Bitcoin is independent? or depends on fiat currency

[okaraun]

That is how we measure the value. Just that simple. Dollar is chosen as one of the most stable currencies.
If you want, you can measure it gold  

[eashikde]

In the beginning the ways of becoming bitcoin. when he very quickly rose in price, many considered that this is an independent currency. But some time passes and many experts say that it depends on the dollar exchange rate. I noticed a couple of times. as the dollar rises, the market drops. Therefore, everyone sees how they can, what influences and what does not.

[OzhogCoin]

I think that bitcoin does not depend on the fiat currency . You mean dollars? Does bitcoin depend on the dollar exchange rate? Obviously not

[trauchot]

Bitcoin from the very beginning was depended from fiat and I think at the moment nothing has changed, because it's hard to imagine what motivates bitcoin growth and decline except for the influence of a huge amount of fiat from big players. I think even the course of different fiats influences the bitcoin price.

[kucritt]

i think bitcoin is independent, the price of bitcoin is not affected by the fiat currency, but for cryptocurrencies its depend on bitcoin i think, because every bitcoin price drop, the price of cryptocurrencies is always drop too, i dont know why but it is a reality of cryptocurrencies

[Karie_Legend]

Bitcoin is a virtual currency that is the guideline of many other types of coins because if the price of Bitcoin decreases then all other types of coins will feel the same.

[bitterdog]

Bitcoin was created to provide independence from Government control to the users.  But I think it is not so independent. 

It depends on fiat currency especially the Dollar for it's valuation.   

My question is ; we are measuring it's value in dollars.  So is not it true that Bitcoin is dependent on fiat currency for it's existence?

Please share whatever views you are having. 

Kindly correct me if I am wrong.

i think bitcoin is not depending on the fiat currency, but we only valued it with dollars. In fact bitcoin is virtual currencies that independently standing alone and only move regarding to the market's demand and offer.

[Argoo]

Bitcoin is completely independent of fiat. The usual currency, such as the dollar, euro and others simply perform in this case the function. measures of value. In order to understand how valuable bitcoin is, we compare it with the value of conventional currency. This does not mean that the batkoin depends on it. That is, if the dollar or the euro falls in price, then bitcoin does not go from it, in its value.

[Diablesfunis]

bitcoin will be independent from fiat but right now its value is measured by fiat as the adoption is low, but I believe some years later when bitcoin is far more popular and become the main currency then it will be completely independent, but that's still far in the future though. We only use fiat to measure its value, but bitcoin itself grows on supply and demand of the market.

[galambo]

Well, i think bitcoins are not dependent on any of the fiat currencies and are totally independent. Being independent makes them bear good price according to the demand. None of the government compares thier national fiat currency with any of the cryptocurrencies including bitcoins so i think that it is not really related.

Yes, bitcoins were truely been made to make the transactions without involving the government which can also be called as anonymous transactions. But mostly bitcoins were than been used for some major illegal uses and also some of the terrorists have been used bitcoins to get arms and amunations from the dark net.

Thats why governments have not yet made bitcoins legal and they are been facing the issue for legalisation. Also the governments themselves will never allow bitcoins to be compared with their national currencies and also they won't actually accept bitcoins that fastly.

[maxy1999]

No it doesn't depend on the fiat currency as it is different topic
It does not since with each other.. Only one thing is that you can convert Bitcoin into Fiat

[AquaVitae]

Nothing is really independent in this world. Currencies, stock markets, interest rates, they all have effect on each other. When investors want to take risk, then unregulated and risky assets like Btc will appreciate. And vice versa.

[maskeffec]

Bitcoin was created to provide independence from Government control to the users.  But I think it is not so independent. 

It depends on fiat currency especially the Dollar for it's valuation.   

My question is ; we are measuring it's value in dollars.  So is not it true that Bitcoin is dependent on fiat currency for it's existence?

Please share whatever views you are having. 

Kindly correct me if I am wrong.

Blockchain technology itself is independent because it is decentralized so for me Bitcoin is independent only requires adoption. People invest large amounts of fiat money into Bitcoin just to have what we call financial freedom that fiat never gives us.

[candra raditya]

I think bitcoin still depends on fiat, when bitcoin increases a lot of people are excited because they get profit and when it comes down many of them are frustrated because they think they have fallen in losses, and from that fiat can be a measure of bitcoin.

[oceantiger]

You are  partly correct and partly wrong. Bitcoin is decentralized and out of government control but bitcoin is not measured by fiat currency like dollar or euro but if you do not want to hold your coin you can through the exchanges convert your coins to fiat money for exigencies. Bitcoin never depends on fiat for any reason. If you wants to own some bitcoins you have to use  fiat to exchange for it.

[reverseflash]

Bitcoin was created to provide independence from Government control to the users.  But I think it is not so independent.  ..............

Kindly correct me if I am wrong.

Exactly. If bitcoins are decentralized and a currency itself then how can it depend on any other type of currency and why should it?

Bitcoin does not explicitly depend on the dollar, but at the moment the dollar is the standardized measure of value in the world as the most popular and well-known currency. Their dependence can be manifested with the general market fluctuations, but usually they affect the entire financial market.

[adzino]

Bitcoin is actually independent. Just measuring its value using the USD or any other equivalent fiat currency does not mean that bitcoin started to dependent on fiat. We are just using the fiat as a reference frame in order to evaluate its value, just so that we can make things more simple.   This is just the same as evaluating the value of Euro with the help of USD.

[yugyug]

Bitcoin is independent regardless of any economic standing of every nation being decentralized makes it more sustainable than a country's fiat it's value does not depend on dollar or pound or other currencies. Its values depends on supply and demand.

[Nhor1011]

Bitcoin was created to provide independence from Government control to the users.  But I think it is not so independent. 

It depends on fiat currency especially the Dollar for it's valuation.   

My question is ; we are measuring it's value in dollars.  So is not it true that Bitcoin is dependent on fiat currency for it's existence?

Please share whatever views you are having. 

Kindly correct me if I am wrong.

   Bitcoin from the beginning until now is a Decentralized digital currency. The value of bitcoin is not depends on fiat currency because it always depends on the market,the supply and demand.

[Sirait]

see now, when America makes a new policy, almost all currencies in the world feel the consequences and also has an impact on Bitcoin, the impact is not directly but it has more impact on investors, when the new policy arises, investors will be afraid of buying and selling, they are waiting for market predictions, and if there is no transaction, it will greatly affect the price of Bitcoin, CMIIW