Why is Bitcoin tied to Fiat? Why is Bitcoin value moving like a stock? satoshi said the value will be derived by the limit of total coins. But we are seeing the opposite. Why dont we mathematically calculate the value of bitcoin according to the amount of bitcoin mined?
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Agreed Value * Bitcoins Mined = New Value
0.0010 * 1 = 0.0010
0.0010 * 2 = 0.0020
I think its happen because dollar is benchmark currency in the world. Peoples in the world trade and convert commodities value with dollar including bitcoin. Beside that, we can not spending bitcoin in any merchant right now and the only way we can spend bitcoin is we selling bitcoin on exchanger and convert it to dollar.