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

[pitham1]

Supply and demand, bitcoin price may reach 10k but its useless if merchants don't accept bitcoin.

Why is it useless if merchants don't accept it?
I can just sell it for $10k and give the merchants fiat. 

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[Denker]

If each and every country accepts bitcoin, then fiat might go worthless if bitcoin rise to such a huge amount which is unreachable in a short or a limited term.

I think it would seem impossible if bitcoin is accepted in all countries? while to get the legalization of one country alone. bitcoin still can not get it?

Bitcoin has only been in circulation for a few years. It takes time and thorough research for the government to legalize an online currency. It takes quite a good amount of time for that to happen.

Government will never support bitcoin in future, only uncorrupted government will accept but its difficult to find honest government at a moment.

They will support bitcoin since they have too.

Many governements already regulated bitcoin, the next step would be to implement it in their financial systems/markets. From there it will be used by them.

Agree.It's just a question of time until the first country starts to support/use Bitcoin in one way or the other.Even if it would be a small country, that doesn't really matter.It will give BTC much more legitimacy and others will follow.

[co5hike]

If each and every country accepts bitcoin, then fiat might go worthless if bitcoin rise to such a huge amount which is unreachable in a short or a limited term.

I think it would seem impossible if bitcoin is accepted in all countries? while to get the legalization of one country alone. bitcoin still can not get it?

Bitcoin has only been in circulation for a few years. It takes time and thorough research for the government to legalize an online currency. It takes quite a good amount of time for that to happen.

Government will never support bitcoin in future, only uncorrupted government will accept but its difficult to find honest government at a moment.

They will support bitcoin since they have too.

Many governements already regulated bitcoin, the next step would be to implement it in their financial systems/markets. From there it will be used by them.

Agree.It's just a question of time until the first country starts to support/use Bitcoin in one way or the other.Even if it would be a small country, that doesn't really matter.It will give BTC much more legitimacy and others will follow.

Yeah someone needs to take an initiative and that will be followed by many other countries in future, as it will take bitcoin to very higher level in future.

[richardsNY]

If each and every country accepts bitcoin, then fiat might go worthless if bitcoin rise to such a huge amount which is unreachable in a short or a limited term.

I think it would seem impossible if bitcoin is accepted in all countries? while to get the legalization of one country alone. bitcoin still can not get it?

Bitcoin has only been in circulation for a few years. It takes time and thorough research for the government to legalize an online currency. It takes quite a good amount of time for that to happen.

Government will never support bitcoin in future, only uncorrupted government will accept but its difficult to find honest government at a moment.

They will support bitcoin since they have too.

Many governements already regulated bitcoin, the next step would be to implement it in their financial systems/markets. From there it will be used by them.

Agree.It's just a question of time until the first country starts to support/use Bitcoin in one way or the other.Even if it would be a small country, that doesn't really matter.It will give BTC much more legitimacy and others will follow.

Yeah someone needs to take an initiative and that will be followed by many other countries in future, as it will take bitcoin to very higher level in future.

Bitcoin won't be the same as a wealthy and well developed country will start adopting Bitcoin in any way (I don't think this will ever happen). Regulations and policies will be very tight and make it nearly impossible to get the same sort of freedom as we have now. That's why I prefer Bitcoin to stay an alternative currency.

[Wendigo]

Supply and demand, bitcoin price may reach 10k but its useless if merchants don't accept bitcoin.

Why is it useless if merchants don't accept it?
I can just sell it for $10k and give the merchants fiat. 

That's true but Bitcoin enthusiasts expect that if the price of Bitcoin sky rockets it would be able to replace fiat in countries where there is a very high inflation rate. I don't think this is going to happen though as the value per Bitcoin should be very stable in order for it to act as a digital currency. No one would like to use money as national currency with such a volatile nature like Bitcoin is today. In my opinion Bitcoin will stay as an investment vehicle for decades and we will be exchanging it back and forth for local fiat.

[LarryHocks]

In the end we have to agree that fiat is important, the role it has in day to day transactions is something bitcoin can't take over. What's more important is that we embrace bitcoin and share it with friends and family. Only if bitcoin reaches the masses then it will be a succesfull project.

[umaOuma]

In the end we have to agree that fiat is important, the role it has in day to day transactions is something bitcoin can't take over. What's more important is that we embrace bitcoin and share it with friends and family. Only if bitcoin reaches the masses then it will be a succesfull project.

Even if the adoption reaches to extreme level, it cannot replace fiat as majority of people are earning in fiat and they are more comfortable in using it.

[BitcoinPaw]

I think no, bitcoin depends on fiat but fiat doesn't depend on bitcoin obviusly. Bitcoin price can't change world economy now i think.

[techgeek]

If each and every country accepts bitcoin, then fiat might go worthless if bitcoin rise to such a huge amount which is unreachable in a short or a limited term.

I think it would seem impossible if bitcoin is accepted in all countries? while to get the legalization of one country alone. bitcoin still can not get it?

Bitcoin has only been in circulation for a few years. It takes time and thorough research for the government to legalize an online currency. It takes quite a good amount of time for that to happen.

Government will never support bitcoin in future, only uncorrupted government will accept but its difficult to find honest government at a moment.

I tend to agree with this statement.

Government will never support it, and hoping for no corruption on any level is sort of a dellusional concept of thinking esp when bribery is always present.

[HarryKPeters]

If each and every country accepts bitcoin, then fiat might go worthless if bitcoin rise to such a huge amount which is unreachable in a short or a limited term.

I think it would seem impossible if bitcoin is accepted in all countries? while to get the legalization of one country alone. bitcoin still can not get it?

Bitcoin has only been in circulation for a few years. It takes time and thorough research for the government to legalize an online currency. It takes quite a good amount of time for that to happen.

Government will never support bitcoin in future, only uncorrupted government will accept but its difficult to find honest government at a moment.

They will support bitcoin since they have too.

Many governements already regulated bitcoin, the next step would be to implement it in their financial systems/markets. From there it will be used by them.

Agree.It's just a question of time until the first country starts to support/use Bitcoin in one way or the other.Even if it would be a small country, that doesn't really matter.It will give BTC much more legitimacy and others will follow.

Good to see something who understands it. In a while either a large firm or a country will come over and from there step by step more and more will follow. Remember it's not about investing for them. But just accepting more ways to increase their profit.

[MaxTax]

Nah there will always be a role for fiat. But that's not bad since fiat is not the enemy. The enemy are the banks who have been charging us too much fees. For a long time.
The enemy is the government who tries to follow our every movement..

[sempak]

could happen .When rates bitcoin has a high price, it will make some commodities become meager. bitcoin prices could beat everybody. and bitcoin will be the most important commodity.

[1Referee]

Nah there will always be a role for fiat. But that's not bad since fiat is not the enemy. The enemy are the banks who have been charging us too much fees. For a long time.
The enemy is the government who tries to follow our every movement..

The fee structure of banks isn't the only real problem. It's the fact that we don't own the money we store at banks while a lot people don't even realize that. They feel safe and secure when it comes to their bank, but once the governments force banks to cut a certain part of our total balance we have in our bank accounts and savings accounts, then they are forced to obey. It makes them thieves.

[betohell]

Supply and demand, bitcoin price may reach 10k but its useless if merchants don't accept bitcoin.

I think if the merchant does not accept bitcoin. of course the price will not reach that high? you know the price rise due to high demand? if none of the traders? would be less demand

[Viyamore]

Supply and demand, bitcoin price may reach 10k but its useless if merchants don't accept bitcoin.

I think if the merchant does not accept bitcoin. of course the price will not reach that high? you know the price rise due to high demand? if none of the traders? would be less demand

I agree on it chief ,depends on how many merchants who use bitcoins and accept it as mode of payment .but if we think if that happens  ? I think bitcoin will be banned in a country .because the government will not be earned as well .unless they do bitcoins .also the government will not allow bitcoin to replace the fiat money.

[Finestream]

I think that will happen, fiat will become useless that time. But I think it will be 10 years from now, people will go fully digital as they will already understand how valuable using a bitcoins. All their finances will be properly monitored with the help of the blockchain and that time will come that transactions will be very fast, easy, and cheap. More transactions will happen and our economy will progress.

[elyas772]

I think that will happen, fiat will become useless that time. But I think it will be 10 years from now, people will go fully digital as they will already understand how valuable using a bitcoins. All their finances will be properly monitored with the help of the blockchain and that time will come that transactions will be very fast, easy, and cheap. More transactions will happen and our economy will progress.

regardless of the price of bitcoin, fiat will remain worthy and fiat will not be replaced. because you yourself will definitely need fiat

[opossum]

I think that will happen, fiat will become useless that time. But I think it will be 10 years from now, people will go fully digital as they will already understand how valuable using a bitcoins. All their finances will be properly monitored with the help of the blockchain and that time will come that transactions will be very fast, easy, and cheap. More transactions will happen and our economy will progress.

regardless of the price of bitcoin, fiat will remain worthy and fiat will not be replaced. because you yourself will definitely need fiat

Yeah we need fiat for sure as there are many places where only fiat can help us, and there will be many users who will feel comfortable in using fiat currency.

[Divinespark]

No. $10k is achievable just via the store of value attribute of BTC. Maybe even more.
My guess is that if BTC ever moves beyond the 1Trillion mkt cap, which would be circa $50k, then there will have been significant fiat destruction

[An0nym0us]

I think that is not possible, fiat will always be used by majority of people in future too, no doubt will also use bitcoin once it gets popular but fiat cannot simply disappear.