Quote from: Newlifebtc on Today at 03:52:41 PM

Quote from: larry_vw_1955 on August 06, 2022, 10:27:25 PM

Quote from: SirLancelot on August 06, 2022, 08:52:31 PM

You are wrong @OP but bitcoin is already based on something that has a value and that is none other than fiat money or local currencies.

Bitcoin is based on fiat? That's a new one for me. I never heard no one say that before. If bitcoin is based on fiat then what's the use of bitcoin? who needs bitcoin if bitcoin is based on fiat? the only way bitcoin could be based on fiat is if satoshi would have made it a stablecoin but he didn't do that so... maybe you need to re-read the thread where people are talking about bitcoin being based on people's trust and belief in it as being "valuable" for whatever reason.

I will disagree that bitcoin is not based on Fiat because she had currency is different from cryptocurrency when you are looking at the domination of two of them you will see that Fiat currency is centralised currency why bitcoin is a decentralized currency sobo so don't have anything to do in common so therefore I believe that both of them function differently but they're all added via currency which whatever thing you are cheap with a bitcoin we can also achieve it with a Fiat currency

Yes, Bitcoin and fiat are two different currencies. Fiat is regulative while Bitcoin is decentralized. They have different characteristics as well. Fiat is stable while Bitcoin is volatile. The only thing that connects them is when we convert our Bitcoin into fiat when we're withdrawing our funds or purchasing something. Both have different roles and functions but both are important.