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?
All currencies derive their value from supply and demand -- some economists believe there is no intrinsic value to any currency. I believe fiat currencies and cryptocurrencies can coexist, and central banks will likely issue their own cryptocurrencies in the future. While gold is tangible and bitcoin is not, they both share many traits, such as scarcity and divisibility.