Bitcoin Forum

If everyone in the world gets into crypto and cryptocurrency will become an official global currency, do you think bitcoin then will stop depending on fiat currency? Or will it just co-exist with fiat?

Well in theory that could happen if people only used bitcoin or crypto for transactions, but that's likely to never happen, just as the entire world doesn't just use one currency. Also you have to remember people are likely always going to trade it for something else whether it is fiat or another crypto and even fiat currencies are traded against each other and lose or gain value over time due to numerous factors so they will likely always co-exist together.

Bitcoin will still rely heavily on fiat money, but bitcoin will be an option for payment using fiat money, if we want to make payments in practical situations, we will use bitcoin, if the situation is normal then we will still use fiat money.

I am not sure if this exist now but do you think that a time will come when bitcoin will be used as payment for service? Like what is happening now but instead of paying in fiat money people will be paid in bitcoin instead?

What about using bitcoin as payment for goods and services? Do you think that will ever happen? Instead of paying with fiat money, it will be bitcoin instead?  Do you think its possible?

They will co-exist with each other. I am thinking that many country is not yet modernized. No internet, poverty all over, no suitable device, lack of knowledge on what is happening in the world. Third world countries are usually like this. Some people can use it but others can. If we push that it must be usef by anyone, how about the others can't? Usually when it comes to payment. Many countries are still depending on fiat when it comes to payment.

If all the people in the world join the cryptocurrency market, then I think the market is a bull market every day, and Bitcoin will become the "gold" in the network.

Yes it will but only when the world try to use Bitcoin for daily transaction. Mass adoption of bitcoin is needed.

Bitcoin doesn't actually "depend" on fiat money.It's price and value is measured in fiat money (USD and euro),but that doesn't mean that btc depends on those currencies.Bitcoin depends on the banks and the financial system,because most people ,who buy btc for the first time use credit/debit cards.

well you can not stop depending on something that you didn't depend on in first place!

bitcoin has never depended on fiat currency and apart from 1 user on this forum nobody else has ever made this claim in the past 9 years because it doesn't even make sense.

In some years it will surely happen.Bitcoin will have it's own individuality and it will not be depended upon any other currency.Right now we cannot use Bitcoin direclty.We have to convert it into the fiat currency of our country in order to use it. As it is gaining so much of popularity so soon a time will come when we will be able to make our transactions using Bitcoin directly.

it is a possibility but it is a long way from happening. massive adoption needs to happen and bitcoin should be less and less volatile over a long period . that way trust for bitcoin would increase and more and more  and people would embrace it, hence dependence on fiat would reduce

Um. Seriously? This already happens. Some people who work for crypto businesses get paid directly in bitcoin. Just check out the Services sub board here. It's an entire board dedicated to people offering their skills or work in exchange for bitcoin. Even you could do it. Many people even get paid by signature campaigns here and those are people who are getting paid to offer their advertising/promotional services. Not sure how effective they are to the people paying them but they certainly seem to be popular here.

I think bitcoin still depends on fiat currency. Fiat currencies are currencies created by the government and I think fiat will survive, and bitcoin will not replace fiat but will be able to coexist with fiat currencies.

People can choose to use bitcoin as a payment method to buy in future but as of now most of the people either using it as an investment or using it for gambling. In my country, I can't buy anything with bitcoin directly as of now so I'm investing only for the future profit. I buy things with fiat because they give security to buy online with unknown people but if we use bitcoin then need to pay an additional fee for the escrow and it may take even longer to deliver goods.

I wouldn't call bitcoin being paired with fiat as dependency but rather a manifestation of bitcoin's value in fiat. Like gold and oil having their value in fiat, I see that as the same with bitcoin. You can't say that bitcoin is fiat-dependent given that it continues to produce its own coins without fiat's interference. However, the whole economy, together with the traders and the miners are the ones who are dependent with fiat, not bitcoin directly. If you remove fiat into the equation of the economy, people might lose interest, though they can still use bitcoin if they so do wish and if there are still people believing in its value. Fiat is a vital part of the economy, but not the inner workings of bitcoin, I'd say.

Bitcoins will always exist in flat currencies, even if there is no flat currency then Bitcoin can not exist. Because the flat currency has existed so far, it has always been present in large-scale transactions, Bitcoin in particular and virtual currency in particular have been created and released to overcome difficult problems of money. Bad flat, it can not replace the flat currency by not anywhere on the earth are full of smart devices to trade.

If you think logically, it is unlikely that bitcoin will be separated from fiat money. The fact is that its price is measured in $ and if we consider it as a separate unit, it will simply lose value. Just like gold, if it could not be bought and sold for $ then its value would be small and consist only in using it as a resource for producing something. I'm sure that BTC and fiat money are only strong together.

In my opinion fiat and bitcoin money are both very important, bitcoin can make payment transactions on the internet, fiat money cannot be replaced.

Well ... it is unlikely (in my opinion) however in principle this is possible. For this, the capitalization of bitcoin should increase tens, if not hundreds of times. So in time ... and this process is not fast ... bitcoin in principle can displace paper money. They will simply not be needed, because there will be a stable and more comfortable bitcoin. However, I almost do not believe in this ... but it would be great

I do not think so. the benchmark of bitcoin is fiat, and of course most people are interested in it. well, so for now, I think the development of bitcoin is also influenced by fiat, especially the dollar.

I don't think btc depends on fiat. Really. It can be exchanged for other cryptos, and much more opportunities expected in the future.

I believe that coexistence would be more possible than being stand alone as a currency. We all know that a currency is government controlled and bitcoin will never be. It is an open ground where transactions can exist as payments or for any other related purpose.  Volatility is also one of the greatest problem it has so maybe it would be that hard to use bitcoin as a currency.

BTC will not stop, the traditional monetary system can coexist with unofficial cryptocurrency, BTC is the perfect complement to legal tender!
Bitcoin is not an ideal medium of exchange, like virtual gold!

This is very simple because We all know that a currency is government controlled and bitcoin will never be. It is an open ground where transactions can exist as payments or for any other related purpose.  Volatility is also one of the greatest problem it has so maybe it would be that hard to use bitcoin as a currency.

At present you can just get opinions from the users for this question as there won't be any definite answer right now. In my opinion "If" Bitcoin goes mainstream and becomes a globally accepted cryptocurrency then there are chances that it won't depend on fiat anymore. The chances for it to not depend on fiat will be high only when the fiat currency is demolished and there is another currency which is almost equally valuable as BTC. It might be another cryptocurrency too but until that doesn't happen the thing which you are asking is impossible to happen.

This is whether the users will stop using fiat as currency. Bitcoin is independent and can exists even without fiat. But the people using it are too dependent on fiat that they cannot compute the value of bitcoin without comparing it to fiat value. Maybe in the future this can happen when there is a generation who is not too dependent in fiat and will choose bitcoin as their main currency.

Satoshi intended for Bitcoin to be a alternative p2p payment network, so the ultimate goal should be to get rid of the

dependency on Fiat currencies and for Bitcoin to be accepted everywhere. The problem is Bitcoin is not accepted everywhere,

so we need to move between Bitcoin and Fiat currency to determine the value and also to pay for those services or products.

We are slowly getting there, we should just work a little harder.  ;D

I think bitcoin does not depend on fiat, fiat and bitcoin is not the same. volatility and the basic concepts of both are not the same.

So, in the future I think Fiat will be weak, bitcoin and gold will be strong and will be the currency that can store assets.

Probably the latter. I don't think bitcoin will be a global currency anytime soon or reach a level where if someone ask: "how much is one bitcoin in dollars?" and they reply: "I don't understand? one bitcoin is one bitcoin." The reason for this is people tend to prefer tangible over non-tangible things such as crypto.

All currencies are depedebale on each other, so bitcoin is and it will never change

bitcoin and fiat currency have to co-exist, they both are currency  but in different magnitude, while bitcoin is a digital currency ''cashless policy'' fiat is a paper currency, yes the world is gradually moving into a global cashless society, where virtually all transactions will be on digital currency, but not all services can be digitalized. for example, am going to the barbers shop, i dont need to pay digitally for such services, that where fiat comes in, to take care of immediate miscelleneous services, so definately fiat and bitcoin ''cryptocurrency'' will co-exist.

Even if the entire world accepts crypto currency, then also it would not become the wholly solely the ONLY ONE currency to be used for everything. This is because people will still be using their age old FIAT currency. So it may not get that recognition of a global currency. Also most of the countries are still against adoption of crypto currency. So this is far from becoming reality. Till then fiat is only what we have got .

I don't ever think bitcoin is dependent on any fiat currency.
Well, I think if bitcoin is approve to be one of the official world currency, then i think this will really increase the usage and get popular to almost every single person on the planet what bitcoin can do which fiat currency can't.

Bitcoin does not need to be recognized by any regulatory agency, it must first be used as a means of payment on a large scale. But in the current scenario is difficult, the trade of Bitcoins and alts has become a big deal, a lot of volatility and highly speculative, in this scenario it is difficult to be accepted massively, unless a direct conversion to fiat.

It will be a difficult divorce because the Bitcoin's baseline is the USD and at least for now that seems intangible. Having said this, with time it does not mean that this dependency can't be reached.

Bitcoin doesn't depend on fiat currency, that's the reason why there are exchange pairs that are not BTC/USD etc, most trades are done crypto against crypto nowadays. If the dollar completely went to shit, BTC would be stronger than ever, even though it would no longer be traded against the dollar.

Yes it will. But that will happening if only cryptocurrency became a global currency used by everyone in the world.
Many peoples still afraid using crypto because many hacking occurred in crypto. Developers of the coins should make a way to prevent hacking in the future, although the mistake is on the users side, not on the system side.

You are right. Cryptocurrency becoming a global currency is going to be a challenge because many of the third world and developing countries do not have the resources to even start getting into bitcoins. Perhaps not even altcoins. So while the other countries can adapt to crypto, those third world countries may not.

I see. Thank you for suggesting that. I have not checked out the Services board yet and I am a bit new to the crypto world so I did not know about providing services in exchange for bitcoins, but that is an interesting thing to find out about bitcoins. Thanks again!

crypto currency is nt depending on fiat currencies it depends on USTD once the Tether pumps then bitcoin price will increase automatically

I think that it is real in the near future. Btc can become an independent global currency that will be an alternative for FIAT currency. But there is long way to achieve this

[It is very possible for bitcoin to be fully independent of any other currency, the world of crypto is still growing, the time will surely come when bitcoin will be even popular than fiat currency.

If you say bitcoin will ever stop depending on faint then you are a liar because even thou bitcoin become the world universal currency we will still need faint to own bitcoin since it a store of value it must be acquire by faint no matter what and even the government own faint which will for ever remains the dominant currency. So at that bitcoin will depends on faint to survive in the exchange market.

In a few years it will definitely happen. Now that we cannot use Bitcoin, we must turn it into our country's fiat currency to use it. Because getting popularity so much time will come when we will be able to make our transactions using Bitcoin directly.

I don't think Bitcoin can exist without the ability to convert into fiat money. As long as people still like cash and national currency, fiat money still has the highest liquidity and Bitcoin's liquidity can't be as high. So fiat money still is the safest and most secure asset. For that reason, Bitcoin has to be converted into fiat money in case risks happen.

Digitalization is trendy, and Bitcoin is a digital asset, so Bitcoin is trendy. But that doesn't mean Bitcoin is able to get rid of fiat money. Bitcoin will lose it dependence on fiat money only when it replaces all existing currency, since using Bitcoin is somewhat risky and users always want to secure their asset and money is the most secure asset. However. is there any chance Bitcoin will beat fiat money to become the best method of payment and the best store of value? I don't think so.

Without the ability to convert into money, Bitcoin will be on the edge of disappear, I think. Holding Bitcoin is always risky because of its volatility. Your Bitcoins can be suddenly down to near zero or upsurge out of the blue. So Bitcoin has to resort to fiat money to lower the risks. No one will invest in Bitcoin or buy Bitcoin if it can't be converted into cash.

The concept - the official global currency is rather vague. Under it everyone can understand the situation in their own way. The states will allow the circulation of the decentralized crypto currency, but they will not actively support it. I also do not think that they will use it in international calculations. For states and their structures  it will not be profitable. Decentralized crypto currency is very suitable only for ordinary citizens, they will be its main users. Crypto currency will only go in parallel with the national types of currencies, they will complement each other with their own merits.

In the end, this will happen when Bitcoin ceases to be dependent on fiat currency. Too many people work in this direction.

as of now, bitcoin still spreading it's popularity all ober the world. we know that some countries still not accept it as n currency in their country. thy think only megative amd not in the positive way. also there are some country are still not modernize to know the bitcoin. but we can't deny thw fact that it can't be a number one currency all over the world. we know that.

Why do you consider Bitcoin as dependent on fiat currency? For now, Bitcoin is closely connected with fiat because it is still on its way to become fully independent. But if you try to look carefully at it, it could very well function without fiat. The fact is that the world is still ran by fiat money. Fiat money is still the primary currency of the world and in all of its countries. Thus, Bitcoin cannot easily get away from fiat relationship for now. But by the time Bitcoin will rise as the main currency, fiat will no longer hold any value to its function and adoption.

If cryptocurrency will officially become a global currency, of course bitcoin will no longer depend on fiat currency. However both of them will continue to run side by side because fiat currency's the product of the pride of each country which's impossible it can be eliminated just like that.

Bitcoin was born on its own however, most people holding bitcoin now got it using Fiat. Like it or not, bitcoin will somehow be dependent on Fiat as you cannot eliminate paper to go digital because of the literacy level of computer or smarphones for a particular group of people.

Yes when fiat finally fade away then it will be just cryptocurrency

I am sure if Fiat and Crypto will co-exist in the future, because that is a natural thing, if Crypto is able to take on the role of Fiat in the world. surely at that time technology had gone 'crazy'. crazy here means extraordinary!

I don't see such possibility in near future as most of the countries need time to embrace crypto.

Considering that many old tech are still relevant today (like radio, fax, television..) it's hard to think that we will stop depending on fiats: think about it, how much more would be complex to price everything with not so friendly numbers like 0.000034 vs 0.000023, people would get crazy lol!

So I think we will still have to rely on fiat for a while

When Bitcoin becomes exclusive and accepted by every nation, it will no longer depend on currency.

I think bitcoin will never coexist with fiat, because some countries still banned bitcoin, even claiming to be illegal currency and plus bitcoin not yet officially recognized in the world may be just recognized by the general public

this is true, I agree what you say. I think this is good for the knowledge and insight of OP for assessment on bitcoin.
and I think, crypto will not be the world currency, because after all each country has fiat currency that has been protected by law.

it will be very difficult to replace banknotes in everyday life, what has happened for so long will be difficult to replace, but Bitcoin will compete with paper money, it may take a long time for bitcoin to replace paper money, for now it will probably be together until someone relents..

I don't think bitcoin depends on fiat or dollar. this is different from the real stock exchange. You have to know that, I think your logic must be slightly changed to better understand the crypto market.

I agree. Of course there is a possibility but I bet, it will not happen. The ability to use bitcoin is still on the hands of the government though I don’t think bitcoin depends on fiat in the first place.

Now the price of BTC can be bottomed out.

Would you exchange Bitcoin with something other than fiat mate? I bet the answer is a no, fiat is widely accepted and is

The best thing to get in exchange for your Bitcoins, even if you buy services with Bitcoin, the one selling you the service

Is going to sell the coins and get fiat for them to spend for something else.
Bitcoin is not supposed to replace the paper money, Bitcoin is here to compete with fiat and banks eventually.
Who says that the ability to use Bitcoin is in the hands of governments? you can send and receive Bitcoin without the

Middle man, the governments have no hands in transactions.

Bitcoin does not depend on fiat. We use it to measure the value of the coin. Here valuation using fiat does not mean it is dependent on fiat. It is totally independent of fiat influence. We just use it as a reference frame to measure the value of the coins. We can also measure it using some other coins too, but does that mean it is dependent on that coin? Nope. And yes, the chances of them co-existing is very high.

I would not call bitcoin paired with fiat as a dependency but rather a manifestation of the value of bitcoin in fiat. As gold and oil have their value in fiat, I see that is the same as bitcoin. You cannot say that bitcoin is fiat-dependent because it continues to produce its own coins without fiat interference. However, the whole economy, along with traders and miners are people who depend on fiat, not bitcoin directly.

if it's used globally, volatility should decrease and there is not the reason anymore to be tied to fiat currencies in trading. Perhaps it will be more exchanges for other altcoins

It is possible if the crypto trading stops and bitcoin payments accepted world wide but for now it looks too early many people don't acknowledge the existence of crypto currency and the people who knows it using for making money with its volatility so too early to say that we are independent of fiat money but the time will come and we will use our money with full freedom.

But the question will be "Will that ever happen?" One currency ruling the world will have its disadvantages.

One, some countries already have a lot of bitcoins users or some countries have big bitcoin users while there are countries that don't have much bitcoin users. Basically some people already have tons of this currency while some have very little or none at all. This is an abnormal distribution of wealth. A regular country might suddenly become a dominant country only because they were the first to adopt bitcoin and the nation was able to accumulate the most bitcoins. And one country might start failing just because they were late to the bitcoin party.

Two, there's the digital divide (https://whatis.techtarget.com/definition/digital-divide) problem. Some countries simply don't have a decent Internet connection. You might be living in a country or in a city where you can get a signal reception everywhere. But there are places in this world that's not uncivilized but the Internet service providers are just so shitty. This limits us from doing transaction. Some people also do not know how to use the computer. Some don't even have a Smartphone. Digital divide has to be solved first before bitcoin can stop depending on fiat currency. Otherwise, fiat will always be there and will always be dominant in some places of the world.

The best case scenario will be that bitcoin and fiat are coexisting and will stay the same until digital divide is solved.

Well I don't know for sure if it will stop depending on fiat currencies.  If bitcoin is given the opportunity to be independent of its self then it will be globalized and popular than the way it was.  The operates of the fiat currency will have no other option than to embrace it.

If the world only using bitcoin, i think it will be not safe because bitcoin price is often to fluctuates in the market.
But later in the future, maybe everyone start to using cryptocurrency only, fiat currency is not usable.
Cryptocurrency has been created in 2009, it is just only almost 10 years. Need more time i think.

Fiat will remain, and will still be used because it is a national currency. Bitcoin will not replace fiat and I think fiat and bitcoin will still be there according to their respective paths.

It's not in the hands of government. It's in the hands of the people. If people just started using it instead of fiat it would achieve dominance naturally and maybe people would stop using fiat or use it less and less and then there would be nothing that they could really do about that, unless they try ban it, but under what grounds? They can't ban gift vouchers or people from accepting foreign currency so this would be no different. This could certainly happen in the future, but I see bitcoin working alongside fiat as option rather than taking over completely.

It is impossible because it is the main currency and everyone still depends on it and if possible then also it will take several years.

Bitcoin can never stop depending on fiat and that is why I always believe that fiat will continue to exist even with Bitcoin.

What will be the means of exchange for bitcoin if there's no fiat for those people that doesn't really like bitcoin.

We have to accept the fact that bitcoin and fiat will continue existing at the same prime but who knows, we can't see the future.  :)

In practice, some persons will always use the fiat. Not everyone will be able to use Cryptocurrency, as we have different classes of humans world all over and some areas and places have technological limitations needed to fast track the transactions of bitcoin.

And who told you that bitcoin depends on Fiat money? He is completely independent of them. Bitcoin is influenced by many other factors, such as the media, which are always screaming that bitcoin is a soap bubble and will soon burst. It has nothing to do with Fiat money.

Bitcoin is actually type of payment. It is totally decentralized currency. The value of bitcoin is measure by USD. If bitcoin is not depends on fiat currency then how can we predict the value of bitcoin. And secondly government allow only that currency which is regulate and control by them. So I think it is hard. But in future market can turn to any way.

fiat is something that will not go away from the market. There will be countries where the people will not be able to enjoy the crypto and will be left with the usage of fiat. Plus BTC and fiat are two different tangents.

BTC is there for the transaction of money over the internet, and to some extent, fiat cannot be replaced. Does not matter how much we want to revolutionize the world with cryto, some parts will always be underprivileged.

Bitcoin will always depend on your regional fiat as long as that is the dominant currency that you use. It's like asking will oil or gold or stocks and shares ever stop 'depending' on dollars or whatnot. Well we use the dollar amount because that's what we're familiar with and use every day. If more people start using bitcoin than fiat then that will likely change to where we don't even think about the value in anything else and people actually even ask things like "how many dollars can you get for a bitcoin these days?". That really would be success. I'm not sure if that will ever happen though, but 'depending' on fiat isn't really a bad thing.

Now a day’s digital currency are growing so fast. So I think there is possibility that btc can be the money of future and stop depending on fiat money because People can use it securely without any permission.

First, hardly ever all people will use crypto currency, at any rate, it can happen not earlier than in several decades. Secondly, the official global currency of the crypto currency can only become for ordinary people, I do not think that the states and state structures will make wide use of the decentralized crypto currency. If this happens, the decentralized crypto currency is not dependent on fiat, and will not depend on it. The Crypto-currency can only go in parallel with the national paper money of various states and can not replace them. Therefore, it will coexist with the fiat.

Decentralized crypto currency is not related to conventional currency and therefore will not depend on it in the future. At the same time, it can not replace the existing national money and can exist only in parallel with them. In this case fiat and crypto currency can complement each other. States will not take decisions on the transition to a decentralized crypto currency, since this will have a very negative impact on the economy of any state.

I would say no.
We are still buying and exchanging cryptos using currencies. Americans use US Dollars; Europeans use Euros to buy bitcoin, ETH, etc.
They are always together and depending on each other.
Also the stock market could also affect the crypto market in some ways if you pay attention.

Yes, if bitcoin will develop it would be possible. This requires that bitcoin has a much larger capitalization than now. Then what happens is what you write about

If Bitcoin is declared as legal commodities for paying good and service and a law is sustaining it BTC will not really too much on fiat now, but as of today bear the truth that crypto depend on fiat...

But continue to advertise and encourage people to use it this way we help the progress of crypto faster...

Cryptocurrencies will certainly replace fiat money sooner than you think
Cryptocurrency is disrupting the financial system because it has quite a number of advantages over the conventional currency such as the dollar. By eliminating intermediaries, digital currency gives you more control of your finances. Besides, it can be used as a hedge against the inflation of the dollar. Most cryptocurrencies are also extremely secure due to the use of dual-sided cryptography for every transaction. Bill Davis, a public sector Digital Strategist & Design consultant, says cryptocurrencies use hashing to effectively verify the integrity of data by systemically representing large amount of data as short numbers that cannot be replicated.

Unlike fiat currency, cryptocurrency cannot be debased by any government because it’s not tied to it. Even the governments cracking down on it are actually making it more valuable. Fiat currency can become worthless when a government gets replaced or falls apart. And it goes without saying that no government is immortal.
 Blockchain may still be in its infancy but the best case scenario is a global financial revolution. Fiat currency is a system that heavily relies on debt, and that system is failing everyone who isn't a bank. Most crypto projects are still in their early stages of development and still have years before they can prove their uses, but when they do we really could see the largest transfer of wealth in history.”

It seems we’re hesitant to accept that cryptocurrency is quickly becoming a new kind of money. In essence, Bitcoin is already miles ahead of the dollar. Right now it’s worth thousands of times more, yet this is just the beginning. What’s even interesting is the colossal number of people who have never heard of it or those that just chose to ignore it. However, it’s a matter of time before more people jump on the bandwagon.

User-adoption is a legitimate challenge facing cryptos today; nonetheless, all cryptocurrencies are still in their infancy. It’s pretty much like the internet in the 1990’s. During its early days, the internet was only used by nerds. A few years later, it saw rapid acceptance and adoption. Now, we all live on the internet. This is exactly what will happen with cryptocurrencies. So, it’s just a matter of time before the rest of the world catches up with this technology. cryptocurrency holds a long-term promise owing to their fast, secure and efficient payment system. Ramson says cryptocurrencies’ innovative ideology for a more secure monetary future will be the key driving force behind their adoption as a payment method. so ofcource in no distant time bitcoin will definately be indepenend of fiat. Regardless of how governments or investors feel about the impending switch from conventional currency to digital forms of currency, the wave of change is unrelenting.

Both of them will walk side by side, and everyone in the world can use both or one of them, it all depends on the situation which one is more profitable. In many ways everyone in general will definitely choose something easier which's judged to be practical, especially those that benefit him. Well, bitcoin's right for it all because in my opinion bitcoin's more efficient than fiat currency.

If you are asking for personal opinions then I think it will coexist with fiat currencies rather than totally replacing it. Just like how credit cards and debit cards work right now. So, ultimately it will have to rely on fiat no matter what happens. The reason behind this is because we have been accustomed to fiat so much that we find it difficult to replace it with any other currency.

I strongly disagree with your thoughts. Bitcoin will not be a means of payment in all countries, it is theoretically impossible. I am sure that other coins will be the means of payment. And bitcoin will become an asset that people will keep.

I think bitcoin will still depend on fiat money. Because to buy or invest in bitcoin we need fiat money, maybe just that. I think bitcoin will coexist with fiat currency, because not only  bitcoin which is needed by many people, butz fiat currency is also needed in everyday life.

The dependence over fiat will come to an end only when the direct usage of bitcoin as well other cryptocurrencies keeps increasing with the mass adoption as well with the increased acceptance of bitcoin all around same as that of traditional fiat. As of now it needs time to achieve the same, so dependence over fiat will continue.

Till now Bitcoin still rely on fiat currency but bitcoin will be an alternative for payment using fiat currency. If we wish for to make payments in realistic situations, we will use bitcoin.

I think bitcoin is never depending on fiat money but bitcoin comparing with fiat is just to know how strong is bitcoin pair with fiat money.  Bitcoin strong or not is not depending on fiat but depending on supply and demand. Of course all peopl know about supply and demand.

Bitcoin is not really dependent on fiats, the dollar or euro value of bitcoin is just the simplest way we can relate to value goods and services which often are outside the crypto world

It doesn't depend on fiat at all. In fact it operates independently and completely separate from any fiat currency on its own bespoke network system. We can't help what others exchange it for though, but if fiat ceased to exist then bitcoin would continue on just fine.

Bitcoin basically doesn’t depend on fiat money rather than just the price and value is measured in the fiat money. But that doesn’t mean that BTC is depended on those currencies. As most people use credit/debit cards for the first time, so BTC depends on the financial system and banks.

If all workers were paid in bitcoin instead there would be too many complaints by the people in countries with a strong currency. It would be great in venezuela where money is worthless anyway, but not everywhere in the world. That means they will always need fiat to bitcoin conversions

But what if bitcoin becomes a 'strong' currency? There's no reason why bitcoin couldn't stabilize at some point in the future.


Not necessarily. What it bitcoin becomes the 'new normal' and the dominant currency? Fiat currencies can and do fail as well. Sure, less likely for very strong currencies but when you print more constantly it can have a knock on effect very quickly and that's when hyperinflation starts and currencies lose value very fast.

Bitcoin doesn't depend on fiat currency, period. It can be exchanged to fiat and could be used for similar purposes overall, but they are nowhere near interdependent, at least in theory. Bitcoin as a cryptoCURRENCY and fiat are competitors in the financial market for the spot of exchange value measurement tool.

I think that when capitalization of bitcoin will be equal to at least half of the daily turnover of money in the world, then it will cease to be dependent on fiat money.

What’s wrong with bitcoin depending on fiat currency? What’s wrong with banks and governments? Nothing. These things can get along pretty well.

Predictions of future investors when the cryptocurrency market proves itself independent. Bitcoin will probably be limited.

In my view, it is clear that when all of people in the world accept bitcoin as a currency, then we don't need fiat anymore, also the prices will be stay steady and there is no bull or bear anymore.

As soon as Bitcoin and fiat will coexist, BTC will always depend on the traditional money. Unfortunately, this is the reality you should better take - fiat will live all the time when the mankind exists.

I don't see that happening now,  unless there will be a physical coins of bitcoin. Most bitcoin transactions are done hand with hand with fiat currency. If I sell my bitcoin am expecting a payment in fiat currency as bitcoin is not yet world wide acceptable unless this happen, bitcoin will still depends on fiat currencies.

There are already physical coins of bitcoins, but not sure why we would need them to stop bitcoin being dependent on fiat. Bitcoin to me is the evolution of currency and going back to paper or physical coins is a step back because they're antiquated technology in terms of a monetary system. Even fiat currencies will almost certainly ditch paper and metal  eventually and go fully digital. Physical cash is already used less and less and plastic is becoming the norm but even that will likely be replaced by people just using their phone to pay with things.

it seems that crypto dominance will not be able to replace the power of fiat money, fiat money continues to be used because it is considered safer and stable when compared to crypto. In addition, the government will not easily give up the national financial system to a decentralized system because it is very risky.

This is an interesting and it's hard to say, depends on really what happens in the future.

It can of course coexist, there is place for every preference in this world now and each one of them who become popular have their millions of users - It can also be inside the stock market along with all the other investment coexisting with them.

However, unless a new law comes into place there is no reason why fiat would disappear for good.

Not only bitcoin that is needed by many, butz fiz currency is also essential in everyday life. Until now it takes time to achieve so, so dependence on fiat will continue. If we want to make payments in real-world situations, we will use bitcoin. I think it will definitely take the fiat currency position.

I don't think. It wont stop because we need money to buy more bitcoins. Also what should we do when we try to withdraw our money and want to convert it into fiat. Both need each other and both are depended 

you have a point but we can still use other things as long as it has a value if ever fiat currency didnt ever existed but that method is a bit old . nowadays banks and governments are now already issuing fiats so that they can monitor the ins and outs of it . i guess they will use fiat money in order  to measure if how rich or poor a country was . thats why i dont think fiats will be extinct even if cryptos were widely accepted all over the world  .

At this early stage, bitcoin won't stop depending on fiat. Not everyone understands it nor uses it as a means of payment. Besides most countries have fiat money that is a generally recognized and accepted legal tender. To transact you need first to recognize Bitcoin isn't understood by everyone and hence must convert to what they understand and accept before you can both have an understanding! Bitcoin is tech, and like cars when they first came into being not everyone understood them. It took so long to have them become an everyday companion. This is how Bitcoin will gradually receive attention and become used.

Well, if this happens, of course bitcoin will become independent and will create a price for himself, but for this the cryptocurrency market should grow in many times and governments must legalize bitcoin and cryptocurrency, then fiat will can not do anything and the bitcoin will have a completely different development.

People can refuse from fiat money in the event that the Internet on the planet will be available even in the most distant forest in Siberia, for example. And if everyone can access this Internet. Otherwise - cryptocurrencies will exist together with fiat.