I expect Bitcoin to hit way over $100 pretty soon and not because of Bitcoins...

Seal

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Quote from: Graet on September 22, 2012, 12:29:30 AM

Quote from: allinvain on September 22, 2012, 12:22:56 AM

The CAD will do just fine. CAD is a commodity currency as the previous poster said and Canada has a LOT of natural resources to sell - especially oil and natural gas (more than USA) so I think if the USD tanks CAD will be fine but it will hurt our exports massively if the CAD does not also fall in value or remains strong relative to the dollar. I would think that the Bank of Canada will be very tempted to devalue the CAD just to protect the export sector which is VERY much dependent on the US. The other option (a more viable one) is for Canada to develop trade agreements and export more to other parts of the world. We are far too dependent on the US for our economic success.

yep and replace
CAD = AUD
Canada = Australia
and
USA = China
and the same is true for my country

This is causing our politicians some distress - long military and trading ties with the USA but huge economic ties to China now

+1, Australia is rich in natural resource but is very tied to the economic performance of China due to its trading ties. China is Australia's largest customer of coal and natural resource.

I'd really like to see bitcoin traded on other currencies more. At the moment, USD-BTC trade exceeds any other currency by a significant amount. We will start to see more stability then.

cbeast

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Let's talk governance, lipstick, and pigs.

http://rt.com/programs/keiser-report/episode-343-max-keiser/
Halfway through the video, Max talks with Jim Rickards. His analysis of the current direction of global economic issues seems to be accurate, for an economist.

mobodick

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Quote from: Atlas on September 21, 2012, 08:23:14 PM

http://theeconomiccollapseblog.com/archives/china-and-russia-are-ruthlessly-cutting-the-legs-out-from-under-the-u-s-dollar

The whole world is getting pretty pissed off with the US right now. Less suppliers of key commodities and products are taking it. I think this recent rise might just be due to dollar devaluations. Same thing with gold too.

So, my conclusion is Bitcoin isn't going up. The Dollar is going down. The value of a Bitcoin will remain at the same proportion as its usefulness. Let's not even get started with the mess that is the Euro.

Just look out in 2013. It's all going belly up. If the power stays on, Bitcoin will be just fine or higher. I don't know if it's going to be the next gold but there is nothing hurting it at this point.

Nice fantasy.
But as far as i can see bitcoins value has been growing at the same pace (slightly exponential) for almost 2 years now.
No influence from fluctuating dollar.
In fact, bitcoin itself is fluctuating less then before and adheres to this growth pattern pretty nicely.

So maybe you could show some correlations between dollar and bitcoin value?

labestiol

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Merit: 251

Quote from: Atlas on September 21, 2012, 08:23:14 PM

So, my conclusion is Bitcoin isn't going up. The Dollar is going down. The value of a Bitcoin will remain at the same proportion as its usefulness. Let's not even get started with the mess that is the Euro.

Disagree. The world is just starting to hear about bitcoin. It's usefulness is growing, and still have a LOT more room to grow.
Of course the value of USD is going down, but it's minuscule compared to the increase of value of bitcoin.
For BTC to reach 100$ only because of USD devaluation, USD value would have to go down around 85% "pretty soon". Won't happen.

Graet

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Quote from: allinvain on September 22, 2012, 12:22:56 AM

The CAD will do just fine. CAD is a commodity currency as the previous poster said and Canada has a LOT of natural resources to sell - especially oil and natural gas (more than USA) so I think if the USD tanks CAD will be fine but it will hurt our exports massively if the CAD does not also fall in value or remains strong relative to the dollar. I would think that the Bank of Canada will be very tempted to devalue the CAD just to protect the export sector which is VERY much dependent on the US. The other option (a more viable one) is for Canada to develop trade agreements and export more to other parts of the world. We are far too dependent on the US for our economic success.

yep and replace
CAD = AUD
Canada = Australia
and
USA = China
and the same is true for my country

This is causing our politicians some distress - long military and trading ties with the USA but huge economic ties to China now

allinvain

legendary

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The CAD will do just fine. CAD is a commodity currency as the previous poster said and Canada has a LOT of natural resources to sell - especially oil and natural gas (more than USA) so I think if the USD tanks CAD will be fine but it will hurt our exports massively if the CAD does not also fall in value or remains strong relative to the dollar. I would think that the Bank of Canada will be very tempted to devalue the CAD just to protect the export sector which is VERY much dependent on the US. The other option (a more viable one) is for Canada to develop trade agreements and export more to other parts of the world. We are far too dependent on the US for our economic success.

SysRun

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Portland Bitcoin Group Organizer

Quote from: Atlas on September 21, 2012, 08:23:14 PM

http://theeconomiccollapseblog.com/archives/china-and-russia-are-ruthlessly-cutting-the-legs-out-from-under-the-u-s-dollar

The whole world is getting pretty pissed off with the US right now. Less suppliers of key commodities and products are taking it. I think this recent rise might just be due to dollar devaluations. Same thing with gold too.

So, my conclusion is Bitcoin isn't going up. The Dollar is going down. The value of a Bitcoin will remain at the same proportion as its usefulness. Let's not even get started with the mess that is the Euro.

Just look out in 2013. It's all going belly up. If the power stays on, Bitcoin will be just fine or higher. I don't know if it's going to be the next gold but there is nothing hurting it at this point.

Quoted for posterity

byronbb

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HODL OR DIE

Quote from: Atlas on September 21, 2012, 08:38:03 PM

Quote from: adamstgBit on September 21, 2012, 08:33:46 PM

what does this mean for the CAD/BTC exchange rate? or anything other then USD to BTC exchange rate?

no change?

The CAD is pegged to the US dollar. Guess what that means.

China/BTC, if adoption remains the same, will probably decline because the Yuan is severely undervalued. I am not sure about Russia.

Euro/BTC goes up because the Eurozone is an economic shithole.

CAD is very much a commodity currency like AUS. It has not been "pegged" to the USD since 1970.

BIGMERVE

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Even if USD does go down it won't be drastic enough to equal $100 per bitcoin. I'm guessing you're exaggerating. The only thing that could make that happen is USD goes down while bitcoin shoots up.

smoothie

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LEALANA Bitcoin Grim Reaper

Quote from: Atlas on September 21, 2012, 08:23:14 PM

http://theeconomiccollapseblog.com/archives/china-and-russia-are-ruthlessly-cutting-the-legs-out-from-under-the-u-s-dollar

The whole world is getting pretty pissed off with the US right now. Less suppliers of key commodities and products are taking it. I think this recent rise might just be due to dollar devaluations. Same thing with gold too.

So, my conclusion is Bitcoin isn't going up. The Dollar is going down. The value of a Bitcoin will remain at the same proportion as its usefulness. Let's not even get started with the mess that is the Euro.

Just look out in 2013. It's all going belly up. If the power stays on, Bitcoin will be just fine or higher. I don't know if it's going to be the next gold but there is nothing hurting it at this point.

I agree with the bolded statement. Only difference is that in revaluations there are large swings to the up and downside.

Value or purchasing power will increase in bitcoin.

Atlas

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Quote from: adamstgBit on September 21, 2012, 08:33:46 PM

what does this mean for the CAD/BTC exchange rate? or anything other then USD to BTC exchange rate?

no change?

The CAD is pegged to the US dollar. Guess what that means.

China/BTC, if adoption remains the same, will probably decline because the Yuan is severely undervalued. I am not sure about Russia.

Euro/BTC goes up because the Eurozone is an economic shithole.

adamstgBit

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Trusted Bitcoiner

what does this mean for the CAD/BTC exchange rate? or anything other then USD to BTC exchange rate?

no change?

Atlas

jr. member

Activity: 56

Merit: 1

http://theeconomiccollapseblog.com/archives/china-and-russia-are-ruthlessly-cutting-the-legs-out-from-under-the-u-s-dollar

The whole world is getting pretty pissed off with the US right now. Less suppliers of key commodities and products are taking it. I think this recent rise might just be due to dollar devaluations. Same thing with gold too.

So, my conclusion is Bitcoin isn't going up. The Dollar is going down. The value of a Bitcoin will remain at the same proportion as its usefulness. Let's not even get started with the mess that is the Euro.

Just look out in 2013. It's all going belly up. If the power stays on, Bitcoin will be just fine or higher. I don't know if it's going to be the next gold but there is nothing hurting it at this point.

Topic: I expect Bitcoin to hit way over $100 pretty soon and not because of Bitcoins... (Read 2097 times)