Fiat currencies - page 4. | Bitcointalksearch.org

Vishnu.Reang

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Quote from: Wexlike on December 31, 2019, 03:12:34 PM

Yeah we probably won't witness the demise of the dollar in our life times. They can always kick the can further down the road, due to people still trying to get every dollar they can get, just because their paper is even worse.

The United States Dollar is not going to die out anytime soon. As of now, it is one of the strongest fiat currencies in the world. However, its status as the reserve currency of the world can be under threat. Until around the 1920s, the Great Britain Pound was considered as the reserve currency of the world and that was the time when USD replaced it from that position. Sometime in the future, some other currency will replace USD from this position as well.

Wexlike

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Quote from: deadthings on December 31, 2019, 01:20:42 PM

I have lived my life hearing that USA economy is going to collapse and USD will collapse very soon but after 35 years of my life I haven’t seen reduction in US dollar strength rather it has increased. EURO has its own strengths but I don’t think it has the potential to replace bitcoin. For next 5 years US dollar will be the king after that I can’t say anything.

Yeah we probably won't witness the demise of the dollar in our life times. They can always kick the can further down the road, due to people still trying to get every dollar they can get, just because their paper is even worse.

Wysi

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Quote from: deadthings on December 31, 2019, 01:20:42 PM

I have lived my life hearing that USA economy is going to collapse and USD will collapse very soon but after 35 years of my life I haven’t seen reduction in US dollar strength rather it has increased. EURO has its own strengths but I don’t think it has the potential to replace bitcoin. For next 5 years US dollar will be the king after that I can’t say anything.

It's a know fact that USA will not collapse regardless of slowdown or economical sanctions because we have to accept the fact that US is the most powerful and it can go to any extend in order to keep its currency on top. I will consider USA as weak when we use some other fiat for trading or business in the international market.

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I have lived my life hearing that USA economy is going to collapse and USD will collapse very soon but after 35 years of my life I haven’t seen reduction in US dollar strength rather it has increased. EURO has its own strengths but I don’t think it has the potential to replace bitcoin. For next 5 years US dollar will be the king after that I can’t say anything.

ontrackk

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Quote from: beerlover on December 31, 2019, 11:08:28 AM

USA is good because of capitalism but it does come with its price. Old people used to say "we used to have money but didn't had anything buy, now there is a lot to buy but we don't have the money" and we all know what they mean by that now. When capitalism first started it was a good idea, the gap wasn't that big and there was a big middle class, in 60's you could live in USA, be a factory worker and have a house that you paid for and send your children to college and could own couple cars or change your car every 5 years.

Nowadays the wealth gap is bigger so there are a lot of poor people and few rich people, there are very few factories as it is because its overseas and people who do manual labor can't afford a house at all, can't send their kids to college or even a bad health risk could set them back for years.

this is because that's how capitalism works. Even though it provides people with a lot of products unfortunately due to inflation it is harder and harder to buy the stuff. I believe that in the future sooner or later such system will be doomed as the only people who will be able to afford stuff will be the top 0.1% then it will be time for bitcoin and time for the real bull market adoption.

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USA is good because of capitalism but it does come with its price. Old people used to say "we used to have money but didn't had anything buy, now there is a lot to buy but we don't have the money" and we all know what they mean by that now. When capitalism first started it was a good idea, the gap wasn't that big and there was a big middle class, in 60's you could live in USA, be a factory worker and have a house that you paid for and send your children to college and could own couple cars or change your car every 5 years.

Nowadays the wealth gap is bigger so there are a lot of poor people and few rich people, there are very few factories as it is because its overseas and people who do manual labor can't afford a house at all, can't send their kids to college or even a bad health risk could set them back for years.

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Quote from: makolz26 on December 31, 2019, 07:08:49 AM

Quote from: crossabdd on December 31, 2019, 05:34:54 AM

USD is the US currency. which this country is a superpower, developed and has power over technology. most technology centers are there. and international currency is USD. and why the USD is weakening, because China has controlled the world economic market. In addition, the largest crypto in China and the Chinese government has built their crypto currency. while US refused crypto. this is one of the reasons the USD has begun to weaken.

Just like Bitcoin as the king of cryptocurrency, USD is the king of fiat, despite the fact that China's economy is really rising these past few years over the US, still all countries are using the USD as their basis currency. Yes, China really would finally launch their own crypto, so let's watch out carefully how it will affect the market in Bitcoin.

In other words, USD is Reserve Currency, that's why USD is the benchmark for currencies around the world. And in other words, Bitcoin is reserve cryptocurrency.
I'm not sure that the USD will continue to dominate, the rumor is that Trump is interested in gold and wants to make it as currency, most likely due to recent USD inflation, Trump is preparing plans for it.

buyinbtc

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Quote from: keeee on December 31, 2019, 08:15:55 AM

Quote from: White Christmas on October 25, 2019, 08:22:51 AM

Quote from: Polo7 on October 13, 2019, 11:45:18 AM

My main question is what makes usd so dominant?

Simply because usd or united states dollar is the local currency of the America who is the number one country who have a good econmic growth, and also their economy is far beyond the others so that usd become so dominant among all of the local currencies. We can also see it when we converted bitcoin to usd it was alread established that this is the initial conversion of the OP so that would probably the main reason why usd is so dominant, this is all about the economic growth of the country.

I agree we can see how good the economy of united states. America is one of the best country that we can say when it comes to economic growth. They manage it well which the usd makes more stronger than euro. Once a country know how to run a currency it will be valuable even other currencies have higher value.

Well they are managing it well right now when there's seemingly no massive problem. However, we're literally on a bring of a new financial crisis that is going to be much stronger than the one that we had in 2008. Don't think that US will manage to withstand this one. Either we will see the complete government disappearance or some other country will become the superpower like China or Russia. Hopefully bitcoin will boom in those times too.

keeee

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Quote from: White Christmas on October 25, 2019, 08:22:51 AM

Quote from: Polo7 on October 13, 2019, 11:45:18 AM

My main question is what makes usd so dominant?

Simply because usd or united states dollar is the local currency of the America who is the number one country who have a good econmic growth, and also their economy is far beyond the others so that usd become so dominant among all of the local currencies. We can also see it when we converted bitcoin to usd it was alread established that this is the initial conversion of the OP so that would probably the main reason why usd is so dominant, this is all about the economic growth of the country.

I agree we can see how good the economy of united states. America is one of the best country that we can say when it comes to economic growth. They manage it well which the usd makes more stronger than euro. Once a country know how to run a currency it will be valuable even other currencies have higher value.

makolz26

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Quote from: crossabdd on December 31, 2019, 05:34:54 AM

USD is the US currency. which this country is a superpower, developed and has power over technology. most technology centers are there. and international currency is USD. and why the USD is weakening, because China has controlled the world economic market. In addition, the largest crypto in China and the Chinese government has built their crypto currency. while US refused crypto. this is one of the reasons the USD has begun to weaken.

Just like Bitcoin as the king of cryptocurrency, USD is the king of fiat, despite the fact that China's economy is really rising these past few years over the US, still all countries are using the USD as their basis currency. Yes, China really would finally launch their own crypto, so let's watch out carefully how it will affect the market in Bitcoin.

Vishnu.Reang

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Quote from: crossabdd on December 31, 2019, 05:34:54 AM

USD is the US currency. which this country is a superpower, developed and has power over technology. most technology centers are there. and international currency is USD. and why the USD is weakening, because China has controlled the world economic market. In addition, the largest crypto in China and the Chinese government has built their crypto currency. while US refused crypto. this is one of the reasons the USD has begun to weaken.

Well.. I am not sure about it.. In my opinion, the United States Dollar is still the strongest fiat currency out there. The vast majority of the international trade is being conducted using USD. And the only currency which can offer meaningful competition to the USD is the Japanese Yen. Euro looks stronger in paper, but its purchasing power, as well as the exchange rate has gone down against the USD during the last few years.

crossabdd

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USD is the US currency. which this country is a superpower, developed and has power over technology. most technology centers are there. and international currency is USD. and why the USD is weakening, because China has controlled the world economic market. In addition, the largest crypto in China and the Chinese government has built their crypto currency. while US refused crypto. this is one of the reasons the USD has begun to weaken.

khunyung

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Quote from: el kaka22 on October 26, 2019, 04:53:44 AM

Euro doesn't need to take over dollar in the world, euro is only for Europe and they are doing fine with their own currency. That was the whole reason for it, when there was individual currencies for each nation there was a problem with dollar domination on all of them in exchanges, but now that they have euro, dollar can't really bother them anymore, not when they are doing business cross borders.

Anyone from Belgium could go to Netherlands for a weekend gateaway and doesn't need to change their money to something else. Sure, dollar is still the main money in third world countries and everywhere else other than Europe but when it comes to euro zone the money you need is euro and that is enough for them. There are tons of nations who are working to get into euro because of it.

Totally agreed.
I'd add China in the list of countries who doesn't need USD that much.
Also China is self-sufficient state (mostly) so outer world doesn't really affect inner situation in the country.

angryswamp

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What claims the weakening of the dollar at the moment huh. Strong leadership trumps and regulations that are greedy and strict, let alone the economic strength of the country. What I see is a dollar that doesn't collapse, although the two countries that wage an economic war that crash in another country's local currency's value. When you foresee a poor dollar, this is a warning of the deterioration of the global economy. Evidence of why the USD has become the currency exchange rate pioneer, as the US has always had the world's largest gold reserves. When you look at the market at the moment, the euro will prevail, so that the value of the dollar remains the exchange rate and the global currency.

HarmonyA

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Quote from: Polo7 on October 13, 2019, 11:45:18 AM

Some say that dollar is weak and getting weaker.

But dollar is still strongest currency.

Look at the stable coins like : pax, usdc, usdt true usd and more... They are pegged with usd.
But how many stable coins are for euro or other currencies?

As people spreading rumours that dollar will collapse and losing dominance, i see different.

My main question is what makes usd so dominant?

And why the euro value is higher then usd but USA dollar is still dominant, do you think that usd will be replaced by euro?

What's Ur take on that?

A worldwide currency is one that is acknowledged for exchange all through the world. That makes it the true worldwide currency, despite the fact that it doesn't hold an official title.
One third of the world's total national output originates from nations that peg their monetary forms to the dollar. In the foreign exchange market, the dollar rules.

Eugenar

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Quote from: White Christmas on October 25, 2019, 08:22:51 AM

Quote from: Polo7 on October 13, 2019, 11:45:18 AM

My main question is what makes usd so dominant?

Simply because usd or united states dollar is the local currency of the America who is the number one country who have a good econmic growth, and also their economy is far beyond the others so that usd become so dominant among all of the local currencies. We can also see it when we converted bitcoin to usd it was alread established that this is the initial conversion of the OP so that would probably the main reason why usd is so dominant, this is all about the economic growth of the country.

Most of the time, people utilize USD, in particular, in terms of cryptocurrency, what people want is a stable crypto which can be considered as conversion of fiat. In this case, dollar is the strongest because the conversion is directly from BTC to USD, unlike with other nation's fiat, there is no cryptocurrency that is directly convertible to their respective fiat currency. In return, stable coins with USD in equivalence is getting stronger in time, since there's not much choices that a user can choose from.

deisik

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Quote from: Polo7 on October 13, 2019, 11:45:18 AM

My main question is what makes usd so dominant?

It is the strength of the economy that determines the strength of its currency

So if an economy is weak and failing, its currency cannot be strong by definition. In this frame of reference, it becomes glass clear why the dollar is still dominating the world. In simple terms, it is because the US, as a nation and country, massively dominates the world in almost any area of relevance and importance

Regarding why Euro is more expensive than the dollar, it is simply an accounting identity of sorts - there are more dollars in circulation that euros. So even if the purchasing power of one dollar can be lower than that of one euro, it doesn't mean that euro is a better currency than the US dollar

el kaka22

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Euro doesn't need to take over dollar in the world, euro is only for Europe and they are doing fine with their own currency. That was the whole reason for it, when there was individual currencies for each nation there was a problem with dollar domination on all of them in exchanges, but now that they have euro, dollar can't really bother them anymore, not when they are doing business cross borders.

Anyone from Belgium could go to Netherlands for a weekend gateaway and doesn't need to change their money to something else. Sure, dollar is still the main money in third world countries and everywhere else other than Europe but when it comes to euro zone the money you need is euro and that is enough for them. There are tons of nations who are working to get into euro because of it.

meliodas

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Quote from: Edraket31 on October 26, 2019, 01:24:45 AM

Quote from: Eugenar on October 26, 2019, 12:42:30 AM

Quote from: yulchatar on October 13, 2019, 03:20:01 PM

The dollar has been dominant for nearly a hundred years due to the fact that the American economy has been strong and powerful for many years. But recently, the trend has changed to the side of the countries of Asia, their economies are developing rapidly and this fact puts the dollar at risk.

One of the reason why USD is dominant is because of the number of transaction that we have in exchange to USD. Plus, the adoption of people to USD as one of the major conversions from their own fiat currency. But in terms of bitcoin, there's a possibility that bitcoin dominance and other altcoins can still be on top when the theirmarket price grows enough and their volatility decreases. In this case, it could be adopted as the main currency for daily transactions.

Yes, besides USD is the currency that is widely used in international transactions, such as buying and selling of oil and other goods, remittance of money, and many more, so USD is really the considered global currency. But, let's see in the future, let's hope crypto could be considered too.

Cryptocurrency is already considered as an international currency. You can buy and sell some goods online and prefer to pay or receive cryptocurrency as a mode of payment. Cryptocurrency has no boundaries because of the decentralization so you can do what you want with the coins that you have. USD is slowly losing its consumers because little by little, they are transferring to crypto.

Edraket31

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Quote from: Eugenar on October 26, 2019, 12:42:30 AM

Quote from: yulchatar on October 13, 2019, 03:20:01 PM

The dollar has been dominant for nearly a hundred years due to the fact that the American economy has been strong and powerful for many years. But recently, the trend has changed to the side of the countries of Asia, their economies are developing rapidly and this fact puts the dollar at risk.

One of the reason why USD is dominant is because of the number of transaction that we have in exchange to USD. Plus, the adoption of people to USD as one of the major conversions from their own fiat currency. But in terms of bitcoin, there's a possibility that bitcoin dominance and other altcoins can still be on top when the theirmarket price grows enough and their volatility decreases. In this case, it could be adopted as the main currency for daily transactions.

Yes, besides USD is the currency that is widely used in international transactions, such as buying and selling of oil and other goods, remittance of money, and many more, so USD is really the considered global currency. But, let's see in the future, let's hope crypto could be considered too.

Topic: Fiat currencies - page 4. (Read 1696 times)