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

[serjent05]

Yeah and even if bitcoin touches that price people will still prefer to sell them and convert to fiat so I don't think that fiat is going anywhere and the first choice of people will always be fiat.

Yes and if ever bitcoin will reached that price, it will just make fiat much worth. Since people care for the bitcoin price, they are happy for that kind of achievement of bitcoin and eventually they will sold their coins to take profit.

What is the sense of having a high price value for bitcoin if fiat will be worthless.

I agree, and if in that time that bitcoin is worth 10,000 usd and bitcoin adoption stay in what it is right now, then i really think if fiat is worthless, then bitcoin will be worthless too.  Since you need to convert your bitcoin to fiat in  order to buy things that is needed in our daily lives and other stuff that is used for luxury purpose.

[deisik]

Yeah and even if bitcoin touches that price people will still prefer to sell them and convert to fiat so I don't think that fiat is going anywhere and the first choice of people will always be fiat.

Yes and if ever bitcoin will reached that price, it will just make fiat much worth. Since people care for the bitcoin price, they are happy for that kind of achievement of bitcoin and eventually they will sold their coins to take profit.

What is the sense of having a high price value for bitcoin if fiat will be worthless.

I agree, and if in that time that bitcoin is worth 10,000 usd and bitcoin adoption stay in what it is right now, then i really think if fiat is worthless, then bitcoin will be worthless too.  Since you need to convert your bitcoin to fiat in  order to buy things that is needed in our daily lives and other stuff that is used for luxury purpose.

If all other things remain the same (except fiat inflation expanding like a supernova), you will buy with your bitcoins the same amount of daily things as you do today. It is the price measured in dollars that will change (grow) proportionally. In real life, though, the dramatic devaluation of fiat will almost certainly lead to an increase in the purchasing power of Bitcoin, i.e. you will be able to buy more than today with the same amount of bitcoins...

Since people will run into safe havens from fiat, and Bitcoin may well be one such haven

[coin_gambler]

Well if flat will be worthless then no one will exchange Bitcoin to flat anymore because flat is worthless already. But what i think is flat will never become worthless even Bitcoin price in the future will become really big. Because $ is our standard money wherein everyone knows how to use it.

i think fiat is still worthless because as long as bitcoin is not have legality from government, i think its hard to make bitcoin reach that amount, maybe it can, but people still trust on fiat as their currency. beside that, large people still using fiat, and only of us which using bitcoin as investment, trading, and gambling.

thats true, fiat is always worthless because of that endless printing of the money that is happening in the usa

[saiha]

Well if flat will be worthless then no one will exchange Bitcoin to flat anymore because flat is worthless already. But what i think is flat will never become worthless even Bitcoin price in the future will become really big. Because $ is our standard money wherein everyone knows how to use it.

i think fiat is still worthless because as long as bitcoin is not have legality from government, i think its hard to make bitcoin reach that amount, maybe it can, but people still trust on fiat as their currency. beside that, large people still using fiat, and only of us which using bitcoin as investment, trading, and gambling.

thats true, fiat is always worthless because of that endless printing of the money that is happening in the usa

Whatever going to be the value of bitcoin for sure fiat will remain unless the government is going to implement the total use of bitcoin.

And they are going to reject and totally forget the use of fiat then that is going to say the prediction of fiat money to become worthless.

The government is still the one who is going to decide.

[STT]

the dramatic devaluation of fiat will almost certainly lead to an increase in the purchasing power of Bitcoin, i.e. you will be able to buy more than today with the same amount of bitcoins...

Since people will run into safe havens from fiat, and Bitcoin may well be one such haven

That doesnt follow automatically.  If they print dollars into worthless paper then bitcoin does not buy more goods, it buys more dollars because each dollar is worth less.    We can hope more people use bitcoin at that point but it could even be that bitcoin is used less, after all there is lots of different cryptographic coins not just this one.   All you need is some Elon Musk kind of genius to possibly wipe out alot of progress bitcoin got by copying its good points and overcoming any limitations it has.
 Maybe not that easy because its the wider network not one guy but I think its possible the fall of dollar does not accelerate bitcoin to greater purchasing power, it might just stay the same

[goldcoinminer]

Well if flat will be worthless then no one will exchange Bitcoin to flat anymore because flat is worthless already. But what i think is flat will never become worthless even Bitcoin price in the future will become really big. Because $ is our standard money wherein everyone knows how to use it.

i think fiat is still worthless because as long as bitcoin is not have legality from government, i think its hard to make bitcoin reach that amount, maybe it can, but people still trust on fiat as their currency. beside that, large people still using fiat, and only of us which using bitcoin as investment, trading, and gambling.

thats true, fiat is always worthless because of that endless printing of the money that is happening in the usa

You can never say that, I would only believe that fiat is worthless if you are not using it now, whatever we say fiat will always remain and even how successful bitcoin will be, they cannot beat nor replace fiat under any circumstances, mark my word.

[Legasean]

Lol if the price of the bitcoin rises up to that much off course wont the fiat be usefull becuase the fiat has an other value than the bitcoin and that will always be so dont worry.

[Cozynunu]

I dont think price of the bitcoin dropped to that high but i think that the fiat wont be worthless because fiat is used for other things and i know that fiat is not much worth off course.

[deisik]

the dramatic devaluation of fiat will almost certainly lead to an increase in the purchasing power of Bitcoin, i.e. you will be able to buy more than today with the same amount of bitcoins...

Since people will run into safe havens from fiat, and Bitcoin may well be one such haven

That doesnt follow automatically.  If they print dollars into worthless paper then bitcoin does not buy more goods, it buys more dollars because each dollar is worth less.    We can hope more people use bitcoin at that point but it could even be that bitcoin is used less, after all there is lots of different cryptographic coins not just this one.   All you need is some Elon Musk kind of genius to possibly wipe out alot of progress bitcoin got by copying its good points and overcoming any limitations it has.
 Maybe not that easy because its the wider network not one guy but I think its possible the fall of dollar does not accelerate bitcoin to greater purchasing power, it might just stay the same

Why did you exclude the first part of my post where I specifically mentioned about all other things remaining the same? Further, if you have been reading my post carefully (which you obviously haven't), you would have noticed I said that Bitcoin may be one of such safe havens. So what part of my post are you challenging exactly? People always get rid of collapsing currencies and spend money as soon as they are paid with it buying all sorts of things in an effort to preserve value. And if they can, they will buy foreign currency which is most stable. That may be Bitcoin, and it may as well lead to a more expensive Bitcoin than it is now in absolute terms (i.e. in the purchasing power terms) due to a significantly higher demand for it (emphasis added)...

Have you ever felt the impact of hyperinflation with your own skin?

[ObscureBean]

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

1 BTC = $10,000 means that Bitcoin worth is being measured in dollars, how could fiat possibly be worthless? If fiat is worthless then Bitcoin is worthless. Perhaps you mean "redundant" instead of "worthless", that would make more sense. No, I don't think fiat would become redundant even if Bitcoin reaches beyond $10,000. In its current form, Bitcoin simply cannot be used as a replacement for fiat.

[deisik]

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

1 BTC = $10,000 means that Bitcoin worth is being measured in dollars, how could fiat possibly be worthless? If fiat is worthless then Bitcoin is worthless . Perhaps you mean "redundant" instead of "worthless", that would make more sense. No, I don't think fiat would become redundant even if Bitcoin reaches beyond $10,000. In its current form, Bitcoin simply cannot be used as a replacement for fiat.

Redundant looks more like a euphemism for worthless rather than a notion which has its own separate meaning. I'm still curious, why people keep repeating the same bullshit again and again? If some fiat money becomes worthless (for example, the US dollar), it simply gets "delisted", and Bitcoin is now measured in some other currency (for example, euros or yuans). If all fiats become worthless or "redundant" (a purely hypothetical situation), then Bitcoin becomes the money...

Isn't that what the majority of us are looking for?

[sishendaoye]

If bitcoin price reaches that high that means something must have happened to fiat already to trigger an event which makes bitcoin even that high.
I think bitcoin would only get that high if it would be used as a main currency globally.

[mirakal]

If bitcoin price reaches that high that means something must have happened to fiat already to trigger an event which makes bitcoin even that high.
I think bitcoin would only get that high if it would be used as a main currency globally.

I agree, and it cannot be the mainstream currency when it will not be legalized, maybe before I will hear a news that bitcoin will be legalize that would only be the time that I would say that it will replace fiat which makes it worthless, but for now, I do not think so.

[AsaroUk]

i dont think so that if the price of bitcoin rise to 10000USD the fiat currency will be worthless. i think in near future it is not possible that the price of bitcoin will reach to 10000 it will take years i think to reach to this level. even then it is not possible that tie fiat will be worthless.

It depends on why bitcoin got such a high value. If it's from investors investing tons and tons into bitcoin then I think fiat won't be worthless but just worth less if you catch my drift.
Bankers won't allow this anyways unless they can claim a monopoly on bitcoin.

[InsideBjorn]

No fiat will never be worthless atleast not the bigger ones like euro and dollar cause those are too big.
The famillies who run the world banks are involved in some stuff that probably nobody knows and then have alot of power for sure which we can't overrule

[buxlover]

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 fiat will never become worthless, your question itself proves that fiat can never be avoided by comparing btc to usd. so we always need some fiat to compare or convert.

Maybe in far future someday there would be question like if $1 is equal to 1 btc  can fiat become more common currency used. but i would say that would never happen.

[sobsitesearch]

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 fiat will never become worthless, your question itself proves that fiat can never be avoided by comparing btc to usd. so we always need some fiat to compare or convert.

Maybe in far future someday there would be question like if $1 is equal to 1 btc  can fiat become more common currency used. but i would say that would never happen.

Correct that fiat is still remain as fiat in the future even the bitcoin has a huge value, more users are not able to spend bitcoin in their country instead they need to exchange it first to fiat before to spend and how fiat will be worthless?

[Malsetid]

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 fiat will never become worthless, your question itself proves that fiat can never be avoided by comparing btc to usd. so we always need some fiat to compare or convert.

Maybe in far future someday there would be question like if $1 is equal to 1 btc  can fiat become more common currency used. but i would say that would never happen.

Correct that fiat is still remain as fiat in the future even the bitcoin has a huge value, more users are not able to spend bitcoin in their country instead they need to exchange it first to fiat before to spend and how fiat will be worthless?

That is right. The only difference is that more people will use the bitcoin instead of the fiat. The bitcoin price will rise.

[agustina2]

That is right. The only difference is that more people will use the bitcoin instead of the fiat. The bitcoin price will rise.

I think not. With the bitcoin price valued at $10,000, there will be more people that will exchange their bitcoin to fiat.

It's just with the price between btc to usd but products, things, good etc. in real life has the same retail price when deals with USD so it's interesting to convert bitcoin to USD once the price reached that level.

[saiha]

That is right. The only difference is that more people will use the bitcoin instead of the fiat. The bitcoin price will rise.

I think not. With the bitcoin price valued at $10,000, there will be more people that will exchange their bitcoin to fiat.

It's just with the price between btc to usd but products, things, good etc. in real life has the same retail price when deals with USD so it's interesting to convert bitcoin to USD once the price reached that level.

That is going to make fiat more worthy rather than making it worthless. Because if that happens I will going to exchange it to fiat fast.

And whatever is going to be the value of bitcoin fiat will always be there and going to be important because it is necessity.

People are going to keep trusting fiat rather than bitcoin.