The OP's premise is good but there's another reality I want to add to the discussion.
If the value of the dollar is going down, it'll cost more to buy things everyone needs (i.e., groceries, gas, etc.). If salaries don't increase and the cost of goods goes up people will need to use their savings to buy what they need. This savings is, theoretically, what could have been converted into BTC. But it won't be available because it will be needed to cover the difference in the cost of goods.
Topic: Poll: What will the USD/BTC exchange rate do as the dollar collapses? - page 2. (Read 1291 times)
December 22, 2014, 07:59:54 PM
December 22, 2014, 11:50:06 AM
over the next 5 years, demand for bitcoin will greatly increase and the price will follow
demand for $ will greatly decrease and it's value will follow imo
I look forward to a time when we're not even interested in cashing altcoins out for shitty fiat and more services and goods will be on offer, not just for bitcoin for some of the better alts too
bitcoin as a single player is not healthy
demand for $ will greatly decrease and it's value will follow imo
I look forward to a time when we're not even interested in cashing altcoins out for shitty fiat and more services and goods will be on offer, not just for bitcoin for some of the better alts too
bitcoin as a single player is not healthy
December 22, 2014, 10:11:18 AM
Consider that hyperinflation has more in common with deflation than it does with inflation. Also consider that the prices of things people need often follow a different trajectory than the prices of things people want.
December 22, 2014, 10:05:41 AM
I hope that we will see BTC break its ties with the fuat currency US but that's wishful thinking.
As long as BTC doesn't plummet with USD then we should be grateful
As long as BTC doesn't plummet with USD then we should be grateful
December 22, 2014, 10:04:30 AM
I've read that the conditions that caused the market collapse in 2008 are worse today than they were then, and the US government's ability to keep the dollar solvent is diminished because of the FED's constant printing of money,
So consider the case where there's a major financial catastrophe in which people and nations loose confidence in the dollar. Everyone will scramble to move their dollar assets into something else. Most notably, precious metals, but also other currencies if any are less affected.
I'm very curious to know how bitcoin will fare.
I'm guessing that people well see bitcoin as an additional instrument to flee to. Something like gold. And that therefore we will see one bitcoin exchange for a great many more dollars than we see today.
So what do you think? What factors that might affect the exchange rate?
So consider the case where there's a major financial catastrophe in which people and nations loose confidence in the dollar. Everyone will scramble to move their dollar assets into something else. Most notably, precious metals, but also other currencies if any are less affected.
I'm very curious to know how bitcoin will fare.
I'm guessing that people well see bitcoin as an additional instrument to flee to. Something like gold. And that therefore we will see one bitcoin exchange for a great many more dollars than we see today.
So what do you think? What factors that might affect the exchange rate?
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