Topic: Why is Bitcoin still a slave of Fiat? - page 16. (Read 13984 times)
The main concern is the market cap. I mean you have fiat in every corner but you don't have a BTC store in the most of the country. So people have no choice but turning to fiat. Hope we can turn the table someday.
Everyone is a slave of fiat as long as that person has to pay for things in fiat and has to get paid in fiat. This means you can actually live outside the system, if you get paid in Bitcoin, and pay everything in Bitcoin.
But of course, as we know, this is still a very tiny minority who can get away with it. All it takes is raising that %.
But of course, as we know, this is still a very tiny minority who can get away with it. All it takes is raising that %.
At least in the country I live;
Because I can't pay any foodstuffs with it..
Because I still have my Job entire pay with Fiat.
Because when I ask anyone what Bitcoin is, they make this face
If Bitcoin will be mainstream someday, then still it is a little kid.
Bitcoin help us financially and its great help to student like me that can't have a job right now. And because of bitcoin its help me a lot with my study.Because I can't pay any foodstuffs with it..
Because I still have my Job entire pay with Fiat.
Because when I ask anyone what Bitcoin is, they make this face
If Bitcoin will be mainstream someday, then still it is a little kid.
The day Government will start accepting the bitcoin as a currency fiat will loose its value buy its like day dreaming and cannot afford to trust the government and the reason is people should start accepting bitcoin as a currency that is more important for the bitcoin community.
If there are many people use it doesnt mean that you have to adopt or accept it, altough you adopt it but if there is none of any company using it, you just still using bitcoin as a method of trading not a payment method. What we need is more company accepting bitcoin so bitcoin price will sure to the moon. Btw there are many people that do know about bitcoin but never use it not because they dont know how it works but they wont believe it because of its volatile price and no one control it for sure just some people that have tons of bitcoin can control it
At least in the country I live;
Because I can't pay any foodstuffs with it..
Because I still have my Job entire pay with Fiat.
Because when I ask anyone what Bitcoin is, they make this face
If Bitcoin will be mainstream someday, then still it is a little kid.
Bitcoin help us financially and its great help to student like me that can't have a job right now. And because of bitcoin its help me a lot with my study.Because I can't pay any foodstuffs with it..
Because I still have my Job entire pay with Fiat.
Because when I ask anyone what Bitcoin is, they make this face
If Bitcoin will be mainstream someday, then still it is a little kid.
The day Government will start accepting the bitcoin as a currency fiat will loose its value buy its like day dreaming and cannot afford to trust the government and the reason is people should start accepting bitcoin as a currency that is more important for the bitcoin community.
At least in the country I live;
Because I can't pay any foodstuffs with it..
Because I still have my Job entire pay with Fiat.
Because when I ask anyone what Bitcoin is, they make this face
If Bitcoin will be mainstream someday, then still it is a little kid.
Bitcoin help us financially and its great help to student like me that can't have a job right now. And because of bitcoin its help me a lot with my study.Because I can't pay any foodstuffs with it..
Because I still have my Job entire pay with Fiat.
Because when I ask anyone what Bitcoin is, they make this face
If Bitcoin will be mainstream someday, then still it is a little kid.
The day Government will start accepting the bitcoin as a currency fiat will loose its value buy its like day dreaming and cannot afford to trust the government and the reason is people should start accepting bitcoin as a currency that is more important for the bitcoin community.
As long as there are governments, there will be national fits. I can't imagine any realistic scenareo where Bitcoin could replace a national currency, unless the nation leaders accept it officially as the national currency. But I cannot imagine the govs doing it forced by how much people use it.
What I can see is Bitcoin being the main standard of value worldwide, deprecating gold.
What I can see is Bitcoin being the main standard of value worldwide, deprecating gold.
I Agree and I don't think that government will accept bitcoin as a national currency as they view it as a threat for themselves and even the banking systems. So there is no doubt that government will accept it as a national currency bitcoin will be in demand if and only if the people start adopting it.
At least in the country I live;
Because I can't pay any foodstuffs with it..
Because I still have my Job entire pay with Fiat.
Because when I ask anyone what Bitcoin is, they make this face
If Bitcoin will be mainstream someday, then still it is a little kid.
Because I can't pay any foodstuffs with it..
Because I still have my Job entire pay with Fiat.
Because when I ask anyone what Bitcoin is, they make this face
If Bitcoin will be mainstream someday, then still it is a little kid.
I completely agree with you.
Same is the case with my country nobody knows about bitcoin so how can I expect that I can buy my stuffs using bitcoins?? Still long way to go and bitcoin can never replace fiat as people have more faith in fiat as it is a traditional currency and people resist change.
At least in the country I live;
Because I can't pay any foodstuffs with it..
Because I still have my Job entire pay with Fiat.
Because when I ask anyone what Bitcoin is, they make this face
If Bitcoin will be mainstream someday, then still it is a little kid.
Bitcoin help us financially and its great help to student like me that can't have a job right now. And because of bitcoin its help me a lot with my study.Because I can't pay any foodstuffs with it..
Because I still have my Job entire pay with Fiat.
Because when I ask anyone what Bitcoin is, they make this face
If Bitcoin will be mainstream someday, then still it is a little kid.
At least in the country I live;
Because I can't pay any foodstuffs with it..
Because I still have my Job entire pay with Fiat.
Because when I ask anyone what Bitcoin is, they make this face
If Bitcoin will be mainstream someday, then still it is a little kid.
Because I can't pay any foodstuffs with it..
Because I still have my Job entire pay with Fiat.
Because when I ask anyone what Bitcoin is, they make this face
If Bitcoin will be mainstream someday, then still it is a little kid.
well what would consider it to then?
a brick of gold? I would enjoy that over fiat instead, but I dont see anyone doing that lol. If this is possible, then please show me the way cause I`m well aware that the fiat we exchange from bitcoin is only a temporary solution for what its actually worth.
a brick of gold? I would enjoy that over fiat instead, but I dont see anyone doing that lol. If this is possible, then please show me the way cause I`m well aware that the fiat we exchange from bitcoin is only a temporary solution for what its actually worth.
Its all because people are still using fiat money and they trust it. And we all know that many old man that don't know how to use computer so that they more likely to use fiat than bitcoin.
It is still so new that the true beauty of Bitcoin has yet to shine.Bitcoin is the first legitimate competition to government money since gold?? There really hasn't been any competition to fiat money since long long time for a few reasons.One is that it is technologically a great challenge but once the acceptance will go high bitcoin will rule the world.
As long as there are governments, there will be national fits. I can't imagine any realistic scenareo where Bitcoin could replace a national currency, unless the nation leaders accept it officially as the national currency. But I cannot imagine the govs doing it forced by how much people use it.
What I can see is Bitcoin being the main standard of value worldwide, deprecating gold.
What I can see is Bitcoin being the main standard of value worldwide, deprecating gold.
Why is Bitcoin tied to Fiat?
Because you have to pay your taxes in fiat.
what about i'm holding and never exchange it to fiat, would this make bitcoin not tied to fiat? hell no, the reason must be somwhere else
or use it without dumping to fiat? in all those case bitcoin is still tied, because we need an easy way to determinate its value, nothing else
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
Like
Agreed Value * Bitcoins Mined = New Value
0.0010 * 1 = 0.0010
0.0010 * 2 = 0.0020
Bitcoin is unrelated to anything else in the real world, including other money.
The value is decided by the individual market actors, the prices you see on an exchange are only a historical trail of recent trades on that exchange, not the value.
The value is fundamentally unknown, inside the heads of the traders, and changing constantly.
Nicely put. It's interesting to me that we can look to ourselves as a community to justify a statement like, "The value is fundamentally unknown...and changing constantly." It's stating the obvious, but if so many people have to ask what they think the real value is, then, well...they don't know it lol
There are few things in which bitcoin can never replace fiat. Like paying loans and interests to the bank
What would stop you borrowing bitcoins from people that have saved bitcoins, and paying them back with some interest ?
From people - yes; from banks - not possible right now.
Banks are regulated and only when the government decides to have bitcoin-denominated accounts, will it be possible to get bitcoin loans from banks.
An apt example for things in which Bitcoin may not be able to replace fiat is taxes.
There are few things in which bitcoin can never replace fiat. Like paying loans and interests to the bank
What would stop you borrowing bitcoins from people that have saved bitcoins, and paying them back with some interest ?
Why is Bitcoin tied to Fiat?
Because you have to pay your taxes in fiat.
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
Like
Agreed Value * Bitcoins Mined = New Value
0.0010 * 1 = 0.0010
0.0010 * 2 = 0.0020
Your calculation is for market capitalization, which is different from price. Price for anything is built by supply and demand, this is true for currency as much as it is for stock. But of course for currency there are governments to control supply, which can keep the price stable or let it run out of control.
Bitcoin isn't tied to fiat, if the dollar goes up the price of Bitcoin doesn't go up with it.
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
Like
Agreed Value * Bitcoins Mined = New Value
0.0010 * 1 = 0.0010
0.0010 * 2 = 0.0020
Bitcoin is unrelated to anything else in the real world, including other money.
The value is decided by the individual market actors, the prices you see on an exchange are only a historical trail of recent trades on that exchange, not the value.
The value is fundamentally unknown, inside the heads of the traders, and changing constantly.
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