Can BTC exist without Fiat?

[Kittygalore]

I think it can exist because it can be a medium of exchange although I can't fathom how the people will be able to cope with cryptocurrency as a mode of payment the way fiat has been used for centuries.

[TribalBob]

I don't think bitcoin can survive without fiat, because where can people buy bitcoin itself without starting with fiat,

when you buy a car with bitcoin I think it's possible, it's just that , when  bitcoin have high price  you will experience a very large loss compared to using fiat money

[ropyu1978]

bitcoin and fiat are like body and life, a body without life is meaningless, and vice versa, if you say can bitcoin exist without fiat, my personal answer is definitely no, we must realize that if bitcoin is not supported by fiat currency, bitcoin definitely won't last until now,

[RokokGudangGaram]

bitcoin and fiat are like body and life, a body without life is meaningless, and vice versa, if you say can bitcoin exist without fiat, my personal answer is definitely no, we must realize that if bitcoin is not supported by fiat currency, bitcoin definitely won't last until now,

That is true, even before the mere existence of Bitcoin, there is flat. And now they are may be two different entities but these two go along with each other. In the matters of usage of both, I think there will be troubles if flat will be used alone, and vice versa, if Bitcoin will be used alone. Not to say that the value of Bitcoin is different in every currency and country there is when converted into flat. I believe that having both of these two at this present time is the ideal way.

[Maslate]

I don't think bitcoin can survive without fiat, because where can people buy bitcoin itself without starting with fiat,

when you buy a car with bitcoin I think it's possible, it's just that , when  bitcoin have high price  you will experience a very large loss compared to using fiat money

Its volatility feature is the thing that merchants had to consider accepting Bitcoin as a mode of payment. If only that its value is stable, the majority will likely use it instead of fiat but as this can never be changed, we could think that Bitcoin won't ever survive or exist without fiat money.
But it was not an issue, I think. Fiat money will still be there even there is a surge of Bitcoin demand because the majority will still be using fiat compared to Bitcoin.

[Malam90]

Firstly Bitcoin was created without the dependency on fiat but later the value of Bitcoin is highly related to each other. Now without fiat, we can't compare the real value of Bitcoin or can't pay Bitcoin in exchange for goods or assets. If Bitcoin becomes mainstream coin in future, probably we can exchange something with Bitcoin but till now, fiat is inevitable.

[mrongoz22]

can bitcoin without fiat, I think bitcoin has a dependence on fiat currency, if fiat money does not accept bitcoin exchange, most likely the selling value of bitcoin will fall, and there is no price, bitcoin and fiat cannot be separated, fiat and bitcoin have an attachment What's amazing is that they can't be separated.

[amihada]

bitcoin and fiat are like body and life, a body without life is meaningless, and vice versa, if you say can bitcoin exist without fiat, my personal answer is definitely no, we must realize that if bitcoin is not supported by fiat currency, bitcoin definitely won't last until now,

I don't understand what you are talking about, don't you think that transactions before using fiat are used to barter with gold and silver, if there is no fiat, the transaction continues, so if there is no fiat now it doesn't affect bitcoin, if you are currently bartering gold and silver then bitcoin can actually be exchanged for gold and silver.

[ILuckyGuyI]

To continue its existence, Bitcoin should be able to used in everywhere first. Because now, we can't use Bitcoin without converting it to fiat in many places. If this situation changes in the future, then we won't need fiat for using BTC.

[agg2702]

I think this will be difficult to happen because basically bitcoin will stay side by side with fiat no matter what.
  and why it was suspended because I think this is one of the strategies how they take advantage. because it is very clear because here we are free to do anything including taking the highest possible profit and there is no law that prohibits it so I think it becomes normal if they do that.
and it is very difficult for bitcoin to break away from fiat because in fact they need each other

[masterrex]

IMO, I dont think so, because In the first place Bitcoin was created to fix a particular problem on fiat, so without fiat, I believe Bitcoin was not put into an idea, and later on, it was materialized and made by Satoshi. Let us accept the fact that even today the price of Bitcoin was tied up on fiat (US dollar) to be exact, so it is very difficult to remove fiat into the current system, that's why let them co-exist so that people will have an option.

[Kez1817]

The reason for this question is "The Standard for Deffered Payment".
If I want to buy goods worth $2000 and the seller offers a Deffered means of payment. I can pay $1000 and in later months pay the balance of $1000.
Can this happen with BTC, if not now but in the future.
Maybe I want to buy goods worth 0.2 BTC, I paid 0.1BTC, in the later months can I pay the balance of 0.1BTC without paying its equivalent in fiat?
Thank you.

For now, it's impossible. Fiat is the easiest form of payment and doing transactions.  Nowadays even we are in a modern world using a modern technology but not all are using it.  Although the adoption of bitcoin keep on increasing, we still need to convert it into fiat to use it widely. Maybe soon it will happen.

[Kakmakr]

Can I barter 20 chicken eggs for a hair cut ...or 50 eggs for a 9kg bag of Dog food? You can basically use anything without Fiat currencies, if the Banks stop issuing it.     What did people use before governments started with their toilet paper money?.... People bartered for goods and services and some people used scarce items like Sea shells and large stoned with holes carved into it.  

The last 300+ centuries, people lived with Fiat currencies.. but they still bartered with goods and services..it was just not the "standard" payment method.. because the governments forced people to use Fiat currencies. (because they manipulated the value and they tracked payments with unique serial numbers on notes)  

[conected]

I don't think bitcoin can survive without fiat, because where can people buy bitcoin itself without starting with fiat,

when you buy a car with bitcoin I think it's possible, it's just that , when  bitcoin have high price  you will experience a very large loss compared to using fiat money

- Whether bitcoin is at a high or low price, our buy and sell contracts are still failed contracts because it doesn't have to decrease or increase a few percent like regular fiat, those are very significant percentages and this is the point where people invest in bitcoin like a real financial sector. Besides, arranging the product's launch time, fiat is still the elder brother of bitcoin, bitcoin is a conversion from fiat, as soon as bitcoin denied the starting point and existence of fiat, it gave up on appearing to the public

[Woodie]

Tbh we haven't got to a point where everything is built around digitalisation  and is trust worthy, we have heard on several occupations people and companies having their systems compromised,  hacked etc, there is still a lot of work to be done for us to trust the system and top security put in place to run independently.

So many answer will be a no,we still need fiat and crypto (BTC) to run simultaneously to each other.

[South Park]

The reason for this question is "The Standard for Deffered Payment".
If I want to buy goods worth $2000 and the seller offers a Deffered means of payment. I can pay $1000 and in later months pay the balance of $1000.
Can this happen with BTC, if not now but in the future.
Maybe I want to buy goods worth 0.2 BTC, I paid 0.1BTC, in the later months can I pay the balance of 0.1BTC without paying its equivalent in fiat?
Thank you.

I do not see why not as this is something that business already do all the time, after all if a business uses their local currency and needs to buy necessary stuff with dollars they basically have the very same dilemma already, so if you replace dollars with bitcoin then you have your answer, right now this does not seem like it is possible because as we know bitcoin is not getting as much use as a currency as it should as it is being more used as an asset, but the day will come in which something like this will be possible.

[Xinarae*]

Fiat will exist as long as the world lasts nothing can be managed without fiat although bitcoin is used in the online world it is not used everywhere. Bitcoin is the best in the world of crypto and the use of fiat externally is unmatched fiat currency includes paper money coins bills etc which have value savings and are used as a medium of exchange for purchasing goods and services. Its value is determined by the market forces the relationship between the demand and supply of money and the stability of the issue or declaration to the government ie the performance of the country's economy and the way the country is governed.

[amishmanish]

Of course you can do this in a non-fiat world. You are able to access that 1000 USD credit from a bank depending on your credit rating and trustworthiness. In a hypothetical BTC world where your salary is a monthly/ weekly on-chain payment from your employer and your expenses are on the LN, you can always access credit by citing your future cash flow. Of course institutions would have to come up to provide such services.

The loan in BTC/ LN case would be much more easily processed as it can be scripted into a smart-contract to debit your salary account on the next on-chain transaction.

So BTC can easily exist without Fiat. In fact, its designed to exist as immutable in places where Fiat loses its value due to government policies. I still think that BTC wasn't designed to replace Fiat but to address the problems and corruptions in the fiat system. Satoshi envisioned it as peer-to-peer cash, enabling people to be their own banks and trade with whomever they want without the need to go through the rent-seeking walled gardens that governments erect around their citizens.

--snip-- Its value is determined by the market forces the relationship between the demand and supply of money and the stability of the issue or declaration to the government ie the performance of the country's economy and the way the country is governed.

What "market forces" do you think are in play when fiat is printed to not just save corrupt organizations but to ensure that their topmost executives get paid fat bonuses for getting us to those situations. Centrally printed Fiat was never a necessity like you quote. Civilizations worked even in the absence of it and they can in the future.

[sapnu]

Admit it or not, fiat was the one that paved the way for cryptocurrency to come to life. No matter how much we want it to replace fiat, we can never deny the fact that it has been the traditional currency for many over the past decades. Surely, many will disagree with the idea but if we would think it through, we'll see how caged and how limited we are whenever using fiat. Just by considering the fact that it is under the government's control makes it not ideal already when it comes to investments cause they would just keep on taking advantage regardless if they may get something from it or not.

[pinggoki]

I believe concepts like these can also be reapplied to cryptocurrencies, not just on fiat. The only reason why of course we aren't seeing such movement in the cryptocurrency industry is that fiat still pretty much does the work. Soon as cryptocurrencies see such notice in terms of financing if that's what you mean, provided of course that this happens exclusively for cryptocurrencies that are stable and are not fluctuating in value.