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goldcoinminer
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June 08, 2016, 02:07:43 AM |
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For a minute let us assume that fiat has been stopped, then how we will determine what the price of bitcoins is, I mean what is the worth of 1 bitcoins for a user ? So you can see fiat cant go  Lol it's a very good logic I think Fiat will never die. fiat will live as usual and when that happens the price will not make fiat into fall. but all difficult to predict ? because all could happen. the future is something vague and unclear. let's wait and see I agree, we might be surprise in the future with the new development that would make the our current FIAT or even bitcoins worthless. But one thing I am certain that in the future we are going to adopt digital money as it would give us a comfort to transact. The internet makes all the things possible. |
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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diodio5
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June 08, 2016, 11:59:18 PM |
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If bitcoin was worth $10,000 and fiat was worthless then bitcoin would also be worthless no? Let's say fiat was worthless it would have nothing to do with bitcoin but everything to do with a plan of a few. My bitcoin would never be sold for worthless paper now or in the future.
what if bitcoin overtake the fiat? all countries use bitcoin as their main currency? I knew this was something that stupid? but we're thinking if bitcoin worth that high because if bitcoin worth as high as it would have. there is something happening in the world? possible disaster ? |
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techgeek
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June 09, 2016, 12:09:29 AM |
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If bitcoin was worth $10,000 and fiat was worthless then bitcoin would also be worthless no? Let's say fiat was worthless it would have nothing to do with bitcoin but everything to do with a plan of a few. My bitcoin would never be sold for worthless paper now or in the future.
All transactions will now be BTC1 = BTC1. Who the hell will sold coins for $10,000 if fiat is worthless. People will not sold their coins due to the fact that fiat will now be worthless. So what is the sense of dreaming a skyrocket price of bitcoin if fiat is worthless. Fiat will never be worthless globally and if it is we will really no longer care about bitcoin. We will all care about surviving. Like I said my bitcoin is safe and will never be sold for fiat unless emergency comes up, which means I am waiting until I can by all I need as bitcoin prices. Like you said above 1btc to me = 1btc. Fiat is one of those situational based on the size of the country. And if the country itself, you can see smaller countries fail without the help of others - you can see a small scale on greece. And what happens if lending doesnt happen, so the only question would be how long would it take to become like greece. |
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diodio5
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June 09, 2016, 12:30:32 AM |
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For a minute let us assume that fiat has been stopped, then how we will determine what the price of bitcoins is, I mean what is the worth of 1 bitcoins for a user ? So you can see fiat cant go yeah of course if fiat die there would not be used to look at the exchange rate on bitcoin? then for what bitcoin? is it bitcoin currency could be the only one? I thought it was impossible. fiat will survive whatever happens.although the price of bitcoin explode. Fiat will stay alive |
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Nouelle-Hunter
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June 09, 2016, 01:37:54 AM |
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Well I think fiat will not be worthless even if bitcoin cross that price because many will trade it into fiat and fiat will still be used by many because the government will not let bitcoin overthrow bitcoin.  |
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agustina2
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June 09, 2016, 05:02:23 AM |
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Fiat is one of those situational based on the size of the country.
And if the country itself, you can see smaller countries fail without the help of others - you can see a small scale on greece. And what happens if lending doesnt happen, so the only question would be how long would it take to become like greece.
Also fiat can touch even those poor countries thru physical transactions in their market. Bitcoin has nothing to do with that kind of transaction. So why desiring that fiat will be worthless. They don't see the major problem once that thing is happen. |
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tabas
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June 09, 2016, 07:09:19 AM |
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Well I think fiat will not be worthless even if bitcoin cross that price because many will trade it into fiat and fiat will still be used by many because the government will not let bitcoin overthrow bitcoin. Fiat money will always be needed, it will be just worthless when all the countries will going to have an agreement and they are going to abolish the use of fiat money. And they will just only have one currency at all, or the universal currency. Which is the bitcoin is going to be the first option. Only if, that happens. |
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shogdite
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June 09, 2016, 08:21:23 PM |
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If bitcoin was worth $10,000 and fiat was worthless then bitcoin would also be worthless no? Let's say fiat was worthless it would have nothing to do with bitcoin but everything to do with a plan of a few. My bitcoin would never be sold for worthless paper now or in the future.
what if bitcoin overtake the fiat? all countries use bitcoin as their main currency? I knew this was something that stupid? but we're thinking if bitcoin worth that high because if bitcoin worth as high as it would have. there is something happening in the world? possible disaster ? Imho bitcoin will never 'over take' fiat. Many or most countries may use it beside their currency but you need to realize what 'their currency' is and that is control and an illusion. They will never give that up. Even if the time came where a country did, never would the whole world. Regardless of how much bitcoin goes to there will always be fiat and if we're honest it is already worthless but the illusion makes the masses believe its not. If there isn't fiat as I said we would have bigger worries than the price of bitcoin. |
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Sir_lagsalot
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June 09, 2016, 09:03:23 PM |
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Bitcoin will honestly never be able to go that high in a few years. 10k is relatively small, and currencies may be driven down by this rising financial overlord, but coins will still have their collectors and metal value as such.
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Barbut
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June 09, 2016, 09:18:11 PM |
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I voted for no, like majority. I think its not possible to happen in some near future. Maybe for who know how many years if everything become digital, like in the movies, only then can be possible that btc worth a lot ( if he survive until then) and fiat to be wortlhes.
Here we are talking about far far future. So for now there is no chance for something like that to happen, or in next 50 years.
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agustina2
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Merit: 1008
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June 10, 2016, 04:35:17 AM |
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I voted for no, like majority. I think its not possible to happen in some near future. Maybe for who know how many years if everything become digital, like in the movies, only then can be possible that btc worth a lot ( if he survive until then) and fiat to be wortlhes.
Here we are talking about far far future. So for now there is no chance for something like that to happen, or in next 50 years.
Even for a decades it won't happen. Just because bitcoin is becoming a strong currency, it can now be considered as factor to replace fiat in the future. Are those believers are dumb freak? Your expectations are too much. You didn't know what will going if fiat money will become worthless. |
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goldcoinminer
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June 10, 2016, 05:48:09 AM |
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I voted for no, like majority. I think its not possible to happen in some near future. Maybe for who know how many years if everything become digital, like in the movies, only then can be possible that btc worth a lot ( if he survive until then) and fiat to be wortlhes.
Here we are talking about far far future. So for now there is no chance for something like that to happen, or in next 50 years.
Even for a decades it won't happen. Just because bitcoin is becoming a strong currency, it can now be considered as factor to replace fiat in the future. Are those believers are dumb freak? Your expectations are too much. You didn't know what will going if fiat money will become worthless. You are right out there, that would not happen, FIAT will remain FIAT in the following years or decades. The government would not allow that from happening as that is the only way they can make money from taxes, with bitcoins widely use by everyone they will be having a hard time to collect taxes as some of them are anonymous and would remain anonymous to avoid taxes. |
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blackmachinegun
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June 10, 2016, 06:25:32 AM |
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Well I think fiat will not be worthless even if bitcoin cross that price because many will trade it into fiat and fiat will still be used by many because the government will not let bitcoin overthrow bitcoin. I think if bitcoin worth that high. people will not buy bitcoin? because bitcoin is very expensive? it is an unreasonable price. let's talk highest prices in bitcoin reasonable and although the price rose to $ 1,500. it will have no effects on fiat |
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Chrismeister
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June 10, 2016, 09:28:54 AM |
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We have to stay realistic and the chance is really low that Bitcoin can reach that high value because the most people are even thinking that it wont even reach the $600 this year.
So it have to also take a long time until the value will be more worth and we have just to deal with it.
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rio3233
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June 10, 2016, 09:55:46 AM |
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I think the price of bitcoin will not affect the fiat, even the bitcoin's price is $10.000. Fiat is always worth though. But if the price of bitcoin is real on $10.000, i'm very happy.
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romero121
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June 10, 2016, 11:20:29 AM |
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I think the price of bitcoin will not affect the fiat, even the bitcoin's price is $10.000. Fiat is always worth though. But if the price of bitcoin is real on $10.000, i'm very happy.
Exactly fiat won't get affected with the increase of bitcoin price, as both were not interconnected to each other. Also the direct acceptance of bitcoin for products and services were very low. For this reason anyway bitcoin needs to depend upon fiat but fiat doesn't need to depend on bitcoin. |
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European Central Bank
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June 10, 2016, 11:34:51 AM |
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Is this conversation still continuing? Did anyone here go to school? When you were there did some of the teachers tell you about adding up and stuff? Global commerce is gonna have a little bit of trouble operating with a $160 billion market cap.
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randy8777
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Activity: 896
Merit: 1000
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June 10, 2016, 11:42:03 AM |
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Well I think fiat will not be worthless even if bitcoin cross that price because many will trade it into fiat and fiat will still be used by many because the government will not let bitcoin overthrow bitcoin. I think if bitcoin worth that high. people will not buy bitcoin? because bitcoin is very expensive? it is an unreasonable price. let's talk highest prices in bitcoin reasonable and although the price rose to $ 1,500. it will have no effects on fiat you seem to forget that bitcoin is divisible into much smaller units. to be more precise, you can divide a single bitcoin into 100,000,000 satoshi's if you so wish. |
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deisik
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Merit: 1280
English ⬄ Russian Translation Services
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June 10, 2016, 03:14:05 PM |
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Well I think fiat will not be worthless even if bitcoin cross that price because many will trade it into fiat and fiat will still be used by many because the government will not let bitcoin overthrow bitcoin. I think if bitcoin worth that high. people will not buy bitcoin? because bitcoin is very expensive? it is an unreasonable price. let's talk highest prices in bitcoin reasonable and although the price rose to $ 1,500. it will have no effects on fiat you seem to forget that bitcoin is divisible into much smaller units. to be more precise, you can divide a single bitcoin into 100,000,000 satoshi's if you so wish. And those who already have bitcoins become richer just for doing nothing at the expense of new comers, i.e. buyers... A so-called premium for being early adopters, yeah |
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agustina2
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Activity: 2436
Merit: 1008
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June 10, 2016, 03:25:58 PM |
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And those who already have bitcoins become richer just for doing nothing at the expense of new comers, i.e. buyers...
A so-called premium for being early adopters, lol
I doubt those early adopters still have bitcoin that really has great numbers on hold. If you are an early adopter you will such make move when the price hits above $1000 then catastrophe happen after that to minimize the loss. |
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