Topic: if bitcoin was main currency, what's gonna be the BTC value? - page 4. (Read 504 times)
Actually, we can estimate the value of dollar and other fiat money as well. First of all, the value of currency can be taken as the value of economy of the country that releases this currency. One more thing of how we can estimate their value is to think about how much we can buy for one unit. As bitcoin is the global currency, we would not be able to think about it like value of economy of one country so we would estimate it based on how much we can buy on one BTC
Stable coins are only good for trading.
The reason why someone might not be using normal USD and using stable coins like usdt instead of just paying in general currency is weird. They can very easily use the pegged currency. Rest if bitcoin was the main currency then it would be acting much like other major fiat currencies, like dollars or Euros. Plus it would also be less volatile, the volatility would increase in the first session when the currency would be widely accepted but slowly it would decrease and become constant to cater to the need since a currency should be : widely accepted and non volatile to fill roles of fiat worldwide.
The reason why someone might not be using normal USD and using stable coins like usdt instead of just paying in general currency is weird. They can very easily use the pegged currency. Rest if bitcoin was the main currency then it would be acting much like other major fiat currencies, like dollars or Euros. Plus it would also be less volatile, the volatility would increase in the first session when the currency would be widely accepted but slowly it would decrease and become constant to cater to the need since a currency should be : widely accepted and non volatile to fill roles of fiat worldwide.
It took me 3x reading this thread to draw any conclusions and what the content of the message was that the OP wanted to convey. IMO, Bitcoin would have no value if there were no Dollars (for now). Because the OP said that in the future Bitcoin is expected to be the main currency, of course, it refers to the value that is in Bitcoin, not to the value that is currently converted to Dollars.
Who will control the authority of Bitcoin if later the value applied to payments is no longer Dollars? but rather Bitcoin itself. Because everything can not be predicted, even we ourselves are not 100% sure that makes Bitcoin the single main currency of the world. Given that there is no guarantee or measure of its value.
Who will control the authority of Bitcoin if later the value applied to payments is no longer Dollars? but rather Bitcoin itself. Because everything can not be predicted, even we ourselves are not 100% sure that makes Bitcoin the single main currency of the world. Given that there is no guarantee or measure of its value.
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...
If Bitcoin will be the main currency, it's value should be pegged into something that has a stable value and not the typical skyrocket price that everyone here will assume. There's no way too that a decentralized currency will gonna be used by the government since they don't any protection to it's economy once someone try to manipulate the market unlike fiat that has an infinite supply and regulated properly by the government.
Except that bitcoin being the "main" currency doesn't automatically mean there will not be alternatives. Because what are the chances that bitcoin will be the only existing currency? Near-zero that you might as well say that it's impossible.
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...
The value of money is expressed through its purchasing power, which in turn is expressed in the number of real goods that you can buy with money. If a loaf of bread costs one dollar, that means the value of one dollar would be one loaf of bread. The dollar itself doesn't have an intrinsic value, it is not used for industrial purposes like gold is, so the only use case of the dollar is as a medium of exchange. Similarly, bitcoin doesn't have any additional use cases besides the medium of exchange, but it is superior to both gold and the dollar because it combines the soundness of gold and the transportability of the dollar. People that appreciate this superiority of bitcoin are willingly accepting it in exchange for services and goods. That is why bitcoin has value.-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 where you get the idea that bitcoin can and will become the main currency in the future, because I doubt that it will happen. But in any case it will, I have no idea what will be the value of bitcoin, it still depends on the basic economic concept of law of supply and demand. Again, will the government allow bitcoin to be the main currency though, and we all know the answer for that one, they won't simply let that happen to their USD, and there's no way that any crypto will be for that matter.
I agree with you. And I personally think that if there would be a main currency, that would be something that can be controlled by the government for sure. But in hypothetical manner, I wouldn’t also have an idea as to what will be the value of bitcoin, if it were to be the main currency then. Maybe we’ll just know when we get there, if we ever get there.
That's what i was thinking about bitcoin adaption. If the government has no control over bitcoin, it will never allow it to become the major crypto currency of the world. And if the government has control over it, they will definitely control its price somehow.
In an ideal world, if bitcoin becomes the main currency and is used by every individual of the world, then for sure it price will be more than 10 million dollars or even more.
Not sure where you get the idea that bitcoin can and will become the main currency in the future, because I doubt that it will happen. But in any case it will, I have no idea what will be the value of bitcoin, it still depends on the basic economic concept of law of supply and demand. Again, will the government allow bitcoin to be the main currency though, and we all know the answer for that one, they won't simply let that happen to their USD, and there's no way that any crypto will be for that matter.
I agree with you. And I personally think that if there would be a main currency, that would be something that can be controlled by the government for sure. But in hypothetical manner, I wouldn’t also have an idea as to what will be the value of bitcoin, if it were to be the main currency then. Maybe we’ll just know when we get there, if we ever get there.
Not sure where you get the idea that bitcoin can and will become the main currency in the future, because I doubt that it will happen. But in any case it will, I have no idea what will be the value of bitcoin, it still depends on the basic economic concept of law of supply and demand. Again, will the government allow bitcoin to be the main currency though, and we all know the answer for that one, they won't simply let that happen to their USD, and there's no way that any crypto will be for that matter.
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...
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