Topic: Is Fiat Currency completely irrelevant to cryptocurrency (Read 630 times)
Right now it is totally relevant because people are still depend on fiat not on the crypto and in order to enter in crypto they need to use their feat.
I think for now, Fiat still got relevance when it comes to crypto currencies because it is interchangeable and that is one reason why newbies keep coming on board because they know they can spend it and it is merely digitised and can be converted to fiat when need be
Fiat currency will always be relevant,even to the crypto currency users,as cryptocurrency derives it's value from ones local currency,it is highly impossible for Bitcoin to exist without fiat currency...none of the two is ever going away though as both are highly useful.
The value comes from the community and people who choose to use it and see it as that. It has nothing to do with being backed by something.. It has a finite amount that will be distributed and from there this is where the value grows. Fiat might one day become obsolete as it really has no value and is not really backed by gold anymore. Oh the USA is in debt... let's just print more money backed by nothing.. The whole fiat backed by gold was lost along time ago, and this is what is creating the issues in the world and I can see this being one of the reason's why crypto was made in the first place. Good riddance.. the creation of crypto is a fucking blessing, and that's why if you have it hodl on to it and actually use it if you choose to. Ohh gold is shiny must be worth alot, who the fuck cares. It's a belief that's all.
Back bitcoin with gold it doesn't really matter. Those who control all this shit are playing the fucking game anyways.
Back bitcoin with gold it doesn't really matter. Those who control all this shit are playing the fucking game anyways.
There are some believes that we might not necessary need fiat currency in trading cryptocurrencies.
My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?
My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?
Fiat money,digital currency,gold,silver,diamond,etc...they are different to each other but they are both important to us. They are created for different reason,purpose and value. That's why we still need fiat money and it is not irrelevant to cryptocurrency.
Maybe until such a time that crypto will act just like fiat (by so saying I mean, will be adopted as a medium of exchange), we cannot say fiat is irrelevant to crypto. We convert our coins to fiat in most cases before we can use them and that alone should tell you how we can't do without fiat now.
Till date, fiat currencies are still relevant to cryptocurrency. In most of the countries, you can't yet spend your cryptocurrency directly at the mall or with any merchants. People therfore have to first convert cryptocurrency to fiat currencies before they are able to do successful shopping.
There are some believes that we might not necessary need fiat currency in trading cryptocurrencies.
My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?
Fiat currencies cannot be completely irrelevant to cryptocurrency because crypto is decentralized and it can only be useful with the help of fiat currencies when it comes to offline. Fiat currencies are needed especially for transactions to covert cryptocurrencies to any fiat currencies. So without fiat crypto will be used only online and become useless offline. My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?
Fiat currency is centralized one that is controlled by the government and it is a legal currency . Cryptocurrency is a decentralized currency and is not controlled by a third party influence or any government and it is not accepted as a legal currency . In fiat currency the government decides how much currencies to be circulated and in cryptocurrency everyone has the same right and this is done in internet . Today there is no currencies backing with gold only ink printed papers Cryptocurrency is a global free system using blockchain technology .
There are some believes that we might not necessary need fiat currency in trading cryptocurrencies.
My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?
My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?
During this time fiat currency has become a benchmark for every increase that occurs in crypto currencies. Fiat currencies are still needed especially for transactions in buying and selling cryptocurrency, especially for those in countries where the government prohibits the use of cryptocurrency.
Cryptocurrency gets value after a deal from both parties, namely between the seller and the buyer.
Fiat is still needed to make every crytpocurrency completes.All purchases and transactions can't happen in the crypto market without taken into account the equivalent in fiat.
You can't say that Fiat currency is irrelevant.with respect to cryptocurrency. Cryptocurrency has a lot of advantages but you can't discard Fiat currency. I hope to see cryptocurrency like Bitcoin become a mainstream currency but there are a lot of hurdles that need to be crossed.
For now,fiat currency is still very relevant to cryptocurrency.Majority of the people nowadays are still into using fiat currencies to buy their own wants and needs.I think it will not really lost its essence even in the years to come because if cryptocurrency will be hopefully legalized in most countries,fiat currency would still be another option as a payment system. There are some believes that we might not necessary need fiat currency in trading cryptocurrencies.
My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?
My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?
Fiat is actually the backbone of the crypto world. The value of any cryptocurrency can be obtained by comparing it with fiat money. You cannot rule out the importance of fiat currencies in the crypto market. In fact, it is practically impossible for bitcoin to exit without fiat
Fiat is still needed for now
I agree with your opinion that fiat is very influential on the price of the crypto. and there may be some seniors who can help answer your question above.
and I want to know it.
and I want to know it.
In blockchains numbers of people are connected in a chain. Every new user is connected with old member. Every 1st user have some profit from 2nd member's work which is attached to him. So blockchain is a power, It is profitable. You can divide your work as per requirments.
You can't say that Fiat currency is irrelevant.with respect to cryptocurrency. Cryptocurrency has a lot of advantages but you can't discard Fiat currency. I hope to see cryptocurrency like Bitcoin become a mainstream currency but there are a lot of hurdles that need to be crossed.
There are some believes that we might not necessary need fiat currency in trading cryptocurrencies.
My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?
It is a reasonable question because I think not all of the guys would have an opinion on that and we'll be having an ability to answer that as well, fiat currencies are still important and needed in order to exchange cryptos. My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?
Fiat currency is not completely irrelevant in crypto currency because it is what we will still used to know the worth of our holding.
I agree with you, although fiat and crypto currencies are two separate currency states crypto relies on fiat at the moment because this is what we trade in for and we also use fiat especially for first time buying in of coins. This will be the case until a crypto world dominance becomes popular.
Fiat currency is not completely irrelevant in crypto currency because it is what we will still used to know the worth of our holding.
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