Topic: Pricing in Dollar - Pricing in Bitcoin - page 3. (Read 490 times)

Im in the EU and I check the Bitcoin value in Dollars because most of the crypto
commentary I get is centered on Dollar pricing.

I dont have any answers but its interesting to hear what people think.

So if/when the Dollar hyperinflates I suppose people would continue as they are

     I kind of agree with this since most of the people I know outside of my country uses USD primarily in pricing their bitcoins and then using their own country's currency to price USD, I do not know if I expressed that right but yes, I also am guilty of doing this since it is pretty much easier and makes me feel so excited after pricing my bitcoin in USD then figuring out how much this is worth now in my country's currency. Although the excitement slowly fades when you get used to it and can already guess how much it would be in your currency, it still is fun for me from time to time.

I think even Dollar or any fiat crash, the Bitcoin still paired with them since our real payment transaction still use fiat of course.
But maybe XAU(Gold) be nice to be paired with Bitcoin. You can invest gold by Bitcoin or invest bitcoin by Gold, isnt it good?

Hyperinflation is not the reason why bitcoin will not be represented in dollars on must exchanges, bitcoin is represented in dollars because it is the most useful fiat currency in the world. Even, if hyperinflation occured, that does not mean anything will change, it does not affect bitcoin but US dollar, but I am not thinking this is going to happen, many precautions would have been in place before US will make certain moves, do not be surprised after the whole thing happen but yet the US dollar still remain one of the strongest fiat currencies.

If the price of your local fiat currency decreased while dollar and bitcoin remain constant, will the price of bitcoin not increase in your local fiat. Do not let the US dollar representation on exchanges or other platforms you have seen it to confuse you, bitcoin is just priced in your local currency.

Wouldn't that be if the Chinese Yuan doesn't hyperinflate as well, the United States have prolly taken poor but necessary decisions such as printing more money during this pandemic, decisions that'll definitely come back to roost, but so also have other countries, China as well, they all have been/will be in the future affected by the pandemic in one way or another, so in a couple of years time, it's not just going to be the U.S. facing the brunt of a falling Fiat currency (inflation), but somewhat all the currencies of the world.

But the thing is, the United States and their Dollar is so powerful, and despite how bad it prolly looks, I wouldn't predict a state of hyperinflation in the United States, neither do I think their Fiat will come of worse than other countries, pricing of Bitcoin I think will still be done in the U.S dollar and it's general acceptability worldwide will still stand.

Nope, we use IDR in major Indonesian local exchanges.

Nope, no one can predict the future (except Prophets if they exist). It would be best if you use the phrase "I am certain" instead of "we are all certain" since everyone has their own opinion. Of course, this contemporary fiat and monetary system will be replaced by something new in the future, but I don't know when and how.

If the fiat currency fails, most likely, people will use hard money temporarily.

The US dollar is still a currency that has a great impact on the world level, not only because it is really worth something, but because there are few who can turn their backs on it - yet behind that currency is the world's largest military power, which we all know is very easy on the trigger.  If we look at history then we can see that behind all similar monetary projects always stood the world's largest military powers as was the case with the British Empire which was very powerful, militarily and commercially.

Of course, in international trade, the US dollar is used when it comes to cryptocurrencies, because that is how we all understand each other without the need for someone else to convert our local currencies into theirs and vice versa. Even some local exchanges (specifically in my country) have prices expressed in US $, regardless of the fact that our payments/withdraws are in local currency - but I think it's just an extra income for an exchange that calculates the exchange rate (dollar to local currency) always in a way to earn on conversion.

Nowadays, it doesn't make sense for someone to express prices exclusively in BTC, people would still want to know how much it is in their currency or US $, because we are far from being able to see that something costs 0.01 BTC, and pay the same without thinking how much is that actually cost.

I thought you are advocating that fiat will collapse and is Yuan a crypto, no but a fiat like dollar. Dollar is usually majorly priced against any other commodity, asset or cryptocurrency because it is generally accepted and operated by the international trade as a measurement for pricing. Yuan can be uses within the Chinese setting. For fiat collapse, it won't affect major currency like USdollar because they understand control system. Also the use of cryptocurrency like bitcoin isn't going to collapse dollar because it is traditional whose operation like other fiat is backed by the country government.

I don't know what country you live in, but I'm pretty sure that the Chinese value bitcoin in Yuan, not USD (though I could be mistaken about that).  I'd always assumed that bitcoin was priced in whatever local currency you're dealing with.

As to your question, if the US dollar hyperinflates (and man, I'm really hoping it doesn't in the near future) then obviously bitcoin is not going to be valued in USD primarily--though it still could, it would just be a mess to do the daily conversions.  But think about how payment processors like Bitpay operate.  They value bitcoin in terms of whatever fiat currency the item you're buying is priced in, so USD would have to be one of them.

This is making my head spin, because I hate thinking about how much trouble the US dollar is in, and I don't see how the government is going to undo the mess they've put all the US citizens in with all the money printing, stimulus, and everything else.  But at least bitcoin isn't affected by any of that--that's the good news, but only if you own bitcoin. 

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?