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Author Topic: Is Fiat Currency completely irrelevant to cryptocurrency  (Read 554 times)
GreenInformation547
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August 12, 2018, 05:04:44 PM
 #61

Though there are a big difference between this two one is visible and another in invisible but they are closely relevant because we need them both and also this two need each other.
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*kimcil*
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August 12, 2018, 05:24:00 PM
 #62

I'm not a financial expert and don't pretend like that, but I think Bitcoin isn't ready to be the only local currency.
Of course if some developed countries with this I would be very surprised, but I know that someone made a jump.
senin
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August 12, 2018, 06:28:00 PM
 #63

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?

Even if some people think that in the future we will be able to do without the usual paper national money, this does not mean that it will be so. Crypto currency will never exist without national money, it can only walk in parallel with them and never replace them.
Baoo
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August 12, 2018, 06:48:03 PM
 #64

Actually, there is a big difference between Fiat ( Euro, Dollars, Yen.. ) and cryptocurrencies , and I think the are of Fiat will disappear in the future ( maybe few years ) especially if the big governments cannot destroy Bitcoin, and I do not think that they can, because the digital currencies are very secure, despite many attempts , but fortunately Bitcoin is still existing in the market.
As a matter of fact, I think we do need FIAT in the future, and in this era the digital currency is something who has a big advantages ( especially no taxes, and  no exploitation like the banks )  .
Blanca_Gregory
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August 12, 2018, 07:33:11 PM
 #65

Both are useful in their own ways. I think this topic is getting exhausting. It is as though someone is mandated to talk about Fiat and digital currency daily. In the real world, I don't think this argument exists. Neither is in the way of the other. I also don't see Fiat currency going away. Not even in the future. We can always keep using both.
stellaekun
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August 12, 2018, 07:35:33 PM
 #66

we need fiats, it makes for better valuation of crypto-currencies and better adoption.
faithofb
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August 12, 2018, 07:58:03 PM
 #67

In actual senses and as far as crypto currency is concerned, fiat can not be over emphasized. Reason being that to secure bitcoin or any other crypto currency, we need fiat for valuation especially inter country transaction.
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August 12, 2018, 08:07:31 PM
 #68

Fiat currency is not completely irrelevant in crypto currency because it is what we will still used to know the worth of our holding.
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August 12, 2018, 08:16:53 PM
 #69

Fiat currency is not completely irrelevant in crypto currency because it is what we will still used to know the worth of our holding.

I agree with you, although fiat and crypto currencies are two separate currency states crypto relies on fiat at the moment because this is what we trade in for and we also use fiat especially for first time buying in of coins. This will be the case until a crypto world dominance becomes popular.

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ExtremeFacials.com
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August 12, 2018, 08:37:34 PM
 #70

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?

It is a reasonable question because I think not all of the guys would have an opinion on that and we'll be having an ability to answer that as well, fiat currencies are still important and needed in order to exchange cryptos.
Minerall
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August 23, 2018, 06:28:05 PM
 #71

You can't say that Fiat currency is irrelevant.with respect to cryptocurrency. Cryptocurrency has a lot of advantages but you can't discard Fiat currency. I hope to see cryptocurrency like Bitcoin become a mainstream currency but there are a lot of hurdles that need to be crossed.
Minerall
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August 23, 2018, 06:54:03 PM
 #72

In blockchains numbers of people are connected in a chain. Every new user is connected with old member. Every 1st user have some profit from 2nd member's work which is attached to him. So blockchain is a power, It is profitable. You can divide your work as per requirments.
pedagang2
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August 23, 2018, 06:56:48 PM
 #73

I agree with your opinion that fiat is very influential on the price of the crypto. and there may be some seniors who can help answer your question above.
and I want to know it. Cool Huh

CryptoCClendon
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August 23, 2018, 09:42:12 PM
 #74

Fiat is still needed for now
IamKnowledge
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August 23, 2018, 10:00:21 PM
 #75

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 actually the backbone of the crypto world. The value of any cryptocurrency can be obtained by comparing it with fiat money. You cannot rule out the importance of fiat currencies in the crypto market. In fact, it is practically impossible for bitcoin to exit without fiat
Finestream
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August 23, 2018, 10:03:42 PM
 #76

You can't say that Fiat currency is irrelevant.with respect to cryptocurrency. Cryptocurrency has a lot of advantages but you can't discard Fiat currency. I hope to see cryptocurrency like Bitcoin become a mainstream currency but there are a lot of hurdles that need to be crossed.
For now,fiat currency is still very relevant to cryptocurrency.Majority of the people nowadays are still into using fiat currencies to buy their own wants and needs.I think it will not really lost its essence even in the years to come because if cryptocurrency will be hopefully legalized in most countries,fiat currency would still be another option as a payment system.

triciaa478
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August 23, 2018, 10:29:05 PM
 #77

Fiat is still needed to make every crytpocurrency completes.All purchases and transactions can't happen in the crypto market without taken into account the equivalent in fiat.
liseff3
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August 23, 2018, 10:53:42 PM
 #78

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?


During this time fiat currency has become a benchmark for every increase that occurs in crypto currencies. Fiat currencies are still needed especially for transactions in buying and selling cryptocurrency, especially for those in countries where the government prohibits the use of cryptocurrency.
Cryptocurrency gets value after a deal from both parties, namely between the seller and the buyer.
Jessica2009
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August 23, 2018, 11:57:35 PM
 #79

          Fiat currency is centralized one that is controlled by the government and it is a legal currency . Cryptocurrency is a decentralized currency and is not controlled by a third party influence or any government and it is not accepted as a legal currency . In fiat currency the government decides how much currencies to be circulated and in cryptocurrency  everyone has the same right and this is done in internet . Today there is no currencies backing with gold only ink printed papers Cryptocurrency is a global free system using blockchain technology .

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coinnumber
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August 28, 2018, 08:55:13 AM
 #80

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 currencies cannot be completely irrelevant to cryptocurrency because crypto is decentralized and it can only be useful with the help of fiat currencies when it comes to offline. Fiat currencies are needed especially for transactions to covert cryptocurrencies to any fiat currencies. So without fiat crypto will be used only online and become useless offline.
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