tiggytomb
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November 07, 2018, 07:08:59 AM |
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That is the only way we can track It's value in our local currency, until bitcoin becomes the only currency this is the way it will always be or until fiat dies and then we will probably use gold.
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Pattart
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November 07, 2018, 07:33:18 AM |
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If you think bitcoin is an independent currency it's a good opinion but I think bitcoin depends on fiat currency dispate the measures done by governments to restrict it.
Limitation doesn't mean that Bitcoin is dependent on the government, even if that limitation is applied, it will not fully limit users, and not necessarily be followed by all users of Bitcoin, once again decentralization cannot be changed by the government, and I still think that bitcoin is an independent currency
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vernl
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November 07, 2018, 11:28:50 AM |
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Bitcoin is completely separation from fiat currency, it's not dependent on anything, it's just itself and the raise of price of decrease of price is depending all on the trust of investors on it. It means if investors don't invest their money in it , the price will be decreased.
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walemil
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November 07, 2018, 12:32:33 PM |
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It is not as if bitcoin is dependent on fiat currencies. The value has to be stated as such so that the fiat currency equivalent can be ascertained. That is why it is possible to purchase bitcoin with fiat currencies and on the other hand use bitcoin to purchase goods quoted in dollars or any other fiat currencies.
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messito
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November 07, 2018, 01:14:06 PM |
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Bitcoin is completely independent of fiat money and we can observe it now while starting the global financial crisis, but Bitcoin stands still and does not fall
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[ M O B U ] The Investment Bank of the Future The Security Token Protocol and Licensed Security Token Exchange https://mobu.io/
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AiBBio
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November 07, 2018, 01:17:36 PM |
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Bitcoin is independent and that is why it has a lot of anvantages if compare with others currencies
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saumang2m
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November 07, 2018, 01:22:49 PM |
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Bitcoin is a crypto currency. And crypto currency is an independent system. To date, the government of any country can not control the crypto currency. Because of which many countries are against crypto currency. This independence separates the crypto currency from all the currencies.
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barabarian1
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November 07, 2018, 01:28:30 PM |
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in my opinion bitcoin is independent and does not depend on fiat currencies. when you say that bitcoin depends on the dollar, maybe because the dollar is better known by the majority of countries. indeed the value of bitcoin is calculated with fiat currency, but I don't think it's just a dollar. every country must have its own fiat currency. and users in that country must see the value of bitcoin with their own currency. thus the value of bitcoin can be known by all countries in the world.
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jademaxsuy
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November 07, 2018, 01:30:19 PM |
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Bitcoin still depend on fiat currency may it be dollars, Yen, Euro, Peso, or any currency that could be exchange with bitcoins. Without the fiat currency bitcoin will not going to raise its market price for buying and holding bitcoin will relatively creates lesser supply of bitcoin especially if all will hold after buying bitcoin.
So far, bitcoin and other establish crypto now has slowly getting a good market price increase. Hope it will bring more as the year end for 2018.
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yowelfree
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November 07, 2018, 07:47:55 PM |
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Yes Bitcoin is independent. It does not depend on fiat money. it is decentralized.
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▂▃▅▆ BOLTON Coin (BFCL) ▆▅▃▂ ▬ The Challenge that makes your dreams come true ▬ ֍ ֍ [https://bfclcoin.com/]֍ ֍
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mahibul49
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November 07, 2018, 08:07:24 PM |
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yes bitcoin is independent and its decentralized.no one can control it. it does not depends on fiat currency and thats why it is unique
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brooklynian
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November 07, 2018, 09:29:11 PM |
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The mere fact that you see bitcoin priced in the fiat currencies of various nations does not mean that bitcoin depends on those currencies. The price simply gives you what it is worth and enables you to transact from bitcoin to fiat currency and vise versa.
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Raggie
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November 08, 2018, 09:55:20 AM |
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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.
Well, because there are many peoples who still not accept btc as a payment. If there is someone who want to buy a car with btc but doesn't find a seller who accept btc, they will need to sell their btc to fiat money first. That is why the btc value still depends on the fiat value.
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Trinity_boy
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November 08, 2018, 10:14:40 AM |
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To my understanding, it is not dependency but rather just a reference so that the value of bitcoin can be measured. USD is the universal currency of the world. Is it not all other currencies use as reference of their own value? It does not mean that they are dependent to USD, does it?
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Zin-Zang
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Killing Lightning Network with a 51% Ignore attack
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November 15, 2018, 04:27:32 AM |
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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 is dependent on Insane amounts of Electricity to run it's network, Electricity that has to be Purchased with the Local FIAT So your statement is correct: " Bitcoin is dependent on fiat currency for it's existence" No Fiat, No Electricity, No Bitcoin.
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I was Red Tagged because Lauda Blows Theymos to get back on DT The rest are just lauda's personal butt monkeys=> Hhampuz , Vod, TMAN , achow101
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shoreno
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November 15, 2018, 06:31:03 AM |
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Yes bitcoin is independent because it is decentralized but in the price of bitcoin are also dependent on fiat currency .
Bitcoin is dependent on Insane amounts of Electricity to run it's network,
Electricity that has to be Purchased with the Local FIAT
So your statement is correct: "Bitcoin is dependent on fiat currency for it's existence"
No Fiat, No Electricity, No Bitcoin.
Bitcoin doesnt consume any energy because its online and totally passive , it only uses electricity if you have a mining hardware and you are mining a bitcoin . Also , we can still have an electricity even without fiats because we can use natural energy such as solar , water and wind . In conclusion , it does not really matter at all if bitcoin is independent or not because what matter the most is the usability and purpose on why it was built .
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Zadeket
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November 17, 2018, 02:04:16 AM |
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maybe at this time bitcoin is still a stand-alone currency because not all countries officially form the crypto currency as the prevailing currency, and I don't think it depends on fiat currencies at the moment
Bitcoin is independent because prices are determined by bitcoin users through supply and demand, but as a standard it is converted to USD. So, there is no dependence on bitcoin on fiat currencies, in the whole world the value is the same. The difference is the price determined by the bitcoin exchange regarding the selling value and buying value, because it involves the profit of the bitcoin exchange.
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Zin-Zang
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Killing Lightning Network with a 51% Ignore attack
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November 17, 2018, 05:09:15 AM |
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Yes bitcoin is independent because it is decentralized but in the price of bitcoin are also dependent on fiat currency .
Bitcoin is dependent on Insane amounts of Electricity to run it's network,
Electricity that has to be Purchased with the Local FIAT
So your statement is correct: "Bitcoin is dependent on fiat currency for it's existence"
No Fiat, No Electricity, No Bitcoin.
Bitcoin doesnt consume any energy because its online and totally passive , it only uses electricity if you have a mining hardware and you are mining a bitcoin . Also , we can still have an electricity even without fiats because we can use natural energy such as solar , water and wind . In conclusion , it does not really matter at all if bitcoin is independent or not because what matter the most is the usability and purpose on why it was built . LOFL I argue with you , but you are seriously delusional , so there is no point. Have a Great Day and thanks for the laugh.
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I was Red Tagged because Lauda Blows Theymos to get back on DT The rest are just lauda's personal butt monkeys=> Hhampuz , Vod, TMAN , achow101
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fangbian
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November 17, 2018, 08:28:33 AM |
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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 is completely independent. It doesn't rely on anyone or anything.
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netdomon
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November 17, 2018, 12:03:49 PM |
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oh thank you
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