Bettwarm
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Activity: 80
Merit: 10
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February 16, 2016, 09:03:34 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.
At that time, bitcoin is the main currency. Other digital currencies will build on it to work with it. |
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Even in the event that an attacker gains more than 50% of the network's
computational power, only transactions sent by the attacker could be
reversed or double-spent. The network would not be destroyed.
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ctlaltdefeat
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February 16, 2016, 04:23:15 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?
no,i dont think so,and i never heard someone mention this. fiat is always worth,people need it,bussines and any corporation need fiat always. |
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Mr.grin
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Activity: 1218
Merit: 1000
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February 16, 2016, 05:07:46 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?
no,i dont think so,and i never heard someone mention this. fiat is always worth,people need it,bussines and any corporation need fiat always. This time I think it would be meaningless, think, if the price of bitcoin has reached the $ 10k it will not only make bitcoin increasingly difficult to obtain, besides the play bitcoin surely only rich people only |
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aardvark15
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February 16, 2016, 06:03:13 PM |
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I think fiat will be around for a long time. Countries will be slow to change. We may have cryptos and fiat together for a long time.
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popovicbit
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February 16, 2016, 07:20:06 PM |
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It depends on when it reaches 10k. If btc reached 10k within the next 2 years, then no, I don't think fiat will be worthless. I just spoke to a lady today who owns 15 condo units and does not have an email address. I couldn't believe my ears, but there are lots of people out there that will take a long time to cross over.
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jod_doj
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February 16, 2016, 08:19:14 PM |
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no, it will not be worthless at all, it wont disappear and people will still use it so its impossible for it to disappear
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darkangel11
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Defend Bitcoin and its PoW: bitcoincleanup.com
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February 16, 2016, 08:53:12 PM |
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For Bitcoin to be worth $10.000 we'd just need one big country to formally accept it as its currency. The rest of the world would remain with "worthless" fiat.
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Pitchblackroom
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February 16, 2016, 08:56:01 PM |
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Bitcoin right now is really still only a very small picture in the whole grand scheme of things with the world economy. Fiat money will still be the major contender for how transactions are processed whether it be paperless or paper currency.
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Anddos
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February 16, 2016, 09:06:18 PM |
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Bitcoin right now is really still only a very small picture in the whole grand scheme of things with the world economy. Fiat money will still be the major contender for how transactions are processed whether it be paperless or paper currency.
Paperless or not. Fiat has its place, and I don't think it will be ever replaced completely. How many generations should pass so as to become used to only use bitcoin? |
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diodio5
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February 16, 2016, 11:28:02 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
I would assume that. paper money may have been unused. and I can not imagine any other currency, if the price of bitcoin is worth $ 10k. what the world was in chaos or usa into crisis ? |
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Dux2K
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Blocklancer - Freelance on the Blockchain
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February 17, 2016, 05:16:50 AM |
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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
I would assume that. paper money may have been unused. and I can not imagine any other currency, if the price of bitcoin is worth $ 10k. what the world was in chaos or usa into crisis ? I cant image it to think that we need paper money cuz we all have it spend it use it Btc may be good for replacing it but we will still use paper money |
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ajun96
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February 17, 2016, 01:30:43 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
I think when bitcoin has a very high price as it was $ 10,000. maybe papermoney have been very rare. all using digital. everyone connected to the internet, and maybe the dollar is not useful |
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Betwrong
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I stand with Ukraine.
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February 18, 2016, 07:54:23 AM |
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I think that paper money or metal money will be always more convenient to use in some cases so they will never become worthless. But of course with the development of new technologies around the world Bitcoin will gain more popularity and fiat will be less and less valuable with time.
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chaser15
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Undeads.com - P2E Runner Game
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February 18, 2016, 09:08:00 AM |
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If bitcoin price is $10.000, will fiat be worthless?
Then how is it possible to become useful if you can't convert in fiat? There are no direct stores much that accepts bitcoin and even there is what if you are in a place where no internet connection?
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Cyaren
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February 18, 2016, 09:08:59 AM |
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No, not really. But if it's some really ridiculous number like $1 trillion, then yes.
Based on the current exchange rates when BTC hits 10,000 fiat would be around 20x more inflated than right now.
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srinikethan
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February 19, 2016, 02:53:34 PM |
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yes of course it will be worthless...as i btc can earn many more if you use it in the right way!!
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agustina2
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February 19, 2016, 03:41:43 PM |
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yes of course it will be worthless...as i btc can earn many more if you use it in the right way!!
So where do you exchange now bitcoin if fiat is worthless? That will be 1:1 ratio of bitcoin price because it has no exchange currency. You can't make profit with bitcoin alone as a currency in the world. |
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Hanacerty
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February 19, 2016, 06:05:21 PM |
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When Bitcoin is $10,000, the market cap of bitcoin is just $210 billion. It cannot represent all the fiat, so the fiat will exist.
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plost24
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February 19, 2016, 06:08:36 PM |
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i think that if bitcoin price will be 10.000 every buddy will work day and night to collect bitcoin and forget about fiat :p so it will be worthless :p
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For rent 1.4 Bitcoin for 11 months starting Feb 1 2017
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Amph
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February 19, 2016, 06:10:25 PM |
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i think that if bitcoin price will be 10.000 every buddy will work day and night to collect bitcoin and forget about fiat :p so it will be worthless :p
no, because if the price was 10k, then one should assume that to have one bitcoin will be 25x harder than now, so you would end up with the same value as now, which means much less coins |
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