Bitcoin can replace fiat once in 213000 dollars

[Kate]

Heya stakers , 

According to an UBS report bitcoin will replace fiat but only when it hits 213000 dollars. 

Btc cant be used as a normal currency because of its non steadiness of price.

So what are your thoughts ?

Would bitcoin replace fiat ? For me no it wont since btc price can be brought down whenever a whale wants so I am going for no.

Source : https://bitcoinist.com/ubs-bitcoin-replace-fiat-money-213000/

[Mateusz]

Non steadliness price? The only reason for that is the price of bitcoin which is ridiculously small, I don't think we will have 10% price jumps after we reach a decent price level

[Kate]

1 hour ago, Mateusz said:

Non steadliness price? The only reason for that is the price of bitcoin which is ridiculously small, I don't think we will have 10% price jumps after we reach a decent price level

Since Bitcoin price is very volatile that's why it can't be used to replace Fiat

[SUPREMOCOC]

Well fiat might not be replaced by bitcoin, but I am sure it will be a very important active in the near future.

[wry]

The article is saying that in order to be as valuable as the current USD money supply, BTC would have to reach 213,000 USD each.  Actually, I'm a little surprised it is that LOW.

I don't think anyone seriously thinks of BTC as replacing USD or many other major national currencies.  As a decentralized payment system, it seems to me to be best used in conjunction with centralized payment systems that use national currencies.