Will Bitcoin always be dependent on fiat? Is it?

[Watjila]

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.

[1714641911]

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[ronaldinho_07]

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.

[polynesia]

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.

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.

[Newmba]

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

[Sourgummies]

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.

[sishendaoye]

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

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.

[MyBTT]

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.

[iamthesky]

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.

[praprata]

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.

[ronaldinho_07]

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.

[JAyThaRevo]

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.

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.

[aardvark15]

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.

[ajun96]

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

[1Referee]

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.

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.

[ampere]

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.

[aardvark15]

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.

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.

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.

[diegz]

I think bitcoin can replace fiat in future, but still a long way to go as of now I don't see it happening as many people are dependent on fiat and they find it easy to use.

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..

[trenchflaint]

I think bitcoin can replace fiat in future, but still a long way to go as of now I don't see it happening as many people are dependent on fiat and they find it easy to use.

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.

[diegz]

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,

[1Referee]

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.

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.

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.

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.