Why is Bitcoin still a slave of Fiat?

[kokorotomoto]

because we can not transaction using bitcoin.

[PalindromemordnilaP]

That's because people are investing in bitcoin to earn fiat. Fiat is still the suitable money for everyone to buy goods and pay for services. Bitcoin become an investment of people because it's the investment that can give them huge profit which can make them rich.

[Tagabukid69]

In real world, Fiat user's are dominant and bitcoin are just underdog to the environment, This means, there are still more opportunities, and more people needs to educate about cryptocurrency, a Few years from now, adaptation takes place and eventually all of us are united to transact   using cashless mode of payment.

[Ishiro5]

REally not a slave, but bitcoin is obviously still subject to fiat and the reason is because bitcoin has yet to attain a quarter of its potential. If we look at it democratically, fiat still has more vote than bitcoin, so bitcoin still has to somehow bow for now, but i bet this won't last for too long.

[bib24]

Even bitcoin is very popular nowadays but still  can't defeat fiat currencies. Fiat is legal and acknowledge in the world market, its use is unlimited. We hope that bitcoin will continue its progress in future and surpass its limited capacity.

[jgaspar]

I think the price of bitcoin is surely depends on demand that we, as traders and investors create, without it - bitcoin is worthless

[systematicdeception]

Never thought like this. Maybe, I am not expert but as for me Bitcoin isn't a slave of Fiat or any other currency. It has a large potential and it will provide great chances to earn money soon

[shelimy]

Unless it gets accepted widely, and that people take it as a real currency rather than virtual money, it will always be compared with Fiat. Though, there are still places where Bitcoins are accepted and so, due to the acceptance, value doesn't matter for them there.

[lynlyn]

Even bitcoin is very popular nowadays but still  can't defeat fiat currencies. Fiat is legal and acknowledge in the world market, its use is unlimited. We hope that bitcoin will continue its progress in future and surpass its limited capacity.

My friend its not a good used that term to describe the bitcoin from fiat.Bitcoin is not a slave but a helpful currency to convert fiat and have a unity to people's needed financially.

[LeaderAMB]

Unless it gets accepted widely, and that people take it as a real currency rather than virtual money, it will always be compared with Fiat. Though, there are still places where Bitcoins are accepted and so, due to the acceptance, value doesn't matter for them there.

Always some countries may accept bitcoin but jut a few of country. Besides, there have too many countries that don’t accept bitcoin, even  most of governments baned bitcoin in their country agressively. Fiat is truly a traditional currency and a mean of transaction that humen being have been using for long time and still a stable payment but bitcoin is not. Indeed bitcoin is used worldwidely, but it’s still too small number of people  know about it. it’s hard for bitcoin to be accepted.

[lastnumber]

I do not think Bitcoin is a slave to Fiat. Everything has its rules. Fiat was born and developed in a very long time with the development of society. And in the future, Fiat retains its own values. Bitcoin was born and developed to this day only a few decades ago. It is clear that Bitcoin has made a great leap forward in calculating the time-to-value ratio. We should not ask Bitcoin to replace Fiat right now. That does not conform to the rules of trade development.

[BartS]

Why is Bitcoin tied to Fiat? Why is Bitcoin value moving like a stock? satoshi said the value will be derived by the limit of total coins. But we are seeing the opposite. Why dont we mathematically calculate the value of bitcoin according to the amount of bitcoin mined?

Like

Agreed Value * Bitcoins Mined = New Value

0.0010 * 1 = 0.0010
0.0010 * 2 = 0.0020

Because everything is tied to fiat, did you really expect that bitcoin out of nowhere will not be tied to fiat? Because that is not the way it works even human labor and time is measured in fiat, the only way that changes is if bitcoin is able to replace the current fiat system something very unlikely by the way, so for the moment the only thing that you can do is to accept that fact and either take advantage of it or wait until the date that is no longer the case, and since we have no idea when that day is going to come people have decided to try to take advantage of it and that is why they speculate with the price.

[Herbys]

I think that Bitcoin's cost is conditioned by supply and demand - the main elements of the market mechanism.

[baconlike]

Even bitcoin is very popular nowadays but still  can't defeat fiat currencies. Fiat is legal and acknowledge in the world market, its use is unlimited. We hope that bitcoin will continue its progress in future and surpass its limited capacity.

My friend its not a good used that term to describe the bitcoin from fiat.Bitcoin is not a slave but a helpful currency to convert fiat and have a unity to people's needed financially.

Fiat is the currency of the country. They are highly liquid, they are not easy to be replaced by the BTC, although the BTC is currently developing but still has many shortcomings and risks. It is impossible to replace Fiat now and in the future.

[bib24]

It is because all transactions involves fiat, bitcoin in the other hand has a limited access only. At the end of the day we still need to convert our coins to fiat so we can used it for our daily activities. 

[Sum24]

I do not think Bitcoin is a slave to Fiat. Everything has its rules. Fiat was born and developed in a very long time with the development of society. And in the future, Fiat retains its own values. Bitcoin was born and developed to this day only a few decades ago. It is clear that Bitcoin has made a great leap forward in calculating the time-to-value ratio. We should not ask Bitcoin to replace Fiat right now. That does not conform to the rules of trade development.

Bitcoin has amazing past and a bright future it is not a slave and it will never be. Bitcoin has high demand and very good price pumping dumping nature which increase the demand even more because fiat will remain the same forever and it will not give profit to the users so for me bitcoin is golden currency which gives you profit and you can use it to buy goods and get saving as it use to increase in price while money remain the same so no profit can be expected from fiat and bitcoin is the king of all other currency.

[Ryker1]

I think the price of bitcoin is surely depends on demand that we, as traders and investors create, without it - bitcoin is worthless

I agree with you, bitcoin depends on the users and investors demand. Since fiat is the currency of the country, it also depends on how much the price change or how much its value. I also think the same, bitcoin is not really a slave of fiat, bitcoin just need fiat, because bitcoin is converted to fiat so we can buy with it. I agree that without fiat, bitcoin is worthless, because we buy things with our own country's currency, I think that's why.

[Damn3d]

Yes, I agree, that bitcoin is depending not only on a math, but also on the people and news, and whales, and on the mysterious shit causes it to fall xD

[cryptoalfs76]

Why is Bitcoin tied to Fiat? Why is Bitcoin value moving like a stock? satoshi said the value will be derived by the limit of total coins. But we are seeing the opposite. Why dont we mathematically calculate the value of bitcoin according to the amount of bitcoin mined?

Like

Agreed Value * Bitcoins Mined = New Value

0.0010 * 1 = 0.0010
0.0010 * 2 = 0.0020

Definetly bitcoin,is not a slave in fiat,they are working together to create there own monopoly into the world of cryptocurrency,while in other hand  bitcoin value is moving like  a stock that known like each other because  cryptocurrency is volatility and its depends on the demand in the exchange market and same also happen in the stock market its depend on the stocks supply of there local market demand.

[Chachacoin17]

I think the price of bitcoin is surely depends on demand that we, as traders and investors create, without it - bitcoin is worthless

I agree with you, bitcoin depends on the users and investors demand. Since fiat is the currency of the country, it also depends on how much the price change or how much its value. I also think the same, bitcoin is not really a slave of fiat, bitcoin just need fiat, because bitcoin is converted to fiat so we can buy with it. I agree that without fiat, bitcoin is worthless, because we buy things with our own country's currency, I think that's why.

Fiat is the widely recognized medium of exchange, has legal tender, and is controlled by the government. In the evolution of Bitcoin, many are still unaware of its functionalities, and more fear its volatility. I think the reason why bitcoin is still a slave of fiat because it's dependent on it, it's economy is still young, it's not yet generally accepted and it mostly depends on the demand of consumers.