What if US Dollar Crashes? - page 19.

dirokkl

full member

Activity: 235

Merit: 250

Quote from: Shiroslullaby on October 28, 2016, 03:31:22 AM

I think that right now, with all the uncertainty in global markets, the crash of any of the big currencies- US Dollar, Great Brittain Pound Sterling, Chinese Yuan, German Deutschmark, etc
would be a bad sign for everyone.
The global economy is linked together, and any of the large counties becoming unstable might lead to markets becoming unpredictable across the entire world.

It's true, all economies are linked and dependent upon each other. Even though the dollar is not much strong, but talk about a collapse even sooner

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: Fatanut on October 28, 2016, 03:01:20 AM

Quote from: shield132 on October 28, 2016, 02:51:44 AM

If US Dollar crashes, than bitcoin will crashes also. -snip-

Nope, it's not like that. It's very likely that the US Dollar crashed because the fiat currencies are getting dumped and people are migrating to bitcoin. It's like the fiat currency is inversely proportional to crypto-currency. But it's also likely that the US dollar will crash even without people migrating to crypto-currency because of the fact that they have a lot of debt now and their next president isn't exactly what people need.

If the Chinese Central bank hadn't been constantly and regularly devaluing the Chinese Yuan (Renminbi) for the last two years, I suspect we would still have been hanging around a $300 mark risen from $200 slightly over a year ago due to this year halving. It should be pretty obvious to anyone who has been seriously looking into the question about who is contributing most to the demand for Bitcoin. It is the Chinese buyers...

And there can hardly be two opinions about that

Shiroslullaby

sr. member

Activity: 434

Merit: 250

I think that right now, with all the uncertainty in global markets, the crash of any of the big currencies- US Dollar, Great Brittain Pound Sterling, Chinese Yuan, German Deutschmark, etc
would be a bad sign for everyone.
The global economy is linked together, and any of the large counties becoming unstable might lead to markets becoming unpredictable across the entire world.

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: cjmoles on October 27, 2016, 07:07:09 PM

Quote from: deisik on October 27, 2016, 07:54:16 AM

Quote from: cjmoles on October 27, 2016, 01:58:01 AM

Quote from: FuckIdolPlus on March 28, 2015, 11:00:49 AM

I was thinking about this, what if the US Dollar crashes like speculated by many renowned economists around the world?
What will be it's affects on the beloved currency, BTC?

If the purchasing power of the US dollar crashed, then the price of bitcoin would probably decrease relative to the purchasing power of the US dollar

How's that? Many people erroneously believe that the US dollar is something exceptional in respect to Bitcoin and its price dynamics, while, as I have already said it on numerous occasions, the Chinese Yuan has by far more influence on Bitcoin price than the dollar. We see that the Bitcoin dollar prices quoted on BitStamp and Coinbase start growing and we come to think that Bitcoin is somehow tightly tied to the US dollar...

When, in fact, these quotes only reflect what happens at the Chinese exchanges where Bitcoin is traded exclusively for Renminbi

Well, if those who are likely to purchase bitcoin suddenly find that their dollar can buy less coin, then demand for bitcoin would decrease. If demand for bitcoin decreases, then the price of bitcoin would follow. And, that's not even considering what the effect of a devalued dollar would have on other currencies. Do you also think that the Chinese Yuan wouldn't be effected by a devalued USD? It's all relative....right?

So far things happen in quite the opposite order you describe, and not specifically for Bitcoin. When a national currency abruptly depreciates (loses its purchasing power), people start searching for a safe haven. Recently it has been the US dollar (or gold for more wealthy ones), and its exchange rate in respect to the local currency always soars in such cases. If your words were true, then those who would purchase the dollar should buy less dollars and thus the demand for dollars should decrease. In reality though, exactly the opposite happens, since people are trying get to rid of their domestic currency as soon as they are paid in it converting their depreciating monies into a more stable foreign currency...

And Bitcoin can be just that in respect to any fiat currency including the American dollar, thanks to the ease with which bitcoins can be bought

Fatanut

legendary

Activity: 1008

Merit: 1060

Quote from: shield132 on October 28, 2016, 02:51:44 AM

If US Dollar crashes, than bitcoin will crashes also. -snip-

Nope, it's not like that. It's very likely that the US Dollar crashed because the fiat currencies are getting dumped and people are migrating to bitcoin. It's like the fiat currency is inversely proportional to crypto-currency. But it's also likely that the US dollar will crash even without people migrating to crypto-currency because of the fact that they have a lot of debt now and their next president isn't exactly what people need.

shield132

hero member

Activity: 2352

Merit: 905

Metawin.com - Truly the best casino ever

If US Dollar crashes, than bitcoin will crashes also. But everything isn't like this. For example my country's national currency crashed and now USD's price is much higher in my country and when I want to exchange bitcoin it has good price for me. If USD crashes, it also depends on your national currency's exchange in USD. In my country situtation is like that if USD crashes smally, than it's price won't change from high to small, it will be same and every month it's going higher and higher.

X-ray

hero member

Activity: 3066

Merit: 536

Leading Crypto Sports Betting & Casino Platform

Quote from: danherbias07 on October 27, 2016, 08:50:19 AM

If it does then something will happen that will make a way for bitcoin to be traded in a different currency. Actually it being done now. We just prefer USD too much that we dont see that we can also use the other ones.

definitely right,there's also euro and any other currencies that could possibly way better to be used rather than using dollar,even though there's no big difference,the value will remain the same if it was from my opinion,as you see the price of bitcoin in every currencies having only little margin

freedomgo

legendary

Activity: 3248

Merit: 1160

Playbet.io - Crypto Casino and Sportsbook

Quote from: @prashant on October 28, 2016, 12:36:49 AM

Quote from: rizkyhiw on October 27, 2016, 08:09:12 PM

Quote from: fasdorcas on October 22, 2016, 09:16:05 AM

Quote from: mastica on October 20, 2016, 12:53:46 PM

Dollar will just influence bitcoin because several people does buy bitcoin with dollar, soo dollar week would mean people would have to spend more dollars to get bitcoins, in the end if dollar or any currencie fails we will be forced to spend more to get 1 bitcoin, atleast i do believe this affects just a bit the bitcoin.

That is right. When the dollar crashes, it is better to buy the bitcoin as other fiat will crash as well.

logically yeah once usd crashed the other fiat currency will follow it
as usd the biggest currency in the world it will affected so much to everything around
but i doubt it will happened in the near future
they are too strong , bitcoin can not compared to usd for now at least but it will take an effect to bitcoin if then one day usd get crashed.

US dollar and EURO dominate currency exchanges in the world.and nowdays EURO is more dominant than US dollar.i think even if US dollar somehow looses its value,it will not affect that much greatly but yes as bitcoin major exchanges are done with US dollar so it will affect bitcoin price.

That will not take for long, dollar will back on track like on the ordinary days.. if dollar will collapse then we have no choice about it and we cannot prevent that from happening, I would not be affected actually because I do not trade to much with currency..

In crypto world, we are depending in all currencies of the world as it is decentralized.

@prashant

hero member

Activity: 910

Merit: 505

Quote from: rizkyhiw on October 27, 2016, 08:09:12 PM

Quote from: fasdorcas on October 22, 2016, 09:16:05 AM

Quote from: mastica on October 20, 2016, 12:53:46 PM

Dollar will just influence bitcoin because several people does buy bitcoin with dollar, soo dollar week would mean people would have to spend more dollars to get bitcoins, in the end if dollar or any currencie fails we will be forced to spend more to get 1 bitcoin, atleast i do believe this affects just a bit the bitcoin.

That is right. When the dollar crashes, it is better to buy the bitcoin as other fiat will crash as well.

logically yeah once usd crashed the other fiat currency will follow it
as usd the biggest currency in the world it will affected so much to everything around
but i doubt it will happened in the near future
they are too strong , bitcoin can not compared to usd for now at least but it will take an effect to bitcoin if then one day usd get crashed.

US dollar and EURO dominate currency exchanges in the world.and nowdays EURO is more dominant than US dollar.i think even if US dollar somehow looses its value,it will not affect that much greatly but yes as bitcoin major exchanges are done with US dollar so it will affect bitcoin price.

rizkyhiw

legendary

Activity: 1484

Merit: 1004

Quote from: fasdorcas on October 22, 2016, 09:16:05 AM

Quote from: mastica on October 20, 2016, 12:53:46 PM

Dollar will just influence bitcoin because several people does buy bitcoin with dollar, soo dollar week would mean people would have to spend more dollars to get bitcoins, in the end if dollar or any currencie fails we will be forced to spend more to get 1 bitcoin, atleast i do believe this affects just a bit the bitcoin.

That is right. When the dollar crashes, it is better to buy the bitcoin as other fiat will crash as well.

logically yeah once usd crashed the other fiat currency will follow it
as usd the biggest currency in the world it will affected so much to everything around
but i doubt it will happened in the near future
they are too strong , bitcoin can not compared to usd for now at least but it will take an effect to bitcoin if then one day usd get crashed.

cjmoles

legendary

Activity: 1176

Merit: 1017

Quote from: deisik on October 27, 2016, 07:54:16 AM

Quote from: cjmoles on October 27, 2016, 01:58:01 AM

Quote from: FuckIdolPlus on March 28, 2015, 11:00:49 AM

I was thinking about this, what if the US Dollar crashes like speculated by many renowned economists around the world?
What will be it's affects on the beloved currency, BTC?

If the purchasing power of the US dollar crashed, then the price of bitcoin would probably decrease relative to the purchasing power of the US dollar

How's that? Many people erroneously believe that the US dollar is something exceptional in respect to Bitcoin and its price dynamics, while, as I have already said it on numerous occasions, the Chinese Yuan has by far more influence on Bitcoin price than the dollar. We see that the Bitcoin dollar prices quoted on BitStamp and Coinbase start growing and we come to think that Bitcoin is somehow tightly tied to the US dollar...

When, in fact, these quotes only reflect what happens at the Chinese exchanges where Bitcoin is traded exclusively for Renminbi

Well, if those who are likely to purchase bitcoin suddenly find that their dollar can buy less coin, then demand for bitcoin would decrease. If demand for bitcoin decreases, then the price of bitcoin would follow. And, that's not even considering what the effect of a devalued dollar would have on other currencies. Do you also think that the Chinese Yuan wouldn't be effected by a devalued USD? It's all relative....right?

danherbias07

legendary

Activity: 3318

Merit: 1133

Leading Crypto Sports Betting & Casino Platform

If it does then something will happen that will make a way for bitcoin to be traded in a different currency. Actually it being done now. We just prefer USD too much that we dont see that we can also use the other ones.

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: cjmoles on October 27, 2016, 01:58:01 AM

Quote from: FuckIdolPlus on March 28, 2015, 11:00:49 AM

I was thinking about this, what if the US Dollar crashes like speculated by many renowned economists around the world?
What will be it's affects on the beloved currency, BTC?

If the purchasing power of the US dollar crashed, then the price of bitcoin would probably decrease relative to the purchasing power of the US dollar

How's that? Many people erroneously believe that the US dollar is something exceptional in respect to Bitcoin and its price dynamics, while, as I have already said it on numerous occasions, the Chinese Yuan has by far more influence on Bitcoin price than the dollar. We see that the Bitcoin dollar prices quoted on BitStamp and Coinbase start growing and we come to think that Bitcoin is somehow tightly tied to the US dollar...

When, in fact, these quotes only reflect what happens at the Chinese exchanges where Bitcoin is traded exclusively for Renminbi

cjmoles

legendary

Activity: 1176

Merit: 1017

Quote from: FuckIdolPlus on March 28, 2015, 11:00:49 AM

I was thinking about this, what if the US Dollar crashes like speculated by many renowned economists around the world?
What will be it's affects on the beloved currency, BTC?

If the purchasing power of the US dollar crashed, then the price of bitcoin would probably decrease relative to the purchasing power of the US dollar. However, I don't think that the price of bitcoin is as important as its usefulness as a means of exchanging value in such an extreme scenario. Yes, there are many who utilize bitcoin as a store wealth, rather than a means of transferring value, but if the US dollar lost confidence, then all bets are off as far as storing wealth goes!

goldcoinminer

hero member

Activity: 952

Merit: 500

Quote from: ?? on ??

Quote from: mastica on October 26, 2016, 11:19:46 AM

Quote from: bamboylee on October 22, 2016, 11:46:24 AM

Quote from: fasdorcas on October 22, 2016, 09:16:05 AM

Quote from: mastica on October 20, 2016, 12:53:46 PM

Dollar will just influence bitcoin because several people does buy bitcoin with dollar, soo dollar week would mean people would have to spend more dollars to get bitcoins, in the end if dollar or any currencie fails we will be forced to spend more to get 1 bitcoin, atleast i do believe this affects just a bit the bitcoin.

That is right. When the dollar crashes, it is better to buy the bitcoin as other fiat will crash as well.

I do not see how this thing will have a domino effect. If one currency crashes does not mean others will crash as well. Each country have their own economy and reserves. Not all country is dependent on US economy.

No, almost all if not all economies does several transactions with dollar, soo any loss or gain against the others currencies does matter and afects the economies, bitcoin is being bought and sold with huge volume in dollars, others currencies the volume its small.

Well other currencies are also transacting with dollars with large volumes and if this is going to happen then most of us will be affected regardless where we live or country we are. As long as your currency or country depends on the economy of US then you will be effected with it, that's the reality of US crash.

Definitely there's a big possibility that it will happen and when dollars collapse, bitcoin might also collapse God forbid but we are talking of possibilities here and everything is possible as bitcoin starts from a dollar and may be back in dollar. Can't predict the future but we must be ready for that.

mastica

hero member

Activity: 938

Merit: 500

Quote from: bamboylee on October 22, 2016, 11:46:24 AM

Quote from: fasdorcas on October 22, 2016, 09:16:05 AM

Quote from: mastica on October 20, 2016, 12:53:46 PM

Dollar will just influence bitcoin because several people does buy bitcoin with dollar, soo dollar week would mean people would have to spend more dollars to get bitcoins, in the end if dollar or any currencie fails we will be forced to spend more to get 1 bitcoin, atleast i do believe this affects just a bit the bitcoin.

That is right. When the dollar crashes, it is better to buy the bitcoin as other fiat will crash as well.

I do not see how this thing will have a domino effect. If one currency crashes does not mean others will crash as well. Each country have their own economy and reserves. Not all country is dependent on US economy.

No, almost all if not all economies does several transactions with dollar, soo any loss or gain against the others currencies does matter and afects the economies, bitcoin is being bought and sold with huge volume in dollars, others currencies the volume its small.

bamboylee

hero member

Activity: 1148

Merit: 504

Quote from: fasdorcas on October 22, 2016, 09:16:05 AM

Quote from: mastica on October 20, 2016, 12:53:46 PM

Dollar will just influence bitcoin because several people does buy bitcoin with dollar, soo dollar week would mean people would have to spend more dollars to get bitcoins, in the end if dollar or any currencie fails we will be forced to spend more to get 1 bitcoin, atleast i do believe this affects just a bit the bitcoin.

That is right. When the dollar crashes, it is better to buy the bitcoin as other fiat will crash as well.

I do not see how this thing will have a domino effect. If one currency crashes does not mean others will crash as well. Each country have their own economy and reserves. Not all country is dependent on US economy.

mastica

hero member

Activity: 938

Merit: 500

Dollar will just influence bitcoin because several people does buy bitcoin with dollar, soo dollar week would mean people would have to spend more dollars to get bitcoins, in the end if dollar or any currencie fails we will be forced to spend more to get 1 bitcoin, atleast i do believe this affects just a bit the bitcoin.

Seansky

hero member

Activity: 560

Merit: 500

Quote from: Mr.grin on October 19, 2016, 04:32:53 AM

Well, if the dollar crashes, maybe people will start looking for alternative means of transaction fairly good, but I did not say that everyone will switch to using bitcoin, however, I think most people would switch to using bitcoin. because, merupakana bitcoin currency on the internet, which is accepted internationally. if the dollar crashes, then the price of bitcoin will switch to the euro price, and it makes the price of BTC to be higher

Yeah, I agree with you mate. Hope they switch to bitcoin as speculated but many will turn to gold in my opinion since gold is more known but there is a chance that they'll turn in to bitcoin and start buying bulks of it. If that happens im sure we will see a very huge pump that maybe will beat the all time highest price record set on bitcoin but the chance of it happening is low.

Mr.grin

legendary

Activity: 1218

Merit: 1000

Well, if the dollar crashes, maybe people will start looking for alternative means of transaction fairly good, but I did not say that everyone will switch to using bitcoin, however, I think most people would switch to using bitcoin. because, merupakana bitcoin currency on the internet, which is accepted internationally. if the dollar crashes, then the price of bitcoin will switch to the euro price, and it makes the price of BTC to be higher

Topic: What if US Dollar Crashes? - page 19. (Read 57115 times)