Chances of BTC surpassing the value of Fiat Money

[Buttermellow]

Bitcoin can change fiat currency system especially if many people will going to use bitcoin and might be adapted as well but it can also destroy the economy due to the fact that bitcoin has no stable value and could also depreciate instantly when whales going to trade it to other crypto as well. So, bitcoin should not be mixed up with the community and it should be run independently just like what we have now. To bitcoiners, this is our only chance to escape and beat the inflation rate just like gambling but having a better chance of winning that if you know when to buy and sell bitcoin.

[MCobian]

For me now Bitcoin has surpassed the value of fiat money, and both of them still exist. In my opinion Bitcoin will not
be able to replace fiat money, because the government will not allow that to happen. So very few countries allow Bitcoin
as payment, so Bitcoin will be more attractive as an investment.

[usekevin]

Sorry if the topic sounds logically flawed I didn't dig much deeper into the financial fantasies of such.

I'm wondering what if one day Bitcoin goes so high up in value that it causes somewhat a fiat crisis? 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?

Actually the thought is very closer to the usd and other fiat. The US dollars always submerge the price of fiat many country. Mostly it affected the price of Asian countries fiat.So it was more crisis to the economy of Asian people and dominated the Asian by the mean of currency. All this was planned up to make sure of developed country on top.

[Oceat]

This is also a concern to me. I've been thinking, what will happen when more than 50% of the world uses a currency that doesn't depend on fiat. I'm afraid it may bring crisis beyond what we think.

How did you know that 50% of the total population uses a currency like what currency are you talking about? How on would it bring crisis just because the price of BTC surpasses the value of fiat, don't you know that Bitcoin uses sats if ever the value increases? Well, luckily we won't be seeing those painstaking days because I'm sure we're all dead by the time it reaches that price.

[Rengga Jati]

Do you mean by fiat crisis is about the crisis where the fiat value is very small?
If it happens, it may not happen in all countries at once time. that is why it may not be globally done. however, if it is talking about one country, it may be probably. Like what happens in the countries where their fiat has no value anymore compared to USD, they prefer to use Bitcoin, they can get BTC as payment and also assets of course. But it may be also difficult because we must also have good agreement with the governbment. they will never let the power and role into others than them.

[layoutph]

It might surpass the value of fiat but that day is not now.  Value of dollar must crashed first before crypto will overcome everything. When people started to dump and stop using their fiat then they will use bitcoin. 

[kemoglo]

Sorry if the topic sounds logically flawed I didn't dig much deeper into the financial fantasies of such.

I'm wondering what if one day Bitcoin goes so high up in value that it causes somewhat a fiat crisis? 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?

WOuldn't this fall under price speculation? Anyway, I don't know, the global FIAT market cap is far too high, would it be nice? Yes, but also I wouldn't bet on it. Though I do think that current BTC is far undervalued, I honestly have no idea how far up it'll go, and anyone telling you otherwise might not "know" for sure, and just believes it'll go that far up.

But again, it would be pretty awesome.

[xnarf]

Fiat is currently the standard of our world's financial system. However with the constant inflation and the US as well as other nations printing money. Fiat is inevitably losing value due to inflation and will die out.
It wont happen soon, but definitely in the near future.
This is when bitcoin will come and save the day 

[pixie85]

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?

The rule of supply and demand will make sure there's always enough fiat money to buy your bitcoins and if there's not somebody will make more to satisfy the demand

Fiat money can be printed, bitcoin's not. Fiat money have unlimited supply. Even with 1 bitcoin being worth 5 millions of dollars there's still going to be more than enough fiat to buy everything out.

[oktana]

This is also a concern to me. I've been thinking, what will happen when more than 50% of the world uses a currency that doesn't depend on fiat. I'm afraid it may bring crisis beyond what we think.

How did you know that 50% of the total population uses a currency like what currency are you talking about? How on would it bring crisis just because the price of BTC surpasses the value of fiat, don't you know that Bitcoin uses sats if ever the value increases? Well, luckily we won't be seeing those painstaking days because I'm sure we're all dead by the time it reaches that price.

Hold up mate, just imagine 90% of the world using bitcoin and no longer interested in fiat. Fiat has always been a way that the government make money. And now, it becomes a currency no one wants. Firstly, it'll greatly reduce the value of the fiat as not much people care about it any more. And at such extent, there could be a financial crisis in that country. I'm a big supporter of Bitcoin but we need to also look at the disadvantages it brings.

Adding to that, I think that it is best if everyone is allowed to bitcoin on a condition that they do not totally abandon fiat. Because if they abandon fiat, like I said, it can bring financial crises to that country.

[pawanjain]

Sorry if the topic sounds logically flawed I didn't dig much deeper into the financial fantasies of such.

I'm wondering what if one day Bitcoin goes so high up in value that it causes somewhat a fiat crisis? 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?

Well in that case they can use other assets along with fiat for buying bitcoin.

Imagine paying few billion dollars along with a house (real estate property) for few bitcoins.
or
Imagine paying few billion dollars along with gold for few bitcoins

Not only assets but also things like cars, motorbikes, ships, planes etc...

That's the specialty of bitcoin  Bitcoin can be bought with anything. 

[palle11]

This is also a concern to me. I've been thinking, what will happen when more than 50% of the world uses a currency that doesn't depend on fiat. I'm afraid it may bring crisis beyond what we think.

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.

[XZERO1]

I'm wondering what if one day Bitcoin goes so high up in value that it causes somewhat a fiat crisis? 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?

That's not an impossible scenario but it's a bit unlikely to happen that soon because governments are going to intervene and remove the extra cash that is floating around to keep the current value around the same.

If cryptocurrencies or bitcoin gains a huge popularity, like a time comes than 90% of the population of world are using crypto instead of Fiat then it really could lead to a crysis for Fiat but not price wise though but it just devalues the use cases of Fiat and eventually in next 50-60 years they have to remove Fiat completely, but you can be sure that before it gets to that point governments make their own crypto and with new tax laws and coming up with new restrictions will make sure everyone use their own crypto, so they will try really hard to delay the removal of Fiat which would eventually be replaced by one or multiple true decentralized cryptocurrencies.

[verita1]

According to the vision of some in our crypto space, it is that we will one day stop using fiat for crypto.
Everything will undoubtedly take time. If there is a shortage of cash we will always look for the best alternative that works for everyone.

An example in Venezuela there is a shortage of its local currency (bolívar). Citizens turn to the dollar to buy goods and services and those who do not have a bolivar or dollar can buy their goods and services through electronic banking.

Recently, payment with bitcoin and crypto is being introduced in some stores such as pizzerias, pharmacies and supermarkets.

By this example I mean that all parts should work. If there is a shortage of cash there should be a ready population using bitcoin to replace fiat.

[kentrolla]

No I don't think this could cause some serious impacts on Fiat money like you said, also the government is on the top to rule their country they will not say no to Fiat so easily. I agree BTC has surpassed many assets like gold etc but there is a logic behind Fiat currency which can't be changed in future also I believe the government's will not accept such instance to happen.

[F457R4k]

MARK MY WORDS-THE MACHINES DO NOT RECOGNISE PAPER,JUST CODE.WELLCOME TO THE AGE OF THE MACHINES.WHEN YOU NEED A SERVICE FROM THE MACHINES,YOU HAVE TO PROVE YOU'VE GOT THE MEANS,NOT JUST GREEN PAPER,SO BASICALLY IT IS IRRELEVANT HOW MUCH THE FIAT VALUE OF THE TOKENS WILL BE

[Asuspawer09]

Sorry if the topic sounds logically flawed I didn't dig much deeper into the financial fantasies of such.

I'm wondering what if one day Bitcoin goes so high up in value that it causes somewhat a fiat crisis? 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?

Bitcoin undoubtedly has a very high market price in the market and high value than fiat money. But fiat money is just the main currency that can be used in a country.

It might not cause any impact since the market price could always continue to increase, and if you want to spend it the best thing to do is convert it first to a fiat since bitcoin was not yet accepted in some countries or stores. So the value of the fiat would just depend on the country that is why different fiat currency has a different value.

In the future, it might be a digital transaction that could be our future or could even be crypto but I guess it was just an improved version of fiat money.

[Oceat]

This is also a concern to me. I've been thinking, what will happen when more than 50% of the world uses a currency that doesn't depend on fiat. I'm afraid it may bring crisis beyond what we think.

How did you know that 50% of the total population uses a currency like what currency are you talking about? How on would it bring crisis just because the price of BTC surpasses the value of fiat, don't you know that Bitcoin uses sats if ever the value increases? Well, luckily we won't be seeing those painstaking days because I'm sure we're all dead by the time it reaches that price.

Hold up mate, just imagine 90% of the world using bitcoin and no longer interested in fiat. Fiat has always been a way that the government make money. And now, it becomes a currency no one wants. Firstly, it'll greatly reduce the value of the fiat as not much people care about it any more. And at such extent, there could be a financial crisis in that country. I'm a big supporter of Bitcoin but we need to also look at the disadvantages it brings.

Adding to that, I think that it is best if everyone is allowed to bitcoin on a condition that they do not totally abandon fiat. Because if they abandon fiat, like I said, it can bring financial crises to that country.

You should consider also the downside of Bitcoin and I'm sure it won't touch to even closer to 90% that's why fiat is still a valuable asset that we can hold physically. Financial crisis is always on the line once there's a corrupt politicians sit in the government that's why I can't certainly tell if would be a great use in the future but I'm sure it will give the advantage in trading money all around the world.

[Silberman]

Sorry if the topic sounds logically flawed I didn't dig much deeper into the financial fantasies of such.

I'm wondering what if one day Bitcoin goes so high up in value that it causes somewhat a fiat crisis? 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?

We are already seeing in a very small scale what you are proposing, bitcoin is almost worth 20k, how many people can afford to buy a single bitcoin? Even people in developed countries do not have any savings so they cannot afford bitcoin at all, however that is not going to be a problem for bitcoin, that is going to be a problem for fiat currencies, because as the value of bitcoin keeps growing governments will begin to see that everyone will try to put their money in bitcoin and I think a day will come in which in many countries bitcoin will be illegal precisely because of this reason, but then the will of the people will force governments to change course and accept bitcoin once again.

[marcous]

Currently, payments are slowly being made digitally.  In the future, money is no longer cash, all digital, so the process of creating money will change greatly.Bitcoin and fiat are two different things in value, I mean the value of their volatility.  And fiat inflation has nothing to do with Bitcoin.  The bank will never run out of fiat money, because every withdrawal is limited by the bank.  I'm sure people who have lots of Bitcon must have bought it cheaply, not as high as it is now.  they should know the risks of buying a lot of Bitcoin now.  And I am sure that the government and banks will anticipate this by supporting the integration of the national digital financial economy so that it can guarantee the function of the central bank in the money circulation process, monetary policy and financial system stability, as well as supporting financial inclusion.