hotBriX001
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The revolutionary trading ecosystem
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September 21, 2018, 10:55:29 PM |
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Bitcoin is still a slave of Fiat mainly because it's price is very volatile and it's transaction is very expensive when we are going to trade with it. And also bitcoin is still not fully recognize by each countries and acceptance of it is scarce compared to national fiat which is fully honored.
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The grue lurks in the darkest places of the earth. Its favorite diet is adventurers, but its insatiable appetite is tempered by its fear of light. No grue has ever been seen by the light of day, and few have survived its fearsome jaws to tell the tale.
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Bitfling
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September 22, 2018, 01:05:26 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?
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Agreed Value * Bitcoins Mined = New Value
0.0010 * 1 = 0.0010
0.0010 * 2 = 0.0020
Bitcoin traded with fiat because people still use fiat to spending their money. Not many merchant in the world accept bitcoin as payment, but if merchant start accepting bitcoin, i am believe people will use bitcoin for their transaction |
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reality18
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Earn more with Earn Network
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September 22, 2018, 01:59:26 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
Bitcoin is not a slave to Fiat. Both coexist to bring uniqueness to payment systems in businesses and companies. The value of Bitcoin is determined by several factors which include the attitude of the governments towards it in a particular country, the influence of the media and banks, attitude of actors on the market towards Bitcoin. |
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PeachPam
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September 22, 2018, 02:07:09 AM |
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In my opinion, it is because bitcoin is still not accepted worldwide while fiat is official currency
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adpinbr
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September 22, 2018, 05:10:34 AM |
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obviously because bitcoin is still not accepted internationally and some countries even have the guts to banned bitcoin. It will be hard for bitcoin to be accepted worldwide but it will just have patience.
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Usafstar
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September 22, 2018, 06:12:24 AM |
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Not at all bitcoin is not a slave of fiat bitcoin is using for those transactions where the fiat is very expensive and a transportation risk is also there so those business owners use bitcoin which is the best option now for transaction. Bitcoin is independent and it is not slave of the other currency and it is better to use both of currencies.
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Spaffin
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September 22, 2018, 06:29:16 AM |
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Bitcoin does not depend on fiat, it's an expression that he is a slave of the fiat is not true. If bitcoin will be specified only in Bitcoin or Satoshi, its cost will be incomprehensible to people. Therefore, for ease of use and for converting to other types of currency and ordinary currencies, it is linked to the dollar and other major currencies. This does not mean that he has dependence on them.
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MMysterious
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Bear season or just the beginning
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September 22, 2018, 06:38:47 AM |
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Bitcoin is not a slave of Fiat is just that Fiat money is the old monetary system and the currency that we accepted and believe in the past centuries so the demand on the fiat money now is greater than bitcoin now. But just like Nokia (pioneer of mobile technology) it will reign for a couple of years then when apple came into the picture soon people will realize the capability and the potential that apple will bring to the people. And nokia will be gone to the picture of mobile technology. Bitcoin still on the early phase many people studying it because of its potential and few people invest and believe on it already because they know this will change the financial system that we have. But we dont know if fiat money will soon gone or it will co exist with bitcoin. I just know that Bitcoin is here to stay.
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spongegar
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September 24, 2018, 03:30:33 AM |
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I don't think that crypto currency was ever a slave to fiat at all. The market maybe down but crypto currency was down way before the market became unhealthy. Maybe we can chuck it up to coincidence or the fact that some bigwigs wants to sling mud and pollute crypto currency by buying and dumping them.
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nithanjaka
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September 24, 2018, 12:41:20 PM |
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I think the inquiry here still returns to asking ourselves on what we can do. For whatever length of time that things are still evaluated in fiat, that is the place the issue comes. I perform a considerable amount of web based showcasing thing and the primary thing I'll ask the vender is whether they will acknowledge bitcoin. The majority of them will consent to that, and that is the manner by which you present bitcoin.
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Bitcoinbitcoin0909
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September 24, 2018, 02:18:11 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
Bitcoin is still slave of fiat simply because bitcoin is not legal yet and fiat is being used all over the world. By simply having that, we can already see that bitcoin is still nothing compared to fiat yet but when the time comes that bitcoin became legal, it will surely take over and might even replace fiat in the future. |
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virendarnagpal
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September 24, 2018, 02:45:35 PM |
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Fiat is measure of value till date. Specially dollar is internationally acceptable measure of value. every commodity is being measured in it.
Now because we ourselves are using bitcoin as an investment not as currency so dollar is being used to measure it's value. But it does not mean that bitcoin is slave of fiat.
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SanSanTar
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September 24, 2018, 03:23:31 PM |
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because bitcoin still need legalization to be accepted as a currency. Until that, it is still a slave of fiat and can not replace fiat
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drm
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September 24, 2018, 06:50:54 PM |
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because bitcoin still need legalization to be accepted as a currency. Until that, it is still a slave of fiat and can not replace fiat
Even if btc was an officially accepted currency, fiat is what is being used by everyone as of now. Bitcoin wouldn't all of the sudden break free from that. |
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romantic007
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September 24, 2018, 09:46:32 PM |
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Because eventually the price are decided not by simple maths, but by many factors, including people demands. those factors are not so simple and predictable, and it's impossible to eliminate them.
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concitta
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September 25, 2018, 12:26:19 AM |
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Because eventually the price are decided not by simple maths, but by many factors, including people demands. those factors are not so simple and predictable, and it's impossible to eliminate them.
the world price conversion center still relies on USD and the world government still considers bitcoin as an economic study that cannot yet be ratified, if bitcoin moves without connecting to fiat, it loses its value quickly, the term "slave" is not very appropriate to apply, rather call it technological innovation that is still developing. |
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Doyenuklirblok6
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September 25, 2018, 01:35:56 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
because bitcoin is still a lot of internal problems that have not been overcome, and fiat is a popular currency. if the problem of bitcoin has been overcome and become perfect it does not rule out the possibility that in the future bitcoin will become the main currency in the future. |
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gareng1468
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September 25, 2018, 02:50:52 AM |
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bitcoin will not be able to compete with fiat as long as economic regulation around the world has not fully recognized its existence. Crypto user communities really hope crypto currencies can become rulers. but the number of cripto users is still inferior to more numerous fiat users. so crypto currencies are difficult to compete in a long rally.
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squog
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ANONYMOUS MOBILE PAYMENTS
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September 25, 2018, 05:17:56 AM |
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No matter what happens to Fiat, crypto currency will not be affected by it and vice versa. Crypto currency can't be a slave to fiat because it has no correlation to it. If ever, fiat will be a slave for crypto currency because crypto currency could affect fiat's flow in a certain market.
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hawkins
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September 25, 2018, 05:25:54 AM |
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No matter what happens to Fiat, crypto currency will not be affected by it and vice versa. Crypto currency can't be a slave to fiat because it has no correlation to it. If ever, fiat will be a slave for crypto currency because crypto currency could affect fiat's flow in a certain market.
well, in my opinion, nowadays people still need fiat more than bitcoin in the real world. bitcoin is most likely made by the media to seek big profits, and is utilized to get greater profits compared to one's salary. well, even now, that hasn't changed. |
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