Quote from: dkbit98 on August 31, 2021, 09:50:26 AM

Quote from: Newlifebtc on August 30, 2021, 06:04:07 PM

Since i joined bitcointalk forum i find it difficult to make a post relating to bitcoin, bitcoin is like physical money (fiat), and i want to know the difference between fiat and bitcoin, and without fiat existence can bitcoin have a name?, after thinking all this with seriousness i concluded that bitcoin and fiat works like brothers and sisters and no one can leave each other, so i want to know if any other digital currency can function without fiat?.

Fiat currencies are just a failed experiment in it's final years of existence, and before fiat people used gold, silver and other shiny precious metals that existed just fine alone.
Then some people who think they are smart, decided to steal all gold and precious metal from people and replace it with IOU paper, than they removed gold backing and opened one big can of worms.
It is like the all system created was created for some elite criminals, same way like taxes are becoming higher to the point when even air will be taxed.
Than came Bitcoin, that can function with or without fiat currencies, and I would not consider that as sibling to fiat system.
Some people even did experiments living only from Bitcoin for some time, and they could survive just fine, there are even communities trying to be only crypto and tax-free but it seems that government parasites don't like that

If enough people decides to use only Bitcoin, there is nothing they can do to prevent this - Vires In Numeris.

Inasmuch as I agree with you on certain salient points you have made, I want you to clarify some question which I think will better our understanding of this topic:
1. Without fiat currency, how do you measure the value of Bitcoin?
2. I understand that many crypto enthusiasts are looking forward to mainstream adoption of cryptocurrency. Do you think that when that day comes, countries will jettison their currency complete and adopt Bitcoin?

When you clarify this, I feel we will be getting a clearer understanding of the place of both cryptocurrency and fiat currency.