I don't see any chances for the bitcoin to become the main currency as we still have many people in this world know don't know about it, and on the top, as the bitcoin is uncontrollable, how would you control the economy with it plus with bitcoin you won't pay taxes to the government then how will they improve the development of their country?.
Many questions may occur. For me, it's about the value. It's all about how I manage the government and the economy.
Topic: if bitcoin was main currency, what's gonna be the BTC value? - page 2. (Read 504 times)
BTC was created with a new transaction system without a central authority. The BTC can be used in the future as the main currency that we gonna pay with. But what's gonna be the value of a main currency? What's the value of dollars or eur?
-Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.
If BTC is gonna be used in future, it not gonna cost anything, because the BTC is gonna be the value. It not gonna be like Bitcoin cost 50,000dollars... Bitcoin not gonna cost anything because Bitcoin IS the value. But that's probably not gonna happen. We not gonna pay with BTC but with stable coins like USDT...
-Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.
If BTC is gonna be used in future, it not gonna cost anything, because the BTC is gonna be the value. It not gonna be like Bitcoin cost 50,000dollars... Bitcoin not gonna cost anything because Bitcoin IS the value. But that's probably not gonna happen. We not gonna pay with BTC but with stable coins like USDT...
Well, I don't think any cryptocurrency is going to be the main currency of the day in the future apart from what you just explained, we should understand that no Government can be the owner of Bitcoin and since the strength of a Nation is a factor of the strength or Value currency of her currency and this cannot be claimed in terms of Bitcoin by any Government, it is rearly that they will make Bitcoin their main currency. People and Investment can accept Bitcoin and other cryptos as it is now but that don't mean it will be the case across.
-Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.
I don't agree with your answer here. This might have been true if Bitcoins were around in the 70s or 80s but not today. The world is reducing its dependency on the US Dollar every year. To say that the Dollar is now the value of a independent Internet currency is not right. While dollar plays a role in the price of Bitcoins I think that we are more independent now with crypto currencies. If it was really just the US Dollar value than why wouldn't we keep holding fiat money? With cryptos we are independent of financial influence of the government and their pressure to issue new debt and print money.
I was one of the first people to believe in bitcoin's growth, but hadn't thought about becoming a major currency yet. Honestly I'm a little afraid it will have an impact on the value of bitcoin itself. Even if that were the case, I would agree with "paying with stable coins".
I think the question is very conceptual, because when saying value encompasses many things, for my value it is different than price, also based on the fact that it is based on the Law of Supply and Demand, things change a lot, the BTC as long as it has its support based on the supply-demand, whale effect and Fundamentals, the value can be very high, it is almost something very difficult to calculate, at least for me, I would see it as a capital gain appraisal and they are very complicated to calculate, for me the The price would be very high, to be honest the price for me should be at least $ 150k and the value would have to do the required study.
BTC was created with a new transaction system without a central authority. The BTC can be used in the future as the main currency that we gonna pay with. But what's gonna be the value of a main currency? What's the value of dollars or eur?
-Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.
If BTC is gonna be used in future, it not gonna cost anything, because the BTC is gonna be the value. It not gonna be like Bitcoin cost 50,000dollars... Bitcoin not gonna cost anything because Bitcoin IS the value. But that's probably not gonna happen. We not gonna pay with BTC but with stable coins like USDT...
-Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.
If BTC is gonna be used in future, it not gonna cost anything, because the BTC is gonna be the value. It not gonna be like Bitcoin cost 50,000dollars... Bitcoin not gonna cost anything because Bitcoin IS the value. But that's probably not gonna happen. We not gonna pay with BTC but with stable coins like USDT...
I think you are asking, if BTC were the only currency in existence in the world, what would it's purchasing power be? How can that be determined? The answer to that is this: the purchasing power of a currency is the quantity or number of that currency in existence divided by an accounting of all the physical wealth that exists. So in this case:
18,923,556 BTC / [total accounting of all physical wealth such as all real estate, all physical tangible resources, all valuable physical assets that exist] = the purchasing power of BTC
In this case the total accounting of all the world's wealth adds up to $360,603 billion US dollars.
18,923,556 BTC / $360,603,000,000,000 = 5.24x10^-8 BTC, or 5.24 satoshis, per $1.00
In other words, 5.24 satoshis would represent the wealth that 1 USD used to represent. So in the United States at current housing prices, you would need roughly 1,572,000 satoshis to buy a house.
Someone check on my math.
I do not think this will happen though.
BTC was created with a new transaction system without a central authority. The BTC can be used in the future as the main currency that we gonna pay with. But what's gonna be the value of a main currency? What's the value of dollars or eur?
-Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.
If BTC is gonna be used in future, it not gonna cost anything, because the BTC is gonna be the value. It not gonna be like Bitcoin cost 50,000dollars... Bitcoin not gonna cost anything because Bitcoin IS the value. But that's probably not gonna happen. We not gonna pay with BTC but with stable coins like USDT...
Being optimistic isnt bad but dont consider for this thing to happen because it wouldnt happen even on my dreams on which Dollar or fiat in general would lost its value yet we know that as long government does exist -Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.
If BTC is gonna be used in future, it not gonna cost anything, because the BTC is gonna be the value. It not gonna be like Bitcoin cost 50,000dollars... Bitcoin not gonna cost anything because Bitcoin IS the value. But that's probably not gonna happen. We not gonna pay with BTC but with stable coins like USDT...
then it wont surely happen. Why not they could both co-exist to each other? We do have some options to take whether dealing with typical centralized fiat or dealing with decentralized things like crypto.
At least we do have a choice or option to take and we shouldnt really bother ourselves or thinking off that there would be some replacement thing that would happen.
Thats not gonna happen no matter what.
Indeed, if BTC become the mainstream currency of the world all the other assets' values shall be denominated in BTC value. But Bitcoin could end up only becoming the main store-of-value asset and we'd use a more stable currency for day-to-day payments.
-Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.
I don't agree with your answer here. This might have been true if Bitcoins were around in the 70s or 80s but not today. The world is reducing its dependency on the US Dollar every year. To say that the Dollar is now the value of a independent Internet currency is not right. While dollar plays a role in the price of Bitcoins I think that we are more independent now with crypto currencies. If it was really just the US Dollar value than why wouldn't we keep holding fiat money? With cryptos we are independent of financial influence of the government and their pressure to issue new debt and print money.
i still believe they can be an option and i think an option is better than being the main payout.
there will be a lot of problems when they are used as the main payment tool, one of which is that the government is overheating because they certainly won't be able to regulate bitcoin easily
On the other hand, they also don't need that, what they need is only recognition regardless of whether it is used as a legal tender or not, it is a continuation after the acknowledgment.
there will be a lot of problems when they are used as the main payment tool, one of which is that the government is overheating because they certainly won't be able to regulate bitcoin easily
On the other hand, they also don't need that, what they need is only recognition regardless of whether it is used as a legal tender or not, it is a continuation after the acknowledgment.
You have a point. And I think that we, bitcoin enthusiasts, would be the happiest if it were to be an option, right? Although, I doubt that bitcoin would come top of their list since you already mentioned that they will probably have problems regulating it. Nevertheless, you are right that the acknowledgment is a big factor in pushing this through, if it were to really happen.
take a look at some countries that have even made them a payment option like elsavador. they even proudly say that they are buying bitcoin especially now that it is priced well enough to add to the load.
If bitcoin will be the main currency then BTC value will be high and it's price will touch to moon. And all bitcoin investors will be millinoers to billioners. And there will the big change come in cryoto market.
bitcoin will be the main currency in the virtual world not in the real world, and that's the rule, because the value of bitcoin is difficult to read if you don't use fiat, the value of bitcoin is only 1 and the smallest fraction of shatosi, in contrast to fiat which has value.
if you ask how much is the value of BTC in dollar or eur value? my answer is btc only 1 BTC can not be measured by usd or eur if you expect BTC to be your main currency
Its true that btc is a virtual currency but it has a really value ,No one can ignore it .I just want to explain it on different way that if it is count as a shatoshi still it has a value .We are using paper currency but on banking system it still count as a digit like shatoshi .I think it will be the huge point for it tell as a currency .We can use it as a currency but the point is that the volatility of the market .If it goes down we will be very thoughtful for that to make plan how we will use it .There is not more thing concern on it we can really make transaction and exchange like euro and USD on btc so nothing more are there as well .On the hand to use btc government will need to make new rules and regulation so that the things is tough a bit but i think it is really possible to use as a main currency . if you ask how much is the value of BTC in dollar or eur value? my answer is btc only 1 BTC can not be measured by usd or eur if you expect BTC to be your main currency
We can't add a price to something with Satoshi yet without knowing the value of it by USD. There has to be a value in USD or fiat before we can add value in BTC. There is no way we can do that today and we may never do that because today the development is already moving to digital fiat which means there is still going to be fiat money, making BTC not the main currency.
If we could just sell a piece of land for 1BTC regardless of how big the land is, that's what makes it the main currency however that's now anyone would want.
If we could just sell a piece of land for 1BTC regardless of how big the land is, that's what makes it the main currency however that's now anyone would want.
If BTC was the main currency then it will not have fiat value, one btc will remain so without any market volatility because BTC is pegged to fiat people only see the fiat value of BTC but once this is removed people will then see BTC as it is, however, this can only happen with the approval of the government and we all know the stand of majority of the government of each country.
Certainly, if it will going to happen somewhere in the future, the value of bitcoin stays the same and will not follow the value of any fiat because as @pearl12 said, bitcoin is pegged to fiat and not the other way around.
But on other hand, I'd still definitely doubt that it will be the case and that countries/governments will likely allow Bitcoin to be their main currency. And on the first place, its market is too volatile to make it as a main and second, definitely they won't allow that to happen as bitcoin is fully decentralized already and local fiats will still exists as it's still backed by the government itself.
If BTC is gonna be used in future, it not gonna cost anything, because the BTC is gonna be the value. It not gonna be like Bitcoin cost 50,000dollars... Bitcoin not gonna cost anything because Bitcoin IS the value. But that's probably not gonna happen. We not gonna pay with BTC but with stable coins like USDT...
If it's the main currency then it's going to have a cost and the same as its value. Although in the past, I've always believed that bitcoin can kick and replace the traditional fiat system and it's going to be the main currency of all, I think we're still far from seeing that into reality.But I disagree at the last part, we're paying with bitcoin, we're using bitcoin just as the fiat, dollar, stable coins and any other medium of exchange because it's the main purpose of bitcoin.
BTC was created with a new transaction system without a central authority. The BTC can be used in the future as the main currency that we gonna pay with. But what's gonna be the value of a main currency? What's the value of dollars or eur?
-Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.
If BTC is gonna be used in future, it not gonna cost anything, because the BTC is gonna be the value. It not gonna be like Bitcoin cost 50,000dollars... Bitcoin not gonna cost anything because Bitcoin IS the value. But that's probably not gonna happen. We not gonna pay with BTC but with stable coins like USDT...
-Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.
If BTC is gonna be used in future, it not gonna cost anything, because the BTC is gonna be the value. It not gonna be like Bitcoin cost 50,000dollars... Bitcoin not gonna cost anything because Bitcoin IS the value. But that's probably not gonna happen. We not gonna pay with BTC but with stable coins like USDT...
I don’t think Bitcoin being the “main” currency could happen and it’s impossible in my opinion because of the price’s volatility and unpredictability. Fiat is still going to be the main currency and it will not go anywhere because the banks would remain for a very long time. Both fiat and crypto can coexist because they have different use cases.
BTC was created with a new transaction system without a central authority. The BTC can be used in the future as the main currency that we gonna pay with. But what's gonna be the value of a main currency? What's the value of dollars or eur?
-Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.
If BTC is gonna be used in future, it not gonna cost anything, because the BTC is gonna be the value. It not gonna be like Bitcoin cost 50,000dollars... Bitcoin not gonna cost anything because Bitcoin IS the value. But that's probably not gonna happen. We not gonna pay with BTC but with stable coins like USDT...
-Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.
If BTC is gonna be used in future, it not gonna cost anything, because the BTC is gonna be the value. It not gonna be like Bitcoin cost 50,000dollars... Bitcoin not gonna cost anything because Bitcoin IS the value. But that's probably not gonna happen. We not gonna pay with BTC but with stable coins like USDT...
I don’t think Bitcoin being the “main” currency could happen and it’s impossible in my opinion because of the price’s volatility and unpredictability. Fiat is still going to be the main currency and it will not go anywhere because the banks would remain for a very long time. Both fiat and crypto can coexist because they have different use cases.
i still believe they can be an option and i think an option is better than being the main payout.
there will be a lot of problems when they are used as the main payment tool, one of which is that the government is overheating because they certainly won't be able to regulate bitcoin easily
On the other hand, they also don't need that, what they need is only recognition regardless of whether it is used as a legal tender or not, it is a continuation after the acknowledgment.
there will be a lot of problems when they are used as the main payment tool, one of which is that the government is overheating because they certainly won't be able to regulate bitcoin easily
On the other hand, they also don't need that, what they need is only recognition regardless of whether it is used as a legal tender or not, it is a continuation after the acknowledgment.
You have a point. And I think that we, bitcoin enthusiasts, would be the happiest if it were to be an option, right? Although, I doubt that bitcoin would come top of their list since you already mentioned that they will probably have problems regulating it. Nevertheless, you are right that the acknowledgment is a big factor in pushing this through, if it were to really happen.
It would be difficult if not impossible if Bitcoin became the main currency. Such a fluctuating value will continue in the future, but I also don't know how exactly. Bitcoin is difficult to predict even though a professional even their predictions are sometimes still wrong. Even if Bitcoin becomes the main currency, no one knows what its value will be, whether it will remain volatile or not and how much its value will still be high or even down. But for me personally, Bitcoin is more suitable as an investment because it is more promising.
BTC was created with a new transaction system without a central authority. The BTC can be used in the future as the main currency that we gonna pay with. But what's gonna be the value of a main currency? What's the value of dollars or eur?
-Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.
If BTC is gonna be used in future, it not gonna cost anything, because the BTC is gonna be the value. It not gonna be like Bitcoin cost 50,000dollars... Bitcoin not gonna cost anything because Bitcoin IS the value. But that's probably not gonna happen. We not gonna pay with BTC but with stable coins like USDT...
Not sure what you mean here. First of all, what does "main currency" mean? Bitcoin is a currency. Primary or secondary, doesn't matter. Bitcoin won't be replacing fiat anytime soon. Both fiat and bitcoin (including other crypto currencies) will be used along side with fiat currency. Are you trying to say that 1 bitcoin = 1 bitcoin? Yeah, this is what we want, but right now that is impossible. The market is very volatile and for our convenience we have to measure the value using fiat or stable currencies. Maybe in the future a cup of coffee will cost half a satoshi, but for now its going to cost around $2. -Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.
If BTC is gonna be used in future, it not gonna cost anything, because the BTC is gonna be the value. It not gonna be like Bitcoin cost 50,000dollars... Bitcoin not gonna cost anything because Bitcoin IS the value. But that's probably not gonna happen. We not gonna pay with BTC but with stable coins like USDT...
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