coolcoinz
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December 06, 2020, 04:27:32 PM |
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You must mean surpassing the total market value of all fiat money in the world. But that would mean that (I don't have time to do the math here so it's just a random number) 1 Bitcoin would be worth more than 100 million dollars/euro/pounds. I'm sure that if it ever happens the value of fiat money will be the last thing we, early adopters (because that's what we are, believe it or not) will be concerned with. We'll be too busy being flown from one of our islands to the other.
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shata
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December 06, 2020, 07:56:07 PM |
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At the moment, the chances of Bitcoin surpassing the value of the Fiat money is less than 1% in percentage. Even though some institutions had finally recognized Bitcoin as an speculative asset class and some hedge fund managers invested certain percentrage of their portfolio in this asset, it does not give absolute guarantee to say that Bitcoin will surpass FIAT automatically. It will surely take a very lot of time and might take some decades before it will happen. People think that just because a system had some errors, you automatically need another one as replacement. True, banks have problems too, but does not mean it had some issues, you will now say Bitcoin will need to replace them.
Foreign Exchange is one of the biggest market today which are behind it and major players are the banks. Banks plays a very important role in one country. And you cannot just immediately replaced it with Bitcoin (digital cash). FIAT was there ever since human kind understand the market so it is very hard to replace them.
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oktana
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December 06, 2020, 10:12:10 PM |
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I don't see why bitcoin will become much more valued than fiat, you don't need such fear. Bitcoin is not more than 21 million and some has been lost because access have been lost to them, meaning less than 21,million remaining. For fiat, every country has their fiat and can print more at times they are needed. You see there can't be a time that the world will run at of fiat to go after bitcoin no matter the price for it at that time.
For real? On a daily basis, Bitcoin keeps getting adopted. When talking of value, I'm not looking at the price difference between BTC and fiat money. I'm looking at that which people will want more. Bitcoin's advantages is more than it's disadvantages and this brings in new users. The more new people use Bitcoin, the less they use fiat, and the more stores accept Bitcoin, the more worse it gets for fiat. At a point, people won't want fiat because they can do almost everything with Bitcoin, and like I said earlier, this has the ability to cripple a country's finance. |
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dizzy1996
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MoonDeFi
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December 07, 2020, 07:07:06 AM |
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I believe that bitcoin so far has little chance of ousting fiat from the market, since fiat holds the entire world economy, and if bitcoin crowds out fiat, then a crisis in the world economy may begin, and we know how regrettable, and even more so we should not forget that there are many people who rely on cash and even in such a situation, if this happens, then there will still be a black turnover of cash
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manfredmann
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December 07, 2020, 07:11:11 AM |
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Even now the market of bitcoin or the value as a currency exceeds already the other fiat currency and is now landed in the top rank of fiat currency rank base on its value. Yes, bitcoin is huge already and I think it could be even more going to surpass other big currencies. Well, most of the currencies now are in trouble and that subject for inflation rate especially that we are now in pandemic.
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The Cryptovator
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December 07, 2020, 02:13:59 PM |
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I mean imagine, you've Bitcoins but there isn't much cash available in the market to buy your BTC, or simply put people can't afford it? Will bitcoin be of any value then?
Yes, still there will be value. Because many peoples can't afford to buy 1 Bitcoin currently but they have been buying in satoshi. Then the same thing will happen if BTC surpassed fiat value.I don't think the price will go out of reach, but if it does, there would be an upgrade chain with more decimals. So, then everyone would buy that. Also don't think there will not any Bitcoin competitors in the future. Who knows if bitcoin exist or upgrade in new technology after a hundred year? |
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AndySt
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December 09, 2020, 11:32:10 PM |
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I mean imagine, you've Bitcoins but there isn't much cash available in the market to buy your BTC, or simply put people can't afford it? Will bitcoin be of any value then?
Yes, still there will be value. Because many peoples can't afford to buy 1 Bitcoin currently but they have been buying in satoshi. Then the same thing will happen if BTC surpassed fiat value.I don't think the price will go out of reach, but if it does, there would be an upgrade chain with more decimals. So, then everyone would buy that. Also don't think there will not any Bitcoin competitors in the future. Who knows if bitcoin exist or upgrade in new technology after a hundred year? In fact, it often happens that the value of something on the contrary depends on rarity, not universal availability, and I think this also played a role in creating bitcoin with its limited number. Although for many people to strain too many zeros after the decimal point. Also, let's not forget about alternative coins, which will definitely continue to have their share of the pie and allow the mass of people to join the world of cryptocurrencies. |
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BuNga_cute
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December 09, 2020, 11:45:13 PM |
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It doesn't matter if Bitcoin surpassing the value of fiat, because we can still buy Bitcoin. Even though we can't buy 1 Bitcoin,
but we can buy in satoshi. Because to own Bitcoin we don't have to buy 1 BTC, so the price of Bitcoin, however expensive,
still can be bought. And no need to worry that Bitcoin will replace Fiat money, which the government was afraid of. Because
Fiat money is very much needed, I am sure Bitcoin and Fiat money will co-exist.
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Silberman
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December 10, 2020, 08:23:47 PM |
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You must mean surpassing the total market value of all fiat money in the world. But that would mean that (I don't have time to do the math here so it's just a random number) 1 Bitcoin would be worth more than 100 million dollars/euro/pounds. I'm sure that if it ever happens the value of fiat money will be the last thing we, early adopters (because that's what we are, believe it or not) will be concerned with. We'll be too busy being flown from one of our islands to the other.
Correct, if at some point bitcoin begins to approach that kind of value then it will become unstoppable, surely a bubble will form once again and will probably be the biggest bubble in the history of the world and governments will try to stop it to avoid the destruction of their fiat currencies, but as we know forbidding something does not work and people will keep investing in bitcoin until it reaches an incredibly high value, also it is fair to wonder if the fall of fiat currencies themselves because of a huge crisis is going to be what will finally convince people of the superiority of bitcoin and it will make people to invest in it. |
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Walterhank
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December 21, 2020, 06:07:41 AM |
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I think both will coexist. One can't exist without the other, there will always be a need for crypto as well as fiat. Yeah, there could be a time when using crypto will become easier and it will become mainstream.
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Zemomtum
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December 31, 2020, 09:53:32 AM |
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BTC will still be converted to fiat before it can be sent presently and I don't see everybody adopting digital payment. Some will never be comfortable with it, as long one is going to be converted to another before it can be spent, I don't see it surpassing the Fiat currency
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