Topic: Why is Bitcoin still a slave of Fiat? - page 3. (Read 13933 times)
Bitcoin is still fiat slave the term to be , because fiat are the known currency worldwide , while bircoin is still struggling to be recognized by the different people world wide, to be legit and accepted in the different market, so it remains the slave of fiat money.
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
It is not possible immediately for Bitcoin to replace the currency - a system of economic flows that goes through a long period of time. It has grown and increasingly linked, increasingly sustainable. People are more likely to approach it than Bitcoin because it's physical and not technology-dependent. However, Bitcoin can exist in parallel and support the currency. Like
Agreed Value * Bitcoins Mined = New Value
0.0010 * 1 = 0.0010
0.0010 * 2 = 0.0020
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
It is hard for people to leave the currency. Over time, it proved to be a very effective system. It is linked and expanded into a solid and easy-to-reach system. Bitcoin is still young and it takes time to secure its full potential. Like
Agreed Value * Bitcoins Mined = New Value
0.0010 * 1 = 0.0010
0.0010 * 2 = 0.0020
The expression that bitcoin is a slave of fiat is wrong. Bitcoin is not tied to conventional currency. If the usual currency grows or falls in price, it does not directly affect the bitcoin. Just the value of bitcoin, we need to measure something. We will not define its value in the commodity, for example, in sheep. You can measure in value to gold. However, in any case, in order to understand its value, we need bitcoin with something to compare in price.
besides, bitcoin is a newcomer, and requires understanding to be understood. and i don't think it's a slave, but it's normal if the electability is under fiat currency, because there are still few people who use it
The expression that bitcoin is a slave of fiat is wrong. Bitcoin is not tied to conventional currency. If the usual currency grows or falls in price, it does not directly affect the bitcoin. Just the value of bitcoin, we need to measure something. We will not define its value in the commodity, for example, in sheep. You can measure in value to gold. However, in any case, in order to understand its value, we need bitcoin with something to compare in price.
He can't secure his bitcoin byitself, look how many lose their bitcoin every day due to thieves, or because of their low competency with bitcoin security, for sure another way for them to store safely their coins, would be to entrust them to their banks.
These things are only possible with the use of fiat and I believe it would take a very long time the grocery and small merchants starts using bitcoin as a mode of payment.
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
I don't think bitcoin is a slave of fiat neither fiat is a slave of bitcoin. Both benefit from each other as bitcoin gets more popular and as an equalizer, the fact that its not yet legal gives the advantage to fiat since everyone is using it right now. We should atleast appreciat the fact that as we earn more bitcoin, fiat's are the one we use to benefit the most from the profit we've gain. Like
Agreed Value * Bitcoins Mined = New Value
0.0010 * 1 = 0.0010
0.0010 * 2 = 0.0020
Please do some moro thorough research on the whole topic of Bitcoin before posting such nonsense teories. How Bitcoin can be a slave of fiat? It's price is a subject to supply and demand, not dollar.
No it is not. Bitcoin is a cryptocurrency. Actually, bitcoin is helping fiat in a complex way fiat will be converted into bitcoin and it will be send to another place or location to receive by the receiver and again converted into fiat this time and can be cashout from the bank. Bitcoin is helping fiat. Not fiat slaving bitcoin.
I see this is just a topic too. Actually money is the same. Not slaves of one another. Only people without money are slaves of money. Electronic money is no different than the money on video games. It is the same thing if you accumulate a lot of money. And remember that it is never a slave to one another.I will never call Bitcoin a slave of fiat. However, I will agree that BTC and the other cryptocurrencies as well depend on the traditional money. You must take this situation as a norm.
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
Bitcoin need a mass adoption and this is necessary if you want to see a higher price of bitcoin. You can't decide of the value because it follows with the concept of supply and demand. You need many traders and investors to push the price higher. Like
Agreed Value * Bitcoins Mined = New Value
0.0010 * 1 = 0.0010
0.0010 * 2 = 0.0020
Because we still use cash and will use it, until the attitude to the crypto currency has changed.
I don't see bitcoin as a slave to fiat currency, bitcoin has always been doing great on its own. The problem is that people always sell bitcoin in exchange for fiat currency.
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
We can not really argue the fact that fiat money really dominates all aspects of currencies. But for me, I think it is wrong to make an statement that bitcoin is a "slave" of fiat. Fiat does really dominate cryptos but bitcoin and others are unique and have their own way of helping people. Logic here: Bitcoin helps Fiat which helps economy.
No it is not. Bitcoin is a cryptocurrency. Actually, bitcoin is helping fiat in a complex way fiat will be converted into bitcoin and it will be send to another place or location to receive by the receiver and again converted into fiat this time and can be cashout from the bank. Bitcoin is helping fiat. Not fiat slaving bitcoin.
I see this is just a topic too. Actually money is the same. Not slaves of one another. Only people without money are slaves of money. Electronic money is no different than the money on video games. It is the same thing if you accumulate a lot of money. And remember that it is never a slave to one another.
Mainly because bitcoin is a long process to produced an income and also its price is fluctuating everyday that make some great investors thinking more risks than investing fiat with short term process to get profit.
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
Until now, bitcoin price still depends on dollar. In fact, if there is no conversion of btc then it has no more value at all. If we want to have it a value without depending of dollar conversion then bitcoin should have stability with its price. If that happens, BTC will become independent in fiat. Like
Agreed Value * Bitcoins Mined = New Value
0.0010 * 1 = 0.0010
0.0010 * 2 = 0.0020
Even in significance in ratings bitcoin still have disadvantages because you need internet to access you assets to pay your everyday needs and rents. Besides, Only few people has a knowledge about cryptocurrency and how to use it. If bitcoin will turn into physical form then it well get free for slavery.
The point is that bitcoin still has flaws and to use it requires several conditions such as gadgets, internet, and a little intelligence. of course this condition will be an obstacle for others poeple to use it. for ease of using it fiat better. thats why fiat is preferred
I think slave is not a right word for bitcoin. Bitcoin as cryptocurrency and as store of value, bitcoin different than dollar and i think bitcoin more powerfull than dollar. We can see this from power purchasing power. Dollar power purchasing power declining but not with bitcoin
Slave? .. That is some underating on Bitcoin.
Do you know Money is gradually changing it's address again from debit cards to digital asset?
Centuries ago, people paid for goods and services through what we call trade by batter.
Later, money changed from trade by batter to silver and gold as means of exchange. Today people transact businesses with paper money which is gradually been replaced with debit cards like your ATM card.
Today, if you have money in your bank account, with your master ATM Card, you can buy anything in any part of the world you find your self even when you don't have any money in your pocket right there with you.
Currently, money has been transformed into that plastic material in your hand called ATM Card.
Currently, a digital asset called BITCOIN is making every waves in taking up the place of money. The Market Cap and Market Says it all.. Despite the shortcomings, Bitcoin is Currently priced at $6309.46.
I think this deserves more consideration.
Do you know Money is gradually changing it's address again from debit cards to digital asset?
Centuries ago, people paid for goods and services through what we call trade by batter.
Later, money changed from trade by batter to silver and gold as means of exchange. Today people transact businesses with paper money which is gradually been replaced with debit cards like your ATM card.
Today, if you have money in your bank account, with your master ATM Card, you can buy anything in any part of the world you find your self even when you don't have any money in your pocket right there with you.
Currently, money has been transformed into that plastic material in your hand called ATM Card.
Currently, a digital asset called BITCOIN is making every waves in taking up the place of money. The Market Cap and Market Says it all.. Despite the shortcomings, Bitcoin is Currently priced at $6309.46.
I think this deserves more consideration.
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