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

[goldcoinminer]

My answer is both yes and no because two things can happen. In this situation, one this is for sure, we assume that Bitcoin price is 1000$. I can think of two scenarios:

1. Somebody is holding a huge percentage of the total Bitcoins and choose to not sell any. He's just holding it until the end. This makes Bitcoin scarce since a huge portion will not be on the market anymore. Scarcity = Increase in value. So, fiat still has worth in this case.

2. People realized that they are tired of getting a huge sum of income tax when they get paid with fiat so they choose to get paid with Bitcoin. People have finally embraced the idea of Bitcoin and dumped their fiat. In this case, fiat will have lesser value.

It is not the peoples game because anytime the government can declare using bitcoin as illegal one they saw a big threat that there people will not already follow the laws in their respective countries, the government are created to make and implement laws and their basic source of income is the taxes from the people which I am sure they do not want to compromise that.

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[chaser15]

I think the price of bitcoin will not affect the fiat. Fiat will stay the way they are, and if the price of bitcoin reach $10.000 i think many people will start using bitcoin. Realy can't for image the on the day.

I think no. If bitcoin price will be $10,000, then most of the bitcoin users will just convert their bitcoin into fiat.

Yes more people will entered bitcoin world but their primarily purpose is to gain bitcoin then exchange it to fiat which is $10,000 exchange rate if ever that will happen.

[20kevin20]

I think the price of bitcoin will not affect the fiat. Fiat will stay the way they are, and if the price of bitcoin reach $10.000 i think many people will start using bitcoin. Realy can't for image the on the day.

I think no. If bitcoin price will be $10,000, then most of the bitcoin users will just convert their bitcoin into fiat.

Yes more people will entered bitcoin world but their primarily purpose is to gain bitcoin then exchange it to fiat which is $10,000 exchange rate if ever that will happen.

No, if Bitcoin would reach $10k, it would convince a lot of people to buy, hoping for another huge increase. Like in 2013 when BTC rose up to $1k, everyone would simply invest.

[Betwrong]

I think the price of bitcoin will not affect the fiat. Fiat will stay the way they are, and if the price of bitcoin reach $10.000 i think many people will start using bitcoin. Realy can't for image the on the day.

I think it's just the other way round, first more people start using Bitcoin and then the price of it rises to $10k or whatever. IMO $10,000 for 1 Bitcoin is not that unrealistic as it may look. I think this might happen when 20 times more people than now will be using Bitcoin (probably a matter of 2-3 years).

[chaosknight]

I think the price of bitcoin will not affect the fiat. Fiat will stay the way they are, and if the price of bitcoin reach $10.000 i think many people will start using bitcoin. Realy can't for image the on the day.

I think it's just the other way round, first more people start using Bitcoin and then the price of it rises to $10k or whatever. IMO $10,000 for 1 Bitcoin is not that unrealistic as it may look. I think this might happen when 20 times more people than now will be using Bitcoin (probably a matter of 2-3 years).

I don't think that price can be achieved in next 3 years, its taking long time even to cross $1k so I think it will take more then 10 years to achieve that price but no one is confident about it.

[oceanriver]

I firmly believe that $10k is easily achievable just via the store of value properties alone of BTC.
If BTC ever moves beyond the 1 Trillion mkt cap, eminently possible even inveitable given that Central Banks are pumping 100s of Billions into the global economy every month, the fiat world at its core will start getting decimated

of course it is really achievable and in my opinion we will reach such a big price in only like a few years or something like that

[mark coins]

I firmly believe that $10k is easily achievable just via the store of value properties alone of BTC.
If BTC ever moves beyond the 1 Trillion mkt cap, eminently possible even inveitable given that Central Banks are pumping 100s of Billions into the global economy every month, the fiat world at its core will start getting decimated

of course it is really achievable and in my opinion we will reach such a big price in only like a few years or something like that

It can be achieved but not so easily and no one knows when exactly it will happen but I don't think that people will prefer to hold their coins till it reaches to that value.

[Hamtard]

I firmly believe that $10k is easily achievable just via the store of value properties alone of BTC.
If BTC ever moves beyond the 1 Trillion mkt cap, eminently possible even inveitable given that Central Banks are pumping 100s of Billions into the global economy every month, the fiat world at its core will start getting decimated

of course it is really achievable and in my opinion we will reach such a big price in only like a few years or something like that

It can be achieved but not so easily and no one knows when exactly it will happen but I don't think that people will prefer to hold their coins till it reaches to that value.

If the price trend of the bitcoin is the same as before, I  think the price of bitcoin can reach that level in a few years.

[mirakal]

I firmly believe that $10k is easily achievable just via the store of value properties alone of BTC.
If BTC ever moves beyond the 1 Trillion mkt cap, eminently possible even inveitable given that Central Banks are pumping 100s of Billions into the global economy every month, the fiat world at its core will start getting decimated

of course it is really achievable and in my opinion we will reach such a big price in only like a few years or something like that

It can be achieved but not so easily and no one knows when exactly it will happen but I don't think that people will prefer to hold their coins till it reaches to that value.

If the price trend of the bitcoin is the same as before, I  think the price of bitcoin can reach that level in a few years.

The history will repeat but it will not happen that bitcoin will fall again, we are in the new times that bitcoin will succeed because it gains already a lot of popularity already and the volume is increase with the amount of investment and the volume of users.

[X-ray]

I firmly believe that $10k is easily achievable just via the store of value properties alone of BTC.
If BTC ever moves beyond the 1 Trillion mkt cap, eminently possible even inveitable given that Central Banks are pumping 100s of Billions into the global economy every month, the fiat world at its core will start getting decimated

of course it is really achievable and in my opinion we will reach such a big price in only like a few years or something like that

It can be achieved but not so easily and no one knows when exactly it will happen but I don't think that people will prefer to hold their coins till it reaches to that value.

it's indeed possible to be achieved but keep in mind that price rising will not going to happen forever,there will be price falling and could make even a bitcoin that worth $10,000 turn into $100 so all the possibilities could be happening no matter what

[JessicaSe]

I firmly believe that $10k is easily achievable just via the store of value properties alone of BTC.
If BTC ever moves beyond the 1 Trillion mkt cap, eminently possible even inveitable given that Central Banks are pumping 100s of Billions into the global economy every month, the fiat world at its core will start getting decimated

of course it is really achievable and in my opinion we will reach such a big price in only like a few years or something like that

It can be achieved but not so easily and no one knows when exactly it will happen but I don't think that people will prefer to hold their coins till it reaches to that value.

it's indeed possible to be achieved but keep in mind that price rising will not going to happen forever,there will be price falling and could make even a bitcoin that worth $10,000 turn into $100 so all the possibilities could be happening no matter what

Anything is possible with bitcoins, it may or may not touch that price in future, no one can predict what exactly will happen in future, so without thinking of that I will prefer to take short term benefits.

[iqlimasyadiqa]

for me not. because bitcoin has its place, respectively. bitcoin digital currency is currently on computerized ecosystem.
bitcoin price increase will not affect the financial system in the world.

[Hanacerty]

for me not. because bitcoin has its place, respectively. bitcoin digital currency is currently on computerized ecosystem.
bitcoin price increase will not affect the financial system in the world.

For the time being, the bitcoin price is still very low, so the total market capitalisation is also low. When the price of bitcoin is $10,000 each, it will affect the financial system.

[Altcoinmoney]

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

Where is that topic maybe link us in this thread as i would like to read the reasoning behind that kind of thinking. If bitcoin reaches $10,000 that is not the world adopted it but only a small amount in the scheme of things. The only time fiat becomes worthless in some countries is when inflation goes out of control, check Zimbabwe for reference. In short no fiat will not become worthless because of bitcoin but there is a chance of it becoming worthless should certain people want it to.

If the bitcoin price is that high that would be great becuase i know for sure that allot of people like to see the price of the bitcoin at that hight allot of people would be very happy about it.

[Skaven]

If bitcoin price reaches that amount then I think fiat will be worthless indeed. Because to even reach this high value with bticoin fiat HAS to be worthless, it will be the reason bitcoin goes up.
But for fiat to go that low there has to be a big crisis and that will not happen, banks wouldn't let that happen either and the world would spin 180 degrees cause alot of people would go bankrupt.

[Japinat]

Fiat will never be worthless regardless of the price of bitcoin, we are just less than 1 percent of the total population so obviously we cannot beat the people who are using fiat, we need fiat to succeed and that is the story and nothing else.

[entrepmind23]

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 don't think fiat will be worthless. Bitcoin will be use like gold which can be use for trading and other purposes but fiat will still be there because it is the one use by the general public now and it will still be use for decades. There are still so many people that have limited access to technology and some even to electricity so it would not be possible for them to use bitcoin. They will still use fiat because it's the one widely used and accepted by all people.

[BitHodler]

Fiat will never be worthless regardless of the price of bitcoin, we are just less than 1 percent of the total population so obviously we cannot beat the people who are using fiat, we need fiat to succeed and that is the story and nothing else.

Exactly that! And to be even more precise, we as Bitcoin users are most likely not even 0.05% of the world population.

We are a far minority that most likely won't even make a dent in the overall fiat-usage from people.

If we at some point manage to gain 1% of the world population as Bitcoin user, then we have done an amazing job.

[BossMacko]

Well if flat will be worthless then no one will exchange Bitcoin to flat anymore because flat is worthless already. But what i think is flat will never become worthless even Bitcoin price in the future will become really big. Because $ is our standard money wherein everyone knows how to use it.

[warwar]

Fiat will never be worthless regardless of the price of bitcoin, we are just less than 1 percent of the total population so obviously we cannot beat the people who are using fiat, we need fiat to succeed and that is the story and nothing else.

Exactly that! And to be even more precise, we as Bitcoin users are most likely not even 0.05% of the world population.

We are a far minority that most likely won't even make a dent in the overall fiat-usage from people.

If we at some point manage to gain 1% of the world population as Bitcoin user, then we have done an amazing job.

I agree. Bitcoin community / bitcoin user are too few than the fiat user because it is all over the world then if that price will reach then i think fiat is not useless because only few are users of the bitccoin and it has no impact on our fiats