Will usage of bitcoin reduce the value of native currencies?

[timmydakolo2]

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?

Usage of bitcoin dont have anything to do with reducing of its value... All we see around is what has happened in the history of bitcoin and other altcoin since bitcoin is the king other coin follows. I see speculations that soon most altcoin wikl die off and which is definitely true.

[bitcoinVPSD]

No . Using bitcoin for current billing is often not widely used. Many investors buy bitcoin for their investment purpose instead of using it for payment methods. The daily payment method is mainly traditional currency.  So , rising bitcoin demand will not diminish the value of the domestic currency.

[goodluck0319]

Yes, so I think that each state will have its own cryptocurrency with its own value

[Reid]

How could that happen if we are always converting every crypto currency into USD? 
It is the truth and specially with bitcoin which is like a commodity only and not a currency for a lot of people here.

It just became a trading tool to get more USD which is getting me worried. It may stay like this for a long time. It will not weaken the fiat system but more stronger.

[tenakha]

If the government agrees, we will not need paper money anyway. But if governments don't accept Bitcoin, it will not spread as a payment method. If so, it is something like economic rebellion that everyone starts using cryptocurrency without governments' accept and i have no idea how it will end.

[proTECH77]

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?

Sure the native currency will fall down if the usage of Bitcoin increase among cryptocurrency community or among the masses. Yes, people feel that the transaction that's been done through fiat is not secure so, they crave to that transaction done without a trace. Yes, some cabal never want to see Bitcoin live as it post a threat to their economy and given freedom to the people by the people.

[peacefulpeace]

fiat currency is an old means of exchange after the trade by barter era failed to yield the much anticipated result, and from time immemorial, fiat currency has proven to be a convenient means of dealing. This landmark cannot be eradicated by crypto currency. Yes soon bitcoin will gain prominence but not to the detriment of fiat currency.

[Hivalley]

Bitcoin and Fiat currencies have no connection when it comes to their price/value/volume..
And none of the two can either affect the others price nor value..

Fiat currencies are regulated by the government and reflect the economy of a nation,it wields so much power in their native country and the bitcoin just can't reduce it's patronage..

Bitcoin isn't regulated by the government and reflects individuality,as individuals on the system determine it's price/value..

The bitcoin is growing faster than expected with far more adoptions everyday,but it is in no competition with conventional currencies

[mackenzie5]

 The chances for reducing the value of native currencies is not possible since fiat currencies are completely controlled by the government and central banks and it is the responsibility of them not to let reduce the value of their currency .

[AiBBio]

I think it will not happen in short terms, but it can happen in long terms...

[bloodyvio]

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?

let time tell
no one can confirm it all
Fiat is still needed for offline transactions, at least for now

[Al-e_x]

yes, the value of the native currency will fall when the demand for bitcoin increases higher, the function of fiat will be limited, and will only be used by some primitive people, and some people don't like the growth of bitcoin and they try to make FUDs that can make bitcoin fall.

I think, it's not important to answer their opinions, it will only waste time, and they will regret when bitcoin dominates every transaction value.

[maxilopez]

yes, of course, the more bitcoin will be used in the world, the more nat will fall because people will start to trust bitcoin

[IndigoRed]

I'm no economic expert, but won't supply and demand impact value? If we all start using bitcoin, and there will be less demand for fiat, won't its value be affected?

[pooya87]

fiat and centralization will always exist. at least in our lifetime because the centralized world that controls fiat is too big and too powerful to simply go away because a new and better currency came along called bitcoin which happens to be decentralized and out of their control.
there is a big infrastructure based on fiat and that centralization, and that  doesn't go away easily either.
besides bitcoin does not aim to replace fiat so there is no reason for it to do that either.

[Mikwik]

For me, I don't really think that the usage of Bitcoin will come to reduce the value of the native currencies. Because, fiat currencies are controlled by banks which is under government. The government too, will not let this happens because they will take an immediate action towards this. And for my instinct, this will only have a possibility, if and only if the crypto currencies will truly and definitely replace the use of fiat currencies.

[blocklancer8]

It seems that it doesn't affect because the money circulating in each country is still superior for transacting, a lot of bitcoins have been stored as assets. Will affect if this bitcoin has been legalized and all people use it in daily life.

[Joeyvicky]

iI really think there is much to tht that is why most govrernment oppose the idea of btc, but i hope with time and with the trend of bitcoin if it takes over the world it will overshadow the use of all native currencies. It is the hope of our currency.

[zupdawg]

fiat is essential, for you to be able to have cryptocurrency to be spend with your different transaction you need to buy it and you will use fiat so there is no reason for fiat to be dissolve in our everyday life.

[giantrobot]

This will be unlikely. Because Bitcoin still exists in parallel and depends on Flat. Bitcoin has the ability to dominate the market. Flat still proves it's the number one deal by its convenience and simplicity.