Will usage of bitcoin reduce the value of native currencies?

[Haticem]

Bitcoin does not completely destroy local currencies. However, it will be used with domestic currencies. This has no negative impact on the currencies of countries.

[Koenraad Lange]

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.

Of course it will not affect each other, because the segments are different. For bitcoin, the USD currency is only a value reference for one bitcoin. So anything that happens with bitcoin does not affect the value of USD, and vice versa.

[realcrypto]

Bitcoin is not here to eradicate our traditional fiat currency but to work together with our traditional banking system to bring improvement and make financial transaction accessible to all. Even with email our traditional postal agencies are still in existence.

[Blocktopian88]

It's hard to say value of native currencies will reduce because of usage of bitcoin. Actually, many factors could impact on native currencies' reduction, such as usage of mobile payment and credit card, national economy and so on.

[coinnumber]

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 the use of bitcoin has any effect on the value of fiat currencies beside the goal of bitcoin is to eradicate or affect traditional currencies. I believe without the fiat currencies such as dollar USD it will very difficult to make use of cryptocurrencies in many countries so I will say both work together.

[owlman]

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 other cryptocurrencies) cannot replace Fiat. Digital currencies are used more as a means of investment and value preservation than as a means of payment, so at the moment there is no reason to worry that cryptocurrencies can harm local currencies.

[kalstarzz]

Reducing the use of fiat is not possible with the use of crypto, because currently crypto users still cannot use ceypto anywhere and anytime. however, if crypto is legal throughout the world, fiat usage can actually occur.

[ufalo3]

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.

Crypto and the national cryptocurrencies live their own lives. There is no connection between them. Even when a person is a trader, he will always use fiat and credit cards as well.

[setialovers]

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?

Its like demand and supply, if bitcoin used more than fiat and demand on bitcoin increasing, fiat value must be down againts bitcoin. But maybe its not affecting with others fiat money.

[ansarose1]

I don't think so. Bitcoin can never control of reducing native currency, but i think its on some fiat currencies that bitcoin may affect values of, bitcoin is valuable as a digital currency and not on fiat.

[zoeylee]

I think it's very hard to happen for fiat money is controlled by any government. For we know that cryto currency is decentralized.

[NoirSuccubus]

 I would say that Bitcoin is one of a kind, and you cant compare it with the things we knew before. It is a completely new system, that we need to explore and use.

[Troy-Crypto]

I believe that it will have an impact to the fiat currencies, but not to the value of the currencies. BTC and fiat currencies will adapt to each other and certain alterations will be made in order for both systems to work together. I don't think that it will replace fiat currencies or devalue them, but they will all be present and active in the standard banking system some day. The banking system will have to adjust and alter in order to implement cryptos into its system.

[hildacitra]

I don't think so because fiat currency doesn't depend on crypto currency and vice versa. Even though crypto currency now becoming trend toward digital, it is just becoming an alternative of paper money. Crypto currency has many limitation in usage and it is much depending on electricity and internet connection. However, everyone is free to say and argue about it.

[TheClownSong]

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?

Fiat currency transaction is much bigger than bitcoin transaction but if in the future people prefer bitcoin for their transaction, its could be make fiat value drop. Maybe its because demand on bitcoin increasing and demand on fiat money decrease. Its like market mechanism

[1993jochico]

Fiat currency transaction is much bigger than bitcoin transaction but if in the future people prefer bitcoin for their transaction, its could be make fiat value drop. Maybe its because demand on bitcoin increasing and demand on fiat money decrease. Its like market mechanism

Technically right as long as the usage of fiat currency fall down the value of it will drop also there will be some shortage on fiat because they will surely lessen the money that government made.

[gulshan1]

Really usage of bitcoin will reduce the value of native currencies because it is easy to use and no need carry any where. And there is less chance to lost it. Some where digital currency is increasing by it actual value.

[salad daging]

Really usage of bitcoin will reduce the value of native currencies because it is easy to use and no need carry any where. And there is less chance to lost it. Some where digital currency is increasing by it actual value.

there will be an equation process which in the end becomes the solution of two things that have different systems, in the end fiat will also connote the crypto algorithm and that will happen if all humans are able to adapt to the digital economy. bitcoin is just one of the things that can be learned by them, in the end they can understand better.

[ardhigalau]

I think it's impossible, the supply of bitcoin is only 21 million and if it's used by people all over the world it's impossible. Bitcoin has its own place on its users.

[libert19]

Certainly not. Most bitcoin/cryptocurrency users convert their crypto to fiat for real world use.

If crypto is gonna widely accepted then it could cause some trouble to native currencies but I am pretty sure governments won't let it happen.