Will Bitcoin always be dependent on fiat? Is it?

[Monnt]

As soon as more people adopt BTC as their native currency fiat will be dependent on Bitcoin. You'll soon be calculating fiat in terms of BTC in my opinion

[Blue_Tiger73]

There is always going to be Bitcoin and fiat in the world. There was topics on this forum before about Bitcoin ATM's and how they build a bridge from fiat to Bitcoin, which is definitely true. Not everything you can buy with Bitcoin and vise versa with fiat.

[Amph]

Will Bitcoin always be dependent on fiat? Is it?

No and no.

Right now you can trade bitcoins for products and services without any conversion to or from fiat.

yeah but they now how much you cna buy with one bitcoin, because of the value of one bitcoin in fiat

if there were no connection between fiat and bitcoin, how do you know how much one bitcoin could buy?

[Tadblt]

The intrinsic value of bitcoin is nothing to do with other fiats. That is similar to US dollar. The bitcoin has a price, which depends on the value of other currencies.

[LuckyYOU]

For now bitcoin is depending on fiat, value wise. I think that if more merchants adapt to bitcoin, fiat won't be needed anymore.
But until then we still need to convert and exchange to fiat if we want to buy something in stores.

[ultimatesky]

Yes because we need something to compare to what the value of bitcoin is. What if bitcoin wasn't depending on fiat, how would you know that 1 bitcoin was worth $450~?
I do think that this can change in the future once more people get into bitcoin. But for now we need it and it's depending on it.

[darkangel11]

I think that if fiat was somehow to fail as a means of payment bitcoin would skyrocket. So the dependance exist but that's because these two payment options are fighting for supremacy.

[funkenstein]

Yes because we need something to compare to what the value of funbuck is. What if funbuck wasn't depending on bitcoin, how would you know that 1 funbuck was worth ~2.3 mBTC?

ftfy

[neochiny]

will bitcoin always be dependent on fiat?is it?

of course not... as you can see already.
a lot of stores in  my country or in any other country is already,
accepting bitcoin without converting it to fiat.
and also in some merchandise they are also accepting bitcoin already as is.
and in some countries i saw some in the news that they are accepting bitcoin for payment
in transportation. For now maybe now almost all country. but in the future it will be seen.

[thejaytiesto]

Do you really think states are going to let an alternative economy develop, and an economy they can't control? im not sure about this, so Im pretty sure we will see further regulations in the future, because they will do everything possible to stop Bitcoin disrupting the status quo of fiat supremacy as the ruling currency.

[zodiac3011]

I think the answer is yes! Bitcoin is just a currency just like USD or Yuan. We exchange bitcoin to USD because there's not enough adoption for bitcoin! If it has more, bitcoin will be bitcoin without depending on fiat

[RealBitcoin]

NO, it's fiat that will be dependent on bitcoin. So when this fiat system collapses, the new paper currencies will be denominated and backed in bitcoin.

[ThunderThomas]

I think so yes because for as long as we are using fiat or at least need to use fiat on a daily basis, bitcoin will depend on it. Bitcoin can become independent if one day it will be accepted everywhere around the world.

[helloeverybody]

Once more user adoption happens it wont need to be tied to flat atall, in fact you wont even need flat. Everything you would want to buy online u would do so with btc. Obviously prices you would have to compare to flat but thats the same with any currency i suppose.

[Denker]

Depends.But as long as fiat exists and is used by the majority of the people we will see Bitcoin being connected to it.
In a few decades this may change a bit and the new fiat currencies, again created by the governments after the big crash, might be pegged to Bitcoin.
Yeah I know for many of you kind of unlikely to happen, but damn it allow me my dreams please!

[Rizky Aditya]

I think the fact is, there is always going to be both currencies in the world. I don't think we will be able to fully adopt Bitcoin.

[Mometaskers]

At present, the price of goods are rated in local currencies. So when you buy things with bitcoin, you need to convert to bitcoin. In the future, it is not necessary.

[orryde]

The thing about Bitcoin is that people can value it at whatever price they want to value it at. The market is entirely driven by supply and demand. In a market like that you definitely have to tie it with something that retains its value better and is not AS volatile. We need to get everyone to agree on one price. This will certainly never happen because of hoarding and market minipulation causeed by the Chinese dumps.

[Pab]

Btc  is  same way dependent on fiat,like fiat  is dependent on fiat.I cant buy  bread with dollar in Europe i have to exchange,with btc is the same

[Decoded]

It has the potential to become fiat, but I have a feeling it will never be that way. I don't think the world is ready for an online currency just yet, maybe bitcoin will die out before the world is ready.