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.
You can say it is dependent today in fiat currency because majority of retail stores are still relying in fiat currency. Fiat value is only use to identify the value of Bitcoin today but it is totally dependent in terms of appreciation and depreciation of its value.