Bitcoin was created to provide independence from Government control to the users. But I think it is not so independent.
It depends on fiat currency especially the Dollar for it's valuation.
My question is ; we are measuring it's value in dollars. So is not it true that Bitcoin is dependent on fiat currency for it's existence?
Please share whatever views you are having.
Kindly correct me if I am wrong.
Bitcoin does not depend on anything except the internet through which the transactions will go on but we can say it indirectly depends on flat currency because many people do not know the value of Bitcoins so just to make them understand the value of Bitcoins we need to compare the value of Bitcoins with the value of flat currency so we can say that Bitcoin depends in directly on the flat currencies