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

[burner2014]

Of course, Fiat won't be useless if bitcoin price is $10.000.
There is no assurance that the fiat will just end useless, fiat has been part of our daily life without fiat we cannot really live comfortable.
Bitcoin is just like fiat another easy way to transact business, pay bills, remit money and etc.

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[PacePay]

No. That would be kinda stupid to say so. Even if it reached the price of 1 000 000$ per bitcoin, why would it be worthless ? There will always be central banks, like there will always be fiat money, because bitcoin is not suited to the will of the finance world. You can't manipulate it, you can't increase the supply... This is a deflationary currency, and by this uniqueness, it can't overthrown the fiat money.

i even think that bitcoin the only thing can be worthless in the future ,
people are too optimistic and make a speculation like this ,
i don't think this scenario can heppened not now or later ,
bitcoin are a strange stuff while fiat have been established for hundred years.

Actually it is not the competition of fiat and bitcoin in the case if the price of one of them increase or decrease. but they are their own values because of their uses in the market. If one of them increases in value then the remaining remain in the same place where it was actually. The worthlessness depends on the adoption of that currency.

[rizkyhiw]

Of course, Fiat won't be useless if bitcoin price is $10.000.
There is no assurance that the fiat will just end useless, fiat has been part of our daily life without fiat we cannot really live comfortable.
Bitcoin is just like fiat another easy way to transact business, pay bills, remit money and etc.

There is no assurance that the fiat will useless but noone knows bitcoin can make it happen too
but so far i can tell you bitcoin is on fire right now
something that most people cannot believe few months ago
about bitcoin price will not reach $1,000 in the end of the year, but it's getting closer now.

[boyshx]

no, but I have the feeling if we reach those prices or higher govts would see it as a real threat and would try to put more regulation on BTC.

[anavuajna]

Of course, Fiat won't be useless if bitcoin price is $10.000.
There is no assurance that the fiat will just end useless, fiat has been part of our daily life without fiat we cannot really live comfortable.
Bitcoin is just like fiat another easy way to transact business, pay bills, remit money and etc.

now it is not so easy to pay Bitcoins. Not all stores accept it. Fiat can not do without. It will always be, no matter how much the price rises on Bitcoin

[cryp24x]

Of course, Fiat won't be useless if bitcoin price is $10.000.
There is no assurance that the fiat will just end useless, fiat has been part of our daily life without fiat we cannot really live comfortable.
Bitcoin is just like fiat another easy way to transact business, pay bills, remit money and etc.

now it is not so easy to pay Bitcoins. Not all stores accept it. Fiat can not do without. It will always be, no matter how much the price rises on Bitcoin

Yes, there are not that many stores that accept Bitcoin.  Online might have a many places where we can spend Bitcoin but when it comes to Real life Stores like supermarket, fast foods, grocery store, drugstore, we are having a hard time convincing them to accept Bitcoin and they are just stubborn to only accept fiat money.  I believe as long as there is usage of fiat money, it will not cease to exist or become worthless.

[mastica]

Fiat will always be the main currencie, there is not other thing to replace or to compete, countries wont allow those to happen, bitcoin reach such value its possibel, but those wont damage fiat power at all. Bitcoin can conquer it space at online transaction and when all the coins mined we can see what will happen, if the people will try to pump it or make it stable.

[sportis]

I want to reverse the question and ask; If gold price is $10000, will fiat be worthless? Is there any difference? Moreover when someone bought two pizzas with 10000 Btcs was a clue that btc was worthless? Some people need to understand that fiat is currency and there are strong and weak fiat money. In addition there are strong and weak cryptocurrencies too. So, If people decide that a monetary system is worthless they will ban it from their life.  I believe that after the next generation people they use only digital money not because of bitcoin price but because of internet and human needs.

[jaysabi]

I want to reverse the question and ask; If gold price is $10000, will fiat be worthless? Is there any difference? Moreover when someone bought two pizzas with 10000 Btcs was a clue that btc was worthless? Some people need to understand that fiat is currency and there are strong and weak fiat money. In addition there are strong and weak cryptocurrencies too. So, If people decide that a monetary system is worthless they will ban it from their life.  I believe that after the next generation people they use only digital money not because of bitcoin price but because of internet and human needs.

Since gold (or any asset) trades relative to the underlying currency it is valued in, in order for gold to be worth $10,000, the dollar by definition has to depreciate. When gold drops in price, people generally say oh that's gold becoming less valuable, but it is also true that it is the dollar becoming more valuable relative to gold. When gold or bitcoin are worth $10,000, whether you see that as the asset becoming more valuable or the currency becoming less valuable, the fiat currency still is not "worthless." As for your last point, it is entirely possible for digital currency to become the norm without cryptocurrency being the norm. Consider, for example, that the majority of the transactions in western economies are already digital, it's just digital fiat.

[deisik]

I want to reverse the question and ask; If gold price is $10000, will fiat be worthless? Is there any difference? Moreover when someone bought two pizzas with 10000 Btcs was a clue that btc was worthless? Some people need to understand that fiat is currency and there are strong and weak fiat money. In addition there are strong and weak cryptocurrencies too. So, If people decide that a monetary system is worthless they will ban it from their life.  I believe that after the next generation people they use only digital money not because of bitcoin price but because of internet and human needs.

Since gold (or any asset) trades relative to the underlying currency it is valued in, in order for gold to be worth $10,000, the dollar by definition has to depreciate

Where did you get this idea from?

Gold just like any other asset could rise exponentially because its value and utility might increase on its own and not because of the currency in which it is priced depreciating. There are many reasons why the demand for gold may surge. For example, some discovery is made which cures, say, cancer or something no less lethal and requires pure gold for it to work. The gold price will evidently rise. In fact, history knows a lot of such examples when demand for something hiked exponentially. One of these examples is petroleum (crude oil) which had been basically of no use until oil refining process was discovered circa 1850

[erwin45hacked]

I want to reverse the question and ask; If gold price is $10000, will fiat be worthless? Is there any difference? Moreover when someone bought two pizzas with 10000 Btcs was a clue that btc was worthless?

Back then btc was still worthless so it is very understandable that he ended up buying pizzas for that huge amount. Nowadays it will be a very different story of course. Gold is pretty much different than fiat, both can live up well alongside with each other and it happened for thousand years already however it is a different case for bitcoin

[Positid]

I want to reverse the question and ask; If gold price is $10000, will fiat be worthless? Is there any difference? Moreover when someone bought two pizzas with 10000 Btcs was a clue that btc was worthless?

Back then btc was still worthless so it is very understandable that he ended up buying pizzas for that huge amount. Nowadays it will be a very different story of course. Gold is pretty much different than fiat, both can live up well alongside with each other and it happened for thousand years already however it is a different case for bitcoin

If only we can turn back the time and buy bitcoins to hold now then we will be rich easy. Life is really full of surprises because we do not think that it will grow this big like what we have witness now.

[deisik]

I want to reverse the question and ask; If gold price is $10000, will fiat be worthless? Is there any difference? Moreover when someone bought two pizzas with 10000 Btcs was a clue that btc was worthless?

Back then btc was still worthless so it is very understandable that he ended up buying pizzas for that huge amount. Nowadays it will be a very different story of course. Gold is pretty much different than fiat, both can live up well alongside with each other and it happened for thousand years already however it is a different case for bitcoin

You are obviously mistaken about gold and fiat

Fiat has been in wide use only for a little over 200 years and most of that time it was backed up by gold and silver. Thereby, you can't possibly say that these two forms of money lived well alongside each other for thousand years. Basically, fiat in its present form (i.e. not backed up by anything) has been around only for about 50 years plus or minus a few years (if we talk about the US dollar). Right now, many people are claiming that fiat failed miserably, and we should return to gold standard

[carlerha]

No matter what may be the price of bitcoins , it will be not be able to compete with the fiat .because of fiat there will be control of government would not risk it to loose it up.

You are right, that's why there are a lot of people will still use fiat whatever will be the price of bitcoin. And I hope that price of $10,000 is going to be possible and the future, and maybe I am still with bitcoins by that time and I have some holdings of bitcoin. But still fiat will remain on that day and it will not be worthless unless the government will declare it.

You're right, as long as there is government and fiat currency. It is impossible to imagine a state without a currency, which is controlled by the government

yes that is a fact that fiat cannot be worth at any state, people will use both the currencies but not going to stop using fiat, there most of a currency in all the states of the world which will be under control of government.

[KennyR]

No matter what may be the price of bitcoins , it will be not be able to compete with the fiat .because of fiat there will be control of government would not risk it to loose it up.

You are right, that's why there are a lot of people will still use fiat whatever will be the price of bitcoin. And I hope that price of $10,000 is going to be possible and the future, and maybe I am still with bitcoins by that time and I have some holdings of bitcoin. But still fiat will remain on that day and it will not be worthless unless the government will declare it.

You're right, as long as there is government and fiat currency. It is impossible to imagine a state without a currency, which is controlled by the government

yes that is a fact that fiat cannot be worth at any state, people will use both the currencies but not going to stop using fiat, there most of a currency in all the states of the world which will be under control of government.

But the most priority currency will still be fiat even though bitcoin is a very good way to exchange transactions still the people will still rely on fiat. Just like what you have because the government has control for it unlike if they are going to implement total usage of bitcoin it will hard for them to regulate it because of its decentralization.

As described fiat will be the most used currency of all time, though bitcoin and other digital currency gets used by more common people. The reason is that bitcoin cannot be used by people who are not into technology. Also for transaction bitcoin gets preference than as a currency.

[daringdiscovered]

I think if fiat will be worthless then so the bitcoin too. Bitcoin's price is based on us dollar and us dollar is a currency used by america which is fiat. And currently it is difficult to use bitcoin in the real or physical world without converting it to fiat first. If fiat will be worthless then we can't also use our bitcoin.

[burner2014]

I think if fiat will be worthless then so the bitcoin too. Bitcoin's price is based on us dollar and us dollar is a currency used by america which is fiat. And currently it is difficult to use bitcoin in the real or physical world without converting it to fiat first. If fiat will be worthless then we can't also use our bitcoin.

Indeed. Yes bitcoin has a lot of advantages but still fiat is the more comfortable one to transact, especially if you will just buy a cheap item in one store you don't need to wait for the confirmation before you can buy it. Confirmation sometimes takes time so it is not advisable, that is why we should not eliminate fiat in our life.

[equator]

I think if fiat will be worthless then so the bitcoin too. Bitcoin's price is based on us dollar and us dollar is a currency used by america which is fiat. And currently it is difficult to use bitcoin in the real or physical world without converting it to fiat first. If fiat will be worthless then we can't also use our bitcoin.

Ya it is true that not only Bitcoin is priced for us dollar but also to other fiat currency according to their respective country, and i agree that still bitcoin price is valued in fiat currency so i dont think that it will dies , why even gold , silver and diamond are precious but still fiat is available.  Bitcoin is different and fiat currency is different. 

[Amph]

I think if fiat will be worthless then so the bitcoin too. Bitcoin's price is based on us dollar and us dollar is a currency used by america which is fiat. And currently it is difficult to use bitcoin in the real or physical world without converting it to fiat first. If fiat will be worthless then we can't also use our bitcoin.

uh? bitcoin price is based on what people are willing to offer for one coin, not on fiat, right now it's based on fiat because it's more convenient for trading and for peope that are new to this world

in the future if fiat collapse because bitcoin reached 1M usd, then people will simply exchange bitcoin for what they thing it's worth exchanging, like when there was barter

[ged00u]

I think if fiat will be worthless then so the bitcoin too. Bitcoin's price is based on us dollar and us dollar is a currency used by america which is fiat. And currently it is difficult to use bitcoin in the real or physical world without converting it to fiat first. If fiat will be worthless then we can't also use our bitcoin.

This is totally insane. In my opinion, USD is still USD, but other FIAT which can stand Bitcoin will have to die. I have used Dollar for many years and I think the death of USD can barely happen. Dollar have existed on this planet for more than 100 years and most of the countries on this planet still use it as an optional currency and hold it as a type of saving money