How important is fiat to Bitcoin?

[Obari]

Lately, I've seen so many bitcoin holders speak so badly of fiat and how much they wouldn't want to associate themselves with fiat usage if possible, but I took some time to make a little research and from my research, I do observed that Bitcoin usage wouldn't be an easy one without fiat not even in countries where Bitcoin is legalized and my question is,
can Bitcoin be easily used and spent without Fiat?
My answer is No

What's your opinion?
Let's discuss

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[jackg]

Can you buy things anywhere in fiat without someone somewhere comparing it to the Euro, Krona, Pound, Dollar, yen, yuan or all six before they've set the price? Does this mean anything?

If fiat disappeared, bitcoin would organically be able to take over much like anything else people chose as currency/being valuable.

If you buy something made in China and you're not buying it in yuan, someone's done a conversion somewhere. If you're buying something in an airport in currency not accepted in that country it wouldn't be possible under your own aspects. Most companies that handle crypto conversions at the moment deal in fiat because it's what they want to collect or to remain competitive.

Most things are priced arbitrarily, it generally doesn't matter what units they're priced in as long as a company can make a profit overall.

[_act_]

There were money before fiat came to existence, fiat brought more power to government to control. Gold and some other items have been used as money since centuries ago and they are still money. What is more important is that only fiat price is controlled, but the money in the past were all just like bitcoin which their prices are because of their demand and supply.

[serjent05]

Fiat isn't important to Bitcoin but Fiat currency is important to people.

That said Bitcoin is created as currency meaning it can do the same function as fiat currency but at a more transparent and censor-free transaction.  Bitcoin doesn't need any third-party financial company to create a transaction so in short, how can a more advanced currency system need an almost obsolete fiat currency system?

can Bitcoin be easily used and spent without Fiat?
My answer is No
What's your opinion?

My answer is yes. You can send bitcoin without fiat, and that's it.  It is different when people force a subject to accept Bitcoin when it does not really accept Bitcoin.

[Obari]

I just feel people are all against fiat just because it's been controlled and regulated by the government.
But the truth be told, there are purchases you would want to make but can't do that no matter how much Bitcoin you posses and your must have to change the money into fiat before such transaction can be completed..

I also do hope that fiat also fades away which I believe Bitcoin will the come full manifestation but before then, I think most Bitcoin transactions, even buying and selling of Bitcoin isn't complete without fiat

[2stout]

Fiat is important to Bitcoin because most people tend to understand things in terms of fiat.  If you remove fiat, then it would be like speaking a language that people don't understand, making Bitcoin adoption that much harder and longer.  Plus it assigns value to Bitcoin in terms the masses can understand.  So when the days comes 1BTC= 1BTC, they will understand.

[Maestro75]

Lately, I've seen so many bitcoin holders speak so badly of fiat and how much they wouldn't want to associate themselves with fiat usage if possible,

That is not right. They do not have to force it to happen because that will mean they are fighting for bitcoin to remain relevant but are forcing fiat to die off. If things are seen that way it will be partiality, not just only with bitcoin but every other aspect of life. We have to allow this things happen naturally so we can pick the best among them.

[Adbitco]

What's possible there is a general currency that could be acceptable anywhere any place, I know bitcoin is a digital money that has no limitations of transaction but it could only be used as an exchange of value wherever it's acceptable. For instance, you wanna lodge or book a reservation in any country, your arm should be if such place do accept bitcoin and if yes then it would be possible to deal with. Fiat is just like units to show value of what you wanted.. lemme say you lodge in a hotel room worth $500 per night and how do you pay is via fiat that which has represented the value and quantity of what you want same it's with bitcoin which might likely be some fraction of bitcoin to represent such value. In general fiat comes in wherever they don't accept bitcoin in any areas you find yourself, and if it happens that bitcoin is acceptable then no need to move and deal with fiat.

[Ryu_Ar1]

Actually in this case I don't think fiat is important for bitcoin but for other things fiat is still very important for the daily life of most people including me.
To be honest, in this case, Fiat is probably another comparison to bitcoin, which indeed they have a system that is the opposite of one another.
So maybe the interest of fiat for bitcoin is only as a differentiator that there is a means of payment that indeed offers no third party as a bridge and bitcoin offers that.

[MoonOfLife]

It's happening a lot, I really don't understand why they are talking bad about fiat when they still use fiat everyday. For now, like it or not, fiat is the king of money and will remain in use until the government intends to phase it out. Although it has a lot of problems, we will never be able to stop using it. As for bitcoin, it is actually becoming an investment, an asset, a commodity rather than a currency so comparing it to fiat is not correct.

[GeorgeJohn]

It depends on what you want to get with bitcoin, some certain countries that adopt fully the usage of Bitcoin do buying and selling with Bitcoin option. And also some of the companies do accept payment with Bitcoin instead of converting it to Fiat currency before making any purchase, with this kind of acceptance of cryptocurrency to this extent, i think fiat have no much impact to play. So from my perspective, what's hindering bitcoin to not be value without accompany of fiat currency is massive adoption.

[PX-Z]

Why hate and compare, they are 2 different thing, just set aside the comparison and learn how important this 2 is. You cant use bitcoin to buy daily needs in ordinary store outside, aside from its volatility, internet connection is also a problem unless you are in a city. While fiat can do most of them time aside that authority controlling, the circulation, the use, etc. People are used to have it.

[GeorgeJohn]

Why hate and compare, they are 2 different thing, just set aside the comparison and learn how important this 2 is. You cant use bitcoin to buy daily needs in ordinary store outside, aside from its volatility, internet connection is also a problem unless you are in a city. While fiat can do most of them time aside that authority controlling, the circulation, the use, etc. People are used to have it.

In a civilized environment you can get whatever you want with Bitcoin, the problem is that the world is been known by a fiat currency and it's a few years bitcoin marked thirteen years (13yrs) and it's able to gather this kind of influence, while Fiat currency have stayed so many years, so the comparison is still far from my perspective, so if bitcoin should stay hundred years on earth, theirs every tendency that it can be use get your needs in the supermarket in the future.

[hatshepsut93]

If you are asking "is it possible to live without ever using fiat and only using Bitcoin", then the answer is it's only possible to do so in a few places in the world, and it's extremely inefficient.

It's not that Bitcoin needs fiat, the protocol is designed without any fiat systems in the loop, but Bitcoin is not adopted enough to replace fiat in daily life. That's why investment is Bitcoin's biggest use case, instead of payments.

[KennyR]

Until the bitcoin gets direct usage, the need for fiat will be there. Each and everything is valued in terms of fiat. The price of single bitcoin equals specific amount of fiat. This is how the market works. For now we can't think of bitcoin replacing the fiat system followed all around the world.  Such a way of working gives way for coexisting than just any of the one having its dominance.

The direct usage of bitcoin over the years have increased and it shows the growth happening In terms of adoption, but at any point the usage of fiat haven't declined during the same time period.

[Despairo]

Bitcoin is really easy to spend without fiat! The reason currently we're hard to spend Bitcoin without fiat is only few or none offline stores are accept Bitcoin payment in satoshi equivalent, they're only want to accept Bitcoin and we need to convert to fiat equivalent. Most people still look Bitcoin price stick with fiat, while it's actually 1 BTC= 1 BTC. Don't forget Bitcoin is easy when you want to send it, you can do P2P and just wait for at least 1 confirmation, it's done.

[hZti]

Since the bitcoin payment network is very small bitcoin to fiat is basically everything! If you buy in a store and the store has no possibility to buy themselves also in bitcoin they will need to exchange to fiat to get new products. So for them it is very important to look what price they can make a profit on in fiat and not in crypto.

[yudi09]

can Bitcoin be easily used and spent without Fiat?
My answer is No

Money is a medium of exchange used by people in every transaction of goods and services.
Bitcoins can and can be used in transactions in the event that Fiat does not exist at some point. Many companies in the world have started using Bitcoin in transactions and that is the proof behind the answer that Bitcoin can be used without Fiat.
One obvious example is El Salvador.

[mindrust]

Lately, I've seen so many bitcoin holders speak so badly of fiat and how much they wouldn't want to associate themselves with fiat usage if possible, but I took some time to make a little research and from my research, I do observed that Bitcoin usage wouldn't be an easy one without fiat not even in countries where Bitcoin is legalized and my question is,
can Bitcoin be easily used and spent without Fiat?
My answer is No

What's your opinion?
Let's discuss

You are right. We still live in a FIAT world and bitcoin won't replace it any time soon. Heck I believe FIAT can't be replaced by anything... Not by bitcoin, not by gold, not by any other asset. The greatest weakness of FIAT is also its greatest strength which is getting printed at will. Believe it or not, somehow we need an asset that loses its value over time. That's because the humanity is expanding, multiplying, making more babies. In the end they need to get paid but get paid less and less, not nominally but in terms of real wealth.

[Gallar]

Lately, I've seen so many bitcoin holders speak so badly of fiat and how much they wouldn't want to associate themselves with fiat usage if possible, but I took some time to make a little research and from my research, I do observed that Bitcoin usage wouldn't be an easy one without fiat not even in countries where Bitcoin is legalized and my question is,
can Bitcoin be easily used and spent without Fiat?
My answer is No

What's your opinion?
Let's discuss

Fiat money and bitcoin are supposed to coexist, because they have the same uses, even though they have differences, but they don't have to insult each other.
people who vilify fiat money forget that in their daily life they still use fiat money.
indeed fiat money has its drawbacks, but it is not natural that it must be abolished, because fiat money has been around for many centuries, on this earth.

and bitcoin is present as a complement, this is where bitcoin is used, the deficiencies that exist in fiat money, are covered by the existence of bitcoin.

In conclusion, don't insult an item or object that has helped you and you use it.