|
Gotottack
|
 |
December 04, 2017, 10:01:43 AM |
|
I agree. Governments will exercise all measures to prevent this from happening because that would mean losing control with its people. You should know very well how important it is for governments to have such control with its people.
Nonetheless, I agree that should Bitcoin's price be ever escalating, fiat currency may suffer because of the decreased demand for it. Thing is, there will never be a decreased demand for it UNLESS Bitcoin is widely accepted as a form of payment. The only way fiat currency's value will suffer is when governments already accept Bitcoin as a form of payment.
|
|
|
|
|
|
|
|
|
|
TalkImg was created especially for hosting images on bitcointalk.org: try it next time you want to post an image
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
bohr
|
|
December 06, 2017, 02:49:14 AM |
|
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
Bitcoin has finally reached that amount of money and yet fiat is still there doing its thing unaffected, bitcoin will need to reach prices that are incredibly high in order to interfere with fiat, probably a price of 500k or even 1 million per bitcoin, that seems almost impossible and I do not think it is going to happen soon but if you want fiat to be worthless bitcoin will need to reach those prices. |
|
|
|
|
arief89
Member
 Offline
Activity: 266
Merit: 10
|
|
December 07, 2017, 06:42:56 AM |
|
bitcoin prices will not affect fiat currency prices, since fiat currency prices are not influenced by bitcoin prices, but the rise and fall of fiat currencies is influenced by a country's economy or other reasons, so if rising bitcoin, fiat currency remains valuable and will not affected ...
|
|
|
|
Isaak Bitcoin
Member
Offline
Activity: 170
Merit: 10
|
|
December 07, 2017, 07:21:14 AM |
|
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
Today bitcoin reached 14,000, nobody canceled the currency. I think that bitcoin can not in principle cancel the fiat. At any cost of cryptocurrency. |
|
|
|
barontamago
Newbie
Offline
Activity: 143
Merit: 0
|
|
December 07, 2017, 07:39:08 AM |
|
As of today there is no fiat that collapse when the bitcoin reaches $10k. Bitcoin is still an option when it terms of making payments. Also, the government won't allow bitcoin making fiat worthless because that is their way of allocating tax.
|
|
|
|
|
|
BillCoin
|
|
December 07, 2017, 07:45:52 AM |
|
the government will never allow the fiat to be useless...it will mean that the government will stop controlling the people - no one will agree to this...
I agree. One of the main things that is going to be a problem for bitcoin is that the governments is that if bitcoin price reaches a critical point that makes fiat worthless,and governments are not going to let it happen. This is going to be the strongest wall for bitcoin to pass. |
|
|
|
|
OTA-COOL
Newbie
Offline
Activity: 4
Merit: 0
|
|
December 07, 2017, 08:26:52 AM |
|
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
At 10000$ BTC price is like comparing the moon to the earth, it must be at least a million dollars in order to overtake the fiat. Never underestimate the old system, as I'm typing BTC is at 15k$. Fiat is alive and kicking. |
|
|
|
|
thet
Full Member
Offline
Activity: 322
Merit: 110
elysian.finance
|
|
December 07, 2017, 08:30:39 AM |
|
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
Bitcon price now is at $14,380 and yet fiat is not yet worthless because it is commonly used by everyone in the world. It will never become worthless even if btc price becomes $100,000. |
|
|
|
|
ynatopak14
|
|
December 07, 2017, 08:37:57 AM |
|
how about now that bitcoin is in 13,000 USD ? but fiat still have the value  cyrpto currency or bitcoin cant replace FIAT in the community all over the world as long as we cant used any crypto offline, this is the only problem that need to be solve and once done there will be no excuses for replacing FIAt with bitcoinor any cryptocurrencies ! |
|
|
|
|
|
GeniusAko
|
|
December 07, 2017, 08:45:17 AM |
|
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
The answer is no! The price of the bitcoin reached $10,000 per each and you can see that the fiat is still important. Fiat money will not be worthless because most of the people in our society are favor to use fiat currency than digital currency. |
|
|
|
|
|
alkiw21
|
|
December 07, 2017, 10:05:06 AM |
|
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 do not agree. Because fiat will still we use. Bitcoin is a great value now. But it will not replace the fiat because between fiat and bitcoin are very different uses. |
|
|
|
|
|
anhhung409
|
|
December 07, 2017, 10:51:34 AM |
|
Now I daresay that your statement is completely wrong because the value of Bitcoin at the moment has reached nearly $ 15k. Probably in the future, Bitcoin prices will go up even higher and the numbers predicted at the moment will become meaningless in the future.
|
|
|
|
Noelnada
Member
Offline
Activity: 336
Merit: 12
|
|
December 07, 2017, 11:03:49 AM |
|
I don't see why the bitcoin price level would impact the fiat value. That's not how the economy works, Bitcoin price rise because it's a deflationary currency at the same times as a highly speculative asset. Even if bitcoins were worth 1 million$ each, that would be 15 Trillions$ total market cap, that wouldn't even be 10% of all financial assets at the current volume. Even though Bitcoin would reach 1 million $, it's very likely that all financial assets combined would represent much more than the current 156 trillions.
The global economy needs inflation/debt to work, that's not something bitcoin is going to change, it is something we can change collectively though, but is it necesary ?
|
|
|
|
|
explosion
|
|
December 07, 2017, 04:23:57 PM |
|
The question is not in its price but rather in the scale it is spread all over the population... The majority of BTC users don't use it as a currency. Thus, fiat is needed
|
|
|
|
|
CookingRaptor
Newbie
Offline
Activity: 27
Merit: 0
|
|
December 22, 2017, 08:57:15 AM |
|
Ta al.. You'll certainly be skipped..eH..r
|
|
|
|
|
|
kyanscadiel
|
|
December 22, 2017, 10:19:33 AM |
|
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?
Fiat will never be worthless. Fiat is what we use in our daily lives for our everyday expenses, even if Bitcoin hit the higher value Fiat will never be worthless at all. We can always use Fiat anytime we want and we can even buy a cup of coffee in any coffee shops paying for cash. |
|
|
|
petramat
Newbie
Offline
Activity: 25
Merit: 0
|
|
January 02, 2018, 07:29:01 PM |
|
fiat will never be replaced because it is more protected by the laws of every country, with fiat money we can buy one candy easily . |
|
|
|
|
Ma Nancy
Member
Offline
Activity: 105
Merit: 10
|
|
January 04, 2018, 09:10:05 AM |
|
Well its a no because if theres no fiat bitcoin is worthless.
|
|
|
|
|
portotoi
Full Member
Offline
Activity: 280
Merit: 101
Blockchain with a Purpose
|
|
January 04, 2018, 09:16:01 AM |
|
I just relaized that even if the bitcoin price will rise upto $10.000, or even higher that that, still the fiat will not be worthless. Because there are other circumstances ang instances that fiat is still needed.
|
|
|
|
CrazeCoinz
Member
Offline
Activity: 364
Merit: 10
|
|
January 04, 2018, 01:51:41 PM |
|
This could not be happen. Fiat is will still part of our daily lives.
Even if the price of bitcoin will land to the moon.
Still the government will use fiat as currency.
Many people are not aware about bitcoin and it needs online connection to transact.
Here in my country, remote areas has no electricity considering we are now at 21st century.
|
|
|
|
|
|
Poll
