Bitcoins Us dollar evaluation might crush globally once euro replaces US dollar

Bitcoinqubit

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Quote from: jake zyrus on July 03, 2019, 04:45:14 AM

First of all, I don't think that the US government will let that happen. But if euro will continue to kick hard, let's not disregard the possibility that it might replace usd. But I still think it would take a lot of time before it happens. And if it happens, I don't think it would really affect bitcoin

when you say : I don't think that the US government will let that happen.

do you know what you say in deep....there is inifinty supply of dollars which mean the value of the dollar will go down with time and the price in supermarkets ,cars,houses and other things go up only.. its like to fuel car with hole....ask any smart economist everything is depend on the max supply, if there is to much supply or infinity supply the price only will go down and while it go down the price of clothes,cars,houses and other go up which lead to bad place....

the governments print huge amount of money but hey there is another problem
smart criminals know to fake any paper money ONE ON ONE and basically make money from thin AIR...

do you know how much money faked by smart criminals on a daily basis only inside the usa,,, hell you will fall, and they fake it one on one ...

Bitcoinqubit

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Quote from: KingScorpio on June 27, 2019, 12:26:44 PM

trend is unstoppable that euro will replace us dollar as no one will trust us dollar in the long term anymore

brits and americans are destroying their currencies.

once they have crushed and whole world starts thinking in euro and potentially yuan.

usdollar evaluation of bitcoin will be decreased massively as us dollar wont be easily changable with euros, which then will be the worlds lead currency.

plus.

americans will dump their currency once they started electing socialists and leftists.

the eurodominance is also a change in political climate globally.

regards

ironically if the usd crash all of them go down every smart economist know this....

euro will not replace usd it will crash with the usd....

it will happen there is just little bit friction to scale this kind of tech until business adopt it and people get to used to it ....compare to peer to peer file sharing which scale very fast because there are almost no friction,,,but crypto will eat the entire system like peer to peer technology

spacehopper

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Quote from: KingScorpio on June 27, 2019, 12:26:44 PM

trend is unstoppable that euro will replace us dollar as no one will trust us dollar in the long term anymore

brits and americans are destroying their currencies.

once they have crushed and whole world starts thinking in euro and potentially yuan.

usdollar evaluation of bitcoin will be decreased massively as us dollar wont be easily changable with euros, which then will be the worlds lead currency.

plus.

americans will dump their currency once they started electing socialists and leftists.

the eurodominance is also a change in political climate globally.

regards

All thing happening because the American trade war.China,Russia and all other countries and victim of this trade war.After election USD got strong day by day.America 1st theme went all over the america and most of companies move back to US.Jobs for americans and America got strong because of the trade decisions.Other countries pay the prize unwillingly.So they needed the alternative.So they moved to EURO and Gold. That is the reason EURO got demand.

helenfast69

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Quote from: LeGaulois on June 27, 2019, 01:28:12 PM

Well, destroying USD was the plan when creating EUR.
EUR is taking about 2% yearly from the market, but at this rate, we need again maybe 20 years to get USD replaced. Unless something geo-politic happens, like US vs IRAN for example...

Euro was supposed to oust the dollar only in the territories of the EU countries. But it is not necessary to completely remove it, and it is possible to give people more options. I do not think that it will be possible to simply remove the dollar in the coming years, it is too old and popular currency to just replace it. Moreover, I do not see the big problems of their coexistence.

ratonoklo

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I doubt that Euro will replace US dollar as the world reserve currency. Instead, Bitcoin might be the replacement. Although the US has been heaping up too much debt without paying, an analyst once postulated that the US dollars is technically backed by crude oil. Let's see how the economic war swing. I expect bitcoin and other currencies as ripple and credits to rise the more to meet the trade war.

Nivia1st

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Quote from: kryptqnick on June 27, 2019, 01:40:33 PM

Quote from: KingScorpio on June 27, 2019, 12:26:44 PM

trend is unstoppable that euro will replace us dollar as no one will trust us dollar in the long term anymore

brits and americans are destroying their currencies.

once they have crushed and whole world starts thinking in euro and potentially yuan.

usdollar evaluation of bitcoin will be decreased massively as us dollar wont be easily changable with euros, which then will be the worlds lead currency.

plus.

americans will dump their currency once they started electing socialists and leftists.

the eurodominance is also a change in political climate globally.

regards

Firstly, even if this happened, there wouldn't be much of a difference for the crypto market. It's just one stable powerful fiat being replaced by another one. Secondly, I don't think this is going to happen. I believe that fiat will soon crash and be abandoned for something else, like cryptocurrencies. Europe is not living through its best times. Right-wing populists are EU-sceptics, trying to ruin it from within. Moreover, it seems that Europe is short on money since they decided to opt for Russian fees over justice just recently in PACE. The world's economy is barely holding it, IMO, and no matter how bad things seem with the US, I believe that the things in the EU are worse.

if seen indeed what you say is true. crypto will not be affected by the global economy. and it's difficult for the USD to be replaced, even though it can eventually be replaced by EUR, I'm sure bitcoin will still survive.

Dondont

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Quote from: KingScorpio on June 27, 2019, 12:26:44 PM

trend is unstoppable that euro will replace us dollar as no one will trust us dollar in the long term anymore

brits and americans are destroying their currencies.

once they have crushed and whole world starts thinking in euro and potentially yuan.

usdollar evaluation of bitcoin will be decreased massively as us dollar wont be easily changable with euros, which then will be the worlds lead currency.

plus.

americans will dump their currency once they started electing socialists and leftists.

the eurodominance is also a change in political climate globally.

regards

I think this is also due to ICO, STO, or IEO that use the USD pair as one of the currencies that can be used for deposits. After all, a coin offering is rare which requires even banning users from the USA who might be one of the causes of declining performance

7788bitcoin

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Quote from: KingScorpio on June 27, 2019, 12:26:44 PM

trend is unstoppable that euro will replace us dollar as no one will trust us dollar in the long term anymore
once they have crushed and whole world starts thinking in euro and potentially yuan.

To have a situation like you dream, the Chinese government has the potential to overthrow the US dollar as the global currency because they hold trillions of dollars worth of treasury bonds and only a mad man will initiate that sell off, basically it is a highly unlikely situation in the near future, that being said Euro is not the only reserve currency Tongue

. Not sure what Yuan is but if you are talking about Yen it is the third most used reserve currency.

jake zyrus

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First of all, I don't think that the US government will let that happen. But if euro will continue to kick hard, let's not disregard the possibility that it might replace usd. But I still think it would take a lot of time before it happens. And if it happens, I don't think it would really affect bitcoin

Lucius

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I do not think it will happen so soon that the euro will replace US dollar as a global currency, maybe in next 20-30 years from now, provided that the EU does not fail until then. USA is too strong, and I doubt they will lose power just like that, and with Brexit EU it just became even weaker than before. Not only do I think it is weak in some economic sense, but and in the sense of defending its borders from danger from the east.

All countries on the east EU border ask help from USA, which is funny since they should ask help from Brussels or Berlin, but they show how powerful EU is when Putin is picking which part of Ukraine he will take. Some say EU is so military weak that Russia can knock on Berlin's door (like in 1945) before any more serious resistance comes up.

Regardless of some data and speculations, EU is too weak to impose Euro in front of US $, and eurozone is a very fragile creature - just remember the Greek crisis.

Kakmakr

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I doubt that the US and the UK would ever allow that to happen. You underestimate the political power that these countries have and the military power backing them. Do you still remember the weak links in the last near global economic collapse? PIGS (Portugal, Ireland, Greece, and Spain) including Italy. Roll Eyes

The Eurozone has only survived due to massive government bailouts in the past and this is still a massive pressure cooker that might still explode in the future. Huh

avikz

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Quote from: KingScorpio on June 27, 2019, 12:26:44 PM

trend is unstoppable that euro will replace us dollar as no one will trust us dollar in the long term anymore

brits and americans are destroying their currencies.

once they have crushed and whole world starts thinking in euro and potentially yuan.

usdollar evaluation of bitcoin will be decreased massively as us dollar wont be easily changable with euros, which then will be the worlds lead currency.

plus.

americans will dump their currency once they started electing socialists and leftists.

the eurodominance is also a change in political climate globally.

regards

The chance of happening it is really grim! I understand that EUR has become a great competition for USD since the day Eurozone decided to come together! I won't say that EUR doesn't have the power to overcome USD, because they really can do that! However, there will be no impact on the cryptos as such! Just the calculation parameter will be replaced while maintaining the same purchasing power! We are now calculating crypto prices on USD now which will just be replaced by EUR.

I think Trump has worsened the situation of USD by starting useless trade war with China. The world will probably would not give into the dominance of US anymore and that gives a great chance to Putin to increase the dominance of Russia with their allies! A lot more surprises will follow!

jseverson

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Quote from: BrewMaster on June 29, 2019, 12:17:24 PM

but if USD tanks the same thing will happen but also since it is a serious matter people will want to run away to assets that provide then security and aren't controlled by the same government that caused the crash. bitcoin becomes a shinning option which means there will be a lot of demand overnight shooting the price to the moon.

Fair assumption, but I would like to point out that we haven't seen this happen in any large scale yet. Even Venezuela's case, which is what most people typically point to, seems to be overblown:

Quote from: https://www.coindesk.com/bitcoin-cant-fix-venezuela-i-should-know

So let me, as someone who used bitcoin to survive in Venezuela, clear up the misconceptions: Bitcoin can’t fix the situation in Venezuela.

There are no official statistics of how many crypto wallets there are in Venezuela. There’s no way to know how many each person owns. What it is very clear is that beyond a couple of businesses that accept this form of payment and a few trusted exchange platforms online, there are no services for crypto users available in the country.

No ATMs. No prepaid debit cards. Just assumptions.

I do expect an uptick in demand, but I'm not so sure about the price to the moon part.

fiulpro

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I don't get how it will be any different for us.

Bitcoins in dollars and Bitcoins in euros will remain same regardless , it doesn't depend upon the dollars to be honest , it has its own price which is globally same in each Currency.
Therefore no matter how up or how down it goes it is going to be same regardless .

The only thing that will change is people checking the today's price or Bitcoin in probably euros but to he honest most already check in their native currencies.

BrewMaster

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Quote from: BitHodler on June 29, 2019, 08:30:06 AM

Quote from: jseverson on June 28, 2019, 01:24:46 AM

Even if we assume that this happened and that the USD value tanks (which isn't necessarily a given), Bitcoin should still trade for the same general fiat value, maybe higher on USD and lower on EUR but still according to the two currency's exchange rate with each other. I don't see it affecting Bitcoin's value in any signifcant way, so why does it matter?

Right. We have seen the same happen when Bitfinex went through severe problems. People celebrated Bitcoin's value against Tether that started pumping, while the USD value didn't move at all.

People completely disregarded how efficient and self regulating this market really is. Bitcoin against Tether only pumped because it lost its peg to the USD negatively, and the same will happen in OPs example.

If anything, if the world reserve currency implodes, the Euro will be next. This will stimulate people to no longer calculate prices in fiat but in satoshi units. It's just a matter of logical thinking.

Also, I would say that in percentages it's much less than 1% of a chance that the USD will implode in the next 5-10 years, while it's more like 10% of a chance that the Euro will implode. It's much weaker and already very shaky.

true but we can't compare the two together. when Tether tanked and bitcoin value against it went up, nobody cared. the real "value" of bitcoin remained the same so it went up against USDT to keep the value same as before.

but if USD tanks the same thing will happen but also since it is a serious matter people will want to run away to assets that provide then security and aren't controlled by the same government that caused the crash. bitcoin becomes a shinning option which means there will be a lot of demand overnight shooting the price to the moon.

pixie85

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Euro is weak because it depends on many small economies. Where there's many members there are different opinions and arguments. Some countries perform better others worse some may even exit the union like GB. Euro will react to each and every small problem within the union.

Now it's gaining value but that won't last forever. There are better and worse years in the life of every company and every asset.

BitHodler

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Quote from: jseverson on June 28, 2019, 01:24:46 AM

Even if we assume that this happened and that the USD value tanks (which isn't necessarily a given), Bitcoin should still trade for the same general fiat value, maybe higher on USD and lower on EUR but still according to the two currency's exchange rate with each other. I don't see it affecting Bitcoin's value in any signifcant way, so why does it matter?

Right. We have seen the same happen when Bitfinex went through severe problems. People celebrated Bitcoin's value against Tether that started pumping, while the USD value didn't move at all.

People completely disregarded how efficient and self regulating this market really is. Bitcoin against Tether only pumped because it lost its peg to the USD negatively, and the same will happen in OPs example.

If anything, if the world reserve currency implodes, the Euro will be next. This will stimulate people to no longer calculate prices in fiat but in satoshi units. It's just a matter of logical thinking.

Also, I would say that in percentages it's much less than 1% of a chance that the USD will implode in the next 5-10 years, while it's more like 10% of a chance that the Euro will implode. It's much weaker and already very shaky.

Pursuer

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your mistake is that you think US dollar is giving value to bitcoin! whereas just like anything else bitcoin has its own value measured only in fiat currencies because that is what we use to measure literary everything else. so if US dollar were to crash, then bitcoin value against US dollar should rise up equal to the amount of the crash.
similarly when bitcoin is worth 1 in dollar and 10 in another fiat currency, if that fiat value tanks and has half its value then bitcoin should be 20 in that other currency. as an example you can look at the fiat currencies that tanked over the past year and how bitcoin went up against each of them.

Juggy777

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Quote from: KingScorpio on June 27, 2019, 12:26:44 PM

trend is unstoppable that euro will replace us dollar as no one will trust us dollar in the long term anymore

brits and americans are destroying their currencies.

once they have crushed and whole world starts thinking in euro and potentially yuan.

usdollar evaluation of bitcoin will be decreased massively as us dollar wont be easily changable with euros, which then will be the worlds lead currency.

plus.

americans will dump their currency once they started electing socialists and leftists.

the eurodominance is also a change in political climate globally.

regards

This is a speculative thought and it won’t happen anytime soon, unless Trump decides to immediately declare war on Iran. Even if the USD is replaced by euros there’s no major difference in the way we trade, at the end of the day both are globally accepted fiat. Also the EU is not strong these days and when Brexit will happen euros prices are bound to crash, don’t you think then people will buy more USD and dump euros.

jseverson

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Even if we assume that this happened and that the USD value tanks (which isn't necessarily a given), Bitcoin should still trade for the same general fiat value, maybe higher on USD and lower on EUR but still according to the two currency's exchange rate with each other. I don't see it affecting Bitcoin's value in any signifcant way, so why does it matter?

Topic: Bitcoins Us dollar evaluation might crush globally once euro replaces US dollar (Read 379 times)