Topic: Will Bitcoin always be dependent on fiat? Is it? - page 5. (Read 12551 times)
Most of the merchants buy with fiat and then convert into bitcoin ,the same as most exchanges and similiar projects,all are based into dollars usually,the thing is bitcoin isnt allowed to be anywhere ,market ,gas station,when that happens we will no longer convert any coin into fiat but till that we are forced to take a part into fiat if not all.
As the title says, will it always be dependent on fiat currencies like €, $, ...? Because right now, you always convert before paying. So when you buy a TV, it costs 800$ so that means 1.8 BTC. And by that i dont see how can it become independant? It is just like gold, which cannot be used by itself.
So is my thinking true, or can the prices in the future be projected just through BTC; like you buy a TV and the price is 1.8 BTC. You buy bread, price 0.003 BTC .
I really dont know about these things so thats why i want to hear your knowledge on this.
it took a very long time for bitcoin to escape from fiat, probably about 10 years, and this can not be ascertained, because bitcoin is not certain to have a long future,lets hope bitcoin will stay alive in more than 20 years. So is my thinking true, or can the prices in the future be projected just through BTC; like you buy a TV and the price is 1.8 BTC. You buy bread, price 0.003 BTC .
I really dont know about these things so thats why i want to hear your knowledge on this.
No it will not I think its just a matter of time before the bitcoin gets itself independent from fiat.
Of course this will be, a journey but it can happen for sure its just that we need patient to let the bitcoin works things out.
agree,for now may bitcoin still depend on fiat. because there are still very few users bitcoin. so this is only a matter of time perched bitcoin users grows. and bitcoin can stand alone Of course this will be, a journey but it can happen for sure its just that we need patient to let the bitcoin works things out.
No it will not I think its just a matter of time before the bitcoin gets itself independent from fiat.
Of course this will be, a journey but it can happen for sure its just that we need patient to let the bitcoin works things out.
Of course this will be, a journey but it can happen for sure its just that we need patient to let the bitcoin works things out.
I don't know that bitcoin is dependent of fiat. I do think that there is a use for bitcoin and a use for fiat and they can both exist at the same time. They can serve separate purposes.
You didn't know? Lol, where have you been the last few years? Merchants convert all their Bitcoin sales directly to fiat. Mining farms need to convert their minted coins into fiat in order to pay bills. Exchanges need fiat to use it as BTC/USD trading pair. Fiat money is the key at this point, and it will stay like this for many many years.
Bitcoin does not have to be converted to fiat. You don't even have to have fiat to get bitcoins (mining, signature campaigns, faucets, other work paid in bitcoin). Many exchanges have trading pairs other than BTC/USD. There are people that use it, but you don't have to. Just because you can use fiat to buy and trade bitcoin doesn't mean that's the only way to buy and trade it. Once you have bitcoins, you can use it to make purchases in bitcoins in some places. My point is that you don't always need fiat to use, buy, and trade with bitcoin.
What do you think happens with the Bitcoins that people use to purchase stuff with? 95% chance that they get converted to fiat. Even if you use trading pairs other than BTC/Fiat, eventually it will be converted back to Bitcoin and then back to fiat as they are securing their profits for whatever reason.
People who are generating some Bitcoins through signature campaigns, faucets, and some side jobs will also end up converting their coins to fiat. Miners have a lot expenses and what do you think they use to pay their bills with?
Even Bitcoin mixers and gambling sites that don't offer anything fiat related will have to pay their bills in fiat by converting a portion of their Bitcoin profit into fiat. My point basically is : Bitcoin doesn't pay bills. Fiat does.
You're making the case that people are dependent on fiat. Of course people are always dependent on fiat. The question was whether Bitcoin is dependent on fiat. Bitcoin serves a different purpose than fiat and always will.
it will be. like the example you said, and
also because the price of bitcoin is not
stable. but if the popularity of bitcoin is
higher than fiat currency, maybe it won't
depend on fiat currency.
also because the price of bitcoin is not
stable. but if the popularity of bitcoin is
higher than fiat currency, maybe it won't
depend on fiat currency.
I still dont think that could happen. How could you get the price of one thing without using a fiat. Try to imagine that. I am not being pessimistic but it is the real thing that is happening now. All are relying in fiat.
Fiat is the main power source of governments. This is why banks and governments are in bed together . 
it will be. like the example you said, and
also because the price of bitcoin is not
stable. but if the popularity of bitcoin is
higher than fiat currency, maybe it won't
depend on fiat currency.
also because the price of bitcoin is not
stable. but if the popularity of bitcoin is
higher than fiat currency, maybe it won't
depend on fiat currency.
I don't know that bitcoin is dependent of fiat. I do think that there is a use for bitcoin and a use for fiat and they can both exist at the same time. They can serve separate purposes.
You didn't know? Lol, where have you been the last few years? Merchants convert all their Bitcoin sales directly to fiat. Mining farms need to convert their minted coins into fiat in order to pay bills. Exchanges need fiat to use it as BTC/USD trading pair. Fiat money is the key at this point, and it will stay like this for many many years.
Bitcoin does not have to be converted to fiat. You don't even have to have fiat to get bitcoins (mining, signature campaigns, faucets, other work paid in bitcoin). Many exchanges have trading pairs other than BTC/USD. There are people that use it, but you don't have to. Just because you can use fiat to buy and trade bitcoin doesn't mean that's the only way to buy and trade it. Once you have bitcoins, you can use it to make purchases in bitcoins in some places. My point is that you don't always need fiat to use, buy, and trade with bitcoin.
What do you think happens with the Bitcoins that people use to purchase stuff with? 95% chance that they get converted to fiat. Even if you use trading pairs other than BTC/Fiat, eventually it will be converted back to Bitcoin and then back to fiat as they are securing their profits for whatever reason.
People who are generating some Bitcoins through signature campaigns, faucets, and some side jobs will also end up converting their coins to fiat. Miners have a lot expenses and what do you think they use to pay their bills with?
Even Bitcoin mixers and gambling sites that don't offer anything fiat related will have to pay their bills in fiat by converting a portion of their Bitcoin profit into fiat. My point basically is : Bitcoin doesn't pay bills. Fiat does.
If the government accept bitcoin then we will see it in the near future,as we all know government doesnt want crypto currency because they cant implement tax on any crypto currency.
if government would start to regulate bitcoin, I don't think that it will benefit us, its only for the benefit of the government,their greed ambition to control it would always surface, and that won't be good to everyone,
I think bitcoin can replace fiat in future, but still a long way to go as of now I don't see it happening as many people are dependent on fiat and they find it easy to use.
aside from that, there are only few shops that accepts bitcoin, if bitcoin would be adopted by many countries, then there will come a time that we won't be dependent on fiat as we can already use bitcoin without converting..
If the government accept bitcoin then we will see it in the near future,as we all know government doesnt want crypto currency because they cant implement tax on any crypto currency.
I think bitcoin can replace fiat in future, but still a long way to go as of now I don't see it happening as many people are dependent on fiat and they find it easy to use.
aside from that, there are only few shops that accepts bitcoin, if bitcoin would be adopted by many countries, then there will come a time that we won't be dependent on fiat as we can already use bitcoin without converting..
I don't know that bitcoin is dependent of fiat. I do think that there is a use for bitcoin and a use for fiat and they can both exist at the same time. They can serve separate purposes.
You didn't know? Lol, where have you been the last few years? Merchants convert all their Bitcoin sales directly to fiat. Mining farms need to convert their minted coins into fiat in order to pay bills. Exchanges need fiat to use it as BTC/USD trading pair. Fiat money is the key at this point, and it will stay like this for many many years.
Bitcoin does not have to be converted to fiat. You don't even have to have fiat to get bitcoins (mining, signature campaigns, faucets, other work paid in bitcoin). Many exchanges have trading pairs other than BTC/USD. There are people that use it, but you don't have to. Just because you can use fiat to buy and trade bitcoin doesn't mean that's the only way to buy and trade it. Once you have bitcoins, you can use it to make purchases in bitcoins in some places. My point is that you don't always need fiat to use, buy, and trade with bitcoin.
Until we don't see places to use our bitcoins directly, bitcoin will always be dependent on fiat, and I think it will take a long time for bitcoin to get on mainstream.
I don't know that bitcoin is dependent of fiat. I do think that there is a use for bitcoin and a use for fiat and they can both exist at the same time. They can serve separate purposes.
You didn't know? Lol, where have you been the last few years? Merchants convert all their Bitcoin sales directly to fiat. Mining farms need to convert their minted coins into fiat in order to pay bills. Exchanges need fiat to use it as BTC/USD trading pair. Fiat money is the key at this point, and it will stay like this for many many years.
I don't know that bitcoin is dependent of fiat. I do think that there is a use for bitcoin and a use for fiat and they can both exist at the same time. They can serve separate purposes.
bitcoin depend on fiat if you convert bitcoin to fiat in advance to buy something. because you think still very few merchants that accept bitcoin, bitcoin therefore remains dependent on the fiat? What do you do it?
if you doing all its buses only with bitcoin. your bitcoin and you do not rely on fiat
I don't know that bitcoin is dependent of fiat. I do think that there is a use for bitcoin and a use for fiat and they can both exist at the same time. They can serve separate purposes.
I think bitcoin can never replace fiat, just look around you how many using bitcoins and how many of them are using fiat? The answer is very clear that people who use fiat will only use fiat even if the value of bitcoin reaches to the moon.
Right now i can't see an option where bitcoin is not depending on fiat. It's just impossible to get your bitcoins without fiat.
Maybe in the future where there will be other depositing ways it will be possible. But right now not.
That's the major issue at a moment we all are facing, as we cannot spend our bitcoins directly, we need to covert it to fiat first and then start spending, and I don't know how long it will take when we would be able to spend bitcoins directly for making purchases.
Not impossible to get bitcoin without fiat,signature are an example of free bitcoins for your work,sure we have internet and energy bill that we must pay in fiat as we dont have crypto option yet,may happen one day.Bitcoin is related to fiat since the begining,soo why to make such pressure about it being free?What i mean is the world isnt ready yet to bitcoin soo dont force it to go soo fast give time to time,bitcoin will became an option to pay your bills and maybe your boss can start to pay your salary in bitcoin ,but not now.
I think bitcoin can never replace fiat, just look around you how many using bitcoins and how many of them are using fiat? The answer is very clear that people who use fiat will only use fiat even if the value of bitcoin reaches to the moon.
Right now i can't see an option where bitcoin is not depending on fiat. It's just impossible to get your bitcoins without fiat.
Maybe in the future where there will be other depositing ways it will be possible. But right now not.
Jump to: