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?
Fiat is actually the backbone of the crypto world. The value of any cryptocurrency can be obtained by comparing it with fiat money. You cannot rule out the importance of fiat currencies in the crypto market. In fact, it is practically impossible for bitcoin to exit without fiat