If bitcoin price is $10.000, will fiat be worthless?

[virtualx]

In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?

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[Denker]

No I don't agree.The reason is that Bitcoin can reach that value pretty fast and the circunstances why this happens could be so different.
Fiat will still be around in decades!A success for Bitcoin in terms of value in fiat doesn't have to be connected with losing value of fiat.
Let's just some of the gold holders switch over to Bitcoin, online gaming, gambling, foreign remittances and e-commerce use Bitcoin in a larger magnitude and boom you have your $10k BTC.Euro, Dollar, Yen, Yuan etc will still be around and used by general public.

[Amph]

bitcoin will never be able to suck all the fiat money, they can just print more without problem

also fiat is already worthless, but you're obligated to use it for the majority of things

if you mean collapsed, i don't think so

[tyz]

Why should fiat be worthless at $10,000   This would mean a Bitcon market cap of 210 billion $. This is the half of Google's value, a third of Apple's value, around the same as Coca Cola's value, one third of Amazon's value and only 4 times more than Uber's value. Just a short list. So, $200 bln market cap or $10,000 per Bitcoin is not really much.

Fiat would be worthless when Bitcoin is worth at least a million. This would mean that inflation is getting out of control.

[tyz]

Fiat is already worthless in what country are you living?
Money is worthless when you can not buy things, food, clothes, ... with it anymore and when you can only use it to burn it to ashes in order to warm your body.

bitcoin will never be able to suck all the fiat money, they can just print more without problem

also fiat is already worthless, but you're obligated to use it for the majority of things

if you mean collapsed, i don't think so

[Denker]

Even the price of bitcoin was mentioned in the form of fiat ($). So, how could be the fiat will wothless at any point?

$ is the referral value, because the world uses them, because the world is based on FIAT!
Sooner or later the currencies will crash.Never in history of mankind since currencies have been used, none of those ever had survived or were able to hold it's value.Check the history of money for that, especially the last 300-400.
And when fiat will have crashed, Bitcoin might be valued in oz of gold or silver.Who knows.

[OmegaStarScream]

Probably not , Bitcoin may reach that value indeed and probably more ... however It will take few years and when it does , you won't be able to buy the same things like you do with 10k $ right now so there will be a balance , just like it's the case right now .

[jacee]

No matter how high the price of bitcoin will get if there are not enough merchants that will accept it then the answer is no. Fiat will still remain as the main currency that will revolve in markets so it will never be worthless. Also if btc price will remain unstable then fiat will still be the best option to hold your funds into. You wouldn't want to wake up one day that all your money has suddenly dropped it's value.

[shogdite]

In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?

Where is that topic maybe link us in this thread as i would like to read the reasoning behind that kind of thinking. If bitcoin reaches $10,000 that is not the world adopted it but only a small amount in the scheme of things. The only time fiat becomes worthless in some countries is when inflation goes out of control, check Zimbabwe for reference. In short no fiat will not become worthless because of bitcoin but there is a chance of it becoming worthless should certain people want it to.

[amacar2]

No bitcoin value will always be compared with those fiat whatever will be the price even at 100k per coin price. With 21 million total bitcoin supply, if it is 10k per coin than it will only be 210k million of fiat. That is so low than actual money exist in this world.

[helloeverybody]

Flat will still be used at 10000 dolla. We are talking mass adoption before flat becomes useless. $10,000 is only cutting into a small part of the market.

[Amph]

Fiat is already worthless in what country are you living?
Money is worthless when you can not buy things, food, clothes, ... with it anymore and when you can only use it to burn it to ashes in order to warm your body.

bitcoin will never be able to suck all the fiat money, they can just print more without problem

also fiat is already worthless, but you're obligated to use it for the majority of things

if you mean collapsed, i don't think so

in the sense that you're forced to buy with it, but in practice fiat has no value, it's issued by a centrale autorithy that force you to buy things with it, because they made it legal and there are no other option, until now with bitcoin

[hunnaryb]

If we have a global meltdown worse than the last recession, maybe!

[zodiac3011]

will fiat be worthless? No you can still exchange bitcoin to fiat! That's the point you still use fiat in many of your daily uses. Unless bitcoin got a mass adoption, fiat will never be worthless (exclude the possibility that digital currency will replace it LOL)

[Newcoins2020]

I don't think so. Unless most of the world has adapted to bitcoin, fiat is still relevant. You'll still need to pay your bills with fiat and buy day to day things with fiat.
Fiat becomes worthless when most of the world has adapted to bitcoin. Until then, we'll still need to exchange to fiat.

[jt byte]

You'll still need fiat to know how much it's actually worth in your countries currency. How else would you know how much bitcoin is worth to you?
Unless the whole world has accepted bitcoin, then that's the point where fiat becomes useless.

[Yarius]

Fiat is fiat. For now nothing can replace it.

[Amph]

Fiat is fiat. For now nothing can replace it.

well not true, you can replace it already at least partially , there are some services that offer you to pay in bitcoin, to receive what you want

[richardsNY]

Fiat will stay exactly the same, no matter what the price of Bitcoin is. Nothing can change fiat beside the governments themself. The only chance for Bitcoin to make fiat less usable/interesting, is when people world wide start to use Bitcoin more than their fiat currency.

[HarryKPeters]

It won't become useless, governments will find a way to use fiat in their favor. You're still going to need fiat to exchange your bitcoins.
It will take years for the whole world to adapt to bitcoin.