If USD falls - page 28. | Bitcointalksearch.org

roadbits

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Quote from: Mpamaegbu on May 22, 2017, 01:26:45 PM

Quote from: shamzblueworld on May 20, 2017, 08:37:17 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?

If the dollar crashes to ground zero, it will further push the price of Bitcoin higher and occasion the a rise in demand level for the coin. And I don't see such affecting Bitcoin in a negative way. Rather it will bring about an unnecessary hype in its value. Mind you, dollar isn't the only internationally accepted currency of the world. It isn't even the highest currency too.

Yes dollar is just universal currency, and all countries accept this dollar, but apart from this, we have many valuable currencies in this world. And the value of those currencies is higher than this dollar. So if the dollar price goes down, then BTC value will be calculated by other reputed currency. So the value of the BTC will not effect.

Mpamaegbu

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Quote from: shamzblueworld on May 20, 2017, 08:37:17 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?

If the dollar crashes to ground zero, it will further push the price of Bitcoin higher and occasion the a rise in demand level for the coin. And I don't see such affecting Bitcoin in a negative way. Rather it will bring about an unnecessary hype in its value. Mind you, dollar isn't the only internationally accepted currency of the world. It isn't even the highest currency too.

megynacuna

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If the USD falls, it falls alone because it's completely exclusive of Bitcoin and cannot have any effect on the fortunes of Bitcoin because just as USD is regulated by the USgovernment Bitcoin is regulated by the demand and supply created by enthusiasts in the cryptocurrency world.

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Quote from: szpalata on May 22, 2017, 02:23:33 AM

It will have no effect because the two are totally independent of each other and whiles Bitcoin is normally exchanged for the US dollar and vice versa it is not controlled by a central agency like the US dollar and therefore its prices are basically regulated by the demand and supply of the coins I. The system.

I agree. though if it it does, it will have very little effect that would be negligable. btc is not like any other world currencies that heavily rely on the dollar. that's why I also don't believe in these talks that btc may one day replace it or any other regular currency.

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Quote from: shamzblueworld on May 20, 2017, 08:37:17 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?

If USD fall then expect bitcoin to pump to $100,000 bitcoin American will lose it dominant on world economy and one of those countries that adopt bitcoin early will become a dominant countries. By then bitcoin will take it position as the world currencies which cannot be control by one country, group and person.

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It will have no effect because the two are totally independent of each other and whiles Bitcoin is normally exchanged for the US dollar and vice versa it is not controlled by a central agency like the US dollar and therefore its prices are basically regulated by the demand and supply of the coins I. The system.

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Quote from: shamzblueworld on May 20, 2017, 08:37:17 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?

If USD failed, I believe it will affect BTC value since there will be lots of Americans to escape the negative impact of the event and will move on to cyrptocurrency, probably bitcoin. This will make Bitcoin price to grow exponentially because USD value is decreasing and Bitcoin value is increasing. But in terms of value, it won't affect Bitcoin because bitcoin is not pegged in dollar.

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Quote from: shamzblueworld on May 20, 2017, 08:37:17 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?

Me if usd falls has no effect on bitcoin.

Because bitcoin stock exchange.
So bitcoin has no effect on usd.

merchantofzeny

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USD falling? Expect hikes as people rush to dump their money into bitcoins. It's a no-brainer. When your currency is falling you'll move your money to assets that'd still appreciate or at least would be able to retain the value. Aside from the traditional metals, Bitcoin has also become a viable alternative.

Could this also be the reason people are buying those stupid-looking paintings? Grin

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Quote from: jc89 on May 21, 2017, 04:35:55 PM

Quote from: shamzblueworld on May 20, 2017, 08:37:17 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?

An absolute no.

USD is not the key that dictates the value of bitcoin. Though the conversion of bitcoin to fiat is reflected in terms of dollars, dollar is just the reference and not the sole value indicator. Bitcoin's value is dependent on the demand and supply of bitcoin in the market so regardless of the reference, bitcoin will not change in value if the reference decreased/increased in value. It is just like the exchange in fiat (currency), if a currency inflates/deflates it will not affect any currency's value.

Fantastic explanation, it should be made clear to all that Bitcoin is totally independent of ever Altcoin or fiat currency and no matter how it's demand or supply may turn out its value is determined as a result and not by what happens to the USD.

jc89

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Quote from: shamzblueworld on May 20, 2017, 08:37:17 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?

An absolute no.

USD is not the key that dictates the value of bitcoin. Though the conversion of bitcoin to fiat is reflected in terms of dollars, dollar is just the reference and not the sole value indicator. Bitcoin's value is dependent on the demand and supply of bitcoin in the market so regardless of the reference, bitcoin will not change in value if the reference decreased/increased in value. It is just like the exchange in fiat (currency), if a currency inflates/deflates it will not affect any currency's value.

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Quote from: shamzblueworld on May 20, 2017, 08:37:17 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?

This is a good question.
Look we are just using the USD to define bitcoin price not its value. If the EURO dont fall we could use that also.
But as regards to the fall of USD it will affect much. I dont know what could happen. It will either increase or decrease the value of bitcoin.
If people sees how much a fall USD takes they will rely on other commodities to still make their money rolling. Commodities dont rely with USD they are also just priced with USD because of its popularity in the market.

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Bitcoin is independent regarding FIAT currencies and their values. Bitcoin is impacted by other things, like news what happens in the crypto world, supply and demand, selling and buying, trading etc. The problem with USD is if the Trump problems are not solved it will continue to go down for the moment but I don't think anymore down than this. Eur is 1.12 USD. No room for more falling of the dollar as eurozone economy is not that great compared to the USA.

Harlot

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Well in the first place Bitcoin's value is based on Fiat Currency which means if USD goes down it might as well make Bitcoin's USD equivalent go down as well. And I don't think that the first priority of USD investors is exchanging their assets to Bitcoin as they are looking for another Fiat currency alternative that is much more stable than a cryptocurrency. Also on a market perspective one market in this case a currency of a develop country will also influence other currencies in a bad way.

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Quote from: shamzblueworld on May 20, 2017, 08:37:17 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?

Bitcoin is theortical independent of USD. It prices and ecosystem depends upon its usage, demand, supply and other factors. But the whole world is directly or partially related to each other. How can we say bitcoin is independent of USD when the easiest way to acquire bitcoin is buying it for USD!

equator

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In the past when ever their is any downfall in USD most of them just switch it to gold, silver as this are always alternative to main currency, but now the scenario is different after seeing the potential of bitcoin and more country coming forward and accepting bitcoin and more over bitcoin is considered as investment option so who ever knows about cryptocurrency will surely switch to this coins to invest it to get safe from USD downfall

Mometaskers

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It would be safe to assume that there would be so increase. During time of economic uncertainty, people start buying items they believe would still appreciate in value, or at least wouldn't lose value as much, so that their property would still be safe. One of those is bitcoins, which despite a few problems is starting to look good. For example, it is very easy to take with you, in case you ever need to move out of your country.

Quote from: pitham1 on May 20, 2017, 10:53:02 PM

Quote from: shamzblueworld on May 20, 2017, 08:37:17 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?

Bitcoin is independent. We just have to look at the purchasing power of Bitcoin, not its value in USD terms.
More than anything, if the USD falls there will be a vacuum at the world level. If Bitcoin's adoption is high enough, Bitcoin may fill that vacuum.

I hope so. The high transaction fees and long confirmation time seem to be hindering it though.

makulo123

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USD is as many other major currencies one of the primary pillars that hold the economy... BUT we can see that many factors make the USDollar index fall down rapidly as a lot of them is being printed and bonds are being released, the Inflation of these major currencies is the problem...
I believe that many people will see this as a threat prices will be constantly big and big and people will start questioning: "Is it even worth buying this with dollar, what IF I can use another less inflated currency than USD?!" and that's where the Bitcoin and other altcoins come in. God bless cryptoworld!

icecube45

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I'm not sure if the dollar falls it will affect the bitcoin price directly. Because both I think differently, as far as I know if the dollar falls it will affect the value of other currencies. As in the economic crisis a few years ago when the dollar price fell a lot of people who store wealth with gold, maybe that's also with bitcoin. So when the dollar falls a lot of people are storing wealth with bitcoin and certainly indirectly adoption of bitcoin increases and maybe prices will rise.

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Quote from: Farcoin12 on May 20, 2017, 11:52:56 PM

Quote from: shamzblueworld on May 20, 2017, 08:37:17 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?

The value of Bitcoin will not change if USD falls to the ground. It is like right now. 1 Bitcoin is worth 2000 USD, but worth 2700 AUD. Bitcoin will just be worth more USD when USD falls.

Yeah that is pretty much all that will happen. The value of Bitcoin will not be affected but the price of Bitcoin will increase, if you are talking about USD.

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