Post
Topic
Board Economics
Re: If bitcoin price is $10.000, will fiat be worthless?
by
robertkedves
on 11/10/2016, 12:01:32 UTC
In one of the topics I read "If bitcoin will reach $10.000, fiat currency has become worthless"
Do you agree with this statement?

Not at all. Even if BTC will be $100.000 fiat will have value.

The reason why fiat, btc, eth, xmr, etc has any value is because us (users) are trusting it and using it.

Why is valuable a $20 bill?

There’s nothing inherently valuable about a $20 bill. The bill has a value because we’ve all decided it should.

Money is about the exchanges and the transactions that we have with each other. Money it’s about a collective story that we tell each other about value.