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

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? 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.

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

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.

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.

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.

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?

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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 .

I think it is likely that the dollar will survive as a currency but it is going to lose so much value that people are going to lose any confidence they have in it and it will be impossible to conduct any kind of international trade with it, one solution central banks are thinking about is to create a basket of currencies in which the dollar will be included and then use that currency for international trade.

I really think that is the most likely scenario as I am sure that even under those circumstances governments will resist backing their fiat currencies with precious metals or recognize bitcoin as a currency from which they can conduct their trades.

Bitcoin was the first cryptocurrency to successfully record transactions on a secure, decentralized blockchain-based network. Launched in early 2009 by its pseudonymous creator Satoshi Nakamoto, Bitcoin is the largest cryptocurrency measured by market capitalization and amount of data stored on its blockchain. The Bitcoin software is free and available online to anyone who wants to run a Bitcoin node and store their own copy of the Bitcoin blockchain.Bitcoin was the first cryptocurrency to successfully record transactions on a secure, decentralized blockchain-based network. Launched in early 2009 by its pseudonymous creator Satoshi Nakamoto, Bitcoin is the largest cryptocurrency measured by market capitalization and amount of data stored on its blockchain. The Bitcoin software is free and available online to anyone who wants to run a Bitcoin node and store their own copy of the Bitcoin blockchain.

I am sure that still the value will be calculated in USD over any other fiat currencies and I don't think USD will be facing Hyperinflation for the next 5 to 10 years. What if we completely moved to bitcoin and cryptos the value will be calculated in?

Countries where USD may not be used for pricing of bitcoin already exist. Countries where bitcoin transactions are commonly done without their governments cracking down dont give the price in Dollars. Using any of the fiat currencies to value bitcoin, does not make a difference to me, the end value is the same whether the fiat currency is inflating or deflating.

The numerical values might vary but we prefer simple numbers to keep and hence USD is better to me, might be different for you.

It sounds good but in real life have you even bought or sold gold/bitcoin against one another? The valuation still ends up in fiat. The only possible alternative was one project I had encountered in this forum called Xaurum but seems to be called "Dogshit" by its holders now - https://bitcointalk.org/index.php?topic=3110765.360

Yet to see better projects in this relation though.

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.

Check my posts, where do I say "I want the Dollar to crash"? (HINT: I didnt say it)

The global economic stimiuli to the pandemic sees mass printing of FIAT this will
lead to hyperinflation so the value of a Dollar and FIAT in general will crash.
This is just a result of printing trillions, not the main intention.


What control system is that? raising taxes?


The Chinese ecomony is only #2 compared to the US economy. From the correction/crash
I think the gap will close between the two but by how much is anyones guess.

Im trying to get my head around valuing anything in Bitcoin or Satoshi.

I think I am on a node where it does not matter if you value it in USD or INR, or Yuan etcetera. Thanks to the international harmonisation of prices where you get to see instant/live conversions to each and every currency available throughout the globe. I think this math applies to the bitcoin and rest of the currency as well. As matter of fact bitcoin's value does not come from the USD behaviour alone!

It's all about investments. It would not matter if USA falls behind in the valuation. What if the Indian billionaire becomes a whale or what if japanese institution starts to invest into bitcoin? It will still maintain the balance in crypto and its value. The USD would be just unit to understand its valuer really. 

I also see Bitcoin prices in US Dollars, even though I am not an American citizen. This is probably because most of the popular exchanges use
fiat US Dollars to find out the price of Bitcoin. Therefore I am used to seeing the price of Bitcoin in US Dollars, I only see it in my country's fiat
when I cash out. Even though fiat may crash due to the COVID-19 pandemic, I believe the Bitcoin price will still be viewed in US Dollars.
Because it must be admitted that the US Dollar is the strongest fiat for now and US Dollar is the most widely used in international transactions.

Why do we want to crash fiat in the first place? I always see this kind of posts and it came to a point that I don't know anymore why do we want it to crash. Don't you have any conscience that when a crash happens, people will be losing their jobs and a lot of people will be starving, society that has fiat ingrained in its core will spiral into chaos and no amount of bitcoin will save you if this things happen, it will take a year to recover if there is no war that will follow after the crash and that is wishing that it won't happen but we all know that it will happen. Shouldn't coexistence a better option for everyone, no crashes needed and the growth of bitcoin is secured because there is no unrest because there is no crash.

Scales of measurement change all the time, fiat currencies are a way to measure value and if they fail in their mission then we will use something else, I think there is a possibility that we will begin to measure value directly in bitcoin, this is not as crazy as it sounds, there was a time in which money was measured in terms of gold and how much of it was behind it so we may get to that point in which we do the same with bitcoin as unlikely as it may seem now.

USD remains to be a strong force when it comes to economic power. It still holds a viable position when it comes to economic matters even when it seems to be tanking, for the most part. Also, I'm pretty sure the fiat masters wouldn't really want to make their toy unwanted by the whole world so they will try to spec it out depending on the world's needs.

As for bitcoin valuation, the next most viable currency is certainly CNY, though I'm sure most will pretty much have a hard grasp on that reality given how much they are stuck to the USD.

In the foreseeable future, the USD is still going to be the dominant global reserve currency and the default unit of account for financial assets.

But the CNY is going to be posing a real formidable threat. With the launch of the digital CNY, this process has accelerated. I suggest that you take a glance at Ray Dalio's piece on the CNY potentially becoming a global reserve currency - he essentially predicted that it would be a matter of time.

BTC will and is already a unit of account for a particular niche of people, but until the fiat system implodes ultimately, this is not going to occur on a widespread scale.

I agreed with what you said because Dollar is a global currency and the statistics of the year 2014 shows that Dollar was used for over 51% international trading. Besides, most crypto market cap and trading volume listing site provide market price in Dollar and some Asia exchange site does the same either.


Every economic practitioner understand that fiat will collapse sooner or later and that does not exclude the Dollar though it may not be affected like others fiat that's why institutional investors join crypto. Do you think they easily join crypto because they like it? Remember they once said negative things about crypto which show their hatred toward Bitcoin.

Dollar is not only the universal fiat.But also the dominant forest reserve in many of the countries. The forest reserve can be sold to balance the value of that country fiat towards the dollar. If the European countries get into the cryptocurrency, we can expected the value of 100k$.

Since usd is accepted in many of country. So bitcoin is calculated in terms of Dollar. If you want to see the current value with respect to your money or Yuan. You can use of google convertor. It's accurately with respect to bitcoin.I had not support of USD or US economy. We are a global citizens, so we depend on most of other country currency.

It is a question I have though about: is bitcoin rising or is it that the rest of the currencies are just monopoly money. in my view pricing in bitcoin would be difficult at this moment. The fight is now between the USD and the RMN or Yuan.

These two are de-facto the reserve currency, but given how the FED and the CBC are printing money there might be a case to compare prices with the bitcoin equivalent.

I think that it will continue to be priced in Dollars, the reason is simple, in the world there is a hegemony of the dollar, this comes from the end of the Second World War, in case it is not the dollar, the closest would be the Euro, it is for To avoid this type of conflict, it is necessary to diversify our money so that it does not lose value, this can be with investment in Gold, Real Estate, Bitcoin, Digital Gold, I think it is the best option to be able to assimilate BTC / Dollar.

Might be cool if we will be using the Japanese Yen instead of that Chinese Yuan.
But I doubt everyone would be happy to accept that as there are still some currencies out there that has much acceptable due to its high value, and yes one of them is EURO.
He might mean that FIAT will be unusable due to bitcoins having a strong number of value like that of GOLD. (maybe?)

We do not price Bitcoin in dollar because we want to. It's just the most universal fiat money that people around the world recognize and know its rough value. I price everything in EUR, but on this forum I use USD pricing because I know the value of EUR in USD so I can quickly go from one to the other in a conversation. I know that for people from Asia and Africa it's much easier to price things in USD and for Europeans both fiats are pretty similar, thus I talk about BTC using USD pricing.
USD crash is going to happen one day, but it won't make American switch to BTC or anything else. It will surely make BTC price explode, but it won't change people's habits and the way they see things. For them their morning coffee that used to cost $2 will now cost $5, but it's still going to be $.

The question is, what do you mean by crash? Fiat currencies like the dollar will be around for a long time. They will only lose their value more and more. When my grandfather was young there was an ounce of gold for around $50, today you pay almost 40 times as much. It will be similar with Bitcoin and many cryptocurrencies. Their value will continue to rise, but not necessarily because the inner value of crypto is increasing, but because Bitcoin is limited and inevitably has to increase in value against inflation of fiat money.

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?