Will usage of bitcoin reduce the value of native currencies?

[Pattart]

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.

means there is a possibility that the value of the native currency will reduce? because when crypto gets more mainstream one day, of course the users of the original currency will decrease because many of them prefer to use crypto, the fewer users the value of the native currency will certainly reduce..

[rafi035]

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?

in my opinion it is not possible because of the different functions and systems between the two currencies but if the crypto currency is legalized the government and the government use crypto currencies to use for the currency that applies

[kokobaba880]

I have used both and i come to know that native currencies are also very important and we can not say that native currencies are not important we have seen that native currencies are now using for transactions through banks and in future blockchain will take the place of fiat currencies.

[toast]

I don't think that is possible because the government does not legalize the crypto currency as the currency that applies to the future, it might be possible

[Seeker#9]

Native currencies has many more users than the cryptocurrencies and it will a lot of years before bitcoin can match the total number of native currency users. People spend more on their fiat than in bitcoin or any cryptocurrency so it is not possible for the virtual coins to reduce the value of native currency. There are alsoseveral factors that really affect the value of the native currency like the surge in demands of foreign goods and trade flows, speculations, among them. Bitcoin must be use widely first before it can affect any national currency. 

[Stankcold#]

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

[Sadlife]

Technically yes as the digital currency gets popular people wont bother to use the old banking system like fiat because it's less secure and slow where you can just send lighting speed transactions around the world with no restrictions like regulations. But this will take time because we've not yet overcome the disadvantage of digital currency.

[millionaireshs]

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?

The price value of native currency is actually not connected to the price value decreased of bitcoin try to search and learn more about the flow of bitcoin in GOOGLE and You tube, after that you can just contribute even a little support to bitcoin for additional popularity of bitcoin.

[nellakarisma]

if in my opinion. that's for sure bro. especially in countries that have accepted bitcoin as a legitimate currency such as paper currency. but if in Indonesia. the government still prohibits bitcoin from being used as a tool to buy in the real world.

[Dana-pasar]

I think, there is no connection between fiat money and the development of bitcoin nowadays, because without bitcoin, many people rarely use fiat money because they are often transferred directly from bank to bank

[Tetutu]

I have used both and i come to know that native currencies are also very important and we can not say that native currencies are not important we have seen that native currencies are now using for transactions through banks and in future blockchain will take the place of fiat currencies.

I don't think it will reduce the value of real currencies, because the use of bitcoin as a digital currency remains not as much as the use of real currency. In addition, bitcoin is used by the upper middle class who master technology where not all countries legalize it.

[asus09]

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 this discussion will never be completed until crypto becomes a currency that is legalized in all countries, this certainly concerns bitcoin.
I think that bitcoin in the future will be adopted by all countries in the world and leave Fiat as a transaction tool. but this will certainly require a very long time.

[Mondinic]

it seems like it doesn't, if more and more are benefiting bitcoin like it doesn't really have a big influence on the price of the original currency, and like that we still need fiat to transact in crypto and in the real world. and what I'm still confused about is why the BTC price still goes down even though it looks green even though it's a little.

[gesdan]

no it woudnt happen, as i know that bitcoin usage is not affecting anything, but bitcoin demand and stock is affecting bitcoin price and other cryptocurrency price, but it dont affect the native currency or other currencyS

[qtronix]

Of course, bitcoin can reduce the use of Fiat money. But it won't happen because governments won't let it happen. Bitcoin has many advantages over Fiat money and if it is well embedded in our lives, the use of Fiat money will be useless. Therefore, I believe that bitcoin will exist as a second currency.

[BigBrother]

Now bitcoin is not ready to replace Fiat currencies, for this it needs to solve some problems. But in the future, I believe that he will be a great competition for them. Countries will not allow the depreciation of their currencies and therefore they will not allow bitcoin to take a leading place.

[Rkss4]

How can it possible because bitcoin and fiat currencies are two different... Bitcoin which is controlled by blockchain and fiat money which is controlled by bank and government.

[dreamax25]

Western Union, the financial services company, is looking to have a role in the cryptocurrency space.

https://coincodex.com/article/2782/western-union-executive-discusses-cryptocurrency-says-company-is-open-to-crypto/

[Ucy]

I dont see this happening soon . Cryptocurrency and Fiat are somewhat dependent on each other. youll need to convert your Cash to Crypto to use cryptocurrency and Crypto back to Fiat to use fiat in your country.  
Stabecoins are pegged to fiats, by the way. This i believe will help fiats greatly
 Maybe things will change in the future when p2p transaction with Bitcoin/Crypto becomes common in most countries

[recklessMe]

The value of the national currencies will decrease regardless of what happens to Bitcoin: incompetence and corruptness of central banks and governments will force this process. In the world of devaluated fiats, the top cryptocurrencies hold ground.