Will usage of bitcoin reduce the value of native currencies?

[jems]

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 it will still be used as the main transaction even though bitcoin is growing in the future because there are some things that Bitcoin hasn't reached to be able to defeat Fiat.
1. Bitcoin does not have security and high popularity compared to Fiat
2. Bitcoin has a price that almost always changes every hour
3. Bitcoin doesn't even have legality in some countries.

[perla]

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?

Nothing will change fiat, because people still use it. Like bitcoin as based of crypto, fiat is base of common currency. And don't forget if not all people in this world already touched with an internet.

[iSparta]

If the turnover of any national monetary unit decreases, its emission should be decreased too. This ultimately should lead to an increase in the value of this currency. Therefore, the introduction of Bitcoin into circulation should contribute to an increase in the value of national currencies.

[aray80]

Will the value of the original currency fall if the use of bitcoin increases?

yes, it will fall, because if digital currencies continue to increase both in quantity and in trade traffic, this will directly marginalize the role of the central bank as an institution that has the authority to print and determine the money supply.

[pinoyden]

Will the value of the original currency fall if the use of bitcoin increases?

yes, it will fall, because if digital currencies continue to increase both in quantity and in trade traffic, this will directly marginalize the role of the central bank as an institution that has the authority to print and determine the money supply.

Local currency is stable and it cannot decrease its value anymore ( except from others like usd which can somtimes decrease but the decrease is only small though it can also recover from its fixed rate )

Local currency is still the one that people will use before they buy a crypto , so local currency will always be indemand than compared to cryptos .

Instead , we can say that other values of cryptos such as altcoins and tokens will reduced if people will only buy more bitcoins .

[ABDUL86]

If bitcoin will accept every where as a payment method then I'm sure native currency uses decrease surely,but now I don't think like this.

[0t3p0t]

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 don't think if the usage of Bitcoin will reduce the value of our local currency it is because of the fact that majority of our fellowmen are uneducated about Bitcoin, or adoption is not that wide I mean Bitcoin is just an option in terms of usage as it can't be used as for daily expenses or whatever it should be due to some technical reasons. Here in my country, I think 10% of the total population uses Bitcoin and for me it does not affect the price of our local as it was based on dollar rates not in Bitcoin or any cryptocurrency.

[sgenuine]

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.

There is no connection between Bitcoin usage and the value of the money used in different countries. Even when BTC becomes extremely popular globally, fiat will be used everywhere as usual.

[WebTera]

If bitcoin completely replaces national currencies, and their use is minimized, then it will really fall in price, as people simply will not use it. But the probability of this is very low.

[Dean Collins]

no. Fiat currencies are controlled by central banks and governments and do not allow this to happen.

[BuyBuyBitcoin]

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

The weakest currencies with the most manipulation (Bolivar, Ruble, Indian Rupee, South African Rand) are going to continue to drop. The people in many of these countries have never fully trusted these currencies, bitcoin gives them a way to store value without fear of manipulation/fraud by the central bankers.

[Sandus_Cryptolover]

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?

There's no correlation between fiat and Bitcoin as both operates on different platforms. Fiat operates on a centralised system by the CBN of the country while Bitcoin is Decentralised controlled by all users.

[bitvelk]

Perhaps this will happen, but most likely, people will continue to actively use Fiat, because bitcoin will not be available to everyone. Not all people have smartphones, and not everyone will want to use digital currency. So I don't think national money will ever disappear.

[Pyr3x]

Active use and refusal of people from Fiat will really cause the fall of national money. But if this happens, it will happen in the very distant future, now it is difficult to imagine the complete transition of humanity to cryptocurrency. So Fiat will continue to thrive for a long time.

[131tc01n]

I don't think it affects the fiat currency, because fiat currencies are more inclined to the economic conditions of a country. Fiat in my opinion is still very necessary because not all can transact through cryptocurrency, where cryptocurrency is still constrained by the many fees

[leetcoiner]

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?

At the moment, bitcoin and all cryptocurrencies are in puberty, if I may say so. All these metamorphoses and jumps in the rates only once again prove that we see the formation of a strong and completely new concept of using money. How long this period will last is unknown, but for 10 years it is a very good aging period.

[CryptoToxicAvenger]

I believe that bitcoin will not be able to completely replace Fiat money. It will be very problematic. Definitely its use will be active, but only on a large scale.

[zhengqi]

Bitcoin will definitely be used in many countries. With the help of it is very convenient to transfer funds, it opens up great opportunities. These may not be able to be ignored by governments for a long time and sooner or later it will be firmly embedded in our lives. Can bitcoin completely replace Fiat money? I guess not. This will completely change the economy and depreciate them.

[Rooster101]

Bitcoin is created as an alternative currency with no intention to replace other currency or reduce their values. It is natural for the value of the native currencies to go down or up because of its supply and demand but because of the cryptocurrencies. These native currencies are centralized or controlled by the governments and they have the ability to control also the value of the native or national currency.

[DennyPen]

I would rather bet on most countries inventing their own crypto and forcing people to use them. Only what you fully control can bring you maximum profits and give perks. So that would be a logical step from authorities. However, will they have enough power to make people use their own "better" crypto, that's an open question. But most likely "yes."