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
Bitcoin traded with fiat because people still use fiat to spending their money. Not many merchant in the world accept bitcoin as payment, but if merchant start accepting bitcoin, i am believe people will use bitcoin for their transaction