there are only two reasons, bitcoin is not big enough to work "alone" and the second it's a conventional purpose, it is more easy to attribute a value to it, if you tied it with fiat
also bitcoin is not ready yet to work like a full currency(not accepted everywhere) so you need to dump for fiat first, in many cases
Topic: Why is Bitcoin still a slave of Fiat? - page 14. (Read 13933 times)
Imagine if your boss paid you in bitcoins and you could buy your food and supplies with bitcoins. Why would you use dollars?
the perfect scenario you could use bitcoins for almost everything and no paying taxes.
the perfect scenario you could use bitcoins for almost everything and no paying taxes.
Yeah it would be happen if all of stores and grocery have accepted bitcoin payment. But I think Bank won't let it happen easily, because bank need fiat, not crypto currency.
Yes I think banks will never come in the support of crypto currency as they would start loosing their customers and I don't think that bitcoin can ever replace the fiat currency as People believe in spending using the fiat and they have more faith in fiat as compared to bitcoins.
Yes and the older generation will definitely invest in fiat currencies for eg fixed deposits in a bank as they don't believe in accepting the change and they don't have the ability to take higher risks what the younger generation can do. As the youth are very keen to know about the latest technology and start adopting it.
Imagine if your boss paid you in bitcoins and you could buy your food and supplies with bitcoins. Why would you use dollars?
the perfect scenario you could use bitcoins for almost everything and no paying taxes.
the perfect scenario you could use bitcoins for almost everything and no paying taxes.
Yeah it would be happen if all of stores and grocery have accepted bitcoin payment. But I think Bank won't let it happen easily, because bank need fiat, not crypto currency.
Yes I think banks will never come in the support of crypto currency as they would start loosing their customers and I don't think that bitcoin can ever replace the fiat currency as People believe in spending using the fiat and they have more faith in fiat as compared to bitcoins.
Yes and the older generation will definitely invest in fiat currencies for eg fixed deposits in a bank as they don't believe in accepting the change and they don't have the ability to take higher risks what the younger generation can do. As the youth are very keen to know about the latest technology and start adopting it.
Imagine if your boss paid you in bitcoins and you could buy your food and supplies with bitcoins. Why would you use dollars?
the perfect scenario you could use bitcoins for almost everything and no paying taxes.
the perfect scenario you could use bitcoins for almost everything and no paying taxes.
Yeah it would be happen if all of stores and grocery have accepted bitcoin payment. But I think Bank won't let it happen easily, because bank need fiat, not crypto currency.
Yes I think banks will never come in the support of crypto currency as they would start loosing their customers and I don't think that bitcoin can ever replace the fiat currency as People believe in spending using the fiat and they have more faith in fiat as compared to bitcoins.
Banks will eventually chime in and move all of their infrastructures into the blockchain, simply because it's cheaper and more effective. They'll be losing money if they don't, eventually younger people get hired and will get things going.
Imagine if your boss paid you in bitcoins and you could buy your food and supplies with bitcoins. Why would you use dollars?
the perfect scenario you could use bitcoins for almost everything and no paying taxes.
the perfect scenario you could use bitcoins for almost everything and no paying taxes.
Yeah it would be happen if all of stores and grocery have accepted bitcoin payment. But I think Bank won't let it happen easily, because bank need fiat, not crypto currency.
Yes I think banks will never come in the support of crypto currency as they would start loosing their customers and I don't think that bitcoin can ever replace the fiat currency as People believe in spending using the fiat and they have more faith in fiat as compared to bitcoins.
Banks will eventually chime in and move all of their infrastructures into the blockchain, simply because it's cheaper and more effective. They'll be losing money if they don't, eventually younger people get hired and will get things going.
Nope they will not do that since there are no regultions from government that they fully adopt bitcoin. May be one day they will use blockchain
system but there is no way that bank will lose their own money because they still supported by government and they get income from bank users and
other investments so its impossible to lose fiat in the future
Imagine if your boss paid you in bitcoins and you could buy your food and supplies with bitcoins. Why would you use dollars?
the perfect scenario you could use bitcoins for almost everything and no paying taxes.
the perfect scenario you could use bitcoins for almost everything and no paying taxes.
Yeah it would be happen if all of stores and grocery have accepted bitcoin payment. But I think Bank won't let it happen easily, because bank need fiat, not crypto currency.
Yes I think banks will never come in the support of crypto currency as they would start loosing their customers and I don't think that bitcoin can ever replace the fiat currency as People believe in spending using the fiat and they have more faith in fiat as compared to bitcoins.
Banks will eventually chime in and move all of their infrastructures into the blockchain, simply because it's cheaper and more effective. They'll be losing money if they don't, eventually younger people get hired and will get things going.
i agree on this, it's the only solution for them to prevent bankrupt of their activity, but i think at first, they will try to control some bitcoin by providing interest upon on deposit, for people that cannot deal with the security problem with bitcoin, when this will be settled they will move ahead and start increase their business on the blockchain.i was reading about the sidechain yesterday, and i was thinking that bank could take control of one of those instead of jumping on the main chain
Imagine if your boss paid you in bitcoins and you could buy your food and supplies with bitcoins. Why would you use dollars?
the perfect scenario you could use bitcoins for almost everything and no paying taxes.
the perfect scenario you could use bitcoins for almost everything and no paying taxes.
Yeah it would be happen if all of stores and grocery have accepted bitcoin payment. But I think Bank won't let it happen easily, because bank need fiat, not crypto currency.
Yes I think banks will never come in the support of crypto currency as they would start loosing their customers and I don't think that bitcoin can ever replace the fiat currency as People believe in spending using the fiat and they have more faith in fiat as compared to bitcoins.
Banks will eventually chime in and move all of their infrastructures into the blockchain, simply because it's cheaper and more effective. They'll be losing money if they don't, eventually younger people get hired and will get things going.
Nope they will not do that since there are no regultions from government that they fully adopt bitcoin. May be one day they will use blockchain
system but there is no way that bank will lose their own money because they still supported by government and they get income from bank users and
other investments so its impossible to lose fiat in the future
Imagine if your boss paid you in bitcoins and you could buy your food and supplies with bitcoins. Why would you use dollars?
the perfect scenario you could use bitcoins for almost everything and no paying taxes.
the perfect scenario you could use bitcoins for almost everything and no paying taxes.
Yeah it would be happen if all of stores and grocery have accepted bitcoin payment. But I think Bank won't let it happen easily, because bank need fiat, not crypto currency.
Yes I think banks will never come in the support of crypto currency as they would start loosing their customers and I don't think that bitcoin can ever replace the fiat currency as People believe in spending using the fiat and they have more faith in fiat as compared to bitcoins.
Banks will eventually chime in and move all of their infrastructures into the blockchain, simply because it's cheaper and more effective. They'll be losing money if they don't, eventually younger people get hired and will get things going.
because peeps have long history of knowing how much things are in fiat, e.g. everyone knows approximate price of loaf of bread in fiat, so say its $1 where you are, the price will probably was $1 last week and will be $1 next week more or less by few cents. Peeps don't know how many btc for a loaf and they certainly don't want to know that it was 0.005btc last week but today is 0.01btc and who knows how many btw for a loaf the morrow?
Imagine if your boss paid you in bitcoins and you could buy your food and supplies with bitcoins. Why would you use dollars?
the perfect scenario you could use bitcoins for almost everything and no paying taxes.
the perfect scenario you could use bitcoins for almost everything and no paying taxes.
Yeah it would be happen if all of stores and grocery have accepted bitcoin payment. But I think Bank won't let it happen easily, because bank need fiat, not crypto currency.
Yes I think banks will never come in the support of crypto currency as they would start loosing their customers and I don't think that bitcoin can ever replace the fiat currency as People believe in spending using the fiat and they have more faith in fiat as compared to bitcoins.
Imagine if your boss paid you in bitcoins and you could buy your food and supplies with bitcoins. Why would you use dollars?
the perfect scenario you could use bitcoins for almost everything and no paying taxes.
the perfect scenario you could use bitcoins for almost everything and no paying taxes.
Yeah it would be happen if all of stores and grocery have accepted bitcoin payment. But I think Bank won't let it happen easily, because bank need fiat, not crypto currency.
Yes I think banks will never come in the support of crypto currency as they would start loosing their customers and I don't think that bitcoin can ever replace the fiat currency as People believe in spending using the fiat and they have more faith in fiat as compared to bitcoins.
IF btc becomes a reserve currency with the same status as.fiat currently does, it will take a LONG time. Revolutions don't happen.overnight.
It will not be a currency or as the same of fiat money because bitcoin is all about fiat money. If we replace or take over fiat money bitcoin will be useless.not if it can detach itself, from that useless crap of printend money everyday, fiat is now needed to point a value for it, but in the future i'm sure bitcoin can work for itself, when the fully stability is achieved
How are they gonna work it in the future? People sure need fiat altough bitcoin is in a stable condition, they need to buy it then convert it to bitcoin too so with the stability of bitcoin, fiat is still needed they can't be detach each other. New people will still need to buy it anyway and sure its hard for use to get it from faucets so bitcoin and fiat must stick together in other to survive
i mean, it will work like any other currency, like you exchange euro with dollars if you need it, but then you don't need to buy back fiat, because bitcoin will be used directly for everything not just buying stuff online(we are talking about a very far away future, probably even beyond fully adoption), so fiat will only be needed to buy it
I think we can't do the same thing to bitcoin. Like you said euro and dollar you just need to exchange it easily because both of it is well known as a currency in this world mean while bitcoin is an unknown method of payment, people wont believe it anyway and they need change it back to fiat too after they lose their hope in bitcoin
if you read carefully, my post was pointing not at the current present, but at one distant future, for now bitcoin will remain simply what is it, but this will change for sure, if we will not face its death
Yes I know that you pointing about the future but that is too wide to say future. We dont know what future are you talking about. About 10 years or may be 20 years, no one will know it. And people need money everytime and they need to exchange it continously. For now this method is not good enough
it's not a method, it is just the possible evolution of bitcoin, a thing that wil come in the end, it does not matter when actually, every coin that can reach fully adoption, will be in the end, fully indipendednt too
Why is Bitcoin tied to Fiat? Why is Bitcoin value moving like a stock? satoshi said the value will be derived by the limit of total coins. But we are seeing the opposite. Why dont we mathematically calculate the value of bitcoin according to the amount of bitcoin mined?
Like
Agreed Value * Bitcoins Mined = New Value
0.0010 * 1 = 0.0010
0.0010 * 2 = 0.0020
Do you belive in everything you hear? If Satoshi said that it doesn't mean that he was 100% right and on point. Bitcoin is highly speculative project, you never can be sure of its income.Like
Agreed Value * Bitcoins Mined = New Value
0.0010 * 1 = 0.0010
0.0010 * 2 = 0.0020
As for the statement that Bitcoin is a slave of FIAT I am surprised that you mention it in that way. Do you honestly expect people to overnight switch to using bitcoin and forgot about FIAT?
I think bitcoin remains and not fiat for the reasons it has created and it has some advantages compared to fiat
IF btc becomes a reserve currency with the same status as.fiat currently does, it will take a LONG time. Revolutions don't happen.overnight.
It will not be a currency or as the same of fiat money because bitcoin is all about fiat money. If we replace or take over fiat money bitcoin will be useless.not if it can detach itself, from that useless crap of printend money everyday, fiat is now needed to point a value for it, but in the future i'm sure bitcoin can work for itself, when the fully stability is achieved
How are they gonna work it in the future? People sure need fiat altough bitcoin is in a stable condition, they need to buy it then convert it to bitcoin too so with the stability of bitcoin, fiat is still needed they can't be detach each other. New people will still need to buy it anyway and sure its hard for use to get it from faucets so bitcoin and fiat must stick together in other to survive
i mean, it will work like any other currency, like you exchange euro with dollars if you need it, but then you don't need to buy back fiat, because bitcoin will be used directly for everything not just buying stuff online(we are talking about a very far away future, probably even beyond fully adoption), so fiat will only be needed to buy it
I think we can't do the same thing to bitcoin. Like you said euro and dollar you just need to exchange it easily because both of it is well known as a currency in this world mean while bitcoin is an unknown method of payment, people wont believe it anyway and they need change it back to fiat too after they lose their hope in bitcoin
if you read carefully, my post was pointing not at the current present, but at one distant future, for now bitcoin will remain simply what is it, but this will change for sure, if we will not face its death
Yes I know that you pointing about the future but that is too wide to say future. We dont know what future are you talking about. About 10 years or may be 20 years, no one will know it. And people need money everytime and they need to exchange it continously. For now this method is not good enough
IF btc becomes a reserve currency with the same status as.fiat currently does, it will take a LONG time. Revolutions don't happen.overnight.
It will not be a currency or as the same of fiat money because bitcoin is all about fiat money. If we replace or take over fiat money bitcoin will be useless.not if it can detach itself, from that useless crap of printend money everyday, fiat is now needed to point a value for it, but in the future i'm sure bitcoin can work for itself, when the fully stability is achieved
How are they gonna work it in the future? People sure need fiat altough bitcoin is in a stable condition, they need to buy it then convert it to bitcoin too so with the stability of bitcoin, fiat is still needed they can't be detach each other. New people will still need to buy it anyway and sure its hard for use to get it from faucets so bitcoin and fiat must stick together in other to survive
i mean, it will work like any other currency, like you exchange euro with dollars if you need it, but then you don't need to buy back fiat, because bitcoin will be used directly for everything not just buying stuff online(we are talking about a very far away future, probably even beyond fully adoption), so fiat will only be needed to buy it
I think we can't do the same thing to bitcoin. Like you said euro and dollar you just need to exchange it easily because both of it is well known as a currency in this world mean while bitcoin is an unknown method of payment, people wont believe it anyway and they need change it back to fiat too after they lose their hope in bitcoin
if you read carefully, my post was pointing not at the current present, but at one distant future, for now bitcoin will remain simply what is it, but this will change for sure, if we will not face its death
Yes I know that you pointing about the future but that is too wide to say future. We dont know what future are you talking about. About 10 years or may be 20 years, no one will know it. And people need money everytime and they need to exchange it continously. For now this method is not good enough
IF btc becomes a reserve currency with the same status as.fiat currently does, it will take a LONG time. Revolutions don't happen.overnight.
It will not be a currency or as the same of fiat money because bitcoin is all about fiat money. If we replace or take over fiat money bitcoin will be useless.not if it can detach itself, from that useless crap of printend money everyday, fiat is now needed to point a value for it, but in the future i'm sure bitcoin can work for itself, when the fully stability is achieved
How are they gonna work it in the future? People sure need fiat altough bitcoin is in a stable condition, they need to buy it then convert it to bitcoin too so with the stability of bitcoin, fiat is still needed they can't be detach each other. New people will still need to buy it anyway and sure its hard for use to get it from faucets so bitcoin and fiat must stick together in other to survive
i mean, it will work like any other currency, like you exchange euro with dollars if you need it, but then you don't need to buy back fiat, because bitcoin will be used directly for everything not just buying stuff online(we are talking about a very far away future, probably even beyond fully adoption), so fiat will only be needed to buy it
I think we can't do the same thing to bitcoin. Like you said euro and dollar you just need to exchange it easily because both of it is well known as a currency in this world mean while bitcoin is an unknown method of payment, people wont believe it anyway and they need change it back to fiat too after they lose their hope in bitcoin
if you read carefully, my post was pointing not at the current present, but at one distant future, for now bitcoin will remain simply what is it, but this will change for sure, if we will not face its death
because is not big enough yet and not commonly accepted for every purchase, also there is still no "bitcoin-items-bitcoin" cycle, it needs much time before it could detach itself from fiat
Bitcoin need to have serious business approach to core banks in this world, rather working out on self, Bitcoin should talk to them openly about these benefits, how they will earn profit and lead a way for their customers for huge savings. Still millions and millions of people are unware of BItcoin transactions and security, it really need a thorough campaign to create the awareness in the people's mind about Bitcoin. I am confident that if we initiate tangible campaign with full force activity around the world, Definitely it will be huge success for high rise in BItcoin.
IF btc becomes a reserve currency with the same status as.fiat currently does, it will take a LONG time. Revolutions don't happen.overnight.
It will not be a currency or as the same of fiat money because bitcoin is all about fiat money. If we replace or take over fiat money bitcoin will be useless.not if it can detach itself, from that useless crap of printend money everyday, fiat is now needed to point a value for it, but in the future i'm sure bitcoin can work for itself, when the fully stability is achieved
How are they gonna work it in the future? People sure need fiat altough bitcoin is in a stable condition, they need to buy it then convert it to bitcoin too so with the stability of bitcoin, fiat is still needed they can't be detach each other. New people will still need to buy it anyway and sure its hard for use to get it from faucets so bitcoin and fiat must stick together in other to survive
i mean, it will work like any other currency, like you exchange euro with dollars if you need it, but then you don't need to buy back fiat, because bitcoin will be used directly for everything not just buying stuff online(we are talking about a very far away future, probably even beyond fully adoption), so fiat will only be needed to buy it
I think we can't do the same thing to bitcoin. Like you said euro and dollar you just need to exchange it easily because both of it is well known as a currency in this world mean while bitcoin is an unknown method of payment, people wont believe it anyway and they need change it back to fiat too after they lose their hope in bitcoin
if you read carefully, my post was pointing not at the current present, but at one distant future, for now bitcoin will remain simply what is it, but this will change for sure, if we will not face its death
well money started into 10.000 years ago like wheels of stone and its currencies change but to btc become a currencie change in better factor like other fiat must be more relaiable into the central banks and started to be acepted by big companies htey are aware of this and wait for more development into the net to see if 30% of people uses money like btc in net if soo they start overcoming fiat equals btc. soo for now and 5 to 10 years btc wount be like 1000 dollars a piece and de banks and companies will still use much more fiat than btc its the overcome of this idea that sites like this start to change a bit. but its a long road prob not even in our lifetime but the lifer time of 2121 btc end year.
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