Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: sirty143 on April 16, 2020, 05:00:42 PM

Title: Bitcoin Depends On Fiat To Exist: Billionaire Investor Mark Cuban
Post by: sirty143 on April 16, 2020, 05:00:42 PM

(https://zycrypto.com/wp-content/uploads/2020/04/Bitcoin-Depends-On-Fiat-To-Exist_-Billionaire-Investor-Mark-Cuban.jpg)

For Cuban, Bitcoin isn’t a good substitute for fiat and instead it’s dependent on it, at least for the time being since it can’t be instantly spent without being converted, which makes it more difficult to use... See more for yourself here (https://zycrypto.com/bitcoin-depends-on-fiat-to-exist-billionaire-investor-mark-cuban/).

Your opinion is greatly appreciated.

Title: Re: Bitcoin Depends On Fiat To Exist: Billionaire Investor Mark Cuban
Post by: Senin on July 16, 2020, 09:07:54 PM

Of course, while bitcoin does not have much liquidity and is not accepted for payment at any point of sale, it will largely depend on the common national currencies of states. Unfortunately, bitcoin is used very little as a means of payment and the emergence of stablecoins, a sharp increase in their capitalization level this year, further reduced the chances of bitcoin being used as a means of payment.
Bitcoin and other decentralized cryptocurrencies can successfully exist only simultaneously with the national currencies of states.

Title: Re: Bitcoin Depends On Fiat To Exist: Billionaire Investor Mark Cuban
Post by: Cryptoz on July 16, 2020, 11:51:19 PM

I don't think so. How Bitcoin depends on Fiat? I don't see any correlation betwen them. Indeed Bitcoin can survive even there is no fiats because fiats basically has no role in Bitcoin improvement or on its existence. If fiats will be gone someday, the Bitcoin maybe replace it already.