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

[Chikito]

may not fiat worthless if bitcoin has a $ 10,000 price. bitcoin valuable because a fiat currency, like gold if the price memilika 1grams / 10000 $, whether worthless fiat currency? , Measuring bitcoin precious or not also with fiat currencies. so a mere joke when people say worthless fiat currencies if bitcoin worth $ 10,000.

[RealPhotoshoper]

I wont but the problem with those people that only come to bitcoin for the price is they will switch immediately to any other coin that promises them the possibility of earning bigger amounts of money in the shortest time frame possible, they are not in bitcoin in the long term.

Just let it that way and I don't see majority of all bitcoin users are like that.

Also it's not wrong to get some opportunities to earn in other alt since traders always like that and even happening in physical assets of trades even prior to the existence of cryptocurrency. And to add for that, there is low chance that all whales and bitcoin bagholders (I said ALL meaning 100%) will goes into diversifying tactics just to earn side income with other alts.

I don't even know if people will be more excited to hold and use bitcoin or just scare because of the giant price.
$10,000 is soundslike delusional , but i believe nothing impossible so let's say it will happened in the future.
fiat should have no problem at all as i think people will still need it .

[BeGoods]

no, even if the price of bitcoin was around 10k the market cap would still be max 210 billion which is still extremely small in the grand scheme of things.

its true, but it is possible that people in the world can get a bitcoin each person. maybe some satoshi for each person right ?

[deisik]

No I don't agree.The reason is that Bitcoin can reach that value pretty fast and the circunstances why this happens could be so different.
Fiat will still be around in decades!A success for Bitcoin in terms of value in fiat doesn't have to be connected with losing value of fiat.
Let's just some of the gold holders switch over to Bitcoin, online gaming, gambling, foreign remittances and e-commerce use Bitcoin in a larger magnitude and boom you have your $10k BTC.Euro, Dollar, Yen, Yuan etc will still be around and used by general public.

i agree with you, although bitcoin was worth $ 10,000, fiat will remain the world's financial foundation.

I agree with you. Regardless of what price will be at bitcoin, it will never become the main currency. After all, the government will not accept a cryptocurrency as its national currency

I beg to differ. The price of bitcoin, especially when it's around 10k USD, is the indicator that people are using bitcoins and merchants are accepting bitcoins. Let's say the price of bitcoin is already at 100k USD (hypothetically), then that means huge investors, businessmen, and large companies have already entered the game. Almost everyone is starting to become a bitcoin user. This will destroy the government's taxation since they cannot collect any.

At that point, bitcoin is already the main currency. It might not be a regulated and government owned/issued currency, but it is the main currency because everyone's using it.

In fact, there is no such relationship

And you can't actually draw such conclusions. All what you could plausibly claim in that hypothetical case is that the balance of demand and supply found a new equilibrium at that price (provided it is more or less consistent, of course). But you could get there either by demand exponentially expanding (this is one thing) and via supply contracting (this is a completely different thing). In the latter case, you can't possibly claim that there is even a slightest increase in the numbers of "huge investors, businessmen, and large companies" interested in Bitcoin. In reality, the total number of investors could actually decline but just get offset by the stronger supply squeeze. Even in the former case (i.e. when demand expands), it is not given either that new investors (businessmen and large companies) are entering Bitcoin and not "old" holders just adding more bitcoins to their stashes

[bncbnc]

may not fiat worthless if bitcoin has a $ 10,000 price. bitcoin valuable because a fiat currency, like gold if the price memilika 1grams / 10000 $, whether worthless fiat currency? , Measuring bitcoin precious or not also with fiat currencies. so a mere joke when people say worthless fiat currencies if bitcoin worth $ 10,000.

yes that can be right that fiat is not going to worthless at any case. i think it can only be worthless if the users of bitcoin will increase more and more.

[Oo ako to]

In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?

No. There still a lot of people that  dont have access on technologies so it means they  will still depend on fiat currency. The main requirements if you want to use bitcoin is computer literacy and internet.

[Fidemoga]

In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?

No. There still a lot of people that  dont have access on technologies so it means they  will still depend on fiat currency. The main requirements if you want to use bitcoin is computer literacy and internet.

For the big transactions, people will use the bitcoin.

[aakashsangwan]

In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?

No. There still a lot of people that  dont have access on technologies so it means they  will still depend on fiat currency. The main requirements if you want to use bitcoin is computer literacy and internet.

For the big transactions, people will use the bitcoin.

Well I don't believe your idea, people are still skeptical about the bitcoin and many still think of it as an online currency used for buying illicit things on dark web and also think that their money is not safe in bitcoins as compared to the traditional fiat, even though they have to pay more fees using the fiat.

[BitcoinGirl.Club]

Bitcoin getting to such high prices is most likely going to seize being a digital currency

because it wont have so much demand as its enjoying perhaps becoming a trade-able asset would fit in nicely to keep prices moving leaving fiat untouched

[italianobitcoin]

There is a big use for fiat hence it will not become useless or worthless. This will not change i expect.
In time plastic cards and phones will take over a large cap of the transaction, but no matter how much bitcoin rises, the use case is still there.

[jossiel]

There is a big use for fiat hence it will not become useless or worthless. This will not change i expect.
In time plastic cards and phones will take over a large cap of the transaction, but no matter how much bitcoin rises, the use case is still there.

Fiat will always be the preferred medium or currency by the government because it is considered by many citizens.

And all of us are using it for a lot of years already, I don't know if that is already a century, lesser or more than from now on.

There's just one thing that I'm thinking when the price of bitcoin will reach $10k, many bitcoin users will become rich.

[Japinat]

There is a big use for fiat hence it will not become useless or worthless. This will not change i expect.
In time plastic cards and phones will take over a large cap of the transaction, but no matter how much bitcoin rises, the use case is still there.

The price is currently above $2,000 and we are near to the amount you mentioned, I am pretty sure we can achieve that in years to come but what I notice the value of FIAT does not change any nor become worthless. In fact, more circulation of fiat will happen as a lot of people who are into bitcoin will start buying more due to the good performance of bitcoin.

[angaper]

The current Bitcoin price is increasing so quickly that it seems perfectly possible to see that price this same year, but this rally to sky seems so artificial and speculative that I don't think it can affect the dollar value in anyway.

[Sled]

The current Bitcoin price is increasing so quickly that it seems perfectly possible to see that price this same year, but this rally to sky seems so artificial and speculative that I don't think it can affect the dollar value in anyway.

I doubt that, the price of bitcoin will just be stable at $2,000 and it is very impossible for the price to reach that point because it will take another year or 2 years for the price to reach that because the demand and support in the market is not yet enough for that target price but the sure thing is, it will surely reach that soon.

[gabmen]

The current Bitcoin price is increasing so quickly that it seems perfectly possible to see that price this same year, but this rally to sky seems so artificial and speculative that I don't think it can affect the dollar value in anyway.

I doubt that, the price of bitcoin will just be stable at $2,000 and it is very impossible for the price to reach that point because it will take another year or 2 years for the price to reach that because the demand and support in the market is not yet enough for that target price but the sure thing is, it will surely reach that soon.

dude we've well breached the 2k mark and still rapidly rising. though I personally think 10k is still farfetched, I don't it would affect the fiat in any way. or maybe very minimal that it reslly won't be felt by regular people. the fiat rarely is reactive to what's going in in the online world.

[Azurecde]

the price is 2300 now and it is very difficult to send btc , it is taking lot of time to send ,

imagine what will happen if the price went to 10k

and it wont effect fiat , because even if you have 10k btc , you have to exchange it to some of the other fiat only

[wuvdoll]

Bitcoin getting to such high prices is most likely going to seize being a digital currency

because it wont have so much demand as its enjoying perhaps becoming a trade-able asset would fit in nicely to keep prices moving leaving fiat untouched

Yes I agree and there may be a fear of the misbalancing of the society. I don’t think that the fiat can that easily be vanished from the screen. It will take centuries to the bitcoin to reach up to such a level. I think it will take centuries to educate the world to the technology.

[Sled]

Bitcoin getting to such high prices is most likely going to seize being a digital currency

because it wont have so much demand as its enjoying perhaps becoming a trade-able asset would fit in nicely to keep prices moving leaving fiat untouched

Yes I agree and there may be a fear of the misbalancing of the society. I don’t think that the fiat can that easily be vanished from the screen. It will take centuries to the bitcoin to reach up to such a level. I think it will take centuries to educate the world to the technology.

Even centuries is not enough for bitcoin to reach to the point that it is just like the regular money because bitcoin will not last for a century because of its supply and temporary activeness because soon the mining difficulty will be max and it will be hard for the people mostly average people to get bitcoin so it is not practical anymore to use bitcoin.

[riphunter]

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?

[n0ne]

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?

In one form or other bitcoin has dependence upon fiat. So as said fiat won't go useless based on the price increase happening with bitcoin. Fiat always serve as the primary operating economic system. In reality even the current price of bitcoin is high for which fiat haven't got any decline in value.