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

[Franklyn-wood]

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.

Not actually true like without fiat currency, you can not buy bitcoin because there are many exchange ways for having bitcoin like pizzas, other physical things, gift cards and any private deals. It's not always mandatory to have fiat currencies as means for purchasing bitcoins but I agree it is a most common entry ways for many people.

That's it, most common entry way is not like it is the only way and without fiat currency, people "can not" buy bitcoin.

Well let's look at the from the both ends, fiat is the first accessible means of transaction in all countries, which serves as the primary legal tender we all know and seen everywhere around us. Bitcoin can't be accessible without having access to the internet which limits a lot of people to care less about it unlike the fiat which we see in all our local market, office, party and lot more. It has it was uh linked to what ever transactions that is carried out no matter how Small it is.

[EL MOHA]

Well let's look at the from the both ends, fiat is the first accessible means of transaction in all countries, which serves as the primary legal tender we all know and seen everywhere around us. Bitcoin can't be accessible without having access to the internet which limits a lot of people to care less about it unlike the fiat which we see in all our local market, office, party and lot more. It has it was uh linked to what ever transactions that is carried out no matter how Small it is.

This explanations is for paper money and fiat is not just paper money but more. Fiat also uses the electronic means too and without the internet you cannot use it also and that’s what we have with the likes of CBDC too,

The discussion is actually getting bitcoin without actually using fiat as others do not think something like that is possible and I say that such thing is possible but it’s not rampant or not too common because the choice is still limited, example is offering services to earn bitcoin like selling and buying goods or rendering any services and then the payment method is bitcoin you earn bitcoin without using Fiat to buy it, another method is through mining, this choices are limited but definitely not off it

[Iranus]

The discussion is actually getting bitcoin without actually using fiat as others do not think something like that is possible and I say that such thing is possible but it’s not rampant or not too common because the choice is still limited, example is offering services to earn bitcoin like selling and buying goods or rendering any services and then the payment method is bitcoin you earn bitcoin without using Fiat to buy it, another method is through mining, this choices are limited but definitely not off it

Although there are still some way to own Bitcoin without using fiat to buy it directly, as you mentioned. However, at the end of the day, whether you mine Bitcoin, accept it as payment, or receive it from any other source...all of those are still tied to fiat and their value is measured in fiat.

You need fiat to own mining equipment, pay electricity bill, buy goods and build a business before you can offer services or receive payment in Bitcoin. As you can see, before you can own Bitcoin without using fiat to buy it directly, you still need fiat to get started.

Fiat is the primary unit of account in the economy, so being independent from it is impossible.

[Luzin]

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.

Yes, but currently it is not recognized for legal transactions worldwide. Just look at how Iran uses BTC for insurance in the Strait of Hormuz. Iran is under strong pressure from the US, which has frozen their fiat money. This is one real example of how Bitcoin works. If they agree and understand the risks, it can become an exchange tool. But so far, it is beyond the control of the world economy. Hoping for Bitcoin to be accepted as a currency more quickly seems impossible.

[Rebirth01]

Bitcoin cannot be alternative to fiat, fiat is fiat Bitcoin is Bitcoin. You need fiat to buy Bitcoin, agreed that you can min Bitcoin but you need fiat to buy data, buy phone or any other gadget you chose to use. Even when you earn Bitcoin you need to convert it to fiat before using it. Yes fiat is controlled by the government and government institutions but do you think government will not find it's way into controlling Bitcoin?

[Ishicryptic]

Fiat are traditional currencies which are controlled by central banks while Bitcoin is decentralized and cannot be controlled by any single entity and that is their major difference, each functions independently without the other. You don't necessarily need fiat to buy Bitcoin, you can exchange another cryptocurrency to buy Bitcoin, I know that a lot of crypto holders have stablecoins and the widely accepted ones like USDT and USDC can be used to buy Bitcoin. Bitcoin survival and to buy it doesn't solely depend on Fiat, cryptocurrency in general have gone beyond relying on fiat to buy them, although I can agree that initially you need fiat to buy your first cryptocurrency unless it is gifted to you or you earned it.

[fuguebtc]

Bitcoin cannot be alternative to fiat, fiat is fiat Bitcoin is Bitcoin. You need fiat to buy Bitcoin, agreed that you can min Bitcoin but you need fiat to buy data, buy phone or any other gadget you chose to use. Even when you earn Bitcoin you need to convert it to fiat because using it. Yes fiat is controlled by the government and government institutions but do you think government will not find it's way into controlling Bitcoin?

There was a time when many people believed bitcoin would compete with, and eventually replace fiat and the traditional financial system. But over time, most of them realize and gradually accept the reality that it was never anything more than a dream. It would never happen in the real world

Moreover, there is a paradox, those who once claimed Bitcoin would replace fiat are still using and relying on fiat in their daily lives.  Bitcoin will never be able to replace fiat.


As for whether the government will try to control Bitcoin, I do not think they intend to because it would not benefit them in any way.

[dezoel]

This is true, fiat is not something bitcoin can replace, people go happy about bitcoin sometimes too much and say that we are growing so much that everyone in the world one day will use bitcoin and not fiat. But that is not going to happen and governments will not allow that neither.

Fiat and bitcoin work together in tandem and it is great for all of us that it works like that because this means that we get to do this very well without much problems. That is what we should be considering.

[Reatim]

Fiat and Bitcoin are two different things working together but one tend have more value in recent time than the other .

you also have to remember that bitcoin s decentralized while fiat can literally be controlled. fiat can be printed more or less depending on what is needed. both are valuable in different ways.

Both will work together for the betterment of the people.

bitcoin can’t replace fiat at least for now but no matter what you prefer, both has to coexist together in today’s time

[Marvelockg]

Fiat and Bitcoin are two different things working together but one tend have more value in recent time than the other.

Fiat and bitcoin are not the same thing and in terms of use form, fiat can still exist independent of bitcoin bitcoin. There are a lot of persons that are earning Thier bitcoin without ever buying it with fiat and if such a person chooses to transact his bitcoin with other bitcoin holders, he's successfully boycotted anything that's associated with fiat. Same way fiat serves as a medium of exchange, bitcoin even serves in greater capacity because with bitcoin, the way you tend to use It as a medium of exchange goes beyond local form of exchange and goes on to international exchange medium.

From it inception, it was never created to be a replacement of the fiat but in itself, bitcoin has the capacity to exist independent of the fiat and though such possibility depends highly on the degree of adoption.