Is Fiat Currency completely irrelevant to cryptocurrency

[kwusu]

Fiat is very important and relevant to cryptocurrency as far as investment, and transactions are concern. Fiat is the original currency we used before the inception and invention of cryptocurrency. I think some things fiat can do cryptocurrency may not be able to be used for that purpose and all of this help strengthen the crypto market.

[pushups44]

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?

All currencies derive their value from supply and demand -- some economists believe there is no intrinsic value to any currency. I believe fiat currencies and cryptocurrencies can coexist, and central banks will likely issue their own cryptocurrencies in the future. While gold is tangible and bitcoin is not, they both share many traits, such as scarcity and divisibility.

[millgates]

I think its relevant. Do you know stock market? Do those stock market trader buy stock using other stock(barter)? Or they buy stock using fiat? Yes they use fiat to buy stock. The advantage of cryptocurrency is it can be bought not only using fiat but also other cryptocurrency.

[BennyK]

Fiat still holds its position in our society as it is strongly backed by the governments. Even with cryptocurrency, the final stage of withdrawal is through Fiat after trading our numerous cryptocurrencies on the market. Fiat will become irrelevant if cryptocurrencies hit a global patronage where everyone understands its concept and accept it as the primary means of purchasing goods and services.

[rasmusen]

I think your reasoning is not very true. How can fiat not be the world's top currency? Firstly, to use crypto currency, you need an understanding of the process, and the internet. In the second, fiat is the simplest and fastest method of payment on the planet.

[Soots]

There's no irrelevant issues for both currencies, because they're now having compatibility with each aspects on trading. When investing cryptocurrency you'll be using your fiat to trade cryptocurrency and exchange it to earn your profit. It's completely a convenient way to handle your funds, with a definite purpose of an asset holding. The relevance really brought an assurance for every person to value their future finances between digital and fiat currency.

[supelle.born]

We are still hostages of fiat and I do not see this change, even in the long run, because governments will not surrender to crypto as means of payment.

[Shiro21]

Fiat money and cryptocurrency are unique. I think both are quite relevant and related because their functions are the same, but with many advantages that exist in cryptocurrency. The problem here is that there are still many people who have not used cryptocurrency and the public also believes in fiat money because crypto is considered quite complicated.

[jerrison]

for the now, it is highly relevant and important to the cryptocurrency as loads of people seek for a means through which they can directly wire their money to their local accounts without going through unnecessary processes and procedures. but after the world has accepted the crypto currency, it will be almost irrelevant to it

[Oppang Inamo]

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?

Fiat is connected to cryptos as it is only the physical money and cryptos are implied onto technologies. And, cryptos cannot be used in physical world as of now without the means of fiat exchanges

[Cryptopher]

Fiat is completely relevant to cryptocurrency - certainly for the foreseeable future (IMO).

99.9% of those involved with any form of cryptocurrency measure their holdings in fiat currency - everything comes back to the US Dollar. I don't have the foresight to imagine a world within centralised fiat currencies.

[nehemiah31]

It is relevant to cryptocurrency.The only difference is that crypto is digital money, you may send payment or money through coins.ph or gash, no hassle.Fiat is the one thats is tangible.

[shawn995]

No, fiat isn't superfluous to the world. A noteworthy extent of the world are utilizing fiat just for their buys. Fiat is the most effortless medium for trading merchandise and enterprises. For individuals who don't approach advanced mobile phones or web can't utilize cryptos. They can't comprehend this innovation. How might you imagine that fiat is unimportant on the planet.

[DanyJr]

Fiat Currency is very closely reliant to crypto currency and the prove is if you have fiat but no crypto and you want to enter in crypto world then how would you do you must need fiat.

[candy69]

It is true that cryptocurrency is getting popular day by day, but it is still a long way to go. In many parts of the world, a lot of people still haven't heard of it, so fiat currency wouldn't be irrelevant so soon.

[poldanmig]

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?

Crypto currency is a currency that has value for its investors, so at this time it cannot be equated with the relevant fiat currency if indeed all crypto currencies can be accepted by all countries as the applicable currency to carry out the transaction. The crypto currency can be said to be relevant.

[coinwizard_]

It's about demand and usage. When cryot can be used as a form of salary and paying for essential items like rent, bills, food, taxes, then fiat can become a secondary form of currency

[viyumztf]

There is a close relationship between Fiat and encrypted currency. We all know that Bitcoin is becoming more and more valuable, and the value of Fiat has been verified by the development of the whole society. I think Fiat can be a good reference for encrypted currency.

[axxo]

Fiat and crypto currencies are two different thing because fiat is a paper money and crypto currencies are digital currecy. Both are relevant because we use them both and fiat is the most acceptable worlwide while bitcoin is a great investment.

[Yelosita]

We are still hostages of fiat and I do not see this change, even in the long run, because governments will not surrender to crypto as means of payment.

It is impossible for fiat money to be eliminated because of cryptocurrency. During this life there is paper money will always be there as the most ideal means of payment, because there is real physical. For crypto money because digitally it is not ideal when used for small transactions. Cryptocurrency can be traded with a value calculated with banknotes. So, paper money is very relevant plus cryptocurrency and even complement each other.