Re: Bitcoin can you stand alone?

Can you stop pricing yourself in fiat?

I would say it is with almost 100% certainty that you cannot.

I'm wondering just how long you will use the fiat banking system as your crutch

Let's be specific here

People don't price Bitcoin in abstract fiat. They price it in dollars, euro, British pounds, Chinese yuan, Russian rubles, and whatever currency might exist out there. What does it tell us? Basically, that this valuation is no more than a useful convention since most of these currencies are independent of each other. As you can see, it proves the point that you can essentially price Bitcoin in anything, which is only a matter of personal preferences and convenience

But are all fiat currencies really independent of each other? The last time I checked most of the countries around the world consider the US Dollar as the reserve currency. Most of those countries hold their reserves in USD and GBP or even Euro. Once that happens a dependency will have to occur. International trade is also one way of making these currencies become dependent with each other, specifically dependency on the US Dollar.

It is international trade exactly that makes countries (not just currencies) depend on each other. And the dependency of currencies is an effect not a cause of that. It could be said that the level of such dependency itself depends on how closely the economies of countries are intertwined. But, first, such dependency is not absolute since in most countries inner market still has a priority over exports, therefore these countries will easily survive if these trade ties are totally severed, for whatever reason. And, second, this dependence is mutual in any case, so it can be safely discarded from consideration in respect to whether Bitcoin depends on fiat...

As you can see, this point doesn't challenge the argument