Will usage of bitcoin reduce the value of native currencies?

[West0813]

I don't think so. Native currencies are still very essential in everyday lives of many people. And even there is bitcoin. The value of native currencies still remain the same.

[1715331578]

1715331578

[1715331578]

1715331578

[1715331578]

1715331578

[Roni116]

Fiat will not easily lose its value because of bitcoin, fiat will survive because it is regulated by the government. I think both run on different paths, and fiat will survive.

[H1N1]

Will the value of native currency fall down if the usage of bitcoin increases?do people feel that they don't need fiat anymore for the transactions to happen?Is that why people are trying to let down bitcoin ? Many questions are just wandering in my mind at the moment. Can anyone answer atleast few of them?

Maybe not for now, but i dont know in the future. If peoples using crypto more than fiat currency,
one sure thing is the value of cryptocurrency will increasing because of the demands from peoples who using it.

[Vaculin]

There is no correlation to native currencies as they can co exist.
People are investing in bitcoin because of the possibility that the demand will increase and their value will increase, but in general bitcoin is not really an investment but a system where we can use to transfer money in decentralized way, of course a lot of benefits we can have like fees, and transaction speed.

[teejayrichard2]

i dont think use of bitcoin will reduce the value of money as i feel it its better if they both co-exist. while it is easier to make huge transactions with bitcoin, it is easier to make small transactions especially in market places with native currency

[thankyoulord]

well sincerely no one knows but it will be better if native currency remains where it is as there are several things one could purchase with native currency easily than using bitcoin

[Kasabus]

well sincerely no one knows but it will be better if native currency remains where it is as there are several things one could purchase with native currency easily than using bitcoin

The purpose of digital currencies creation isn't for making native or local currency become no value. Instead it provide us other option to make easier for us doing Online transactions as mostly engage into today. 
Local currency will still remain in its value as we used it regularly.

[Finestream]

well sincerely no one knows but it will be better if native currency remains where it is as there are several things one could purchase with native currency easily than using bitcoin

The purpose of digital currencies creation isn't for making native or local currency become no value. Instead it provide us other option to make easier for us doing Online transactions as mostly engage into today. 
Local currency will still remain in its value as we used it regularly.

I agree.Bitcoin is not created to compete with the native currencies.And it's really far from possibility because bitcoin is not yet adopted by the government so people are still using it as another option for payment particularly in online.Majority of the people are still using native currencies.But maybe if bitcoin will have a mass adoption in the future,then that time our native currencies might be already affected.

[levvv]

Will the value of native currency fall down if the usage of bitcoin increases?do people feel that they don't need fiat anymore for the transactions to happen?Is that why people are trying to let down bitcoin ? Many questions are just wandering in my mind at the moment. Can anyone answer atleast few of them?

If most peoples start to prefer using bitcoin than common currency / money, then of course it will makes bitcoin more valueable than
fiat currencies / money, but not reducing the value of fiat currencies. For now, peoples still need fiat money to buying and selling things.

[aris av]

I think it depends on the use of bitcoin, if it is used as a payment method, bitcoin will be able to influence the decline in the value of the original currency.

[irenegaming]

Uhmm I do not think, it would have to be something too massive for that to happen, remember that many businesses are made with gold and silver, so the fiat did not displace that exchange rate, the same surely that will happen with cryptos too, like a type more currency, that we can use for our transactions.

[MULTIK888]

I don't think that's going to happen for any reason.
Bitcoin is too volatile until and until its price is stabilized people will not hold bitcoin for real application.
There are no places to use bitcoin. Payment for goods and services plays an important role in the formation of the cryptocurrency, and while we see only rare transactions for purchase or transfers in some more developed countries.

[Argoo]

It's not gonna happen. Firstly, governments would sure prohibit the use of foreign currencies from the start and forex wouldn't even exist. Secondly, there's not much people using bitcoin for daily transactions as most things are still priced in fiat. Even online stores are hesitant to accept bitcoin as a payment method due to the risk volatility carries. Lastly, bitcoin will never be a currency that could take on USD and EUR. While it can exist side-by-side with the said currencies, it can never go head-to-head with these guys in terms of usage.

Totally agree with you. We do not yet see the negative impact of cryptocurrency on lower prices fiat. For example, Japan last year received a few tenths of a percent of its gross income from the use of cryptocurrency, that is, the economy only benefits from this, which means that local money is strengthening, that is on the contrary, fiat only grows in price.

[coinwizard_]

If people switch over to bitcoin for purchasing then the governments will lose a lot of tax revenue, which won't help the debt situation. Native currencies will fall when bitcoin goes global mainstream

[minatour]

Will the value of native currency fall down if the usage of bitcoin increases?do people feel that they don't need fiat anymore for the transactions to happen?Is that why people are trying to let down bitcoin ? Many questions are just wandering in my mind at the moment. Can anyone answer atleast few of them?

no, forever bitcoin can never dominate fiat money. fiat will remain the primary payment tool.

[Elerntta]

Even if this happens, it is not very soon. It is unlikely that people very quickly switch from the usual national currency to the use of bitcoin. For example, in my country, not all people even use a Bank card, let alone a digital currency.

[12tribes]

The value of individual currencies is not determined by the use or non-use of cryptocurrency. Economic indices affect the value of a nation's currency. the use of atm cards or the use of cashless technology has not and does not affect the value of the currency. The use of bitcoin will open up the economy and financial sectors to alternative channels and means of doing business. Let's exploit it.

[WebTera]

I strongly believe in the prospects of bitcoin and that it will be a single global currency. But unfortunately, there are so many people who will continue to use Fiat no matter what. Therefore, I do not think that there is a serious problem of replacing national money with bitcoin. They will be used in parallel.

[minhlee95]

I am also more inclined to believe that bitcoin will simply be a great alternative to national money, but will not replace them completely. So maybe he will reduce the usage of Fiat, but in a very slight degree.

[Dread Pirate Roberts]

Will the value of native currency fall down if the usage of bitcoin increases?do people feel that they don't need fiat anymore for the transactions to happen?Is that why people are trying to let down bitcoin ? Many questions are just wandering in my mind at the moment. Can anyone answer atleast few of them?

Everything not related in crypto should not get affected of crypto and alt coin . micro transaction its needed daily . and hand to hand transaction ofcourse people still needed . no way people in this world become fully digital . crypto currency more like for Digital transaction or alternative digital payment .