Does dollar value affect bitcoin value? - page 2.

serjent05

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Quote from: CaterpillarRave on December 14, 2017, 12:26:20 AM

I think it only involves a little. BTC is calculated by satoshi. then converted to USD. It does not affect much.

It really does not affect, since USD value just adjust to the Bitcoin value depending on how much people are willing to Buy Bitcoin and not how much the value of a dollar. Bitcoin is not pegged to dollar as we speak, Bitcoin price depends on the demand and supply and the hype around the market. Bitcoin value will stay on the effect of supply and demand even if dollar value is fluctuating.

CaterpillarRave

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I think it only involves a little. BTC is calculated by satoshi. then converted to USD. It does not affect much.

kodtycoon

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I think bitcoin can not be influenced by dollar value, exactly the opposite of dollar strengthen if traded with bitcoin is not the same as the fiat set by the government. higher the bitcoin price the fiat follows slowly as large trades have occurred in the crypto a little slowly away with forex trading.

supercanada1

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Quote from: katinko on December 12, 2017, 01:58:44 AM

I do not think so, bitcoin is different to fiat, it has own dimension no one controlling it the value of coin is depending in the supply and demand of one coin in the market while dollar and other fiat are base on the economy of one country which is controlled by the government. I think we do not need to compare digital currency to decentralized currency both has different uses, both has own advantage in different world.

I do agree with you because it is not having connection openly but they are connected as well. See now people are using bitcoin for shopping and in past people were using only dollar. The main point is that bitcoin has higher value than dollar and nothing can affect the demand and price of bitcoin right now. I would like to say that bitcoin is much better than dollar because saving bitcoin causes profit.

katinko

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I do not think so, bitcoin is different to fiat, it has own dimension no one controlling it the value of coin is depending in the supply and demand of one coin in the market while dollar and other fiat are base on the economy of one country which is controlled by the government. I think we do not need to compare digital currency to decentralized currency both has different uses, both has own advantage in different world.

reymartH

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There is no indication that fiat money influence Bitcoin price after all. Bitcoin has been developing on its own, disregarding international and major currencies movement.

Sadlife

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Both has independent platform if bitcoin goes down it will not affect dollar cause they are not pegged with each other. But if you cash out your bitcoin to dollars that's a different story cause if the value of dollars is low then the value of btc you'll get is also low regardless on how many btc you have. So in this point dollars can affect bitcoin with converting to btc into fiat.

vintages

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The original or traditional currency like the Dollar, Euro etc are physical money and has no absolute relationship of any kind with bitcoin or any other cryptocurrency.
So therefore the value of dollars does not affect bitcoin.

But one thing most people (including me) fear is that, the worth and the importance of dollar might be diminishing because more interest have been given to bitcoin. Even admist this fears, it is quite interesting to know that we need the dollars in order to encash our bitcoin or any other cryptocurrency.

christian07

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It's both money so it can,See the volatile price of bitcoin that's one of the cycle why bitcoin go up and down,If any person do buy bitcoin in dollar it can affect the price because the digital money move or a transaction made.We can also say some country have money in dollar that authorize bitcoin so it can affect the price also of bitcoin and it still continue to spread in some countries

Ewinsane

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Quote from: BillCoin on December 08, 2017, 04:26:10 AM

Quote from: leea-1334 on December 06, 2017, 02:42:21 PM

Seems most people here think like I do, that dollar value doesn't have an impact on Bitcoin value. I have asked myself this a few times, and it seems to be true, in a sense, because Bitcoin value against other pairs of currency are actually just the same if you equate it against USD. I do wonder if USD becomes extremely volatile or loses a great amount of value, how would or who would make the decision to change the pair it is valued against?

For example, in Zimbabwe, it is against dollar value because the local currency deactivated. Who actually determines that?

I don't believe that the dollar has any kind of impact on the bitcoin's value and I will explain why.

Bitcoin is being traded in a large amount of exchanges among the world, which means that it is being traded for a large variety of coins, if the USD goes down, it won't affect the price of bitcoin against other currencies( for an example, BTC/EUR, BTC/CNY,BTC/JPY).
Because the price of bitcoin against other currencies will remain constant, it will make the price of bitcoin against USD go higher.

It WILL affect the bitcoin price against dollars, but won't affect it's value, as dollar go down, but bitcoin goes up against the dollar.

No. The dollar has its price and Bitcoin has another and this causes the two to change their prices without depending on each other, for example, a few days you would have to spend at the current price 12 thousand dollars to acquire a currency of Btc, today you only with 13-14 thousand dollars you will be able to buy that same currency that until a few days ago was worth 12. Simply put, not the correlation between these worlds.

filharvey

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Quote from: psmachado on December 06, 2017, 02:19:50 PM

Guys, wait a second, if you are watching the price of Bitcoin.like 12000$ so the value of dollar afects Bitcoin! If you watch in Euros the price of euros afects the price of bitcoin! Everytime you try to put a "value" on bitcoin you will afect them by the currency! If USD drops, the price of bitcoin can change in USD but not in EUR...

Bitcoin is valued based on various currencies.But it is mostly mentioned in terms of USD.So,if USD price decreases,definitely it would affect bitcoin price as far as it is valued and converted in to dollars.

But at the same time,if it is valued in euro or other currencies which has stable price,then there would be no difference in bitcoin's value.Even if dollar currency crashes totally,then bitcoin would be valued in euro or yen or any other popular currency.

maimainguyen05

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Yes it will affect to Bitcoin price but in my opinion it'll make Bitcoin price go to the moon cause people will more focus on Bitcoin to get more profit cause the value of dollar is lower than before so they'll prefer use Bitcoin to dollar than before.

gollum23

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на биткоин новости доллара мне кажется не влияют совсем

/GeertJohan

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Nope,i think It does not affect this. Here there are not necessary to compare those things. Because dollar is a fiat bitcoin is a digital currency Then why did you compare it.. if it get down you can convert it to other fiat and trade it as your process.. it depends on your thought..

oegarod

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Quote from: SHAWN-MIDWAYS on December 09, 2017, 04:01:01 PM

I think the dollar does affect bitcoin value but certainly not in a direct way. IMO this could happen based on demand of bitcoin being present and if for example an economy is underperforming and say there is inflation it means people will be paid more money(more dollars) and if they decide to invest their money in bitcoin it means they have access to more bitcoins which in return pushes the value higher.

Dollar value has a major effect upon bitcoin's value. This is all because of the dependence that bitcoin as well other digital currencies have over dollar. At the same, dollar doesn't have the dependence on digital currency which keeps the dollar a high profile asset than bitcoin, though the growth of bitcoin is much higher in value compared to dollar.

SHAWN-MIDWAYS

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I think the dollar does affect bitcoin value but certainly not in a direct way. IMO this could happen based on demand of bitcoin being present and if for example an economy is underperforming and say there is inflation it means people will be paid more money(more dollars) and if they decide to invest their money in bitcoin it means they have access to more bitcoins which in return pushes the value higher.

pisston

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Quote from: nidacoinlove on December 09, 2017, 08:36:24 AM

Quote from: ivrynx on December 08, 2017, 10:04:57 AM

The dollar has no effect on the value of bitcoin, since you can exchange bitcoin to any fiats. This is a miscinception that the dollar affects the price of bitcoin, we only use dollar as the basis, in order to check how much bitcoin's value move, since it is already used in foreign exchanges, we can also use it as basis for the value only.

Mate as you said that dollar is used as a base to find the value of bitcoin. So, if the base gets disturbed it will surely effect the rest of the structure. According to my understanding US dollar is used for the purpose against the bitcoin value because it is internationally recognized currency for trading. The huge trading between a country and rest of the world rely on dollar where the price of dollar is effective to that trade. Same is the case here with bitcoin if dollar price goes down bitcoin price will be valuaed more in dollars and that's it.

I completely agree with you that the Bitcoin dollars for the whole time of the existence of crypto currency in communication are interrelated. Even with fluctuations for the dollar and with today's damage to the growth of Bitcoin on each other, they practically do not affect.

nidacoinlove

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Quote from: ivrynx on December 08, 2017, 10:04:57 AM

The dollar has no effect on the value of bitcoin, since you can exchange bitcoin to any fiats. This is a miscinception that the dollar affects the price of bitcoin, we only use dollar as the basis, in order to check how much bitcoin's value move, since it is already used in foreign exchanges, we can also use it as basis for the value only.

Mate as you said that dollar is used as a base to find the value of bitcoin. So, if the base gets disturbed it will surely effect the rest of the structure. According to my understanding US dollar is used for the purpose against the bitcoin value because it is internationally recognized currency for trading. The huge trading between a country and rest of the world rely on dollar where the price of dollar is effective to that trade. Same is the case here with bitcoin if dollar price goes down bitcoin price will be valuaed more in dollars and that's it.

julzcoinbit

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Quote from: Fantastic33 on December 08, 2017, 10:23:17 PM

Bitcoin and dollar is different from each other. Bitcoin is a digital currency, while dollar is a physical money which is regulated by banks... i think both dont affect one other since they are both different.

Absolutely, they are different on each especially there function and definitely there equivalent value. Bitcoin is a digital money that only lives in cyberworld while dollar is fiats money as what we know. As the question ask, if they will affects on each other?, well my answer is not they can't affect on each other since the bitcoin is decentralized was occured which no one will enter even the government has no authority. Soon in the future, as time passes by bitcoin will used as paying transaction that makes easy to each and everyone of us.

katinko

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Quote from: pazzpjj001 on December 06, 2017, 08:16:38 AM

Im just wondering. Bitcoin is so expensive. What if dollar value get low will it affect bitcoin value?

I dont thinks so, dollar getting stronger because of the growth of the country and the good economy of one country while in bitcoin is independent no one controlling this currency, the value continuous increasing because of continuous adoption by many people that is why demand also increasing and it will reflect on its value.

I think there is no reason to compare this two different currency.

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