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groll
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November 21, 2016, 04:09:25 AM |
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I don't think that makes much sense. It is possible that Bitcoin reaches this value someday, but it will not make people stop using fiat. To gain more users, Bitcoin must first reach more people willing to sell goods and services for Bitcoins. In this way, there will be greater liquidity in the market, and over time Bitcoin will gain more stability. This will give more confidence for people to use Bitcoin as a currency.
People would surely use bitcoin infact they are already using it as a currency, but that would probably not make fiat worthless in any means, no matter where bitcoin reaches but people will still use fiat as long as there is governmental system in the world and that system does not seem to be vanishing at all. I agree with you. Bitcoin is becoming a trend to many but not all people are using it. So we cannot tell that fiat will be worthless even if bitcoin's prices rises. We each have our own government and they control the trade and economic system of our countries. It needs to make "all people" use bitcoin to make fiat worthless. Also bitcoin's value depends in fiat. So It cannot make fiat worthless. |
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"This isn't the kind of software where we can leave so many unresolved bugs that we need a tracker for them." -- Satoshi
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Dudeperfect
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November 21, 2016, 06:08:07 AM |
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I don't think that makes much sense. It is possible that Bitcoin reaches this value someday, but it will not make people stop using fiat. To gain more users, Bitcoin must first reach more people willing to sell goods and services for Bitcoins. In this way, there will be greater liquidity in the market, and over time Bitcoin will gain more stability. This will give more confidence for people to use Bitcoin as a currency.
Exactly, some people will keep using fiat till the end of the world. Right now bitcoin is in beta stage and still exploring itself and I believe that we are in early stage because bitcoin is going to lasts long. Bitcoin will gain space in day to day transactions, both local as well as international but still it won’t ruin fiat (of any country). In most successful case bitcoin might reach the level of fiat but it won’t destroy fiat because it’s the way we are using so far. |
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freedomgo
Legendary
 Offline
Activity: 3094
Merit: 1144
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November 21, 2016, 06:10:29 AM |
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I don't think that makes much sense. It is possible that Bitcoin reaches this value someday, but it will not make people stop using fiat. To gain more users, Bitcoin must first reach more people willing to sell goods and services for Bitcoins. In this way, there will be greater liquidity in the market, and over time Bitcoin will gain more stability. This will give more confidence for people to use Bitcoin as a currency.
People would surely use bitcoin infact they are already using it as a currency, but that would probably not make fiat worthless in any means, no matter where bitcoin reaches but people will still use fiat as long as there is governmental system in the world and that system does not seem to be vanishing at all. I agree with you. Bitcoin is becoming a trend to many but not all people are using it. So we cannot tell that fiat will be worthless even if bitcoin's prices rises. We each have our own government and they control the trade and economic system of our countries. It needs to make "all people" use bitcoin to make fiat worthless. Also bitcoin's value depends in fiat. So It cannot make fiat worthless. The fact that we are increasing in terms of number now, we have a great future in bitcoin if we are just willing to take risk and hold now. I do not care if people are thinking to make fiat worthless when the price reach that level but I am here to take my profits. |
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Liad.Services
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November 21, 2016, 06:49:29 AM |
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I don't think that makes much sense. It is possible that Bitcoin reaches this value someday, but it will not make people stop using fiat. To gain more users, Bitcoin must first reach more people willing to sell goods and services for Bitcoins. In this way, there will be greater liquidity in the market, and over time Bitcoin will gain more stability. This will give more confidence for people to use Bitcoin as a currency.
People would surely use bitcoin infact they are already using it as a currency, but that would probably not make fiat worthless in any means, no matter where bitcoin reaches but people will still use fiat as long as there is governmental system in the world and that system does not seem to be vanishing at all. I agree with you. Bitcoin is becoming a trend to many but not all people are using it. So we cannot tell that fiat will be worthless even if bitcoin's prices rises. We each have our own government and they control the trade and economic system of our countries. It needs to make "all people" use bitcoin to make fiat worthless. Also bitcoin's value depends in fiat. So It cannot make fiat worthless. If bitcoin reaches 10K then it means that less then 0.01%, the worlds economy is much larger then 10K$ per bitcoin,and if everybody will use bitcoin on a daily basis,the price will reach to millions and even more then that. Also take in your mind that there are plenty of lost bitcoins that will never be recovered. |
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Zadicar
Legendary
Offline
Activity: 1330
Merit: 1020
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November 21, 2016, 12:05:32 PM |
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I don't think that makes much sense. It is possible that Bitcoin reaches this value someday, but it will not make people stop using fiat. To gain more users, Bitcoin must first reach more people willing to sell goods and services for Bitcoins. In this way, there will be greater liquidity in the market, and over time Bitcoin will gain more stability. This will give more confidence for people to use Bitcoin as a currency.
People would surely use bitcoin infact they are already using it as a currency, but that would probably not make fiat worthless in any means, no matter where bitcoin reaches but people will still use fiat as long as there is governmental system in the world and that system does not seem to be vanishing at all. I agree with you. Bitcoin is becoming a trend to many but not all people are using it. So we cannot tell that fiat will be worthless even if bitcoin's prices rises. We each have our own government and they control the trade and economic system of our countries. It needs to make "all people" use bitcoin to make fiat worthless. Also bitcoin's value depends in fiat. So It cannot make fiat worthless. If bitcoin reaches 10K then it means that less then 0.01%, the worlds economy is much larger then 10K$ per bitcoin,and if everybody will use bitcoin on a daily basis,the price will reach to millions and even more then that. Also take in your mind that there are plenty of lost bitcoins that will never be recovered. Those lost bitcoins cant really be recovered and they will just remain floating on bitcoin world. I dont think that bitcoins price would able to reach millions of dollars which is really impossible to achieve even on the future. Maybe it would possible on 3-5k dollars but not on millions even on $10k. Well who knows since no one could really able to predict the future. |
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clickerz
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November 21, 2016, 12:15:22 PM |
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Those lost bitcoins cant really be recovered and they will just remain floating on bitcoin world. I dont think that bitcoins price would able to reach millions of dollars which is really impossible to achieve even on the future. Maybe it would possible on 3-5k dollars but not on millions even on $10k. Well who knows since no one could really able to predict the future.
That is eally an ambitious prediction drom a Chinese miner/trader. Though anything can happen but to reach a million is not achieveble in our life time in m opinion. Though its only a speculation but some will definitely buy more bitcoin and hoard LOL |
Open for Campaigns
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goldcoinminer
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November 21, 2016, 12:17:32 PM |
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I don't think that makes much sense. It is possible that Bitcoin reaches this value someday, but it will not make people stop using fiat. To gain more users, Bitcoin must first reach more people willing to sell goods and services for Bitcoins. In this way, there will be greater liquidity in the market, and over time Bitcoin will gain more stability. This will give more confidence for people to use Bitcoin as a currency.
People would surely use bitcoin infact they are already using it as a currency, but that would probably not make fiat worthless in any means, no matter where bitcoin reaches but people will still use fiat as long as there is governmental system in the world and that system does not seem to be vanishing at all. I agree with you. Bitcoin is becoming a trend to many but not all people are using it. So we cannot tell that fiat will be worthless even if bitcoin's prices rises. We each have our own government and they control the trade and economic system of our countries. It needs to make "all people" use bitcoin to make fiat worthless. Also bitcoin's value depends in fiat. So It cannot make fiat worthless. If bitcoin reaches 10K then it means that less then 0.01%, the worlds economy is much larger then 10K$ per bitcoin,and if everybody will use bitcoin on a daily basis,the price will reach to millions and even more then that. Also take in your mind that there are plenty of lost bitcoins that will never be recovered. Those lost bitcoins cant really be recovered and they will just remain floating on bitcoin world. I dont think that bitcoins price would able to reach millions of dollars which is really impossible to achieve even on the future. Maybe it would possible on 3-5k dollars but not on millions even on $10k. Well who knows since no one could really able to predict the future. No one because we ain't God, we are just betting on the future of bitcoin to be progressive so at the same time we can ride with the success, I do not mind of the price as long as I am in profit and that means a lot for me because I am consistently investing. |
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Fidemoga
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November 22, 2016, 08:16:11 AM |
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I don't think that makes much sense. It is possible that Bitcoin reaches this value someday, but it will not make people stop using fiat. To gain more users, Bitcoin must first reach more people willing to sell goods and services for Bitcoins. In this way, there will be greater liquidity in the market, and over time Bitcoin will gain more stability. This will give more confidence for people to use Bitcoin as a currency.
People would surely use bitcoin infact they are already using it as a currency, but that would probably not make fiat worthless in any means, no matter where bitcoin reaches but people will still use fiat as long as there is governmental system in the world and that system does not seem to be vanishing at all. I agree with you. Bitcoin is becoming a trend to many but not all people are using it. So we cannot tell that fiat will be worthless even if bitcoin's prices rises. We each have our own government and they control the trade and economic system of our countries. It needs to make "all people" use bitcoin to make fiat worthless. Also bitcoin's value depends in fiat. So It cannot make fiat worthless. If bitcoin reaches 10K then it means that less then 0.01%, the worlds economy is much larger then 10K$ per bitcoin,and if everybody will use bitcoin on a daily basis,the price will reach to millions and even more then that. Also take in your mind that there are plenty of lost bitcoins that will never be recovered. Those lost bitcoins cant really be recovered and they will just remain floating on bitcoin world. I dont think that bitcoins price would able to reach millions of dollars which is really impossible to achieve even on the future. Maybe it would possible on 3-5k dollars but not on millions even on $10k. Well who knows since no one could really able to predict the future. No one because we ain't God, we are just betting on the future of bitcoin to be progressive so at the same time we can ride with the success, I do not mind of the price as long as I am in profit and that means a lot for me because I am consistently investing. For the bitcoin, you can just invest a certain amount of money every months. The price will rise in the long term. |
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mirakal
Legendary
Offline
Activity: 3122
Merit: 1290
Leading Crypto Sports Betting & Casino Platform
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November 22, 2016, 11:18:20 AM |
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For the bitcoin, you can just invest a certain amount of money every months. The price will rise in the long term.
That's sounds doable for an average investor, the good thing with bitcoin is that we do not need to raise a big amount of money because we can be eligible for investment, a little amount is already enough and we can do that on a installment basis which I believe would be easier for everyone. |
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X-ray
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November 22, 2016, 11:22:36 AM |
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For the bitcoin, you can just invest a certain amount of money every months. The price will rise in the long term.
That's sounds doable for an average investor, the good thing with bitcoin is that we do not need to raise a big amount of money because we can be eligible for investment, a little amount is already enough and we can do that on a installment basis which I believe would be easier for everyone. bitcoin is rarely rising in long term but as far as i know bitcoin price are more often rising in just short term. the latest price rising also just happen in few days or weeks. these sign mean that bitcoin is definitely not for long term investment. even investing some money every months will be helping you to have some profit out of it |
| ..Stake.com.. | | | ▄████████████████████████████████████▄
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delliaerd
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November 22, 2016, 12:02:38 PM |
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For the bitcoin, you can just invest a certain amount of money every months. The price will rise in the long term.
That's sounds doable for an average investor, the good thing with bitcoin is that we do not need to raise a big amount of money because we can be eligible for investment, a little amount is already enough and we can do that on a installment basis which I believe would be easier for everyone. bitcoin is rarely rising in long term but as far as i know bitcoin price are more often rising in just short term. the latest price rising also just happen in few days or weeks. these sign mean that bitcoin is definitely not for long term investment. even investing some money every months will be helping you to have some profit out of it A few months ago when the first time I knew about bitcoin, the price was $400 but the price is $700 now. If bitcoin price reach $10.000 people will leave fiat, people are get saturated with fiat now. So bitcoin is have a big chance to replace it. But if bitcoin can not, I think people will still leave fiat/paper money becouse its obviously worthless unlike gold. My opinion is people will back to use gold or make revolution to use bitcoin. |
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Positid
Sr. Member
Offline
Activity: 378
Merit: 250
BULL RUN until 2030
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November 22, 2016, 12:44:17 PM |
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For the bitcoin, you can just invest a certain amount of money every months. The price will rise in the long term.
That's sounds doable for an average investor, the good thing with bitcoin is that we do not need to raise a big amount of money because we can be eligible for investment, a little amount is already enough and we can do that on a installment basis which I believe would be easier for everyone. bitcoin is rarely rising in long term but as far as i know bitcoin price are more often rising in just short term. the latest price rising also just happen in few days or weeks. these sign mean that bitcoin is definitely not for long term investment. even investing some money every months will be helping you to have some profit out of it A few months ago when the first time I knew about bitcoin, the price was $400 but the price is $700 now. If bitcoin price reach $10.000 people will leave fiat, people are get saturated with fiat now. So bitcoin is have a big chance to replace it. But if bitcoin can not, I think people will still leave fiat/paper money becouse its obviously worthless unlike gold. My opinion is people will back to use gold or make revolution to use bitcoin. Fiat has been proven to be stable for a longer period of time since we are still using it, maybe I will believe that some investors will transfer their money in bitcoin but not to do away with fiat, they still need fiat as more than 99% in the world population are using FIAT. |
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Zadicar
Legendary
Offline
Activity: 1330
Merit: 1020
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November 22, 2016, 12:55:42 PM |
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For the bitcoin, you can just invest a certain amount of money every months. The price will rise in the long term.
That's sounds doable for an average investor, the good thing with bitcoin is that we do not need to raise a big amount of money because we can be eligible for investment, a little amount is already enough and we can do that on a installment basis which I believe would be easier for everyone. bitcoin is rarely rising in long term but as far as i know bitcoin price are more often rising in just short term. the latest price rising also just happen in few days or weeks. these sign mean that bitcoin is definitely not for long term investment. even investing some money every months will be helping you to have some profit out of it A few months ago when the first time I knew about bitcoin, the price was $400 but the price is $700 now. If bitcoin price reach $10.000 people will leave fiat, people are get saturated with fiat now. So bitcoin is have a big chance to replace it. But if bitcoin can not, I think people will still leave fiat/paper money becouse its obviously worthless unlike gold. My opinion is people will back to use gold or make revolution to use bitcoin. Fiat has been proven to be stable for a longer period of time since we are still using it, maybe I will believe that some investors will transfer their money in bitcoin but not to do away with fiat, they still need fiat as more than 99% in the world population are using FIAT. Not only on 99% but absolutely 100% all people do use fiat ever since the beggining of time and we do survive because of it and same as yours i do believe too that bitcoin cant really replace fiat even how it would be successful in the future.It may used for most people on the future but still fiat would remain. Lets think of it that how bitcoins would get value if fiat would be worthless. |
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Aamir1
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November 22, 2016, 05:24:47 PM |
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Ofcourse not.
Considering that there are 21M bitcoins to be ever exist(I didn't count all of the lost bitcoins that may be out there which is a number that is higher then 2-3 M for sure), then the total value of all the bitcoins would be 210B$, which is less then 0.01% of the total fiat that exists.
If you want to make fiat worthless, we will need the bitcoin price to be something around 50M$ which will also make 1mbtc to be worth 50K $ which is simply crazy.
Exactly, it is something really crazy at the first place, because the very first thing to be considered is that bitcoins are limited, there are only 21M bitcoins including the lost ones, so i don't feel even if the price of one bitcoin reaches to the price mentioned it would make fiat worthless, because only the price is not everything but the economy should be seen. |
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Ziskinberg
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November 23, 2016, 01:00:56 AM |
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Ofcourse not.
Considering that there are 21M bitcoins to be ever exist(I didn't count all of the lost bitcoins that may be out there which is a number that is higher then 2-3 M for sure), then the total value of all the bitcoins would be 210B$, which is less then 0.01% of the total fiat that exists.
If you want to make fiat worthless, we will need the bitcoin price to be something around 50M$ which will also make 1mbtc to be worth 50K $ which is simply crazy.
Exactly, it is something really crazy at the first place, because the very first thing to be considered is that bitcoins are limited, there are only 21M bitcoins including the lost ones, so i don't feel even if the price of one bitcoin reaches to the price mentioned it would make fiat worthless, because only the price is not everything but the economy should be seen. The price is merely the representation of its value and if fiat is worthless bitcoin will have the same effect, admit it that we cannot live without fiat and such as bitcoin and other crypto currencies here. Bitcoin will only be success if fiat will be here and when fiat inflates it's value, it will be good for us as people will transfer their money in fiat. |
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arseaboy
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November 23, 2016, 01:44:08 PM |
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Ofcourse not.
Considering that there are 21M bitcoins to be ever exist(I didn't count all of the lost bitcoins that may be out there which is a number that is higher then 2-3 M for sure), then the total value of all the bitcoins would be 210B$, which is less then 0.01% of the total fiat that exists.
If you want to make fiat worthless, we will need the bitcoin price to be something around 50M$ which will also make 1mbtc to be worth 50K $ which is simply crazy.
Exactly, it is something really crazy at the first place, because the very first thing to be considered is that bitcoins are limited, there are only 21M bitcoins including the lost ones, so i don't feel even if the price of one bitcoin reaches to the price mentioned it would make fiat worthless, because only the price is not everything but the economy should be seen. The price is merely the representation of its value and if fiat is worthless bitcoin will have the same effect, admit it that we cannot live without fiat and such as bitcoin and other crypto currencies here. Bitcoin will only be success if fiat will be here and when fiat inflates it's value, it will be good for us as people will transfer their money in fiat. That's a good point mate. Both fiat and bitcoin will still be exist in the future.. and bitcoin still depends on the value of fiat and it will be worthless without it. |
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SourThunder
Full Member
Offline
Activity: 196
Merit: 100
:)
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November 23, 2016, 01:48:37 PM |
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The OP has few misconceptions.
1. Fiat is not proportional to the price of BTC.
2. Fiat is established and has no effect on the change in BTC price as we speak.
3. If fiat is deemed worthless, I might argue about materials replacing currencies like Diamond, Gold, Platinum.
4. Price of a currency is relative to another and does not affect the other.
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clickerz
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November 23, 2016, 02:08:13 PM |
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Fiat has been proven to be stable for a longer period of time since we are still using it, maybe I will believe that some investors will transfer their money in bitcoin but not to do away with fiat, they still need fiat as more than 99% in the world population are using FIAT.
Thats why an option to buy bitcoin is for those who has sapre money to do so and for a person who are well aware of internet and cryptocurrency. Still fiat is king, everyday we used it and still it it is needed in daily real life transaction. Even bitcoin is @ $10.00 fiat is still stable and important. |
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freedomgo
Legendary
Offline
Activity: 3094
Merit: 1144
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November 24, 2016, 06:41:06 AM |
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Fiat has been proven to be stable for a longer period of time since we are still using it, maybe I will believe that some investors will transfer their money in bitcoin but not to do away with fiat, they still need fiat as more than 99% in the world population are using FIAT.
Thats why an option to buy bitcoin is for those who has sapre money to do so and for a person who are well aware of internet and cryptocurrency. Still fiat is king, everyday we used it and still it it is needed in daily real life transaction. Even bitcoin is @ $10.00 fiat is still stable and important. And that's will make fiat still worth it and for bitcoins adoption today still we all know that stores are very limited to those who are accepting bitcoins. It won't make fiat worthless even the value of bitcoin will be even higher as $100,000. Because it has been used for many years already and the people is trusting it more rather than bitcoin. Maybe the question that must be answered first is, is bitcoin will hit the value of $100,000 per BTC? |
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goldcoinminer
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November 24, 2016, 08:09:59 AM |
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Fiat has been proven to be stable for a longer period of time since we are still using it, maybe I will believe that some investors will transfer their money in bitcoin but not to do away with fiat, they still need fiat as more than 99% in the world population are using FIAT.
Thats why an option to buy bitcoin is for those who has sapre money to do so and for a person who are well aware of internet and cryptocurrency. Still fiat is king, everyday we used it and still it it is needed in daily real life transaction. Even bitcoin is @ $10.00 fiat is still stable and important. And that's will make fiat still worth it and for bitcoins adoption today still we all know that stores are very limited to those who are accepting bitcoins. It won't make fiat worthless even the value of bitcoin will be even higher as $100,000. Because it has been used for many years already and the people is trusting it more rather than bitcoin. Maybe the question that must be answered first is, is bitcoin will hit the value of $100,000 per BTC? That's too unrealistic for now, I do not see in the future that price will happen. If miracle will happen but I double people will be able to sell that amount because I have feeling that when the price hits $10,000 people will be willing to sell their bitcoins for money. |
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