Bitcoin Forum

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.

Well at present it's definitely tied to fiat, whichever one you want to use.  Pretty much every currency is more stable than bitcoin, so it doesn't make sense to price things in btc (the price would constantly be changing, often dramatically).  So until it finds a stable value, yeah, it's tied to fiat.

And it shouldn't be other way than that.

Merchants are not speculators, if you price something in bitcoin and you hold bitcoin at the end the day you may have less value than you should, or you can have more and you have to pay capital gains and it complicates your accounting when the only thing you want to do is to sell oranges...

We are tied to fiat, as society and until then it will always be our point of comparison because that's what we earn and spend our money. We know the value of a flat screen, milk, a car, etc so we do that conversion. I think that's one of the main barriers of Bitcoin for being adopted massively, plus the decimals are rather complicated for common folks. It would be awesome for us all and very simple if 1 bit = $1 hehe...

https://www.youtube.com/watch?v=ak1iojpiHpM&t=22m33s

We haven't had money with intrinsic value since bananas were money.

It is already independent but in which case do you mean.
Bitcoin itself without fiat money has no value at all but with fiat the bitcoin value changes.

Not if you mine them yourself. Mining is the only way to completely detach Bitcoin transaction from other form of currency. (Or you exchange it for goods rather than some currency)

Not really, the ultimate dream is to have Bitcoin completely unpegged from any other currencies, and people using it directly to buy and get paid, that's how the Bitcoine conomy would fully flourish. Of course, as long as governments exist which issue their own currencies, this is just a fantasy.

No and no.

Right now you can trade bitcoins for products and services without any conversion to or from fiat.

That's true but the services or the products does not cost the same price in bitcoin.
Most of these changes when the bitcoin price/value changes which is not rare.

Only way that we don't rely on dollar or other currencies to use bitcoin is that Bitcoin should be the currency it self used by the governments but government won't be okay with this so yeah ... chances that Bitcoin will replace fiat are 0% and probably never going to happen .

As long as bitcoin is not adapted as the Euro or the Dollar, it will be depending on those currencies.
Bitcoin is indeed a currency but it's not big enough, seeing as it's not being accepted as much.

Now itself bitcoin is independent from any fiat, but only for value reference. For fixing a value, we need some references which must be most common and widely used. That's the reason we are using USD or EURO.
If we prefer we can value bitcoin in terms of gold, like 1 BTC = 0.42463 Ounce of gold  or 1 Ounce of gold = 2.356 BTC.

Fiat was tied to gold in the past. Coins were made from gold and people scrapped them to get an advantage before paying with them (that is the origin of the marks in the edge of coins, which were made to prevent that). When people got accostumed to exchanging fiat and somewhat "trusted" it, the gold dependance could be removed.

I guess it can happen to Bitcoin in the same vein. Once many merchants accept it and people use it to pay, it will be more "independent" from fiat (although it technically is already)

no one can answer perfectly because their no conclusion on this subject. no one is dependent on other, why even so many fiat currency are valued against another fiat currency that does not mean that any fiat currency is not independent, every thing is valued against each other,

today we can do purchase of goods , playing gambling, and so many things which can be done directly through bitcoins but in that also obviously the bitcoin price will be calculated through fiat currency. their is no single answer for this debate.

For as long as you can't spend bitcoin on a daily basis or pay for it in the stores, bitcoin will be depending on fiat. Until then, we're going to need fiat to exchange bitcoins so you can pay with it.

Always maybe bot, but for now yes we need fiat money to see what the value is from bitcoin.
We can just say that bitcoins is that much with out those fiat money.

i think yes. it will always need a fiat currency alongside it, unless we are going to massively use bitcoin as being worth 1 btc = 1 btc. if that doesn't happen, then nothing will change.

Irrelevant.

That's a personal choice of yours.

You choosing to use fiat instead is not any dependence by Bitcoin on fiat.

It's your dependence on fiat to get what you perceive to be a better deal.

Perhaps you should shop around. Many that accept Bitcoins give some pretty good discounts off the credit/fiat prices.

I think it will be dependent on fiat till end because bitcoin price can't be fixed as it is decentralized and price fluctuate with the demand and supply just like gold. So you can take bitcoin as gold and silver whose value should , will always be compared with fiat.

As soon as more people adopt BTC as their native currency fiat will be dependent on Bitcoin. You'll soon be calculating fiat in terms of BTC in my opinion ;)

There is always going to be Bitcoin and fiat in the world. There was topics on this forum before about Bitcoin ATM's and how they build a bridge from fiat to Bitcoin, which is definitely true. Not everything you can buy with Bitcoin and vise versa with fiat.

yeah but they now how much you cna buy with one bitcoin, because of the value of one bitcoin in fiat

if there were no connection between fiat and bitcoin, how do you know how much one bitcoin could buy?

The intrinsic value of bitcoin is nothing to do with other fiats. That is similar to US dollar. The bitcoin has a price, which depends on the value of other currencies.

For now bitcoin is depending on fiat, value wise. I think that if more merchants adapt to bitcoin, fiat won't be needed anymore.
But until then we still need to convert and exchange to fiat if we want to buy something in stores.

Yes because we need something to compare to what the value of bitcoin is. What if bitcoin wasn't depending on fiat, how would you know that 1 bitcoin was worth $450~?
I do think that this can change in the future once more people get into bitcoin. But for now we need it and it's depending on it.

I think that if fiat was somehow to fail as a means of payment bitcoin would skyrocket. So the dependance exist but that's because these two payment options are fighting for supremacy.

ftfy ;)

will bitcoin always be dependent on fiat?is it?

of course not... as you can see already.
a lot of stores in  my country or in any other country is already,
accepting bitcoin without converting it to fiat.
and also in some merchandise they are also accepting bitcoin already as is.
and in some countries i saw some in the news that they are accepting bitcoin for payment
in transportation. For now maybe now almost all country. but in the future it will be seen.

Do you really think states are going to let an alternative economy develop, and an economy they can't control? im not sure about this, so Im pretty sure we will see further regulations in the future, because they will do everything possible to stop Bitcoin disrupting the status quo of fiat supremacy as the ruling currency.

I think the answer is yes! Bitcoin is just a currency just like USD or Yuan. We exchange bitcoin to USD because there's not enough adoption for bitcoin! If it has more, bitcoin will be bitcoin without depending on fiat

NO, it's fiat that will be dependent on bitcoin. So when this fiat system collapses, the new paper currencies will be denominated and backed in bitcoin.

I think so yes because for as long as we are using fiat or at least need to use fiat on a daily basis, bitcoin will depend on it. Bitcoin can become independent if one day it will be accepted everywhere around the world.

Once more user adoption happens it wont need to be tied to flat atall, in fact you wont even need flat. Everything you would want to buy online u would do so with btc. Obviously prices you would have to compare to flat but thats the same with any currency i suppose.

Depends.But as long as fiat exists and is used by the majority of the people we will see Bitcoin being connected to it.
In a few decades this may change a bit and the new fiat currencies, again created by the governments after the big crash, might be pegged to Bitcoin.
Yeah I know for many of you kind of unlikely to happen, but damn it allow me my dreams please! ;D

I think the fact is, there is always going to be both currencies in the world. I don't think we will be able to fully adopt Bitcoin.

At present, the price of goods are rated in local currencies. So when you buy things with bitcoin, you need to convert to bitcoin. In the future, it is not necessary.

The thing about Bitcoin is that people can value it at whatever price they want to value it at. The market is entirely driven by supply and demand. In a market like that you definitely have to tie it with something that retains its value better and is not AS volatile. We need to get everyone to agree on one price. This will certainly never happen because of hoarding and market minipulation causeed by the Chinese dumps.

Btc  is  same way dependent on fiat,like fiat  is dependent on fiat.I cant buy  bread with dollar in Europe i have to exchange,with btc is the same

It has the potential to become fiat, but I have a feeling it will never be that way. I don't think the world is ready for an online currency just yet, maybe bitcoin will die out before the world is ready.

Well, I would not say that Bitcoin is dependent on fiat because fiat is just the medium of exchange used for other people to be able to use Bitcoin in the "real world", per say, and is not directly linked to it.

Example, if we all came on this board tomorrow, collectively agreed that 1 mBTC is worth $1, and would exchange mBTC for the equivalent of $1, then we would change the value of 1 mBTC to be approximately $1.

However other people might not be interested in paying such a large amount, and they would sell their coins for different amounts to people wanting to get more Bitcoin or those looking to get into the Bitcoin economy. The sellers might also have to pay for various other substances they cannot buy with Bitcoin, thus they have to sell their coins for $0.9, in order to get fiat to pay their bills. This may end up decreasing the value over time, as more people try to sell their Bitcoin first so they can pay their bills.

Bitcoin is linked to fiat only as long as we have to purchase some services or goods with fiat. Once you can buy anything with Bitcoin, the idea of Bitcoin having value changes to whatever is collectively agreed on, technically.

Hopefully It will become in fiat currency also dude. Upcoming year we can see many adoption in bitcoin through bussiness pioneers and It will to the all common people day by day. Even in my surrounded area also I am seeing So many people are aware of bitcoin but not completely.

I'm hoping for this to happen as well. What bitcoin needs is more awareness about it and for people to adapt to bitcoin.
More people adapting to bitcoin means more demand for bitcoin meaning the price of bitcoin will rise as well.

We don't know that people makes baby those baby are going to grow. So I think the new generations will use bitcoin if we tell them what it is.
Maybe bitcoin won't be the most populair currency but is something to be the second one.

Yeah exactly you are right. for example Onion not that importing to the city then automatically demand will araise on that onion and price will increase. thats the case. Same on bitcoin as well.:)

I agree with your statement. It has so much more potential than what it's worth right now. There are many possibilities with bitcoin.
Only thing we need is mass adoption of bitcoin. I'm hoping for bitcoin not to die before that time comes though.

I would not risk that this will go on forever but at the moment the situation is such that the dependency on Fiat currencies is the place to be. The situation may change as a result of world financial cataclysms people will cease to trust the authorities but I don't think it will come urgently.

That's not true. As more people know about BTC and start to use it the prices of things will be denominated in BTC instead of BTC in relation to USD.

Now its depends on fiat. May be this might change later. Also read this thread ► https://bitcointalk.org/index.php?topic=1287560.msg13234033

Yeah. I think so as well. There are always going to be fiat and Bitcoin in the world. I just never see Bitcoin overtaking fiat. Fiat will always be in the world.

Nothing always will stay at their current position so everything is relative
As much as i know for many many years bitcoin's value should be dependent on fiat.
Because most of the things are compared on "what value does this have in usd"

I really want this to happen before I die at least. Which will not be soon but still, sometimes when I'm thinking about bitcoin I feel like everything moves in slow motion and this reminds me that I have to be patient to see good things happen and look at a bigger perspective.

Bitcoin has every potential as to becoming it's own currency without depending on fiat. It will take years for bitcoin to achieve this.
We probably won't live to see this day though.

Right now bitcoin is depending on fiat for now. It take centuries for bitcoin to become it's own currency. I know one thing that has to happen for sure and that is mass adoption, which can only be done by people. If there is no demand for bitcoin, it will slowly die out or it will stay the way it is right now, with only us as bitcoin users.

I was thinking the same thing. If not a lot of shops and merchants are going to start to accept bitcoin, we are still going to need fiat in order to buy something from them.
In that case we are still depending on fiat.

In 100 years, people will not know about US dollar or other fiats as they are not used in daily life any more. So bitcoin is independent of fiats.

You are right about that. Bitcoin has the potential to become it's own fiat but until then we're still going to need the fiat we have right now.
It's not too bad if you're income doesn't depend on bitcoin.

I think for bitcoin become independent fiat still a long long way, but i can see the progress of bitcoin becoming one independent fiat

Bitcoin was not never, it is not already never and will be not never dependent of any kind of fiat money. Being dependent of those mean that its existence or its value be, in some way (whatever can be), dependent from some or one (whatever can be) fiat money. This has never happen, it is not happen now and will not be happen never (so even in the future). You cannot confuse our incapability to understand immediately the value of something in bitcoin with its supposed dependence (according to your post), from one or more fiat money. This is our problem not the problem of bitcoin. Bitcoin is the ONLY currency (except the other decentralized cryptos but that no one of those cannot compared with it in any way) which depends only by itself and the market. Every kind of fiat money is connected with the other similar ones. Controlled almost totally by at least one Authority (which own it). Bitcoin not. The only factor which can affect bitcoin is the demand (because the supply is well known and well defined). Increase of the demand bring increase of its value. Decrease of the demand decrease its value. That's all that can be told about its dependence. Simple and easy. Much, much more such than any other kind of currency (whatever can be).

Yeah and I don't think that bitcoins can replace fiat any day as you would always need fiat to purchase as everyone is not accepting bitcoins as a mode of payment and you need fiat to take care of all those needs and expenses So bitcoins is a digital currency and it would be always a digital currency as still many people are not aware about the bitcoins So bitcoins will always dependent on fiat and that is very sad.

I think it will always be this way until it can be universally accepted as a currency, at that point then it can stand on it's own two legs and not have to be concerned with Fiat, we are a good few years away from this.

as long as it does not be viral, bitcoin value will be calculated with fiat of course

Yes it is and always be.

For now there is no 'something' similar with fiat for convert bitcoin value.

Always I don't think so, but for now it will because with out fiat we don't know the price.
And I don't know what the government will react about it if fiat wasn't depending.

IMO at this moment it's not pegged to fiat as pegging measn a fixed rate. Of course as we do not have a real bitcoin economy where all sorts of goods and services are available we need to use fiat therefore we need exchange rates, but those rates are not fix at all and not defining the purchasing power of BTC, so I wouldn't call this pegging.

As long as there are countries there will be taxes and they'll be paid in currencies they have control over. Anyone who thinks otherwise isn't living in the real world. I can see whole economies that don't have much to do with fiat but there will always be traffic between the two different types of currency.

Presently, it's obviously strongly tied to fiat. Maybe in a few decades, this will change, but not soon.

The current adoption of bitcoin to gold is pretty much 10000:1. Not very encouraging, is it?

Bitcoin has the potential to become fiat, but I think governments are just too greedy to make this happen. Only time will tell.

Well, fiat is the current most usual mean to exchange products and services, and always will be needed the exchange of different currencies or commodities to find a common value. When bitcoin become the most usual currency there will be also needs to exchange it for other currencies, products or services.

Fiat is the basement of money, and from fiat other (digital or physical) currencies came from.
Neither bitcoin or gold can be  independent from fiat because the value of an item is compared in fiat.

It's not going to start with the dollar or euro. It's going to start in places where you have the combination of unstable, fiscally irresponsible government + moderately tech-savvy populace. Places like Phillippines, Thailand, Argentina, various middle eastern & eastern european countries.
One day, one of these countries will have a currency crisis, and bitcoin will be the "least bad option." And that's where it begins.

I don't think bitcoin can be completely independent in the future..i can say it can become independent for some goods say digital goods like domains etc but for physical goods like TV's? No,because Manufacturer who build tv prefer fiat and believe in fiat so he put the price in fiat also people have more fiat then they have bitcoins so price is in fiat..also the bitcoin is very volatile so it would be not profitable to just fix the cost of anything at particular bitcoins..it is much better to use conversation of fiat in bitcoins. :)

yes true, for now bitcoin will continue to rely on fiat money because the government still prohibits the circulation of bitcoin
i hope in the future, the government will accept it

some posts guessing and estimating bitcoin will be self-sufficient and no longer depend on fiat, even they believe bitcoin will replace the dollar, though it took a very long time, but the possibility is still there, because it could become a currency of some countries on future.

Its called trade value, every currency is tied to the other in terms of their trade value, if you go to forex exchange, you'll see price of dollar in euro and vice versa, that doesn't mean that dollar or euro are tied to each other but thats the value they represent in other currency.

When you go to buy something which is not offered in the currency you wish to purchase it with you convert it based on its trade value, so for ex. you go to buy something with Bitcoins but it is only available in dollars you convert it to it and then pay for it. Its same if you find something which is offered in bitcoins only and you have dollars to pay for it then you would need to convert them first to bitcoins to use.

That does not mean that bitcoins is dependent on fiat.

Yeah for now bitcoin cannot stand alone.
I wanted to see we could use bitcoin atm card for shopping in the future. but for now cannot be
we still have to exchange it into fiat money

For now? No, I dont think so. There's still too little amount of store that accepts bitcoin
But in the future, maybe fiat will be useless because of the inflation and bitcoin will be dependent.

BTC depends on fiat to an extent, you still can't use it except in association with fiat (a btc is worth etc...) and I think that will continue for the time being, maybe sometime in the future BTC will be an independent currency itself.

What is the value of bitcoin? On what currency do we compare on how much cost a bitcoin.
The answer is fiat, a bitcoin worth 400+ dollars, it will always be depended on fiat.

See if u consider it on a global level, it will always be relative. There is no such thing as standalone currency globally. But if u consider in a perticular region then there might be a possibility, when everyone adopts that is, u can consider it independent.

now this particular region can be virtual like games,gambling,online shops,etc. BUT even this is only possible when everyone can directly earn bitcoin on their own or they will have to just convert.

Earning bitcoins after adaptation for general population is near to impossible at the moment.

Thus the answer to your question is Yes it will always be dependent and never become a fiat... also no country owns it.. no govt can all of sudden come and declare it as official

One way or other everything depend on each other.Bitcoin just like precious metals is related to fiat somehow.It will be so till digital currencies replace the fiat completely.A cashless society towards which we already are running seamlessly.It is not dependence but inter-connection or circle of support from fiat.

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.

I don't think that it will done in future, bitcoin will always be dependent on fiat until the day comes when all merchants and shops starts accepting bitcoin as a mode of payment but it would take a long time and we are not sure whether it will happen or not.

Always is a long time - I would refrain from using it as referring to economic terms. We had huge shifts in the past, empires rose and fell - their currencies with them.
There no reason to believe the same thing won't happen in the future as well. Bubble will pop someday - economic situation is always advertised as stable - until it isn't.
And then bitcoin might have be the next big thing. It is very likely to happen during our lifetime.

Yeah bitcoin is a currency that is only available online. So to get bitcoin you need to convert fiat.
I can't see bitcoin not depending on fiat since it is only available online.

Is gold dependent on fiat? I would say technically it is not; gold has value whether fiat does or not. But no one seems to know the value of gold unless it is quoted in USD or some other fiat currency. so while the value of gold isn't dependent on fiat, knowing the value of gold seems to be. I would liken Bitcoin to this, but with the caveat that Bitcoin currently is dependent on fiat for value because it is still so widely unaccepted as a payment method. Perhaps in the future, Bitcoin will move to closer parity with gold as it relates to the USD as I explained above, where the value is truly independent of fiat, but I would say we are not there now and not really close either.

Well gold is valued in USD right? So we need fiat/ a currency to estimate the value.
People will not compare it to oil. Saying 1 KG of oil is worth 10 Brent barrels.

Nowadays, you can buy many things online by using cards. So I think we can use bitcoin online without converting it to fiat.

I don't think bitcoin will be always dependent from bitcoin.
In the future bitcoin will be bigger,better.
it will create their own currency for payments so fiat is not needed anymore.

for the moment yes, to buy bitcoin you need fiat!! Maybe in the future if people will get paid in bitcoin and they can spend bitcoin something will change

I think Bitcoin will always have some value in fiat but should we call it a dependance? For example in Russia if you want to buy something you should first convert your Dollars to Russian Roubles. Does it mean that the US Dollar dependent on Russian Rouble?

In the future, the bitcoin will be priced in other crypto currencies. It might be traded with Monero or Ethereum.

Everything is always calculated with dollar price, This is like commodities and other currencies. If you see websites they always use dollar as the main currency for seeing how large or small the price of one thing is.

correct. we still take a long time, to be able to make bitcoin stand alone. without relying on the dollar and fiat. for today is we have to rely on fiat

all right. off course not. bitcoin is a currency like any other currency that can be exchanged for various currencies and have value against other currencies
so we can not call that bitcoin depends to fiat

When BTC will be official country currency, then yes - you can buy bread with BTC price in that country.  ;) May be some country in South Pacific can implement BTC - when they will have electricity.  ;)

yeah right. I think, not because bitcoin is always priced in dollars, so bitcoin depend on fiat,
gold is also the same as bitcoin, has value to the dollar, but gold does not depend on fiat or dollars

I think yest bitcoin will always be dependent on fiat, as there are many countries who are not aware about bitcoins, and the people of those countries have only one option to buy products and that is fiat, I don't see them using bitcoins.

more or less it will if people will not start using only bitcoin and nothing else

Even tho that currently is true, it doesn't have to remain that way. When the customer and merchant number increases on high enough base, it could make
a new economical system that would not require one to own fiat anymore.

Additionally, if at some point bitcoin loses the volatility it currently has, that adoption rate could grow exponentially, as it is one of the main reasons people are finding
it hard to switch on to, when we're talking about direct bitcoin payments for physical goods w/o changing the BTC product price each day.

At a moment bitcoin is dependent on fiat, but cannot be sure about future, things might change in future, if bitcoin would be accepted everywhere as a mode of payment then we really don't have to depend on fiat.

I don't think bitcoin is dependent on fiat. Fiat at the moment is just a way to express bitcoin's value in a way that we understand it. Otherwise how would you say how valuable 1 bitcoin is?

What you are saying is correct but still in many countries you need to convert your bitcoins to fiat for buying products as they don't  directly accept the payments with bitcoins, so for that first you need to convert your bitcoins  to fiat.

This currencies are like how they equal bitcoin to a price in their physical money. For me, it is always like golds. Where you buy some for your investment and a price increase. The good thing about bitcoin is you can earn it through many types of work. Unlike gold where you have to mine it.

yes i think it will be dpendend on faint forever until we use it and give it its own value. like using and buying goods without converting it

it will always be dependent on fiat or we can't invest in bitcoin we need something to make bitcoin value so we can win

yeah agree bitcoin need value from fiat. we cant stand alone

i think it will always depend on fiat , why would everyone hold their coins for an increase in price so that they can sell it and get fiat . so that is the fact.

lol its mean gold also dependet on fiat ??

unless the people around the world  begin to be salaried directly in bitcoin, in this it's different

that is the wrong thign to dow with bitcoin, because bitcoin it's also an instrumean for buying stuff, learn to use bitcoin directly without relying on fiat, and you will avoid dumping and depending on fiat

nope will not forever. one day, we do not need to convert to a fiat to use bitcoin

this is the point, bitcoin need to became the first and only currencies in the world to be independent from fiat

I do not think it will, in a few years the bitcoin will be a currency, I'm sure of it because the bitcoin is getting bigger everyday. I think the bitcoin is the future of all currency's.

You can buy lots of things directly with bitcoins , but at the end you always must come to money again,
because system is still depend on it!

I think it will be independent on a moment, but it will take some time.
It will but we have to be patient, the future of bitcoin is petty bright.

its hard to answer what will bitcoin become,be like gold or money. i think ned more than 20 years for bitcoin to become independent payment,for now,let bitcoin depend to money.

Bitcoin will always need some kind of reference. And fiat and/or gold will be those references. How else can you estimate its value?

Yes that is right. Maybe someday it will be the one who will be used as a reference for other kind of currency, commodities and other stuff that will be used as a mean of trading. That will be cool its like hey "Gold is now 3 bitcoin."

so far bitcoin lways be dependent on fiat,maybe 5 years again will be,but i dont know 20 years again,i wish bitcoin no more dependent on fiat,and tottaly use bitcoin for every payment,and at that time i think banks was dissapear.

Beer, oil, big macs, rice, MW of electricity, gallons of gasoline, cigarettes, a month of rent in san fran..  shall I go on? 

I think maybe yes it will be dependent on fiat for many years to come, as I don't see bitcoin replacing fiat sooner or latter, as majority of people use fiat and are more dependent on fiat, so its impossible atleast for next decade.

bitcoin can't replace fiat soon or in the future even now many store accept bitcoin or we already have bitcoin ATM but when you sell bitcoin in exchanger you still withdraw local currency. that's why bitcoin always be dependent on fiat

Exactly, bitcoin can never replace fiat, even merchants starts accepting bitcoin as a mode of payment, there are many users who will be dependent on fiat and keep on using fiat for buying basic stuffs.

Exactly, there are basic things which only fiat can take care of, bitcoins cannot be helpful at that stage, and I don't see in near future that we can buy basic stuffs using bitcoins.

Bitcoin will be dependent on fiat for many years to come, majority of the people are not aware about the bitcoins and they are used to fiat currency, people who have never used internet how can they switch to digital currency.

It  is ordinary currency echange,bitcoin  is exchangable to any currency,if  not,bitcoin will die
bitcoin  is exchangable  to  dollar,yuan,euro,rubel,rupia etc

I think yes bitcoin will always be dependent on fiat as bitcoin cannot take care of us in everything, if the merchants are not accepting bitcoin as a payment system then you need to exchange your bitcoins to fiat for making purchases.

in fact we can stand alone. we could buy something or food, directly with bitcoin, without having to convert it to a fiat, but for some reason a lot of people who are lazy to use bitcoin, and convert it to a fiat, then spend

true if we continue to rely on fiat and continue to dependent on fiat, of course dissemination and adoption of bitcoin slowed, people who do not know about bitcoin, would not be interested if we continue to rely on fiat

Bitcoin will always be dependent on fiat, as of now I have to convert my bitcoins to fiat currency to make purchases from physical shops as they don't accept bitcoins as a mode of payment.

It is similar to the measures system we always make the conversion  in that we use more.

We are using bitcoin in online mark, some stores and more But still bitcoin doesn't reach it destination Soon It will reach to all simple people in the world. that time I am sure bitcoin will work without any support.
No we have to accept it because many people just selling their bitcoins for fiat.

Yes, bitcoin will always be depended on fiat atleast for next couple of years, as I don't see anything replacing fiat currency, the only reason is fiat is accepted every where and bitcoin is not.

???  I didn't mention counterfeitable tokens at all here.  "Only fiat can take care of" ???  What could that possibly even mean? 

You can always trade stuffs for any other stuffs.  Always and anywhere - not only in the future but right now and forever in the past.  Go, negotiate a price already!!   

Maybe things can be changed in future, if everything goes digital and each and every shop  accepting bitcoin as a payment method, then people would directly buy things using bitcoins.

What I want most is that I do not have to buy bitcoin to spend it. I will be paid with bitcoin and spend it as I wish.

To loose the fiat dependence bitcoin users need the possibility to be payed for its work with bitcoins. Before we can't choose that bitcoin wouldn't loose this dependence, and we will need exchanges to convert our fiat to bitcoin.

Yeah unless we can't spend our bitcoins directly to buy something, I think it will be always dependent on fiat, as we don't have that amount of store that accepts bitcoin as a mode of payment.

That's true, but it will take a long time for bitcoin to get on mainstream, as at a moment many of us are using it only for online stuffs and not physically, so we need to have patience for that to happen.

Well yes bitcoin needs an extra asset to convert it back or from bitcoin.
This can be gold or fiat. Right now fiat is used more so fiat is used for that.

And it will continue in future too unless bitcoin gets on mainstream, or else we can find each and every shop that accepts bitcoins, unless its not done bitcoin will always be dependent on fiat.

If the bitcoin is not killed by its developers, it will go to main stream sooner or later. Probably in 10 years.

not always. bitcoin just need time to be able to stand alone and be able to compete with fiat

No, with time BTC will be with itself. At current stage BTC is relatively new currency, all things start to change, when BTC will be more popular.  ;D

If more and more businesses will adopt bitcoin as a payment method than fiat could slowly lose its power.

Bitcoin has no single point of failure, making the network far more secure and completely tamper-proof.  Unlike fiat currency, where one institution is responsible for controlling the money supply, Bitcoin is consumer driven.  On top of that, Bitcoin has multiple points of distribution, as the mining process takes place all over the world. Once bitcoin comes to power no one can replace it.

agree with you the key all its adopstion of many community and people. if it happens of course we will not rely on fiat

if many merchants adopt bitcoin, of course they will all accept bitcoin, as payment
and we do not need to convert it to fiat

Correct but that will be far away from now. Risk will be taken when coming up with a plan on putting bitcoin as a currency for paying different kind of things. Plus bitcoin movement is really like a wave. It moves to much day by day.

I think that fiat currencies will always be around.  There is a place for both crypto currencies and fiat in the future.

That's true, unless everything thing doesn't get digital, people would continue to use fiat, as the users of fiat are more as compared to bitcoins, bitcoin will be secondary option for people.

No one can deny that Bitcoin does depend on fiat now. in every transaction we make we convert the value first.
About the future, It depends on how many merchants will accept btc as an independent currency

as long bitcoin not regulated and become national currency,it will always dependent on fiat.lets hope someday bitcoin regulated and become currency in some countries.

I think it will not happen that bitcoin will be fiat in the future that's impossible. Bitcoins is digital currency that you can make or generate true mining.
Bitcoin is use as  our currency online to buy stuffs goods or payment for service online.. Not in real life..

Well, when bitcoin will be more widely accepted as currency then it could slowly lose its dependence on fiat. But people must recognize. More people than there are at the moment.

It will depend on fiat only as long as modern payment methods as the QR code are not accepted and trusted.
This is the most crucial issue. Noone wants to sell something, and fear he wont get paid.
Once this works out, its has to be advertised, an easy to go solution.
And time will tell if sellers can trust.
Of course, with the volatile price, most of them would prefer an immediate exchange at current rate to fiat.
Maybe such services could be chained for those very cautious sellers.
Selling an antique for BTC worth 2500$ in the morning, could be BTC worth only 700$ in the evening.

It will be until the price stabilizes.  Because of the huge volatility of bitcoin right now, it's very risky pricing anything without constantly monitoring the price.

if many traders and state. adopt bitcoin, we certainly do not need to convert to a fiat to buy something right ?

There is one that I know that always converts it to fiat. He always says "I will just get 9 dollars from here" Instead of "I will get 2 milliom satoshis from this" that is one real story that tells us we are really fiat dependent.

I just wanna create a New Post, how to go about?

Cheers!
Nhlekza Boy

BitCoin rocks. MMM and BitCoin are deadly combination that benefit people at large.

Nhlekza Boy

Yeah and even bitcoin gets on mainstream there are certain percentage of people that would be still using fiat, so I don't think that bitcoin can ever replace fiat in future.

Exactly, fiat is popular at a moment and will be popular in future as the market cap of fiat is more in compare to bitcoins, so I think bitcoin will always be dependent on it.

Yes, I don't see bitcoin replacing fiat and it will be only possible if in future we find all shops that accpets bitcoin as a mode of payment, than it can replace fiat upto a certain extent.

Precisely. If all establishments were to accept bitcoin, only then would it be a serious contender in the replacement of fiat.

It will take a long time to happen, and its really difficult to predict that it will happen in near future, as we  don't find many shops that accepts bitcoin as a mode of payment.

Not if bitcoins are adopted by a bank or an organization just like we have Google credits and gift cards. If bitcoins too get their own recognition and value, we would have a better and stable market and then we could trade them just as we do now but it would be from one particular wallet and not the wallets we use now.

I don't see bitcoin replacing any major currency as of now and even in future, as fiat is more popular and it is widely accepted everywhere, and the people who are not tech friendly they would always depend on fiat.

Bitcoin will always be dependent on fiat. Only if people were to completely accept bitcoin would fiat be rendered useless.

I see Bitcoin as a tool that can be used to transfer fiat without boundaries, but not as a stable currency of it's own.  It's very rare outside of places like this forum that even pro-bitcoin business will set a price in BTC, it's just used as a way to get the money there.  Not that this is a bad thing, the stability just isn't there for it to stand on it's own... whether this will always be the case, nobody knows.

Yeah, and I don't see it happening in near future as the market cap of fiat is huge as compared bitcoin, so bitcoin would be surely dependent on fiat in future too.

There are chances if everything goes digital then we can expect that people would use more bitcoins as a payment method in compare to fiat, but that doesn't mean fiat will simply disappear.

That's true even if everything goes digital we would still find many users that would be dependent on fiat and they would continue to use fiat as they are using it since a long period of time.

That's the problem with traditional people as they don't want to experiment with new things, they would stick to the same thing they are used and never entertain the innovative things.

yeah agree. unless all merchants accept bitcoin. because basically money just to buy. if they accepted.of course we do not need. relies on fiat

That's not true even the older generation wants something new, and if they don't some new things then they would never accept internet too, but now they are used to it, only thing they want is good return on their investments and its difficult for them to trust bitcoins at a moment.

Yeah and the reason is they hesitate in investing their money in something that they really don't know, they have a fear of loosing their money by investing into digital currency.

Yeah exactly what needs to take place, but the factor behind it is the difficulty in establishments in most of the fields.
This can be done by regular promotion of bitcoin. Only then a dependence on fiat gets reduced to some extent.

That would really be impossible. Something is needed to be used to determine the price of something. Just look at this way. Someone ask you where is your money. You will take your phone out of your pocket and show him this is my money. Then what if you broke your phone or electricity is down. Those are the questions that will be asked once they want to start bitcoin as a means of money  "like a fiat"

If bitcoin becomes an independent currency, it would not be worth much as currently the only good thing is that it is volatile and can be traded. With currencies like USD, EUR and others, the price would be too low and we would never
reach $400-$450 like its now. Also, if prices are fixed in BTC, users would need to earn as well in bitcoins which would take years as currently people receive everything in their own local currency.

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.

That is right. I have said that a lot of times from different thread. We as humans wants something that we can touch. It is not easy for us to believe if we cant see it or touch it. That is how we are made.

well, unless more and more would start putting up a business that accepts bitcoin as payment for a physical goods..that way we won't be dependent on fiat, and make use of our coins without converting it...

Yeah thats right if it gets centralized and go into use, soon the value of the bitcoin
will reduce constantly and finally a fixed value might be reached. This should not
take place, It may result in the decrease of bitcoin users.

nope. in my county you can pay for food and drinks with bitcoin. simply scan the QR and you pay via mobile phone
does not necessarily depend on fiat

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.
Still bitcoin is lacking in awareness Once people comes to about bitcoin well.  It makes more money.

Adoption is the true determinate of the price of bitcoin on the current supply of it.

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.

yeah agree the problem is the adoption. This is solved. how we can accelerate the adoption of that?

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.

bitcoin and fiat will always meet. because fiat that provides prices for bitcoin.
$437/btc now

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.

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

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 ?

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.

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.

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.

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.

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.

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

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.

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 if the price of fiat drops, the price of Bitcoin will stay the same. So I don't really think it depends on fiat.

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.

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.

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.

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

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.

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.

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.

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.

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,

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.

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.

Fiat is the main power source of governments. This is why banks and governments are in bed together . ::)

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.

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.

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

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.

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.

I dont see it happening in fuutre, even if bitcoin skyrockets,  there would be many people who will continue to use fiat especially in poor countries where people don't have access to internet and electricity.

What?  Anybody who wants to can use it, there is no "allowed".  What did you mean by this? 

agree. actuallybitcoin be used without relying diligently. If you are using bitcoin in online. because many online merchants that accept bitcoin.right ? different in offline is still very little. This is just about time

He mean to say that he cannot use it in market or gas station as they don't accept bitcoin as a mode of payment, and he need to spend fiat at all places so bitcoin can never replace fiat.

This will be connected the same way others altcoins are traded against bitcoin,we need fiat to our life and bitcoin will be exchange and need the support of it otherwise have bitcoin would be almost useless ,since the markets avaible to spend bitcoin arent yet allowing you to buy anything with a warranty .

The answer is simple, yes bitcoin will always be dependent on fiat and the reason is we cannot spend our bitcoins directly anywhere, and in future also we need fiat as we won't find all shops accepting bitcoins.

I were trying to say that you cant pay your fuel with bitcoin at the moment.Soo yes you will still need the fiat to make something that i consider normal as buy fuel,the same thing happens when you wanna to go supermarket buy the things to your home,you cant pay with bitcoin ,and this is something you really need to survive,food.

Firstly; yeah, bitcoin does depend in its value in fiat nowadays and that's because its value is not stable yet. About the future, it depends on which one will last more; fiat money or bitcoin

if only popularity not a adoption. I think bitcoin will continue to rely on fiat. because the key is adoption.
Do you think bitcoin is already popular now?

So let me get this straight.

You think the only way that food could arrive to you is if you trade a fiat currency for it? 

Have you never traded bitcoin, or for that matter, labor, goods, or services for food?  Nothing?  I'm curious where you are from

Until we all got a job that pays in btc, I think it willbe hard...

i can't pay my bills with btc... the currency itself it's awesome but the world is not ready yet.

there's a very tiny minority who has this possbility, sure it's not me... I do lotta btc with mining, but my CC can't be paid using btc and my official job is paid in a normal form.

Hope that day comes :D

Yes because we need something to compare to what the value of bitcoin is. But right now, fiat controls all of the currency market if that can change somehow in next hundred years I think its possible for bitcoin to replace fiat. For me fiat is fundamentally flawed and totally corrupted so I would like that to happen one day! Question is will we see that in our life time or not?

Yes that day would be a great day for us. But I think we will not be alive at that time. That is the sad thing though. This world have many problems and to change that fiat to a new currency will take a lot risk.

I guess not. There are still a big percentage of poor people in the world. First they need is knowledge. How will they get knowledge about this bitcoin thing if they are not that well educated. Next is ACCESS, how can they access it. Basically, one option is a smartphone. How can they buy a smartphone if they dont have a bitcoin. Because it is the bitcoin world right?
So if you want to help them even for a little you cant give alms because he needs a smartphone again.

Many more to consider.

Look you are going on the wrong place with my comments,i know you can get money as food doing some tasks,my family isnt rich i had worked on labor already,what im saying is with fiat you can get anything you wanna,but with bitcoin you cant get all the things you need ,just that.

 

I'm sorry if I offend.  Its important to realize that "getting what you wanna" can be done with whatever you wanna.  Maybe an example would help.  Can you tell me something you can't get with gold or bitcoin or bags of rice?  I'll call the guy you want to get that thing from myself and determine a price in all three of those.  To be fair, sometimes it is quicker to go through a local intermediary fiat dealer, if you have a good one, than to talk with people. 

You mention that your family isn't rich.  I interpret that as being that you have grown up using counterfeitable units and assuming they are "money" and as a determination of who is rich or not.  Kind of the definition of poverty.  Escaping that is up to you. 

Bitcoin will be depending on fiat till it gets a acceptance to be used in its physical form. Till date we are in need to convert to fiat and use in places where bitcoin is not accepted.

That's the reality about bitcoin.. it still need a bigger number of users, and a number of merchants that would accept bitcoin as a payment, otherwise we will still be at this same scenario in many years if we cannot use it outside and in real life  purchasing in a store, lucky are those countries who already have physical stores that accepts bitcoin..

i think the topic si not talking only about acceptance, and not, but about the value that fiat is giving to bitcoin

even in the remote case that bitcoin is accepted everywhere, you still need something to give value to it

if it was not like this, how can you know how many things you can buy with 1 bitcoin?

I know we can exchange our bitcoin to get anything we wanna,what im saying is that you cant pay with bitcoins direct the same way you do with fiat,anywhere you go  fiat and card is the option ,you cant use bitcoin .I didnt get offended i know how hard is to get the things we eat,atleast some of them,the kind of work no one wanna to do and dont respect who  work there.

At a moment we have to depend on fiat to make purchases as we don't find many shops that accepts bitcoin as a mode of payment, things will change in future but till then we have use fiat for making purchases.

i think once bitcoin has some sort of main stream adoption it will get alot more attention and merchants will be alot more interested in accepting it as a form of payment.   ;D

True. If bitcoin is mainstream then we can see it being used by any kind of digital party. Which means there is no fiat needed anymore to buy bitcoins.
Or even to spend your bitcoin. I do hope that the price will be stable then.

For stable price you need huge market cap which is missing at a moment and never expect stable price from bitcoins as that is nearly to impossible and bitcoins will be used more in future but I don't see fiat going anywhere.

it looks very beautiful but to reach into mainstream bitcoin takes effort. bitcoin we should be able to spread throughout the entire world, so bitcoin become mainstream

Even if bitcoin gets on mainstream fiat will still continue to enjoy its existence as there would be many people who will use only fiat and not bitcoins, so both will be widely used in future.

Well the bitcoin if gets mainstream it will be used for us,the rest that doesnt have bitcoin will keep with fiat,the question isnt that ,bitcoin will be always an investment option besides all the advantages against the current fiat system,but in the end we will always be dependent of it,because its an investment currency allowing anyone to make a fortune from it ,but in the end no one will risk all the life into bitcoins as their value may drop ,soo people will use bitcoin and play with it but will convert a part of it into fiat.

No one can predict future precisely. But for a long term it will be dependent on fiat as we don't have any regulating body yet and anyone can mine bitcoins.

Even if bitcoin goes mainstream there still will be the need for fiat to convert it. One of the advantages of bitcoin is the fee.
If you go with a btc creditcard you still will need to pay for the high fees.

That's true and i feel that fiat will always be used by majority of the people especially by them who are not tech savvy and I don't think that they would be that comfortable to use any digital currency for making purchases.

Bitcoin and fiat will always be a team,as all wanna invest at bitcoin and take the profit and if possible the investment back into fiat and keep playing with the profit at bitcoin .

A payment is an exchange of one thing for another.  No difference at all.  What can I say. 

Anyway I am shocked at the idiocy of some other people in this thread.  I can only assume they are pretending. 

NOTHING is dependent on fiat.  The notion is absurd.  It is exactly the same as saying "if I am not robbed every day on the way home from work, could I still pay the rent?"

Of course you'd be alright - you'd have more money!!  "But oh no, what am I going to do without a totally broken system?" Oh I don't know, maybe use one that works? 

The whole point of fiat is to defraud idiots who give up labor and services for these tokens - tokens which are produced by the trillion at no cost!  How could anything depend on such fraud?

I believe so that bitcoin will always depend on fiat. Everything that fiat moves to another currencies, stock market this is how also bitcoin goes with the flow. Transactions of business as far from everyday life will continue to go with fiat and so forth with bitcoin they are always together..

yeah because of the exchange rate and the price of bitcoin always rely on fiat or examples of dollars. so both of them are like two pictures of currency, can not be separated. both will always be in touch

if bitcoin started to become mainstream of course it will be very interesting. I do not need to convert it to a fiat to buy something. I can directly buy goods at merchants by paying bitcoin because they would have accepted bitcoin. but for that to happen we must accelerate the adoption. so that we can experience it

I think bitcoin does not need to wait for approval or legality of the government, if adopted children is widespread and users already covers the whole world, would be a lot of merchants that accept bitcoin as a payment option right, so you do not need to convert it to a fiat

Sure you will always need fiat ,some people invested at bitcoin to get more money ,soo they can convert it and put it at banks at saving or some investment pack they offer,bitcoin has potencial and volatility not those almost safe services to make your money grow.

Its more like its a forced relationship if anything else.

Unless bitcoin was trading back for something else we all universally see as value then theres no choice.

As long as rent/mortgage and tax payments require fiat, then BTC is dependent on fiat, because people will have to cash out to make those payments.

Once the taxpayer starts accepting btc, and landlords/mortgage providers do, then BTC will have truly arrived as a currency in it's own right.

I also do it I realized. that we can not rely only use bitcoin just to buy something you know the reason right? so when I get bitcoin. I will convert it to a fiat to spend it for buy something

I don't agree. Many startups are coming out to make Bitcoiners spend Bitcoin to pay the daily necessities without the need of fiat money, like bitwala. http://coinour.com/index.php/bitwala-offers-free-charge-transactions-only-for-two-weeks/ Due to the negative interest in many countries, people are reluctant to keep fiat money.

I think it will still be dependant on fiat for a long time.
Unless you can do literally everything with bitcoin there still will be some dependency with other currencies.

Though the two are extremely different by the method of development as well backing, in common the fiat is present. It acts to be a connective bridge. So till the end of currency use bitcoin depends on fiat.

That is the right thing to say it. Bitcoin needs to be known by some individuals too. Just ask 10 persons outside the city ask if they know bitcoin and that question mark on the head will be seen all over him. Unlike, dollars, pounds, peso, etc etc this currencies have been known for many years.  I say bitcoin is still a  baby.

Well sure they can work with bitcoin as several exchanges but will them just hold the bitcoin or do they convert it to fiat?Sure this happens they need capital to run their business and if they invested 200k dollars at bitcoin they will get their investment and then maybe collect just bitcoins,buts its risky as no one can prevent the future of bitcoin.

One of the biggest examples happened here,last year most signatures were paying 0,10btc weekly,around 20-30 dollars,and this yeat all signatures reduced their payment to almost half of the value,soo for business that runs with just bitcoin the ammount paid should be the same being bitcoin worth 100 or 800?Sure not they pay the signature based on the value of bitcoin ,all depends of fiat in the end.

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

If I have to buy anything at a moment I need to convert my bitcoins to fiat, and I think in future also I will have to follow the same, so I think bitcoin will always need a support from fiat.

We will find places in future where we can use bitcoins directly for making purchases, but again we cannot afford to ignore the fact that fiat will be also used by those who don't believe in bitcoins.

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.

Dependency doesn't mean the system is not capable of running on its own. The dependence here is something like an alternative. So bitcoin will depend on fiat till some collapse occurs.

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.

Yes i think fiat is the basic necessity of the majority of us as even if don't have bitcoin fiat can take care of us but if we don't have fiat then situation would be horrible.

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.

Within a couple of years nothing would get changed. Bitcoin will be used over most of the countries legally but the dependence over the fiat will continue. Now too bitcoin is on its own legs.

yeah like another currency that is connected to the other currencies.
bitcoin currency will also become commonplace. certainly they will all be interconnected to all :D

As always it will. It is like the definition of something. How much is it worth? Defining how good an item or a thing is. Commodities, indices or stocks. Fiat will be there to say how valuable they are.

now most bitcoin used for profits and jobs where people that they do not have a job in real life. I think it's not a problem they will help bitcoin become popula. and bitcoin is not just a currency or investing it. bitcoin could be anything :D

all users expect bitcoin can be used directly. without the help of fiat or without converting to fiat to buy something
we want to be like another country's currency. accepted in a country. is it possible?

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.