Epicnicity
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Merit: 10
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February 19, 2016, 06:56:22 PM |
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No, assuming that the adaption of bitcoin will be the same as it is today, you're still going to need fiat to buy day to day stuff.
Therefore you will always be in need of fiat and need to exchange in this situation.
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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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plost24
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February 19, 2016, 07:13:37 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 yes maybe that will be harder but like now the price is 417 and there is so many collecting and the price was 1 $ back then it is the same situation and with thaat price bitcoin will be more populaire and so many will want to have it  |
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treeguard
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February 19, 2016, 09:10:57 PM |
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i dont think that fiat ever will be worthless as the money system we have now is deeply rooted and will be hard to change
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Anddos
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February 19, 2016, 09:31:19 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 yes maybe that will be harder but like now the price is 417 and there is so many collecting and the price was 1 $ back then it is the same situation and with thaat price bitcoin will be more populaire and so many will want to have it So what is bitcoin will be 10.000$? You'll work harder, longer for 1 BTC. And there will be more zeros when doing transactions. Same thing. |
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Indianacoin
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February 19, 2016, 10:34:14 PM |
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Think the other way round.
Fiat will not be worthless but bitcoin would be.
Since fiat is backed up by governments it will remain stable no matter where the price of bitcoin goes.
But I dont think bitcoin will reach $10 in first place. At least not in next 5 years from now.
So I voted for no.
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elizabethqueen
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February 20, 2016, 10:16:00 AM |
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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?
of course i'm not agree with this statement,too early if you think bitcoin will replace fiat because it price,its not gonna happen for several years again,the only way to replace fiat is fiat own self. |
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Pattart
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February 20, 2016, 10:35:52 AM |
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i dont think that fiat ever will be worthless as the money system we have now is deeply rooted and will be hard to change
yeah if bitcoin was worth it, of course fiat will not be used, everyone will wear the currency with the highest value. |
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jaysabi
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Merit: 1115
★777Coin.com★ Fun BTC Casino!
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February 22, 2016, 02:38:36 AM |
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Think the other way round.
Fiat will not be worthless but bitcoin would be.
Since fiat is backed up by governments it will remain stable no matter where the price of bitcoin goes.
But I dont think bitcoin will reach $10 in first place. At least not in next 5 years from now.
So I voted for no.
Being backed by a government doesn't mean anything. There have been plenty of fiat currencies that have been backed by a government and become worthless: Germany after WWI, Zimbabwe in the 1990s, and Venezuela right now is suffering over 100% inflation rates. Those are just a very small sample too. Being backed by a government doesn't make it a sound currency. |
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axxo
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February 22, 2016, 08:08:33 AM |
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i dont think that fiat ever will be worthless as the money system we have now is deeply rooted and will be hard to change
yeah if bitcoin was worth it, of course fiat will not be used, everyone will wear the currency with the highest value. But ordinary people won't be able to use bitcoin at such price. |
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unixs_26
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Merit: 0
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February 22, 2016, 08:35:34 AM |
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i dont think fiat money be worthless
we still need exchange bitcoin to fiat money buy daily stuff
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Shinpako09
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Merit: 1015
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February 22, 2016, 09:31:36 AM |
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Of course not, if it will be useless so where will you base the value of bitcoin now. No matter what the price is you still need fiat.
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y8tvkid
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February 25, 2016, 06:16:54 PM |
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Of course not, if it will be useless so where will you base the value of bitcoin now. No matter what the price is you still need fiat.
Yeah, fiat will always be a part of our life and society as we find more users of fiat in compare to fiat, and there are many people who really don't care about bitcoins, they would engage themselves in using fiat. |
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thejaytiesto
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Merit: 1014
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February 25, 2016, 06:47:18 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. You can make Bitcoin working, if the world was advanced enough taht is whre we should aim at at the future, so you work for Bitcoin, and you don't need fiat in the equation anymore, so the exchanges would be just to speculate, not a necessity to own Bitcoin like it is now (unless you are one of the rare persons that make a salary on Bitcoin already). |
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Anddos
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February 25, 2016, 10:40:00 PM |
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Bitcoin will not be reaching $10.000 anytime soon, so don't worry about it.
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pneumatic5
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February 25, 2016, 11:07:24 PM |
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Bitcoin will not be reaching $10.000 anytime soon, so don't worry about it.
Yeah and even if it reaches that level, fiat would be still more popular as majority of the people have more faith in fiat and they would continue to use irrespective of the value of bitcoins. |
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MTBTT
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February 25, 2016, 11:25:47 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!!
i think fiat will be not worthless. The price is too high for the currency |
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fruitcommander
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February 25, 2016, 11:43:59 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!!
i think fiat will be not worthless. The price is too high for the currency Fiat will always rule the world even if the price of bitcoin reaches the moon fiat will continue to show its power as the users of fiat are more and it will keep on increasing in near future too. |
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Mitchow
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February 26, 2016, 12:38:25 AM |
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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!!
i think fiat will be not worthless. The price is too high for the currency Fiat will always rule the world even if the price of bitcoin reaches the moon fiat will continue to show its power as the users of fiat are more and it will keep on increasing in near future too. I Agree with you and what you said is true that the users of fiat are more in compare to moon and majority of them even don't care about the bitcoin and its value they would continue to use fiat as they are doing it since ages. |
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angryrob
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February 26, 2016, 01:10:25 AM |
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I don't see fiat going anywhere even if the value of btc reaches to 1 million people would still continue to use fiat, as there are many people who knows only to use fiat and no other currency.
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JAyThaRevo
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February 26, 2016, 02:05:36 AM |
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I don't see fiat going anywhere even if the value of btc reaches to 1 million people would still continue to use fiat, as there are many people who knows only to use fiat and no other currency.
Yes that is mostly the case with traditional people who believes in using traditional currency and for them accepting bitcoin as a currency is hard to believe. |
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