Will Bitcoin Usage Reduce Demand Of Fiat?

[GMPoison]

Is it correct if more people start to use Bitcoin than they will use less fiat currency than demand of fiat currency will reduce and at the same time Bitcoin value will be growing?

Even with our current market capitalization of more than $19 billion I don't think that Bitcoin can be influential force creating or decreasing fiat demand. I will use an analogy here: expecting bitcoin to make impact on fiat is like expecting that if you pee into the ocean it will create a tsunami.

If bitcoin is peeing into the ocean then weather.gov (US government) just issued a tsunami watch (bitcoin tax regulations).

[GMPoison]

Is it correct if more people start to use Bitcoin than they will use less fiat currency than demand of fiat currency will reduce and at the same time Bitcoin value will be growing?

Not a chance, there will always be a massive demand for the fake paper money with or without BTC.

Only time will tell my friend!

[damiano]

Is it correct if more people start to use Bitcoin than they will use less fiat currency than demand of fiat currency will reduce and at the same time Bitcoin value will be growing?

Not a chance, there will always be a massive demand for the fake paper money with or without BTC.

Only time will tell my friend!

There will always be control of the central banks in most countries which are controlled by the same private bankers. The control has been sealed and that will never change now the world has became pussy, there will ALWAYS be demand for any currency that they delude us with.

[Wandering Soul~]

Is it correct if more people start to use Bitcoin than they will use less fiat currency than demand of fiat currency will reduce and at the same time Bitcoin value will be growing?

Hmm.. Both are tied by the laws of supply and demand but differs in the number of supply . Fiat clearly outnumbered bitcoins in terms of supply . Lets say that a number of people used bitcoin worth 10M instead of fiat .
It will definitely have an effect on bitcoin market leading to price increase but in fiat who have a billions of supply it will be unnoticable and most probably some people will fill the gap of the 10M fiats who should have been spent instead of bitcoin .

[Xester]

No, it will not happen. The more demand in bitcoins the demand in fiat will not be affected. Remember that we use dollars or fiat currency to buy or purchase bitcoins in the exchangers but it doesnt mean that we leave fiat behind. When the price is ripe for bitcoins we also sell them in exchange for dollars to gain profit. So bitcoin usage therefore does not really reduce the demand in fiat.

[diegz]

No, it will not happen. The more demand in bitcoins the demand in fiat will not be affected. Remember that we use dollars or fiat currency to buy or purchase bitcoins in the exchangers but it doesnt mean that we leave fiat behind. When the price is ripe for bitcoins we also sell them in exchange for dollars to gain profit. So bitcoin usage therefore does not really reduce the demand in fiat.

That's true, and since bitcoin is not part of the system ( I mean the government ) therefore we don't have a choice but to use fiat in everyday living. The demand for fiat would only reduce if most of the merchants and those services that we pay in our locality would start to accept bitcoin, that way, you won't be needing to convert your bitcoin to fiat.

[GMPoison]

Is it correct if more people start to use Bitcoin than they will use less fiat currency than demand of fiat currency will reduce and at the same time Bitcoin value will be growing?

Not a chance, there will always be a massive demand for the fake paper money with or without BTC.

Only time will tell my friend!

There will always be control of the central banks in most countries which are controlled by the same private bankers. The control has been sealed and that will never change now the world has became pussy, there will ALWAYS be demand for any currency that they delude us with.

That's why bitcoin is so revolutionary though, it can take power and control away from those central banks because there isn't much they can do to stop it if the people choose to use it rather than fiat!

[harizen]

Is it correct if more people start to use Bitcoin than they will use less fiat currency than demand of fiat currency will reduce and at the same time Bitcoin value will be growing?

"Literally" yes but lots of things mush happened first. Bitcoin related services are that much compare on fiat related services so this is far from happening today and even in the years to come. Also fiat already established even at the beginning so it will be hard for people to just switch to cryptocurrency.

And generally, bitcoin can't performed other fiat services can do and vice versa, so it's not making sense if one of that will be totally not being used.

[chaser15]

Is it correct if more people start to use Bitcoin than they will use less fiat currency than demand of fiat currency will reduce and at the same time Bitcoin value will be growing?

Depends on the impact of demand since both bitcoin and fiat have some own domination in terms of money transactions. So people will choose where they will feel comfortable.

E.g. Bitcoin is better when used in online transactions and on the other hand fiat will take care of physical transactions.

But if fiat will be undervalued then definitely usage of it will be lessen although chance of happening it has low odds.

[iram3130]

It will reduce the demand of fiat in a lighter way but if any governments try to regulate Bitcoins then it will be a negative factor for the Bitcoin as it needs to be independent and decentralized.  

[grandy]

No, it will not happen. The more demand in bitcoins the demand in fiat will not be affected. Remember that we use dollars or fiat currency to buy or purchase bitcoins in the exchangers but it doesnt mean that we leave fiat behind. When the price is ripe for bitcoins we also sell them in exchange for dollars to gain profit. So bitcoin usage therefore does not really reduce the demand in fiat.

yes i also think so that still fiat is ok and its demand is going to reduce the use of fiat. because bitcoin is not yet used by all the people of the world, i think it will still take a lot of time. it is not going to be so easy.

[Dudeperfect]

It will reduce the demand of fiat in a lighter way but if any governments try to regulate Bitcoins then it will be a negative factor for the Bitcoin as it needs to be independent and decentralized.  

Even if government want supreme control, I don’t think they can even ban the usage of bitcoin because of complete anonymity and worldwide access, it is near to impossible for governments to prevent citizens from using bitcoins. I don’t think that bitcoin would bring any impact on fiat because there are the people who will always use fiat no matter how much other alternatives are convenient than using fiat.

[Tanic]

Is it correct if more people start to use Bitcoin than they will use less fiat currency than demand of fiat currency will reduce and at the same time Bitcoin value will be growing?

Well, it loos correct and logically. But I really doubt that bitcoin will be used by the half of all generation soon. This process will ask for many many years and who knows what is going to be in such far future with all of us and bitcoin.

[c789]

It will reduce the demand of fiat in a lighter way but if any governments try to regulate Bitcoins then it will be a negative factor for the Bitcoin as it needs to be independent and decentralized.  

Even if government want supreme control, I don’t think they can even ban the usage of bitcoin because of complete anonymity and worldwide access, it is near to impossible for governments to prevent citizens from using bitcoins. I don’t think that bitcoin would bring any impact on fiat because there are the people who will always use fiat no matter how much other alternatives are convenient than using fiat.

Bitcoin does not offer total anonymity. It's only pseudonymous: https://bitcoin.org/en/faq#is-bitcoin-anonymous

If you're looking for anonymity, check out Monero. Here's a comparison of coins and services which advertise anonymity: https://moneroforcash.com/monero-vs-dash-vs-zcash-vs-bitcoinmixers.php

[Kray]

Is it correct if more people start to use Bitcoin than they will use less fiat currency than demand of fiat currency will reduce and at the same time Bitcoin value will be growing?

It's not true. Fiat demand always increase or stable because fiat supported by goverment.

[Hazir]

Is it correct if more people start to use Bitcoin than they will use less fiat currency than demand of fiat currency will reduce and at the same time Bitcoin value will be growing?

It's not true. Fiat demand always increase or stable because fiat supported by goverment.

Yes, fiat is supported by government. A SINGLE government, as we don't have any universal fiat. Also fiats tend to fight and compete with each other.

So in theory bitcoin has upper hand here, because it is not limited to one country, government or political background. Bitcoin is global and everyone can back it, make it better.

As long as people will trust that BTC is better than fiat, BTC has a chance to be global economic force in the future.

[GMPoison]

Is it correct if more people start to use Bitcoin than they will use less fiat currency than demand of fiat currency will reduce and at the same time Bitcoin value will be growing?

It's not true. Fiat demand always increase or stable because fiat supported by goverment.

Yes, fiat is supported by government. A SINGLE government, as we don't have any universal fiat. Also fiats tend to fight and compete with each other.

So in theory bitcoin has upper hand here, because it is not limited to one country, government or political background. Bitcoin is global and everyone can back it, make it better.

As long as people will trust that BTC is better than fiat, BTC has a chance to be global economic force in the future.

Bitcoin has every upper hand imaginable. Like you said, people just need to trust it, and it will change the world forever. One day 

[umairsaleem011]

Is it correct if more people start to use Bitcoin than they will use less fiat currency than demand of fiat currency will reduce and at the same time Bitcoin value will be growing?

Not a chance, there will always be a massive demand for the fake paper money with or without BTC.

Only time will tell my friend!

There wont be. in the future we may still use fiat but it wont be in cash and change. Everything will be digital.

[rajasumi3]

If people start accepting bitcoins as currency in our country it might happen otherwise fiat will always rule the market .we should make it more popularise it throughh these and make them understand that bitcoins are better than fiat .

[GMPoison]

Is it correct if more people start to use Bitcoin than they will use less fiat currency than demand of fiat currency will reduce and at the same time Bitcoin value will be growing?

Not a chance, there will always be a massive demand for the fake paper money with or without BTC.

Only time will tell my friend!

There wont be. in the future we may still use fiat but it wont be in cash and change. Everything will be digital.

Yeah, I think that's nearly a fact given how fast we're evolving as humans and how quickly technology is advancing.