Fiat and Bitcoin work hand in hand because without fiat you cannot buy Bitcoin

[Dunamisx]

Fiat exist and bitcoin also exist, but the two are more independent, we can still enjoy and leave without Fiat and make use of Bitcoin, only that decentralized institutions have to realize that if we must use bitcoin by them, then it does not have to be controlled by them, it is more easier they allow everyone to engage the use of Bitcoin even without having to exchange it to Fiat as long as it is still an acceptable means of exchange or buying of goods and services.

[Luzin]

Fiat currency is serving it purpose as a means of exchange, just like how bitcoin can be used to purchased/exchange fiat, both are still currency yet having differences but serving similar purposes and even more with different features or functions.

Remember how Bitcoin currently has value? It comes from the trust of its users. So Bitcoin is benchmarked against fiat. Although this is not according to Satoshi's wishes, the industry continues to develop. They coexist and need each other. Remember, Bitcoin does not work according to the majority's rules of the state, so they will certainly not accept it as a new currency. This situation will continue indefinitely if the paradigm of centralization is still used by the world.

[reagansimms]

Fiat and Bitcoin are two different things working together but one tend have more value in recent time than the other . Today, Bitcoin is the new idea of the new world but without fiat can you buy Bitcoin? Though Bitcoin seems to be the new order but it will not certainly take the place of fiat. Bitcoin seems to be like the shares you buy from the banks, company etc. the way bank and company shares cannot replace fiat is the same way Bitcoin cannot replace fiat. Both will work together for the betterment of the people.

Fiat money is issued and controlled by the government/central bank for economic stability and serves as a means of daily transactions, while Bitcoin cannot be controlled by the government because of its decentralized nature, so both will continue to run side by side because fiat money is a universal medium of exchange and Bitcoin is an alternative store of value or better known as "digital gold". Logically, you can still buy Bitcoin without using fiat money, this step can be done through a crypto-to-crypto exchange. For example, you can exchange USDT or BNB for Bitcoin on exchanges like Coinbase or Binance, but if you're referring to your first transaction to enter the crypto world, you'll need fiat currency to buy the initial Bitcoin. Fiat money and Bitcoin are two systems that complement each other and will not replace each other. IMO

Currently, Bitcoin operates as a digital asset whose value is determined by market speculation and demand, has no central authority and operates decentralized through a blockchain technology network, while fiat money is issued and regulated by a country's central bank or government and its value is based on the decisions of the governing government.

[Z-tight]

You can earn BTC through services you offer and through mining as well, which is the way new BTC's are created. Though you are right and the common way to get BTC is to buy it through fiat or exchange it for something of value. Fiat is the legal tender in every country, so it is normal that it is the common currency used to acquire assets or anything else, including BTC.

[Adams0001]

Fiat is here before Bitcoin, And it's humans own normal money, there is nothing else we can use to purchase Bitcoin than fiat and when you pull the trigger you have saved yourself from the possible inflation from that fiat money.

Bitcoin don't need to beat Fiat though, it was not created to replace fiat in the first place, so it's fine without it, some people are also storing their fiat onto stable coins because it's easier this way without the banks.

I hold some stable coins too and it is more convenient for me to buy Bitcoin using USDC than exchanging fiat to Bitcoin directly, it's more stressful to do than using stable coins.

Exactly bitcoin don’t need fiat before he can continue doing well because bitcoin and fiat are different and we used fiat to buy bitcoin and hold for long term so anyone have is place playing in the word because no one knows about bitcoin before we all open eyes people are using fiat in the word before bitcoin come existence and people start knowing it gradually and start to get experience and knowledge about it and make transactions with it and invest. So I can probably says that anyone works is different part, they don’t work hand to hand in my opinions. Since when bitcoin comes existence people that know knowledge about bitcoin have just focused on investing in it and know keeping fiat along again.

[ColdLava40]

Fiat and Bitcoin are two different things working together but one tend have more value in recent time than the other . Today, Bitcoin is the new idea of the new world but without fiat can you buy Bitcoin? Though Bitcoin seems to be the new order but it will not certainly take the place of fiat. Bitcoin seems to be like the shares you buy from the banks, company etc. the way bank and company shares cannot replace fiat is the same way Bitcoin cannot replace fiat. Both will work together for the betterment of the people.

Why not? Sell your goods receive money in Bitcoin, offer a service get paid in Bitcoin.

You might not be directly buying Bitcoin but you are getting paid for services in Bitcoin. We don't necessarily do need fiat to acquire or invest in Bitcoin. Just because adoption has not gotten to it's peak, Bitcoin it's is a currency independent of any other.

We don expect bitcoin to take over the fiat system. But it could replace it in some aspect, especially those where the fiat system has failed to be competent. Every financial system plays their on roles, so do Bitcoin.

[Vaskiy]

Bitcoin is a form of money. The purpose for which this has been innovated is different from its present. Evolution of Money happened through continued transformation. From the barter system slowly to stone coins, then to metal coins. From there paper currencies got into usage, following is the digital money which is just the digital representation of fiat. Here technology advancement paved the way for bitcoin. This isn't money, but the growth and holding value equivalent to fiat made it cryptocurrency. Fiat and Bitcoin are meant for different purpose, and both were functioning on it. Fiat System is the base, maybe if bitcoin adoption happens all around the world the dependence on it rises which may lead to a change of valuating fiat in terms of bitcoin. This is just an expectation, but in reality, it won't happen.

[Amphenomenon]

Fiat currency is serving it purpose as a means of exchange, just like how bitcoin can be used to purchased/exchange fiat, both are still currency yet having differences but serving similar purposes and even more with different features or functions.

Remember how Bitcoin currently has value? It comes from the trust of its users. So Bitcoin is benchmarked against fiat. Although this is not according to Satoshi's wishes, the industry continues to develop. They coexist and need each other. Remember, Bitcoin does not work according to the majority's rules of the state, so they will certainly not accept it as a new currency. This situation will continue indefinitely if the paradigm of centralization is still used by the world.

We have some point identical, although my own viewpoint of Bitcoin is still on what's written on it white paper.

Yes there are differences but in as much as these differences exist, like you mentioned and I also, they still share some characteristics as a currency, at least as a means of exchange, as long as parties involved agree to it.

[retreat]

but without fiat can you buy Bitcoin?

There are other ways to get Bitcoin: you can mine it, you can offer services and get Bitcoin in return, or you can sell goods and receive Bitcoin. It's just that people in this world have to use fiat to buy things, so they use fiat to buy Bitcoin—if most people were using rocks, I think that people would be using them to buy Bitcoin.

Bitcoin seems to be like the shares you buy from the banks, company etc. the way bank and company shares cannot replace fiat is the same way Bitcoin cannot replace fiat. Both will work together for the betterment of the people.

Well, I also understand that Bitcoin can't replace fiat, but one of the reasons it's so difficult for Bitcoin to replace fiat is because governments are so protective of fiat, that people are restricted from using their Bitcoin for payments. In some countries, Bitcoin is even banned and people who use it are subject to criminal penalties because it is considered to have the potential to disrupt their economy and other ridiculous reasons. Nowadays, Bitcoin is so tightly regulated that its use is not as free as it used to be.

[ZAINmalik75]

Fiat and Bitcoin are two different things working together but one tend have more value in recent time than the other . Today, Bitcoin is the new idea of the new world but without fiat can you buy Bitcoin? Though Bitcoin seems to be the new order but it will not certainly take the place of fiat. Bitcoin seems to be like the shares you buy from the banks, company etc. the way bank and company shares cannot replace fiat is the same way Bitcoin cannot replace fiat. Both will work together for the betterment of the people.

You are making a big mistake by saying the two are different things but working together because they are not working together, they are completely opposite to each other. Their narratives, demand, and user base are completely different. When you said it will certainly not take the place of fiat, I took a sigh of relief haha, like we were not aware of this before, because BTC is never meant to replace fiat. Banks themselves say fiat is not meant to be held, it is supposed to be used as a currency.

Like for paying for services and products. While BTC can be both, it can be used as a payment method and it can also be used as an asset like gold, but it is more portable than gold and can easily be used even in the smallest unit, satoshi, for anything.

[lionheart78]

Fiat and Bitcoin are two different things working together but one tend have more value in recent time than the other . Today, Bitcoin is the new idea of the new world but without fiat can you buy Bitcoin?

Bitcoin somehow introduced a new system and structure of financial system but I am somehow hesitant to say that Bitcoin is a new idea of the new world since I cannot see the future without centralized authority.

Though Bitcoin seems to be the new order but it will not certainly take the place of fiat. Bitcoin seems to be like the shares you buy from the banks, company etc. the way bank and company shares cannot replace fiat is the same way Bitcoin cannot replace fiat. Both will work together for the betterment of the people.

Bitcoin is somehow getting more popular, but I am still hesitant to say that Bitcoin is the new order because it has yet to replace current financial systems.  Aside from that, Bitcoin is yet to occupy the majority of the global transactions, Bitcoin is right now at small scale compared to the current financial system.  Yes, Bitcoin challenges the current financial system and introduces new ideas, but I believe it is still far from being the new financial order.

[snowpega]

Fiat and Bitcoin are two different things working together but one tend have more value in recent time than the other . Today, Bitcoin is the new idea of the new world but without fiat can you buy Bitcoin? Though Bitcoin seems to be the new order but it will not certainly take the place of fiat. Bitcoin seems to be like the shares you buy from the banks, company etc. the way bank and company shares cannot replace fiat is the same way Bitcoin cannot replace fiat. Both will work together for the betterment of the people.

Both things are dependent on each other. Like, we need fiat to buy bitcoin, and we still need fiat when we sell bitcoin.
Because Bitcoin is not acceptable as a means of payment everywhere. But those days are not so far when we will see a very crypto-friendly environment all over the world. Because in the cycle we have seen many positive adoption of bitcoin and development in the crypto space, which is leading the crypto space towards a friendly environment.

For example, in this cycle, many big institutions have adopted Bitcoin, and along with this, Bitcoin has also been adopted by some countries for their national strategic reserve. Where some are still considering adding it to their national strategic reserve, which is quite a positive thing for the bitcoin market.

[Ryu_Ar1]

Isn't that a natural thing because since the beginning fiat has always been an exchange rate that is recognized in all countries so that it becomes an exchange including for buying bitcoin because in this case if the means of exchange or transaction is not fiat I think the conditions will not be much different because since the beginning fiat has always been a means of purchase for anything.

But whether this is mutually beneficial I think not but for now both are complementary. We know the fiat system which in fact is as a tool for the government to regulate their power it becomes absolute power but that freedom will arise from bitcoin with a system that is more directed towards transparency and without any ties from other parties including the government so that this can be a complement for us so that we are not too bound by the system that the government has created. But on the one hand for now fiat is still needed because the tool for transactions that is recognized in all countries that exist now is fiat.
So we can utilize this into an advantage with fiat that we can use daily for our needs but bitcoin can be used as a symbol of our freedom in financial terms.

[Churchillvv]

If I have to be rational and try to imagine your perspective of bitcoin, you are not far from the truth but the fact is that you are missing the concept or interpreting bitcoin the wrong way. Bitcoin exist on its own but then what brought about bitcoin is fiat when the monetary system failed then bitcoin came in as an alternative but not to replace it because fiat is the functionality of government since they deal on control and fiat is the only thing they can manhandle to their desire but bitcoin is just an asset as you describe it but it’s a currency on its own, which means it can function in the absence of fiat. You might think because conversions are don in fiat that’s why it’s fiat dependent but bitcoin has its own unit like sats.

[KingsDen]

Fiat and Bitcoin are two different things working together but one tend have more value in recent time than the other . Today, Bitcoin is the new idea of the new world but without fiat can you buy Bitcoin? Though Bitcoin seems to be the new order but it will not certainly take the place of fiat. Bitcoin seems to be like the shares you buy from the banks, company etc. the way bank and company shares cannot replace fiat is the same way Bitcoin cannot replace fiat. Both will work together for the betterment of the people.

• Bitcoin is limited in supply and that is why it values more on the long run
• Bitcoin was never created to replace fiat, it was created to provide an alternative
• Fiat is not the only means to buy bitcoin, you can buy with gold, other precious metals, even with altcoins
• Bitcoin is not like buying shares, bitcoin is a currency and as well as an asset
• Bitcoin and fiat will always co-exist.

[Finestream]

First of all, there is no goal competition between fiat and bitcoin, because bitcoin is invented not to replace the position of fiat, but to work as an alternative currency to fiat. So the end goal is to have a healthy, working relationship with fiat, but I don't think the government viewed it that way. They see it more as a threat to fiat, that's why until now, most of the government are still hesitant to adopt bitcoin as an alternative to fiat.

But you are right there, without fiat, its hard to accumulate bitcoin. That's why as much as bitcoin is crucial as an investment tool, fiat on the other hand is still so much useful particularly in making our bitcoin investment possible.

[Alphakilo]

If I have to be rational and try to imagine your perspective of bitcoin, you are not far from the truth but the fact is that you are missing the concept or interpreting bitcoin the wrong way. Bitcoin exist on its own but then what brought about bitcoin is fiat when the monetary system failed then bitcoin came in as an alternative but not to replace it because fiat is the functionality of government since they deal on control and fiat is the only thing they can manhandle to their desire but bitcoin is just an asset as you describe it but it’s a currency on its own, which means it can function in the absence of fiat. You might think because conversions are don in fiat that’s why it’s fiat dependent but bitcoin has its own unit like sats.

I like the perspective OP came from because it is just the reality of the current economic system. Both fiat and Bitcoin complements each other in their own way. While Bitcoin has a digital gold status as an asset that helps individuals, institutions and corporations that earn in fiat be able to attain the wealth status or preserve their wealth status by investing in ETF or a holding strategy, the importance of fiat in fulfillment of this purpose cannot be overlooked both for those who see Bitcoin as a payment solution or a savings solution or fiat as a means to acquire Bitcoin and use it to this end.

[Dr.Bitcoin_Strange]

Fiat is used to purchase Bitcoin because Bitcoin is not a legal tender the way Fiat is, people receive payments in fiat and they make purchase in Fiat too, they spend Fiat for their needs, had it been Bitcoin is a legal tender worldwide and then companies and government have adopted paying workers in Bitcoin, tell me who will then have to buy Bitcoin with Fiat when they are already receiving salaries in Bitcoin? It mean the person will just have to save some of their Bitcoin.

[Hamza2424]

Fiat and Bitcoin are two different things working together but one tend have more value in recent time than the other . Today, Bitcoin is the new idea of the new world but without fiat can you buy Bitcoin? Though Bitcoin seems to be the new order but it will not certainly take the place of fiat. Bitcoin seems to be like the shares you buy from the banks, company etc. the way bank and company shares cannot replace fiat is the same way Bitcoin cannot replace fiat. Both will work together for the betterment of the people.

I am getting BTC without fiat. How? I am providing my time and services, and in return I am getting paid in BTC. Now you would say your employer might be getting those BTC via fiat. What if they are not? Instead, they are mining BTC and directly giving it in exchange for the products or services they are using.

How would you see this? Bitcoin is designed in a way that you can stay completely independent of fiat, but not everyone can start their journey like this. Maybe they can try, but for now the majority is still buying using fiat. They are using P2P services to convert their fiat into BTC, or maybe some banks are allowing direct BTC exposure, but so far I have only seen banks giving direct exposure to BTC ETFs, not BTC itself.

[Maslate]

Bitcoin exists to offer financial freedom and get rid from the shadows of centralized government, banks and other centralized entities. But more than that, bitcoin is also here to bring alternatives to the people especially in dealing with financial payments and transactions, without taking place the position of fiat since everyone knows its definitely impossible.

Also, seeing bitcoin as a profitable investment these days, highlights the importance of having multiple sources for unlimited cash flow so that bitcoin investment will be more accessible to the people, as bitcoin is for the people, with its equal opportunities and privileges.