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

[Jurski]

No way fiat is going to be useless.It is too cocky to assume something like that yet

[JCO05]

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

Ofcourse not! It doesn't mean that it will already be worthless just because Bitcoin will have a high market value. It will still be used by people especially to those who are living in countries where Bitcoin is not yet legal as a currency. So with that, fiat or regular currency will still be used by people since it plays a huge role on t lives of people then and now.

[LogitechMouse]

A big NO. Fiat money will not be worthless and it will be there with cryptocurrency. People all over the world are using fiat money for a long time and as we can see now, bitcoin has been banned in some countries. Even bitcoin's price will reach the 10k mark, fiat money will be still there to be use in the daily lives of the people.

[Dreamchaser21]

Well this post is almost 2year already but as we can see we still need fiat money, and i think fiat will remain no matter what the price of bitcoin. Yes bitcoin and its technology is our future but fiat money will always there to offer more convenient things.

[bakunawaaa]

This is not a good comparison to fiat. Price has nothing to do with it. It has more to do with availability and reach. As long as btc and crypto cannot reach a certain segment of population, then fiat will continue to exist. In fact a lot of banks are now moving to online transactions and if you think about it having balance in the bank and not having the actual physical cash, is in itself makes fiat somewhat of a virtual currency hybrid also, and of course countries would still want their own unique currency that is accepted locally. Btc being the only currency would mean having one world government, but even then there is no guarantee that another currency would pop up, because as you can see in the crypto world, many ICOs happened already.

[deejayce48]

No of course. Because fiat will still be acceptable. Even if Bitcoin reaches $20,000 as long as government won't be able to support Bitcoin as the medium of exchange, it won't be able to replace fiat.

[nobody-]

This is not a good comparison to fiat. Price has nothing to do with it. It has more to do with availability and reach. As long as btc and crypto cannot reach a certain segment of population, then fiat will continue to exist. In fact a lot of banks are now moving to online transactions and if you think about it having balance in the bank and not having the actual physical cash, is in itself makes fiat somewhat of a virtual currency hybrid also, and of course countries would still want their own unique currency that is accepted locally. Btc being the only currency would mean having one world government, but even then there is no guarantee that another currency would pop up, because as you can see in the crypto world, many ICOs happened already.

Precisely. Even if it reach $100k it won't still replace fiat. It is not about the price. Bicoin's features is still limited compared to what fiat is capable of doing.

[Haladay]

This is not a good comparison to fiat. Price has nothing to do with it. It has more to do with availability and reach. As long as btc and crypto cannot reach a certain segment of population, then fiat will continue to exist. In fact a lot of banks are now moving to online transactions and if you think about it having balance in the bank and not having the actual physical cash, is in itself makes fiat somewhat of a virtual currency hybrid also, and of course countries would still want their own unique currency that is accepted locally. Btc being the only currency would mean having one world government, but even then there is no guarantee that another currency would pop up, because as you can see in the crypto world, many ICOs happened already.

Precisely. Even if it reach $100k it won't still replace fiat. It is not about the price. Bicoin's features is still limited compared to what fiat is capable of doing.

Fiat money can never be replaced by bitcoin or other coins, and we don't expect this to happen. If one think this can be real, he's absolutely wrong with his ideas. Fiat is fiat and its position is very sharp in world economics.

[Jake Virus]

A internet takeover alone would make it easily 30k+ and fiat has trillions of dollars as market cap

I dont think fiat will be worthless, how fiat will be worthless if it is have many function in this world, and even the bitcoin price became $10,000 it will never make fiat worthless because fiat is running for many years in the industry.

[Chooroz]

No I do not think it would be worthless because the bitcoin is really depending on it and the fact is that the price is made by it.

As of now that will neve happen that fiat will be worthless, i know that bitcoin is blooming now but for now fiat is more convenience for all people, because even bitcoin price $10,000 that is worthless if not all people will know botcoin, so fiat is more good even bitcoin price will became $10,000 fiat will never be worthless.

[Netnox]

Nope... Even if BTC reaches a price of $10K, fiat will still be more valuable than it. If BTC reaches the $10K per coin exchange rate, then the market cap will be around 170 billion USD. Now compare this figure to the market caps of fiat currencies such as EUR and USD, which are around 10 times higher than this amount.

[Ailmand]

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

No, because the appraisal for bitcoin is different from fiat currency. Also, fiat is still the most popular and widely used means of transacting. Compared to bitcoin, it is still the market standard used in any transaction, plus more people are still comfortable with using money to pay for anything. The global trading system also gives more premium to money than bitcoin.

[eminemcookie]

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

No. As long as fiat can be exchanged for goods or other currencies then it will have some worth. Its worth comparable to the dollar will have decreased but it certainly will not be worthless.

[niall51]

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

I'm on other side for these statement. Currently, price of bitcoin is up to 7500USD. Well so closer to hit a goal like you meant. I believe bitcoins will hit the price over 10K usd on next year, and another likely no big effect or onr proof bitcoins has used by people and fiat as worthless. But I'm believe that's will be happend

[Netnox]

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

No. As long as fiat can be exchanged for goods or other currencies then it will have some worth. Its worth comparable to the dollar will have decreased but it certainly will not be worthless.

Worth of fiat when compared to the Dollar? Dude, the United States Dollar itself is a fiat currency. And if I am not wrong, then it is the fiat currency having the largest market capitalization (somewhere around $2 trillion).

[Jusbernuk]

Fiat not yet been worthless even though bitcoin has hit $10K. Because, compared to currency in Asia still has higher capitalization than btc. Bitcoin and fiat are on different platforms. So that's not very influential.

[Clark05]

Maybe it's not popular because being trader the other businesss want the price of bitcoin decrease and increase the price because they can get profit from that.

[jostorres]

The fiat will never be worthless in my opinion since you can still transform them with each other and that it would still stay its really worth in my eye.

There is a misconception in minds of most of us and that is we are mixing regular money with digital money. There is no way that we actually can compare both the things. Both are having their own importance and both of them are used for different kind of purposes.

Paper money will remain at its very own place and it will be used by the people in the future as well. The market price of bitcoin will hardly have any kind of effect on it.

[Glorious04]

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

if fiat will be worthless, so how are we going to base the value of bitcoin then. without fiat we wouldn't be able to determine the value of bitcoin or else the basis will just be crypto to crypto or bitcoin to altcoins. I cannot think of possible way people will exchange bitcoin into since bitcoin is accepted though not everywhere.

[HatakeKakashi]

For me as a trader i want bitcoin rpice decrease and increase . Because if the bitcoin price decrease I will buy more and wait the price to increase to make profit. What if the price stable at 10k dollars we cant earn at decreasing and increasing the price. They only earn bitcoin buy altcoin and some legit investment like ICO. Many people for sure want what I like too.