Is Fiat Currency completely irrelevant to cryptocurrency

[ahmedbrown]

There are some believes that we might not necessary need fiat currency in trading cryptocurrencies.
My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?

[1714108460]

1714108460

[1714108460]

1714108460

[KingScorpio]

There are some believes that we might not necessary need fiat currency in trading cryptocurrencies.
My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?

actually, no, fiat currency is already a tendentious word cryptocurrencies also behave like fiat currency, ever heard of bitcoin gold bitcoin diamond etc.

main issue with cryptocurrencies is that they are not controlled by a trusted body, they are purely marketed and issued for greed.

[odolvlobo]

There are some believes that we might not necessary need fiat currency in trading cryptocurrencies.
My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?

From its utility, just like everything else. Where does gold derive its value from?

[KingScorpio]

There are some believes that we might not necessary need fiat currency in trading cryptocurrencies.
My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?

From its utility, just like everything else. Where does gold derive its value from?

it is a unquie useable material, commonly used as money, along with other metals besides having a use in crafting it is culturally and historic a popular money and jewelry materials.

encripted information are not.

[Sandus_Cryptolover]

Fiat will always be relevant in the world and even in the Cryptoworld. At least I will always need fiat for day-to-day runnings after pulling out profits from trade made. So fiat is and will always be needed.

There are some believes that we might not necessary need fiat currency in trading cryptocurrencies.
My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?

[mriansa]

bitcoin and banknotes are irrelevant and both have no significant relationship, bitcoin is the digital currency whereas paper money is not digital money is not only that the total supply of bitcoin is also very limited different from fiat currency.

[yoseph]

There are some believes that we might not necessary need fiat currency in trading cryptocurrencies.
My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?

From its utility, just like everything else. Where does gold derive its value from?

Gold gets it value from the people that is the investors the same as Bitcoins.

[mikki14]

Fiat is very relevant to cryptocurrency. Coz first of all, it is the measurement of the value of each coin.
I think nobody here invested in cryptocurrecny to increase their coin but to grow their money (fiat). All of the coin you possess were useless if you couldn't use it.
You can pay online using BTC directly but it is still depends on its equivalent value in your local currency or in US dollars.

[odolvlobo]

There are some believes that we might not necessary need fiat currency in trading cryptocurrencies.
My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?

From its utility, just like everything else. Where does gold derive its value from?

it is a unquie useable material, commonly used as money, along with other metals besides having a use in crafting it is culturally and historic a popular money and jewelry materials.

encripted information are not.

I used Bitcoin to buy plane tickets and a hotel room last week. Bitcoin, like gold, has utility, and it has value as a result.

BTW, Bitcoin is not encrypted.

[Getcoinsite]

There are some believes that we might not necessary need fiat currency in trading cryptocurrencies.
My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?

Who are that believers?you?

Who told you that fiats is not necessarily needed to trade cryptocurrency?

Now tell me what materials you will use to have the coins that would be use for trading?next time before posting use our heads with brains because you're becoming a noob with this one

[kimochidesh]

No, fiat is not irrelevant to the world. A major proportion of the world are using fiat only for their purchases. Fiat is the easiest medium for exchanging goods and services. For people who don’t have access to smart phones or internet cannot use cryptos. They can’t even understand this technology. How can you think that fiat is irrelevant in the world?

[zinluzgina]

There are some believes that we might not necessary need fiat currency in trading cryptocurrencies.
My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?

I wouldn't think so!! The Fiat currency will be in the world for a couple of years. Need to be alternated to enter into crypto, withdraw in Fiat and then buy bitcoins etc. Fiat need for to lock in profits.

[mu_enrico]

There are some believes that we might not necessary need fiat currency in trading cryptocurrencies.
My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?

First, let me ask you a question. Where do you think fiat value came from?

Fiat might be still relevant decades from now. Maybe it will be irrelevant, but who knows. Let's assume cryptocurrency will be the main currency used by people for everyday purchase, hence completely replacing fiat. The value will come from its use.

[virendarnagpal]

Most of the people are still using fiat currency till date.  So fiat is not irrellevant.  In third world countries many of the people do not know about crypto.  It will take time for them to know about crypto and then start using it. 
Without fiat how can we purchase crypto so without fiat we will not be able to buy crypto.

[beivleveinsomeone]

cryptocurrency is born from crisis and takes value from belief. When people lose faith in Fiat they will turn to crypto

[stayeduptolate]

There are some believes that we might not necessary need fiat currency in trading cryptocurrencies.
My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?

Obviously all the crypto has been derived from all the Fiat currency, because all these currencies have one thing in common that they all have derived from the common origin , though no doubt all the crypto currencies are much superior than all the Fiat currencies around and moreover there are many reasons that definitely prove that bitcoin and all other crypto are much better than all Fiat currency around and no doubt all the Fiat currency has much relevance in crypto development.

[SecureCryptoPayments]

Where did you get that fiat is supported by gold. This has long been wrong.
So we have Integrated enterprise eCommerce solution for processing cryptocurrency into fiat money with cashback for buyers.

[Wendigo]

Oh please guys can we stop getting the exact same threads every single day... It has been said a million times already that supply and demand controls the price of Bitcoin and that Bitcoin is pegged to fiat. How else are you going to determine the value of your coins and exchange them according to the price they go for? Fiat is going nowhere. Or do you want to go back to the old ways of bartering goods?
I am not a financial expert and don't pretend to be such, but I think Bitcoin is not primed for being the only local currency yet.
Of course if some country goes forward with this I will be extremely surprised, but as far as I know no one has made the jump yet.

[suemendez25]

How can you say fiat is irrelevant to cryptocurrency. First of all we need fiat to buy crypto. Also we need fiat to measure the value of bitcoin.

[severaldetails]

Most stores do not accept crypto currencies. At some point you need to convert crypto into fiat in order to buy the stuff you need from such a place.
And mostly fiat is the currency you need when you buy crypto in the first place.