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Hashminers
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December 15, 2015, 10:06:27 AM |
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Fiat is not worthless in the first place, fiat is just a paper money that people always print. The fiat money will be just the same value and bitcoin maybe it will increase, but is still the same value. We can't say is worthless, because we need it to be very worth so that bitcoin will be it too.
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"There should not be any signed int. If you've found a signed int
somewhere, please tell me (within the next 25 years please) and I'll
change it to unsigned int." -- Satoshi
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Fidemoga
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December 15, 2015, 10:13:34 AM |
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When the bitcoin price is $10k, the total value of bitcoin will be only $200 billion. That is nothing compared to the total amount of fiat in existence.
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MaxTax
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December 15, 2015, 10:25:27 AM |
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No it won't, I can't say that I agree with this statement. Fiat will stay the same, you'll still need convert to fiat if your country hasn't adapted to bitcoin yet. Which in my case it hasn't yet. So no fiat won't be worthless when bitcoin reaches $10.000.
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avw1982
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December 15, 2015, 12:45:20 PM |
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In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
Nope Fiat is always worthy because Our government economy hanging fiat currency's value only not with bitcoin's value and its range But As Bitcoin user Bitcoin is worthy than any fiat currency. |
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HostSurf
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December 15, 2015, 01:59:21 PM |
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Fiat won't be worthless, it will take years for more people to adapt to bitcoin or to even accept bitcoin as payment. As long as the main merchants are accepting fiat, you're going to have to exchange in order to live your life. I haven't met a single person online or real life who is able to live without fiat at the moment.
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tiggytomb
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Activity: 1848
Merit: 1000
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December 15, 2015, 02:02:26 PM |
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No. Fiat won't become worthless, it simply cannot happen as the likes of bitcoin will never reach true 100% adoption not in our lifetimes anyway, Fiat will always be worth something.
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Malsetid
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December 15, 2015, 02:09:21 PM |
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So far, most of the answers are that fiat will not be worthless. I agree with that. Bitcoin will not be in main stream in many years.
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Oscoda
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December 15, 2015, 02:16:48 PM |
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Of course not, do you even need a reminder as to who and what controls the fiat? Governments of course and those stuck up companies.
Because of them, fiat will never be worthless to us.
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Furio
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Activity: 938
Merit: 1000
BTC | LTC | XLM | VEN | ARDR
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December 15, 2015, 02:23:30 PM |
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Since Bitcoin is priced in FIAT, if FIAT is worthless, bitcoin would be so too....
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mtnsaa
Legendary
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Activity: 1568
Merit: 1000
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December 15, 2015, 02:27:47 PM |
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Fiat won't be worthless anytime soon, Bitcoin is like a stock or a commodity right now, it won't be adopted anytime soon by the masses because of how complicated it is to use for common folks. So while it can be more easy to "trade" than let's say Google's or Apple's stocks, it's still far from being an actual currency, it's not even recognizable as that right now.
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foxkyu
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December 15, 2015, 02:57:31 PM |
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In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
Nope. I don't agree with your statement. Fiat currencies still have value, even if bitcoin reach $100.000. Not everybody using bitcoin, especially for small location which have no internet connection. Bitcoin cannot replace fiat currency for some reason. Only bitcoin trader who will be happy if bitcoin can reach that price. |
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HarryKPeters
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December 15, 2015, 04:14:32 PM |
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There will always.. well always for next decades for sure, the need for fiat. Some people live in their own Online world.
Online is not 'everything', a lot trading is happening offline, and for that we need fiat..
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Yakamoto
Legendary
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Activity: 1218
Merit: 1007
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December 15, 2015, 04:39:39 PM |
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If Bitcoin was to hit $10k a piece, I doubt that fiat money would be worthless. Its more likely that Bitcoin would hit $10,000 during a market crash or even just hit that price over time, but certainly not when fiat becomes worthless.
The market cap would only be $210,000,000,000, and that frankly isn't high enough for a point in time when fiat would buy nothing. If Bitcoins were worth over $1m a coin, then I could be more inclined to determine fiat as worthless.
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bitsmichel
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December 15, 2015, 06:52:14 PM |
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No, we will need fiat. Bitcoin is still to complicated for many people
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MaritiJames3
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December 15, 2015, 07:24:01 PM |
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No, we will need fiat. Bitcoin is still to complicated for many people
Yes it is, it's going to take years for more people to adapt to itcoin. There are so many people in the world who don't even know something like bitcoins exists. |
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sishendaoye
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December 15, 2015, 07:48:08 PM |
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I think with out fiat bitcoin will just be worthless. Fiat would be nice if they can increase so that the value of bitcoin will be good.
At the end fiat will be just fiat and we need it for bitcoin to grow.
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ivanst776
Legendary
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Activity: 1540
Merit: 1003
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December 15, 2015, 07:54:40 PM |
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If bitcoin price will hit $10.000, then fiat will not be worthless it will have it own value (maybe less than now) but no high decrease of fiat value.
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Bayuu
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December 15, 2015, 07:56:10 PM |
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Probably. I'd say the fiat is already worthless though. It was always worthless paper and it'll continue to be worthless paper.
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log2exp
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December 15, 2015, 08:07:32 PM |
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We should use a gallon of milk or a loaf of bread, or a pizza to measure the value. Which would always hold relative value to be meaningful.
Using fiat as the measure is just an asymptote approaching zero on the long term, eventually they will be worthless.
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CryptoBjorn
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December 15, 2015, 08:20:37 PM |
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Well food was the payment in the old times. They change it to silvir and gold.
Now is a fiat money so I don't think it will change that fast. So I think that fiat won't be worthless we still need it I think.
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