Will usage of bitcoin reduce the value of native currencies?

[Ramya494]

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?

[javadsalehi]

I don't think this happens. Fiat currencies are controlled by central banks and governments and do not let this to happen. It will happen only if cryptocurrencies completely replace fiat money. The probability of this is very low.

[Chiefmonkey]

I think  fiat currencies are loosing value all the time regardless of bitcoin... the price of bitcoin doesn't have to change for it to increase in value against fiat

[Shimmiry]

I think  fiat currencies are loosing value all the time regardless of bitcoin... the price of bitcoin doesn't have to change for it to increase in value against fiat

Well probably it has a point. But then, the value of the currency depemds of what currency it is. As we can see the USD has a stable economy but then there are analyst who says that dollar is going down.  But then we can conclude that today bitcoin do not have an effect.

[OmegaStarScream]

Well, for now, I don't really see it happening for one reason. Whenever people trade something that involves bitcoin, they always see the equivalent of USD or other fiat currencies.

[timotron]

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?

I hope that native currencies like USD or EUR will not have the control they had last decades thanks to bitcoin. But I don't think this will happen anytime soon.

most people feel they need fiat for a transaction, most of them don't know about crypto.

Wich people are trying to let down BTC?

We can try to answer a few of them, keep the question coming. But make some research online, or in the forum, so much covered already.

[dothebeats]

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.

[The_Tick]

Considering the obvious trend of digital value replacing physical value and government restrictions on data localization actually hampering countries' gdp growth, I think this is inevitable.
https://www.ft.com/video/b17bba5b-5c79-4534-b81d-24c2eb95d1b4

[Nnuego]

New technologies and designs are meant to improve upon and replace existing ones.
Currencies was invented and it replaced the existing system of trade by barter, a digital asset which is accepted as a currency could open a new door to how we transact.

Gaining acceptance as a currency is not cheaply done, especially as a decentralized system.
Bitcoin and fiat could function together in the same financial ecosystem without any giving way for the other... For now.

[davis196]

The value of all "native" currencies is going down and will continue to decrease,with or without bitcoin.
We can't stop the massive printing machines ,called Federal Reserve System and European Central Bank.
The problem is that most of the people believe in the illusion that the USD and EUR are "stable" currencies.

[jossiel]

Will the value of native currency fall down if the usage of bitcoin increases?

No assurance that it will fall just because of bitcoin's demand has increased. There should be many factors before local currency would fall and one of it is due to financial/world crisis.

Bitcoin is decentralized and the native currencies you are asking is centralized. There's no way that a government backed money will be reduce in value unless there's a big inflation for that country. That's another way of devaluing a currency just like what's happening to Venezuela today.

[Robert46]

I think it won't happens because some people won't  accept bitcoin  due to the risk volatility carries. 
and more over fiat currencies are controlled by central banks and governments and do not let this to happen.

[samsul1234]

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?

I think the currency goes down not because of the increase in people accessing bitcoin, the currency according to the changing times, and bitcoin will not affect the decline of the currency itself

[BrewMaster]

your question, in  my opinion is the same old question that is being repeated around here every month at least about whether bitcoin is going to replace fiat.
and the answer is always going to be no. and because of that the "value of fiat" is never going to drop because of bitcoin's existence and adoption. bitcoin isn't here to "replace" anything or kill anything. bitcoin is here so that people have that needed alternative option for payments that is decentralized and can not be censored.

[Finestream]

New technologies and designs are meant to improve upon and replace existing ones.
Currencies was invented and it replaced the existing system of trade by barter, a digital asset which is accepted as a currency could open a new door to how we transact.

Gaining acceptance as a currency is not cheaply done, especially as a decentralized system.
Bitcoin and fiat could function together in the same financial ecosystem without any giving way for the other... For now.

Right.They can work hand in hand instead of competing with each other.I believe if bitcoin users will increase,it's still cannot make fiat currencies value down.Besides bitcoin is here not to eliminate totally fiat currency ,it may serve as a reserve currency wherein people are free to choose which one to use.

[bitfocus]

I think Bitcoin won't affect that way, people still will be using fiat or local currencies for a few accedes, and eventually, the whole world will adapt crypto as we adapted paper money.

[thesmallgod]

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?

I do not think the increase in usage of bitcoin will make native currency value to depreciate. Since most holders of crypto asset significantly end by changing crypto to fiat. it means eventhough bitcoin usage can be high but it doesnt make fiat to be less valuable. many people are discrediting fiat because they see it as a threat to the job or to the economy of their country. Also due to rapid use of crypto for fraudulent actvities, it is getting more enemy

[shamc]

Bitcoin will help failing currencies that are falling down. just look at the economy in Venezuela. Their currency has gone down the pan and they are looking at crypto to save them

[bellamente]

Bitcoin will never be a competitor to the dollar. This is an analogue that is popular, but the world government does not legalize cryptocurrency.

Now bitcoin is a good tool for online payments.

[santino11]

I think its not, the more use of bitcoin in the community will gain more value for bitcoin.
Well the world dont want to admit that FIAT is falling they are just telling BTC value is rising.
But if we will think about it, USD value and other currency of the world are so down now especially last December 2017.