Topic: Will Bitcoin always be dependent on fiat? Is it? - page 6. (Read 12551 times)
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.
Well if the price of fiat drops, the price of Bitcoin will stay the same. So I don't really think it depends on fiat.
We can have a future where Bitcoin is a real currency, but we need a country to test it out. I think an independent Silicon Valley could be the first to adopt some sort of decentralized virtual currency
I can't image bitcoin to work separate from fiat. Like any asset bitcoin is depending on fiat for buy or selling it.
It the intrinsic value of bitcoin was measured differently then yes it could work without fiat.
Well, I'm unsure as to whether it can break out of the FIAT control, but there are definitely possibilities in the future if bitcoin becomes popular to the point where its currency is used more. FIAT will likely be present for a long time, and unless maybe a significant majority of the world uses bitcoins exclusively, there will be a dependency on FIAT.
We can have a future where Bitcoin is a real currency, but we need a country to test it out. I think an independent Silicon Valley could be the first to adopt some sort of decentralized virtual currency
There is no changing that. It is supposed to be that way. Or some people will go rampant if you make bitcoin as a new currency internationally. Specially, those who doesnt even know something about it. And what is more. Those who dont even hold a computer. That will be hard for them
Exactly, the older generation would prefer to use fiat and not bitcoins, as for them bitcoin is something very new and complicated, they would continue to use what's convenient for them.
If those people can use the smart phone, they can use the bitcoin. It will be very simple process in the future.
What the can do, is not necessarily what they may prefer to do.
They would still prefer to hold coins rather than believe in digital code.
Even dollar and euro and others currencies as long you travel between countries you will see and make the exchange to see if you will buy those to take home or not.Soo bitcoin has a value in fiat and sure these wont be replaced as we get bitcoin that worth fiat that we need to our day-by-day.That currently bitcoin cant pay for food ,at supermarket soo till that day when you can buy it with bitcoin and even then the owner will know how much he sold even getting paid in bitcoin,the world wont make bitcoin their own currency its impossible.
There is no changing that. It is supposed to be that way. Or some people will go rampant if you make bitcoin as a new currency internationally. Specially, those who doesnt even know something about it. And what is more. Those who dont even hold a computer. That will be hard for them
Exactly, the older generation would prefer to use fiat and not bitcoins, as for them bitcoin is something very new and complicated, they would continue to use what's convenient for them.
If those people can use the smart phone, they can use the bitcoin. It will be very simple process in the future.
There is no changing that. It is supposed to be that way. Or some people will go rampant if you make bitcoin as a new currency internationally. Specially, those who doesnt even know something about it. And what is more. Those who dont even hold a computer. That will be hard for them
Exactly, the older generation would prefer to use fiat and not bitcoins, as for them bitcoin is something very new and complicated, they would continue to use what's convenient for them.
There is no changing that. It is supposed to be that way. Or some people will go rampant if you make bitcoin as a new currency internationally. Specially, those who doesnt even know something about it. And what is more. Those who dont even hold a computer. That will be hard for them
Bitcoin cannot replace fiat as we are dependent on fiat at a moment to convert our bitcoins, so that we can have hard cash in our hands and we can use it for spending, things will be same in future too.
many people are always convert bitcoin to fiat and use it for everyday purposes
This proves that bitcoin is still dependent on the fiat. unless many traders. accept bitcoin as a currency or payment options. we don't need to convert to fiat. right ?
This proves that bitcoin is still dependent on the fiat. unless many traders. accept bitcoin as a currency or payment options. we don't need to convert to fiat. right ?
I think this scenario will continue for a longer period of time unless we don't find physical shops that directly accepts bitcoins as a payment method, until then bitcoin will always be dependent on fiat.
many people are always convert bitcoin to fiat and use it for everyday purposes
This proves that bitcoin is still dependent on the fiat. unless many traders. accept bitcoin as a currency or payment options. we don't need to convert to fiat. right ?
This proves that bitcoin is still dependent on the fiat. unless many traders. accept bitcoin as a currency or payment options. we don't need to convert to fiat. right ?
Bitcoin will always be dependent on fiat for sure as I don't see it replacing as we can't use our bitcoins physically to buy any product from physical shop.
to determine the price of a commodity or currency rates / currency to another, we will always depend on many currencies. but to buy something. we do not need to rely on fiat Well what else would it depend on?
Youre not going to see people running around with gold notes in their pocket and say "hey" heres my $10 worth of gold notes.
The world is already grown into the fiat system..
Youre not going to see people running around with gold notes in their pocket and say "hey" heres my $10 worth of gold notes.
The world is already grown into the fiat system..
Very right Sir. Without fiat how can we really know what the real value of something. I dont know how fiat will be change but I guess if something really bad happen to this world that is the time fiat wont have any value.
Well what else would it depend on?
Youre not going to see people running around with gold notes in their pocket and say "hey" heres my $10 worth of gold notes.
The world is already grown into the fiat system..
This one is great answer. Actually all other things will always depend in fiat to see/know how much the value of that thing is.Youre not going to see people running around with gold notes in their pocket and say "hey" heres my $10 worth of gold notes.
The world is already grown into the fiat system..
$437/btc now
Well what else would it depend on?
Youre not going to see people running around with gold notes in their pocket and say "hey" heres my $10 worth of gold notes.
The world is already grown into the fiat system..
This one is great answer. Actually all other things will always depend in fiat to see/know how much the value of that thing is. Youre not going to see people running around with gold notes in their pocket and say "hey" heres my $10 worth of gold notes.
The world is already grown into the fiat system..
Well what else would it depend on?
Youre not going to see people running around with gold notes in their pocket and say "hey" heres my $10 worth of gold notes.
The world is already grown into the fiat system..
Youre not going to see people running around with gold notes in their pocket and say "hey" heres my $10 worth of gold notes.
The world is already grown into the fiat system..
Btc depends on fiat, but that has NOTHING to do with the price of btc.
Btc could perfectly be worth 10k$ and still depends on fiat.
It could be worth 10$ and no longer rely on fiat.
Problem is the small number of companies accepting btc and the non existent number of companies paying in btc.
Btc could perfectly be worth 10k$ and still depends on fiat.
It could be worth 10$ and no longer rely on fiat.
Problem is the small number of companies accepting btc and the non existent number of companies paying in btc.
Adoption is the true determinate of the price of bitcoin on the current supply of it.
Btc depends on fiat, but that has NOTHING to do with the price of btc.
Btc could perfectly be worth 10k$ and still depends on fiat.
It could be worth 10$ and no longer rely on fiat.
Problem is the small number of companies accepting btc and the non existent number of companies paying in btc.
Big companies like apple, Dell, Amazon, eBay and many more are accepting bitcoin. Btc could perfectly be worth 10k$ and still depends on fiat.
It could be worth 10$ and no longer rely on fiat.
Problem is the small number of companies accepting btc and the non existent number of companies paying in btc.
Still bitcoin is lacking in awareness Once people comes to about bitcoin well. It makes more money.
I think yes the awareness among the general people is the key to success here, so people should be made more aware about the bitcoins, and if people starts adopting bitcoin, it can make a huge difference in future.
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