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Drekavac
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February 05, 2016, 05:40:19 PM |
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Don't forget who stands behind dollar! i can imagine banks without fiat but probably this is going to be their premined coin! , not BTC sorry  |
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Nameless Coin
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February 05, 2016, 07:24:46 PM |
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Don't forget who stands behind dollar! i can imagine banks without fiat but probably this is going to be their premined coin! , not BTC sorry Banks will never let it happen. Nor will the governements. For them bitcoin is uncontrollable and they won't let it take the lead. |
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BTCBinary
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February 05, 2016, 07:37:17 PM |
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I do not think that Fiat will become worthless if bitcoin hits such a price. Fiat will still be here for a lot longer than we think.
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Anddos
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February 05, 2016, 07:50:12 PM |
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Fiat won't become worthless even if bitcoin will be ever more than 10.000$. It can't be. The physical world needs a physical currency. It would take a few more generations for people to become accustomed to digital money only.
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richardsNY
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February 05, 2016, 07:53:13 PM |
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I do not think that Fiat will become worthless if bitcoin hits such a price. Fiat will still be here for a lot longer than we think.
Fiat will always exist as main currency in the world. Bitcoin can't change anything about it. Bitcoin is just an alternative currency. We have to accept this. |
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craked5
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February 05, 2016, 08:21:57 PM |
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It can be.
Btc could reach this amount in two ways:
-incredible adoption right now, with a scaling btc. Btc wouldn't be produced on a sufficient amount so a crazy inflation could make the price skyrocket so hard. In this case fiat isn't worthless, it's just that btc is incredibly hype and expansive.
-If btc is used as a way to store value (as it was intended to) then imagine if USA debt HAS to be repaid. They could just print as much dollars as they want and the incredible deflation resulting could mean that dollars worth nothing. Hence btc worth lots. but it wouldn't be very profitable cause it would just mean that btc is stable and $ is shitty.
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romero121
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February 05, 2016, 08:41:59 PM |
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If such situation happens. Bitcoin will also loss its worth. Once bitcoin reaches 10000$ at instances it will also be used as a fiat.
This will make a negative impact. If the price increase happens due to mass adaption there will be no issues, but
when mass adaption takes place automatically the value gets reduced.
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DrLove2048
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February 05, 2016, 09:49:09 PM |
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Fiat will never really be worthless, the government is always going to want a currency it can be in control of. Maybe the traditional paper currency will become obsolete, but not worthless
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greBit
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February 05, 2016, 10:30:23 PM |
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No defiantly not. Even then bitcoins user base will be 1000's times smaller then fiat
Yes Bitcoin cannot replace fiat currency because there are more illiterate people in the world than literate one and people are not ready to accept the change and hence Bitcoin will be like a key tool for more money for smart people. |
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justspare
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February 06, 2016, 12:40:13 AM |
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When the price becomes that, then we will talk about it. The price is very low to even talk about $10,000.
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blackmachinegun
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February 06, 2016, 01:23:54 AM |
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I guess when the price of bitcoin 10k $, it will make bitcoin increasingly well known, and I think when it bitcoin already can be used in the form offline, and only businessmen and rich people who could have, and I think it's become something worthless to the lower ranks
the problem is not that it is definitely bitcoin will be very popular at that time and everyone knows about bitcoin, but if bitcoin worth that high, how the state of the dollar, and America itself? What can you imagine it going? |
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Pab
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February 06, 2016, 01:29:07 AM |
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What you mean fiat,national currencys have to stay,cash has to stay Do you want Bitcoin one currency world,how do you imagine that,
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Anddos
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February 06, 2016, 09:42:20 AM |
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What you mean fiat,national currencys have to stay,cash has to stay Do you want Bitcoin one currency world,how do you imagine that,
The world already is moving towards a global generalization. In Europe, for example you can slowly see all the countries moving towards a single currency - the euro. And it works. Maybe bitcoin will become the only digital currency. It'll be much easier. |
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JosNekoKopa
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February 06, 2016, 11:31:46 AM |
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Bitcoin is very far from point where he could harm fiat.
If you want to buy bitcoin you need fiat..
Bitcoin is just speculation in small scale of fiat and its uses are only for getting more fiats..
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samanas
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February 06, 2016, 03:33:27 PM |
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What you mean fiat,national currencys have to stay,cash has to stay Do you want Bitcoin one currency world,how do you imagine that,
Cash might not stay in the future. Sweden is going to be the first cashless society in the future. |
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2legit2
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February 06, 2016, 04:18:23 PM |
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i dont think so that it could be worthless then as people still will be interested in using paper money that we have now
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kacak41
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February 06, 2016, 08:05:38 PM |
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i dont think so that it could be worthless then as people still will be interested in using paper money that we have now
Fiat can never be worthless even if the value of bitcoin reaches to the moon, and the reason behind is that there are many places across the globe that don't accept bitcoin as a mode of payment and we have to use fiat to take care of it. |
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simon66
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February 06, 2016, 08:22:21 PM |
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Fiat can never be worthless even if the value of bitcoin reaches to the moon
Fiat very definitely CAN be worthless exactly as the vast majority of fiat currencies created are now worthless. EVERY fiat currency ever used has eventually become worthless since the dawn of time except those currently in circulation for now. If the fiat currencies currently in use DON'T eventually become worthless then they will be the first ever in history. I believe that in time ALL fiat currencies will become worthless just as all before them and new fiats will come in and have percieved value for a time before they too become worthless just like all the rest have. If 1 BTC = $1,000,000,000,000,000 then the $ is still not completely worthless because it is still worth 1/1,000,000,000,000,000 of a bitcoin and therefore is worth something. When 1 BTC = an infinite amount of $$ that is when $$ are truly worthless because then even 1 satoshi is worth more than all of the $$ in the world. In this case it still doesn't mean that BTC has gone up as X amount of BTC is still worth X loves of bread, same value, but now an infinite amount of $$, or all the $$ in the world are not worth a loaf of bread. Look up the currency museum (I forget which).. But the point is that ever since humans have moved from real money, such as gold (still valuable), to fiat currencies, ALL, thousands of fiat currencies in history have ALL become absolutely worthless with no exceptions other than collector value. |
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iamthesky
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February 06, 2016, 09:20:37 PM |
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Yeah, it can be worthless in the coming future, if bitcoin gets on the mainstream and becomes a global currency, then there are possibilities that people would get rid of fiat and would start using bitcoin as a primary currency.
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Fidemoga
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February 15, 2016, 10:40:18 AM |
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Yeah, it can be worthless in the coming future, if bitcoin gets on the mainstream and becomes a global currency, then there are possibilities that people would get rid of fiat and would start using bitcoin as a primary currency.
If the digital currency becomes really popular and accepted everywhere, I think the paper money will not be useful any more. |
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