There are some believes that we might not necessary need fiat currency in trading cryptocurrencies.
My question now is If Fiat is completely irrelevant in the world, and gold do not back crypto, where will cryptocurrency derive it value from?
For me fiat money is relevant to crypto because you cannot buy some altcoins if you not use your fiat money and in order to use the crypto you have to exchange it to fiat currency. Some do not accept the crypto cause they do not believe on it and they also think that it is illegal for me it is not true that crypto is illegal they say that they cannot see the crypto cause it is a digital form of money that is why they do not believe on it. They do not see the positive side of it. They are also afraid of using it. If they just see and understand the crypto then they will start to believe on it.