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

[Denker]

Nope, for as long as governments and corporate companies are in control of the main currency, fiat will never be worthless. As long as bitcoin hasn't adapted all over the world and you are not able to pay with it everywhere, we're all still going to need fiat.

That statement is not correct.
Currencies have shown to be worthless hundreds of times over the centuries it existed.A currency which can't buy you a loaf of bread is worthless!! And even then you can't use it as fuel "because goat shit burns better", Andreas Antonopoulos would say!
No currency ever was able to hold it's purchasing power and therefore crashed at the end.The system has collapsed.
And then it starts all over again.With a new currency.And this cycle repeats again and again.

[Rizky Aditya]

Fiat will stay exactly the same, no matter what the price of Bitcoin is. Nothing can change fiat beside the governments themself. The only chance for Bitcoin to make fiat less usable/interesting, is when people world wide start to use Bitcoin more than their fiat currency.

That is true. If Bitcoin gets adopted a lot around the world, fiat will still probably stay the same. There is always going to be someone who doesn't like Bitcoin. That's just how the world works.

[BTCdoctor]

No, you will need it to calculate how much is bitcoin worth lmao

[bryant.coleman]

You are forgetting a few of the important facts. If Bitcoin goes up to $10,000 per coin, then the market cap will be around $150 billion. Compare that to the figure of $1,500 billion each for the United States Dollar, and the Euro. This means that even if Bitcoin goes up to $10K per coin, its market cap will be much lower than that of the tier 1 fiat currencies.

[Hanacerty]

You are forgetting a few of the important facts. If Bitcoin goes up to $10,000 per coin, then the market cap will be around $150 billion. Compare that to the figure of $1,500 billion each for the United States Dollar, and the Euro. This means that even if Bitcoin goes up to $10K per coin, its market cap will be much lower than that of the tier 1 fiat currencies.

Even the US national debt is 19 trillion. That is much larger than the $150 billion of bitcoin, or 120 times larger.

[BruceLee007]

i dont think it will be worthless as all people wouldnt still go all in with bitcoins they would still have some paper money as new technologies cant spread that fast in my opinion only after a few decades usual cash will go extinct and will be replaced by bitcoins

[Slark]

As much I would like that to happen I know that FIAT won't be 'useless' ever. If USD collapse (very unlikely it will happen during our lifetime) there will be just different kind of FIAT in the future.
Unless all people on earth will have access to internet network in the future, until then bitcoin will be secondary option.

[s1ng]

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

Fiat is the first currency that every country must have.
Even bitcoin reach higher value , their status still same ( investment ) Just like gold , diamond , etc

[pereira4]

Deprecation of fiat is expected over time de its inflationary nature. The $10.000 of today, will not be the  $10.000 of tomorrow. The million dollar question is, in the future, once BTC reaches $10.000, what will be its actual purchasing power? when people say $10.000 they mean the $10.000 of today, not the $10.000 of 2020.

[Pab]

No why.Something has to change in major economys.That massive printing will finally kill economys.There are  already signes of crash  on derivatives.Look stocks,there is Dec,money making month,all that decrease is not only  oil prices going down
National currencys will exist.How you imagine btc like  one currency owned by chinise miners

[jt byte]

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

Fiat is the first currency that every country must have.
Even bitcoin reach higher value , their status still same ( investment ) Just like gold , diamond , etc

Yeah even if bitcoins is going to 1.000.000 dollar I don't think that the fiat money would be worthless after all.
The thing is if fiat money disapears what is the value of the bitcoin than?

[quentincole32]

the answer is absolutely NO,why you just ask and create this poll? fiat is always have holders,and its make fiat always exist,by the way if bitcoin raise up to $10.000 it will a great news,maybe so many people will buy bitcoin much more than adopt fiat.

[oblomov]

No, fiat will always be worth something, especially the central bank reserve currencies (USD, EUR, JPY, CHF, GBP and perhaps CNY).

Behind each of these fiat currencies are immense natural resources, industrial infrastructure, military power (actual or implied, e.g. NATO), financial assets, and human capital.

There is too much at stake for the CBs to let any one of these currencies collapse outright.


if USD/BTC = $10000 then I predict four things will happen:
- Exchange price quotes will be given in mBTC instead of BTC.
- A consensus of miners and node administrators will agree to add a decimal place or two to mBTC quotes (i.e., tenths and hundreds of a satoshi)
- faucets will pay 3 or 4 satoshi, at most
- there will be a new name for the smallest unit of BTC currency

[LuckyYOU]

Eventually fiat will not be needed, but that is not the case now.

Suppose we get a 10k Value for bitcoin, then it will just cost more money to buy it, no other changes on the markets will occur.

[knowhow]

Fiat will keep the same way its has and keeps with gold soo why would be diferent if bitcoin breaks a 10k value or above,you cant do basic things with bitcoin currently soo ,fiat conversion would be required ,and governments would start a war agains bitcoin if they see it as a thread and not inovation.

[Zaun]

Bitcoin is 'big' but not this big that it can outcompete any currency.

Both are needed and both can exist next to each other..

[tn211]

The best thing of the bitcoin that with it you can see the value what it is.
I don't know if the fiat money be worthlees, but I don't think it will because is the first think why bitcoin is worth.

[Ch3wbacca]

BTC will always be used as a medium for trade which also include legal and illegal activities hence BTC can never be 'worthless' unless the blockchain was altered to become "obsolete" or more weaker than fiat.

[Indrawan77]

No i don't agree, fiat money will not be affected by bitcoin
But if bitcoin price is more than 10000$ its mean you just have more money to spend it

Thats my opinion

[ThunderThomas]

Nope, for as long as governments and corporate companies are in control of the main currency, fiat will never be worthless. As long as bitcoin hasn't adapted all over the world and you are not able to pay with it everywhere, we're all still going to need fiat.

That statement is not correct.
Currencies have shown to be worthless hundreds of times over the centuries it existed.A currency which can't buy you a loaf of bread is worthless!! And even then you can't use it as fuel "because goat shit burns better", Andreas Antonopoulos would say!
No currency ever was able to hold it's purchasing power and therefore crashed at the end.The system has collapsed.
And then it starts all over again.With a new currency.And this cycle repeats again and again.

If you don't have fiat to compare bitcoin to, how would you know how much bitcoin would be worth? You wouldn't know that the bitcoin would be worth $10.000 at that moment. You're still going to need fiat if the world did not adapt to bitcoin yet, you're still going to need fiat to pay for you loaf of bread. So explain again why fiat would be worthless?