Btc vs dollars - page 4. | Bitcointalksearch.org

AprilioMP

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Quote from: Vickky Rae on October 27, 2023, 12:45:17 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..

Linking Bitcoin with fiat currencies such as Dollars, Euros, Pounds, Yuan, Yen, Rupiah only as a trading pair I might not consider wrong. Linking Bitcoin with fiat currency in another perspective may not be appropriate because 1 Bitcoin is still worth 1 Bitcoin, not 1 Bitcoin equals $36,732.27, €34,334.95, £29,913.68, Rp. 575,320,583.

Linking it to the price of fiat currency, the value of Bitcoin will change like the value of fiat currency. Obviously this is contradictory because Bitcoin, from the results of the research that has been carried out, is the best hedge against all fiat currencies in the world.

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Quote from: Vickky Rae on October 27, 2023, 12:45:17 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..

You are misunderstanding the whole concept. Bitcoin is not tied to the dollar or any other currency, the currencies are used just to determine the value of Bitcoin, and one doesn't necessarily have to exchange their Bitcoins for dollars or vice versa. If you use a P2P exchange, you can convert your Bitcoin into any currency, even your local currency, without any problems and you will be able to see the value of Bitcoin in your local currency on that exchange.

So, essentially, Bitcoin stands on its own, it's just that when we need to convert our Bitcoins to cash since Bitcoin isn't yet accepted everywhere, we need to get its value in the currency that we want it, and because the USD is a global currency that is used to determine the value of almost everything that is traded internationally, we often see its value being shown against it, other than that, the USD has no connection with Bitcoin whatsoever.

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Quote from: Vickky Rae on October 27, 2023, 12:45:17 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..

The USD is backed by one of the worlds largest armies.

Bombs jets ships etc.

For now the world is still banking on the USD as the premium money.

Now do I believe the dollar is well managed by the USA government no I don’t

The USA has not made budget in 20 plus years in a row.

Popkon6

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Quote from: Vickky Rae on October 27, 2023, 12:45:17 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 not dependent on anyone, because no fat is associated with money. Bitcoin is a decentralized currency not controlled by any country's government. And no one can know about someone's transaction is the main feature of privacy. Bitcoin is not regulated by any country's government, which is why it is currently the most popular all over the world. In particular, Bitcoin is directly free from government regulation because it is not regulated by any country's government, which makes everyone interested in Bitcoin transactions.

Essential10

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Dollar is the name of currency of more than 20 countries of the world. Now I will calculate the currency of any country as the dollar value of different countries is different. Brunei Dollar, Hong Kong Dollar, Jamaican Dollar, Liberian Dollar, Namibian Dollar, Singapore Dollar etc. These established currencies note the economic importance of countries and rise and fall based on trade transactions as well as supply of their value. Meanwhile, the American dollar is used all over the world and is considered as the main currency in trade. Bitcoin is a volatile currency, even though Bitcoin has an independent, security and regulatory perspective, it is very volatile and volatile. Dollar is a fixed fiat currency, dollar is official currency. Bitcoin is operated independently, not controlled by governments or banks. Bitcoin's value fluctuates against the dollar and can be used to invest. Bitcoin is a medium of supply much like precious metals in that the demand and use of dollars is much higher than Bitcoin. It uses a public ledger, which stores a brief history of all transactions.

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Quote from: Vickky Rae on October 27, 2023, 12:45:17 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..

Maybe you should be the one to understand the concept well in this regard, bitcoin is an independent digital currency and you could get this confirmation from knowing why it's a decentralized currency, so it's left on you to make your choice on what to do with it, USD is not the controller of bitcoin, you can choose dollar or any of your local currency to determine the rate of what bitcoin is, this means not only dollars can be used to quantify the value of bitcoin, it has it dependency on it market supply and demand and the entire network, we only make use of USD because it's the most common whereas any other currency can estimate bitcoin value.

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Quote from: Vickky Rae on October 27, 2023, 12:45:17 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..

As far as I know, bitcoin is not tied to anything including the USD dollar. Bitcoin is independent and supported by the community, the limited number of bitcoins is a valuable value unlike dollars which are always printed carelessly. The price of bitcoin is influenced by market supply and demand, no single entity can control or freeze the bitcoin assets that we store in our own wallets.

Quote from: Vickky Rae on October 27, 2023, 12:45:17 PM

I have some ideas..

What kind of idea do you mean? I'm curious about your ideas

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Quote from: Gozie51 on October 27, 2023, 12:55:43 PM

Quote from: Vickky Rae on October 27, 2023, 12:45:17 PM

What could decide the durability and value of bitcoin? I have some ideas..

So what are your ideas?

Meanwhile, nobody can tie bitcoin to any fiat currency. Bitcoin is independent from any government regulation as it is decentralized visual currency that is deflationary and halving occuring every 4 years keeps it demand more valuable.

Bitcoin has a limited supply of 21 million bitcoin that can be mined,while the US dollar has an unlimited supply, with new dollars being printed as needed.

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Quote from: Vickky Rae on October 27, 2023, 12:45:17 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 and Dollar are two different things.Dollar is a currency that is controlled by US government and in this way US government holds the power to control economy of World because most countries are depending on Dollar value and Dollar value is very good and it's value will go up in future and in past years , Dollar growed a lot but Cryptocurrency is a software that is not catched physically by any person.Bitcoin is famous crypto currency and if any person wants to grow his wealth by investing in Bitcoin,this time is best to invest in Bitcoin because market is crashed and market will grow up in future and it's price will go up to 70 k Dollars.The person who will hold Bitcoin this ,he will get a huge amount of profit in future and his life will change and he has to do no work in future.

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Quote from: Vickky Rae on October 27, 2023, 12:45:17 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..

What you need to know is that BTC has nothing to do with any fiat, in fact BTC was born with the idea of an alternative currency to respond to anxiety about the recession and debt that occurred in the dollar at that time. With the hope that bitcoin will create an alternative financial system that is resilient to socio-economic changes and geopolitical conflicts. Bitcoin is decentralized and cannot be controlled. Bitcoin is built through a decentralized network. This is very different from the dollar, so there is absolutely no connection.

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Quote from: bitgolden on October 30, 2023, 03:08:20 PM

I would say it would make sense to tie the "price" of it to dollars, because you need to understand somehow how much you need to pay to get it, but aside from that I agree. There is no situation we can just make it work without having any type of connection to dollar in the value terms otherwise we wouldn't know how much we need to pay.

If you want to go and buy some bitcoins, how would you pay to get it if we do not have it in it's dollar value as well? We are going to give gold instead? Or something else? Dollar valuation is the best one we have so far, I am saying dollars but that was the given example, I could say any other fiat too, there are many nations where they have local exchanges which you can turn from their fiat to bitcoin as well.

Yeah, you got my point. Except for valuing what Bitcoin worth there's nothing there for us to tie Bitcoin to dollar. For a better understanding of how much we are getting after paying what amount is the reason we chose to value Bitcoin based on dollar. Other than that, what else can it do?

There are no exact amounts of Bitcoin for products. And as the market is volatile even if we choose a standard value then it will fluctuate with price change. Only because of this reason, we need to tie the price of Bitcoin with dollar. But if there's a standard value for every product that is determined by Bitcoin then we will never need dollar to be involved. But the price volatility places a challenge, a difficult one and that's why we determine Bitcoin's value by dollar. Other than that, Bitcoin is on its own and Bitcoin is Bitcoin.

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Quote from: Mauser on October 28, 2023, 03:13:07 AM

Quote from: Vickky Rae on October 27, 2023, 12:45:17 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 not directly tied to the US Dollar, it's just the most common pair currency being traded. If the two were tied together than you could exchange a fixed dollar amount for Bitcoin and the price wouldn't fluctuate so heavily. You can also trade bitcoin against any other currency. For example the Bitcoin/Euro market is also common and you can even find people willing to sell physical goods directly for Bitcoin. So, if you don't like the US Dollar and don't really own or use them yourself than just look at other currencies. And if you already have a lot of money in Dollars and you don't want more than just convert them into other cryptos or invest outside of the USA. The world is so connected these days that we can choose our exposure freely.

Yes it won't be possible because both are not the same currencies but other than what you have said, US dollar is the most popular currency and I think it used as a global reserve currency. But other currency pairings have also existed now in the crypto market and we can always go for them if we are more familiar with them. BTC is now popular and some countries already made it a legal tender but even if you're not among those countries, it's still possible to use your BTC to acquire another goods whether it is physical or digital. I don't think investing on many types of assets inside the USA is illegal, so there is no need for us to go outside the country only to do it.

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Quote from: tjtonmoy on October 28, 2023, 10:37:30 AM

Quote from: Vickky Rae on October 27, 2023, 12:45:17 PM

Presently, should we say it's good the way bitcoin its been tied to dollars?

No, it's never a good thing. Decentralized things should never rely on centralized things. It loses the value of being decentralized. Bitcoin is decentralized and you can't tie it to Dollar. Because it is centralized. We just use the value of the dollar to measure the value of Bitcoin. If you determine its value with other stuff then it will become harder to calculate. The dollar is well known and everyone knows the value of it. So it is easy to use it as a way to calculate. You can find out your gains or losses easily.

Imagine doing the same thing with Tk. Do you know what is Tk? That's my point. Even if you know, there will be many who won't know about it. 1 Bitcoin = 1 Bitcoin. That's it. Many will argue that if the price falls down to 0, then there will be no one to use Bitcoin. But what if Bitcoin breaks the tie and becomes a currency that is accepted without comparing it with the Dollar? Imagine the possibilities. It will stay the same throughout the world. We won't have to calculate this and that to determine value of something. It will be universal. One currency for the whole world.

I would say it would make sense to tie the "price" of it to dollars, because you need to understand somehow how much you need to pay to get it, but aside from that I agree. There is no situation we can just make it work without having any type of connection to dollar in the value terms otherwise we wouldn't know how much we need to pay.

If you want to go and buy some bitcoins, how would you pay to get it if we do not have it in it's dollar value as well? We are going to give gold instead? Or something else? Dollar valuation is the best one we have so far, I am saying dollars but that was the given example, I could say any other fiat too, there are many nations where they have local exchanges which you can turn from their fiat to bitcoin as well.

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Quote from: Vickky Rae on October 27, 2023, 12:45:17 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..

Most big assets if not all are most times tide to dollar. If you are having problem of it been tide to dollar why not make a suggestion for example, maybe since bitcoin is one of the sort wonders of the world asset, tighing bitcoin to another asset that is fully backed will do good.

There is no way bitcoin can exist without the dollar, is there an asset that is originally backed by another asset that you think it's a good enough? You want gold? What determines the price of gold, isn't it same dollar? You want to tide to s&p500 and Nasdaq? What backed this asset? What about treasury bills? They are all backed by the same currency you are trying to avoid.

I don't really see a problem here, 1btc is equal to 1btc, even if dollar should fall, bitcoin can inherently stand on it own and be use as measure of values, that's why we have sats as the smallest divisible of bitcoin. Just imagine if 1 sats can be use to buy a pasta in the store, isn't that cool? Yea I think it's.

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Quote from: Vickky Rae on October 27, 2023, 12:45:17 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?

What is certain is that Bitcoin does not depend on dollars or any money, friends. You misjudged Bitcoin, you should learn more about the history of Bitcoin and what was Bitcoin created for? Dollar is full of manipulation.

By the way, the reason why Bitcoin fluctuates is its small market capitalization and unstable regulations, once the market capitalization exceeds 10 Trillion dollars and the attacks on Bitcoin stop it will become very stable, otherwise all Fiat currencies are unstable every year between 10 to 20 % of value is lost, a currency that is volatile and gains value is better than a currency that loses value.

Quote

I have some ideas..

What ideas do you want to offer? everyone is waiting

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Are you referring to the BTC/USD price pair in relation to the dollar?
Bitcoin is not associated with any entity and bitcoin moves because of demand and supply, so it can be called energy because the price can jump anytime so bitcoin remains bitcoin while what is associated is only in trading that we already know in all exchanges.

The dollar is only supported by the government, banks and other entities so that it becomes their value against the dollar, still they have no source that backs the dollar but the government can print dollars at any time because of their trust in the people.

One more thing I want to know your idea. Of course we are waiting. Cheesy

DrBeer

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Quote from: Vickky Rae on October 27, 2023, 12:45:17 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..

Wrong assumptions in the beginning lead to wrong perceptions and answers.
The dollar is precisely backed
- the largest economy
- the world's key technologies.
- status as the world's main currency
- strongest policy
- strongest military
- ....

Bitcoin's "collateral" is asics and burned terra-watts of electricity, which in the end generated nothing real....

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Quote from: EarnOnVictor on October 28, 2023, 05:45:55 AM

I am patiently waiting for your idea, maybe you will be another Satoshi this time.

Come on

. The OP appears on the forum in moments of inspiration for some ideas but never voices them. Look at the history of posts; every six months he is concerned about some questions, after which, apparently having received an answer, he disappears without a trace.

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Quote from: Vickky Rae on October 27, 2023, 12:45:17 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..

Do you mean that Bitcoin is tied to the dollar because the FED's decisions affect Bitcoin? Or is it wrong to think that Bitcoin is tied to the dollar, and there is no link between bitcoin and the dollar. The Bitcoin ecosystem is a completely decentralized monetary system. However, an increase in demand for cryptocurrencies based on the circulating supply of the dollar affects Bitcoin.
Bitcoin doesn't depend on anything but of course there are some factors that determine its price. Supply and demand is the most fundamental factor and political developments, technological developments, fomo and fud situations cause Bitcoin's volatility to be high. This doesn't mean that Bitcoin is tied to the dollar, it's just affected by it. In order to understand the message and philosophy of Bitcoin, it is a mistake to equate Bitcoin with the dollar.

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Quote from: stompix on October 28, 2023, 09:55:20 AM

Quote from: Despairo on October 28, 2023, 04:58:36 AM

It's why 1 BTC = 1 BTC, not 1 BTC = $34,000 or anything else.

If 1 BTC = 1 BTC, then I assume you're not hoping for anything from an ETF or the halving as even with those 1 BTC =1 BTC!
Actually, if you don't care about the value at all, what are your expectations from BTC ? Grin

Let's drop the act, 1BTC=1BTC only when we're in a bear market, when it's bull season is only $$$$$$$$ from dawn till dusk and all night long!
Assuming Bitcoin drops to 1000$, but since the price in $ is irrelevant, you will still think 0.03 BTC a month is good for a wage, right?

As funny as it sounds, it is true. The idea of 1 BTC = 1 BTC is always like a statement of comfort when we are in the bear market. But whenever we are in bulk market, you will begin to hear statements like, "are you aware that 1 BTC is snow equal to $70k?
It is true that bitcoin stands alone but it still needs something to measure it's value against and dollars is the more unified fiat to do that. Maybe if there is a need not to pair bitcoin and dollar, we could measure bitcoin with Gold.

Quote from: Findingnemo on October 27, 2023, 01:51:25 PM

The actual value of bitcoin lies on the demand and supply, just like gold and every other real asset whereas fiat doesn't hold any value but just a promise from your central banks that this paper holds the promised value.

What value are you talking about? I can even say that fiat holds more value than bitcoin because it is a legal tender and it is also tangible. It is a national identity. Gold is a real asset and not bitcoin. We are here for bitcoin because it is volatile and decentralized.

Topic: Btc vs dollars - page 4. (Read 860 times)