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

[deisik]

Well for my own opinion doesn't matter how much bitcoin is,
As long as it can't be used to pay anything that we need Fiat will still be worth it.

No chance at all, fiat money will be always the first and the best option for daily transaction instead of using bitcoin, because :
- People/citizens do not need to have any wallet
- Complicated transaction for layman
- No need to pay fee for every single transaction
- bitcoin transaction  takes time (even for hours) to be confirmed
Long live for fiat money, especially for cash. I agree with you, as long as bitcoin can not be useful and simple like cash, fiat won't be worthless.

I voice my strong disagreement with this opinion

Right now, that may well be the case, but since you are talking about things not changing in the future ("fiat money will be always the first"), I think I should point out where this might not be the case in the future and where it is outright wrong even now
   - if you are talking about cash, this by definition means that you need a wallet. Even if you just put money in your trousers you still need pockets. This is even more so with digital fiat since you would you need a bank account or a payment card, or both. This is essentially the same as a Bitcoin wallet
   - learn about web wallets at last
   - tell me another. The only case where you don't need to pay fees is paying directly with cash (and even this is debatable)
   - that may change in the nearest future with the introduction of off-chain transactions. We are bound to get there eventually whether someone may like it or not

You stated how paying with cash has no fees and how it is debatable and how using bitcoin will eventually free us from those fees, but it is not the way I see it and probably everyone does, right now bitcoin transaction are a t state where you need to send fees alongside to ensure that you transaction gets faster or you are just going have to wait for a day to get it to transfer, why would people do that, so unless we want that to be the case then the fees will be the deaths of bitcoin

Honestly, I don't quite understand the point of your post

When you are making fiat transactions using banks, you will likely have to pay around 1-2% fee of the sum transacted. Some banks allow free of charge transactions (or just charge a very low fixed fee), but these are possible only up to a certain limit (and the number of such banks is really low). So this is nowhere near "no need to pay fee for every single transaction" as the poster which I replied to claimed (and whose post you seem to have not read). Regarding Bitcoin transactions with low fees, I specified precisely the conditions under which that would be possible ("with the introduction of off-chain transactions"). So what is your point really?

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[Pattart]

Tell you all what, when we stop quoting crypto value in fiat and fiat all over the world start quoting their respective values against bitcoin, then maybe we can think about this question. When people ask if USD price is 0.000001 BTC and every market starts doing their spreads in satoshi, yeah, then we're on our way!

I don’t think bitcoin will reach that acceptance since that would mean bitcoin would have become the new top dog in the world of currencies and it is difficult to stomach that governments are going to allow that without a fight against bitcoin.

yeah I think it is a difficult thing because the government will continue to fight and will continue to prohibit bitcoin bitcoin. I think the price is also impossible..

[jems]

i don't agree because any work is worthless and i think its happen many people turn to usd because they don't have coins wallet and if don't happen because government and people disagree for that

[Kotone]

i don't agree because any work is worthless and i think its happen many people turn to usd because they don't have coins wallet and if don't happen because government and people disagree for that

If you are loving your work it always be a worth when you always appreciate on what happening on your life. It easy to use coins wallet there are blockchain and other bitcoin wallet that you can use Fiat is always there to us to convert our bitcoin easily.

[iv4n]

Much mlre votes for NO, and little contradiction how can bitcoin worth 10 000 dollars when dollar is worthless, how you imagine that to happen?
Fiat will be present for many more years, just some world revolution can end dollar domination, and bitcoin is good start for that revolution, but many more things has to be done to come to that.

[whizter]

Tell you all what, when we stop quoting crypto value in fiat and fiat all over the world start quoting their respective values against bitcoin, then maybe we can think about this question. When people ask if USD price is 0.000001 BTC and every market starts doing their spreads in satoshi, yeah, then we're on our way!

I don’t think bitcoin will reach that acceptance since that would mean bitcoin would have become the new top dog in the world of currencies and it is difficult to stomach that governments are going to allow that without a fight against bitcoin.

yeah I think it is a difficult thing because the government will continue to fight and will continue to prohibit bitcoin bitcoin. I think the price is also impossible..

i think the government will accept the importance of bitcoin and in the end the governments have to accept bitcoin as legal currency. but i think it will take some more time.

[Erza]

Bitcoin is only a little portion of the amount of money that is outside in the world today. We have USD, JPY, CHF, etc bills that are all circulating in the world so if we combine that all together then Bitcoin at $10,000 per coin shouldn't be that much of an issue.
There is also the other Currencies that were used before the newer ones was published so there is plenty of fiat to go around if the price does get to $10,000 per coin.

Crypto's will never replace fiat even bitcoin reach high value. Fiat circulatingall over the world is very huge amount compared to the total volume bitcoin available, unless bitcoin will be accepted by the government, then there is possibility to replace by bitcoin so that their will be 1 currency on the world and easy to trade

Yes that is true, because cryto is based on bitcoin price, whether bitcoin price is drop the altcoin will high of course and it will be the same thing too on bitcoin which is based on dollars too. And btw why do you think that bitcoin will be accepted by government? I do not think they can even control it if they have all their tech

[hisuka]

For me, even bitcoin price will hit this big price fiat will still not be worthless. Fiat is still the main currency all over the world. Even bitcoin continously increasing users still into use to cashout using fiat. It will not be worthless though.

[Fatanut]

Bitcoin is only a little portion of the amount of money that is outside in the world today. We have USD, JPY, CHF, etc bills that are all circulating in the world so if we combine that all together then Bitcoin at $10,000 per coin shouldn't be that much of an issue.
There is also the other Currencies that were used before the newer ones was published so there is plenty of fiat to go around if the price does get to $10,000 per coin.

Crypto's will never replace fiat even bitcoin reach high value. Fiat circulatingall over the world is very huge amount compared to the total volume bitcoin available, unless bitcoin will be accepted by the government, then there is possibility to replace by bitcoin so that their will be 1 currency on the world and easy to trade

Yes that is true, because cryto is based on bitcoin price, whether bitcoin price is drop the altcoin will high of course and it will be the same thing too on bitcoin which is based on dollars too. And btw why do you think that bitcoin will be accepted by government? I do not think they can even control it if they have all their tech

But the value of fiat doesn't move that much. So it's not exactly the same with the if bitcoin increases, altcoin decreases scenario. There are also some coins that don't depend solely on the price of bitcoin like ETH. Most major coins are like this. You can trade it to BTC or to USD but the rest of the altcoin family are just traded to BTC.

[roadbits]

For me, even bitcoin price will hit this big price fiat will still not be worthless. Fiat is still the main currency all over the world. Even bitcoin continously increasing users still into use to cashout using fiat. It will not be worthless, though.

You are right fiat will never become worthless in the real world. Without fiat currency, we can not run any business in the world. Bitcoin is becoming more popular in the dark web but not in real world. If the price of the Bitcoin reach $10,000 and still the Bitcoin is illegal currency in all country, then it is no use. First, the Bitcoin want to become a legal currency in all country later we it may be happening.

[gabmen]

For me, even bitcoin price will hit this big price fiat will still not be worthless. Fiat is still the main currency all over the world. Even bitcoin continously increasing users still into use to cashout using fiat. It will not be worthless, though.

You are right fiat will never become worthless in the real world. Without fiat currency, we can not run any business in the world. Bitcoin is becoming more popular in the dark web but not in real world. If the price of the Bitcoin reach $10,000 and still the Bitcoin is illegal currency in all country, then it is no use. First, the Bitcoin want to become a legal currency in all country later we it may be happening.

yeah both you are right. Fiat is not dependent on the price of btc and in fact, it would be the other way around. If fiat crashes, then we may see effects on btc but bitcoin's price will not have any dent on fiat at all.

[Harlot]

For me, even bitcoin price will hit this big price fiat will still not be worthless. Fiat is still the main currency all over the world. Even bitcoin continously increasing users still into use to cashout using fiat. It will not be worthless, though.

You are right fiat will never become worthless in the real world. Without fiat currency, we can not run any business in the world. Bitcoin is becoming more popular in the dark web but not in real world. If the price of the Bitcoin reach $10,000 and still the Bitcoin is illegal currency in all country, then it is no use. First, the Bitcoin want to become a legal currency in all country later we it may be happening.

yeah both you are right. Fiat is not dependent on the price of btc and in fact, it would be the other way around. If fiat crashes, then we may see effects on btc but bitcoin's price will not have any dent on fiat at all.

Yes you even have valued Bitcoin via Fiat currency which is "10000$" showing that fiat still has value. Besides if Fiat Currency would be worthless what will the value of Bitcoin be? You guessed it right there would be no value to Bitcoin too, because Fiat and Bitcoin has a direct relationship when it comes to price. As Bitcoin depends heavily on Fiat to have value.

[bep42]

For me, even bitcoin price will hit this big price fiat will still not be worthless. Fiat is still the main currency all over the world. Even bitcoin continously increasing users still into use to cashout using fiat. It will not be worthless, though.

You are right fiat will never become worthless in the real world. Without fiat currency, we can not run any business in the world. Bitcoin is becoming more popular in the dark web but not in real world. If the price of the Bitcoin reach $10,000 and still the Bitcoin is illegal currency in all country, then it is no use. First, the Bitcoin want to become a legal currency in all country later we it may be happening.

yeah both you are right. Fiat is not dependent on the price of btc and in fact, it would be the other way around. If fiat crashes, then we may see effects on btc but bitcoin's price will not have any dent on fiat at all.

Yes you even have valued Bitcoin via Fiat currency which is "10000$" showing that fiat still has value. Besides if Fiat Currency would be worthless what will the value of Bitcoin be? You guessed it right there would be no value to Bitcoin too, because Fiat and Bitcoin has a direct relationship when it comes to price. As Bitcoin depends heavily on Fiat to have value.

That's right. If fiat will completely worthless, then what will the value of Bitcoin? Fiat always Fiat even Bitcoin will grow that much higher, nothing can be changed so fiat will not be worthless actually there no matter how high the price of bitcoin will.

Even if bitcoin reaches to the moon then also fiat will always be valuable as people will convert their bitcoins to fiat to have more amount of fiat in their hands so I don't think that fiat is going anywhere and it will always survive even in future.

[lordquanta]

For me, even bitcoin price will hit this big price fiat will still not be worthless. Fiat is still the main currency all over the world. Even bitcoin continously increasing users still into use to cashout using fiat. It will not be worthless, though.

You are right fiat will never become worthless in the real world. Without fiat currency, we can not run any business in the world. Bitcoin is becoming more popular in the dark web but not in real world. If the price of the Bitcoin reach $10,000 and still the Bitcoin is illegal currency in all country, then it is no use. First, the Bitcoin want to become a legal currency in all country later we it may be happening.

yeah both you are right. Fiat is not dependent on the price of btc and in fact, it would be the other way around. If fiat crashes, then we may see effects on btc but bitcoin's price will not have any dent on fiat at all.

exactly, those who think bitcoin will make fiat currency worthless itself is contradictory. Fiat currency was there and will continue to exist. In fact fiat currency (paper or plastic or virtual) is in fact means of controlling masses. Bitcoin on the other hand need its acceptance against fiat. Imagine a scenario where a country or bunch of countries banned bitcoin or cryptocurrency. This will make bitcoin worthless in that country. If bitcoin reaches 10k$ mark then there is quite good chance of other crypto will get chance as affordable. Most of crypto market is still concentrated with few people.

[South Park]

Much mlre votes for NO, and little contradiction how can bitcoin worth 10 000 dollars when dollar is worthless, how you imagine that to happen?
Fiat will be present for many more years, just some world revolution can end dollar domination, and bitcoin is good start for that revolution, but many more things has to be done to come to that.

It is not precisely a contradiction I think the OP meant that if bitcoin was worth 10k dollars then that will probably mean that the dollar is under hyperinflation but the truth is that bitcoin could reach that value by just reaching more adoption.

[D05GTO]

Much mlre votes for NO, and little contradiction how can bitcoin worth 10 000 dollars when dollar is worthless, how you imagine that to happen?
Fiat will be present for many more years, just some world revolution can end dollar domination, and bitcoin is good start for that revolution, but many more things has to be done to come to that.

It is not precisely a contradiction I think the OP meant that if bitcoin was worth 10k dollars then that will probably mean that the dollar is under hyperinflation but the truth is that bitcoin could reach that value by just reaching more adoption.

Anything is possible with bitcoins in future but to see that high price we have to wait for so many years and if it reaches there I don't think that people will stop using fiat as even at that time there will be many people who will not be aware about bitcoins.

[danherbias07]

Much mlre votes for NO, and little contradiction how can bitcoin worth 10 000 dollars when dollar is worthless, how you imagine that to happen?
Fiat will be present for many more years, just some world revolution can end dollar domination, and bitcoin is good start for that revolution, but many more things has to be done to come to that.

It is not precisely a contradiction I think the OP meant that if bitcoin was worth 10k dollars then that will probably mean that the dollar is under hyperinflation but the truth is that bitcoin could reach that value by just reaching more adoption.

Anything is possible with bitcoins in future but to see that high price we have to wait for so many years and if it reaches there I don't think that people will stop using fiat as even at that time there will be many people who will not be aware about bitcoins.

Yes time will tell and also if people who are supporting it can take all the risk that it gives considering many would want to fight that number 1 spot or take over bitcoin.
We can see it happening now, and as long as it is on the top more will come. This test to how much we will have faith into making bitcoin the prior currency will be the final act when it reaches that very large price.

[Ducky1]

Much mlre votes for NO, and little contradiction how can bitcoin worth 10 000 dollars when dollar is worthless, how you imagine that to happen?
Fiat will be present for many more years, just some world revolution can end dollar domination, and bitcoin is good start for that revolution, but many more things has to be done to come to that.

It is not precisely a contradiction I think the OP meant that if bitcoin was worth 10k dollars then that will probably mean that the dollar is under hyperinflation but the truth is that bitcoin could reach that value by just reaching more adoption.

Anything is possible with bitcoins in future but to see that high price we have to wait for so many years and if it reaches there I don't think that people will stop using fiat as even at that time there will be many people who will not be aware about bitcoins.

Yes time will tell and also if people who are supporting it can take all the risk that it gives considering many would want to fight that number 1 spot or take over bitcoin.
We can see it happening now, and as long as it is on the top more will come. This test to how much we will have faith into making bitcoin the prior currency will be the final act when it reaches that very large price.

Price is the major factor that will draw attention of many people in future and will attract them to get into the bitcoin world and if price crashes in future then I doubt that there will be many people who will show interest in bitcoins in fact many existing users will also quit bitcoins.

[ekaterina77]

Much mlre votes for NO, and little contradiction how can bitcoin worth 10 000 dollars when dollar is worthless, how you imagine that to happen?
Fiat will be present for many more years, just some world revolution can end dollar domination, and bitcoin is good start for that revolution, but many more things has to be done to come to that.

It is not precisely a contradiction I think the OP meant that if bitcoin was worth 10k dollars then that will probably mean that the dollar is under hyperinflation but the truth is that bitcoin could reach that value by just reaching more adoption.

Anything is possible with bitcoins in future but to see that high price we have to wait for so many years and if it reaches there I don't think that people will stop using fiat as even at that time there will be many people who will not be aware about bitcoins.

Yes time will tell and also if people who are supporting it can take all the risk that it gives considering many would want to fight that number 1 spot or take over bitcoin.
We can see it happening now, and as long as it is on the top more will come. This test to how much we will have faith into making bitcoin the prior currency will be the final act when it reaches that very large price.

Price is the major factor that will draw attention of many people in future and will attract them to get into the bitcoin world and if price crashes in future then I doubt that there will be many people who will show interest in bitcoins in fact many existing users will also quit bitcoins.

I completely agree with your words. If still a small percentage of users will distinguish and that will be good. But this figure will not be huge. The fact is that bitcoin will not be perceived by most of humanity. And it's not the bitcoin itself, but the fact that people are accustomed to paper money.

[rickadone]

Much mlre votes for NO, and little contradiction how can bitcoin worth 10 000 dollars when dollar is worthless, how you imagine that to happen?
Fiat will be present for many more years, just some world revolution can end dollar domination, and bitcoin is good start for that revolution, but many more things has to be done to come to that.

It is not precisely a contradiction I think the OP meant that if bitcoin was worth 10k dollars then that will probably mean that the dollar is under hyperinflation but the truth is that bitcoin could reach that value by just reaching more adoption.

Anything is possible with bitcoins in future but to see that high price we have to wait for so many years and if it reaches there I don't think that people will stop using fiat as even at that time there will be many people who will not be aware about bitcoins.

Yes time will tell and also if people who are supporting it can take all the risk that it gives considering many would want to fight that number 1 spot or take over bitcoin.
We can see it happening now, and as long as it is on the top more will come. This test to how much we will have faith into making bitcoin the prior currency will be the final act when it reaches that very large price.

Price is the major factor that will draw attention of many people in future and will attract them to get into the bitcoin world and if price crashes in future then I doubt that there will be many people who will show interest in bitcoins in fact many existing users will also quit bitcoins.

I completely agree with your words. If still a small percentage of users will distinguish and that will be good. But this figure will not be huge. The fact is that bitcoin will not be perceived by most of humanity. And it's not the bitcoin itself, but the fact that people are accustomed to paper money.

It is not about the money, it is a matter of priority and how people are exchanging money, if you go and ask a random person on the street about bitcoin they won’t know what it is, because people don’t use it they are using fiat because the government leaves them no other choice and if you live in society than you have to go with the rules to survive.