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.
Indirectly Bitcoin is dependent over fiat currency at some extent but not directly because here volatility due to price and economic changes in the fiat value can give change in small percentage .
But if we will analyse it fully then we will found that there in no direct relationship of Bitcoin dependency with Fiat currency .