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

[gkv9]

Fiat can't be worthless, else the valuation that you will be getting for your bitcoins will be counted as worthless too...
If dollar crashes and the price is $10000, then just imagine whether your coins will actually be worth the price shown??? Won't they be counted devaluated with the devaluation in fiat???

[goldcoinminer]

Fiat can't be worthless, else the valuation that you will be getting for your bitcoins will be counted as worthless too...
If dollar crashes and the price is $10000, then just imagine whether your coins will actually be worth the price shown??? Won't they be counted devaluated with the devaluation in fiat???

Should be happy when that time comes but I will not  expect fiat will be worthless. Bitcoin is never a threat to erase what we are use to using because it is a system that helps people transact easy but it can not be our main currency as all of us cannot use it with convenience..

[Qunenin]

Not at all infact the value of btc will move towards zero. Since from 1000$ or at present 700$ it becomes 10$ it means it is worthless due wot which the fall has taken place and people in anticipation that again it will reach 700$ may buy else its clear indication that fall is not for the rise. but to end

I think bitcoin can never be worthless. Even if when the price is very low, it good for the people who can buy it as an investment and sell it at a higher rate. Bitcoin rate is like a gold rate. It keeps on move up and down and intelligent investors take profit from it.

[Positid]

Not at all infact the value of btc will move towards zero. Since from 1000$ or at present 700$ it becomes 10$ it means it is worthless due wot which the fall has taken place and people in anticipation that again it will reach 700$ may buy else its clear indication that fall is not for the rise. but to end

I think bitcoin can never be worthless. Even if when the price is very low, it good for the people who can buy it as an investment and sell it at a higher rate. Bitcoin rate is like a gold rate. It keeps on move up and down and intelligent investors take profit from it.

Maybe I should consider myself as part of the intelligent investors because I am making money in bitcoin by trading and short term investment. It is the most amazing investment so far in my life's experience because it's unique and revolutionary.

[Rostadom]

If fiat is worthless and bitcoin is valued as $10,000, then basically even the bitcoin will be worthless as well. So my answer to this question is no. Even when people are starting to migrate to bitcoins, fiat should still be accepted and should still have a value.

I really think this is possible in the far future. All of the fiat money would be collected by the banks/government just like how they collect the "old" designed fiat when they are releasing a "new" design in their fiat currency.

[STT]

Not really the case, anywhere mastercard can be used is where bitcoin is possible to pay a bill with.   You cannot directly transact in bitcoin but then its not that unusual to be using a payment service, I can travel to another country and pay with my national currency and the mastercard will change the currency for me so really you can use bitcoin in that same way and its here today

 

will the current government systems remain in power or are we in for a disrupting change?
Well... probably the former.

democratic government changes all the time, the biggest failings are within that system still

[Mastsetad]

Fiat can't be worthless, else the valuation that you will be getting for your bitcoins will be counted as worthless too...
If dollar crashes and the price is $10000, then just imagine whether your coins will actually be worth the price shown??? Won't they be counted devaluated with the devaluation in fiat???

Even if dollar crashes and the price of bitcoin is $10000 then you can still exchange them to other currencies and then use them, but even if the price of bitcoin reaches 50k it would still not be able to make fiat worthless and it will always be converted to fiat at the end.

[mirakal]

Fiat can't be worthless, else the valuation that you will be getting for your bitcoins will be counted as worthless too...
If dollar crashes and the price is $10000, then just imagine whether your coins will actually be worth the price shown??? Won't they be counted devaluated with the devaluation in fiat???

Even if dollar crashes and the price of bitcoin is $10000 then you can still exchange them to other currencies and then use them, but even if the price of bitcoin reaches 50k it would still not be able to make fiat worthless and it will always be converted to fiat at the end.

That's it, the value of bitcoin primarily rely on the world economics and we are using fiat as a way to measure the value of what we are holding. We should not think that it will replace fiat as that is far from happening or can be called as impossible to happen.

[hase0278]

When bitcoin's price is 10,000 USD, Fiat will not be worthless in my opinion. It will still have worth after all bitcoin's value at that time will still be based on fiat so it will still have value. If bitcoin's price would not depend on dollar and maybe it would depend on gold and bitcoin will be mainly used for purchasing daily needs, in that instant I think fiat would be worthless but the chance of it happening is slim.

[crairezx20]

When bitcoin's price is 10,000 USD, Fiat will not be worthless in my opinion. It will still have worth after all bitcoin's value at that time will still be based on fiat so it will still have value. If bitcoin's price would not depend on dollar and maybe it would depend on gold and bitcoin will be mainly used for purchasing daily needs, in that instant I think fiat would be worthless but the chance of it happening is slim.

Fiat will be  still worth even the price of bitcoin is very high.. if there is no fiat bitcoin is worthless.. because bitcoin has value because of fiat.. so if there is no fiat how we can exchange bitcoin.? its a common sense in my opinion.

[STT]

if there is no fiat bitcoin is worthless.. because bitcoin has value because of fiat

Thats what a government might like you to think.   Fiat money can be used to pay taxes, its primary purpose.    Bitcoin has value despite no exchange to taxes with any government, it is a far lower cost globally transmittable secure system.

In the end bitcoin might even be more secure then fiat money, physical or digital because its secured by users not a central body.   Bitcoin has value as token through its use, secure and ease of use.    If USA goes broke, bitcoin is still usable and will have value anyway, its not depending on one country to exist and its not relying on a bank to stay solvent

[daniahya]

Not at all infact the value of btc will move towards zero. Since from 1000$ or at present 700$ it becomes 10$ it means it is worthless due wot which the fall has taken place and people in anticipation that again it will reach 700$ may buy else its clear indication that fall is not for the rise. but to end

I think bitcoin can never be worthless. Even if when the price is very low, it good for the people who can buy it as an investment and sell it at a higher rate. Bitcoin rate is like a gold rate. It keeps on move up and down and intelligent investors take profit from it.

for bitcoin currently still having initial ascent, to buy cheap will definitely benefit, to invest long term seems beneficial because I am sure the future can ride, but we don't know the future will come

[bhadz]

Regardless the amount of bitcoin, fiat will still remain and bitcoin will be treated just a good another alternative currency but the fact that bitcoin will take over the usage of fiat, it won't. Because bitcoin is not going to be beneficial for the government unless the government is going to create their own law to take over the usage of bitcoin even without control.

[Invulner]

Fiat is already and will continue to be worthless. There is no doubt about that. All fiat currency is just a piece of paper that has some fancy shit stamped on top of it. You shouldn't care about fiat money when you have a better alternative like BTC.

[TheUltraElite]

Fiat is already and will continue to be worthless. There is no doubt about that. All fiat currency is just a piece of paper that has some fancy shit stamped on top of it. You shouldn't care about fiat money when you have a better alternative like BTC.

What about those countries that do not accept bitcoin? You cannot call fiat worthless there - its your daily bread and your lifeforce. Without it you cannot survive

Fiat will always be there since the adoption of bitcoin in every place is difficult and almost impossible. Many people are uneducated and can never really trust the bitcoin network. They will forever continue to use fiat.

[dEjAvU97]

No it will not be worthless. The main reason because of this, is because the governments are controlling what they accept as currency in that country. You're still going to need to exchange if you're going grocery shopping or whatever.

[Gotottack]

No it will not be worthless. The main reason because of this, is because the governments are controlling what they accept as currency in that country. You're still going to need to exchange if you're going grocery shopping or whatever.

What if bitcoin becomes part of daily life? And bitcoin gets integrated into a lot of systems. Then the days of paper currency will be over. Everything will be digital.

[choppork]

I don't think fiat will ever be worthless. They might come a time when bitcoin will finally be accepted by most people and the price would sky rocket this high but the fiat money will always stay the same and have the same value. I'm pretty sure the government will not allow their fiat currency to just become worthless.

[Gotottack]

I don't think fiat will ever be worthless. They might come a time when bitcoin will finally be accepted by most people and the price would sky rocket this high but the fiat money will always stay the same and have the same value. I'm pretty sure the government will not allow their fiat currency to just become worthless.

True, but I think in the future the human race will no longer use paper money. So the governments must develop a digital currency that would replace money. It may or may not be Bitcoin. But the fact of the matter is, digital currency or cryptocurrency will be the future of money.

[Invulner]

I don't think fiat will ever be worthless. They might come a time when bitcoin will finally be accepted by most people and the price would sky rocket this high but the fiat money will always stay the same and have the same value. I'm pretty sure the government will not allow their fiat currency to just become worthless.

True, but I think in the future the human race will no longer use paper money. So the governments must develop a digital currency that would replace money. It may or may not be Bitcoin. But the fact of the matter is, digital currency or cryptocurrency will be the future of money.

Definitely. Fiat currency is overtaken by decentralized economies like bitcoin itself and other altcoins. Even if it is not decentralized the world is fast digitizing and fiat paper currency will no longer be of any use.