Quote from: agustina2 on October 21, 2016, 04:54:35 PM

Quote from: AdolfinWolf on October 21, 2016, 02:39:28 PM

Quote from: agustina2 on October 21, 2016, 02:29:58 PM

Quote from: Shibashi Dogemoto on October 21, 2016, 07:45:33 AM

I don't think that fiat will ever become worthless even price of bitcoin reaches to the moon as everyone is dependent on it for living and even if we have to use bitcoins we need to convert them to fiat first to spend them.

If bitcoin price reached $10,000 then definitely we can see a massive conversion of bitcoin into fiat.

Now if fiat is worthless when that day comes, then no one will convert and it's useless now for a dream price since all in all 1btc=1btc.

Bitcoin is all digital, Exactly.
That is why Fiat is never going to be worthless,
It is really hard to buy food with bitcoin, especially if there is going to be a crisis etc.

Also fiat is controlled by the government, while bitcoin isn't.

And fiat can take care of physical transactions which is not present and never will be present in most of the places in the world.

Bitcoin needs internet to be used so what if in some cases, there is electricity problem in a certain place? How come they can do offline transaction in bitcoin if in the first place bitcoin is only meant for online transactions.

You are right. The fiat can survive a long time in places where there is no electricity and the internet.