Topic: Btc vs dollars - page 5. (Read 837 times)

These are just every person his thoughts about it, as simple I have a brother who is good at trading and he always does day trading and also in coins like BTC or Ethereum he has been holding it for a long term and he has the ability and the will power to hold coins even for 1 years and more than that if needs. He always says that when the Bitcoin price is up then the dollar price will decrease. But I don't know under which areas he is correct enough on these things and the same things happen too many times.

When I saw the dollar price it was up due to the fall in bitcoin, where bitcoin was about $20k. But how he is managing it, I don't know the reason. Under what circumstances did he have this idea? I had also asked him many times but he didn't tell me yet.

If btc was tied to the dollar it would be worth far less than it is.

Please present more details about the idea you want to propose for everyone to discuss.

Previously, I also agreed with some views that bitcoin is not tied to fiat, but the reality is that we are in a society where fiat is the main tool to connect all types of assets. Given that bitcoin can be easily sold for any fiat as long as the level of liquidity is met, comparing bitcoin to the dollar seems to miss the point of what each does, despite the connection between them still existing. But the problem here is convenience, and the bad things about USD are not evident. I wonder if you have looked into what makes any fiat valuable. Between an investment asset like bitcoin today and a fiat asset, they have different issues to talk about in terms of value. For me, if I were to choose a similar object to compare with bitcoin, it would be gold.

From the start, Bitcoin was not tied to the dollar, it's just that globally Bitcoin is traded in dollars because the dollar is a very popular currency and almost every country in every form of trade is measured in that currency.
The dollar is not as resilient as Bitcoin in hedging. Bitcoin was created to restore public confidence when confidence in fiat currencies fell due to the global economic crisis.

What's your idea?

Is that a test lol.  What kind of ideas do you have.  I mean for now since usd is one of the most pegged financial instruments in the world its easy to discern value based on usd.  I think too many people think about one taking over the other but both can and shoukd coexist for their own reasons.

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.

Don't assume that Bitcoin is tied to the dollar; that's a misconception. Bitcoin is a global currency, and the US is just one of the countries in the world. Bitcoin's value is closely linked to its user adoption rate, and as more people embrace Bitcoin, its value increases due to its limited supply. Bitcoin is not associated with any particular nation. If you come across such ideas, consider them false information or attempts to spread FUD intended to undermine Bitcoin's future.

The dollar is a currency created by the U.S., while Bitcoin was created for people globally. We, the users, will shape its future, so it's necessary to resist centralization, as it goes against the core purpose of Bitcoin. And lastly, US government can print endless dollars, while on one can increase the supply of bitcoin, in fact it decreases overtime due to various reasons.

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 ?  

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?



Oh wait, so the value of Bitcoin is backed by demand and supply, which means that is backed just as fiat!
When a fiat currency goes down is because the supply outweighs the demand by printing, like Zimbabwe or Venezuela!
The dollar is still powerful because there is demand for it, so is Bitcoin, see what you did here, you made them stand on equal footing!  


OMG, what does your fridge use, positive or negative electricity?

Both of them can actually still be manipulated through news and so on. However, the significant difference is in digital and physical and the ability to deal with inflation. Every fiat currency has great potential for inflation. In contrast to bitcoin which is able to handle that. And the most prominent greatness of Bitcoin is its 2 functions, namely currency and safe haven assets where none of this is very close to the characteristics of gold and silver which used to be a medium of exchange or currency before the existence of the fiat financial system.

Maybe you asked this question because of this article: https://blockworks.co/news/bitcoin-usd-us-economy.What are some ideas you can think of? I will wait for what you say here. Although it is also true that the US dollar does not have any backup,  all they do is print a lot so that many businesses under their regulations can borrow from the government programs they have.

Because if it's just me, Bitcoin has features that dollars don't have, first of all, its decentralization features and blockchain technology, which are the opposite of dollars, which require a third party when you do a transaction. Unlike Bitcoin, it's not like that; you know of the majority here.

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

There's nothing we would not read on BTT, so if Bitcoin is not tied to the USD which is the most recognised currency in the whole world, what would it be tied to? First, let me correct you, Bitcoin is virtual, the USD is not, it's a national currency and it's tied to the economy of the US and the world for that matter.

Also, I've not seen any valuable asset that functions in isolation, Bitcoin as an asset can't, it has to be paired/priced with something to know it's worth. Your suggestion is unless everyone in the world spends only Bitcoin which is impossible.

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

If you view BTC in USD equivalent, you will not able to get rid from USD, while fiat will become worthless and banks will bankrupt. While Bitcoin is resistance against that since Bitcoin has own it's feature and you're don't rely with third party platform.

The current world economy is highly dollarized. Almost all currencies in the world are tied to the dollar for them to be used in international trade. Although so many countries are trying to untie their currency from the dollar but it is very difficult because close to 70% of trade transaction is engaged with the dollar. Bitcoin value is usually estimated using the dollar because most goods and services are priced and traded in United States dollars. This situation doesn't mean that Bitcoin is tied to the dollar. Another problem is that bitcoin is still a new currency and is not popular in many countries. Many people might not understand the units or value of bitcoin except is associated with the dollar. But I assume that as Bitcoin becomes popular, it is likely that it can become dedollarised.

Yes, that is why countries ban these assets because energy consumption in any country is quite large. Bitcoin and the dollar are clearly different, they have nothing to do with each other, basically a superpower like the United States gives debt to every other country, at that time countries that were in debt started to become aware of the dollar.

Why does America's money never run out and creates big projects in its country. They worried that the United States would print money without a gold standard. In the end, the United States decided to exchange dollars for gold. However, it turns out that the superpower's gold reserves are not as large as the dollars lent to these countries. In 1971, the then US president decided that dollars could temporarily be printed without a gold standard. With this policy and ending with no gold reserves, there is a possibility that its value will continue to decline along with inflation. Why do the rich get richer, the poor get poorer

Was there a global elite family game behind President Nixon's decision?

This is where the big actors started with Satoshi who I think understands world financial flows. With extraordinary abilities above the average person, he is able to carry out transparent innovation, which as we know is Blockchain and does not want to be controlled by anyone. .

I don't think Bitcoin is tied to any fiat currency. The fact that they cannot control Bitcoin and shape it the way they want also supports what I say. Supply and demand determines the value of Bitcoin. The increase or decrease in this price has nothing to do with fiat currencies.

In fact, this is what makes Bitcoin valuable. Just like gold or precious metals, price changes occur in line with supply and demand.

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.

This is a common question in the community as they see these two currencies paired on all exchanges. You can freely tie bitcoins to any currency or goods, as long as you recognize its value. Remember that 10k bitcoins once cost 2 packages of pizza, and you can do that one more time.
But we already have a global standard value of bitcoin where people use references in various price trackers for their transactions.

Bitcoin and dollars are like positive and negative electricity, where they cannot move forward or down equally; they must always be opposite to each other. That's what happens in the market. When Bitcoin rises, there is a fall in the dollar.

And when there is an increase in the dollar, the value of Bitcoin falls, and to monitor that, that can that seen here at https://www.marketwatch.com/investing/index/dxy in short, they cannot be tied up in my own opinyon.

There are many differences between the dollar and bitcoin. Dollar is an international currency and Bitcoin is a digital currency. The value of the dollar remains the same no matter how much it is used, even if its use decreases completely, the value of the dollar will remain unchanged, but in the case of Bitcoin, the matter is a little different. The value of Bitcoin generally depends on the usage. The amount of bitcoin purchased from the market will increase the price of bitcoin and the amount of bitcoin sold in the market will reduce the price of bitcoin, its market value depends on its use. Bitcoin's gap with dollar is huge and demand and usage of dollar is much higher than bitcoin.

Exactly, it might look they are connected as we make transaction from BTC/USD in exchanges but they have no ties between each other. By just Bitcoin being decentralized itself, it and couldn't be controlled by any government, you can already concluded that BTC is impossible to have connections to USD. Only thing that government can do with Bitcoin is either legalized it for people to use it freely or will banned it if they think it would be a threat to their own currency or economy. Both might be affected by a certain issue and update causes for their value to lessen and increase but Bitcoin is more volatile and USD can be manipulated by the government so they are not the same thing but both is currency.