What if US Dollar Crashes? - page 5.

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Quote from: diegz on February 16, 2017, 10:37:56 PM

Quote from: nicolecan13 on February 16, 2017, 10:35:14 PM

If Us dollar crashes that would bring a large devastation of the entire economic growth of the country not just america but those country that uses dollar currency. Bitcoin digital currency will be affected also because if we exchanged our btc to fiat and the dollar rate falls, the price is really affected.

Well, if the dollar crashes, isn't it amazing for the bitcoin price? and if it crashes, euro and other currencies are still there. Probably crashing dollar would just affect the specific country that holds it and where it is widely used. But for those other country who has their own currency, it is in their favor. Their currencies will rise too when dollar crashes.

Because the domination by dollar and it will be impacting the bitcoin although about his price. because bitcoin still depend on the dollar and with his big influence.
If the dollar crash and bitcoin will also get an impact too.

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Quote from: nicolecan13 on February 16, 2017, 10:35:14 PM

If Us dollar crashes that would bring a large devastation of the entire economic growth of the country not just america but those country that uses dollar currency. Bitcoin digital currency will be affected also because if we exchanged our btc to fiat and the dollar rate falls, the price is really affected.

Well, if the dollar crashes, isn't it amazing for the bitcoin price? and if it crashes, euro and other currencies are still there. Probably crashing dollar would just affect the specific country that holds it and where it is widely used. But for those other country who has their own currency, it is in their favor. Their currencies will rise too when dollar crashes.

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If Us dollar crashes that would bring a large devastation of the entire economic growth of the country not just america but those country that uses dollar currency. Bitcoin digital currency will be affected also because if we exchanged our btc to fiat and the dollar rate falls, the price is really affected.

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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 collapse of the dollar, I think the first funeral will be Chinese government. Because China central bank holdings of U.S. debt, the dollar will become a waste, the Fed and the U.S. government Chinese owe trillions of debt so suddenly fell. China's central bank suddenly less assets, the yuan is not followed by violent devaluation. If bitcoin becomes a way of payment in the world, China's economy will be greatly damaged.

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When there are concerns over currency devaluation, people seek alternatives.

An example of this is venezuelans buying electronics and tv's after Chavez announced he would devalue the bolivar(venezuelan currency) by 32%.

One of the reasons people buy electronics during currency devaluation involves fear of currency devaluing at a faster rate than flat screen tv's and electronics.

Buying electronics is a way of escaping currency devaluation. When the euro devalues, the price of gold always shoots up as people buy more gold to maintain the value of their wealth.

If the us dollar crashed, people would buy gold and bitcoin, and the price of both would increase.

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He maybe has a point if its true that bitcoin is mostly used for moving chinese currency over to dollars. If you destroy the dollar, then this trade is also gone and perhaps the worth of bitcoin is reduced. However bitcoin isnt tied to just one trade and plenty of other currencies exist in the world, other goods, other people offering services besides just one nation.

You are correct that bitcoin cannot 'dominate' dollar but the main point there is US dollar is weak for its own reasons. Bitcoin has never worked against those interests, if the price rises on weakness then it hasnt taken strength from US dollar and so gained in that way. Very simply dollars are weak because they produce so many and make more notes freely available then actual trade done, the cushion that stops a fall is dollar is used by more people outside US borders then inside. Bitcoin is just a newcomer and has little authority or trust, USA is the most trusted system in the world despite some very poor finance by its government and the FED enabling that.

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Quote from: deisik on February 16, 2017, 12:49:56 PM

Quote from: webtricks on February 16, 2017, 12:35:22 PM

US Dollar is not a global currency. It is a native currency of US though being used in many other countries (small ones, not in power to develop their own ones). So possible reason for USD crash will be collapse of USA economy. There maybe many possible reasons for it. And about possible outcomes-
1. Increase in exports (From USA)
2. Decrease in imports (To USA)
3. Fall in GDP and per capita income (of USA)
And the most important one, huge shift in world power. US will be dethroned from the post of Super Power Cheesy

The first two point will actually increase the value of the dollar

If the US increases exports, their exporters will obviously sell their goods only for the US dollar, so whoever wants to buy these goods will have to find dollars elsewhere, and therefore the value of the dollar could apparently rise with exports growing. Basically the same pertains to imports, though in reverse order, obviously. Less imports would mean less dollars going outside of the US, and thus the value of the dollar would increase once again

Thats indeed true! All four process of economy- Boost, depression, recession and recovery are interlinked. One is followed by the other. The possible outcome of USD crash will make US goods cheaper than ROW. Which indeed means cheaper exports from US. This will be the only remedy available to USA to heal its losses.
On the other hand, foreign goods become costlier to US residents, so decrease in imports. Hence, it doesn't mean self-reliance. So, no appreciation in USD!!

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USD has already crash and will continue to do so like every other paper currency. Tell me what did someone buy with 1 usd 30 years ago and what does he buy today ? The value of USD has crashed

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Quote from: webtricks on February 16, 2017, 12:35:22 PM

US Dollar is not a global currency. It is a native currency of US though being used in many other countries (small ones, not in power to develop their own ones). So possible reason for USD crash will be collapse of USA economy. There maybe many possible reasons for it. And about possible outcomes-
1. Increase in exports (From USA)
2. Decrease in imports (To USA)
3. Fall in GDP and per capita income (of USA)
And the most important one, huge shift in world power. US will be dethroned from the post of Super Power Cheesy

The first two points will actually increase the value of the dollar

If the US increases exports, their exporters will obviously sell their goods only for the US dollar, so whoever wants to buy these goods will have to find dollars elsewhere, and therefore the value of the dollar could apparently rise with exports growing. Basically the same pertains to imports, though in reverse order, obviously. Less imports would mean less dollars going outside of the US, and thus the value of the dollar would increase once again

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If US Dollar crashes, it will be one of the great opportunity for fiat traders because they can get a dollar for a lot cheaper price. I also think that the crash of US dollar will be good for bitcoin because it price will spike up very high and bitcoin will be popular since the most common currency crashes (USD).

webtricks

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US Dollar is not a global currency. It is a native currency of US though being used in many other countries (small ones, not in power to develop their own ones). So possible reason for USD crash will be collapse of USA economy. There maybe many possible reasons for it. And about possible outcomes-
1. Increase in exports (From USA)
2. Decrease in imports (To USA)
3. Fall in GDP and per capita income (of USA)
And the most important one, huge shift in world power. US will be dethroned from the post of Super Power Cheesy

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when the dollar crashes, I am sure, people will use as the main alternative bitcoin payment on the internet. well, even when dolam not crash, bitcoin is able to compete with the dollar. it's just that, bitcoin is superior because it is directly used by people all over the world. bitcoin will be the first choice in that regard.

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Quote from: BitcoinGirl.Club on February 16, 2017, 11:01:16 AM

”IF” the US dollar was going to crash the government would probably adopt an alternative currency like the EURO or POUND or use gold to avoid further hyperinflation . Bitcoin would also see a rise in usage as stable currencies are sought for and a possibility of skyrocketing BTC prices!

bitcoin will probably wont be affected by this, afterall bitcoin isnt pegged with USD and people wont be using bitcoin as their currency. When USD really fall then this will be an opportunity for the other country to finally be the top of the food chain and britain will probably be a huge candidate for that which means GbP will be the next top currency

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Quote from: icecube45 on February 16, 2017, 07:58:41 AM

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Quote from: nkc007 on February 16, 2017, 02:29:56 AM

It can not happen as usd has become global dependency currency and grp of different countries depend on its exchange and price change.

Well if you know the news about dollars crash from the past years. Many investors pulled out their investments on US so they did made the dollars to crash. Dollars is still vulnerable in crashing and if it happens will be affected too.

True dollar had several crash because unfavorable economic conditions, but can bounce back. If the dollar crash will affect other currencies, the price of other currencies will increase. But foreign exporters such as China and Japan does not want to dollar crash because the United States is too important customers. If the dollar crash will impact to but not too big, as there are many people who moved to use .

yeah i think it might be possible because of the economic conditions of america now a days but i think it is the fact that world or economic powers of the world doesn't wants this. i don't think this will happen but i think if it happens it will cause a great impact on the bitcoin. and from this bitcoin will lose its customers to extreme level.

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”IF” the US dollar was going to crash the government would probably adopt an alternative currency like the EURO or POUND or use gold to avoid further hyperinflation . Bitcoin would also see a rise in usage as stable currencies are sought for and a possibility of skyrocketing BTC prices!

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Quote from: marcuslong on February 16, 2017, 09:00:33 AM

Quote from: gandame on February 16, 2017, 07:27:50 AM

If USD crashes, I don’t think that BTC price would rise because some in exchange market dollar mostly is dominating and most businesses were relying on it. All fiat currency will be affected if that happens with USD, however digital currency will not directly be affected but, could you think the effect of btc demand will rise high? I think , it will not because we are talking here generally on currencies worldwide. If others think that btc price will rise in value, well that’s their own insight but totally in exchange of btc to fiat currency money matters most if ever fiat exchange rate drops then it also affects the digital crypto currency price rate.

Bitcoin can't dominate usd , Bitcoin is just depending on the price of USD once the usd crashed what would be the next bitcoin currency ? It would be Chineses Yuan? We'll maybe this is not a good. Agreed al fiat currency will be affected also those big part of us that will crashed other companies because of bankrupt will happen. ANd i don't believed that once the price of USD will fall bitcoin will rise it just the demand and the volume that bitcoin needs to rise

Bitcoin price is denominated in dollars

But that doesn't mean that Bitcoin value is somehow tied to that of the US dollar. Some countries (e.g. Saudi Arabia) are doing exactly that, i.e. firmly fixing the exchange rate of their national currency, so that one unit of that currency is worth a fixed amount of another currency at any moment. This system works as long as the government can support this exchange rate, either by market or administrative means (in the latter case a black market could emerge, see Venezuela). Obviously, Bitcoin has nothing to do with such a system since its value is entirely determined by free market via supply and demand mechanism

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Quote from: bitbunnny on February 16, 2017, 09:35:50 AM

This is not possible, for Bitcoin to dominate and crash US dollar or any other fiat currency. No government in the world would allow this to happen and the preconditions for something like that simply don't exist. Not Bitcoin or any other cryptocurrency can't overtake world's economy and finances, that is illusion, but it can become part of it.

Crashing dollar or any other currency by bitcoin will surely remain as a dream and also it may develop even more in the future but still it cant be recognized worldwide or become the main currency and as you said government wouldnt allow such act to happen.

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This is not possible, for Bitcoin to dominate and crash US dollar or any other fiat currency. No government in the world would allow this to happen and the preconditions for something like that simply don't exist. Not Bitcoin or any other cryptocurrency can't overtake world's economy and finances, that is illusion, but it can become part of it.

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Quote from: gandame on February 16, 2017, 07:27:50 AM

If USD crashes, I don’t think that BTC price would rise because some in exchange market dollar mostly is dominating and most businesses were relying on it. All fiat currency will be affected if that happens with USD, however digital currency will not directly be affected but, could you think the effect of btc demand will rise high? I think , it will not because we are talking here generally on currencies worldwide. If others think that btc price will rise in value, well that’s their own insight but totally in exchange of btc to fiat currency money matters most if ever fiat exchange rate drops then it also affects the digital crypto currency price rate.

Bitcoin can't dominate usd , Bitcoin is just depending on the price of USD once the usd crashed what would be the next bitcoin currency ? It would be Chineses Yuan? We'll maybe this is not a good. Agreed al fiat currency will be affected also those big part of us that will crashed other companies because of bankrupt will happen. ANd i don't believed that once the price of USD will fall bitcoin will rise it just the demand and the volume that bitcoin needs to rise.

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Quote from: gandame on February 16, 2017, 07:27:50 AM

If USD crashes, I don’t think that BTC price would rise because some in exchange market dollar mostly is dominating and most businesses were relying on it. All fiat currency will be affected if that happens with USD, however digital currency will not directly be affected but, could you think the effect of btc demand will rise high? I think , it will not because we are talking here generally on currencies worldwide. If others think that btc price will rise in value, well that’s their own insight but totally in exchange of btc to fiat currency money matters most if ever fiat exchange rate drops then it also affects the digital crypto currency price rate.

I don't quite understand why exactly Bitcoin is not going to rise if dollar crashes but that's what most folks (me included) expect to happen. If you are still going to support your claim, you basically have to explain why people would want to sell their bitcoins for dollars if the price of the latter (as well as its value) starts to decline heavily. Honestly, common sense would actually tell you to sell your depreciating dollars as soon s possible and buy bitcoins (until it is too late and no one gives a satoshi for a dollar)

Though it is not given that the dollar is really going to crash any time soon

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