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

[extrabyte]

I think that bitcoin is affected by fiat, not the opposite, fiat will still be stable with or without bitcoin success.

[Emersonnets]

I think that bitcoin is affected by fiat, not the opposite, fiat will still be stable with or without bitcoin success.

I agree with your statement. Fiat will still be around even when 1 bitcoin is worth $10000. Fiat is not depending on bitcoin, but bitcoin is relying on dollar, value wise

[extrabyte]

I think that bitcoin is affected by fiat, not the opposite, fiat will still be stable with or without bitcoin success.

I agree with your statement. Fiat will still be around even when 1 bitcoin is worth $10000. Fiat is not depending on bitcoin, but bitcoin is relying on dollar, value wise

I am saying this because fiat is very large comparing to bitcoin, also the bitcoin community is very very low at the moment.

[fravia]

of course it will not be worthless, if bitcoin will not replace all the world money i strongly believe that there will be a decent amount of people who will still believe in central banks and will keep on using the money we mostly use nowadays though i think that its just a question in time when fiat will go extinct and will be replaced by bitcoins

[Pollak]

Fiat is needed if you like it or not. If bitcoin goes to 10k It is just a strong indicator people trust a lot in bitcoin.
It doesn't mean they have lost trust in fiat.

[HarryKPeters]

Fiat is needed if you like it or not. If bitcoin goes to 10k It is just a strong indicator people trust a lot in bitcoin.
It doesn't mean they have lost trust in fiat.

Well said. IT's not about killing fiat, it's about bitcoin being used by the rest of the world.
The more the better. Eventually the role of fiat will decline but it will still be there.

[Luqman]

Bitcoin's price will never affect fiat in any way, this could be happen if people over the world using bitcoin then fiat become worthless..

I think people in the world will use various digital money including bitcoin. The value of digital money is independent of the fiats.

As I said above, if people over the world using bitcoin then no need for people using fiat anymore.

[samanas]

Bitcoin's price will never affect fiat in any way, this could be happen if people over the world using bitcoin then fiat become worthless..

I think people in the world will use various digital money including bitcoin. The value of digital money is independent of the fiats.

As I said above, if people over the world using bitcoin then no need for people using fiat anymore.

At that time, everything will be valued against bitcoin. There will be no fiat. Stocks will be valued as how many satoshi.

[jaysabi]

BTC willl not reach $10.000, because BTC mining is going up worldwide and therefore, price will not go so high. 

this is no sense, because with the halving the mienrs will not dump so much, actually their dumping pressure is not that significant for the market

what is really matter is the demand not the supply

Gosh, the price is where supply meets demand. To say supply doesn't matter ignores literally half the price equation.

[Junko]

Fiat won't be worthless at $10k per bitcoin, but I hear the Smithsonian Museum is already starting to look for prospective places to display examples of fiat currency. Like maybe next to Dorothy's Ruby Red Slippers from the Wizard of Oz.

[Amph]

BTC willl not reach $10.000, because BTC mining is going up worldwide and therefore, price will not go so high.  

this is no sense, because with the halving the mienrs will not dump so much, actually their dumping pressure is not that significant for the market

what is really matter is the demand not the supply

Gosh, the price is where supply meets demand. To say supply doesn't matter ignores literally half the price equation.

the supply is always the same, because there basically the same people that are dumping and manipulate the market

the demand on the other hand can grow to unbelievable level or remain the same, or diminish, demand is the key factor

only with a bigger demand a better price can  be achieved, with a lower supply you will not have a better value than the current one

[jaysabi]

BTC willl not reach $10.000, because BTC mining is going up worldwide and therefore, price will not go so high. 

this is no sense, because with the halving the mienrs will not dump so much, actually their dumping pressure is not that significant for the market

what is really matter is the demand not the supply

Gosh, the price is where supply meets demand. To say supply doesn't matter ignores literally half the price equation.

the supply is always the same, because there basically the same people that are dumping and manipulate the market

the demand on the other hand can grow to unbelievable level or remain the same, or diminish, demand is the key factor

only with a bigger demand a better price cna be achieved, with a lower supply you will not have a better value than the current one

Supply is not always the same. The supply changes just as quickly and easily as demand. Both are equally important to price. When the government was selling off the Silk Road coins, it wasn't lack of demand that was pushing price down, it was a glut of sudden supply. The whole point of Bitcoin is to limit supply, that's just as important to price as demand.

[johnyj]

Fiat become worthless if all the people realized the true nature of its value (cost nothing to create thus should worth nothing), but I guess majority of human are illiterate when it comes to money creation, so it could take some decades before the knowledge has been largely spread and debated, currently maybe less than 1% people know the truth

The video The Biggest Scam In The History Of Mankind has 4.4 million views and I guess only 1 million reader believe what it says , and the people who really understand it will be much less

[lahm-44]

i dont know about others but i dont think it will happen because we are still comparing the bitcoin price with the faint currency so its some where the faint value which is keeping the bitcoin value alive ..if there is no faint then on what scale we can mesure bitcoin i mean a product should be sold for a cost like a candy for 1cent so if there will be no dollars or any other faint currency then how we will know that how much bitcoins we have to pay to buy a candy.so no matter how much big the price goes but the bitcoins are still nothing without faint currency

[Amph]

BTC willl not reach $10.000, because BTC mining is going up worldwide and therefore, price will not go so high.  

this is no sense, because with the halving the mienrs will not dump so much, actually their dumping pressure is not that significant for the market

what is really matter is the demand not the supply

Gosh, the price is where supply meets demand. To say supply doesn't matter ignores literally half the price equation.

the supply is always the same, because there basically the same people that are dumping and manipulate the market

the demand on the other hand can grow to unbelievable level or remain the same, or diminish, demand is the key factor

only with a bigger demand a better price cna be achieved, with a lower supply you will not have a better value than the current one

Supply is not always the same. The supply changes just as quickly and easily as demand. Both are equally important to price. When the government was selling off the Silk Road coins, it wasn't lack of demand that was pushing price down, it was a glut of sudden supply. The whole point of Bitcoin is to limit supply, that's just as important to price as demand.

that was a case because those coin were confiscated or seized or whatever, but usually there are only the same people that dump in the market, the demand is what matter more, and what will make bitcoin skyrocket

i'm talking abotu aa demand that is not here at the moment, the demand that will come from average joe, now for example we are not increasing because of the demand...

an example whyt he demand matter more, if bitcoin were used directly instead of dumped, the supply would be pointless, if not for trading, and the demand would be the only great factor

this will be true when the acceptance will be big enuogh, and again this is only possible with higher demand which will call an huge aodption

[Denker]

Fiat become worthless if all the people realized the true nature of its value (cost nothing to create thus should worth nothing), but I guess majority of human are illiterate when it comes to money creation, so it could take some decades before the knowledge has been largely spread and debated, currently maybe less than 1% people know the truth

The video The Biggest Scam In The History Of Mankind has 4.4 million views and I guess only 1 million reader believe what it says , and the people who really understand it will be much less[/b]

Funny that you mention this video.I also watch Mike Maloney's videos and the history of money series are his most viewed ones.
I showed "The biggest scam in the history of mankind" to so many people who have a financial or economical background and believe it or not, more than half of them asked me if that is really the truth because they can not believe it! This is not what they learned during apprentice ship or in schools. Very often people just get taught what they have to know, and not what they should know!This system starts already to fool us and our children in the schools!!

[HarizDB]

No it won't. We will always have fiat, no matter how high the value of the Bitcoins gets.

[newcripto]

Even if Bitcoin will reach at 10,000$ then too it will not have effect on fiat.Fiat money has its own value as it is easy necessary to complete everyday transaction and people are dependent on it.Everyone in world is not capable to use Bitcoin freely because of one reason or other.

[photon_coin]

no

study the history of the talley stick in england

the king used wooden sticks for 'money' and 'required' you pay your tax with them


so ..... since you had to use this form of currency to pay tax

it always kept value


i would expect most nations to keep their currency as the required medium to pay tax

this keeps the scam of the worthless paper that has to be purchased from a private corporation and can be printed up at will alive, and also dilutes the ability to use better currencies/systems

......when there were "economic problems" during the administration of FDR in the U.S. it was illegal to use foreign currency and the govt. confiscated gold in excess of a few ounces.

These laws stayed on the books for years.

Given that the introduction of socialism to the US has diluted the perception of our economic state I wonder about the future.   For example food stamps.  During the depression people went hungry or went to soup kitchens.  At one point just over 30% of the population was getting help this way.

Today in America over 50% of the population is reliant on the government for food stamps and may starve without this.  Worse than the great depression.

I won't get into a discussion of how the unemployment statistics are manipulated now.....

They go away from the topic at hand..............

But these facts are background to prove that it will be a long long time and maybe never before btc or any similar thing fully replaces traditional money --------- whether we like that or not.

[fantoos]

Both Bitcoin and fiat will go ahead parallel in future.Fiat is something which will never be worthless it doesn't matter come ahead.There different kind of users and everyone has different needs so one for online as digital currency and other physical successfully can go in co-existent.