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Author Topic: Will bitcoin ever stop depending on fiat currency?  (Read 512 times)

Moonlight

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  • Re: Will bitcoin ever stop depending on fiat currency?
    « Reply #15 on: March 15, 2019, 01:58:54 PM »
    bitcoin and fiat will coexist because bitcoin can be owned if it has fiat, but if bitcoin is likened to fiat at the end I guess that is not possible.
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    Re: Will bitcoin ever stop depending on fiat currency?
    « Reply #16 on: March 15, 2019, 09:36:49 PM »
    If everyone in the world gets into crypto and cryptocurrency will become an official global currency, do you think bitcoin then will stop depending on fiat currency? Or will it just co-exist with fiat?

    First and foremost, understand that bitcoin is not here to eradicate fiat
    Bitcoin is here to simply support fiat currency and enhance faster transactions across several counties

    Both bitcoin and fiat currency will co exist to make the payment system of the world a lot better

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    Re: Will bitcoin ever stop depending on fiat currency?
    « Reply #17 on: March 15, 2019, 10:58:04 PM »
    Everyone should have their own opinion about this but for me, bitcoin will only co-exist with fiat in the future. Fiat is irreplaceable, it is needed by all people yet its effectiveness and simplicity to use without internet. Bitcoin has a weak side, it needs network/internet to do.

    hope167

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    Re: Will bitcoin ever stop depending on fiat currency?
    « Reply #18 on: March 16, 2019, 04:38:35 AM »
    i think it is hard to reach it, if everyone move to use ALT and bitcoin, bitcoin and alt can depend on the fiat currency, up to know bitcoin, alt coin and fiat can separate
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    Re: Will bitcoin ever stop depending on fiat currency?
    « Reply #19 on: March 16, 2019, 11:42:48 AM »
    As long as the majority of the economy we live in is doing business bitcoin will depend on US Dollar or Euro or whatever fiat currency you do your groceries in. If the mass adoption of cryptocurrency will happen than maybe it will replace fiat currency.
             
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    Johdw

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    Re: Will bitcoin ever stop depending on fiat currency?
    « Reply #20 on: March 16, 2019, 01:45:00 PM »
    Why should Bitcoin should stop depending on fiat? Even the forex or gold they still use fiat as a currency to determine their value

    Barb

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    Re: Will bitcoin ever stop depending on fiat currency?
    « Reply #21 on: March 16, 2019, 02:06:52 PM »
    If everyone in the world gets into crypto and cryptocurrency will become an official global currency, do you think bitcoin then will stop depending on fiat currency? Or will it just co-exist with fiat?
    We still need something stable to convert Bitcoin price and other altcoins to that, currently we’re using fiat but perhaps in the future we all can have a digital global currency that can replace fiat

    Redix

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    Re: Will bitcoin ever stop depending on fiat currency?
    « Reply #22 on: March 17, 2019, 11:45:17 PM »
    If all people do that thing, it probably occurs.
    However, one thing to remember, we talk about world societies in which there is a big difference among countries. Many societies don't touch this high technology because of their culture, knowledge, and also availability. That is why this condition will be very difficult to occur worldwide.

     

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    Pelanavreo

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    Re: Will bitcoin ever stop depending on fiat currency?
    « Reply #23 on: March 18, 2019, 03:03:07 AM »
    Bitcoin and fiat have similarities which can be used for payment systems.
    I think Bitcoin can be a digital currency without relying on fiat but all countries need to recognize the transaction system using this virtual currency.

    Bintang

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    Re: Will bitcoin ever stop depending on fiat currency?
    « Reply #24 on: March 18, 2019, 03:35:35 PM »
    I am sure that this will never happen, since many countries will always be against cryptocurrency and will never be approved, but it will occupy an important place in many other countries in the future.
    In my opinion, a country that does not agree is a country that is outdated, or has missed progress in terms of technology, I am not sure if we will use paper money forever.

    m3ndshok3r

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    Re: Will bitcoin ever stop depending on fiat currency?
    « Reply #25 on: March 18, 2019, 03:39:08 PM »
    Yes, it can and already it is showing signs. Just look at the platforms that use only crypto like PrimeXBT/Bitmex etc... We use dollar valuation because we are used to measure everything in dollars, but we can measure it in bitcoin without any problems even now. With time you will adjust and will better know how much value does one bitcoin has.

    Dandylion

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    Re: Will bitcoin ever stop depending on fiat currency?
    « Reply #26 on: March 19, 2019, 09:50:26 AM »
    I think that one of the main goals of cryptocurrency is to replace fiat currencies. But fiat money itself is by its definition a currency without cover in valuable resources other than government word (if we could call it as a "resource") - something similar we could say about crypto, which are covered only in tech behind it. Global economy would collapse without nations and countries, and they won't exist without money - fiat, or equivalent, but with a similar functions. So, even if crypto will overtake fiat, we will be really close to the conception of this kind of money.
    And back to the question, I think this is already happening. There are more and more places where you can pay with cryptocurrencies. Some coins are aiming to become universal way of payment in their very basic idea, and now you can even get yourself a VISA crypto debit card if you want to - i know that coindeal has this in their offer, but i haven't tried it yet (they say you can use it anywhere you want, using paypass - https://coindeal.com/card/)
    « Last Edit: March 04, 2020, 01:30:52 PM by Dandylion »

    Lore

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    Re: Will bitcoin ever stop depending on fiat currency?
    « Reply #27 on: March 19, 2019, 12:14:23 PM »
    I believe it can co exist but never replace it, at least so far.

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    Re: Will bitcoin ever stop depending on fiat currency?
    « Reply #28 on: March 19, 2019, 01:43:57 PM »
    As long as people keep care only about how much $ they have then that will never gonna happen, back in early 2017 I remember most people were measuring their profit with how much BTC they made and sadly this is not the case now, at the moment what really matters to most of the holders is how much their profit or lost in $, I think this is caused by the outsiders that entered the Crypto space for profit only.

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    Re: Will bitcoin ever stop depending on fiat currency?
    « Reply #29 on: March 25, 2019, 08:58:45 PM »
    if one day there is a market to states the valuation of every product to btc, such as replacing btc:usd with btc:tacos, then maybe.
    otherwise, transaction will always needs a universal intermediary of btc : fiat
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