Why compare BTC to USD? - page 10. | Bitcointalksearch.org

Cosbycoin

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Quote from: Niya on August 26, 2017, 03:57:48 AM

When people talk about Bitcoin price, they usually refer to its price expressed in dollars. I really don't understand why...

US Dollar is going down in price, US economy is collapsing. There are many other countries which has more Bitcoin users, like Russia, China, Japan, Philippines and the whole Eurozone. Even ICOs are forbidden in the USA. It's not a so Bitcoin-friendly country, its national currency is not so strong. So why price Bitcoin in $?

There could be many other more appropriate currencies like EUR, CNY or RUB...

As far as I know, bitcoin is well known and most trusted fiat all over the world and it is more use to trade worldwide, so bitcoin is most converted in usd before local currency, but actually there is nothing to do with that.

RawDog

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Quote from: Niya on August 26, 2017, 03:57:48 AM

I really don't understand why...

Because we are americans and we tell you little bitchassed chinks what to do. That's why. Got any more questions?

FacelessCrypto

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Greed and desire... You live an adult from 18 to 80 Years .. USD make your food healthcare etc.. The day Crypto directly provide you healthcare and everyone can have access to Crypto..that day normal currency collapse.. till then USD /EUR survive..

and Why Huh

due bully style of bitcoin. Bitcoin should allow other atlcoin to survive . and there by bitcoin.. else its an asset class to be abandoned in a decade...

andrew24p

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Its still very impractical to use bitcoin for every single thing on a day to day basis. There are middlemen like the bitpay card but its still inconvenient, relating it to the currency you function most with is easy for the vast majority of people.

unneros

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usd is a world curency ! BTC is the most highest price in Online curency ! So BItcoin will always come with USD ! When you have a big amount to btc ! You would like to exchange to real money , usd will be the one ! why would you want to exchange 1 BTC in to YEN , VND ,.... Also USD is most likely professional money ! I guess that bussiness man and millionare always use USD so people kindly like USD more than another CURENCY ! BTC Is also

szpalata

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Quote from: erickkyut on August 28, 2017, 08:36:24 PM

They compare Bitcoin to US Dollar because it is the worldwide currency. It is the currency that is highly accepted and appreciated wherever you go worldwide. It should nit depend on the strength of the USD but on its acceptance and appreciation. Why would you want to compare BTC to other currency if the other countries will not accept it?

This is because many people all over the world can easily relate to the US dollar because it is popular and in almost all parts of the world and do quoting bitcoins value in US dollars makes it easier for everyone Irrespective of the country or jurisdiction.

erickkyut

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They compare Bitcoin to US Dollar because it is the worldwide currency. It is the currency that is highly accepted and appreciated wherever you go worldwide. It should nit depend on the strength of the USD but on its acceptance and appreciation. Why would you want to compare BTC to other currency if the other countries will not accept it?

iram1011

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Quote from: Niya on August 26, 2017, 03:57:48 AM

When people talk about Bitcoin price, they usually refer to its price expressed in dollars. I really don't understand why...

US Dollar is going down in price, US economy is collapsing. There are many other countries which has more Bitcoin users, like Russia, China, Japan, Philippines and the whole Eurozone. Even ICOs are forbidden in the USA. It's not a so Bitcoin-friendly country, its national currency is not so strong. So why price Bitcoin in $?

There could be many other more appropriate currencies like EUR, CNY or RUB...

SIMPLY BECAUSE DOLLAR IS THE GLOBAL CURRENCY.

They might have banned ICOs for as they say Customer protection but not Bitcoin. USA is Bitcoin-friendly country. Moreover, these two facts doesn't matter at all because Dollar plays a dominant role in international trade and finance as both a store of value and a medium of exchange. Therefor, it will be considered when there is something International. Bitcoin being international need to be expressed in Dollars. Most of the countries have their own exchanges and sometimes price deviates nationally regardless of international price.

Adbitco

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Quote from: Captimiz on August 26, 2017, 05:09:44 AM

Quote from: Niya on August 26, 2017, 03:57:48 AM

When people talk about Bitcoin price, they usually refer to its price expressed in dollars. I really don't understand why...

US Dollar is going down in price, US economy is collapsing. There are many other countries which has more Bitcoin users, like Russia, China, Japan, Philippines and the whole Eurozone. Even ICOs are forbidden in the USA. It's not a so Bitcoin-friendly country, its national currency is not so strong. So why price Bitcoin in $?

There could be many other more appropriate currencies like EUR, CNY or RUB...

USD is the most stable fiat currency and giving a BTC to USD puts a price on bitcoins that the majority of people will be able to understand. If we were to give rates as "BTC to Gold" or "BTC to Silver" then people would have to go and google the prices for Gold and Silver and that would be even less convenient for people. Most people have some idea what the conversion of their local currency to USD is.

Yes I agree USD is still considered to be the most stable currency and not only that but also it's the only currency which has been popular all over the world since long ago and it's easily acceptable everywhere in the world. USA has a strong influence on most of world countries economies which even Euro doesn't have. Euro might be popular and acceptable in EU countries but most of Asian and African countries still prefer USD. So the people of a larger number of countries would prefer USD to BTC or vice versa to any other currency and that's why I guess this BTC to USD comparison and that's just fair I don't think.

aryaadikariyansyahsuwarto

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that's what I actually questioned since the beginning of the bitcoin world, why bitcoin raced on the strength of the dollar, while other currencies much more profitable, for a moment crossed my mind, that this is already established American, so not one currency is used as a reference to bitcoin prices.

fredo123

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Bitcoins captivates much attention around the world perhaps it soars high to reach its multiple value vs dollar as of this days.. As we all know dollar is a very strong centralized currency globally and majority of the country's commonly used dollar as a mode of exchange.

Ultegra134

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It's an international currency used by the majority of the world, unlike Euro, JPN and many other currencies.
Even in China, only USD is accepted in B2B (Business to Business) and B2C (Business to Consumer) international trading. Check Alibaba/Aliexpress for reference.

yunita

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probably because bitcoin as a benchmark price of digital currency while usd is the benchmark fiat currency exchange rate
So if it is so then people will more easily understand it

jal007

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i think because Usd it's an international currency based on political finance of USA.

mmhaimhai

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I think its because US dollars is consider overpowering fiat curency among everyone even other fiat currency are measure against US dollars on forex and exchanges.

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Quote from: Ctn on August 26, 2017, 11:53:07 PM

It's not official statement but it's just the way representing price one the terms of USD. In the world if you look for other assets also then they will be traded or stated in terms of price unit, that's USD. It is used in general to represent every other currency also. GBP, EUR are also having top values in the world but we still calculate them in USD for our understanding. The conversions are also always made in USD currency. May it's just has the easy acceptance globally and everyone understand the USD term that's why it is used.

Actually, there are many liquid currencies in the world right now. So apart from USD, currencies like GBP, EUR and JPY are also well traded. So other countries' currencies get priced in multiple trading pairs. The same is true of Bitcoin as well.

wildey

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Well, i am also sometimes confused, why many people compare bitcoin and usd. But after I read many articles, many people think that bitcoin is money. So, they always compare bitcoin with dollars, where usd is currently into international money.

Ctn

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It's not official statement but it's just the way representing price one the terms of USD. In the world if you look for other assets also then they will be traded or stated in terms of price unit, that's USD. It is used in general to represent every other currency also. GBP, EUR are also having top values in the world but we still calculate them in USD for our understanding. The conversions are also always made in USD currency. May it's just has the easy acceptance globally and everyone understand the USD term that's why it is used.

Ilegendph

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Quote from: Niya on August 26, 2017, 03:57:48 AM

When people talk about Bitcoin price, they usually refer to its price expressed in dollars. I really don't understand why...

US Dollar is going down in price, US economy is collapsing. There are many other countries which has more Bitcoin users, like Russia, China, Japan, Philippines and the whole Eurozone. Even ICOs are forbidden in the USA. It's not a so Bitcoin-friendly country, its national currency is not so strong. So why price Bitcoin in $?

There could be many other more appropriate currencies like EUR, CNY or RUB...

Bitcoin is compared to US dollars because US dollars is the most common mode of exchange. For example in a forex company they usually comapare the price of their curency to 1 dollar. And in this manner it is easy to say if the status of bitcoin is good or bad as compared to US dollars

Gotomoon

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Quote from: jtipt on August 26, 2017, 10:52:34 PM

The simple reason why mostly BTC is expressed in USD is that USD is the most widely accepted currency and almost everyone is upto date with its price and economy. Yes USD might be going down in price this year, but it's still far more comfortable and easy to use USD than other currencies.

Bitcoin compare to Usd because USD is the most used currency worldwide. Usd as the currency worldwide but in bitcoin everyone can grab the opportunity to earn money. Because bitcoin is being rising the price and others wanted to invest just for profit. So however, btc is really comparable to dollar.

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