Panetymerni
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August 27, 2018, 03:01:43 PM |
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Please do some moro thorough research on the whole topic of Bitcoin before posting such nonsense teories. How Bitcoin can be a slave of fiat? It's price is a subject to supply and demand, not dollar.
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Bitcoinbitcoin0909
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August 27, 2018, 03:54:49 PM |
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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
I don't think bitcoin is a slave of fiat neither fiat is a slave of bitcoin. Both benefit from each other as bitcoin gets more popular and as an equalizer, the fact that its not yet legal gives the advantage to fiat since everyone is using it right now. We should atleast appreciat the fact that as we earn more bitcoin, fiat's are the one we use to benefit the most from the profit we've gain. |
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Phophobobooo
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September 08, 2018, 04:23:52 AM |
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These things are only possible with the use of fiat and I believe it would take a very long time the grocery and small merchants starts using bitcoin as a mode of payment.
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Klongkhunosi
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September 08, 2018, 04:31:34 AM |
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He can't secure his bitcoin byitself, look how many lose their bitcoin every day due to thieves, or because of their low competency with bitcoin security, for sure another way for them to store safely their coins, would be to entrust them to their banks.
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Spaffin
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September 08, 2018, 04:32:47 AM |
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The expression that bitcoin is a slave of fiat is wrong. Bitcoin is not tied to conventional currency. If the usual currency grows or falls in price, it does not directly affect the bitcoin. Just the value of bitcoin, we need to measure something. We will not define its value in the commodity, for example, in sheep. You can measure in value to gold. However, in any case, in order to understand its value, we need bitcoin with something to compare in price.
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andriarto
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September 08, 2018, 05:19:14 AM |
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The expression that bitcoin is a slave of fiat is wrong. Bitcoin is not tied to conventional currency. If the usual currency grows or falls in price, it does not directly affect the bitcoin. Just the value of bitcoin, we need to measure something. We will not define its value in the commodity, for example, in sheep. You can measure in value to gold. However, in any case, in order to understand its value, we need bitcoin with something to compare in price.
besides, bitcoin is a newcomer, and requires understanding to be understood. and i don't think it's a slave, but it's normal if the electability is under fiat currency, because there are still few people who use it |
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Linhkej
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September 08, 2018, 05:40:21 AM |
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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
It is hard for people to leave the currency. Over time, it proved to be a very effective system. It is linked and expanded into a solid and easy-to-reach system. Bitcoin is still young and it takes time to secure its full potential. |
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tonyvo2017
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Merit: 10
Lifestyle & Wellness Platform
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September 08, 2018, 06:08:47 AM |
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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
It is not possible immediately for Bitcoin to replace the currency - a system of economic flows that goes through a long period of time. It has grown and increasingly linked, increasingly sustainable. People are more likely to approach it than Bitcoin because it's physical and not technology-dependent. However, Bitcoin can exist in parallel and support the currency. |
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Eigig
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September 08, 2018, 06:36:09 AM |
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Bitcoin is still fiat slave the term to be , because fiat are the known currency worldwide , while bircoin is still struggling to be recognized by the different people world wide, to be legit and accepted in the different market, so it remains the slave of fiat money.
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dongyi17
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FRX: Ferocious Alpha
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September 08, 2018, 06:47:18 AM |
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It's not that bitcoin is a slave of fiat or under its control and seem he still over over bitcoin, it just that maybe people are used yet to bitcoin as simple as that, they're not yet familiar to ist system and some do not yet accept it even in most country...so let's just wait an in due time they will accept it also and bitcoin will get a chance to showcase what they have.
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BryanRoseWalker
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September 08, 2018, 07:03:18 AM |
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bitcoin still prioritizes fiat price references as a price conversion center, otherwise bitcoin prices and all cryptocurrency will be very wild and even able to create a negative stigma about uncontrolled monopoly, but that does not mean that bitcoin acts as a slave.
they only adapt to the world financial system and try to make the world adapt to a unique crypto system with sustainable mass implementation.
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Crypto Girl
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September 08, 2018, 07:14:16 AM |
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1. Why is Bitcoin tied to Fiat?
2. 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.
3. 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
1. How can you actually determine how much is 1 bitcoin? Can you tell that bitcoin is worth of 100 grams of gold? Of course, it isn't what you think. Bitcoin is tied because dollar is the determinant of how much is 1 bitcoin so people will know and see how it's worthy. 2. Yes the limit is always be on a consideration but the demand and supply are still we look up. These two can't have the separate ways. 3. Think logically.
How you come up with 0.0010 agreed value? |
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virarara
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September 08, 2018, 07:28:55 AM |
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I don't understand things like this. If this is true bitcoin is a slave from flat, I hope that when bitcoin has grown bitcoin will not be a flat slave.
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ngano ba
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September 08, 2018, 09:24:32 AM |
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Fiat money as of now is still the official currency
used by all people around the world and we could say that cryptocurrency in which part of the world are only accepting would still term as slave of fiat money as of now.
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Crypto24hrs
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September 08, 2018, 11:26:03 PM |
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Both BTC and Fiat complement each other and not a slave, fiat currency will never rule forever as awareness of BTC contentious one day BTC will cease to exist like trade by bater which was the first form of exchange during the stone age
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Babyrica0226
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September 08, 2018, 11:34:46 PM |
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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
For me there's a big difference between Bitcoin and Fiat, for now bitcoin was only being used for online transactions while Fiat currency was being used in several ways, like payment to all Food business, car vehicles, Houses, Furniture and transportation and even doing saving money in any banks. |
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@Mhaiang
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W12 – Blockchain protocol
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September 09, 2018, 02:35:35 AM |
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As to market value, fiat has a stable value but bitcoin can turn your capital folded many times when bitcoin is rising fast. In the other hands, fiat currencies can be use anytime, anywhere without the need of using a computer or any iT gadgets.
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Quehuongchenoi
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September 15, 2018, 08:06:53 AM |
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I think until people who hold Bitcoin start to spend it as normal currency and more establishments start to accept it, it'll always be tied to fiat one way or the other. Personally, I'm just looking forward to a point where conversion between bitcoin and fiat is fast and easy.
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doomloop
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September 19, 2018, 09:43:24 AM |
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Because we still use cash and will use it, until the attitude to the crypto currency has changed.
We use cash but not more than fiat, for me bitcoin is still at higher than fiat, in old ages people were using fiat to buy goods and to get things they need but now it is modern age where people are only using digital money, it is easier to use and to buy goods, be wise while choosing your investment I think bitcoin is the best one, fiat is not an old currency, bitcoin is ruling over the market. |
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mornabo
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September 19, 2018, 10:22:07 AM |
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Because we still use cash and will use it, until the attitude to the crypto currency has changed.
We use cash but not more than fiat, for me bitcoin is still at higher than fiat, in old ages people were using fiat to buy goods and to get things they need but now it is modern age where people are only using digital money, it is easier to use and to buy goods, be wise while choosing your investment I think bitcoin is the best one, fiat is not an old currency, bitcoin is ruling over the market. Lol do you think fiat is only in cash? The government currency also has another version of cash, do you think the government only runs on the premises and does not update the payment method in their country? credit cards, debit cards, internet banking, etc. are other versions of fiat included in the digital currency and that makes fiat always used because it matches the times |
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