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 can exist without dollar and any other fiat since it's independently generated in blockchain and posesses its own value as an almost perfect means of payment.
We compare BTC to USD just because we need to have an idea of how important btc is in a particular moment of time, but that relationship doesn't mean that bitcoin somehow depends on dollar.