Will usage of bitcoin reduce the value of native currencies?

[Denies]

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?

you should try to learn about bitcoin, the blockchain from the first was created. there are insights that you will get for free. yes this is for your own interests if you want to be involved in the crypto industry

[miltonpogi]

I don't think that it will happen because cryptocurrency will always relies on fiat. I've heard that the Government of US doesn't really care about Bitcoin because it doesn't affect Dollar in a negative way and they don't see any threats to it except for scams.

[olubams]

The usage of bitcoin or any crypto currency would not in any way reduce the value of native currency at least till the nearest future because as at now, there entire market capitalization is not even up to a to the value of Amazon or Microsoft which has been valued to worth over a trillion dollars now comparing that to only the companies in the United States alone and not extending it to other countries of the world before looking at the GDP of their respective economies.

Bitcoin and other crypto currencies would only serve as an alternative to the millennials and few others in the previous generation that are willing to adapt to change while the native currencies continues to hold sway in every of human financial dealings.

[Atomic.2017]

Well, at the present time, this is quite unlikely as they are different forms of currencies. One that is physical and one that is digital thereby has separate markets. However, in the future, once digital currencies are more widely accepted, then it may affect the value of the money that is more familiar to many people now.

[NeuroticFish]

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?

The value of native currency is dictated more or less directly by the economic power of that country and the government/financial politics. If people buys gold then dollar gets weaker? No.
But the financial politics are made in a way the national currencies decrease in value "by themselves", with no help from Bitcoin. Very slowly, but they do. It's the inflation, and even 1% per year is still inflation.

[thankyoulord]

i sincerely don't think the continuous use of bitcoin will reduce the value of native currencies. Bitcoin is online money while native currency is physical money. though both serve the same purpose which transactions, they both operate in different ways. for now bitcoin wont reduce the native currency value but let's just watch what unfolds in the nearby future.

[walemil]

I don't think that the use of bitcoin can reduce the value of native currencies because the native currency is under the control of the government and the government will do anything to protect it. Besides, the use of cryptocurrency is currently very low to threaten any native currency.

[Elqui]

Ofcourse not, it is a different currency because bitcoin is a digital currency and bitcoin and native currency can work perfectly together all over the world.

[hadveach]

the government in my country has begun to worry, the minister of economy and finance in my country made a statement, that they will create digital currencies, but not like bitcoin. the aim is to compete with bitcoin and crypto.

this means that the spread and growth of bitcoin is getting better. and will threaten the existence of fiat.

[EllieBasti05]

I think they will both exist in the future. The coexistence of the two has different sides.

In other countries cryptocurrency usage already increased but they still use fiat money.

Fiat money has the stable value compare to bitcoin that has unstable value because of market changing.

[ICOTechSupport]

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.

[Wingleness]

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?

Increase or decrease in bitcoin value got nothing to do with what happened to fiat. Fiat is printed by the government of the country and managed by the Central Bank thus explaining the centralisation of it.

[Vaculin]

I think they will both exist in the future. The coexistence of the two has different sides.

In other countries cryptocurrency usage already increased but they still use fiat money.

Fiat money has the stable value compare to bitcoin that has unstable value because of market changing.

I definitely agree on you.Even if mass adoption for bitcoin will soon to take place,fiat currency or native currency will not be easily broken or fall down.Of course it will continue to live in this digital world because people are already used to it.And it will never reduce its value from what i see for now.

[izanagi narukami]

If you compare between crypto and fiat, they are complete different things.
So it will not affect on native currencies or fiat , I can guarantee !

People may have different alternative for transaction so it will increase their mobility around the world !

[lyks15]

For me this has a point while we are using bitcoin or other digital currency will reduce the value of our native currencies because we are all mmnow use and we all now save our bitcoin as savings and investment that before we are doing it with our natural currency. But I think this is okay because for me the maine purpose of any currency is to help us to make our life better and to buy our daily needs not only a trademark of every country. And the bitcoin provide it for us so even we feel that we dump our natural currency it is okay if exchange of it is a better life and future for you and for your family.

[ShadowBits]

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?

Nope, I think not since a lot of people still do work and people who works there tend to receive only "native" money there and I know that Bitcoin is not yet stable to be called a currency.

[SnapDown22]

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.

in my opinion it could be detrimental to the original currency because like the real money is lost and increasingly not used and it will harm real money if bitcoin develops in the world I think like that

[MMS2017]

Off course if the bitcoin use is increases the people of the present currencies will reduces but still the native currencies will be used more than 70% of the public and the 20% will use both fiat and crypto while at least 10% of the public will shift fully to the crypto side but somewhere we need native currency to fulfill our daily needs but up to business it is true that bitcoin will change the monetary system of the world.

[Michael_Cox]

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.

Still, it might not be enough for fiat to continue losing its value. Currencies go down and up all the time, it doesn't mean that it will lose its value just like that just because of bitcoin. Especially not USD. It's way too big a currency to lose its value over a virtual currency just like that. Plus, there are still more people using their native currencies. Even us, bitcoin users, we still use it today because it's what allow us to pay for goods and services. Doesn't mean though that bitcoin have lesser value over fiat.

[serjent05]

I dont see the relevance. Bitcoin’s value is based on fiat and fiat’s value in every locality is determined by their local currency, so every transaction in bitcoin does not affect at all any native currency, it just reflect the value. Native currencies just serve as mirrors that reflect bitcoin’s value based on fiat. Bitcoin is not a property of any nation or locality so No reason it will affect.