Quote from: oktana on November 18, 2023, 10:26:17 PM

Quote from: Vickky Rae on October 27, 2023, 05:45:17 PM

Presently, should we say it's good the way bitcoin its been tied to dollars? Dollars is not backed up with any resources but to my understanding, bitcoin is a product of great energy surge. We shouldn't let bitcoin tied to dollars but bitcoin standing on its own. What could decide the durability and value of bitcoin? I have some ideas..

Who said Bitcoin is tied to dollar? Bitcoin is not tied to any currency and it operates fully on its own. We only tend to read the value in dollars since that is a currency that is more relatable to everyone. Dollar is backed by the government though and it works just fine, but the issue with inflation is unstoppable if dealing with dollar or any fiat because the government can print as many as needed, adding to what is already circulating, and hence, the loss in value. But with Bitcoin? It’s never crossing the 21 million total supply margin.

Bitcoin has never been tied up to fiat like the dollar. Because if that's true, Bitcoin won't be decentralized for sure. That's why Bitcoin is not like that; I don't know about other communities here, and I don't understand why Bitcoin is associated with the dollar.

It's very simple: they are not related, but they have a connection with each other because the movement of their respective price values in the market is always opposite.