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

[Maslate]

Love the topic and replies! My 2 cents - probably no unless infrastructure/ecosystem is built (or lets say available for regular people) for btc payments so anyone easily can pay with btc instead using visa, master etc.

You got a point here, unless the system change, fiat will never be worthless.  It requires changes in financial structure to make fiat worthless and not just the price of bitcoin.  Even if bitcoin reaches trillion dollar price as long as the finance system does not change, it will never make fiat worthless.

I love to see the price rise that big but I don't think it will make fiat worthless, in fact I think it will also help fiat
to increase its circulation as due to bitcoin transactions will be faster.

[rahmat92]

Although bitcoin will become a global payment tool but I think the paper money circulating now will not collapse as you think
Because until now not everyone is familiar with bitcoin

[batang_bitcoin]

Although bitcoin will become a global payment tool but I think the paper money circulating now will not collapse as you think
Because until now not everyone is familiar with bitcoin

It will never collapse as it is what everyone has been using. And even the big value of bitcoin will be reached at any moment from now. Fiat will still be used by most of us. As in this generation cash is still the main currency of everyone though there is bitcoin both will be important to all of us but for fiat users, I don't think bitcoin is.

[mrcash02]

Although bitcoin will become a global payment tool but I think the paper money circulating now will not collapse as you think
Because until now not everyone is familiar with bitcoin

It will never collapse as it is what everyone has been using. And even the big value of bitcoin will be reached at any moment from now. Fiat will still be used by most of us. As in this generation cash is still the main currency of everyone though there is bitcoin both will be important to all of us but for fiat users, I don't think bitcoin is.

I can only imagine fiat worthless in a very far away future where technology rules all the world and not like now, because some places are still very primitive like the old times. And I think very important to have fiat and Crypto-Currency separated, each one on its area, what means countries will continue with their own currency, but letting people use Bitcoin if they want.

[Reid]

Although bitcoin will become a global payment tool but I think the paper money circulating now will not collapse as you think
Because until now not everyone is familiar with bitcoin

And not just that. Fiat system is still the easiest way to trade physically.
Not all have the technology like a smartphone which happens to be needed if you want to trade with bitcoin.
Also we needed internet at many times and not all can afford it like that.
They would rather use that money for food and shelter rather than use it to pay internet rentals or bills.
It is not going to be dissolved in many years to come.

[freeyourmind]

There are many factors that artificially increase the demand of fiat.  Most salaries are paid in the national currency, without an opportunity to switch to a cryptocurrency unless you own your own business.  Store accept national currency, taxes must be paid in the national currency.  USA forces the world to purchase oil only in US dollars.  These things stabilize fiat currencies through forced transactions.  At best, cryptocurrencies will be an alternative that runs alongside fiat currencies.  All special interests and the banking cartel that benefit from a central bank will stand in the way of cryptos taking over and rendering fiat worthless.  As inflationary fiat currencies though, they will always continue to be devalued with time.

[Sled]

Although bitcoin will become a global payment tool but I think the paper money circulating now will not collapse as you think
Because until now not everyone is familiar with bitcoin

Bitcoin will stay and paper money will stay also, there is nothing to worry about being worthless of either bitcoin or paper money because both of them are useful and worth it in their unique characteristic and advantages. Like bitcoin is good for transactions which is cheaper than fiat and also fiat is good because of its stability.

[batang_bitcoin]

Although bitcoin will become a global payment tool but I think the paper money circulating now will not collapse as you think
Because until now not everyone is familiar with bitcoin

It will never collapse as it is what everyone has been using. And even the big value of bitcoin will be reached at any moment from now. Fiat will still be used by most of us. As in this generation cash is still the main currency of everyone though there is bitcoin both will be important to all of us but for fiat users, I don't think bitcoin is.

I can only imagine fiat worthless in a very far away future where technology rules all the world and not like now, because some places are still very primitive like the old times. And I think very important to have fiat and Crypto-Currency separated, each one on its area, what means countries will continue with their own currency, but letting people use Bitcoin if they want.

I can't remove the fact that there are a lot of people that are not ready for an advancement and adoption of technology. That's why it will always be the reason that they will not do an instant adoption of technology and will just simply replace fiat by another digital money or something like that, fiat will always be our money no matter what upgrade will be there.

[umbara ardian]

Bitcoin will not be able to replace paper currency, it will never happen.

[gabmen]

Bitcoin will not be able to replace paper currency, it will never happen.

not at all. I think if btc price would affect fiat, we would've seen some reaction when btc made a good run this past week. btc is now more on the investment side rather than to considered as a currency to challenge the fiat. even if the price goes to the moon, fiat would still be fiat and if ever there's going to be an effect,it probably would just be minimal and ignorable

[Tyrantt]

Bitcoin will not be able to replace paper currency, it will never happen.

not at all. I think if btc price would affect fiat, we would've seen some reaction when btc made a good run this past week. btc is now more on the investment side rather than to considered as a currency to challenge the fiat. even if the price goes to the moon, fiat would still be fiat and if ever there's going to be an effect,it probably would just be minimal and ignorable

Fiat is backed by big international banks and reserves and there is absolutely no way that the bitcoin can replace fiat in any time, also bitcoin isn't something that they can manipulate that easily.

So even if the price of Bitcoin is 1m it's still not going to replace fiat.

[stompix]

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. I don't agree to your statement. Fiat currency will not become worthless in this world and the bitcoin will never surpass the fiat currency.

Bitcoin surpassed fiat, the thing is,  bitcoin will not make fiat worthless, the topic answered the question itself, if bitcoin is $10000, with that, why would fiat be worthless? without fiat, there will be no bitcoin because it will have no price. And bitcoin is not accepted by many stores, so we still need to convert our bitcoins to fiats and use that fiats to buy what we need.

When did that happened?
Probably I was asleep, can you get me the newspaper with the breaking news?

How can you compare and how can you determine that one of them bitcoin or fiat has surpassed the other?

Market cap? Usage? Number of users?

And PS.
There is fiat money not fiats.
Converting your money to fiats means buying a lot of shitty cars.

[agentx44]

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

Of course not. Price of one crpyto currency coin doesn't have an impact in foreign currency since it doesn't have relativity in the progression/economy of one country. Fiat money won't be worthless regardless if the crypto currency is too much valuble in the market since it supports crypto currency.

[choppork]

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

Of course not. Price of one crpyto currency coin doesn't have an impact in foreign currency since it doesn't have relativity in the progression/economy of one country. Fiat money won't be worthless regardless if the crypto currency is too much valuble in the market since it supports crypto currency.

Let's say bitcoin price is 1 million dollars (since you said even when it becomes too valuable), do you think that people are still using fiat at that time? Maybe, maybe not? Maybe the two things just continued to co-exist but surely fiat has become worthless to those that have migrated to using bitcoins. At that point, merchants are obviously already accepting bitcoins and people are more into buying and ordering things online.

Fiat will always be precious to those that use it and don't know how to use bitcoins. And bitcoins will always be precious to those that are already using it. This is where the digital divide comes in. Basically what it says is that there's a technological and/or economical gap between the members of the society. Ones that have an access to the Internet, and one that doesn't. The former will eventually adopt to using bitcoins (assuming that bitcoin continues to grow) while the latter will just use fiat until they finally have access to the Internet.

[radamiel]

That will never happen fiat will dependably demonstrate its nearness even in future and till the time Government will have their control on a nation fiat will dependably exist as Government will never enable any computerized money to supplant their national cash.

[asriloni]

Bitcoin will not be able to replace paper currency, it will never happen.

not at all. I think if btc price would affect fiat, we would've seen some reaction when btc made a good run this past week. btc is now more on the investment side rather than to considered as a currency to challenge the fiat. even if the price goes to the moon, fiat would still be fiat and if ever there's going to be an effect,it probably would just be minimal and ignorable

Fiat is backed by big international banks and reserves and there is absolutely no way that the bitcoin can replace fiat in any time, also bitcoin isn't something that they can manipulate that easily.

So even if the price of Bitcoin is 1m it's still not going to replace fiat.

Fiat is backed by all of the countries around the world. The bank has important role for the government, My thought it the banks are be able to drive the government. Bitcoin will never replace fiat but just give a possibility to make a transaction around the world.

[stompix]

Let's say bitcoin price is 1 million dollars (since you said even when it becomes too valuable), do you think that people are still using fiat at that time? Maybe, maybe not? Maybe the two things just continued to co-exist but surely fiat has become worthless to those that have migrated to using bitcoins. At that point, merchants are obviously already accepting bitcoins and people are more into buying and ordering things online.

Nope fiat hasn't become worthless even in your example.
You can still buy 1 btc with 1 million usd.

Fiat will become worthless when you're going to pay 2 satoshi for a bread, 1 mbtc for a trip or 1 btc for a house.

Until then, while the price of btc is still measured in $ , $ can't be worthless.

[Visin]

If Bitcoin actually went up to $10,000 or even over it then I would state that it would be much too expensive to purchase it though I think that it depends on how much the statistic shows how many people are using the coin for holding or not. If the price of Bitcoin is at $10,000 and a person gets dumped on and the price drops down to $500 then you could easily see that invest Bitcoin at that time would be a waste of money.

[EdenHazard]

Let's say bitcoin price is 1 million dollars (since you said even when it becomes too valuable), do you think that people are still using fiat at that time? Maybe, maybe not? Maybe the two things just continued to co-exist but surely fiat has become worthless to those that have migrated to using bitcoins. At that point, merchants are obviously already accepting bitcoins and people are more into buying and ordering things online.

Nope fiat hasn't become worthless even in your example.
You can still buy 1 btc with 1 million usd.

Fiat will become worthless when you're going to pay 2 satoshi for a bread, 1 mbtc for a trip or 1 btc for a house.

Until then, while the price of btc is still measured in $ , $ can't be worthless.

really hard to imagine about how fiat could disappeared and worthless just because bitcoin grow up so high . i think there is nothing happened when bitcoin price hit $2,500 few days ago , so does then if the bitcoin price hit $10,000 or even higher .

a lot of people still need and use fiat more than people who use bitcoin, unless the situation about this changed drastically.

[Sled]

Let's say bitcoin price is 1 million dollars (since you said even when it becomes too valuable), do you think that people are still using fiat at that time? Maybe, maybe not? Maybe the two things just continued to co-exist but surely fiat has become worthless to those that have migrated to using bitcoins. At that point, merchants are obviously already accepting bitcoins and people are more into buying and ordering things online.

Nope fiat hasn't become worthless even in your example.
You can still buy 1 btc with 1 million usd.

Fiat will become worthless when you're going to pay 2 satoshi for a bread, 1 mbtc for a trip or 1 btc for a house.

Until then, while the price of btc is still measured in $ , $ can't be worthless.

really hard to imagine about how fiat could disappeared and worthless just because bitcoin grow up so high . i think there is nothing happened when bitcoin price hit $2,500 few days ago , so does then if the bitcoin price hit $10,000 or even higher .

a lot of people still need and use fiat more than people who use bitcoin, unless the situation about this changed drastically.

Fiat and bitcoin is just related in terms of being a currency and it is sure that people will still use fiat over bitcoin if bitcoin will reach up to $10,000 because fiat is very easy to use while bitcoin will be just like an alternative currency for fiat and more like a payment method. Fiat will stay and be the primary currency over the years and years.