Pricing in Dollar - Pricing in Bitcoin

bitgolden

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Quote from: aoluain on March 05, 2021, 07:54:08 AM

I'm pretty sure we all (or the majority) price Bitcoin in Dollars regardless of which
country we are in, I stand to be corrected on this though.

We are all certain that the Dollar and other FIAT are going to crash in the near future
or after we get to grips with this pandemic and financial aid ends. When this happens
we wont be pricing Bitcoin in Dollars.

What will we be using, Chinese Yuan?

or will we be pricing everything in Bitcoin?

So how did you get to know that the the USD and other fiats are going to crash in the near future because of the pandemic? And why do you even say Chinese Yuan, like it is the only fiat that can’t crash? Huh

Hmm.

Well, in my country we price bitcoin in our native currency and we also price it in dollars, though when I want to sell to peer to peer exchanges I price it in dollars, that way I can as well set the rate at which they will buy it in dollars, for example; let’s say that the rate of one dollar to my native currency is $1 = 2, I can tell them to buy at $1 = 2.5. So that’s the good thing about pricing in dollars for me. And what I have explained now is the reason I always prefer selling to peer to peer exchangers, than making use of big exchanges because big exchanges would usually sell it a normal rate which would be way less than what I am going to get from P2P.

bitterguy28

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Quote from: sujon5 on April 12, 2021, 01:27:21 AM

Quote

We are all certain that the Dollar and other FIAT are going to crash in the near future
or after we get to grips with this pandemic and financial aid ends. When this happens
we wont be pricing Bitcoin in Dollars.

What will we be using, Chinese Yuan?

But Yuan is fiat too...
Don't hope that fiat collapse will happen in 2 or 5 years. It's more likely we will use CBDCs soon, and Bitcoin will be priced in digital Euro and dollar.

Where did he Get that Fiat is only compose of Dollar and Yuan is not considered as Fiat lol.

Fiat will never Collapse but economy is in various countries.

Quote from: acquafredda on March 17, 2021, 01:51:39 PM

Fast forward ten years and this will be a problem for the past as the whole world will rely on satoshi prices for every good and service availbale on Earth.
How much is that coffee? 30 sats! cool.
Hey man, yesterday I bought my new fancy beach house for 1M satoshis! How cool is that?
Dreaming, right?

Nope that's not dreaming Instead that is the future.

sujon5

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Quote

We are all certain that the Dollar and other FIAT are going to crash in the near future
or after we get to grips with this pandemic and financial aid ends. When this happens
we wont be pricing Bitcoin in Dollars.

What will we be using, Chinese Yuan?

But Yuan is fiat too...
Don't hope that fiat collapse will happen in 2 or 5 years. It's more likely we will use CBDCs soon, and Bitcoin will be priced in digital Euro and dollar.

Argoo

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Quote from: aoluain on March 05, 2021, 07:54:08 AM

I'm pretty sure we all (or the majority) price Bitcoin in Dollars regardless of which
country we are in, I stand to be corrected on this though.

We are all certain that the Dollar and other FIAT are going to crash in the near future
or after we get to grips with this pandemic and financial aid ends. When this happens
we wont be pricing Bitcoin in Dollars.

What will we be using, Chinese Yuan?

or will we be pricing everything in Bitcoin?

The dollar and other national currencies of states always periodically have problems with high inflation, which is sometimes even followed by economic crises. However, they then lead to a healthier economy, and everything repeats itself in the next cycle. Therefore, you shouldn't worry about fiat, nothing will happen to it. The dollar has problems, but they have been, are and will be, and the dollar has existed for more than one century. Bitcoin will have to be valued in dollars, euros, yuan and other currently existing currencies of states for a long time.

Pom_bensin

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Quote from: aoluain on March 05, 2021, 07:54:08 AM

I'm pretty sure we all (or the majority) price Bitcoin in Dollars regardless of which
country we are in, I stand to be corrected on this though.

We are all certain that the Dollar and other FIAT are going to crash in the near future
or after we get to grips with this pandemic and financial aid ends. When this happens
we wont be pricing Bitcoin in Dollars.

What will we be using, Chinese Yuan?

or will we be pricing everything in Bitcoin?

Bitcoin and dollar conversion is better nowadays, because all exchanges provide this option. but it seems that the yuan cannot yet be realized because in all exchanges there is no BTC / YUAN conversion, maybe it only exists in China, this happens. so I think now the dollar is the main requirement and the best for current transactions.

acquafredda

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Fast forward ten years and this will be a problem for the past as the whole world will rely on satoshi prices for every good and service availbale on Earth.
How much is that coffee? 30 sats! cool.
Hey man, yesterday I bought my new fancy beach house for 1M satoshis! How cool is that?
Dreaming, right?

jostorres

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Quote from: aoluain on March 05, 2021, 07:54:08 AM

What will we be using, Chinese Yuan?

Depends if the Chinese Yuan is a standard for everyone in the coming time, it's hard but I won't rule out the possibility. The US Dollar which we commonly refer to as USD is actually a standard in the market given the strong financial status of the US and hence most countries compare their growth according to how they are doing against the USD.

Quote from: aoluain on March 05, 2021, 07:54:08 AM

or will we be pricing everything in Bitcoin?

No, I don't think there will be pricing in Bitcoin ever because there is a huge difference between assets and currencies, assets have value only until they can be traded for currencies while currency is what government recognizes as legal. Bitcoin's value is determined by how much fiat one is able to spend to buy it.

Pricing in Bitcoin is a refreshing idea and a great explanation of how USD might get removed as the primary currency for determining bitcoin's value by The Pharmacist.

LUCKMCFLY

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Quote from: goldade on March 12, 2021, 03:11:02 PM

I believe that bitcoin is priced in US dollars because it's the most accepted currency in the world and it's used in international trades among countries since they use different currencies.
I do not think bitcoin will be priced in Yuan when dollars and other fiats collapse. This is simply because Yuan itself is a fiat and will also collapse should the US dollar collapse.
In case of such collapse of fiat currencies, I think bitcoin will be priced in USDT. USDT, unlike the dollar, is crypto but just like dollar, it's stable. 1 USDT will always be 1 USDT no matter what the price of bitcoin is.

You are right, but China has its digital currency already made, in a global collapse it is very likely that it will be traded with its stablecoin, now after having emerged from the pandemic, and with its economic recovery so fast it is most likely that if it is not the USD, come on that Chinese stablecoin.

We do not know if what is brewing by the main fiat currencies is higher inflation, the problems worldwide increased with the pandemic. Regarding USDT you are right, it is crypto, the only thing is that the world has to know the USDT, the most commercial thing is the Chinese stablecoin, somehow I think they could trust that currency more, of course it is my assumption.

AndySt

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Quote from: goldade on March 12, 2021, 03:11:02 PM

I believe that bitcoin is priced in US dollars because it's the most accepted currency in the world and it's used in international trades among countries since they use different currencies.
I do not think bitcoin will be priced in Yuan when dollars and other fiats collapse. This is simply because Yuan itself is a fiat and will also collapse should the US dollar collapse.
In case of such collapse of fiat currencies, I think bitcoin will be priced in USDT. USDT, unlike the dollar, is crypto but just like dollar, it's stable. 1 USDT will always be 1 USDT no matter what the price of bitcoin is.

Never say never. We can guarantee and reliably assert only about the current moment in time and the situation in any area can change dramatically in a short period of time. I think that with the collapse of the main fiat currencies, there will still be some kind of fiat currency that everyone will focus on. The fiat currency of a sufficiently significant country, whose economy and currency will be less affected by the collapse. By the way, the current yuan is less freely convertible than the dollar, and this is now a disadvantage, but in a hypothetical collapse, it can be a plus.

goldade

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I believe that bitcoin is priced in US dollars because it's the most accepted currency in the world and it's used in international trades among countries since they use different currencies.
I do not think bitcoin will be priced in Yuan when dollars and other fiats collapse. This is simply because Yuan itself is a fiat and will also collapse should the US dollar collapse.
In case of such collapse of fiat currencies, I think bitcoin will be priced in USDT. USDT, unlike the dollar, is crypto but just like dollar, it's stable. 1 USDT will always be 1 USDT no matter what the price of bitcoin is.

RealMalatesta

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Quote from: aoluain on March 05, 2021, 07:54:08 AM

We are all certain that the Dollar and other FIAT are going to crash in the near future
or after we get to grips with this pandemic and financial aid ends. When this happens
we wont be pricing Bitcoin in Dollars.

I really do not think that pricing in anything could be that bad as long as it is executed well enough, there is really no worry about what you would be doing because we are in a world where people are making a profit from these deals and they may want to deal with USD because they want to have a lot more money, and that's totally understandable, I wouldn't be against it at any time, and that means we could also understand people who want to price in bitcoin because they want to own more and more bitcoin as well for their future.

Long story short there is nothing wrong, you could go with fiat, you could go with bitcoin, you could go with gold, you could pick a stock and go with that, hell there was a person who calculated bitcoin against a tesla car, not for any special reason but just to check how bitcoin was going basically. So there is nothing wrong as long as you use it properly.

Sterbens

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Rely on Yuan just because China is already a country to count on? I'm not sure because there are still many countries that don't like Yuan. In fact, the rule may even apply to countries that have surrendered to China. and were forced to use Yuan if they still wanted to lend to improve the country's economy. Debt has a significant impact because it is bound by Yuan. while bitcoin we still have which is not trapped by Yuan.

fullhdpixel

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Quote from: aoluain on March 05, 2021, 07:54:08 AM

We are all certain that the Dollar and other FIAT are going to crash in the near future
or after we get to grips with this pandemic and financial aid ends. When this happens
we wont be pricing Bitcoin in Dollars.

What will we be using, Chinese Yuan?

or will we be pricing everything in Bitcoin?

Yes where I live we price Bitcoin in dollars, though there is how they really calculate it; first of all of you’re selling it P2P they will ask you how much the coins you’re selling is worth in dollars, and let’s say for example the coins are worth $100, they will then tell you how much they are buying or selling in dollars per our currency, and if you agree to the rate per dollar, then they will do business with you. That’s how it works.

I don’t know how you put it your own country, but that’s how we do it here, we don’t price with any other currencies. And as for what you have said about fiat crashing in future, I don’t think anything as such will happen to the extent that fiats will stop existing.

el kaka22

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Quote from: ultrloa on March 11, 2021, 05:56:26 AM

Most of the country use the dollar value when they are doing a transaction overseas so its nonsense to think about it crashing since by now dollars still the strongest currency, maybe for now their economy are struggling but remember we are talking about USA here and they can easily bounce back once everything is in good state. America have strong economic leaders so maybe we cannot see any of it overcomes especially bitcoin since many wouldn't like to happen especially the banking system.

Most of which country? I do not think that European nations use dollars when they are doing any international business, they have euro and its quite strong, and neither does England neither, their Pound is quite strong as well, I do think that USA uses dollars a lot, and other third world nations does use it, and China uses it as well I think when they are taking money from Americans, but aside from that USD is not strong at all, not like it used to anyway, people try to use other currencies, even bitcoin "grew" faster than dollars if you look at how much it was used and how much it is used now.

That is why I think pricing in bitcoin could be a better idea, after all dollars will not make you more profit but having bitcoin could mean that you could have more money in the long run. That is why picking bitcoin over USD has always been my favorite.

ivankoh

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Why does Bitcoin value the majority in the Dola? because the dollar remains a valuable currency and becomes the world's most popular fiat currency. Even exchange pairs are priced according to that standard but instead of dollars it will be in USDT. In my opinion, fiat remains a very important component and the foreseeable future will not be replaced. So, by default, when you live, bitcoin will be priced in that country's independent currency. Even gold, diamond, oil will be the same.

ultrloa

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Most of the country use the dollar value when they are doing a transaction overseas so its nonsense to think about it crashing since by now dollars still the strongest currency, maybe for now their economy are struggling but remember we are talking about USA here and they can easily bounce back once everything is in good state. America have strong economic leaders so maybe we cannot see any of it overcomes especially bitcoin since many wouldn't like to happen especially the banking system.

Ausgewielt

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I don't think that Dollar can easily crash, many countries still use dollar as reserve currency. But if it happen it seems that the currency of the most stable country will become the best choice for this. Likely many countries see USA as the strongest country so there are many countries use Dollar as reserve currency. Sentiments can also affect fiat price. I personally prefer like to pricing everything in gold because it is more stable, but bitcoin is still my favorite type of investment.

zanezane

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Quote from: Silberman on March 08, 2021, 10:44:02 PM

Quote from: zanezane on March 05, 2021, 08:38:58 PM

~

It is not that we want it, it is just that it is inevitable at this point, fiat currencies as we know are backed by nothing and are accepted as legal tender because people believe the government knows what they are doing, but it turns out that due to the pandemic they printed a lot of fiat and this is going to cause inflation down the line, debts have increased massively and income from taxes has gone down, basically governments are in a terrible position that cannot be fixed except with a crash, and whether this happens sooner or later you need to be prepared in order to avoid the awful effects that we know are coming.

Who says that it is inevitable that it is going to crash? I know that people for a long time has been speculating that fiat will crash but to actively says that it will doesn't help with preventing a crash because if the people are loud enough about their opinions no matter how bad it is, the mentality that it cultivates will grow and it is a deadly precedent for something bad to really happen. Maybe you are all right about the crash will happen because people have been printing but what can we do? The people are ignorant and they do not want to tax the rich people so the money stays in their realm, if people were to move right now as what is intended a long time ago, I think that a crash can be prevented.

Lorence.xD

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Quote from: shoreno on March 09, 2021, 10:47:46 PM

but did this currency not included in the crash ? you said dollar and other currency are going to crash but if all of them did , all whats left to us is crypto and the main measurement of a crypto is in btc so your right that everything are going to be priced in btc .

it sounds scarry but exciting at the same time because finally btc is now going to be recognized as the main currency but they just wanna make sure that they price every thing fairly .

Got 'em. To be fair, I think OP must be excluding Yuan because Chinese economy is a pretty inclusive one unlike USD which is widely used by many countries to help their economy grow. I don't want a crash really, now that I think about it, if there was a crash and I was the only one that is going to be safe from that crash, I will be the target for the many and some of them might steal from me or ask for my help and I don't want that kind of responsibility. If bitcoin is going to be recognized as a currency then it means that bitcoin should be able to circulate to the economy at the same pace as fiat and that bitcoin is able to be distributed towards the workers all over the world.

shoreno

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Quote from: aoluain on March 05, 2021, 07:54:08 AM

What will we be using, Chinese Yuan?

but did this currency not included in the crash ? you said dollar and other currency are going to crash but if all of them did , all whats left to us is crypto and the main measurement of a crypto is in btc so your right that everything are going to be priced in btc .

it sounds scarry but exciting at the same time because finally btc is now going to be recognized as the main currency but they just wanna make sure that they price every thing fairly .

Topic: Pricing in Dollar - Pricing in Bitcoin (Read 488 times)