Which is more important bitcoin or fiat?

[masterrex]

IHMO, I think you have a point, for now, that cryptocurrencies are not yet totally accepted as legitimate currencies by our respective governments because they only treat Bitcoin as a valuable Digital asset and not a currency, base on that reality the Central bank issued currency called fiat is the dominant currency to buy anything that we need. but I believe soon it will be changed because world commerce goes cashless and this time the CBDC's and cryptocurrencies will be more useful.

[nemey]

I think fiat is more important, because with fiat I can buy Bitcoin and also buy everything. Fiat is an approved currency and can be used for all transactions. then this fiat is indeed much more multifunctional than Bitcoin.

[pinggoki]

I think fiat is more important, because with fiat I can buy Bitcoin and also buy everything. Fiat is an approved currency and can be used for all transactions. then this fiat is indeed much more multifunctional than Bitcoin.

Actually both are important, with the used of fiat you can buy everything you want and everything you need also buy cryptocurrency and invest it in some projects. Bitcoin is also important too because of this bitcoin you can do some investments and used it as an multifunctional transactions with other people. Bitcoin and fiat is important to each orher because if there is no fiat money then there are no bitcoin prices that's how important this two are.

[bayu7adi]

Bitcoin and fiat is important to each orher because if there is no fiat money then there are no bitcoin prices that's how important this two are.

That means Bitcoin still requires FIAT as a unit of exchange, yes it confirms that FIAT is currently prioritized over Bitcoin because indeed the official currency is easier to accept publicly.
Imagine that you live only owning Bitcoin and are not allowed to have FIAT. You will find it more difficult to survive.

Already answered

[FlightyPouch]

Because I am a cryptocurrency player, I chose Bitcoin. With Bitcoin I can sell for profit and I can exchange it to fiat. And the Bitcoin value is very high. So it is very tempting to have a lot of Bitcoin.

Even though bitcoin is having a great run now, we are still selling it for profit. With the adoption of bitcoin right now is low, we are still getting our profits from these crypto investments as fiat by selling it. So right now, the most important is fiat but if in the future where the adoption is so high, there is no doubt that bitcoin will be more important that fiats.

[aysha9853]

in my opinion Bitcoin is like gold but its value is like Fiat, and bitcoin has a supply that is not that much while Gold is very much, but the value of bitcoins like Fiat is of an uncertain price

[Jatinder98]

Bitcoin is a digital currency that has no central governing authority in between. It makes the transaction process flexible and secure. The blockchain technology makes the system more transparent and easy to monitor.

[ninabobo]

I don't actually prefer to analyze these two (fiat and crypto) on the grounds that the two of them have their own use on my end. Be that as it may, to address your inquiry, in view of my experience and on how I use it, I'd pick fiat. The cash I utilize generally in my day by day exchanges. As of now, I'm simply holding my BTC, and on the off chance that I need to utilize them, I actually convert them into fiat prior to managing an exchange. Plus, the shippers I go over are not that acquainted with crypto. On the off chance that they are, they're not tolerating it. Not yet. Indeed for the survey, I pick fiat.

[SmokerFace]

It's hard to say since both are necessary atm Fiat for Economy Centralized and Bitcoin (Decentralized).
Fiat's necessary when the network is non-dependable/Unstable, Fiat's the only transaction possible on the store you're purchasing.
Bitcoin (Cashless): Decentralized and hard to trace compared to usual payment options such as Credit/Debit Cards.

I'd say they both have their positives and negatives based on the situation; one should be used.

[777Jolami]

The reality is that fiat will be more important.  Because, fiat is being used in everyday life, sustaining economic, income of people, all classes of the world.  But nothing is forever and irreplaceable.  Bitcoin became popular and by default is a large-scale speculation for the same purpose, you can see that bitcoin is now a "million dollar asset".  Bitcoin will be more important in the future, but it will not replace fiat.

[Rruchi man]

In my opinion, for the now, btc or fiat? fiat is more important in society, while fiat is more valuable. Fiat can exist completely without btc, but btc right now cannot exist or be used everywhere without it been converted to cash.

[Kong Hey Pakboy]

I don't actually prefer to analyze these two (fiat and crypto) on the grounds that the two of them have their own use on my end. Be that as it may, to address your inquiry, in view of my experience and on how I use it, I'd pick fiat. The cash I utilize generally in my day by day exchanges. As of now, I'm simply holding my BTC, and on the off chance that I need to utilize them, I actually convert them into fiat prior to managing an exchange. Plus, the shippers I go over are not that acquainted with crypto. On the off chance that they are, they're not tolerating it. Not yet. Indeed for the survey, I pick fiat.

Normally I don't really want to choose between the two because they are important for me in their own ways. We also cannot say now that Bitcoin is dominant than fiat because if it were, we should be using bitcoin in all fields. The currency system we are using today have been used for a long time ago, and bitcoin would not replace that easily. As fiat has its own strengths and weaknesses, bitcoin is same with that aspect. We just need to be in contact with Bitcoin a little longer, and I am sure the time will come everyone will adapt and will use it. Trust the process we are doing today.

[XZERO1]

Correct me if I am wrong,

* You can have bitcoin but if it is not being tradable to fiat currency then your bitcoin has no value at all.

* You need to buy bitcoin with fiat currency without fiat currency you can't have bitcoin

* Wrong, even if Bitcoin somehow is not tradable to Fiat, it still could be used as a payment method in return for goods or services.

* Again wrong, you can own Bitcoin without having to exchange your national currency(Fiat) for it, by just selling services and products and accepting Bitcoin only, or as an alternative payment method for your business or whatever organization that you own, just like how people exchanged(sold/bought) goods when there was no Fiat, they just traded their valuable goods or valuable metals like gold for other stuff.

[TopTort777]

What tastes better, banana or milk? Both assets have different usage cases and both can be used as a payment. While fiat is still more popular, bitcoin allows to become richer just for having it.

I would personally go with bitcoin. I believe that technology will substitude old fashined way of payment. Im the one who wishes to have my money to be integrated into hand and be able to make payments just with a swing, everywhere, anytime and in less than a second.

[natefielding]

Both are important on its way.. For example is fiat is important for our everyday living while Bitcoin or other cryptocurrencies are important for investments

[LittleBitFunny]

Fiat currency and Bitcoin Both have their own and significant role, you can't say one of it is valueless. Currently both are playing a good role in our daily life.

Conclusion

It's true that people use fiat currency to trade Bitcoin. So, what do you want to use instead of fiat? It is very much normal that people use their fiat to trade valuable asset like Diamond, Gold etc.

Could it be possible to get bitcoin a value if not because of Fiat currency?
Could fiat currency will have no value without bitcoin? (Honestly fiat currency has value with or without bitcoin)

Why not? every valuable asset has its own value, somehow if you don't have fiat then it will be difficult to measure the value of that asset but it is not like that your asset will turned into valueless without fiat. if you want to sell your gold to someone who doesn't have fiat then he has to give you something else valuable thing to acquire your Gold.


* "You can have bitcoin but if it is not being tradable to fiat currency then your bitcoin has no value at all."
- Your thinking is wrong, without fiat Silver,Gold,Iron has their own demand and value. People are gaining and earn BTC and spend that for taking service or fiat.


* "You need to buy bitcoin with fiat currency without fiat currency you can't have bitcoin"
- Miner earned Bitcoin by mining, we earned Bitcoin in this forum by doing task and giving service,
  Buyer or manager spend their BTC on us by taking service from us. Thus how Digital currency perform its work.
  So BTC is a Self-contained Digital currency.


* "when you buy bitcoin you have to pay services like in those banks and when you like to convert bitcoin to fiat and withdraw it to a banks then you will then again to pay the service of the bank. You need also to pay the bitcoin transaction fee. So fees are everywhere from those banks to bitcoin network deducted by the miners."
- This is a so-called fees, you are taking the best service with a little amount of fees without dealing with middleman and any kind of harassment.

[best123]

Both of them are important but Bitcoin is very volatile. Though fiat also depreciates. I love Bitcoin payment during bear market.

[Trinx01]

Both are important, both have their purpose as well and everyone can benefit from this both currency, it just up to you if what will be your needed and the situation as well, just, for example, this pandemic gives so many hard things to us and bitcoin helps us with that, as for transferring money, investment and earning as well. Fiat is also good because we are using it for our daily lives and it cannot be replaced by cryptocurrency ever because we can spend it right away without thinking of the transaction fee and the time frame before the confirmation.

[Mituletr]

It depends on which currency can be used for transactions in the country. As more and more countries become familiar with Bitcoin, Bitcoin may be more important in the future.

[elisabetheva]

Still now, bitcoin is not able to take place of fiat currency. We need fiat currency in our daily life. Most of the people are unaware of bitcoin. But we are not in the ancient world. We need to use digital currency like bitcoin for our betterment.

actually during this pandemic there has been a lot of digital money growing in every country which is held by private companies, but that is only limited to a very limited scope and applies in the countries that make it. different from crypto with bitcoin which can be between countries without time limits and any circumstances as long as there is an internet network.

but there are still many who really need paper money (fiat) for manual transactions and it cannot be replaced with bitcoin for sure. so that there will never be a change in the use of banknotes that will continue to run.

better is complementary and mutual need and support between fiat and bitcoin, because let it run with their respective systems.