Bitcoin Forum
November 18, 2018, 09:26:41 AM *
News: Latest Bitcoin Core release: 0.17.0 [Torrent].
 
   Home   Help Search Login Register More  
Poll
Question: If bitcoin is worth $10.000, will fiat be worthless?
Yes - 46 (11.2%)
No - 364 (88.8%)
Total Voters: 410

Pages: « 1 [2] 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 ... 101 »
  Print  
Author Topic: If bitcoin price is $10.000, will fiat be worthless?  (Read 144410 times)
RealBitcoin
Hero Member
*****
Offline Offline

Activity: 854
Merit: 1000


JAYCE DESIGNS - http://bit.ly/1tmgIwK


View Profile
December 13, 2015, 03:47:15 PM
 #21

Fiat is already worthless, people just dont realize it.

Its a black hole that sucks out your wealth and leaves you indebted to bankers. How can such thing have value?

1542533201
Hero Member
*
Offline Offline

Posts: 1542533201

View Profile Personal Message (Offline)

Ignore
1542533201
Reply with quote  #2

1542533201
Report to moderator
1542533201
Hero Member
*
Offline Offline

Posts: 1542533201

View Profile Personal Message (Offline)

Ignore
1542533201
Reply with quote  #2

1542533201
Report to moderator
1542533201
Hero Member
*
Offline Offline

Posts: 1542533201

View Profile Personal Message (Offline)

Ignore
1542533201
Reply with quote  #2

1542533201
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
MaritiJames3
Sr. Member
****
Offline Offline

Activity: 448
Merit: 250



View Profile
December 13, 2015, 04:03:23 PM
 #22

Fiat will be here for many decades to come. Remember not all trade is 'online'.
The positivity is good, but the focus for bitcoin should not be to compete with other currencies, but to find it's place next to these currencies.
Razick
Legendary
*
Offline Offline

Activity: 1288
Merit: 1002


dApps Development Automation Platform


View Profile
December 13, 2015, 04:18:04 PM
 #23

That's an absolutely foolish thing to say. Does fiat still have value relative to real goods and services? Well then, it's not worthless.


            ▄▄▄▄
        ▄▄████████▄▄
    ▄▄████████████████▄▄
 ▄████████████████████████▄
██████████▀▀███████████████
██████████▄   ▀█████████████
████████████▄   ▀███████████
██████████████▄   ▀█████████
█████████████▀   ▄██████████
███████████▀   ▄████████████
██████████▄  ▄██████████████
███████████████████████████
 ▀████████████████████████▀
    ▀▀████████████████▀▀
        ▀▀████████▀▀
            ▀▀▀

⬢⬢

⬢⬢



       ▄▄▄▄
   ▄▄████████▄▄
▄██████████▀▀▀█▀█▄
██ ▀█████▀     ▀██
██▌   ▀▀▀      ███
███▄           ███
████▀         ████
▀████▄     ▄▄████▀
   ▀▀▄▄▄▄████▀▀
       ▀▀▀▀


██████████████████



       ▄▄▄▄
   ▄▄████████▄▄
▄████████████████▄
██████████▀▀  ▐███
██████▀▀  ▄   ████
███▀   ▄█▀   ▐████
████▄▄█▀     █████
▀█████▌ ▄▄▄ ▐████▀
   ▀▀████████▀▀
       ▀▀▀▀


██████████████████



       ▄▄▄▄
   ▄▄████████▄▄
▄███████▀   ▐████▄
████████  ▄███████
██████      ██████
████████  ████████
████████  ████████
▀███████  ███████▀
   ▀▀████████▀▀
       ▀▀▀▀


██████████████████



       ▄▄▄▄
   ▄▄██▀█▀███▄▄
▄███▀▀▀ ▀ ▀▀█████▄
██████ ████▄ █████
██████ ▀▀▀▀ ▄█████
██████ ▄▄▄▄ ▀█████
██████ ████▀ █████
▀███▄▄▄ ▄ ▄▄█████▀
   ▀▀██▄█▄███▀▀
       ▀▀▀▀


██████████████████
Moneyburner
Member
**
Offline Offline

Activity: 112
Merit: 10


View Profile
December 13, 2015, 04:41:58 PM
 #24

Some customers I deal with at my job don't even have computers, or know how to use a scanner, ect. There will never be a time where fiat is worthless. Atleast not in our lifetime. The government will always want control.

▲▼▲▼▲▼▲▼  No.1 Bitcoin Binary Options and Double Dice  ▲▼▲▼▲▼▲▼
████████████████████████████████  sec◔nds trade  ████████████████████████████████
↑↓ Instant Bets ↑↓ Flexible 1~720 minutes Expiry time ↑↓ Highest Reward 190% ↑↓ 16 Assets [btc, forex, gold, 1% edge double dice] ↑↓
a7mos
Hero Member
*****
Offline Offline

Activity: 574
Merit: 500



View Profile
December 13, 2015, 04:53:09 PM
 #25

People still using fiat and cash money although it's value is declined in the last decades .
So I think that fiat can not be useless as people will continue using it
bob123
Hero Member
*****
Offline Offline

Activity: 742
Merit: 697



View Profile WWW
December 13, 2015, 04:56:05 PM
 #26

Fiat never will be worthless.
Even if btc will become most used currency.

European Central Bank
Legendary
*
Offline Offline

Activity: 1148
Merit: 1060



View Profile
December 13, 2015, 05:44:06 PM
 #27

Replace $10,000 with $1 million plus and then it might be a valid question. $10,000 isn't to be sniffed at all but it's still not a lot in world finance.
RenegadeMind
Hero Member
*****
Offline Offline

Activity: 966
Merit: 503


THINK IT, BUILD IT, PLAY IT! --- XAYA


View Profile WWW
December 14, 2015, 04:34:51 AM
 #28

Do the math.

Assume 15,000,000 BTC (for ease).

$10,000 * 15,000,000 = $150,000,000,000

That's a mere $150 billion.

The world GDP is $77,868 billion. (In 2014 via Wikipedia.)

77,868 / 150 = 519

150 / 77,868 = 0.0019263369

So the world GDP is 520x larger, or BTC only accounts for 0.2%.

Now, all of that is total garbage. Complete horse shit. But it's a kind of indication of the size of the issue.

To actually calculate you need to look at the transaction volume of BTC and the velocity of money and I just don't have time to bother.

$10,000 per BTC is far too low to matter.

██████████████████            ██████████
████████████████              ██████████
██████████████          ▄█   ███████████
████████████         ▄████   ███████████
██████████        ▄███████  ████████████
████████        ▄█████████  ████████████
██████        ▄███████████  ████████████
████       ▄██████████████ █████████████
██      ▄███████████████████████████████
▀        ███████████████████████████████
▄          █████████████████████████████
██▄         ▀███████████████████████████
████▄        ▀██████████████████████████
██████▄        ▀████████████████████████
████████▄        ████████████████▀ █████
██████████▄       ▀█████████████  ██████
████████████▄       ██████████   ███████
██████████████▄      ▀██████    ████████
████████████████▄▄     ███     █████████
███████████████████▄    ▀     ██████████
█████████████████████▄       ███████████
███████████████████████▄   ▄████████████





▄█████████████████   ███             ███   ███   ███▄                ▄███            █████            ████████████████   ████████████████▄             █████
███▀                 ███             ███   ███   ████▄              ▄████           ███████           ███                ███           ▀███           ███████
███                  ███             ███   ███   █████▄            ▄█████          ███▀ ▀███          ███                ███            ███          ███▀ ▀███
███                  ███             ███   ███   ███ ███▄        ▄███ ███        ▄███▀   ▀███▄        ███                ███           ▄███        ▄███▀   ▀███▄
███                  ███████████████████   ███   ███  ▀██▄      ▄██▀  ███       ▄███▀     ▀███▄       ████████████████   ████████████████▀        ▄███▀     ▀███▄
███                  ███             ███   ███   ███   ▀███    ███▀   ███      ▄███▀       ▀███▄      ███                ███        ███          ▄███▀       ▀███▄
███                  ███             ███   ███   ███    ▀███  ███▀    ███     ▄███▀         ▀███▄     ███                ███         ███        ▄███▀         ▀███▄
███▄                 ███             ███   ███   ███      ██████      ███    ▄███             ███▄    ███                ███          ███      ▄███             ███▄
▀█████████████████   ███             ███   ███   ███       ████       ███   ▄███               ███▄   ████████████████   ███           ███    ▄███               ███▄

|
  TRUE BLOCKCHAIN GAMING PLATFORM 
DECENTRALISED AUTONOMOUS UNIVERSES

  HOME PAGE                                                                  WHITE PAPER 
|
USB-S
Sr. Member
****
Offline Offline

Activity: 560
Merit: 250


In XEM we trust


View Profile
December 14, 2015, 05:49:52 AM
 #29

Do the math.

Assume 15,000,000 BTC (for ease).

$10,000 * 15,000,000 = $150,000,000,000

That's a mere $150 billion.

The world GDP is $77,868 billion. (In 2014 via Wikipedia.)

77,868 / 150 = 519

150 / 77,868 = 0.0019263369

So the world GDP is 520x larger, or BTC only accounts for 0.2%.

Now, all of that is total garbage. Complete horse shit. But it's a kind of indication of the size of the issue.

To actually calculate you need to look at the transaction volume of BTC and the velocity of money and I just don't have time to bother.

$10,000 per BTC is far too low to matter.
That's pretty good calculations you've got going on there, We'd need at least 5-10% of the worlds GDP to make a difference in my opinion.

That would mean 250-500k per coin, which is pretty doable considering we've gotten this far and we're only picking up speed. Am I disillusioned for believing that? I mean it just seems so obvious to me. I accept the fact that it could be nothing tomorrow, but the chances of that happening are close to zero to me. A lot of people here believe the same stuff, but how come others outside the bitcoin community don't see what we're seeing? I think I'm part of a cult, cool.

   ████  ▄███▀  ▄██▄▄          ▀▀▀██████         ▀████
  ████  ▄███  ▄████▀           █▄▄  ▀███           ████
 ████  ▄███  ▄███▀  ▄███       ████▄  ▀█        ▐   ███▌
▐███▌  █       █  ▄████▀        ▀▀███▄          ▐█  ▐███
████  ██      ▐▌ ▄███▀         █▄ ▀████   ▄▄▄  ▄▄█▌  ███▌
████  ███  ████  ████      ▄▄  ██▌  ████  ███▌ ████  ████
████  ███  ████  ███▌ ▄   ████ ███  ████▌ ▐██▌ ▐███  ████
████  ███  ████  ████  █▄  ▀▀  ██▌  ████  ███▌ ████  ████
████  ██         ▀███▄  ▀      █▀ ▄████   ▀▀▀  ▀▀█▌  ███▌
▐███▌  █       ▄  ▀████▄        ▄▄███▀          ▐█  ▐███
 ████  ▀███  ▀███▄  ▀████      ████▀  ▄█        ▐   ███▌
  ████  ▀███  ▀████▄   ▀       █▀▀  ▄███           ████
   ████  ▀███▄  ▀███▀          ▄▄▄██████         ▄████
BOUNTY
HUNTERS
           █████
     ▄▄    █████    ▄▄
   ▄████▄█████████▄████▄
   ▀██████▀▀▀▀▀▀▀██████▀
    ▄███▀         ▀███▄
███████             ███████
███████             ███████
▀▀▀▀███             ███▀▀▀▀
    ▀███▄         ▄███▀
   ▄███████▄▄▄▄▄███████▄
   ▀████▀█████████▀████▀
     ▀▀    █████    ▀▀
           █████
    Automated Brand Endorsing
Influencer Marketing Platform
        ██▄██▄██
         ▀████▀
      ▄██▄ ▀▀ ▄██▄
    ▄██████████████▄
   ███████ ██ ███████
  ██████       ▀██████
 ████████  ███  ███████
█████████        ███████
█████████  ████  ███████
████████▀  ▀▀▀▀  ███████
 ▀██████▄▄ ▄▄ ▄▄██████▀
   ▀██████▄██▄██████▀
     ▀▀▀████████▀▀▀
████████████████████████████  WHITEPAPER  █████
FACEBOOK     ANN THREAD     TELEGRAM
█████  ONE-PAGER  ██████████████████████████████
█▀▀▀











█▄▄▄
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
.
.

▀▀▀█











▄▄▄█
Xubu
Full Member
***
Offline Offline

Activity: 238
Merit: 100


View Profile
December 14, 2015, 06:19:40 AM
 #30

Definatly not !!
NorrisK
Legendary
*
Offline Offline

Activity: 1722
Merit: 1003



View Profile
December 14, 2015, 07:39:40 AM
 #31

Do the math.

Assume 15,000,000 BTC (for ease).

$10,000 * 15,000,000 = $150,000,000,000

That's a mere $150 billion.

The world GDP is $77,868 billion. (In 2014 via Wikipedia.)

77,868 / 150 = 519

150 / 77,868 = 0.0019263369

So the world GDP is 520x larger, or BTC only accounts for 0.2%.

Now, all of that is total garbage. Complete horse shit. But it's a kind of indication of the size of the issue.

To actually calculate you need to look at the transaction volume of BTC and the velocity of money and I just don't have time to bother.

$10,000 per BTC is far too low to matter.
That's pretty good calculations you've got going on there, We'd need at least 5-10% of the worlds GDP to make a difference in my opinion.

That would mean 250-500k per coin, which is pretty doable considering we've gotten this far and we're only picking up speed. Am I disillusioned for believing that? I mean it just seems so obvious to me. I accept the fact that it could be nothing tomorrow, but the chances of that happening are close to zero to me. A lot of people here believe the same stuff, but how come others outside the bitcoin community don't see what we're seeing? I think I'm part of a cult, cool.

You are probably a bit disillusioned Wink As much as I would like that to happen, it just does not seem realistic to me. If it does happen within our lifetime though, I have my retirement set up and enough to leave a nice amount to my kids.

Let's first reach that 10k before talking about those types of numbers.
Amph
Legendary
*
Offline Offline

Activity: 2044
Merit: 1003



View Profile
December 14, 2015, 08:11:01 AM
 #32

Do the math.

Assume 15,000,000 BTC (for ease).

$10,000 * 15,000,000 = $150,000,000,000

That's a mere $150 billion.

The world GDP is $77,868 billion. (In 2014 via Wikipedia.)

77,868 / 150 = 519

150 / 77,868 = 0.0019263369

So the world GDP is 520x larger, or BTC only accounts for 0.2%.

Now, all of that is total garbage. Complete horse shit. But it's a kind of indication of the size of the issue.

To actually calculate you need to look at the transaction volume of BTC and the velocity of money and I just don't have time to bother.

$10,000 per BTC is far too low to matter.

well you don't need to have all the world gdp converted in bitcoin, to destroy fiat with bitcoin itself, a good adoption for bitcoin, can start a chain that make people not believing in bitcoin anymore, and thus making fiat much less valuable

bcecause more and more investors will begin to invest in bitcoin
romjpn
Full Member
***
Offline Offline

Activity: 172
Merit: 100


View Profile
December 14, 2015, 08:30:31 AM
 #33

No, 10k$ is pretty much a middle-way target for 2020 I'd say, that's all, no complete disruption. The market cap of Bitcoin is ridiculously tiny considering its potential !
But I can see a small country officially adopting Bitcoin as a part of its "foreign currencies savings" midterm, not replacing FIAT though, that would be a surprise.

---~~~***~~~--- http://InvestBitcoinGuide.com ---~~~***~~~---
Invest your bitcoins/altcoins into legit businesses. Get solid returns !
We hate scams and ponzis !
paffie
Newbie
*
Offline Offline

Activity: 58
Merit: 0


View Profile
December 14, 2015, 08:31:26 AM
 #34

I don't think fiat will ever be useless... Offcourse it would be nice if the bitcoin price was $10.000... you'd still have to pay your groceries with fiat  Wink
Hashminers
Sr. Member
****
Offline Offline

Activity: 336
Merit: 250


View Profile
December 14, 2015, 09:58:08 AM
 #35

I think fiat be worthless for you if you are just using bitcoin daily.
For now fiat is not worthless is good to have for some people who don't use bitcoins.

Bettwarm
Member
**
Offline Offline

Activity: 80
Merit: 10


View Profile
December 14, 2015, 10:16:34 AM
 #36

The value of bitcoin is not related to fiat directly. Its value is determined by the usefulness of bitcoin. When bitcoin is widely adopted, its value will increase, but the value of fiat is still worth something.

██████████    YoBit.net - Cryptocurrency Exchange - Over 350 coins
█████████    <<  ● $$$ - $$$ - $$$ - $$$ - $$$ - $$$ - $$$   >>
██████████    <<  ● Play DICE! Win 1-5 btc just for 5 mins!  >>
bitlancr
Hero Member
*****
Offline Offline

Activity: 616
Merit: 500


View Profile
December 14, 2015, 10:45:29 AM
 #37

I don't agree with this statement. Fiat is still the main currency, since the governments and corporate companies own the banks or at least control them.
You're still going to need fiat to get stuff that you need on a daily basis, fiat will become worthless when the governments make it worthless.
eternalgloom
Legendary
*
Online Online

Activity: 1400
Merit: 1098


Crypto-Games.net: Multiple coins, multiple games


View Profile WWW
December 14, 2015, 10:45:57 AM
 #38

No, fiat will not be worthless, since they will still remain the official currency of many nations. I don't think we'll see many first world nations adopting Bitcoin to replace their own currency.
It would be cool to see though, that a country adopts Bitcoin as their currency..


▄▄▄████████▄▄▄
▄██████████████████▄
▄██████████████████████▄
██████████████████████████
████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
██████████████████████████████
████████████████████████████
██████████████████████████
▀██████████████████████▀
▀██████████████████▀
▀▀▀████████▀▀▀
   ███████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
██████████
███████
BTC  ◉PLAY  ◉XMR  ◉DOGE  ◉BCH  ◉STRAT  ◉ETH  ◉GAS  ◉LTC  ◉DASH  ◉PPC
     ▄▄██████████████▄▄
  ▄██████████████████████▄        █████
▄██████████████████████████▄      █████
████ ▄▄▄▄▄ ▄▄▄▄▄▄ ▄▄▄▄▄ ████     ▄██▀
████ █████ ██████ █████ ████    ▄██▀
████ █████ ██████ █████ ████    ██▀
████ █████ ██████ █████ ████    ██
████ ▀▀▀▀▀ ▀▀▀▀▀▀ ▀▀▀▀▀ ████ ▄██████▄
████████████████████████████ ████████
███████▀            ▀███████ ▀██████▀
█████▀                ▀█████
▀██████████████████████████▀
  ▀▀████████████████████▀▀ 
✔️DICE           
✔️BLACKJACK
✔️PLINKO
✔️VIDEO POKER
✔️ROULETTE     
✔️LOTTO
jt byte
Hero Member
*****
Offline Offline

Activity: 896
Merit: 500


Look ARROUND!


View Profile
December 14, 2015, 10:58:56 AM
 #39

I don't agree with this statement. Fiat is still the main currency, since the governments and corporate companies own the banks or at least control them.
You're still going to need fiat to get stuff that you need on a daily basis, fiat will become worthless when the governments make it worthless.

Very true this time of future a lot of people use fiat so we need it.
Yes fiat won't be useless, because the price will be still the same and how ever bitcoin is still increasing.
I would like to see more store in other country to use bitcoin so that I just can pay with bitcoin.


.........................................
             █████████████████
         ███ ██     █     ██ ███
       ██ █████     █     █████ ██
     ███   █   █  █████  █   █   ███
   ███     █    ███ █ ███    █     ███
  ██  ███ ██ ███    █    ███ ██ ███  ██
  ██     ████       █      █████     ██
 ███   ██ █  ███    █    ███  █ ██   ███
 █ █ ██   █     ██  █  ██     █   ██ █ █
█████     █       █████       █     █████
 █ █ ██   █   ████  █  ████   █   ██ █ █
 ███   ████ ██      █      ██ ████   ███
  ██  █  █████      █      █████  █  ██
  ██ ██   ██ ████   █  ████  ██   ██ ██
   ██      █     ██████      █     ███
     ████  █   ██████████    █  ████
       ██ █████     █    ██████ ██
         ███  ██    █   ███  ███
            █████████████████
ARROUND









.









.
Telegram
ANN Thread
Bounty Thread
Whitepaper
LuckyYOU
Sr. Member
****
Offline Offline

Activity: 280
Merit: 250



View Profile
December 15, 2015, 09:30:07 AM
 #40

It would kinda depend on how much the world or at least the country where I'm living in has adapted to bitcoin or not. Even if the whole world has adapted to bitcoin, they would still need to know the value of everything compared to fiat. So no, I don't think it will become worthless.

Pages: « 1 [2] 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 ... 101 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!