Fiat currencies - page 5. | Bitcointalksearch.org

Eugenar

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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.

panganib999

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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?

USD is a universal currency, wherever you go you can still use USD because it's convertible with different currencies due to the universal relationship of U.S to other countries even the most far away and centralized countries. If you're gonna compare it with languages, it's comparable with english, being understandable or if not, usable in terms of communicating for it was labeled as a universal language. I don't think really think euro can replace USD, the laters dominance is just too heavy to dethrone it easily.

adzino

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No, why would USD replace EURO? I mean in what sense are you saying that US dollars might replace Euro? US dollar is already considered as the reserved currency of choice. It is more dominant because it is the most stable and widely traded currency. Euro can become stable enough only when EU instead of being a hybrid system turns into true federation. Then EURO might end up taking over USD as a choice of reserve currency.

Wysi

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Quote from: Triffin on October 25, 2019, 12:45:02 PM

Quote from: palle11 on October 22, 2019, 12:26:56 PM

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

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?

I don't see that being realized because dollar has already dominated in world wide trading activities. Even the countries that make up the euro currency, are trying to breakout and that might make the euro to drop if it happens. For instance, England with the brexit agenda is fighting seriously to go off from the euro currency.

No doubt dollar has been ruling the market for long and as it is the currency of present super power, we all can expect this. Euro being back-lashed by few countries will affect it badly. But dollar will not stay ruler forever. As the times are changing and technology is penetrating into every aspect of life, soon digital currencies will take over fiat and then bitcoin will become the new ruler of all.

Digital currency is definitely the future but when we say digital currency there are lot of options available and I feel if digital currency topples dollars then it would be an stable coin rather than bitcoin or other fluctuating altcoins as people will expect for stability. But bitcoin will always be preferred as the first choice if someone is looking for investment into crypto but when it comes to toppling fiat I don't think Bitcoin is equipped to do that.

Triffin

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Quote from: palle11 on October 22, 2019, 12:26:56 PM

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

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?

I don't see that being realized because dollar has already dominated in world wide trading activities. Even the countries that make up the euro currency, are trying to breakout and that might make the euro to drop if it happens. For instance, England with the brexit agenda is fighting seriously to go off from the euro currency.

No doubt dollar has been ruling the market for long and as it is the currency of present super power, we all can expect this. Euro being back-lashed by few countries will affect it badly. But dollar will not stay ruler forever. As the times are changing and technology is penetrating into every aspect of life, soon digital currencies will take over fiat and then bitcoin will become the new ruler of all.

White Christmas

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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.

buwaytress

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Quote from: bitgolden on October 25, 2019, 06:43:13 AM

With America still America, it would have even been impossible for Euro to take over the USD even if they had not had this plan of England breaking out. The united states has held so much power that they will do everything possible to ensure that their usd does not loose relevance, and we see how they have tried everything possible to even make bitcoin usage impossible, but the only luck that bitcoin had and why they have not been successful is that bitcoin was built on a decentralized platform.

All these other fiat currencies are all operating through a centralized system, which makes it very easy for their government to manipulate their way and ensure that euro does not see the light of the day and it will even become very tight for euro now that there is cryptocurrency.

And funnily enough, all of that power and might is held in the throes of debt. Every time the US flexes, it reminds me of that kid from school who splashed his money around, looking glam and impressing the girls, and suddenly looking so cool and full of personality, helped on by the illusion of power (money).

And then all the while, his credit card's bank is happy with every swipe, cause they want to own him, his home, his land, his credit.

Now imagine who smiles every time Uncle Sam and the Fed splash out with them dollars.

And then, imagine why the worry when Bitcoin entered the scene.

bitgolden

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Quote from: palle11 on October 22, 2019, 12:26:56 PM

I don't see that being realized because dollar has already dominated in world wide trading activities. Even the countries that make up the euro currency, are trying to breakout and that might make the euro to drop if it happens. For instance, England with the brexit agenda is fighting seriously to go off from the euro currency.

With America still America, it would have even been impossible for Euro to take over the USD even if they had not had this plan of England breaking out. The united states has held so much power that they will do everything possible to ensure that their usd does not loose relevance, and we see how they have tried everything possible to even make bitcoin usage impossible, but the only luck that bitcoin had and why they have not been successful is that bitcoin was built on a decentralized platform.

All these other fiat currencies are all operating through a centralized system, which makes it very easy for their government to manipulate their way and ensure that euro does not see the light of the day and it will even become very tight for euro now that there is cryptocurrency.

Xxmodded

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Quote from: ReiMomo on October 23, 2019, 01:15:31 AM

Quote from: palle11 on October 22, 2019, 12:26:56 PM

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

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?

I don't see that being realized because dollar has already dominated in world wide trading activities. Even the countries that make up the euro currency, are trying to breakout and that might make the euro to drop if it happens. For instance, England with the brexit agenda is fighting seriously to go off from the euro currency.

Well, I don't think that will happen. As we all know the USA is a powerful country and there's no way that they will allow that dollar will lose it's popularity or might get weak. I do believe that they are working so hard on it and they are fully developed country. Well, dollar is dominant because it is universal money. You can use it in every country of this world. Probably the country of the USA is one of the most powerful country.

EURO still dominace than USDT and euro never replace for usdt, how ever if bitcoin become popular transaction payment USDT still dominance as transaction payment, many country still use USDT as fiat transaction for export and import their commodity to other country, USDT keep stable coin using by many government for every transaction and can not replace by bitcoin or altcoin.

ReiMomo

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Quote from: palle11 on October 22, 2019, 12:26:56 PM

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

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?

I don't see that being realized because dollar has already dominated in world wide trading activities. Even the countries that make up the euro currency, are trying to breakout and that might make the euro to drop if it happens. For instance, England with the brexit agenda is fighting seriously to go off from the euro currency.

Well, I don't think that will happen. As we all know the USA is a powerful country and there's no way that they will allow that dollar will lose it's popularity or might get weak. I do believe that they are working so hard on it and they are fully developed country. Well, dollar is dominant because it is universal money. You can use it in every country of this world. Probably the country of the USA is one of the most powerful country.

alyssa85

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Quote from: BitHodler on October 22, 2019, 12:06:17 PM

Quote from: airdnasxela on October 22, 2019, 09:48:22 AM

Although euro is popular along with dollars, it is still the most popular. According to what I have researcher, euro being the second closest reserve currency was damaged due to eurozone crisis. Dollars is leading so far compare to euro.

The Euro is a joke, and I'm using it every single day, which is the worst part.... I rather hold anything nominated in USD value than EUR value, because it's bound to keep falling with no end in sight.

If you held an asset nominated in EUR throughout the last couple of years, you lost big time, while most assets nominated in USD saw their value increase. It's clear that the USD is where you can find most of the confidence.

It's more likely that we will fall back to the gold standard than see a EUR standard become a real thing, especially with how I believe that there isn't a single fiat currency that can do well with the USD imploding.

Out of interest, how are you protecting yourself? Moving into dollars or into bitcoin or both.

IMO the biggest risk is if the Germans decide they're fed-up of negative interest rates and exit the euro. I expect the euro will plunge in value by a good 40% if they leave.

palle11

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

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?

I don't see that being realized because dollar has already dominated in world wide trading activities. Even the countries that make up the euro currency, are trying to breakout and that might make the euro to drop if it happens. For instance, England with the brexit agenda is fighting seriously to go off from the euro currency.

Wysi

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Quote from: Obito on October 22, 2019, 09:55:03 AM

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

My main question is what makes usd so dominant?

Must be from the country's economy was in properly situation. Therefore, products and services seemed to be more affordable for the citizens in their that on the other hand third world countries currency should be double to able buy one of those. In other case like crypto currency it seems that people who uses bitcoin or other altcoins counts less than the people who uses USD besides the risk in bitcoin is pretty much obvious than USD in my opinion.

It's the acceptance of USD throughout the world which makes it so dominant and the credit goes to the government of USA and it has a long history of violence in order to make the USD so dominant and the main reason USD standouts among-st the other fiat is the fact trades are decided over USD I am sure those who are into import export will understand what am I trying to portray, we have witnessed a Libyan military coup that was created to stop making gold as a trading standard against the USD. I believe only the acceptance makes a fiat dominant. Bitcoin still has a long way to go but it's still possible if bitcoin reaches out to the real life transactions.

BitHodler

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Quote from: airdnasxela on October 22, 2019, 09:48:22 AM

Although euro is popular along with dollars, it is still the most popular. According to what I have researcher, euro being the second closest reserve currency was damaged due to eurozone crisis. Dollars is leading so far compare to euro.

The Euro is a joke, and I'm using it every single day, which is the worst part.... I rather hold anything nominated in USD value than EUR value, because it's bound to keep falling with no end in sight.

If you held an asset nominated in EUR throughout the last couple of years, you lost big time, while most assets nominated in USD saw their value increase. It's clear that the USD is where you can find most of the confidence.

It's more likely that we will fall back to the gold standard than see a EUR standard become a real thing, especially with how I believe that there isn't a single fiat currency that can do well with the USD imploding.

Darooghe

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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.
My main question is what makes usd so dominant?

Simply because people still want US dollars. That is the fundamental key behind the strength of the dollar: people around the world want to buy US dollars. Now, the why is going to be huge and multifaceted. Part of it is that oil is sold in dollars, other factors include that US goods and services are still highly valued, and those also have to be paid for with US dollars.

In addition, the dollar is regarded as 'stable', so people buy dollars to store value. Furthermore, US Treasury Bills are seen as very good, very stable investments, and they are both bough for and pay out in dollars, creating even more demand for US dollars. the answer you want is that people want US dollars, but the answer to the 'why' for that is huge and multifaceted, and definitely not down to any single factor.

tambok

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Quote from: SummerBliss on October 22, 2019, 11:39:46 AM

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?

Yes agree with you that dollar is the strongest currency but it has some reasons like dollar being the most used currency in international trade and to settle claims around the world.Moreover most of the countries maintain reserves with them in respect to dollar and oil barrels are sold in market with dollar prices.So it remains at top in all currencies.

Dollar is really the most powerful currency, as it is a global currency that is accepted for trade throughout the world. It is the most popular world's currencies that is accepted for most international transactions. Actually, there are more than one-third of the world's GDP comes from countries that peg their currencies to the dollar.

You may check here for further info https://www.thebalance.com/world-currency-3305931

SummerBliss

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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?

Yes agree with you that dollar is the strongest currency but it has some reasons like dollar being the most used currency in international trade and to settle claims around the world.Moreover most of the countries maintain reserves with them in respect to dollar and oil barrels are sold in market with dollar prices.So it remains at top in all currencies.

alyssa85

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Quote from: STT on October 18, 2019, 08:41:10 PM

Quote from: Genemind on October 14, 2019, 08:18:41 PM

Dollar will always be the international currency no matter how many currencies with larger values may appear. It's well established

Every well established currency has been replaced after some time especially when it failed to convey value reliably for the population of users. The problem we have is within our lifetimes we have no reason to doubt it will continue as a standard as previously but historically it would be normal for transition to another standard.

The switch from the Pound to the Dollar required a switch in oil, gold and other commodities to being priced in dollars rather than pounds.

This was a condition of the post-war loans the US made to the UK in 1947.

If the UK hadn't been wrecked by World War II, then the pound would still be the global currency.

So - the dominant currency is due to a mix of economic and military strength.

Obito

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

My main question is what makes usd so dominant?

Must be from the country's economy was in properly situation. Therefore, products and services seemed to be more affordable for the citizens in their that on the other hand third world countries currency should be double to able buy one of those. In other case like crypto currency it seems that people who uses bitcoin or other altcoins counts less than the people who uses USD besides the risk in bitcoin is pretty much obvious than USD in my opinion.

airdnasxela

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Maybe because US dollars are leading in the foreign exchange market. And is the most traded currency, not only locally but also internationally. Although euro is popular along with dollars, it is still the most popular. According to what I have researcher, euro being the second closest reserve currency was damaged due to eurozone crisis. Dollars is leading so far compare to euro.

Topic: Fiat currencies - page 5. (Read 1696 times)