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

[South Park]

I think in the case that bitcoin will cost 10 000$ per 1 BTC government will ban it. Because in that case every bitcoin user will be more or less reach and all that people will try to cash out their money. And that will affect on the whole economy in the world. I think bitcoin will never grow so high. Government will not just let it to happen.

If all the people tried to cash out at the same time the price of bitcoin will crash, besides it is not like bitcoin could soak all the money out of circulation since the government could always print more of it.

[Taki]

Fiat will never be worthless .there will be both ways of payments .and the price of bitcoins rising to 10000 dollars is a long way to go .and by that time it may have hapen many countries might banned the digital cryptocurrency bitcoins .kudoos

Depend on the regulation the government is going to make.
If bitcoin price is reaching $10,000 then the fiat will not be worthless but the bitcoin will be more precious. the fiat will remain the same and anything related to it will goes normally. the bitcoin price rising never affect fiat directly

I think in the case that bitcoin will cost 10 000$ the whole bitcoin system will fall or it will attract new economic crisis. Just imagine how many people, bitcoin owners, will wish to cash out their bitcoins to not skip that goldy chance? Many.

[deisik]

I think in the case that bitcoin will cost 10 000$ per 1 BTC government will ban it. Because in that case every bitcoin user will be more or less reach and all that people will try to cash out their money. And that will affect on the whole economy in the world. I think bitcoin will never grow so high. Government will not just let it to happen.

If all the people tried to cash out at the same time the price of bitcoin will crash, besides it is not like bitcoin could soak all the money out of circulation since the government could always print more of it.

The matter is the exact opposite of what you say

Bitcoin cannot possibly soak fiat currency out of circulation since it would actually add more fiat into circulation per same amount of goods, both directly (through immediate participation in the exchange of goods) and indirectly (through substituting fiat as a store of value). And the government would have to destroy fiat money (or Bitcoin, for that matter) instead of printing more of it

[NEWGOODOUBLE]

I think in the case that bitcoin will cost 10 000$ per 1 BTC government will ban it. Because in that case every bitcoin user will be more or less reach and all that people will try to cash out their money. And that will affect on the whole economy in the world. I think bitcoin will never grow so high. Government will not just let it to happen.

If all the people tried to cash out at the same time the price of bitcoin will crash, besides it is not like bitcoin could soak all the money out of circulation since the government could always print more of it.

of course when everyone sells their bitcoin bitcoin certainly demand will be decreased and it will make the price to go down anyway, how to keep the price could rise as high as $ 10k?

[DrGuns4Hands]

if this happen ithink there will be no more fiat and all of us will use digital currency because if this happen and fiat is still there the economy will be destroy because it has a cycles thats why they're still balancing the situation and bitcoin still depending on investor when they will price will rise. im still looking forward till bitcoin hit 1000 us dollars . 

[mundang]

No i dont think that fiat would be worthless when the bitcoin price goes up at 10k$. First thing is you will be converting bitcoin into fiat to be able to spend it your country. You can only use bitcoin online,but fiat is the well known currency we used in different country.

[Positid]

No i dont think that fiat would be worthless when the bitcoin price goes up at 10k$. First thing is you will be converting bitcoin into fiat to be able to spend it your country. You can only use bitcoin online,but fiat is the well known currency we used in different country.

It does not work that way because the price of bitcoin is basically base on fiat, without fiat bitcoin would not reach that amount. Just by simply understanding that bitcoin will never be the mainstream currency like what others are thinking will make us appreciate the value of fiat and bitcoin.

[lEgEndArIUs]

I think this is a price that can still be achieved, hope bitcoin made sure already calculated that 1 satosi must have the value of 1 cent or more. So I believe that price is the usual in 5 years again.

[rajasumi3]

no it will not be worthless at all.bitcoins price may increase too much but fiat is fiat .people will not be able  to understand too much and end up protesting about it.beating fiat is next to impossible.

[ikydesu]

No i dont think that fiat would be worthless when the bitcoin price goes up at 10k$. First thing is you will be converting bitcoin into fiat to be able to spend it your country. You can only use bitcoin online,but fiat is the well known currency we used in different country.

It does not work that way because the price of bitcoin is basically base on fiat, without fiat bitcoin would not reach that amount. Just by simply understanding that bitcoin will never be the mainstream currency like what others are thinking will make us appreciate the value of fiat and bitcoin.

I would agree, bitcoin can't be mainstream currency which over 20% people of the population on this planet will use it, since bitcoin designed as alternative currency and have limited supply.
Government will not just let their currency fall, it's have been here since the 11th century when first time paper money introduced.

[SvenBomvolen]

no it will not be worthless at all.bitcoins price may increase too much but fiat is fiat .people will not be able  to understand too much and end up protesting about it.beating fiat is next to impossible.

   I have same thinking about this matter, its very hard that fiat will be worthless one day, and OPs headline is a bit contrary, how can fiat will be worthless and price for one bitcoin to be 10000 $. If fiat is worthless then we cant measure price of bitcoin with dollars.

[crairezx20]

No i dont think that fiat would be worthless when the bitcoin price goes up at 10k$. First thing is you will be converting bitcoin into fiat to be able to spend it your country. You can only use bitcoin online,but fiat is the well known currency we used in different country.

It does not work that way because the price of bitcoin is basically base on fiat, without fiat bitcoin would not reach that amount. Just by simply understanding that bitcoin will never be the mainstream currency like what others are thinking will make us appreciate the value of fiat and bitcoin.

I would agree, bitcoin can't be mainstream currency which over 20% people of the population on this planet will use it, since bitcoin designed as alternative currency and have limited supply.
Government will not just let their currency fall, it's have been here since the 11th century when first time paper money introduced.

Bitcoin is not a perfect currency it is only good for alternative so i can say that it is not a good mainstream currency..
many weaknesses for bitcoin because it is really needs internet to be make transaction.. there is some place that there is still no internet.. like in our province here in my country.. you need to go to the top of the hill before you can get a signal for internet..

[TheUltraElite]

No i dont think that fiat would be worthless when the bitcoin price goes up at 10k$. First thing is you will be converting bitcoin into fiat to be able to spend it your country. You can only use bitcoin online,but fiat is the well known currency we used in different country.

It does not work that way because the price of bitcoin is basically base on fiat, without fiat bitcoin would not reach that amount. Just by simply understanding that bitcoin will never be the mainstream currency like what others are thinking will make us appreciate the value of fiat and bitcoin.

I would agree, bitcoin can't be mainstream currency which over 20% people of the population on this planet will use it, since bitcoin designed as alternative currency and have limited supply.
Government will not just let their currency fall, it's have been here since the 11th century when first time paper money introduced.

Bitcoin is not a perfect currency it is only good for alternative so i can say that it is not a good mainstream currency..
many weaknesses for bitcoin because it is really needs internet to be make transaction.. there is some place that there is still no internet.. like in our province here in my country.. you need to go to the top of the hill before you can get a signal for internet..

For places which has physical problems to get internet, bitcoin may not be popular and worth using. That is a good reason why fiat stills rules large in those countries and people dont get the basic internet facilities yet. However times are changing and we may soon see better amenities of life with improved conditions later on.

[Woodie]

If the price of bitcoins was to go that high hodlers and most bitcoiners  will be selling off their bitcoins for fiat and might cause more demand  for fiat itself but I think this would negatively affect the bitcoin price as their would be more supply than demand causing the bitcoin price to drop faster than imagined!!

[Doamader]

Internet its something that in the next years should be at all places, and if not for free it will require a small fee to use it, the world its conected and this is something wont change. A big value of each bitcoin will make harder to the most to get them, im not able to get 1 btc at the current price, i cant imagine buying it with those value. Fiat will be always used, some people dont trust internet, others dont know how a computer works, this should change on the next 20 years, since young people will help.

[choppork]

If the price of bitcoins was to go that high hodlers and most bitcoiners  will be selling off their bitcoins for fiat and might cause more demand  for fiat itself but I think this would negatively affect the bitcoin price as their would be more supply than demand causing the bitcoin price to drop faster than imagined!!

That's not true. If bitcoin's price is 10,000$, it's most probably because people have been using it for so long already and mass adoption has already happened. People wouldn't do panic selling and even create a significant demand for fiat because the price of bitcoin wouldn't increase this much by just a short period of time. It would take years for bitcoin to reach this price and bitcoin holders would most likely to hold their coins even longer because the price is already high. They would just withdraw sufficient amount of bitcoins for them to buy stuffs that they want. They don't have to withdraw all of them at once.

[deisik]

No i dont think that fiat would be worthless when the bitcoin price goes up at 10k$. First thing is you will be converting bitcoin into fiat to be able to spend it your country. You can only use bitcoin online,but fiat is the well known currency we used in different country.

It does not work that way because the price of bitcoin is basically base on fiat, without fiat bitcoin would not reach that amount. Just by simply understanding that bitcoin will never be the mainstream currency like what others are thinking will make us appreciate the value of fiat and bitcoin.

I would agree, bitcoin can't be mainstream currency which over 20% people of the population on this planet will use it, since bitcoin designed as alternative currency and have limited supply.
Government will not just let their currency fall, it's have been here since the 11th century when first time paper money introduced.

Bitcoin is not a perfect currency it is only good for alternative so i can say that it is not a good mainstream currency..
many weaknesses for bitcoin because it is really needs internet to be make transaction.. there is some place that there is still no internet.. like in our province here in my country.. you need to go to the top of the hill before you can get a signal for internet..

For places which has physical problems to get internet, bitcoin may not be popular and worth using. That is a good reason why fiat stills rules large in those countries and people dont get the basic internet facilities yet. However times are changing and we may soon see better amenities of life with improved conditions later on.

In these godforsaken places even fiat couldn't be used efficiently

Just imagine that all purchases as well as any other financial transaction should be carried out with cash money exclusively. If you wanted to transfer a certain amount to someone, that would require physical movement of bills from one place to another, i.e. transfer of funds in the literal sense of the word. Without proper means of communication any money would suck heavily, and organizing circulation of money would be hell in and of itself

[cardoyasilad]

I dont agree with that. Fiat cant be worthless even if bitcoin reaches that price how many years we have been using fiat in our daily transactions even the bitcoin appear in past years.

[Zadicar]

I dont agree with that. Fiat cant be worthless even if bitcoin reaches that price how many years we have been using fiat in our daily transactions even the bitcoin appear in past years.

It wont really happen since bitcoin is getting its value from fiat and how would fiat would become worthless? If it would become useless then bitcoin might be considered as the global currency but i think it wont happen anytime soon. Fiat would still remain since its been regulated byt the government and they would not let this thing to happen for sure. It would be used for more generations and will still exist no matter what.

[passwordnow]

I dont agree with that. Fiat cant be worthless even if bitcoin reaches that price how many years we have been using fiat in our daily transactions even the bitcoin appear in past years.

It wont really happen since bitcoin is getting its value from fiat and how would fiat would become worthless? If it would become useless then bitcoin might be considered as the global currency but i think it wont happen anytime soon. Fiat would still remain since its been regulated byt the government and they would not let this thing to happen for sure. It would be used for more generations and will still exist no matter what.

Yes it is not going to happen as we already using fiat in the long run and the government will not even agree that they will devalue fiat just because of bitcoin. Because bitcoin is still decentralized and the government doesn't have power to control the supply and regulate it.