Quote from: serjent05 on November 28, 2016, 04:23:42 PM

Quote from: MWesterweele on November 28, 2016, 04:03:23 PM

Quote from: LegendaryMiner on November 20, 2016, 05:04:13 PM

I don't think that makes much sense. It is possible that Bitcoin reaches this value someday, but it will not make people stop using fiat. To gain more users, Bitcoin must first reach more people willing to sell goods and services for Bitcoins. In this way, there will be greater liquidity in the market, and over time Bitcoin will gain more stability. This will give more confidence for people to use Bitcoin as a currency.

If the value of bitcoin rich on this point it is really possible bitcoin has a good potential to become more than this in pricing i always visiting markets and bitcoin is really good. You can just make profit when you are trading bitcoin into another currency not because bitcoin is not stable because it is really good income source.

But this does not make fiat worthless. What ever happen to the price of bitcoin, fiat will always be used in daily lives. If you just think of it, all the opportunity given by bitcoin already given by fiat, but the advantage is that, there is less competition with bitcoin.

Fiat won't go away in the foreseeable future, and that goes without saying

But similar to other such cases, it all depends, and the real question should be whether today it will be the same fiat as it was yesterday. If one fiat gets replaced by another with the first losing all of its value due to hyperinflation, it would be a completely different story, very much like what happened in the Weimar Republic in early 1920s. After the Deutsche Mark, the currency of that country, totally devalued in a matter of a few years, the government was forced to substitute it first with the Rentenmark backed up by bonds and later with the Reichsmark backed up by gold