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

[noictib]

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 and never , Here I can't believe that it may be possible that statement of the fiat to became the worthless , because with the Bitcoin you can make the payment worldwide ( Bitcoin should be available to use in the receiver country also ) , and also you can make speed earnings with the Bitcoin , so here Bitcoin is only to make and save your money and also grow your money speedly .
At the every end of the profit you will sell your Bitcoin or other altcoin for the fiat money .
But still we can say that Bitcoin can be use by us for the payment at the local shop in the future but still the fiat will remain in the heart of traditional people , who don't want get Bitcoin and are happy in his life with the paper money and have believe with paper money .

[CryptoBry]

Bitcoin is not really here to kill fiat. Remember that in many places, people still do not know Bitcoin and even if they do it would take years for them to be able to adopt Bitcoin much more that it is a very volatile currency which can disrupt financial planning. We need fiat because fiat is more stable. Here in my country, for us to get benefits out of Bitcoin we have to convert it into fiat which we use for everyday transactions. I could not imagine any country that can do its annual budget linked to Bitcoin because it can be insane.

[Astvile]

Not at all.No matter ho much does bitcoins price will reach it will never ever surpass and make fiat currency worthless,maybe if bitcoins gets too mainstream it can be use as a daily currency and fiat will be use less times than how we do it right now but will never be worthless

[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.

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.

i just think both fiat and bitcoin won't get replaced each other . both should be used together and nothing have to disappeared or replaced , but of course fiat could adopt the blockchain technology into their financial system as it is full of benefit .

i even think the only thing could become worthless are bitcoin itself, not fiat.

[batang_bitcoin]

Not at all.No matter ho much does bitcoins price will reach it will never ever surpass and make fiat currency worthless,maybe if bitcoins gets too mainstream it can be use as a daily currency and fiat will be use less times than how we do it right now but will never be worthless

The price of bitcoin doesn't have something to do with the value and worth of fiat. Fiat is given to be the most popular way of buying things and receiving payment. And it will never be worthless unless the state will declare to everyone that they already dumped the usage of fiat, and that will be the time it will be worthless.

[potatopower]

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.

yeah, as long as government is saying that fiat not worthless and as long as there are any users of it fiat will be used a lot. True, the inflation might be really huge and it might bring the price down really significantly. The bitcoin price is going to be bigger and bigger with time and hopefully it will not be replaced by something else like ethereum which has no market cap and can be mined endlessly.

[matuson]

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.

Bankers are not fools. They have long been watching the bitcoin. Soon the States themselves will start to convert Fiat into electronic form. And then start a real competition with bitcoin. The government will do everything to maintain their control over money and will try to do everything to kill bitcoin.

[FlightyPouch]

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.

yeah, as long as government is saying that fiat not worthless and as long as there are any users of it fiat will be used a lot. True, the inflation might be really huge and it might bring the price down really significantly. The bitcoin price is going to be bigger and bigger with time and hopefully it will not be replaced by something else like ethereum which has no market cap and can be mined endlessly.

What are you saying? Are you saying that if the government says that fiats are worthless fiats will not be used? Without fiat, bitcoin and the other digital currencies will be no value, they will be just a digital currency for show. There is no way government will use bitcoin or other currency to be a global currency, digital currency will stay as it is. And I think ethereum had it's limit now, I am not sure, but I think I've read that before somewhere.

[webtricks]

Not at all.No matter ho much does bitcoins price will reach it will never ever surpass and make fiat currency worthless,maybe if bitcoins gets too mainstream it can be use as a daily currency and fiat will be use less times than how we do it right now but will never be worthless

The price of bitcoin doesn't have something to do with the value and worth of fiat. Fiat is given to be the most popular way of buying things and receiving payment. And it will never be worthless unless the state will declare to everyone that they already dumped the usage of fiat, and that will be the time it will be worthless.

No state gonna declare Bitcoin as mainstream until and unless it is pressurised to do so. And pressure could only be build through public movement. If we wanna see Bitcoin crossing fiat transactions, all we need to do is bring it to our daily use. When more and more transactions happen in Bitcoin daily, every government in the world would surely take a look at its case and either ban or promote cryptocurrencies.

[Harlot]

The funny thing about your statement is you have valued Bitcoin at 10,000$ which is in fiat currency, it is like saying Bitcoin is also worthless because Fiat Currency is worthless. But of course the answer to your question is no because everything always change in value but it does not mean something is less valuable because of it. Everything has an inner value with them that does not need to be based by something, for example a corporation has more expensive shares compared to another corporation it doesn't mean the latter it worthless.

[choppork]

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.

I don't think you fully understand what I meant. I'm talking about how much people value fiat. Merchants are still going to accept fiat in the long run since most people are not going to embrace the new currency which is bitcoin. I already explained this from my previous post so I'm basically just repeating myself: There will be two parts of the society. One that thinks that bitcoin is precious while the other one are those people that only use fiat. So bitcoin will always be measured in fiat even when the price already have a bitcoin equivalent written.

[batang_bitcoin]

Not at all.No matter ho much does bitcoins price will reach it will never ever surpass and make fiat currency worthless,maybe if bitcoins gets too mainstream it can be use as a daily currency and fiat will be use less times than how we do it right now but will never be worthless

The price of bitcoin doesn't have something to do with the value and worth of fiat. Fiat is given to be the most popular way of buying things and receiving payment. And it will never be worthless unless the state will declare to everyone that they already dumped the usage of fiat, and that will be the time it will be worthless.

No state gonna declare Bitcoin as mainstream until and unless it is pressurised to do so. And pressure could only be build through public movement. If we wanna see Bitcoin crossing fiat transactions, all we need to do is bring it to our daily use. When more and more transactions happen in Bitcoin daily, every government in the world would surely take a look at its case and either ban or promote cryptocurrencies.

It's hard to believe that there will be a country to pursue bitcoin as their main currency. But the most hard to believe thing is that you are not going to see fiat as worthless money, it will always have the worth as it is the main currency. It's good only as a secondary way of paying if the customers wants to pay this as an option.

[nethan1btc]

Crypto currency has it's own system set aside from fiat currency, they're bot separated in terms of price movement in the market, we cannot say if $10k dollar price will affect fiat currency economy. But there is better impact to wealth of bitcoiners because if they have bigger amount of bitcoin; they could exchange bigger amounts from digital currency converted to fiat cash.

[wahb]

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.

yeah, as long as government is saying that fiat not worthless and as long as there are any users of it fiat will be used a lot. True, the inflation might be really huge and it might bring the price down really significantly. The bitcoin price is going to be bigger and bigger with time and hopefully it will not be replaced by something else like ethereum which has no market cap and can be mined endlessly.

What are you saying? Are you saying that if the government says that fiats are worthless fiats will not be used? Without fiat, bitcoin and the other digital currencies will be no value, they will be just a digital currency for show. There is no way government will use bitcoin or other currency to be a global currency, digital currency will stay as it is. And I think ethereum had it's limit now, I am not sure, but I think I've read that before somewhere.

 
not a single country is going to give such kind of statement, even the government will declare bitcoin as legal currency but still they are not going to declare their fiat currency as worthless. it is depending on the interest of the people after long long time if the users of bitcoin consider bitcoin as enough to be use for anything and do not give any preference to fiat currency the there are some chance that fiat will become worthless.

[JL421]

Fiat will still have worth but inflation hike is still unstoppable, leterally the government will create and print higher notes just to continue the flow of the monetary system.

No matter what happens , if there is a crypto which has unlimited supply , which is secure like fiat , works offline and legit has all the features of price no government is going to replace it with their currency as crypto means price can fluctuate a bit and government would surely not want to lose the control of controlling it's currency

[Sled]

Fiat will still have worth but inflation hike is still unstoppable, leterally the government will create and print higher notes just to continue the flow of the monetary system.

No matter what happens , if there is a crypto which has unlimited supply , which is secure like fiat , works offline and legit has all the features of price no government is going to replace it with their currency as crypto means price can fluctuate a bit and government would surely not want to lose the control of controlling it's currency

Whatever does the cryptocurrency had it is still not enough for the cryptocurrencies to make fiat worthless because government will never let that happen and they will ban bitcoin if bitcoin will try to do that. Government will just accept bitcoin as another type of currency but never let bitcoin makes their fiat worthless.

[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?

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

It may mean only that

That 1 bitcoin is worth 1 million dollars. So given only that, we can't come to any conclusion whether it is Bitcoin appreciated or dollar depreciated, or a random mixture of these two extremes. Basically, anything is possible within this range of possibilities. If it is Bitcoin that got so expensive, people will be obviously using dollars as before. Could Bitcoin cost that much? Why not? After all, 1 (one) share of Warren Buffett's Berkshire Hathaway costs over 200k dollars, and you can't divide it into subshares at that (unlike Bitcoin)

[Salazarian]

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

It may mean only that

That 1 bitcoin is worth 1 million dollars. So given only that, we can't come to any conclusion whether it is Bitcoin appreciated or dollar depreciated, or a random mixture of these two extremes. Basically, anything is possible within this range of possibilities. If it is Bitcoin that got so expensive, people will be obviously using dollars as before. Could Bitcoin cost that much? Why not? After all, 1 (one) share of Warren Buffett's Berkshire Hathaway costs over 200k dollars, and you can't divide it into subshares at that (unlike Bitcoin)

To me i think the price is not important here but the users are too much important. if the users of bitcoin are increasing bitcoin will become more stronger and people will put more confident on bitcoin, they will adopt bitcoin in their life and will start using not only for online purpose but even in their local shops for shopping, and through this way the use of fiat will decrease from time to time.

[jpoker272727]

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

There is some misunderstanding of the concepts, if fiat becomes worthless then how would you value the bitcoin there.

I don't know if the fiat would be worthless in the next decades even though the trending of crypto currencies are moving so fast that is taking really a high attention to most of the people in the world.

[crazycatwoman03]

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

My answered is no, even it has a huge value, the fiat is there before bitcon discovered. Even it become so popular and we know the benefits of bitcoin, more people in our society have no idea about bitcoin.

At this time the population of poor people is many than rich person, the user of internet is still increase so if the bitcoin in the future goes to $10,000 I think he/she interested in the bitcoin. But the fiat will never be face out in our society.