Topic: Why is Bitcoin still a slave of Fiat? - page 4. (Read 13933 times)
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.
The US dollar is a fiat currency which is not backed by anything, it is fake money, it is not real, literally just numbers on a computer screen, and it is merely a belief system. A flawed fucked up debt slavery based economic system designed to keep you and the rest of the world in debt and in poverty. It is a top-down economy controlled by the Federal Reserve which is controlled by a bunch of old out of touch sociopathic billionaires and trillionaires and has absolutely nothing to do with reality. The Federal Reserve and Wall Street aren’t even controlled by the US Government. Arguably, it is actually the Central Bank and Federal Reserve that control the US Government and every other country with a central bank.
The bankers are in control, and we do not have any representation in this country powerful enough to fight them, not even the President.
The bankers are in control, and we do not have any representation in this country powerful enough to fight them, not even the President.
For me it is so obvious you can buy bitcoin only using fiat currencies, so ultimately if you want to enter cryptocurrency and you want to own some of them, you need to spend fiat currencies in order to enter the market at the beginning of your every transaction.
Yes still slave to fiat because you cannot just spend Bitcoin as it is but need to convert first to fiat, because mode of payments are still in fiat money. I wonder when will Bitcoin stand on its own no need to exchange to fiat but spendable as it is.
But now we can see that the situation is chancing from time to time. People now have opportunity to use bitcoin for shopping everywhere, especially in modern countries and cities where bitcoin are more, I hope that in future people will increase the use of bitcoin as currency. with current price movements, I see many businesses will experience a loss if using bitcoin, in this case it requires a truly stable currency like fiat.
for assumptions as slaves, has become a memorandum with a long history of sovereignty of the central economic system, bitcoin needs more time to change it. bitcoin will not stand alone at this time unless there is one country that claims that their official currency is bitcoin.
Yes still slave to fiat because you cannot just spend Bitcoin as it is but need to convert first to fiat, because mode of payments are still in fiat money. I wonder when will Bitcoin stand on its own no need to exchange to fiat but spendable as it is.
But now we can see that the situation is chancing from time to time. People now have opportunity to use bitcoin for shopping everywhere, especially in modern countries and cities where bitcoin are more, I hope that in future people will increase the use of bitcoin as currency.
It is because all transactions involves fiat, bitcoin in the other hand has a limited access only. At the end of the day we still need to convert our coins to fiat so we can used it for our daily activities. 
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
I think its happen because dollar is benchmark currency in the world. Peoples in the world trade and convert commodities value with dollar including bitcoin. Beside that, we can not spending bitcoin in any merchant right now and the only way we can spend bitcoin is we selling bitcoin on exchanger and convert it to dollar.
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
Tell me, do you know anything, stock, asset or anything at all that is not under the influence of fiat? Everything is being controlled by fiat, if Bitcoin is not going to be controlled by fiat then it is totally out of this world and can’t be used even for investment or for anything at all, so stop saying all these its not really… well, I don’t know what to say though. Like
Agreed Value * Bitcoins Mined = New Value
0.0010 * 1 = 0.0010
0.0010 * 2 = 0.0020
As long as bitcoin gets banned from various countries, it becomes doubtful to use bitcoin and invest large amounts of bitcoin so there are no devs. who dare to apply bitcoin for direct payments like fiat.
Yes still slave to fiat because you cannot just spend Bitcoin as it is but need to convert first to fiat, because mode of payments are still in fiat money. I wonder when will Bitcoin stand on its own no need to exchange to fiat but spendable as it is.
The thing that makes bitcoin difficult to be accepted globally is that it cannot be used for formal transactions such as fiat, besides that prices like roller coasters certainly make users afraid to keep in large numbers.
Man, I am more than sure that in several years the situation will change, and Bitcoin will be used globally. It will be accepted in almost all shops and stores.
I don't think that Bitcoin or any other crypto currency is ever a slave to fiat. In fact, as we see a decrease in the vakue of a dollar we see that crypto currency prices still follow its natural and usual trend. We also see that whether or not people use it as a currency in exchange for goods and services or as a stock option, then that is their prerogative. I mean even Fiat could be used as a stock option.
Because of the fact that many people ate still unaware of cryptocurrency. If people are into it already, i mean digital currency. It will progress later on it will go hand in hand with fiat, but later on it will rise above fiat later on.
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.
i think that could be as a result of the fact that bitcoin is still not well publicize, lot of people dont understand the concept of bitcoin and as such affecting it acceptability, but hopefully in the forseeable future, bitcoin will totally replace fiat currency.
Because we are now very attached to the cash paper money. Because most do not accept anything other than cash.
Yes because fiat currency doesn't need transaction cost unlike bitcoin does. But as of now still fiat currency are accepted worldwide with its fix value in all transaction processing.
We say bitcoin is a slave of fiat I do not feel right, they only support each other and make the monetary system more complete. Fiat is indispensable to our lives with its advantages and bitcoin is the foundation of the future.
This is because the state fully protects fiat, bitcoin until now no one protects and guarantees so that it appears that bitcoin is not very important, but I believe that the future of bitcoin will continue to improve.
Well, I would not say that bitcoin now depends very much on fiat. Judging by the price of bitcoin and fiat, then fiat is a slave of bitcoin. Bitcoin, like other decentralized crypto currency, will always have a value in the main types of currencies, without which it would be impossible to use them in practice. I consider this a correct and absolutely normal phenomenon. If bitcoin did not have a binding to our usual currencies, it would be in its virtual world and in our world would have no value. The value of bitcoin can only be in relation to the major currencies of our world.
Because we are now very attached to the cash paper money. Because most do not accept anything other than cash.
Yes because fiat currency doesn't need transaction cost unlike bitcoin does. But as of now still fiat currency are accepted worldwide with its fix value in all transaction processing.
I dont think bitcoin is a slave of FIAT,
look you need a huge amount now like 7000 USD just to have 1 bitcoin.
Bitcoin is limited with 21,000,000 supplies and not controllable by any country.
what about fiat?
look you need a huge amount now like 7000 USD just to have 1 bitcoin.
Bitcoin is limited with 21,000,000 supplies and not controllable by any country.
what about fiat?
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