If USD falls - page 26. | Bitcointalksearch.org

matchi2011

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Quote from: yoseph on June 14, 2017, 05:26:04 AM

Quote from: shamzblueworld on May 20, 2017, 07:37:17 AM

Like many powerful currencies in the past, USD may fall to ground too, my question is will that effect BTC value? Or is it independent of all other real world or non digital currencies of the world?

Well the bitcoin currency is a crypto currency and is not dependent on any economy so in the even that the US currency does fall, it will just make the bitcoins currency rise up against the US Dollar and that will be it.

I'm not really looking into cryptocurrency when the dollar falls. There are other fiat currency that may take the mantle of the next top currency in the world. Though it will be beneficial especially for most o line transactions, I don't think cryptos are there yet when it comes to dominating the market. But the dollar is currently still the most relevant currency and that may go on for a long time still

Kronos21

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Quote from: ActiveP on June 14, 2017, 01:21:55 PM

If the $$ usd losses value people will look to another currency for trade.The euro is the next in line, but should that fail too, crypto currencies would have every chance to stake a major claim as the main currency for international trade.

Don't forget gold too, it has been there since forever and most currencies are backed by it. This is all hypothetical as it would take a major disaster for the usd to crash to such levels.

Most currencies are not just backed by gold. More specifically, I do not know of any currency in the world which is officially backed by gold reserves of the country. All cash is now a wrapper which at any moment can turn into ashes.

ActiveP

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If the $$ usd losses value people will look to another currency for trade.The euro is the next in line, but should that fail too, crypto currencies would have every chance to stake a major claim as the main currency for international trade.

Don't forget gold too, it has been there since forever and most currencies are backed by it. This is all hypothetical as it would take a major disaster for the usd to crash to such levels.

Angel777

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When USD falls there is a big impact in every countries. Why? Because dollar is the world currency. There is a big problem to those people who are using dollar. And also there is a big effect in the value of bitcoin. Because as far as I know there are many investors from America that can also help to increase the value of bitcoin. So, there is possibilities that bitcoin will dicrease, if USD falls.

yoseph

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Quote from: shamzblueworld on May 20, 2017, 07:37:17 AM

Like many powerful currencies in the past, USD may fall to ground too, my question is will that effect BTC value? Or is it independent of all other real world or non digital currencies of the world?

Well the bitcoin currency is a crypto currency and is not dependent on any economy so in the even that the US currency does fall, it will just make the bitcoins currency rise up against the US Dollar and that will be it.

deisik

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Quote from: coinplus on June 14, 2017, 04:34:17 AM

Quote from: shamzblueworld on May 20, 2017, 07:37:17 AM

Like many powerful currencies in the past, USD may fall to ground too, my question is will that effect BTC value? Or is it independent of all other real world or non digital currencies of the world?

USD has already fallen ever since USA stopped backing dollars by gold.
You may have a dollar in your pocket, but it is just a dollar loan the government owes you, not assurance that you will be paid in its worth. This has lead mistrust on the USD for long and many countries don't rely on USD alone, including some from Europe !

There is a story which fits well here

It is about two friends meeting a hungry tiger in the jungle. Tiger is faster than either of them, but only one will get eaten since the dude who runs faster will make it home alive. This is the same with currencies. The US dollar doesn't need to be strong in and of itself (backed up by gold, in your terms). It just needs to be stronger than other currencies out there to remain at the top. No other currency in the world is backed up by gold either, so what's the deal?

coinplus

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Quote from: shamzblueworld on May 20, 2017, 07:37:17 AM

Like many powerful currencies in the past, USD may fall to ground too, my question is will that effect BTC value? Or is it independent of all other real world or non digital currencies of the world?

USD has already fallen ever since USA stopped backing dollars by gold.
You may have a dollar in your pocket, but it is just a dollar loan the government owes you, not assurance that you will be paid in its worth. This has lead mistrust on the USD for long and many countries don't rely on USD alone, including some from Europe !

deisik

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Quote from: shamzblueworld on May 24, 2017, 12:26:53 AM

Quote from: btcjoin14 on May 20, 2017, 05:53:24 PM

If the United States Dollar loses its value then I am pretty sure that people will begin to use a different Currency (Gold). Since Gold been around for a while I am pretty sure that the people in the IMF want to group Gold with something that they can build as well so they won’t feel so powerless when they make Gold as a payment option.

Bitcoin does not seem like the thing that people will want if it’s not really tied to anything.

Thanks for your comment, now I understand how can this impact the bitcoin value, as you said people might start to buy bitcoin with their USD which will increase its value, so from this we can presume that this will happen with every major currency from the world?
Imagine if people from Kuwait start to hold their wealth in bitcoin... it will shoot to another galaxy then

You didn't ask the correct question

The correct question would be what could potentially make the American dollar hit the floor. And this is what would define the fate of Bitcoin (as well as many other currencies and even countries). If the dollar slowly spirals down (say, for decades to come), for example, due to the US losing its influence in the world (these are two inseparable things, the dollar and US strength), then nothing dramatic is going to happen. The dollar will be gradually replaced with other currencies in the world trade, and Bitcoin will continue as usual (this doesn't mean of course that it can't kick the bucket on its own, dollar fate aside). But it is an unlikely train of events since the US won't leave the scene peacefully, and this is where things get really complicated

Md Saad

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if USD will fall then the whole economy will face a threat to destroy. because everywhere USD is considering as a standard of currency, so it is playing a vital role in the monetary system... without USD you can't imagine international trade or business...

madwica

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Quote from: ufaiz50 on June 13, 2017, 10:57:59 PM

Quote from: mantra on June 13, 2017, 09:11:28 PM

Dollar is the world currency, and as a reference in transactions between countries around the world. If the dollar falls, everything will have an impact, though it may be insignificant, as well as bitcoin, may have little effect on bitcoin, but it will still have an impact

not everyone uses dollars and bitcoin can be convert for other currencies. I think it only affects those who use the dollar in their every transaction and will not affect for btc value.

I think there is have a big effect on the people who are using dollar and earning in bitcoin even bitcoin value was huge their income would be small since value of dollars fall. But i do not think that would happen becauee value of fiat in one country is based on their economy.

cafucafucafu

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Quote from: shamzblueworld on May 20, 2017, 07:37:17 AM

Like many powerful currencies in the past, USD may fall to ground too, my question is will that effect BTC value? Or is it independent of all other real world or non digital currencies of the world?

In my opinion in an economic collapse scenario, cryptocurrencies will take over the role of the most widely accepted and used currency from the current fiat currencies. Why? Because it cannot be manipulated by anyone. You can't print more of it out of thin air, nor can you take out loans of bitcoin from a bitcoin central bank(in fact there isn't even a bitcoin central bank).

Look at Venezuela right now, a lot of people are using bitcoin to store their wealth. Obviously it'll be similar when the dollar collapses. People seek alternatives to put their savings into, nobody wants their savings to lose value due to hyperinflation. This will drive demand and bitcoin price will skyrocket.

jorneyflair

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Quote from: shamzblueworld on May 20, 2017, 07:37:17 AM

Like many powerful currencies in the past, USD may fall to ground too, my question is will that effect BTC value? Or is it independent of all other real world or non digital currencies of the world?

It will definitely fall. Look at the history of fiat currencies, you will not be able to find any currency that lasted forever. There will be either some sort of misadministration from the government which makes the debt cycle all collapse, or a war that makes the government have to fund their military by printing new money as they can't do so with their existing reserves.

Bitcoin is going to be thriving when this happens. Just like gold and silver were valued and sought after when economic collapses occured in Germany during and after WWI, i suspect bitcoin to act the same way. In fact, i'd bet on bitcoin to outperform gold/silver when USD does fail because it is just a lot more portable and divisible.

n0ne

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Quote from: ufaiz50 on June 13, 2017, 10:57:59 PM

Quote from: mantra on June 13, 2017, 09:11:28 PM

Dollar is the world currency, and as a reference in transactions between countries around the world. If the dollar falls, everything will have an impact, though it may be insignificant, as well as bitcoin, may have little effect on bitcoin, but it will still have an impact

not everyone uses dollars and bitcoin can be convert for other currencies. I think it only affects those who use the dollar in their every transaction and will not affect for btc value.

Right now bitcoin has got dependence upon all the currency and with USD it has got more of it, that's why the price is calculated in terms of USD. This will change when the bitcoin direct usage increases. So not only the people converting to USD gets affected, other forms of converting to other currencies too will be affected.

iamTom123

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In a scenario where the American dollar would tumbled or even partially collapsed, we can be sure that Bitcoin would increase in value vis-a-vis the dollar. Plus we can expect that there would be a deluge of Bitcoin demand as money manager can be moving their dollar holdings to the Bitcoin as a safe haven. This had happened before with gold...though gold right now is already flat in terms of returns.

There are now some economists who are predicting that there can be a coming collapse of the mighty dollar as the top currency for international trading. The dollar may experience a heavy devaluation due to unbelievable debts and the continuing quantitative easing (printing of money at the behest of the government). I am just hoping it won't happen during the watch of the Donald.

leyton11

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There are 2 assumptions for this problem:
1. Investor USD will scared and choose Bitcoin because think it can raised up more and good than USD at now=> The price of Bitcoin will up
2. Investors are afraid of the market and want withdrawal of capital to buy something that can hold value, maybe Gold => USD and Bitcoin are fall down!

ufaiz50

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Quote from: mantra on June 13, 2017, 09:11:28 PM

Dollar is the world currency, and as a reference in transactions between countries around the world. If the dollar falls, everything will have an impact, though it may be insignificant, as well as bitcoin, may have little effect on bitcoin, but it will still have an impact

not everyone uses dollars and bitcoin can be convert for other currencies. I think it only affects those who use the dollar in their every transaction and will not affect for btc value.

hase0278

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USD might fall to the ground but it wont really affect btc value. Not all people using bitcoin exchanges btc into us dollars, some change it into their country's fiat currency and because of this, bitcoin conversion will just be discussed not on USD terms but on other fiat's conversion rates. If that happens though, I wonder what currency we will use in discussing BTC price here in forum? Maybe in terms of gold or in terms of another fiat currency which is dominant at that time.

mantra

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Dollar is the world currency, and as a reference in transactions between countries around the world. If the dollar falls, everything will have an impact, though it may be insignificant, as well as bitcoin, may have little effect on bitcoin, but it will still have an impact

czvezda

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The fall of any of the existing fiat currencies wouldn't have any effect on Bitcoin including the US dollar. You might be using the dollar as the exchange for your Bitcoin but it's not th same with everybody. We can as well change from the Bitcoin to dogecoin, litecoin, Ethereum etc.

malikusama

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It is not going to happen because the economy it is the world currency, if it will happen in future then the bitcoin price will be increased more. Because the demand will increase and the number of users as people will choose the alternatives and hope so the best alternative will be bitcoin at that time.

Topic: If USD falls - page 26. (Read 12349 times)