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tabas
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May 24, 2016, 09:34:27 AM |
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the bitcoin price will be hit $10.000 and the fiat still worthed
That's right, even it reaches $10,000 equivalent to 1 btc. Fiat will still be worth it and very useful. |
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aleandromagno
Legendary
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Activity: 1323
Merit: 1000
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May 24, 2016, 09:40:58 AM |
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Nope. Doesn't matter how much BTC you own, in the end you'll need fiat when you need something.
I agree, though we have a lot of bitcoins in the future we still need to convert it into fiat to spend our money as not everyone is accepting bitcoins. Actually, it is even better to have a lot of payment processor so we can choose where we are comfortable in using it, don't expect that all the people will adopt bitcoins even if we go full digital as there are other coins that has potential now that might also succeed in the future. As long as these things will help improve our community then its better. Guys, what are you talking about?!  20 years ago there was just few places where you can pay with debit/credit card - like now it is with Bitcoin. In next 20 years you will pay with Bitcoin everywhere! But price of Bitcoin have nothing to do with fiat price. With time fiat price can be even higher - because of collectible value..  |
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jamesl22
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May 24, 2016, 09:49:48 AM |
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the bitcoin price will be hit $10.000 and the fiat still worthed
That's right, even it reaches $10,000 equivalent to 1 btc. Fiat will still be worth it and very useful. Yeah fiat will be used everywhere even if the price of bitcoin reaches to $10k as the users of fiat are more and bitcoin to reach $10k price will take a enough time. |
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Ziskinberg
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May 27, 2016, 02:32:56 AM |
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the bitcoin price will be hit $10.000 and the fiat still worthed
That's right, even it reaches $10,000 equivalent to 1 btc. Fiat will still be worth it and very useful. Yeah fiat will be used everywhere even if the price of bitcoin reaches to $10k as the users of fiat are more and bitcoin to reach $10k price will take a enough time. Its true, fiat will never be worthless in my own opinion, bitcoin and fiat are both good in transactions so we need to keep both for us to have a variety of choice when doing transactions. |
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coinstatic
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May 27, 2016, 04:59:36 AM |
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Fiat can never be worthless regardless how much 1 bitcoin is worth
In the end we all want to make lots of $$$$ from our bitcoins and altcoins so we can spend our fiat on a daily basis which crypto can't buy
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Doms
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May 27, 2016, 05:37:52 AM |
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Fiat will never be worthless. It is what the world uses, has used, and will use for the foreseeable future. Even if bitcoin's price reaches stratospheric heights, fiat will always be around. I see bitcoin more of an investment rather than something that could take the place of fiat. I love the technology behind bitcoin and blockchain, the same as I love fiat.
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Oscoda
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May 27, 2016, 02:24:10 PM |
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The chance is really low that it can reach that high value and you have to look at the value now and you see that it was stable for a long time so it needs a longer time to get a higher value.
So if that will happen than it will happen after some 10 years I think and not everyone have the patience for it.
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JessicaSe
Legendary
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Activity: 840
Merit: 1000
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May 27, 2016, 02:38:13 PM |
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The chance is really low that it can reach that high value and you have to look at the value now and you see that it was stable for a long time so it needs a longer time to get a higher value.
So if that will happen than it will happen after some 10 years I think and not everyone have the patience for it.
10k usd is not a small amount and nor it can be achieved so easily, bitcoin surely has that potential to achieve it but no one knows when that time will come. |
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goldcoinminer
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May 28, 2016, 12:42:58 AM |
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The chance is really low that it can reach that high value and you have to look at the value now and you see that it was stable for a long time so it needs a longer time to get a higher value.
So if that will happen than it will happen after some 10 years I think and not everyone have the patience for it.
10k usd is not a small amount and nor it can be achieved so easily, bitcoin surely has that potential to achieve it but no one knows when that time will come. There is a possibility that it will happen because bitcoin is a revolution, with people going full digital in the future that will happen, fiat will only be use to limited transactions because mostly bitcoins are use. |
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hendra147
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May 28, 2016, 12:58:56 AM |
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The chance is really low that it can reach that high value and you have to look at the value now and you see that it was stable for a long time so it needs a longer time to get a higher value.
So if that will happen than it will happen after some 10 years I think and not everyone have the patience for it.
10k usd is not a small amount and nor it can be achieved so easily, bitcoin surely has that potential to achieve it but no one knows when that time will come. There is a possibility that it will happen because bitcoin is a revolution, with people going full digital in the future that will happen, fiat will only be use to limited transactions because mostly bitcoins are use. to use bitcoin we must always be connected to the internet, while not everyone uses the Internet, so the user fiat will not be limited transactions. but bitcoin will only be used by people who understand the technology and are very active in online |
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Hanacerty
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May 29, 2016, 07:30:38 AM |
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When the bitcoin price is 10,000 dollars, the market cap is still just 170 billion dollars, small portion of the whole wealth.
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zimmah
Legendary
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Activity: 1106
Merit: 1005
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May 29, 2016, 07:44:02 AM |
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When the bitcoin price is 10,000 dollars, the market cap is still just 170 billion dollars, small portion of the whole wealth.
this. for fiat to be worthless, bitcoin needs to be closer to $1,000,000 |
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deisik
Legendary
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Activity: 3444
Merit: 1280
English ⬄ Russian Translation Services
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May 29, 2016, 07:48:21 AM |
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When the bitcoin price is 10,000 dollars, the market cap is still just 170 billion dollars, small portion of the whole wealth.
It can even reach $100,000, that would still be 99.99% paper wealth. In fact, increase in price only leads to increase in illusory wealth |
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harizen
Legendary
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Activity: 3122
Merit: 1398
For support ➡️ help.bc.game
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May 29, 2016, 07:57:26 AM |
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Imagine now all people will hold BTC100 and the exchange will be BTC1 = $10,000
Now all now will convert. If you are into economics you can really sees that this will have a big effect to current fiat reserves.
Really a "serious" effect.
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deisik
Legendary
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Activity: 3444
Merit: 1280
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May 29, 2016, 08:19:48 AM
Last edit: May 29, 2016, 03:14:26 PM by deisik |
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Imagine now all people will hold BTC100 and the exchange will be BTC1 = $10,000
You obviously forget that all people simply can't hold 100 bitcoins since there are only 21 million bitcoins and over 7 billion people out there, which amounts to miserable 0.003 BTC per capita... Sometimes you'd better constrain your imagination, lol |
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vlight
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May 29, 2016, 12:51:51 PM |
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Fiat money will not be worthless because it is used to pay taxes and has gov support etc.
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torrentheaven
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May 29, 2016, 01:12:39 PM |
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Fiat money will not be worthless because it is used to pay taxes and has gov support etc.
Yeah fiat holds support from Government and they will never stop printing fiat in future, as when it comes to fiat the control is in the hands of Government. |
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hendra147
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May 29, 2016, 04:10:28 PM |
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Fiat money will not be worthless because it is used to pay taxes and has gov support etc.
Yeah fiat holds support from Government and they will never stop printing fiat in future, as when it comes to fiat the control is in the hands of Government. but it's one that makes fiat will remain useful, they are under the government and all the people using it. whereas only virtual currency bitcoin, so it will have no effect on fiat. but if bitcoin recognized government, fiat could just is worthless |
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Hugroll
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May 29, 2016, 04:28:02 PM |
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No, i dont agree. the value of one bitcoin doesnt devalue fiat. if bitcoin was worth a million dollars each. it would work the same way as today but the amount of coins traded in every transaction would be much much smaller. we would trade in satoshis instead of bits.
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wikenpp
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May 29, 2016, 05:31:40 PM |
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No, i dont agree. the value of one bitcoin doesnt devalue fiat. if bitcoin was worth a million dollars each. it would work the same way as today but the amount of coins traded in every transaction would be much much smaller. we would trade in satoshis instead of bits.
That's correct. Bitcoin is not in a position to replace fiat in any way. Fiat's role in the current financial system is too important and bitcoin nor are creditcards etc. able to repalce it. At best they can get a bigger chunk of the transactions where fiat is used. But replacing or making fiat worthless is a no brainer. |
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