Topic: What will a coin cost if the USA abandon the US dollar today and switch to BTC? (Read 242 times)
December 15, 2021, 11:00:13 PM
Though definitely not going to happen for the USA to abandon US dollar and witch to BTC, but let's say it just happened for just a day, the price of 1btc will skyrocket in a matter of hours before going for correction.
November 30, 2021, 09:46:18 PM
the country got messed up LOL. but that's impossible because the government can't control it because decentralized is not centralized and prices are unstable. and also the possibility of bitcoin becoming worthless is very large. we still need FIAT besides cryptocurrency
November 30, 2021, 09:16:01 PM
Even though it is impossible, they can do that but it will cost them a lot and there is no reason to do that. They can just adopt it or implement it to make use of it if they want but that as well is impossible because we are talking about the USA here where what they do with their economy will matter to the world. The price of bitcoin right now will rise to some new ATH if they will announce implementing it in the future, what more if they will make it come true?
November 30, 2021, 07:57:27 PM
Oh, that would catapult Bitcoin's price to the heavens! Narrow money alone is already estimated to be around $40 trillion. If all of that is to be converted into Bitcoin, Bitcoin's price might reach hundreds of thousands of dollars. But if all the US dollars in the world, as in from M0 to M3, will all be converted into Bitcoin, the price might exceed a million.
But then, again, as tertius993 pointed out, Bitcoin's USD valuation will be worthless at that point in time and 1BTC will only be equal to 1BTC.
But then, again, as tertius993 pointed out, Bitcoin's USD valuation will be worthless at that point in time and 1BTC will only be equal to 1BTC.
November 30, 2021, 07:52:27 PM
It is not something as you so easily pose it, there is no context, even the simplest conjecture requires defining the parameters correctly, so as not to start shooting arrows...
On the other hand, it is not necessary that it be a great economy, any economy that arises with that idea enters an unexplored path and in a certain way enters a coin toss, in which the result is indeterminate, it does not matter what results from that launch, it is the reality even if the most learned of the traditional economic world come to say that it does not work and on the contrary the great experts of the bitcoin to say "we will be successful".
It is simply not known, but fortunately for everyone, there is a case in development, it only remains to wait for it to arrive, but regardless of the result for or against, you have to keep trying but not with mental examples but with the execution of those premises.
On the other hand, it is not necessary that it be a great economy, any economy that arises with that idea enters an unexplored path and in a certain way enters a coin toss, in which the result is indeterminate, it does not matter what results from that launch, it is the reality even if the most learned of the traditional economic world come to say that it does not work and on the contrary the great experts of the bitcoin to say "we will be successful".
It is simply not known, but fortunately for everyone, there is a case in development, it only remains to wait for it to arrive, but regardless of the result for or against, you have to keep trying but not with mental examples but with the execution of those premises.
November 30, 2021, 07:19:12 PM
$10,000,000 per Bitcoin. Likely even higher as much of the Bitcoin supply is ghost supply that will never again be accessed, plus fomo.
However, as others have stated, this will never happen. There is so much debt and liability out there, not to mention greed, that the government will be able to keep those printing presses running long after any sensible person would have gone onto a new plan. Nothing short of a war will change the dollar I fear. Not even a president wanting to make the change can have any effect (see: JFK & Executive Order 11110).
However, as others have stated, this will never happen. There is so much debt and liability out there, not to mention greed, that the government will be able to keep those printing presses running long after any sensible person would have gone onto a new plan. Nothing short of a war will change the dollar I fear. Not even a president wanting to make the change can have any effect (see: JFK & Executive Order 11110).
November 30, 2021, 06:51:22 PM
If we take every dollar in existence and make the existing quantity of BTC equal that amount of value, what will a coin cost in the (now-defunct) dollar?
Just wondering what will happen if a large economy switch to Bitcoin
There's no such way, Bitcoin is decentralized and the dollar is centralized, I don't think that the well-developed country will do such a thing, they even have heavy regulations. Bitcoin needs also fiat to have a real value and I don't think it can overtake Bitcoin besides no one government replacing their fiat.Just wondering what will happen if a large economy switch to Bitcoin
I don't know even if this what IF will happen and what is the result to the economy, we know that the world's market influenced on the dollar value as of now.
The chances are no more considering the economic infrastructure and bitcoin. Maybe as an alternate to the USD we can see bitcoin getting used in the future as the generations are completely getting tied to technology. 
November 30, 2021, 05:59:39 PM
If we take every dollar in existence and make the existing quantity of BTC equal that amount of value, what will a coin cost in the (now-defunct) dollar?
Just wondering what will happen if a large economy switch to Bitcoin
There's no such way, Bitcoin is decentralized and the dollar is centralized, I don't think that the well-developed country will do such a thing, they even have heavy regulations. Bitcoin needs also fiat to have a real value and I don't think it can overtake Bitcoin besides no one government replacing their fiat.Just wondering what will happen if a large economy switch to Bitcoin
I don't know even if this what IF will happen and what is the result to the economy, we know that the world's market influenced on the dollar value as of now.
November 30, 2021, 05:28:42 PM
It would be worth jack shit because it just wouldn't be the same thing most of us signed up for. Centralisation would bring about a different concept of what BTC is about and how it operates, and, in no time, it would end up just like today's FIAT. Obviously, I strongly believe that BTC will not overthrow the dollar, but if it did, not much good would come of it. It was not meant to be governed over by the state.
November 30, 2021, 05:19:55 PM
It’s all hypothetical & clearly not going to happen any time soon but if the Us were to switch to bitcoin obviously the price would go to the roof. You’re talking about the whole world reserve currency funds being bitcoin.
What you are saying is very unrealistic and will never gonna happen today and in the future. Such centralized government would never allow a decentralized currency to replace a centralized currency because it will only be a threat for the transparency of the US government. If this is the case, US government will eventually create their own centralized digital currency because at least they can still control it than just resorting into bitcoin wherein most of the people who are secretly keeping bitcoin will eventually come out in their places and create a rally. 
November 30, 2021, 10:10:41 AM
It’s all hypothetical & clearly not going to happen any time soon but if the Us were to switch to bitcoin obviously the price would go to the roof. You’re talking about the whole world reserve currency funds being bitcoin.
November 30, 2021, 10:03:26 AM
If we take every dollar in existence and make the existing quantity of BTC equal that amount of value, what will a coin cost in the (now-defunct) dollar?
Just wondering what will happen if a large economy switch to Bitcoin
I know how much we love bitcoin, but saying that the US would abandon their US dollar for Bitcoin, seriously what even makes you reason such a thing? The United States are never going to abandon their USD currency just to adopt bitcoin. Look at the economy of the world and how everything is set out, do you ever think that such would ever happen? The only thing they would do is just declare it a legal and a legal method of transaction for people to be free to make use of it for daily transactions and also be able to invest, and own it as assets. Just wondering what will happen if a large economy switch to Bitcoin
November 30, 2021, 09:18:53 AM
There's no accurate price prediction to be reach for this and its hard to give a figure on something we know impossible that's its little bit not realistic to see how some government will dispose their physical cash for just a high volatility crypto. This one will give them a huge problem if they push this since we know how unpredictable and how the market goes on certain circumstances.
Also for sure their law maker will not allow any implementation that takes their physical cash on their rotation.
Also for sure their law maker will not allow any implementation that takes their physical cash on their rotation.
November 30, 2021, 08:50:56 AM
As a national decision, it needs approval from Congress members so it won't happen suddenly and we can see signals of such big decision.
Big nations won't do this step because it is like slap at their faces and their financial system. They know what are weakness of their system but they will never officially admit it. They can add Bitcoin to their reserves but I am sure Bitcoin won't be the only asset in their national reserve.
When it happens, with such big news and achievement Bitcoin will have big increase shortly. That can be 30%, 50% but I can not say about price. It's just percent because I don't know when it will happen and what price Bitcoin before such achievement.
Big nations won't do this step because it is like slap at their faces and their financial system. They know what are weakness of their system but they will never officially admit it. They can add Bitcoin to their reserves but I am sure Bitcoin won't be the only asset in their national reserve.
When it happens, with such big news and achievement Bitcoin will have big increase shortly. That can be 30%, 50% but I can not say about price. It's just percent because I don't know when it will happen and what price Bitcoin before such achievement.
November 29, 2021, 06:46:46 PM
Even though such a replacement is unlikely to happen anytime soon, it is a useful calculation because it puts a ceiling on the value of a bitcoin. It shows that the value of 1 BTC cannot reach $1 million (in today's dollars) as some people believe.
Bitcoin's current value is 17% of that theoretical value at 100% replacement (337k), but current adoption is nowhere near close to 17%. This is because Bitcoin's value does not depend on its adoption as a currency, so it can easily reach $1 million just by being "digital gold". Kinda like the real gold's marketcap is higher than base money, despite nobody using gold as a currency.
November 29, 2021, 05:42:13 PM
If we take every dollar in existence and make the existing quantity of BTC equal that amount of value, what will a coin cost in the (now-defunct) dollar?
Just wondering what will happen if a large economy switch to Bitcoin
Even on my dreams this wont actually happen and imagine on how would be a mess on the market if USD would be totally out of the scale or picture?Just wondering what will happen if a large economy switch to Bitcoin
This doesnt only talk about its important but consider on what are the things do attached with this fiat? Im not really that positive with fiat
but i cant imagine on how the economic will be greatly affected if this what IF condition would happen.
November 29, 2021, 04:39:10 PM
If we take every dollar in existence and make the existing quantity of BTC equal that amount of value, what will a coin cost in the (now-defunct) dollar?
Just wondering what will happen if a large economy switch to Bitcoin
It's hard to believe that we will see that someday.Just wondering what will happen if a large economy switch to Bitcoin
Every country is centralized and they don't want to shift to a decentralized economy for which is what bitcoin is portraying and hinting at.
But going with that, the first thing that comes to my mind is the actual value of bitcoin would be multiplied.
November 29, 2021, 02:14:54 PM
In the scenario the OP describes the dollar would be effectively worthless and therefore 1 BTC will be worth … 1 BTC.
November 29, 2021, 01:38:19 PM
If we take every dollar in existence and make the existing quantity of BTC equal that amount of value, what will a coin cost in the (now-defunct) dollar?
This will answer your question: https://cryptovoices.com/basemoney/
In summary, if the $6.4 trillion USD base money were replaced by 19 million BTC, then each BTC would be worth $337k.
However, keep in mind that inflation is already eroding the value of a dollar, and I would discount that by 1/2 to $170k in pre-inflation dollars
Even though such a replacement is unlikely to happen anytime soon, it is a useful calculation because it puts a ceiling on the value of a bitcoin. It shows that the value of 1 BTC cannot reach $1 million (in today's dollars) as some people believe.
November 29, 2021, 01:00:56 PM
If we take every dollar in existence and make the existing quantity of BTC equal that amount of value, what will a coin cost in the (now-defunct) dollar?
Just wondering what will happen if a large economy switch to Bitcoin
Too unrealistic scenario. While it's okay to dream and desire, unfortunately, there's no answer for such question (unrealistic). Just wondering what will happen if a large economy switch to Bitcoin
Asking such broad questions will only get speculations. Especially to a question related to government untraceable currency's total circulation and cryptocurrency as their alternative official currency.
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