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 is dependent on Insane amounts of Electricity to run it's network,
Electricity that has to be Purchased with the Local FIAT
So your statement is correct:
"
Bitcoin is dependent on fiat currency for it's existence"
No Fiat, No Electricity, No Bitcoin.