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

[Wapinter]

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

No.I completely disagree with this statement.Fiat would not become useless unless almost everyone on this planet start using bitcoin.In present scenario you need to convert your btc to fiat in order to buy most goods and services because you can't buy them with bitcoin.Price of bitcoin has no bearing on it replacing fiat

[planetroving]

I highly doubt that fiat will be worthless once the price of Bitcoin becomes $10,000, assuming worthless means nobody would use it anymore. When BTC reaches $10k, there will still be people will still be using fiat to trade.

[aleandromagno]

if bitcoin price is 10k $, we can use all day because this is become a true value, but as all value will be exchange fiat

[lethalethereal]

because it would be useless if bitcoin fiat money comes to 10k?

[tn211]

Fiat will always needed since bitcoins value is determined by usd/eur.
So how big bitcoin will go doesn't mean it will outcompete with fiat.

[Dux2K]

If it comes to it we wont see it for shure perhaos our grandchild will

[tolikkk]

not to think that by raising the prices and people immediately run and need to use bitcoin as a basis, but primarily, I think about addition in the habit when running to the last detail as the argument to the usual conditions and this is a very long wait, I take that walking along with fiat and inventing bitcoin for any additional functions as may be fit, because e is not constrained by some conditions, though, but in the medium term we see quite parallel for the familiar and the new

[samanas]

If it comes to it we wont see it for shure perhaos our grandchild will

Governments will keep on using fiat as they can inflate the debt away. So when they issue debt, it will be fiat debt.

[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.

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

Where supply comes from is irrelevant. It doesn't matter that those coins were seized. It only matters that they suddenly became part of the active supply. 

As for your example, if bitcoins weren't dumped, and only traded for goods/services, the active supply would be less and the price would be higher. That's still supply-side, not demand.

[ch4rts]

If fiat currency be worthless than btc price will be ∞ , not 10k.

[Amph]

If fiat currency be worthless than btc price will be ∞ , not 10k.

no, you don't need fiat to measure the value of bitcoin, it's just a convenience, that we are using it, you cna measure it by its purchasing power

like it was done in the past with barter, it would require some time in the beginning, but it's doable

[traderbit]

It is like having an old car and when its price increases, will fiat be worthless? Of course not, it gives only profit to those that hold bitcoin until $10k

[avw1982]

I highly doubt that fiat will be worthless once the price of Bitcoin becomes $10,000, assuming worthless means nobody would use it anymore. When BTC reaches $10k, there will still be people will still be using fiat to trade.

Every fiat money have their own value which is according to the market value of the country currency in international market and share market. If bitcoin rate reaches to 10000$ that will be good for all. We can’t say it will replace all fiat currencies from the world. May be bitcoin will act as a ruling currency of the world like USD in now.

[Betwrong]

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

Voted - NO. And I'm glad I'm not alone here thinking so.

First of, I do think the price of Bitcoin will be around $10k in ten years or so. But I don't think that fiat will be worthless if that happens. In many cases you can't bit fiat for its convenience.

[Timeline]

Why should fiat be worthless at $10,000   This would mean a Bitcon market cap of 210 billion $. This is the half of Google's value, a third of Apple's value, around the same as Coca Cola's value, one third of Amazon's value and only 4 times more than Uber's value. Just a short list. So, $200 bln market cap or $10,000 per Bitcoin is not really much.

Fiat would be worthless when Bitcoin is worth at least a million. This would mean that inflation is getting out of control.

I agree with this. 10k per BTC is way too little to have an impact. Even at 1 million per BTC I think there would still be fiat currencies.

[sesiah]

More useful instead, because those with bit coins exchange them for fiat

[okae]

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

maybe, if this happen some people will start to tremble because of that

If fiat currency be worthless than btc price will be ∞ , not 10k.

no, you don't need fiat to measure the value of bitcoin, it's just a convenience, that we are using it, you cna measure it by its purchasing power

like it was done in the past with barter, it would require some time in the beginning, but it's doable

i start to think that "the time" needed for it could be more shorter than expected, things are going faster than i was thinking that it will be, so yes is more than doable...

[MyBTT]

First of all, I doubt that the price of Bitcoin will ever even reach $10,000. I think that fiat will always be around though. People just love it too much to ever let it go. Using fiat is very convenient for the plebs of the world. Real men and women using Bitcoin. BTW, I am joking.

[n2004al]

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

No. First of all because the value of fiat money don't depend from the value of bitcoin but from the other factors which have nothing to do with bitcoin.

Second because every fiat currency have an owner, mean "something" or "someone" which take care about that. This owner is every State of every country which has "order" the put of every currency in circulation and has given their the value these have. Everything made through an Authority with strong independence (mean very hard to interfere on its aim - take care and manage the currency of that country).

Third because bitcoin cannot replace (at least as it is) never the fiat currency in everything. So even if the world will prefer to use bitcoin and this will make worthless the fiat currency, cannot do this because bitcoin cannot be used out of the internet. Here exist an option that can be chooses and can realize the use of bitcoin even out of internet - and are credit and debit cards - but this option remain to be verified. There are already such options in the market but not very attractive and not with much spread. Anyhow potentially this choice can be used.

Fourth. Not only that value given above for bitcoin but even a new one ten time more of that, have nothing to do with the making worthless the fiat currency, is even the fact that the amount of bitcoin in circulation is not and will be not able to cover all the continuously in increase needs of the world for money (accepting that the being worthless of all currencies will made them only paper for toilet). Bitcoin is limited and even if goes down with its use (so are used milisatoshi, minisatoshi or even simple satoshi) yet are not enough to the needs. To not forget that every year the increase of economies need new money in circulation. And this increase will always be much more than the capacity of bitcoin to fulfill that.

The last one is that no one country may allow that such thing happen. They cannot leave their currency to become worthless and have as currency one such which, at least, is not owned by those and as such cannot be used to realize their monetary policies as these want. Not only this but and not owned currency put in risk even the stability of the country which use one such. Everyone can use it to destabilize the economy of that country.

[Newcoins2020]

From a bigger perspective, the 10k is not that different from 1k when it comes to the price of BTC. It was near 1k for quite some time, and fiat was never close to being "worthless". Better question would be what will it take for btc to get to 10k per coin in the first place. Because right now, its really hard to imagine it happening any time soon (even with years and years to come)

I think it starts with less coins with the whales. They are using this coin for personal gain.
Not for supporting the bitcoin revolution.