Fiat currencies - page 7. | Bitcointalksearch.org

error08

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Quote from: Dhoe on October 16, 2019, 12:00:17 AM

This is because the dominance of the American Dollar is still the king of world currencies so that all domestic exchanges still use USD pairs. But I am among those who believe that the US dollar will collapse along with other fiat money which will be replaced by digital money, Bitcoin et al.

Nope, USD will not collapse even in another century and bitcoin can not replace fiat currency due to its scalability issue.
USD backed by the U.S. government which symbolizes economic power, as long as their economy is working just fine, the USD will remain a strong currency compared to other currencies. Moreover, the U.S. government has tons of gold reserves (4,580 metric tons of gold bullion) in fort knox as the back-up plan.

Dhoe

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This is because the dominance of the American Dollar is still the king of world currencies so that all domestic exchanges still use USD pairs. But I am among those who believe that the US dollar will collapse along with other fiat money which will be replaced by digital money, Bitcoin et al.

shoreno

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Quote from: supto005 on October 15, 2019, 03:46:15 PM

Who said that the dollar is weak and getting weaker? Dollar use for international market price. In the international market, the dollar is used not the euro. USD will never be replaced by the Euro.

yeah . when we we saw the word usd , everyone is familiar with it but when eur ? only few people will recognize it . me myself dont know if what country eur originated and if what value eur have . its normal for fiat currency to decrease sometimes but that does not mean that they are getting weaker because just like cryptos , their value can also recover and grow a little bit more . usd is like the btc in crypto , in short its the general measurement of all the currencies .

nasipadang

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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?

Things you should know in the world economy, price is not a determinant of domination, but how much economic power from each country can determine domination, we are talking in various sectors of the world economy. FIAT is centered on the government, if you compare it with cryptocurrency which is determined by who(coin) adoption is more numerous, and that is the difference how work.

glendall

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The US Dollar has become the central money due to the existence of the world bank, while why are EUR and USD values more expensive EUR? in my opinion it is because there is a long history behind it, but unfortunately I do not remember correctly, but I always believe that money (FIAT) will weaken every year because of inflation that cannot be prevented, and cryptocurrency is the solution.

1Referee

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Quote from: alyssa85 on October 15, 2019, 07:55:10 AM

The dollar is going nowhere. Currencies like the euro might disappear if they have another crisis.

It's only a matter of time.

The banking system in europe is rotten to its core. A few weak but extremely large banks (Deutsche Bank is a perfect example) are capable of dragging the euro down to new lows. All it takes is one blip in the economy and these banks will implode with catastrophic consequences for pretty much the whole world.

Deutsche Bank's stock price keeps marking lower lows. It's currently €1.18 away from its all time low it marked in August of this year. This chart looks identical to a chart of a failed token project that's down by more than 90%.

supto005

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Who said that the dollar is weak and getting weaker? Dollar use for international market price. In the international market, the dollar is used not the euro. USD will never be replaced by the Euro.

TinaK

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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?

Because Dollars is under control and due to the power hands of US. This USD seems stronger than any other fiat currenciez in this world.
If you see the Kuwaiti dinar which is costliest in the market but it is not highly used than USD in the market.
So don't compare cryptocurrencies with fiat currencies.

semobo

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I don't think dollar is getting stronger but many currencies around the world lost its value which leads the price of USD to be high for their value so they become like a dominant currency but not far away from losing their dominance in the world economy since already underworld transactions are mostly in crypto if more countries make it legal then we can see it everywhere.

ChrisPop

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The fiat currencies in general are weak and will get weaker and weaker as time goes by due to the inflation. That is why you should get rid of your fiat currencies as soon as possible. By "get rid of" I mean invest them into income producing assets or hard-assets that generally appreciate in value over time like gold or Bitcoin? or real estate. If a currency is stronger than another it is most usually because the supply and demand law. A lower supply currency could be much higher in value than one which is widely spread and the demand doesn't grow with the supply. Of course there are other factors, but we're not at the macroeconomics class here Grin

Apes

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The USD is dominant because the USD is the most stable currency in terms of other currencies, so it is widely used throughout the world, with stable prices many people use it to trade without worries that the exchange rate is down. and because the international market has been accustomed to using the USD it will be difficult for the Euro to replace it, however it is not impossible if European trade mandatory using the Euro as their transaction tool to replace the dominance of the USD in Europe.

cryptoknightt

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however the price movement also I see fiat conditions have a very dominant price movement, usd has a high demand and many platforms that use usd so that usd is now the king of fiat.

ReiMomo

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Quote from: Ctn on October 15, 2019, 07:31:56 AM

Dollar is getting stronger and stronger only against other fiat currencies but it is not getting stronger actually. Because around 100 years ago we used to buy much more things from $1 than what we can buy today. This clearly shows how negative dollar's value has gone and this will go even more down as fiat are meant to be in such a way.

I think it's because the USA is a powerful country all over the world the reason why the value of its fiat is big and dominant compared to another fiat. Well, Since Europe it the motherland of the USA so maybe there is a possibility if they will allow it but I think this time it's too hard to predict since the dollar has different features compared to the euro.

alyssa85

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

My main question is what makes usd so dominant?

Two things - they have never defaulted in the 200 years they have been in existence (like Britain). And they have interest rates at 2% (in the UK interest rates are 0.75%, in Japan -0.1% and in the eurozone -0.5%).

So if you want a stable govt and high interest rates, you would put your money in Treasuries - and in order to buy treasuries you sell your currency and buy dollars - and that strengthens the dollar.

The dollar is going nowhere. Currencies like the euro might disappear if they have another crisis.

Ctn

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Dollar is getting stronger and stronger only against other fiat currencies but it is not getting stronger actually. Because around 100 years ago we used to buy much more things from $1 than what we can buy today. This clearly shows how negative dollar's value has gone and this will go even more down as fiat are meant to be in such a way.

abhiseshakana

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Speaking why the US dollar is very dominant should look back to history how the US dollar can become a world exchange rate (https://www.thebalance.com/bretton-woods-system-and-1944-agreement-3306133)

According to the article above, I conclude that the US dollar has become dominant because:

1. The origin of the dollar can be a world exchange rate, because the United States gold reserves are the largest, so the developed countries of the United States alliance in the second world war agreed to control the local currency with the dollar.
2. The United States is the winner of World War II. The US has a stake in recovery and investment in many countries affected by the war
3. As the winner of the world war, of course, the US military power is the largest, so that the security conditions are relatively more stable so that the economic and political climate in America is more conducive
4. the total value of sales of all goods and services in the United States is still the largest (GDP) so that currency traffic between countries is very high so that the USD is still needed.

Murat

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The US dollar is the most circulated money around the world, It's been established as the most common currency in the world, people export and import product by the payment of Dollar, wherever you go within this planet, US dollar always makes your way easy, since the price of Euro is more but the acceptance of US dollar is more than it so USD is the main element of the monetary market. one important thing relates to this difference that is the supply of Euro is very lower than USD so the dominance of USD is spreading out all over the world, A lot of countries are holding USD for the shake of their reserve. that's why the importance of USD is far away in comparison to other fiat currency.

josephrioveros123

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Quote from: NathanJB on October 14, 2019, 11:19:53 PM

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?

Well, Euro is also facing the same problems which USD is facing. Euro is not working as if there are no problems with the currency at all. USD has been the number one currency in the world. It is in fact the default global currency. And I cannot see it being replaced in the next years to come, not even Euro. Euro is of course dominant in European Union and other parts of the European continent but the rest of the world is using USD as the world's currency. Asia, Africa, the two Americas, etc.

I can say that dollar is still the dominant currency because of the world dominance of US. We can say that US is the strongest country in the world and can have control on many economic systems. On the other hand Euro currency have higher value because. It is use in many country In other word it is on demand. Basic law of supply and demand the more the demand the highier it's value that is my point of view in this topic.

NathanJB

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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?

Well, Euro is also facing the same problems which USD is facing. Euro is not working as if there are no problems with the currency at all. USD has been the number one currency in the world. It is in fact the default global currency. And I cannot see it being replaced in the next years to come, not even Euro. Euro is of course dominant in European Union and other parts of the European continent but the rest of the world is using USD as the world's currency. Asia, Africa, the two Americas, etc.

LUCKMCFLY

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

<...>

It is what is called the hegemony of the dollar since it represents 80% of global transactions and 60% of world reserves, in a nutshell its dominance comes at the end of World War II.

You can expand more here: https://es.cointelegraph.com/news/the-crypto-that-could-end-the-hegemony-of-the-dollar-no-its-not-bitcoin

Although it sounds somewhat ironic, what is most handled is the US dollar, Europe does not care much because Brexit has brought some insecurity in the associated countries, on the other hand, China is a country that has always wanted to have power, especially economic terms and its currency, the Chinese Yuan has not taken it into account for stablecoins, the US dollar and the euro itself if they have been taken into consideration and have included almost all of them.

All this suggests that many stable currencies will come, after Mark Zuckerber announced the launch of Libra, all countries with more power have reacted, therefore, another series of interests has been activated.

In the local Spanish forum I talked about it: https://bitcointalksearch.org/topic/no-es-bitcoin-la-cripto-que-podria-acabar-con-la-hegemonia-del-dolar-5191907

Topic: Fiat currencies - page 7. (Read 1696 times)