if bitcoin was main currency, what's gonna be the BTC value?

[Bohfin Legasof]

BTC was created with a new transaction system without a central authority. The BTC can be used in the future as the main currency that we gonna pay with. But what's gonna be the value of a main currency? What's the value of dollars or eur?

-Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.

If BTC is gonna be used in future, it not gonna cost anything, because the BTC is gonna be the value. It not gonna be like Bitcoin cost 50,000dollars... Bitcoin not gonna cost anything because Bitcoin IS the value. But that's probably not gonna happen. We not gonna pay with BTC but with stable coins like USDT...

[Jating]

Not sure where you get the idea that bitcoin can and will become the main currency in the future, because I doubt that it will happen. But in any case it will, I have no idea what will be the value of bitcoin, it still depends on the basic economic concept of law of supply and demand. Again, will the government allow bitcoin to be the main currency though, and we all know the answer for that one, they won't simply let that happen to their USD, and there's no way that any crypto will be for that matter.

[BitcoinAccepted]

Not sure where you get the idea that bitcoin can and will become the main currency in the future, because I doubt that it will happen. But in any case it will, I have no idea what will be the value of bitcoin, it still depends on the basic economic concept of law of supply and demand. Again, will the government allow bitcoin to be the main currency though, and we all know the answer for that one, they won't simply let that happen to their USD, and there's no way that any crypto will be for that matter.

I agree with you. And I personally think that if there would be a main currency, that would be something that can be controlled by the government for sure. But in hypothetical manner, I wouldn’t also have an idea as to what will be the value of bitcoin, if it were to be the main currency then. Maybe we’ll just know when we get there, if we ever get there.

[virasog]

Not sure where you get the idea that bitcoin can and will become the main currency in the future, because I doubt that it will happen. But in any case it will, I have no idea what will be the value of bitcoin, it still depends on the basic economic concept of law of supply and demand. Again, will the government allow bitcoin to be the main currency though, and we all know the answer for that one, they won't simply let that happen to their USD, and there's no way that any crypto will be for that matter.

I agree with you. And I personally think that if there would be a main currency, that would be something that can be controlled by the government for sure. But in hypothetical manner, I wouldn’t also have an idea as to what will be the value of bitcoin, if it were to be the main currency then. Maybe we’ll just know when we get there, if we ever get there.

That's what i was thinking about bitcoin adaption. If the government has no control over bitcoin, it will never allow it to become the major crypto currency of the world. And if the government has control over it, they will definitely control its price somehow.

In an ideal world, if bitcoin becomes the main currency and is used by every individual of the world, then for sure it price will be more than 10 million dollars or even more.


 

[witcher_sense]

BTC was created with a new transaction system without a central authority. The BTC can be used in the future as the main currency that we gonna pay with. But what's gonna be the value of a main currency? What's the value of dollars or eur?

-Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.

If BTC is gonna be used in future, it not gonna cost anything, because the BTC is gonna be the value. It not gonna be like Bitcoin cost 50,000dollars... Bitcoin not gonna cost anything because Bitcoin IS the value. But that's probably not gonna happen. We not gonna pay with BTC but with stable coins like USDT...

The value of money is expressed through its purchasing power, which in turn is expressed in the number of real goods that you can buy with money. If a loaf of bread costs one dollar, that means the value of one dollar would be one loaf of bread. The dollar itself doesn't have an intrinsic value, it is not used for industrial purposes like gold is, so the only use case of the dollar is as a medium of exchange. Similarly, bitcoin doesn't have any additional use cases besides the medium of exchange, but it is superior to both gold and the dollar because it combines the soundness of gold and the transportability of the dollar. People that appreciate this superiority of bitcoin are willingly accepting it in exchange for services and goods. That is why bitcoin has value.

[mk4]

Except that bitcoin being the "main" currency doesn't automatically mean there will not be alternatives. Because what are the chances that bitcoin will be the only existing currency? Near-zero that you might as well say that it's impossible.

[Beparanf]

BTC was created with a new transaction system without a central authority. The BTC can be used in the future as the main currency that we gonna pay with. But what's gonna be the value of a main currency? What's the value of dollars or eur?

-Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.

If BTC is gonna be used in future, it not gonna cost anything, because the BTC is gonna be the value. It not gonna be like Bitcoin cost 50,000dollars... Bitcoin not gonna cost anything because Bitcoin IS the value. But that's probably not gonna happen. We not gonna pay with BTC but with stable coins like USDT...

If Bitcoin will be the main currency, it's value should be pegged into something that has a stable value and not the typical skyrocket price that everyone here will assume. There's no way too that a decentralized currency will gonna be used by the government since they don't any protection to it's economy once someone try to manipulate the market unlike fiat that has an infinite supply and regulated properly by the government.

[hyudien]

It took me 3x reading this thread to draw any conclusions and what the content of the message was that the OP wanted to convey. IMO, Bitcoin would have no value if there were no Dollars (for now). Because the OP said that in the future Bitcoin is expected to be the main currency, of course, it refers to the value that is in Bitcoin, not to the value that is currently converted to Dollars.
Who will control the authority of Bitcoin if later the value applied to payments is no longer Dollars? but rather Bitcoin itself. Because everything can not be predicted, even we ourselves are not 100% sure that makes Bitcoin the single main currency of the world. Given that there is no guarantee or measure of its value.

[fiulpro]

Stable coins are only good for trading.
The reason why someone might not be using normal USD and using stable coins like usdt instead of just paying in general currency is weird. They can very easily use the pegged currency. Rest if bitcoin was the main currency then it would be acting much like other major fiat currencies, like dollars or Euros. Plus it would also be less volatile, the volatility would increase in the first session when the currency would be widely accepted but slowly it would decrease and become constant to cater to the need since a currency should be : widely accepted and non volatile to fill roles of fiat worldwide.

[Pahom]

Actually, we can estimate the value of dollar and other fiat money as well. First of all, the value of currency can be taken as the value of economy of the country that releases this currency. One more thing of how we can estimate their value is to think about how much we can buy for one unit. As bitcoin is the global currency, we would not be able to think about it like value of economy of one country so we would estimate it based on how much we can buy on one BTC

[hatshepsut93]

-Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.

Dollar has exchange rate between it and other currencies. Also dollar's value is changing, and economists use various methods to calculate this change. There is not a single thing in this world that has a fixed value, because value in market economy is subjective and unstable. Just because people like to measure everything in dollars, doesn't mean that dollar is vastly different from other currencies. So if Bitcoin replaced the US dollar, it would still have a price in US dollar and other fiat currencies.

[franky1]

if there was no dollar/other fiat to exchange to value it against. then it reverts to a barter system. where some can compare it to bottles of vodka, or a hour of minimum wage units or some other nationally recognised medium of exchange.

EG if people traded their time and valued it in how many loaves of bread they can buy per hour.
then right now bitcoins value would be about 30,000 loaves of bread

bread is a bad example as different regions value bread at different labour value, but you get the idea.

some may say that the value could be more refined to something everyone pays equally. such as electric. so bitcoin could be valued at 126060kwh/btc

[pushups44]

BTC was created with a new transaction system without a central authority. The BTC can be used in the future as the main currency that we gonna pay with. But what's gonna be the value of a main currency? What's the value of dollars or eur?

-Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.

If BTC is gonna be used in future, it not gonna cost anything, because the BTC is gonna be the value. It not gonna be like Bitcoin cost 50,000dollars... Bitcoin not gonna cost anything because Bitcoin IS the value. But that's probably not gonna happen. We not gonna pay with BTC but with stable coins like USDT...

BTC will continue to be traded with the dominant currency pairs, so it will be reflected as BTC/USD, BTC/GBP, BTC/EUR, BTC/JPY, etc. BTC will also be traded with other cryptocurrencies, just as it is now. As its use increases, its price will of course increase relative to fiat currencies.

People should stop thinking that fiat currencies will go away, because they will also always have some utility, especially for governments. Cryptos and fiat can coexist.

[Wexnident]

That's just a big what-if though, in the first place I don't think Bitcoin would become the main currency, it was never made to be one in the first place. It was an alternative to the current fiat system afaik, only an alternative and nothing more.  And if Bitcoin were to become the main currency, then wouldn't most stuff revert to the system of the past? Cause honestly with the fiat, we at least have a centralized measure for the values of items and services. Without it though, it's like we're going back to what we were using back in the past, exchanges between merchants that are completely dependent on supply and demand.

[kotajikikox]

BTC was created with a new transaction system without a central authority. The BTC can be used in the future as the main currency that we gonna pay with. But what's gonna be the value of a main currency? What's the value of dollars or eur?

-Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.

If BTC is gonna be used in future, it not gonna cost anything, because the BTC is gonna be the value. It not gonna be like Bitcoin cost 50,000dollars... Bitcoin not gonna cost anything because Bitcoin IS the value. But that's probably not gonna happen. We not gonna pay with BTC but with stable coins like USDT...

your belief does not even have the right to happen . Bitcoin gonna be a Main Currency ? lol this will never come because Fiat will never leave and bitcoin will stay with fiat for lifetime
so the argument you are pointing wont even get close to the reality.

Dont worry Bitcoin value will be determined when the adoption happens , when majority of the country uses and accepted this then that will be the deciding factor if how and why will bitcoin be accepted in payments for daily purpose .

[pooya87]

We not gonna pay with BTC but with stable coins like USDT...

That is never going to happen in a million years.

Centralized altcoins like USDT will be immediately removed from existence by United States if they were used for payment instead of USD simply because they would be printing US dollar which is considered a threat to US and that threat will be eliminated immediately by the government. Since they are centralized, it is a very easy thing to do.

Additionally if people wanted digital dollar, they are already using digital dollar using their digital wallets, paypal, credit cards,.... there is no reason to use a centralized super risky shitcoin.

[KaliLinux]

This is why this talk about Bitcoin will be the main currency of exchange someday is still dicy. Every other commodity or some sought of an asset today is still valued based on fiat USD. GOLD, SILVER, etc are all valued in USD and so is BTC, so you get where I am going. USD is the value of every other thing and once you remove the value, the thing becomes worthless. Bitcoin and other cryptos might be used for exchange or purchase but I don't think it will ever be the main currency.

[sirminesalot]

We not gonna pay with BTC but with stable coins like USDT...

That is never going to happen in a million years.

Centralized altcoins like USDT will be immediately removed from existence by United States if they were used for payment instead of USD simply because they would be printing US dollar which is considered a threat to US and that threat will be eliminated immediately by the government. Since they are centralized, it is a very easy thing to do.

Additionally if people wanted digital dollar, they are already using digital dollar using their digital wallets, paypal, credit cards,.... there is no reason to use a centralized super risky shitcoin.

There are no current exist cryptocurrencies that could replace USD as a global payment, and if there is someday i'm sure it's hard to replace it because the power of the people who controlled the paper fiat money is too strong, they already ruled this world for many generations so i think it's quite imposibble to create an environment where everything is paid by cryptocurrency.

[pooya87]

~
There are no current exist cryptocurrencies that could replace USD as a global payment, and if there is someday i'm sure it's hard to replace it because the power of the people who controlled the paper fiat money is too strong, they already ruled this world for many generations so i think it's quite imposibble to create an environment where everything is paid by cryptocurrency.

Keep in mind that there is a big difference between widespread usage and replacing.
I have always said that bitcoin is never going to replace fiat and it wasn't designed to do that either but I also believe that there will come a day when bitcoin can be used anywhere in the world. For example tourists would no longer need to exchange their fiat to their destination country's currency, they would just use bitcoin when travel.

[molsewid]

Keep in mind that there is a big difference between widespread usage and replacing.
I have always said that bitcoin is never going to replace fiat and it wasn't designed to do that either but I also believe that there will come a day when bitcoin can be used anywhere in the world. For example tourists would no longer need to exchange their fiat to their destination country's currency, they would just use bitcoin when travel.

Yes, I do believe also that bitcoin will not be going and never going to replace fiat currency instead it will be one of the circulating currencies all over the world provided that many countries will be going to adopt crypto as a legal tender. Actually, I don't have any idea yet what would be the value of bitcoin once it is like for example used for any transactions like pay for a set of flights but if ever this would be going to happen I know it would be a breakthrough to a crypto platform and will be going to make the price or value of the bitcoin soar high.