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

[carlisle1]

just because a 1 bitcoin has more value than 1 paper bill doesn't mean that fiat will become worthless especially once the bitcoin price is already $10 000 . and I think even if bitcoin becomes used by many people fiat will still has its worth or value if you mean fiat will although it is only printed they are still coexist and it will still be used to determine/measure what the exact price of bitcoin is .

[cryp24x]

I don't think fiat will be useless but we are moving closer to a more digital society and a cashless system might come into place. What I can foresee is many governments and central banks eventually making their own digital version of fiat currency, that I do see as a possibility or very probable in my books.

This will more likely happen. Government adopting the idea of cryptocurrency and establishing their own centralized digital currency.  But it is still a long way from here.  I think fiat will always be used and Bitcoin will more probably a secondary option because Bitcoin will never be accepted as official currency of one nation.  Unless that nation leaders are actually insane

[JohanM]

1 BTC = 1,000$ is peanuts, so is 1 BTC = 10,000$. The ECB created 3 Trillion (3,000,000,000,000) Euro's out of nothing in the last few years. US Fed did basically the same before that.
3 Trillion Euro's in BTC would mean 1 BTC = 200,000 €. Even at this day every month they inject 60 billion Euro's into the system, that's 4 time the total Bitcoin value every month.

So no, $10,000 value will change nothing to fiat. At $100,000 things will start to change, at $1,000,000 they will be a major player.

[nara1892]

just because a 1 bitcoin has more value than 1 paper bill doesn't mean that fiat will become worthless especially once the bitcoin price is already $10 000 . and I think even if bitcoin becomes used by many people fiat will still has its worth or value if you mean fiat will although it is only printed they are still coexist and it will still be used to determine/measure what the exact price of bitcoin is .

agree. even bitcoin price hits $10,000 , I think there will be a few people who convert their bitcoins to fiat because bitcoin is not acceptable in their countries. I am not sure yet that bitcoin will be totally legal in all countries. so fiat will be still worth.

[soros017]

I don't think fiat will be useless but we are moving closer to a more digital society and a cashless system might come into place. What I can foresee is many governments and central banks eventually making their own digital version of fiat currency, that I do see as a possibility or very probable in my books.

This is the way we are going. Over time, people will realize that the cost of having a physical and highly inflationary currency is a much higher cost. In addition, the trend is for people to shop online more often, which is one reason why people are looking for a cheaper solution and less bureaucracy way to make online payments.

Another important aspect is that more and more people have a smartphone, and this will probably facilitate the use of cryptocurrencies to make micropayments.

[gabmen]

I don't agree with that statement. If bitcoin price will be $10.000 it will be useless without fiat. All cryptocurrencies has a conversion to fiat. If fiat would be useless, all banks and even world banks would be useless also. See the point?

You have the point and that's why fiat will never be worthless whether the price of bitcoin will be one million dollars. Still fiat needs to exist because it is the measurement of the price of bitcoin. Maybe for us users of bitcoin we can just boycott fiat and total forget about it but those people who don't know bitcoin, still they will need to use fiat.

This is exactly true. As long as majority of the people still rely on physical exchange and transaction, fiat will never be worthless. So even if bitcoin exceeds the 10k mark, thr fact that we still need to exchange btcs to real money most of the time, tells us that the age of cryptocurrency still is a long way ahead

[Roselop]

When bitcoin price hits 10,000$, Perhaps we will not use traditional currency (cash).
Untill that time, we will be using smart devices to pay everything with bitcoin.

[diegz]

When bitcoin price hits 10,000$, Perhaps we will not use traditional currency (cash).
Untill that time, we will be using smart devices to pay everything with bitcoin.

Even if bitcoin reaches a new ATH each month, fiat will still has value, it is not affected by bitcoins price increase. Fiat's value will only be gone when no one uses it and the country that owns it is not reproducing it anymore and put into circulation. That's the only time that fiat's value will start to drop.

[tee-rex]

When bitcoin price hits 10,000$, Perhaps we will not use traditional currency (cash).
Untill that time, we will be using smart devices to pay everything with bitcoin.

Even if bitcoin reaches a new ATH each month, fiat will still has value, it is not affected by bitcoins price increase. Fiat's value will only be gone when no one uses it and the country that owns it is not reproducing it anymore and put into circulation. That's the only time that fiat's value will start to drop.

It can also be the other way round. The country that owns the currency might be printing too much of it, and the circulation gets overwhelmed with an excessive amount of money leading to hyperinflation. This is what happened in Zimbabwe and can potentially happen to any fiat money in any country. If something like that happens to American dollar or Chinese yuan, the Bitcoin price will soar, and it will be an obvious outcome of the depreciation of any of these currencies.

[Dannison]

When bitcoin price hits 10,000$, Perhaps we will not use traditional currency (cash).
Untill that time, we will be using smart devices to pay everything with bitcoin.

Even if bitcoin reaches a new ATH each month, fiat will still has value, it is not affected by bitcoins price increase. Fiat's value will only be gone when no one uses it and the country that owns it is not reproducing it anymore and put into circulation. That's the only time that fiat's value will start to drop.

But the value of the fiat will decrease faster when more people use the bitcoin.

[Rinder]

Doesnt matter how much bitcoin will achieve on the next years, without countries and people support bitcoin will becamoe worthless. The most people does use and have bitcoin with the purpose to get and make easy money over bitcoin, the main interest at bitcoin is to make money. Fiat will be always present and there is nothing that bitcoin can make to change it.

[Ocytrem]

When bitcoin price hits 10,000$, Perhaps we will not use traditional currency (cash).
Untill that time, we will be using smart devices to pay everything with bitcoin.

This could be an option, I also do not think that the bitcoin itself is strong enough to even get this price, lets hope on it but I do not think it will happen.

[Positid]

I don't agree with that statement. If bitcoin price will be $10.000 it will be useless without fiat. All cryptocurrencies has a conversion to fiat. If fiat would be useless, all banks and even world banks would be useless also. See the point?

You have the point and that's why fiat will never be worthless whether the price of bitcoin will be one million dollars. Still fiat needs to exist because it is the measurement of the price of bitcoin. Maybe for us users of bitcoin we can just boycott fiat and total forget about it but those people who don't know bitcoin, still they will need to use fiat.

This is exactly true. As long as majority of the people still rely on physical exchange and transaction, fiat will never be worthless. So even if bitcoin exceeds the 10k mark, thr fact that we still need to exchange btcs to real money most of the time, tells us that the age of cryptocurrency still is a long way ahead

Yes no matter what will be the amount of bitcoin as long as the government, your country and big countries are not completely dedicating their financial systems to bitcoin. Still we will use the usual way of buying and selling of goods and services by means of fiat. Crypto is good for making it another way of transacting but if it will make fiat worthless, I guess that will be hard time to happen.

What's best with bitcoin is we do not need millions of users to make the price grow as it depends on the demand of its users. The supply is limited so there's no inflation and whatever the future is, we can always call bitcoin as investment.

[rajasumi3]

bitcoin will never be able to suck all the fiat money, they can just print more without problem

also fiat is already worthless, but you're obligated to use it for the majority of things

if you mean collapsed, i don't think so

how can it be worthless from now onwards .the whole global is running on fiat and some places accept bitcoins and other digital currency .and it is long way to go when fiat will become worthless.

[delliaerd]

bitcoin will never be able to suck all the fiat money, they can just print more without problem

also fiat is already worthless, but you're obligated to use it for the majority of things

if you mean collapsed, i don't think so

how can it be worthless from now onwards .the whole global is running on fiat and some places accept bitcoins and other digital currency .and it is long way to go when fiat will become worthless.

Fiat is worthless. When government print it the value is automaticaly decrease, becouse of inflation. I am sure if bitcoin price reach $10.000 USD fiat will become worthless. When fiat value is decrease everytime bitcoin value is increase everytime becouse of deflation. So I think smart people will leave fiat and use some thing that give them benefit and safe their wealt. That is my opinion.

[CyberKuro]

When bitcoin price hits 10,000$, Perhaps we will not use traditional currency (cash).
Untill that time, we will be using smart devices to pay everything with bitcoin.

We will still use fiat money even if bitcoin price reach $10000/BTC1 obviously.
Because not all of citizens of the country using bitcoin and there are more places not accepted bitcoin for sure.
What may happen is bitcoiners use bitcoin more than fiat money and it's just an alternative of currency not a major.
Not everything can be purchase using bitcoin in the future.

[RealPhotoshoper]

bitcoin will never be able to suck all the fiat money, they can just print more without problem

also fiat is already worthless, but you're obligated to use it for the majority of things

if you mean collapsed, i don't think so

how can it be worthless from now onwards .the whole global is running on fiat and some places accept bitcoins and other digital currency .and it is long way to go when fiat will become worthless.

Fiat is worthless. When government print it the value is automaticaly decrease, becouse of inflation. I am sure if bitcoin price reach $10.000 USD fiat will become worthless. When fiat value is decrease everytime bitcoin value is increase everytime becouse of deflation. So I think smart people will leave fiat and use some thing that give them benefit and safe their wealt. That is my opinion.

Smart people will use both fiat and bitcoin at same time at least for now to see the development between them.
You cannot just leaving fiat and go full use bitcoin , as you cannot do much with bitcoin in real life.
We don't what will happened but to anticipate something unexpected you guys better to have both .

[el kaka22]

I don't agree with that statement. If bitcoin price will be $10.000 it will be useless without fiat. All cryptocurrencies has a conversion to fiat. If fiat would be useless, all banks and even world banks would be useless also. See the point?

You have the point and that's why fiat will never be worthless whether the price of bitcoin will be one million dollars. Still fiat needs to exist because it is the measurement of the price of bitcoin. Maybe for us users of bitcoin we can just boycott fiat and total forget about it but those people who don't know bitcoin, still they will need to use fiat.

Fiat has been used for a very long time and it will be the case for many years to come, because people are more used to it and they use it in very day needs and everything and trying to change that is a difficult thing, so trying to change people from using fiat to bitcoin will take at least 10 more years.

[BitcoinPanther]

When bitcoin price hits 10,000$, Perhaps we will not use traditional currency (cash).
Untill that time, we will be using smart devices to pay everything with bitcoin.

I think no, the usage of bitcoin or fiat currency depends on the adoption of people on which currency they are accepting.  Even if Bitcoin is $1M each if there are still a few merchants accepting bitcoin as payment, we are still forced to use currency as mode of payment.  This is an indication that price of one currency is irrelevant whether the other currency will be worthless.

[Xenophoto]

I don't agree with that statement. If bitcoin price will be $10.000 it will be useless without fiat. All cryptocurrencies has a conversion to fiat. If fiat would be useless, all banks and even world banks would be useless also. See the point?

You have the point and that's why fiat will never be worthless whether the price of bitcoin will be one million dollars. Still fiat needs to exist because it is the measurement of the price of bitcoin. Maybe for us users of bitcoin we can just boycott fiat and total forget about it but those people who don't know bitcoin, still they will need to use fiat.

Fiat has been used for a very long time and it will be the case for many years to come, because people are more used to it and they use it in very day needs and everything and trying to change that is a difficult thing, so trying to change people from using fiat to bitcoin will take at least 10 more years.

I guess 10 years is already enough to make the people familiar with bitcoin or any currency that is not tangible. But there are certain measurements that needed to be study for a very long time. If we are talking about bitcoins replacement of fiat, how about those people who are living in poor areas where they can't even touch any keyboard or mouse and they will be expose to bitcoins usage?

Those kind of people are uncivilized IMO. There's this thing called the digital divide. You should look it up. Those people that have computer and can afford a smartphone will be using bitcoins and those people that can't afford one might just continue using fiat or they will adapt to the continuously improving environment and buy a smartphone to use bitcoins. Those people that don't have access to computers don't care about whatever improvement the Internet has to offer or should I say they can't even if they wanted to. They will not be affected to whatever's the trend on the internet or whatever currency is everyone using on the internet.