Will usage of bitcoin reduce the value of native currencies?

[basyang]

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 doest affect that the value of native currency fall down if the usage of bitcoin increases, instead the native currency will get high if the Bitcoin price in the market rise. The usage of bitcoin does not affect the value of a native currency. Even though we have bitcoin still the native currency is regulated by the government and we still need fiat in our daily transactions.

[Bennix]

I don't think the usage of bitcoin will reduce the value of native currencies rather it will add more value to native currencies.similarly, bitcoin will complement native currencies by adding more economic  value to it.For example, we all know that people find it very difficult to transact and do businesses using traditional financial method,and this has been bedeviling business activities in so many countries.
However, when bitcoin is integrated in the financial paymemt system in a country,there is high tendency that people from various part of the world will purchase whatever goods they want ,and with blockchain technology backing bitcoin every transaction made will appeared clearly.So,when the businesses activities done using bitcoin progresses,in one way or the other it would directly or indirectly affect the economy which inturn add value to the native currencies

[Roukawa]

There is no connection between digital currency and fiat currency. In fact, USD will not fall once the value of bitcoin goes up. Unless they have only one usage. But in this case, they are use in different aspects. Bitcoin is for investment while fiat is to buy our daily consumption. It does not affect the price of dollar since USD does not based upon the value of BTC.

[rodskee]

Thats is not true fait and Bitcoin was have different usage
Fiat money control by the government and each country
Bitcoin as digital currency the value is base from the dollar rate
So nothing can affect from the negative money or local currency
Country accepting bitcoin are get benefit because bitcoin base on dollar rate they can buy dollar using bitcoin

[Vickyrichy]

Native currencies are one thing Bitcoin can't make its value to depreciate, as it stands now native currencies are like the backing asset to  bitcoin and other cryptocurrencies. What bitcoin can have some affects on are the banks. Bitcoin presents financial freedom to everybody no matter where you find yourself in the world.

[saumang2m]

I do not think the use of bitcoin can reduce the value of indigenous currencies. Because Bitcoin is a crypto currency. Whose market is independent. And many countries have valid the crypto currency in their country. Despite this, there has not been any difference in the value of their national currency.

[Roidz92]

What do you mean with "value"? Your beloved ( ) fiat currency is worthing 2% less every single year, since many, many years. This is called inflaction. Your usd/eur/pund will worth less and less year over year. It works like this, bitcoin or not.

[strannik1998187]

Hundreds of factors are involved in the formation of the price of any Fiat currency: it is the country's GDP, and its place on the political map, and holding imports depending on it. But in the calculation, on which the bitcoin rate depends, these introductory do not participate: ordinary miners issue crypto currency, and their personal savings can not be considered as a security of a digital asset. .

[Harrisonimo]

I don't see the devaluation in the fiats as a result of more usage of the bitcoin/cryptocurrency. The only time it can affect the fiat is when and if the bitcoin is fully adopted as the main currency being spent in a country. But at the moment, we are not having this as the cryptocurrency is still finding its feet fully.

[Finestream]

I don't see the devaluation in the fiats as a result of more usage of the bitcoin/cryptocurrency. The only time it can affect the fiat is when and if the bitcoin is fully adopted as the main currency being spent in a country. But at the moment, we are not having this as the cryptocurrency is still finding its feet fully.

I agree.I'm sure the government will not permit this to happen.It will always make its regulations for cryptocurrency.For now,i still don't see the competition between cryptocurrency and fiat currency since there are still only few countries who have adopted bitcoin already.But once mass adoption happens,this issue will sure to be reopen.

[sgenuine]

There is no connection between digital currency and fiat currency. In fact, USD will not fall once the value of bitcoin goes up. Unless they have only one usage. But in this case, they are use in different aspects. Bitcoin is for investment while fiat is to buy our daily consumption. It does not affect the price of dollar since USD does not based upon the value of BTC.

Absolutely right! It is weird to try making any connection between the cryptocurrency and the traditional money. Even when all people will start using crypto, it will not affect national currency.

[conected]

There is no connection between digital currency and fiat currency. In fact, USD will not fall once the value of bitcoin goes up. Unless they have only one usage. But in this case, they are use in different aspects. Bitcoin is for investment while fiat is to buy our daily consumption. It does not affect the price of dollar since USD does not based upon the value of BTC.

Absolutely right! It is weird to try making any connection between the cryptocurrency and the traditional money. Even when all people will start using crypto, it will not affect national currency.

- Sure, the use of bitcoin will not reduce the value or affect the national currency because most people who know about bitcoin, understand the benefits of it, they always choose bitcoin as their number one investment, they do not consider it as a currency, that will waste the features and value of bitcoin. In addition, the number of users and know about Bitcoin worldwide remain at a very low level and with such numbers, it is difficult to form influential for national currency, this is also the reason why bitcoin can exist so far without being destroyed by the government

[project_delta]

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?

Though it was intended to be like that, I don't think that cryptos will ever replace fiats completely. Since, it would be a long  process and it would have some very big loopholes that need to be taken care of. In the mean time, why don't we all focus on making crypto better, eradicating every problem that comes with it?

[jollydart]

I think for this to happen BTC must be available and the best option of payment in any part of life. My long term hope is this but we are talking about much into the future.

[drumamat]

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?

By and large, bitcoin is created to unite people and remove borders between States.Someone is mining bitcoin and selling it for Fiat and someone buys it.(within the borders of one country).The total capitalization of bitcoin today is 73 billion dollars.That is, it is unlikely to radically reduce the cost of its own currency.Even if hypothetically imagine that all mined bitcoin is within the same country it will be unlikely.The fact is that all extracted bitcoin is scattered around the world, and it is unlikely that it will unite with all holders and somehow affect the value of any national currency.

[Bitdressa]

of course not because the real thing that has an increase and a decrease in price or currency is actually bitcoin which can sometimes fall very badly, now starting from here we have to be smart in carrying out this investment.

[b3llsf1l3s]

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

what you say is reversed, FIAT is still good, what value is down?
even altcoins that only have a pair with USDT even remain stable and can still go up, precisely if the pairing with btc altcoin will worsen the atmosphere, people still sell altcoins with btc pairs, then they sell again with FIAT pairs. that's the plot. If it is intended for investment, it will be seen that BTC and Alts look good. But to get ROI, I'm sure you will definitely return everything to FIAT

[Sexie]

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  now will happen. Bitcoin  as a digital  currency has been created  for  every online transactions If the usage will increases, The demand is high and it will give better effect  of course to the native currency. But it depends upon the volatility of bitcoin. Still we need native currencies as the central banks  to monitor and control the economy of the country. We still both need them for the better future.

[Sihab76]

Naturally it would be happened because day-to-day people concerned with bitcoin, blockchain, online virtual currency and they lost their agreement from Fiat native currency. So just be natural.

[bdc2343]

Naturally it would be happened because day-to-day people concerned with bitcoin, blockchain, online virtual currency and they lost their agreement from Fiat native currency. So just be natural.

And according to the phenomenon that I recently observed is that if it continues to be a replacement for the currency and a common currency for all sectors and people. As I see it, this is no longer a movement but a new personality, new behavior in the future. And I'm happy if it comes any sooner in the near future .