Quote from: MahaRamana on November 29, 2013, 06:41:25 AM

Quote from: vps15 on November 29, 2013, 06:25:38 AM

look im just saying, the only reason why people think btc can go to $10000 is because if enough people start using it so much that it becomes accepted everywhere, such that the only reason why it would be worth $10000 per BTC is because fiat would become essentially redundant or worthless.

I don't think so.

If fiat would become redundant or worthless due to bitcoin success, we would be looking more into $10 000 per mBTC rather than $10 000 per BTC ($10 million per BTC)

But that would be measuring using today's USD purchasing power. If USD becomes worthless and redundant, nobody will give a mBTC even for $10 million... So in this extreme scenario you need to use another unit of value. 1 ounce of gold is quite good.

I don't see fiat becoming redundant tough. That's an extreme scenario.

right well the 10k is just an arbitrary round large number, it has been used a lot before so thats why i was quoting 10k

complete redundancy of fiat is a rather extreme scenario, but the ideas and reasons behind 10k are still relevant due to btc's finite amount 21m
im saying btc would make fiat more redundant than it is now