Will Bitcoin always be dependent on fiat? Is it?

mrhelpful

legendary

Activity: 1456

Merit: 1002

Quote from: goinmerry on March 22, 2016, 12:49:14 AM

Quote from: knowhow on March 21, 2016, 04:11:33 PM

Bitcoin borned with fiat as main support,nowadays bitcoin still need fiat to be able to grow and get traded.Bitcoin will always be dependent the fiat as its an investement option soo fiat is the main resorce to fund such resorces.

Yeah that is correct. It started knowing its price through fiat so it better stay like that. Gold, silver oil and other commodity are also seen dependent in fiat and they are still growing.

Yeah and always stay in fiat.

Unless the world accepted something else universally other then the USD to reverse this then it always will be like this lol.

Anyone thinking it wont depend on fiat is in lala land.

knowhow

hero member

Activity: 560

Merit: 500

Well sure the current printed paper fiat ,in the future will be over as it will become all digital but bitcoin will still being dependent of fiat ,there is no way to this changes,21milion coins against all fiat of the world.

upsidedown75

legendary

Activity: 1288

Merit: 1036

Quote from: torrentheaven on March 17, 2016, 04:08:24 PM

Quote from: Altynbekova on March 17, 2016, 03:28:07 PM

I think for a couple more years it will be depended on the fiat, but after that it will stand on his own.
Its still a long journey for the bitcoin but I think it will stand on its on legs at the end.

There will be few countries and people who will continue to use fiat as they are not aware about bitcoins, and if they are, they would hesitate in using it.

I think all of the countries will continue to work with their currencies in order to secure their trade and business in their local. But for international it may become an independent currency.

goinmerry

legendary

Activity: 2940

Merit: 1083

Quote from: blackmachinegun on March 21, 2016, 03:46:52 AM

Quote from: goinmerry on March 17, 2016, 12:19:49 AM

Quote from: Crazygreek on March 16, 2016, 01:11:57 PM

I think not, btc are still new for people. Maybe in future it will be independent but now we have what we have. But it's also not so bad, eveything dependent on smth

Yes it is still in maturity stage where it will be known all over the world even the people who aren't educated much will know that there is a currency like this that exist online. Maybe that way they will pursue an education in how to use a computer.

I find many people are unemployed plunge into the world of bitcoin to work although bitcoin is still dependent on the fiat was not a problem. as long as we still use bitcoin and bitcoin is still alive. anyway bitcoin will continue to grow may be able to stand alone

It is like every thing in the world now is priced by a fiat. That is how it goes. Well as long as bitcoin is here we should use it and promote it more if it will be known then better if it stays as it is then good also.

KennyR

hero member

Activity: 2310

Merit: 532

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: el kaka22 on March 22, 2016, 06:54:43 AM

Quote from: knowhow on March 17, 2016, 03:08:56 PM

No bitcoin will be always conneted to fiat,even if goes mainstream,as you cant save anywhere bitcoins ,it may happen in the future this option but i really doubt,bitcoin will be dependent always ,and we cant do nothing to stop it as we need our fiat as well.

I also agree that bitcoin will always connected to fiat/other currencies as all other currencies are connected with each other but I think it alone for virtual system will in a time remain independent.

Yeah sure bitcoin without any concern always depends on fiat. Currencies exist from the early days of human life, So the dependence on fiat will continue till the end of human life.

jkrules

full member

Activity: 210

Merit: 100

Quote from: knowhow on March 21, 2016, 04:11:33 PM

Bitcoin borned with fiat as main support,nowadays bitcoin still need fiat to be able to grow and get traded.Bitcoin will always be dependent the fiat as its an investement option soo fiat is the main resorce to fund such resorces.

Bitcoin is dependent on fiat because its value is calculated on dollar.I don't have idea how long it will be dependent like this but someday things will change in future.

el kaka22

legendary

Activity: 3654

Merit: 1165

www.Crypto.Games: Multiple coins, multiple games

Quote from: knowhow on March 17, 2016, 03:08:56 PM

No bitcoin will be always conneted to fiat,even if goes mainstream,as you cant save anywhere bitcoins ,it may happen in the future this option but i really doubt,bitcoin will be dependent always ,and we cant do nothing to stop it as we need our fiat as well.

I also agree that bitcoin will always connected to fiat/other currencies as all other currencies are connected with each other but I think it alone for virtual system will in a time remain independent.

goinmerry

legendary

Activity: 2940

Merit: 1083

Quote from: knowhow on March 21, 2016, 04:11:33 PM

Bitcoin borned with fiat as main support,nowadays bitcoin still need fiat to be able to grow and get traded.Bitcoin will always be dependent the fiat as its an investement option soo fiat is the main resorce to fund such resorces.

Yeah that is correct. It started knowing its price through fiat so it better stay like that. Gold, silver oil and other commodity are also seen dependent in fiat and they are still growing.

knowhow

hero member

Activity: 560

Merit: 500

Bitcoin borned with fiat as main support,nowadays bitcoin still need fiat to be able to grow and get traded.Bitcoin will always be dependent the fiat as its an investement option soo fiat is the main resorce to fund such resorces.

blackmachinegun

hero member

Activity: 532

Merit: 500

Quote from: goinmerry on March 17, 2016, 12:19:49 AM

Quote from: Crazygreek on March 16, 2016, 01:11:57 PM

I think not, btc are still new for people. Maybe in future it will be independent but now we have what we have. But it's also not so bad, eveything dependent on smth

Yes it is still in maturity stage where it will be known all over the world even the people who aren't educated much will know that there is a currency like this that exist online. Maybe that way they will pursue an education in how to use a computer.

I find many people are unemployed plunge into the world of bitcoin to work although bitcoin is still dependent on the fiat was not a problem. as long as we still use bitcoin and bitcoin is still alive. anyway bitcoin will continue to grow may be able to stand alone

Whosdaddy

hero member

Activity: 1148

Merit: 527

Quote from: lixer on March 20, 2016, 02:00:55 PM

Quote from: goinmerry on March 17, 2016, 12:19:49 AM

Quote from: Crazygreek on March 16, 2016, 01:11:57 PM

I think not, btc are still new for people. Maybe in future it will be independent but now we have what we have. But it's also not so bad, eveything dependent on smth

Yes it is still in maturity stage where it will be known all over the world even the people who aren't educated much will know that there is a currency like this that exist online. Maybe that way they will pursue an education in how to use a computer.

Yes, in this time it requires to be flourish more and to get more awareness among the people after that there may be some chances appear that it will become independent of fiat. I think it will take about more than 20 years.

And if those uneducated people do not prefer to use computer for their financial affairs then it will be difficult for the bitcoin to get spread among them, then there will be di-system for the currency, one for educated and the other for uneducated.

eddyubachs

hero member

Activity: 812

Merit: 1000

Quote from: lixer on March 20, 2016, 02:00:55 PM

Quote from: goinmerry on March 17, 2016, 12:19:49 AM

Quote from: Crazygreek on March 16, 2016, 01:11:57 PM

I think not, btc are still new for people. Maybe in future it will be independent but now we have what we have. But it's also not so bad, eveything dependent on smth

Yes it is still in maturity stage where it will be known all over the world even the people who aren't educated much will know that there is a currency like this that exist online. Maybe that way they will pursue an education in how to use a computer.

Yes, in this time it requires to be flourish more and to get more awareness among the people after that there may be some chances appear that it will become independent of fiat. I think it will take about more than 20 years.

People will be aware about the bitcoin in future for sue but they will also use fiat, i think in many countris fiat is in more demand and situation would be same in future too.

jchst

sr. member

Activity: 252

Merit: 250

Yes ,bitcoin will be always depended the fiat system ,dont think even if the future becomes digital,instead you moove to your banks you do anything from home,get paid by transfers,as bitcoins works,a code ,and confirmation sent.Fiat will be always the main currency and its one of the biggest supporters of bitcoin the fiat,remove it and think if it will be able to know and be sure the crypto world wouldnt exist.

lixer

hero member

Activity: 2688

Merit: 588

Quote from: goinmerry on March 17, 2016, 12:19:49 AM

Quote from: Crazygreek on March 16, 2016, 01:11:57 PM

I think not, btc are still new for people. Maybe in future it will be independent but now we have what we have. But it's also not so bad, eveything dependent on smth

Yes it is still in maturity stage where it will be known all over the world even the people who aren't educated much will know that there is a currency like this that exist online. Maybe that way they will pursue an education in how to use a computer.

Yes, in this time it requires to be flourish more and to get more awareness among the people after that there may be some chances appear that it will become independent of fiat. I think it will take about more than 20 years.

SquallLeonhart

legendary

Activity: 2464

Merit: 1102

Quote from: torrentheaven on March 19, 2016, 01:49:40 AM

Quote from: diegz on March 19, 2016, 01:37:44 AM

Quote from: gerXhonza on March 18, 2016, 02:59:03 PM

Quote from: bitlancr on March 18, 2016, 02:56:00 PM

Well maybe they will not always be dependable on fiat but they would always be exchangeable so that would not change in my eyes.
Its all a matter of time but I think on a day the bitcoin will be independent.

No mate that's not possible as even if the price of bitcoin would be higher in future we will always try to convert it to fiat as we if the price is higher we will be holding more amount of fiat.

Most of us will do that, we tend to exchange our bitcoin to fiat when the price is high, that won't be change in the future, except if bitcoin is been accepted by markets as real money or fiat..

and for that I think we have to wait for a long time, as I think it will take almost a decade when we would be able to see physical shops accepting bitcoin as a mode of payment.

Even if the price of bitcoins is in millions, people will still convert it to fiat, as they will be holding huge amount of fiat if bitcoin reaches to the moon.

torrentheaven

hero member

Activity: 952

Merit: 1000

Quote from: diegz on March 19, 2016, 01:37:44 AM

Quote from: gerXhonza on March 18, 2016, 02:59:03 PM

Quote from: bitlancr on March 18, 2016, 02:56:00 PM

Well maybe they will not always be dependable on fiat but they would always be exchangeable so that would not change in my eyes.
Its all a matter of time but I think on a day the bitcoin will be independent.

No mate that's not possible as even if the price of bitcoin would be higher in future we will always try to convert it to fiat as we if the price is higher we will be holding more amount of fiat.

Most of us will do that, we tend to exchange our bitcoin to fiat when the price is high, that won't be change in the future, except if bitcoin is been accepted by markets as real money or fiat..

and for that I think we have to wait for a long time, as I think it will take almost a decade when we would be able to see physical shops accepting bitcoin as a mode of payment.

diegz

hero member

Activity: 798

Merit: 500

★YoBit.Net★ 350+ Coins Exchange & Dice

Quote from: gerXhonza on March 18, 2016, 02:59:03 PM

Quote from: bitlancr on March 18, 2016, 02:56:00 PM

Well maybe they will not always be dependable on fiat but they would always be exchangeable so that would not change in my eyes.
Its all a matter of time but I think on a day the bitcoin will be independent.

No mate that's not possible as even if the price of bitcoin would be higher in future we will always try to convert it to fiat as we if the price is higher we will be holding more amount of fiat.

Most of us will do that, we tend to exchange our bitcoin to fiat when the price is high, that won't be change in the future, except if bitcoin is been accepted by markets as real money or fiat..

gerXhonza

hero member

Activity: 812

Merit: 1000

Quote from: bitlancr on March 18, 2016, 02:56:00 PM

Well maybe they will not always be dependable on fiat but they would always be exchangeable so that would not change in my eyes.
Its all a matter of time but I think on a day the bitcoin will be independent.

No mate that's not possible as even if the price of bitcoin would be higher in future we will always try to convert it to fiat as we if the price is higher we will be holding more amount of fiat.

bitlancr

hero member

Activity: 616

Merit: 500

Well maybe they will not always be dependable on fiat but they would always be exchangeable so that would not change in my eyes.
Its all a matter of time but I think on a day the bitcoin will be independent.

jchst

sr. member

Activity: 252

Merit: 250

The same way you get paid to post and you able to spend it at some places,bitcoin need to be used to reach more and more members,but bitcoin will be always connected to bitcoin,some people would like to expose their wallets as they can have or had huge ammount and the merchant can record the face and go after him ,i saw something like this at csi cyber.

Topic: Will Bitcoin always be dependent on fiat? Is it? (Read 12551 times)