it will become the second layer on top of Bitcoin - the currency layer. The future is denominated in sats. It is open-source code & completely unrestricted - it is growing extremely fast compared to anything built on a regulatory framework - the current system only hinders innovation.

2 years ago I struggled to get a Lightning node up & running, now there's mobile wallets like Phoenix & Breeze which allow anyone to benefit from it's tech with very little effort. There's zero configuration required; you receive an on-chain transaction & the rest is taken care in the background for you. It also runs on TOR by default, which is a massive privacy boost. We are definitely headed towards a self-sovereign world - no regulation can properly stop this tech. This technology will reshape governments & the entire world.

The chances of fiat money losing value wouldn't happen because the government is just going to print more and more money, and there wouldn't be any shortage of cash. It's just the value of it. BTC had already overtaken it even before it reached ATH. The value per bill is less than the actual value it has for sure, but it's the paper bills that cost more than the bills over time.

I'm not sure if that's what you mean, but that's what I thought about.

If bitcoin value is getting too high means the value of fiat is going useless so people are using Bitcoins more. The story of money still remains the same, people who got money/btc can buy their needs and one who is struggling to make will spend their entire life time as a slave worker.

Fiat can be printed from the air by governments and they proved they can do it in the pandemic through Quantitative Easings (QEs). What is quantitative easing and how will it affect you? (https://www.bbc.com/news/business-15198789). They only care to maintain artificial economic growth that all relies on thin-air-printed money and can be collapsed at any time if they stop QEs.

The true and big problem is will governments allow bitcoin rises too high in value and some bitcoin whales can have their assets are bigger than many nations' net-asset values. It is a big question. If bitcoin gets its price at $300,000, a person with 200 bitcoin can have total assets at $60 million. Whales have more than 200 bitcoin in their wallets obviously.

Anything that has got real-time usage will grow slowly. With bitcoin, we're experiencing the same. For what OP has stated, we can't be judgemental. There is possibility after hundreds of years.

Governments slowly need to adopt bitcoin and take into consideration using bitcoin for every day needs. Slowly the currency printing need to be lowered and then stopped. Further the physical currency into usage needs to be taken out adding bitcoin to the market. Do anyone think this is possible, if so there is chance of bitcoin overcoming the value of fiat money.

I think you got it wrong about fiat losing value. The more they print, the lesser the value, that is why many people objects about the 2 trillion stimulus package, this will devalue the money. Remember Zimbabwe and Post-war Germnay, they printed a lot of fiat and they all went into hyperinflation.

Sats are a thing. People would simply buy it in smaller amounts, Bitcoin could be measured into smaller numbers so instead of 1, you can simply use it as 0.01, 0.001, etc etc. Simply as that. Besides, we can't completely just replace Fiat with Bitcoin, it just isn't logical imo. It isn't like Bitcoin is supposed to be the number one used, it's a currency, I don't think it's supposed to be a competition between the two. They can live side by side, especially since some people would most likely keep on using Fiat. It could also mean that Bitcoin itself has become a value that has exceeded fiat, and can be used as such. It isn't like fiat is the only asset that could be used to transact with Bitcoin, when it itself is a currency. It can be used for transactions with land, businesses, corporations, deals, etc.

If such things happen, it will be a fiatless world. You can purchase everything with BTC. You don't need to have fiat anymore to purchase things. People will consider fiat as a hassle.
And of course the above post has a point. We have sats, that will be counted too in that time.

Not possible at. BTC price always reacts on Fiat market situation. Just like what happened when COVID-19 hit that cause stock market plummet tremendously. Although BTC should not be affected since its digital but it follows the trend of the stock market. This will be the same to Fiat money. There is no way BTC will attain that value since Fiat is the one that making price pump. If there is no more Fiat, It means that BTC will gonna collapse because Fiat is what people use to purchase things and not Bitcoin. And for that to happened, I believe it requires all Billionaire like Jeff Bezos, Bill Gates and Warren Buffet to be heavily invested in BTC since they are holding the majority of the Fiat except country funds ofc.

If fiat won't exist anymore then what will be the value of each bitcoin? Bitcoin's price is dependent on fiat, without this bitcoin would also be worthless.
Using bitcoin as payment is really convenient, if you're thinking that if bitcoin's price is way too high that its amount of it in fiat is so much then I think only few people will have the capacity to own and use bitcoin considering the fees when sending using it. Bitcoin will be an investment like gold rather than a mode of payment.

I'm talking about the cost of printing the actual bill not the value of what's printed in it. You are probably talking about inflation but that's not what I'm talking about. Check the bolded part in my first post, I said it's losing value. I didn't say anything about inflation.

I think it is still a mystery, because as we all know that the movement of bitcoin is volatile. So while there is supply and demand everything is still fine. Especially for fiat currencies when the price of bitcoin is too high there will always be a low value that will happen and it will repeat itself, because when the price is high and people cannot reach it, the owner of bitcoin will also lower the price so that it can be bought, I think this is logical .

It's theoretically possibly. But a better question is, how likely? I don't think the federal reserve would allow such thing to happen; and you could guarantee that they'd do anything for it to not happen.

Another possibility would also be that the federal reserve would use bitcoin to back the value of the USD à la gold standard. While I think it's unlikely to happen, it's definitely not beyond the realms of possibility.

It is theoretically appeared if one of two situations happen.
- Bitcoin skyrockets to very very high price, millions of dollar for one bitcoin. That can be but in a very far future.
- Bitcoin adoption sees massive flourish that creates a massive new bitcoiners. They early and greedy to buy bitcoin and use bitcoin to buy shit altcoins. I mean they will spend their fiat to both bitcoin and altcoins.
It might be a combination of two situations: bitcoin rises to high price but not millions and crypto adoption flourishes.

It is more related to stable coins or Tether USD minted amount, not gold. Stable coins are more favorite to use for buying bitcoin and altcoins. Fiat is not commonly used as stable coins. Will governments allow companies as Tether grows too big like that and especially from all law suits on them we saw?

Simply it will be 1 BTC= 1 Bitcoin which it is now. If there’s no fiat exist any day, where the needs of measuring BTC against anything? May be GOLD will be measured by BTC like 10 grams of GOLD = 0.001 BTC  ;)

Here's what I was referring to when I mentioned gold standard: https://www.investopedia.com/ask/answers/09/gold-standard.asp

As for stablecoins, you're probably forgetting that fiat(USD in particular) and stablecoins have the same value; so I don't get your "Fiat is not commonly used as stable coins" part.

Well, it might be possible; but far from the reality if so...

Bitcoin is volatile speculative investment and though its scarcity create more demand and in turns make price grow. Surpassing fiat is already happening but not on the idea that bitcoin couldn`t be bought by a real fiat value. There are hierarchies in the market and gold is an example of it. Dollar is backed by gold. So, it turns out that in the near future, possibly bitcoin could surpassed that standard. However, we are not gurus of the market but definitely as what you have argue about fiats "aren`t be able to buy a single bitcoin" because it is too expensive is far from the fantasies even the federal reserve, banks and government.

No asset can rise infinitely, including Bitcoin. How is the argument that fiat is doomed because of inflation, so Bitcoin will go to the moon is any different from the same argument that goldbugs make about gold? Yet gold didn't show any insane performance, even in this year when a lot of USD was printed.

Bitcoin rising so much in value will only mean that, it will  become so precious and scares, that is, those holding will hardly want to sell and that will continue leading to the increasing value of Bitcoin. However, in the aspect of Bitcoin rising so much that it causes a fiat crisis? I do not think so; my reason is this, we should always remember that fiat belongs to the government, that is, the government controls everything pertaining to fiat, and I don't think they will ever come to that level of having fiat crisis.
Nevertheless, what I think is, the more Bitcoin rises, the more the price increases, and it will only be a selected few who can afford it that will be able to buy it, but as for fiat, it will always be available; therefore, in essence buying Bitcoin will now depend on how wealthy you are.
Lastly, Bitcoin and Fiat will stay, because there will likely be people who will find it hard accepting Bitcoin as a means of payment.

There will be available cash to buy bitcoin and satoshis. There will be a moment when the richest guy or guys together won't be able to buy the whole supply (no one is able at the moment too).
I have one question for you: How much gold do we have right now in overall? A lot, yeah? And did gold cause fiat crisis? No. If we define bitcoin's price into USD or fiat, then how will we have fiat crisis? There won't be a similar moment.
If fiat will be defined in bitcoin and bitcoin's value will skyrocket, i.e. one snickers will cost 0.00001btc instead of $1, then maybe we will have the fiat crisis.

there isn't enough market for bitcoin just yet but if it surpasses fiat in the future, we'll have another crypto for fiat like china have come up with own version. btc and cryptocurrency in general is still way behind other markets like gold which is trillions of dollars yet its value hasn't surpassed fiat just yet. there is so much adoption that has to happen before we can ponder upon this scenario. most people don't even use or know how to use cryptocurrency. its still small.

another thing is that unlike other commodity you're able to divide btc so people will always be able to buy it in sat if not whole btc. it'll have to surpass every other market combined.

BTC's potential exceeds the value of fiat money btc will never be able to replace fiat without btc everyone can trade with fiat currency but without fiat currency it is not possible to run the country btc usually increases its demand depending on the market. Fiat prices can never be discounted the rate of bitcoin investment is increasing due to the rise in the price of bitcoin but in the future bitcoin will take a long time all over the world everyone can do cryptocurrency transactions as they wish, but this does not apply to fiat.

Such case scenario simply isn't possible.There's always enough fiat in the financial markets.Actually there's an abundance of cash.That's why cash is losing value(inflation) and that's why cash will become worthless some day in the future.
Bitcoin can be divided into millions of satoshi and doubt that people can't afford to buy even one satoshi. ;D
I'm not a Bitcoin maximalist and I don't believe that Bitcoin will ever reach some astronomical(to the moon) price of,let's say,a few million dollars per BTC.This won't happen due to the nature of Bitcoin and all the HODLers,who will decide to sell their BTC at some point,therefore creating selling pressure.

Isn't the fiat money continue to depreciate in value?  The once $1's great value that can buy more goods is just a mere dollar now that can only buy one or two cheap items.  The printing of lots of paper money will simply devaluate the currency so it is not a solution to patch things about matching the valuation of Bitcoin if ever BTC becomes so precious.

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Anyway, if ever 1 BTC surpass all the fiat money in the world, I am sure it will possibly create chaos.  All those BTC holders will just dictate the world's economy since they have all the money to buy things.  The government will possibly create an emergency system that will tackle this kind of problem.  They may start confiscating or banning BTC usage in order for the Government to regain control of the economy.  BTC having such value is great for BTC holders but it will be disastrous for the finance industry so they may possibly start some kind of "war" against BTC until one of the two give in.

It is fiat money. What I meant with the cost is the actual costing for printing the bill, not the bill itself.

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I re-read the question of OP and I think I misunderstood the question the first time around. What I think about now is that the price of BTC is so High that 1 satoshi could be 1 dollar? 1:1 value with a satoshi is pretty damn high and we will all be millionaires. All of it will cause an imbalance in the economy and no more physical bills by that time. I think the 1:1 comparison is the best way to visualize what the OP meant.

When that time comes I'm pretty sure people will not gonna buy bitcoin at high price and will gonna consider other type of investment rather than this one.  Our government will also not allow that financial crisis will happen due to btc price growth. And to think that bitcoin has a limited supply thus we can expect that high price is normally happen for the next years.

And for that, bitcoin will surely survive and exists for a very long time.

What about satoshis? as you can see right now BTC has already surpassed all of the currency around the world regarding its value. But if 1 Satoshi will be equivalent to up to $10 each, that would be insane and that surely surpassed the current highest value currency in the world. The best thing about BTC is its investment capability and you always have an assurance to recover your losses when you have enough courage to hodl it no matter what happens to the market. because throughout its history, it always recovers its price from the bearish market until now.

Bitcoin was created as a solution and alternative to the economic and financial meltdown the government was unable to fix, so it totally not add or causes fiat crisis and this is what some governments that don't support Bitcoin don't understand but the IMF Boss and US SEC Chief understand this feature about Bitcoin that's why they supported crypto and also advise the government to issue their own digital national currency cause crypto is inevitable.

I don't see that from happening as we all know how the government will make some solutions to keep that from happening. I see bitcoin as an alternative and if that ever happens, what currency will we base bitcoin? How can they buy it if they are having a problem with its value that it is in bitcoin?

Impossible I think as it may sound. There'll be no equity I guess in such way. Everything in the market has price to determine its "value". Prices are "vernacular" if it is a language, as an example. And if there will be no agreement, a price won't be formed or created, and agreement into such considers different factors. So maybe, nothing in the market will be in such scenario wherein something will not be in such condition in the market, even on "rare" things being sold online.

^ Definitely I agree with the rest that the purchase happened didn't bring a huge impact on the price hike especially if it was made infractions and unnoticeable to the market. Like what most replies above mentioned we are not even sure if he is still holding the bitcoins right now or already being sold it back in the market. Nevertheless, I could even make a conclusion that the biggest factor of the price hike and ATH is because of mass adoption where a lot of people are getting aware of bitcoin and started to invest through the help of those large companies like PayPal who started acquiring bitcoin in their services.

How will bitcoin surpass the value of fiat money if the fiat money is what powers the bitcoin ??? and as far as the value of bitcoin is concern, I don't think it will go that heavenly high that there isn't much fiat to buy bitcoins, I mean supply and demand is the core of the price so if it isn't present the price will just stay. I can only say that the present state of bitcoin is the best it has got through years, that I think it'll be this way for more coming years. We'll be selling at $20K, then watch the dump, wait again til we see $20K and it continues for like 2 to 3 years.

Well, one bitcoin years ago was $40 and it's almost $20,000 now. Isn't that an example of how bitcoin is surpassing the value of fiat? You could afford to buy one bitcoin easily years ago, can you do now? Not many can. So clearly implies something has gotten expensive right? Bitcoin.

The pump and dump are vague words when using bitcoins. The stability of bitcoins over the years has only shown a rise so not like it will ever fall to $50 again and even if it does, I doubt it will climb back to $20,000 again.

In terms of bitcoins surpassing the fiat currencies, I think it is already done for bitcoin's price is now greater than 1 versus other fiats. If we will say that bitcoin still didn't surpass fiat yet then it should be 1 BTC is equal or less than $1 or to any fiat currencies but since the current price of bitcoin is $19,331 then that means bitcoin has a greater value than USD.

However, it is far or impossible that fiat will be replaced by BTC just because of the devaluing or fiat crisis, it will still remain in circulation and we know for a fact that in order for us to identify the value of bitcoin right now is through conversion to a particular currency.

This is also a concern to me. I've been thinking, what will happen when more than 50% of the world uses a currency that doesn't depend on fiat. I'm afraid it may bring crisis beyond what we think.

in my opinion this is illogical, fiat money must always fill the market in a country, if you mean an economic crisis, for example, the fall of a currency in that country actually increases the price of bitcoin because it is believed that there will never be inflation because the current supply is only limited and continues to decrease

Bitcoin can change fiat currency system especially if many people will going to use bitcoin and might be adapted as well but it can also destroy the economy due to the fact that bitcoin has no stable value and could also depreciate instantly when whales going to trade it to other crypto as well. So, bitcoin should not be mixed up with the community and it should be run independently just like what we have now. To bitcoiners, this is our only chance to escape and beat the inflation rate just like gambling but having a better chance of winning that if you know when to buy and sell bitcoin.

For me now Bitcoin has surpassed the value of fiat money, and both of them still exist. In my opinion Bitcoin will not
be able to replace fiat money, because the government will not allow that to happen. So very few countries allow Bitcoin
as payment, so Bitcoin will be more attractive as an investment.

Actually the thought is very closer to the usd and other fiat. The US dollars always submerge the price of fiat many country. Mostly it affected the price of Asian countries fiat.So it was more crisis to the economy of Asian people and dominated the Asian by the mean of currency. All this was planned up to make sure of developed country on top.

How did you know that 50% of the total population uses a currency like what currency are you talking about? How on would it bring crisis just because the price of BTC surpasses the value of fiat, don't you know that Bitcoin uses sats if ever the value increases? Well, luckily we won't be seeing those painstaking days because I'm sure we're all dead by the time it reaches that price.

Do you mean by fiat crisis is about the crisis where the fiat value is very small?
If it happens, it may not happen in all countries at once time. that is why it may not be globally done. however, if it is talking about one country, it may be probably. Like what happens in the countries where their fiat has no value anymore compared to USD, they prefer to use Bitcoin, they can get BTC as payment and also assets of course. But it may be also difficult because we must also have good agreement with the governbment. they will never let the power and role into others than them.

It might surpass the value of fiat but that day is not now.  Value of dollar must crashed first before crypto will overcome everything. When people started to dump and stop using their fiat then they will use bitcoin. 

WOuldn't this fall under price speculation? Anyway, I don't know, the global FIAT market cap is far too high, would it be nice? Yes, but also I wouldn't bet on it. Though I do think that current BTC is far undervalued, I honestly have no idea how far up it'll go, and anyone telling you otherwise might not "know" for sure, and just believes it'll go that far up.

But again, it would be pretty awesome.

Fiat is currently the standard of our world's financial system. However with the constant inflation and the US as well as other nations printing money. Fiat is inevitably losing value due to inflation and will die out.
It wont happen soon, but definitely in the near future.
This is when bitcoin will come and save the day  ;D

The rule of supply and demand will make sure there's always enough fiat money to buy your bitcoins and if there's not somebody will make more to satisfy the demand ;)

Fiat money can be printed, bitcoin's not. Fiat money have unlimited supply. Even with 1 bitcoin being worth 5 millions of dollars there's still going to be more than enough fiat to buy everything out.

Hold up mate, just imagine 90% of the world using bitcoin and no longer interested in fiat. Fiat has always been a way that the government make money. And now, it becomes a currency no one wants. Firstly, it'll greatly reduce the value of the fiat as not much people care about it any more. And at such extent, there could be a financial crisis in that country. I'm a big supporter of Bitcoin but we need to also look at the disadvantages it brings.

Adding to that, I think that it is best if everyone is allowed to bitcoin on a condition that they do not totally abandon fiat. Because if they abandon fiat, like I said, it can bring financial crises to that country.

Well in that case they can use other assets along with fiat for buying bitcoin.

Imagine paying few billion dollars along with a house (real estate property) for few bitcoins.
or
Imagine paying few billion dollars along with gold for few bitcoins

Not only assets but also things like cars, motorbikes, ships, planes etc...

That's the specialty of bitcoin  ;D Bitcoin can be bought with anything.  ;D

I don't see why bitcoin will become much more valued than fiat, you don't need such fear. Bitcoin is not more than 21 million and some has been lost because access have been lost to them, meaning less than 21,million remaining. For fiat, every country has their fiat and can print more at times they are needed. You see there can't be a time that the world will run at of fiat to go after bitcoin no matter the price for it at that time.

That's not an impossible scenario but it's a bit unlikely to happen that soon because governments are going to intervene and remove the extra cash that is floating around to keep the current value around the same.

If cryptocurrencies or bitcoin gains a huge popularity, like a time comes than 90% of the population of world are using crypto instead of Fiat then it really could lead to a crysis for Fiat but not price wise though but it just devalues the use cases of Fiat and eventually in next 50-60 years they have to remove Fiat completely, but you can be sure that before it gets to that point governments make their own crypto and with new tax laws and coming up with new restrictions will make sure everyone use their own crypto, so they will try really hard to delay the removal of Fiat which would eventually be replaced by one or multiple true decentralized cryptocurrencies.

According to the vision of some in our crypto space, it is that we will one day stop using fiat for crypto.
Everything will undoubtedly take time. If there is a shortage of cash we will always look for the best alternative that works for everyone.

An example in Venezuela there is a shortage of its local currency (bolívar). Citizens turn to the dollar to buy goods and services and those who do not have a bolivar or dollar can buy their goods and services through electronic banking.

Recently, payment with bitcoin and crypto is being introduced in some stores such as pizzerias, pharmacies and supermarkets.

By this example I mean that all parts should work. If there is a shortage of cash there should be a ready population using bitcoin to replace fiat.

No I don't think this could cause some serious impacts on Fiat money like you said, also the government is on the top to rule their country they will not say no to Fiat so easily. I agree BTC has surpassed many assets like gold etc but there is a logic behind Fiat currency which can't be changed in future also I believe the government's will not accept such instance to happen.

Bitcoin undoubtedly has a very high market price in the market and high value than fiat money. But fiat money is just the main currency that can be used in a country.

It might not cause any impact since the market price could always continue to increase, and if you want to spend it the best thing to do is convert it first to a fiat since bitcoin was not yet accepted in some countries or stores. So the value of the fiat would just depend on the country that is why different fiat currency has a different value.

In the future, it might be a digital transaction that could be our future or could even be crypto but I guess it was just an improved version of fiat money.

You should consider also the downside of Bitcoin and I'm sure it won't touch to even closer to 90% that's why fiat is still a valuable asset that we can hold physically. Financial crisis is always on the line once there's a corrupt politicians sit in the government that's why I can't certainly tell if would be a great use in the future but I'm sure it will give the advantage in trading money all around the world.

We are already seeing in a very small scale what you are proposing, bitcoin is almost worth 20k, how many people can afford to buy a single bitcoin? Even people in developed countries do not have any savings so they cannot afford bitcoin at all, however that is not going to be a problem for bitcoin, that is going to be a problem for fiat currencies, because as the value of bitcoin keeps growing governments will begin to see that everyone will try to put their money in bitcoin and I think a day will come in which in many countries bitcoin will be illegal precisely because of this reason, but then the will of the people will force governments to change course and accept bitcoin once again.

Currently, payments are slowly being made digitally.  In the future, money is no longer cash, all digital, so the process of creating money will change greatly.Bitcoin and fiat are two different things in value, I mean the value of their volatility.  And fiat inflation has nothing to do with Bitcoin.  The bank will never run out of fiat money, because every withdrawal is limited by the bank.  I'm sure people who have lots of Bitcon must have bought it cheaply, not as high as it is now.  they should know the risks of buying a lot of Bitcoin now.  And I am sure that the government and banks will anticipate this by supporting the integration of the national digital financial economy so that it can guarantee the function of the central bank in the money circulation process, monetary policy and financial system stability, as well as supporting financial inclusion.

You must mean surpassing the total market value of all fiat money in the world. But that would mean that (I don't have time to do the math here so it's just a random number) 1 Bitcoin would be worth more than 100 million dollars/euro/pounds. I'm sure that if it ever happens the value of fiat money will be the last thing we, early adopters (because that's what we are, believe it or not) will be concerned with. We'll be too busy being flown from one of our islands to the other.

At the moment, the chances of Bitcoin surpassing the value of the Fiat money is less than 1% in percentage. Even though some institutions had finally recognized Bitcoin as an speculative asset class and some hedge fund managers invested certain percentrage of their portfolio in this asset, it does not give absolute guarantee to say that Bitcoin will surpass FIAT automatically. It will surely take a very lot of time and might take some decades before it will happen. People think that just because a system had some errors, you automatically need another one as replacement. True, banks have problems too, but does not mean it had some issues, you will now say Bitcoin will need to replace them.

Foreign Exchange is one of the biggest market today which are behind it and major players are the banks. Banks plays a very important role in one country. And you cannot just immediately replaced it with Bitcoin (digital cash). FIAT was there ever since human kind understand the market so it is very hard to replace them.

For real? On a daily basis, Bitcoin keeps getting adopted. When talking of value, I'm not looking at the price difference between BTC and fiat money. I'm looking at that which people will want more. Bitcoin's advantages is more than it's disadvantages and this brings in new users. The more new people use Bitcoin, the less they use fiat, and the more stores accept Bitcoin, the more worse it gets for fiat. At a point, people won't want fiat because they can do almost everything with Bitcoin, and like I said earlier, this has the ability to cripple a country's finance.

I believe that bitcoin so far has little chance of ousting fiat from the market, since fiat holds the entire world economy, and if bitcoin crowds out fiat, then a crisis in the world economy may begin, and we know how regrettable, and even more so we should not forget that there are many people who rely on cash and even in such a situation, if this happens, then there will still be a black turnover of cash

Even now the market of bitcoin or the value as a currency exceeds already the other fiat currency and is now landed in the top rank of fiat currency rank base on its value. Yes, bitcoin is huge already and I think it could be even more going to surpass other big currencies. Well, most of the currencies now are in trouble and that subject for inflation rate especially that we are now in pandemic.

Yes, still there will be value. Because many peoples can't afford to buy 1 Bitcoin currently but they have been buying in satoshi. Then the same thing will happen if BTC surpassed fiat value.I don't think the price will go out of reach, but if it does, there would be an upgrade chain with more decimals. So, then everyone would buy that. Also don't think there will not any Bitcoin competitors in the future. Who knows if bitcoin exist or upgrade in new technology after a hundred year?

In fact, it often happens that the value of something on the contrary depends on rarity, not universal availability, and I think this also played a role in creating bitcoin with its limited number. Although for many people to strain too many zeros after the decimal point. Also, let's not forget about alternative coins, which will definitely continue to have their share of the pie and allow the mass of people to join the world of cryptocurrencies.

It doesn't matter if Bitcoin surpassing the value of fiat, because we can still buy Bitcoin. Even though we can't buy 1 Bitcoin,
but we can buy in satoshi. Because to own Bitcoin we don't have to buy 1 BTC, so the price of Bitcoin, however expensive,
still can be bought. And no need to worry that Bitcoin will replace Fiat money, which the government was afraid of. Because
Fiat money is very much needed, I am sure Bitcoin and Fiat money will co-exist.

Correct, if at some point bitcoin begins to approach that kind of value then it will become unstoppable, surely a bubble will form once again and will probably be the biggest bubble in the history of the world and governments will try to stop it to avoid the destruction of their fiat currencies, but as we know forbidding something does not work and people will keep investing in bitcoin until it reaches an incredibly high value, also it is fair to wonder if the fall of fiat currencies themselves because of a huge crisis is going to be what will finally convince people of the superiority of bitcoin and it will make people to invest in it.

I think both will coexist. One can't exist without the other, there will always be a need for crypto as well as fiat. Yeah, there could be a time when using crypto will become easier and it will become mainstream.

BTC will still be converted to fiat before it can be sent presently and I don't see everybody adopting digital payment. Some will never be comfortable with it, as long one is going to be converted to another before it can be spent, I don't see it surpassing the Fiat currency