Quote from: Bitcoin_people on Today at 01:50:28 AM

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..

Bitcoin is a decentralized currency due to which no country's government can control it. But dollar or fiat currency has centralized owner to control it whereas Bitcoin does not. Moreover, Bitcoin has a fixed supply with no human hands and no scope of regulation, making it an independent currency. And for that reason there is no connection between USD and Bitcoin rather Bitcoin is a cryptocurrencies, but USD is a stable currency.

There is a close connection between these two currencies: the value of bitcoin is measured in USD or other currencies. Although 1BTC=1BTC, we cannot deny that bitcoin is not the world's currency and USD is the world's currency, so everything must use USD to measure value, including bitcoin. As long as bitcoin does not become the world's main currency, bitcoin will still depend on USD and people will also use USD when trading bitcoin.