Will usage of bitcoin reduce the value of native currencies?

[setialovers]

I strongly believe in the prospects of bitcoin and that it will be a single global currency. But unfortunately, there are so many people who will continue to use Fiat no matter what. Therefore, I do not think that there is a serious problem of replacing national money with bitcoin. They will be used in parallel.

I think hard for bitcoin become world single currency because most country in the world againts bitcoin. I am believe bitcoin can side by side with fiat money but i dont think bitcoin can be a single currency and replacing national currency

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[ranman09]

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.

I agree. This is possible but it is hard for cryptocurrencies to cope. Investors of bitcoin or any other cryptocurrencies are always looking for the fiat conversion.

For the sake of OP's question, yes I think it will decrease the value of fiat. People will more be concentrated on one medium and so it will decrease the other medium. Though I know the government will never let this happen.

[Nanda Dewi277]

Even if this happens, it is not very soon. It is unlikely that people very quickly switch from the usual national currency to the use of bitcoin. For example, in my country, not all people even use a Bank card, let alone a digital currency.

Certainly, bitcoin and national currencies have advantages in their respective fields, these two currencies will not clash. both will run together in their fields. I think bitcoin will only be a strong alternative intermediary. Bitcoin users who are increasing will not affect the value of the national currency.

[Crafts12]

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.

I couldn't agree more. Bitcoin being use by a massive number of people will not reduce the value of the fiat currency for a reason that bitcoin does not replace it completely and for that the value of fiat currency stay the same. Also as what you have said, governments will not allow it to happen because fiat currency is still what they want and whay they control.

[jerrison]

it is already a thing that people have made up their mind on. the idea of native currencies don't rule the finance industry that much again if you ask crypto die-hard fans. it is crypto all the way even 60 percent of online transaction are now crypto. the global adoption of crypto will see the elimination of native conventional money

[conected]

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.

I couldn't agree more. Bitcoin being use by a massive number of people will not reduce the value of the fiat currency for a reason that bitcoin does not replace it completely and for that the value of fiat currency stay the same. Also as what you have said, governments will not allow it to happen because fiat currency is still what they want and whay they control.

- I really don't see bitcoin being used by a large number of people if we compare the number of users to the world's population, the percentage is extremely low, and with such data, using bitcoin will not reduce the value or affect the native currency. In addition, most users only use bitcoin for investing, trading altcoin, they never plan to use bitcoin as a currency, and as you say, the government does not allow this to happen, this is not a legal currency, combining all the information, we can see the impact of using bitcoin on native currency is almost zero