Will bitcoin ever stop depending on fiat currency?

[bdamenaakter]

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?

[yousufatik]

Bitcoin doesn't actually "depend" on fiat money.It's price and value is measured in fiat money (USD and euro),but that doesn't mean that btc depends on those currencies. Bitcoin depends on the banks and the financial system,because most people, who buy btc for the first time use credit/debit cards.

[tamango]

I think that Bitcoin is not linked to FIAT currency and does not depend on it but real coins and crypto will survive both in the future because even if it's possible that crypto will grow and will be used in everyday life, FIAT won't disappear because Governments need FIAT for their political economics plans.

[carcas]

no one can manage the value of cryptocurrency. not like a currency that has regulations in every country. the increase and decrease in the price of bitcoin is only influenced by the number of enthusiasts who buy bitcoin.

[Ferandil]

Or maybe Bitcoin will become just another fiat? It is possible, becuse governments just want to have control over economy and they could just adapted cryptocurrency for their systems. Some of them are already trying that, like in Ohio (they've announced that will be posible to pay taxes via bitcoin, more info on spam blocked b).

[DogeTalk]

it's not easy for that to happen. the country will not use crypto as a legitimate currency. Crypto's goals are only for investment and convenience in terms of transactions.

[inewoods]

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?

I think co-exist will be a better scenario, if you want crypto to replace fiat totally we will surely see many problems arise and the first that crypto is facing is the government objection due to their interest and we still need fiat to pay for things outside crypto.

[cryptofunn]

Until Bitcoin becomes the main currency, it will always correlate with the Fiat price. With the growth of Bitcoin use, this correlation may decrease.

[Hope15]

I think it's easy to think that crypto will replace fiat in future but it's hard to work into it cause the first place not all places have a high technology or know cryptocurrency so it's hard for the people who don't know cryptocurrency so i guess fiat will remain.

[DeKingCrypto]

I don't think the any time will come when Bitcoin will stop depending on Fiat, unless bitcoin is made official currency whereby any body can use it worldwide.

[khufuking]

Bitcoin and Cryptocurrency as a whole was created and invented with the intention to replace Fiat money or at least to make the use of them at a minimal base, what we are seeing now is not that Bitcoin is depending on Fiat, what we see now is the people who are holding Bitcoin are more interested in making more Fiat than anything else, The moment people will trade with the purpose of acquiring more BTC instead of acquiring more Fiat is the moment Cryptocurrency as a whole will stop depend on Fiat.

[Fenix]

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?

Bitcoin can only coexist with national currencies, it does not depend on them, however, it cannot replace them due to the specifics of digital cryptocurrencies. I also do not think that the cryptocurrency will have more value and wider use than fiat. Cryptocurrency will be used more by citizens and organizations,  that have  own cryptocurrency. States and their bodies are unlikely to make wide use of cryptocurrency, it is very inconvenient for them primarily because of its high volatility.

[Cryptoz]

In my opinion, Bitcoin will always depend on FIAT currency. Bitcoin seems quite hard to be a single global currency, moreover its form is a digital currency. Not all countries will utilize it easily as a digital payment. FIAT will be always the most effective currency for payment instrument.   

[Ahmedalab]

As for me, It's price and value is measured in fiat money (USD and euro),but that doesn't mean that btc depends on those currencies. Bitcoin depends on the banks and the financial system,because most people, who buy btc for the first time use credit/debit cards.

[Nolbertino]

Bitcoin is not dependent on fiat currencies and Bitcoin will continue to grow because many people use cryptocurrencies. If Bitcoin is authorized and coexists with fiat currencies, it will definitely make it easier for people to make buy and sell transactions.