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.
We all know that bitcoin is decentralized and there is no central power to control it but there are some forces that are manipulating its prices to get profit. The reason why we are trading bitcoin in the dollar is that in the international market all payments are done in dollars or dollar is used as a direct payment method.
that's right, if we have a lot of money we can also control the market easily but must be with a lot of groups to be able to influence the market, and for some reason the news media sources can influence market movements as well.