Bitcoin Forum

Wanted to understand if there is a concept of a truly decentralised fiat, with no government control, but collated to real world. It's high time such a currency comes to fruition, specially with CBDC's etc.  ???

Is there is any project going on to build it ?

I have heard of a project called Bitcoin that might be what you are looking for.

 :)

But then even bitcoin is pegged to a fiat, to make it usable.

I am trying to understand is there a better solution to this pegging to government-controlled fiat currencies.  ???

Bitcoin is pegged to fiat as long as you think so. 1 BTC = 1 BTC

I only trust Bitcoin and USDT. All)

Such is very counter intuitive. Hope you Google the different meanings of the Word "fiat" then compare that to the ideals of decentralized currency like Bitcoin. Fiat and truly Decentralized currency are contradictory. It should never be used together to mean Truly Decentralized due mainly to the fact that the first truly decentralized currency like Bitcoin is a voluntary currency system with participants who can join or leave the system at will.

Maybe Decentralized National currency will work OK rather than Decentralized Forced/imposed Currency.

Bitcoin could be called the currency of the free. The other is mostly for slaves.

The concepts of decentralization and fiat in my opinion are two things that cannot be put together. Fiat itself runs with regulations from the government while decentralization is a concept where it eliminates the intervention of the government or third parties in the transaction system. So I don't think a project like the one you described probably won't exist.

Bitcoin is not pegged to any other currency -- fiat, government, or otherwise.

"Pegged" means that the values are kept in sync. A USD stablecoin is "pegged" to the value of USD. Bitcoin is not "pegged" to anything.

The price being quoted in a particular currency does not mean that it is "pegged" to that currency. You can buy bitcoins with any currency. You can state its price in any currency. Its value changes with respect to those currencies, therefore it not pegged.

People use the word "fiat" to mean different things , such as

• 1. controlled by a government
• 2. has a value that can arbitrarily be set by some entity
• 3. has a value not based on the value of anything else

.

Bitcoin is not a fiat currency with respect to the first two definitions, but it is a fiat currency according to #3.

Given all that, can you restate your original point more clearly?