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JumperX
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October 20, 2016, 04:31:22 PM |
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To be honest, when it happens, there will be no FIAT money anymore. The government currency system will totally collapse and there will be a revolution of Cryptocurrency which is leaded by Bitcoin users. There will be no tax in the world and it will be much better when there is only one currency in the world: Bitcoin
That will never happen fiat will always show its presence even in future and till the time Government will have their control on a country fiat will always exist as Government will never allow any digital currency to replace their national currency. Yes, fiat will not be rendered worthless as long as we have governments that collect taxes and print money at the very least. No government would allow bitcoin to become a full-scale replacement to their national currencies. To that end, some of them take a somewhat short-sighted approach and go as far putting a lid on its use within their jurisdictions. And even if bitcoin gains more popularity and gets on the mainstream even though there would be many people who will prefer to use fiat as they find it easy and convenient to use. |
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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Dannison
Newbie
 Offline
Activity: 27
Merit: 0
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October 20, 2016, 05:35:47 PM |
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To be honest, when it happens, there will be no FIAT money anymore. The government currency system will totally collapse and there will be a revolution of Cryptocurrency which is leaded by Bitcoin users. There will be no tax in the world and it will be much better when there is only one currency in the world: Bitcoin
That will never happen fiat will always show its presence even in future and till the time Government will have their control on a country fiat will always exist as Government will never allow any digital currency to replace their national currency. Yes, fiat will not be rendered worthless as long as we have governments that collect taxes and print money at the very least. No government would allow bitcoin to become a full-scale replacement to their national currencies. To that end, some of them take a somewhat short-sighted approach and go as far putting a lid on its use within their jurisdictions. And even if bitcoin gains more popularity and gets on the mainstream even though there would be many people who will prefer to use fiat as they find it easy and convenient to use. Fiat is easy to use as it has the form of cash. You do not need a computer or electrical device to send momeny. |
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serjent05
Legendary
Offline
Activity: 2842
Merit: 1253
Cashback 15%
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October 20, 2016, 05:52:03 PM |
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To be honest, when it happens, there will be no FIAT money anymore. The government currency system will totally collapse and there will be a revolution of Cryptocurrency which is leaded by Bitcoin users. There will be no tax in the world and it will be much better when there is only one currency in the world: Bitcoin
That will never happen fiat will always show its presence even in future and till the time Government will have their control on a country fiat will always exist as Government will never allow any digital currency to replace their national currency. Yes, fiat will not be rendered worthless as long as we have governments that collect taxes and print money at the very least. No government would allow bitcoin to become a full-scale replacement to their national currencies. To that end, some of them take a somewhat short-sighted approach and go as far putting a lid on its use within their jurisdictions. And even if bitcoin gains more popularity and gets on the mainstream even though there would be many people who will prefer to use fiat as they find it easy and convenient to use. Fiat is easy to use as it has the form of cash. You do not need a computer or electrical device to send momeny. I agree that fiat is easy to use. It is accepted everywhere so what else would you ask for? As for the need for computer or any gadget in sending money, i strongly disagree that you don't need them to send money. Banks process your withdrawal thru verifying stuff and that is hasten with the use of computer. You are able to use your credit card or visa card because of electronic devices. |
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tampazeus
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October 20, 2016, 05:55:46 PM |
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To be honest, when it happens, there will be no FIAT money anymore. The government currency system will totally collapse and there will be a revolution of Cryptocurrency which is leaded by Bitcoin users. There will be no tax in the world and it will be much better when there is only one currency in the world: Bitcoin
That will never happen fiat will always show its presence even in future and till the time Government will have their control on a country fiat will always exist as Government will never allow any digital currency to replace their national currency. Yes, fiat will not be rendered worthless as long as we have governments that collect taxes and print money at the very least. No government would allow bitcoin to become a full-scale replacement to their national currencies. To that end, some of them take a somewhat short-sighted approach and go as far putting a lid on its use within their jurisdictions. And even if bitcoin gains more popularity and gets on the mainstream even though there would be many people who will prefer to use fiat as they find it easy and convenient to use. Fiat is easy to use as it has the form of cash. You do not need a computer or electrical device to send momeny. I agree that fiat is easy to use. It is accepted everywhere so what else would you ask for? As for the need for computer or any gadget in sending money, i strongly disagree that you don't need them to send money. Banks process your withdrawal thru verifying stuff and that is hasten with the use of computer. You are able to use your credit card or visa card because of electronic devices. Credit card and fiat are the most common and trusted way to spend money and people who are not aware about bitcoins will surely prefer to use them for shopping. |
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pereira4
Legendary
Offline
Activity: 1610
Merit: 1183
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October 20, 2016, 06:03:02 PM |
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Fiat will not be worthless as long as you can exchange it for good and services. In order for fiat to fall we would need a gigantic event that would be studied thousands of years from now at a roman empire fall tier of happening. We are talking about the biggest fall of empires ever.
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bitdumper
Sr. Member
Offline
Activity: 266
Merit: 250
One world One currency, Bitcoin.
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October 20, 2016, 06:18:45 PM |
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i do not reallycare about faints the more i care in this price range is thatreaching 1 bitcoin will becime a dream on that price if we start with a big zero in our wallets and faints will be worth then also i am sure about that
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Bitcoinsummoner
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October 20, 2016, 06:31:39 PM |
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To be honest, when it happens, there will be no FIAT money anymore. The government currency system will totally collapse and there will be a revolution of Cryptocurrency which is leaded by Bitcoin users. There will be no tax in the world and it will be much better when there is only one currency in the world: Bitcoin
That will never happen fiat will always show its presence even in future and till the time Government will have their control on a country fiat will always exist as Government will never allow any digital currency to replace their national currency. Yes, fiat will not be rendered worthless as long as we have governments that collect taxes and print money at the very least. No government would allow bitcoin to become a full-scale replacement to their national currencies. To that end, some of them take a somewhat short-sighted approach and go as far putting a lid on its use within their jurisdictions. And even if bitcoin gains more popularity and gets on the mainstream even though there would be many people who will prefer to use fiat as they find it easy and convenient to use. Fiat is easy to use as it has the form of cash. You do not need a computer or electrical device to send momeny. Fiat is a real money bitcoin is just alternative currency that you can transact your money via online and needs some devices such as mobile and computers.. this crypto currency is just alternatives to send and receive money to increase the fast of sending money.. unlike fiat that it takes days before you can sent and receive money |
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hakanbalta577
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October 20, 2016, 06:33:25 PM |
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Fiat will not be worthless as long as you can exchange it for good and services. In order for fiat to fall we would need a gigantic event that would be studied thousands of years from now at a roman empire fall tier of happening. We are talking about the biggest fall of empires ever.
Yes increasing the value of bitcoin cannot make any changes what so ever on how fiat being used,becuase its not about the price,its about how many peoples accept in all over the world,and increase value of bitcoin to $10.000 or even more would not make it take place of the fiat currencies. |
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epitome
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October 20, 2016, 06:45:42 PM |
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good news is that bitcoin wont reach those values, so don't worry about fiat becoming worthless,fiat is an integral part of trade and you cant replace it with a virtual currency.
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Jerrietg
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October 21, 2016, 02:55:39 AM |
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In the beginning bitcoin's price only a few cents guy , so i think it won't be fiat worthless
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hendra147
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October 21, 2016, 03:10:30 AM |
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of course, maybe the price of a dry bread arround $100 per Pcs  in this case bitcoin will be have same value like this momenth. |
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eddyubachs
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October 21, 2016, 07:00:40 AM |
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Fiat will not be worthless as long as you can exchange it for good and services. In order for fiat to fall we would need a gigantic event that would be studied thousands of years from now at a roman empire fall tier of happening. We are talking about the biggest fall of empires ever.
Yes increasing the value of bitcoin cannot make any changes what so ever on how fiat being used,becuase its not about the price,its about how many peoples accept in all over the world,and increase value of bitcoin to $10.000 or even more would not make it take place of the fiat currencies. Yeah even if price goes in millions then also fiat will always exist as everyone prefers to use fiat as it can be used everywhere easily and even it holds support from the Government. |
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20kevin20
Legendary
Offline
Activity: 1134
Merit: 1597
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October 21, 2016, 07:04:12 AM |
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On the first hand Bitcoin will never reach that value and we have to be realistic and not dream because this is all wasted time if we talk about that it will reach the $10,000 so stop it also.
And no Fiat will be not worthless if that is going to happen but first you must let it happen and than we all can talk futher, the price is not even rise in the halving now.
Right 10,000$ in only in his dream because we know that the price of bitcoin can not reach that price. Fiat is can not be worthless because you can not use bitcoin directly to buy you want you need it first to convert it and use fiat to buy things. It's not really just in our dreams. Bitcoin used to seem impossible to reach $1 in the first years. Then it seemed impossible to reach $10, and then $100 and then $1000. Now it seems impossible for the price to reach $10k, but in my honest opinion.. With the recent halving, it's not impossible at all. |
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co5hike
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October 21, 2016, 07:25:32 AM |
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On the first hand Bitcoin will never reach that value and we have to be realistic and not dream because this is all wasted time if we talk about that it will reach the $10,000 so stop it also.
And no Fiat will be not worthless if that is going to happen but first you must let it happen and than we all can talk futher, the price is not even rise in the halving now.
Right 10,000$ in only in his dream because we know that the price of bitcoin can not reach that price. Fiat is can not be worthless because you can not use bitcoin directly to buy you want you need it first to convert it and use fiat to buy things. It's not really just in our dreams. Bitcoin used to seem impossible to reach $1 in the first years. Then it seemed impossible to reach $10, and then $100 and then $1000. Now it seems impossible for the price to reach $10k, but in my honest opinion.. With the recent halving, it's not impossible at all. Which halving are you talking about? Halving has already done and now we have to wait for next 4 years and if you are expecting $10k price from next halving then that is impossible to achieve in such a short time frame. |
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Hamtard
Newbie
Offline
Activity: 18
Merit: 0
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October 21, 2016, 07:37:04 AM |
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On the first hand Bitcoin will never reach that value and we have to be realistic and not dream because this is all wasted time if we talk about that it will reach the $10,000 so stop it also.
And no Fiat will be not worthless if that is going to happen but first you must let it happen and than we all can talk futher, the price is not even rise in the halving now.
Right 10,000$ in only in his dream because we know that the price of bitcoin can not reach that price. Fiat is can not be worthless because you can not use bitcoin directly to buy you want you need it first to convert it and use fiat to buy things. It's not really just in our dreams. Bitcoin used to seem impossible to reach $1 in the first years. Then it seemed impossible to reach $10, and then $100 and then $1000. Now it seems impossible for the price to reach $10k, but in my honest opinion.. With the recent halving, it's not impossible at all. After the SegWit is fully implemented, or the bitcoin block size is increased to 2MB or higher, the price will break $1000. |
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Shibashi Dogemoto
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October 21, 2016, 07:45:33 AM |
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I don't think that fiat will ever become worthless even price of bitcoin reaches to the moon as everyone is dependent on it for living and even if we have to use bitcoins we need to convert them to fiat first to spend them.
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Mastsetad
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October 21, 2016, 07:52:58 AM |
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To be honest, when it happens, there will be no FIAT money anymore. The government currency system will totally collapse and there will be a revolution of Cryptocurrency which is leaded by Bitcoin users. There will be no tax in the world and it will be much better when there is only one currency in the world: Bitcoin
That is just an imagination but reality would be totally different from that, as no government would let that happen as in that way they would lose control on the country or on the economic system of it which is something no government would want, and if that happens governments would go bankrupt i guess if there will be no tax at all. |
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fkvidar
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October 21, 2016, 12:03:00 PM |
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To be honest, when it happens, there will be no FIAT money anymore. The government currency system will totally collapse and there will be a revolution of Cryptocurrency which is leaded by Bitcoin users. There will be no tax in the world and it will be much better when there is only one currency in the world: Bitcoin
That is just an imagination but reality would be totally different from that, as no government would let that happen as in that way they would lose control on the country or on the economic system of it which is something no government would want, and if that happens governments would go bankrupt i guess if there will be no tax at all. Yeah taxes are important for the betterment and development of country but the fact is corrupted Government will use that money for their own benefits without helping the citizens of their country. |
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TheUltraElite
Legendary
Offline
Activity: 2870
Merit: 1220
Call your grandparents and tell them you love them
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October 21, 2016, 12:17:42 PM |
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I don't think that fiat will ever become worthless even price of bitcoin reaches to the moon as everyone is dependent on it for living and even if we have to use bitcoins we need to convert them to fiat first to spend them.
Specially true for countries that do not accept bitcoin as first preferred mode of payment. We have to convert first before transacting. Very cumbersome because we need an exchange for doing this and then pay the merchant. It better to pay in cash before wasting that time. |
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Oralmat
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October 21, 2016, 12:18:48 PM |
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I am not agree with you, because you know if bitcoin would be increased more than it $10000, than fiat currency has no problem from bitcoin, Worthless how can it would be possible?
If bitcoin might be reached at $10.000, than its mean bitcoin too expensive and majority of the people have no range to buy the bitcoins, but it give us great profit from us, who are already using the bitcoin.
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