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

[batang_bitcoin]

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?

Yes fiat is still needed even the price of bitcoin will reach this high amount. And the world is still depending to fiat money so fiat will always be fiat. And no matter what happens bitcoin will be worth it and fiat is worth it too. And the example you have given is very obvious that everything are depending to fiat until now.

[btccashacc]

Whatever happen in this world cash will exist, it will never be worthless even if bitcoin price skyrocket. We all know that bitcoin is not supported by the government this is why bitcoin will never beat the cash. I personally think that the government will do their best to protect their official currency, banning bitcoin for example. On the other hand bitcoin is not ready to be adopted widely due to the confirmation time is very long. Bitcoin is perfect as an investment tool that's why government in some countries treat it as stock like gold,oil etc.

[CuriousGeorge]

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?

Fiat is everything for our real life, The price of bitcoin pegged with fiat currency. the high price of bitcoin price just give an effect to make more domination for the decimal value of bitcoin into the fiat currency and it will never be worthless.

[Schuyler]

Just last year, I was having doubts as to whether bitcoin can even hit four digits by 2017. And look where we are now, and at the rate things are going, $10,000 doesn’t seem to be too far in the future. Whatever the case, that won’t make fiat worthless because bitcoin is it considered by many more as an investment rather than a currency. Fiat is fiat and will remain to be the primary currency that will be used because of the governments behind each currency.

[RealPhotoshoper]

Just last year, I was having doubts as to whether can hit even four digits by 2017. And look where we are now, and at the rate we are going, $10,000 doesn’t seem to be too far in the future. But that won’t make fiat worthless because bitcoin is it considered by many more as an investment rather than a currency. Fiat is fiat and will remain to be the primary currency that will be used because of the governments behind each currency.

Bitcoin always give us an unexpected surprise , when people start doubting bitvoin and it show off.
$10,000 seems really reasonable gor next stop target.
just the matter what factor could drive it there later? A step by step to mass adoption might be one of many rrasons.

[stadus]

Just last year, I was having doubts as to whether can hit even four digits by 2017. And look where we are now, and at the rate we are going, $10,000 doesn’t seem to be too far in the future. But that won’t make fiat worthless because bitcoin is it considered by many more as an investment rather than a currency. Fiat is fiat and will remain to be the primary currency that will be used because of the governments behind each currency.

Bitcoin always give us an unexpected surprise , when people start doubting bitvoin and it show off.
$10,000 seems really reasonable gor next stop target.
just the matter what factor could drive it there later? A step by step to mass adoption might be one of many rrasons.

Let's see what will happen to fiat when the price hits $10,000, it's going to happen soon as we are approaching the $3,000, if we will get that before the end of this month, there is a big chance it will happen before the end of this year, stay optimistic guys, big reward is coming but fiat will stay worthy.

[malami]

Just last year, I was having doubts as to whether can hit even four digits by 2017. And look where we are now, and at the rate we are going, $10,000 doesn’t seem to be too far in the future. But that won’t make fiat worthless because bitcoin is it considered by many more as an investment rather than a currency. Fiat is fiat and will remain to be the primary currency that will be used because of the governments behind each currency.

Bitcoin always give us an unexpected surprise , when people start doubting bitvoin and it show off.
$10,000 seems really reasonable gor next stop target.
just the matter what factor could drive it there later? A step by step to mass adoption might be one of many rrasons.

Let's see what will happen to fiat when the price hits $10,000, it's going to happen soon as we are approaching the $3,000, if we will get that before the end of this month, there is a big chance it will happen before the end of this year, stay optimistic guys, big reward is coming but fiat will stay worthy.

Yeah fiat will always have its place, not the least offline transactions and besides bitcoin is priced in fiat, not the other way around.

[Hypnosis00]

Fiat will not be worthless because if it will become worthless then bitcoin will become worthless too because it is only depending on the fiat based on its price. Fiat will not become worthless even bitcoin reach $100,000 price because bitcoin doesn't affect the fiat and fiat will be always fine.

[matuson]

Fiat may lose its relevance. Now we see a massive inflation of Fiat and continuous deflation of bitcoin. Fiat can turn into a way of confirming the transaction between the person and the state in all other cases, people can trade using bitcoin. This can destroy the economy of any country.

[AK47-]

I don't think that with the rise in the price of bitcoin, fiat will become worthless. As for now fiat is needed. Bitcoin can not alone sustain this whole world. I believe bitcoin will keep on coexisting with fiat.

[deisik]

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?

I don't know about others but I don't see your point

If fiat becomes worthless, banks as well as other similar financial institutions may certainly become useless, but what does it have to do with the price of tea in China? That is, with bitcoins? Moreover, if fiat becomes worthless and dies tomorrow, banks may just jump right into Bitcoin, so your basic premise itself may be wrong. If Bitcoin reaches 10k dollars, that will be just that, i.e. 10k dollars per coin. A single share of Warren Buffett's Berkshire Hathaway costs over 200k dollars (so we still have a lot of room to expand into), but does it mean that it will be useless and worthless without fiat?

[2double0]

I think that fiat is needed there as it is paper money and had been there from traditions and been used by everyone, known since earlier times. It's currently a source of valuation for Bitcoins as well as everything that can be bought, sold or traded so I would say we still need fiat in order to have the balance between everything.

[STT]

bitcoin will become worthless too because it is only depending on the fiat based on its price

This is not how it works anywhere outside the goldfish bowl your view of the world is contained in.   Its natural to think of everything in dollars or your own countries currency but they do not determine value.     The real value of food is that it keeps you alive, the price is secondary not what gives it worth.    If dollars are zero you require other capital to buy food, you will have to barter for your petrol and you will also find bitcoin still has some purpose and so value will be demanded by holders.

 How you pay for bitcoin when dollars are dead is a mystery perhaps but we have other nations who produce goods and operate currency without dollar.   There will still be some exchange.  In general its not good when dollars are suffering failure, it means trade suffers and I imagine bitcoin value could go down but it wont be zero so long as bitcoin protocol keeps integrity and has a use.

The main purpose for dollars is to pay taxes to USA, the most powerful government in the world.  Thats why its a big deal and why its become a political currency, it isnt even based off trade and national produce half as much.   Bitcoin has to be useful because it has no force otherwise, its arbitrage between two points, mostly we see China to USA but if USA falls it will be enough that it can used elsewhere

[m1c0]

I think fiat will still exist in the next decades, but bitcoin is taking more and more share of it.
For me bitcoin is way more a resource like gold than fiat money, because it is limited and generated by computing power
while fiat is just printed out depending on the inflation

[ktabb]

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

$10k would give it a market cap of like $250 billion or so? This is peanuts for a currency. Fiat would still dominate.

[wahb]

I don't think that with the rise in the price of bitcoin, fiat will become worthless. As for now fiat is needed. Bitcoin can not alone sustain this whole world. I believe bitcoin will keep on coexisting with fiat.

yes i also think so that the increasing price of bitcoin can make fiat worthless. i think fiat can only be worthless if the users of bitcoin are increasing and bitcoin is facilitating them more that fiat then people will stop using fiat and will give more preference to bitcoin. but to me i think it will take some more time, because currently bitcoin is not providing us such facilities that fiat can provide us, therefore fiat is not going to worthless for some more time.

[deisik]

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

$10k would give it a market cap of like $250 billion or so? This is peanuts for a currency. Fiat would still dominate.

Price as such is irrelevant

If the US dollar disappears tomorrow and Bitcoin gets no longer priced in it, does it mean that 1) Bitcoin disappears too since this is what claims of many folks around here come down to, 2) Bitcoin price in dollars will be equal to infinity, or 3) Bitcoin price in dollars is then equal to zero? The correct answer is neither of these three options, and it can be easily found if you follow from the premise that Bitcoin is a currency in its own right (even if it is not used much as such as of today)

[Ashong Salonga]

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

I disagree with that statement. Price of digital currency coin aboslutely don't affect fiat money as we can see, that price of currency doesn't matter in the market in order to determine it it's valuable to be used as means of payment. For the evidence, bitcoin started at cents and now it's thousand dollars worth and we see that devaluation in fiat money doesn't occured with the cause of bitcoin's inflation.

[ASHLIUSZ]

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

I disagree with that statement. Price of digital currency coin aboslutely don't affect fiat money as we can see, that price of currency doesn't matter in the market in order to determine it it's valuable to be used as means of payment. For the evidence, bitcoin started at cents and now it's thousand dollars worth and we see that devaluation in fiat money doesn't occured with the cause of bitcoin's inflation.

Bitcoin won't go worthless however​ high the price gets reached. As it's a speculative currency the price variation happens without the support from any central authority. Fiat will always serve as the primary currency and based on the price increase happening with bitcoin it gets used in different sectors.

[ipungadhi]

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

$10k would give it a market cap of like $250 billion or so? This is peanuts for a currency. Fiat would still dominate.

To make the price as high as it is certainly marketcap or volume in the bitcoin market must be really huge. I do not know how many users need. The important thing it must require a large demand.