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Author Topic: Is bitcoins ever going to get rid of fiat?  (Read 1708 times)
Q7
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March 11, 2015, 02:07:23 PM
 #21

Bitcoin is actually independent of fiat. It doesn't need fiat to survive nor it is reliant in any way to fiat or any currency for that matter. It is us, the user, who have been all these while trying to associate fiat to bitcoin as a means to gauge the value and performance of bitcoin. And definitely we do not need in any way to take over fiat. If you get what I'm trying to say over here.

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DeboraMeeks
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March 11, 2015, 02:21:47 PM
 #22

Bitcoin is actually independent of fiat. It doesn't need fiat to survive nor it is reliant in any way to fiat or any currency for that matter. It is us, the user, who have been all these while trying to associate fiat to bitcoin as a means to gauge the value and performance of bitcoin. And definitely we do not need in any way to take over fiat. If you get what I'm trying to say over here.

True, we want it currently as we need to have a value for it to value it. Wink
The smarter ones will get what I meant.
dothebeats
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March 11, 2015, 03:01:26 PM
 #23

Bitcoin is actually independent of fiat. It doesn't need fiat to survive nor it is reliant in any way to fiat or any currency for that matter. It is us, the user, who have been all these while trying to associate fiat to bitcoin as a means to gauge the value and performance of bitcoin. And definitely we do not need in any way to take over fiat. If you get what I'm trying to say over here.

True, we want it currently as we need to have a value for it to value it. Wink
The smarter ones will get what I meant.

The users are the ones who give value to the coin itself. It is also the same thing for fiat, almost all of the people in the world agree that this papers do have a value that they can use to exchange for goods and services. Why not do the same for bitcoin? After all, 1BTC = 1BTC

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March 11, 2015, 10:34:17 PM
 #24

When the time comes, everything's value, including fiat money, will be measured by bitcoin. People will talk about how much Satoshi a house worth, how much Satoshi a dinner cost etc... And Satoshi will be the universal scientific standard of value, just like meter and kilogram, it is mathematically complete  Cheesy

What is the standard unit of value, this purely depends on the majority of people's consensus. When that consensus is reached among billions of people, then the standard is established. But other standard could also co-exist, just like foot and pound were also used widely

Robert Paulson
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March 11, 2015, 10:57:29 PM
 #25

no fiat currency has ever survived.
it will die with or without bitcoin, because human nature is such that if someone has the capability to print money eventually they will, and they will hyperinflate it.
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