Topic: Btc vs dollars - page 3. (Read 837 times)

Bitcoin is best one of the coin. Dollars now price increase slowly. But bitcoin price will be increased. This different of bitcoin and dollars. Bitcoin any where to use and easy exchange. Dollars also easy exchange. But bitcoin king of every one.

  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.

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.

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.

Dollars are backed in that sense but I do rate natural effects over the force of politics or armies and so on.   No doubt Dollar has backing (and many liabilities) or it'd not be current, the reasoning that USA is a global superpower is a large part of why Dollar is the global reserve currency.   But soldiers, the armies and equipment to arm them actively costs a massive burden to bear.  [this year its projected interest on debt outweighs the entire defense budget think I heard]

 Prior to Dollar it was Sterling as the most widely held by central banks of every country Im told and by no coincidence at that time the largest empire and trading exchange of goods was all done in Sterling the dominant currency at that time.  They both started off backed by gold and ended up as a much weaker standard.  Dollar will defeat itself is how I'd phrase it, I'm not expecting it to be a military thing.  Either they default on the debt or they honor the debt but destroy the currency either at that time or fairly soon after, thats what I expect.


  I cant see what takes over that standard, I dont agree especially BTC is set to take over from Dollar or gold or another nation;  SDR is the standard set by IMF as alternative to Dollar some would answer it will replace Dollar
https://en.wikipedia.org/wiki/Special_drawing_rights

CBDC I havent read about https://www.imf.org/en/Topics/fintech/central-bank-digital-currency/virtual-handbook

I would argue that dollars are backed with plenty of guns and soldiers that will take orders and if push comes to shove the dollar

would win over any virtual coin if the people with real power want the dollar to win.

I'd argue everything is superior to Dollars because it has its own use often unique and irreplaceable.  We can be sure Dollars will be replaced, will turn back to the cotton worth they were made out of with no numerical special worth placed on them.
   The reason we judge BTC in dollars is not for the notes of promise as if thats worth more but the governments that back Dollar, it is the global reserve currency until people decide differently.   I'm pretty sure people and so governments, countries will not hold dollar forever because it will become a burden more then a benefit at some point.  Since there is so much bad debt we can speculate sooner rather then later but people said this twenty years ago would be an event and we only increased debt further since then.

All I know is that when the price of the dollar goes down, the value of bitcoin will go up, and when the price of the dollar goes up in the market, the value of bitcoin will go down. As long as the movements of the two do not coincide, they are always opposed to each other.

Then the dollar is obviously under the control of the government, and Bitcoin is obviously not because it is decentralized. That's why, for 14 years, Bitcoin has not been able to be controlled by any country's government.

In my opinion the two are not tied together or related to each other. The reason is because both have different functions, people use dollars as a means of transaction or as storage of assets, on the other hand people use Bitcoin as a means of investment.
you say the dollar is not backed by any resources? as far as I know, most of the world's transactions currently use dollar.

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.

I agree with you, it would not be easy to transition completely to only using Bitcoin. If it was within my powers I would love a world where Bitcoin is generally accepted but right now that's not the case.
Using BTC to explain the value of Bitcoin doesn't only apply to newbies or those not into crypto-currency but there are many Bitcoin enthusiast who has to check the value of Bitcoin by checking it's dollar worth.

I don't think bitcoin will ever be bound by any fiat currency because as far as I know, the purpose of bitcoin was created to replace existing currencies in the world transparently and there is a limit, correct me if I'm wrong

And what do you exactly mean by standing on its own? Bitcoin is already its own ecosystem with rules that are completely different than what you can find on the fiat currencies printed by governments, if that is not standing on its own then I do not know what it could be, bitcoin like everything else can be priced in whatever terms that you may like, in fact that is one of the advantages of money in general, as it allows you to more easily measure the value of something else and make comparisons among them.

I think you need to understand what you have written so that you yourself will know that it's  not possible. It is only stable coins that can be tired to the us dollar. If you have been in the market for a long time before now, you will understand that there are coins they called "Stable coins" they are pegged to the us dollar.

 They don't appreciate or depreciate just like Bitcoin. That are the coins that can be stable like Bitcoin. If become ever become stable that it will lose it potential and people will no longer use it for investment purposes again which could collapse the entire crypto market.

Everything can be expressed in whatever terms that you desire, it is just that the preferred method to express this so most people understand what we mean is by the use of the US dollar, but you could express the price of bitcoin in terms of euros, gold, lambos or potatoes, and the same is true in reverse, in which we could express everything in terms of bitcoin as well, so I do not really see what your problem is with this since bitcoin is in no way tied to the dollar.

I've been thinking about how Bitcoin is currently tied to dollars. You know, dollars don't have any backing like gold, but Bitcoin comes from a significant energy investment. Maybe it's time for Bitcoin to stand on its own, separate from dollars. What really determines the lasting value of Bitcoin? I've got some ideas on that.

Bitcoin will continue to be tied to fiat currencies for a long time. When I say that, I mean there will be USD/BTC pairings for a very long time, just as there will be CNY/BTC, GBP/BTC & so on. People still use fiat for every day things, get paid in fiat so until that changes we will still see people valuing bitcoin in their national currencies.
1 bitcoin = 1 bitcoin of course but normies don’t think this way. Bitcoin isn’t going to be THE only used global currency so get used to it.

How should we even start by comparing a local traditional fiat currency to bitcoin which is a decentralized digital currency, they are two opposite things which their lines cannot cross or meet, i believe that some people who are not interested in knowing about bitcoin will still prefer using fiat than bitcoin because of their kind of mindset and orientation they had about bitcoin, but for the benefit of those that have adopted bitcoin already, they understand well what they stand to enjoy from bitcoin when using it for their daily financial and economic use.

BTC vs dollar I will choose BTC. Because if you want to savings then you can hold your earning in BTC. If you do proper analysis and invest in right time then you invesment dollar will increase. The predictor predict that 1 BTC = 1 BTC . I always choose to a hold dollars in BTC because the money I hold it increase after investment if you hold it for a long time then you will get double profit of your investment amount.

Bitcoin is an independent currency. Here you can often see the formulation that 1BTC=1BTC and I absolutely agree with this.

The value in dollars is some abstract concept, only for those who sell and buy a bitcoin as an asset, like a security. That is, a speculative instrument. But if you use it as a currency, then all this valuation in dollars immediately disappears. Remember that story about buying two pizzas for 10.000BTC. Dollars didn't used there at all and bicoin were used as currency, that is, electronic money. It had its own denomination.

Or convert into 2 pizzas. It all depends on how you negotiate with the other person.
Can exchange bitcoin in various ways. P2P exchange is far from the only one.

This is roughly what I wrote above.

The USD does't have a direct connection with BTC, but it turns out that there is still an indirect connection, if there is already a tradition that next to bitcoin the current exchange rate relative to the dollar is always indicated.