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.
It is true that bitcoin is independent because it has a decentralized nature and it does not rely heavily in paper money. Bitcoin relies in investments made by people, and because of this, it also heavily relies in people. We users are the barometer of how the market will fluctuate because we are what makes the market. Bitcoin is independent and that is why people love this, because the government do not control any of the transactions that were being made.