Why compare BTC to USD? - page 3. | Bitcointalksearch.org

signup01

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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...

is said to be better maybe but if bitcoin has been inaugurated by the government in that country if in my country maybe not yet to do that because government still prohibit to do transaction directly with bitcoin

paynercash

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Quote from: xhoondilan on April 19, 2018, 09:20:17 AM

I think they choose USD because its very popular in the world, one thing is it's our national money so basically it is priority rather than other money. Even though other currencies are higher than dollar it's because of their economy and minerals which affect their currency value although they are not popular they still higher than USD. For me dollar is good to be compare to bitcoin.

But I can not compare dollars with Bitcoin because they do not have the same value for measurement. Bitcats are a valuable asset, Money is a legal currency, a tool in the economy so we can not compare them.

reverseflash

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At the moment dollar - the most widespread currency in the world. Therefore are guided by her at the indication of the current price.

arion6868

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maybe it just because of USD is common use in every field like currency, trading, transportation, etc.. so even this bitcoin start from japan and yet it still using USD to BTC

5ensei

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Coinmarketcap and coingecko both allow you to change the currency to your home country's currency, but for simplicity as it s a globally traded currency it is easier to help compare prices if USD is used as the benchmark.

Slugmonkey

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USD is considered as the central medium of exchange among the countries and hence, it is quite dominant among the world's currency system. Same is the case with the BTC, which is a central medium of exchange as well as is dominant. But still cryptocurrencies and fiat currencies are very different from each other and isn't possible for cryptos to replace fiat anytime soon.

xhoondilan

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I think they choose USD because its very popular in the world, one thing is it's our national money so basically it is priority rather than other money. Even though other currencies are higher than dollar it's because of their economy and minerals which affect their currency value although they are not popular they still higher than USD. For me dollar is good to be compare to bitcoin.

Chinatsu Akasaki

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Because the currency of US is widely used around the world so their currency is used as the standard. It is also used as a basis for the prices of common commodities around the world so it is used to compare BTC to USD?

feny.blackpink

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because many peoples come to bitcoin to invest. They bought bitcoin with their USD.
And someday when bitcoin price has increased high, they will sell it to USD back.

Rhaizan

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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...

I really don't know why bitcoin always measured by USD but I didn't see any problem about that as long as we can use it every day and we can convert it into our local currency .i guess usd is the most common fiat thats why bitcoin compare to usd.

Kingjagat

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Quote from: Rubble898zaitO on February 20, 2018, 07:53:03 AM

I think the reason behind this is that US Dollar is the world's standard currency. It is like English language which is universally known and used. There should be a standard currency where it will always be converted every time, I think that's SOP and nothing about American Bitcoin users or what not.

I think in the case with USD all payments offline done in dollars and is a currency Fiat most stable of all time. and also received in many countries in the world in store offline. that's the reason why bitcoin stated the price in USD. USD familiar for everyone, in the market online almost all payments done in bitcoin

xraisers

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There are several reasons people compare these two because dollar is our universal currency and bitcoin has potential to be global currency even it has no paper money or physical coin. But for now i do not think we need to compare these two because this is not in the same dimension of currency, one is centralized and one is decentralized. But hoping soon bitcoin would create a paper money to used by all people.

damntravis

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It's because you can't pay with bitcoin everywhere, so right now USD is more useful as payment option.

lanareyDEY

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The first crypto currency lost 10% of its value and is currently trading at $ 10,474. Of the 100 largest coins in terms of capitalization, only three are in the "green zone", the rest - cheaper

AlexAtom

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you are right, i wonder why too.
maybe it is because the most of bitcoin investor want their FIAT come back multiple times.
so they often compare it with FIAT currency.

lanareyDEY

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The first crypto currency lost 10% of its value and is currently trading at $ 10,474. Of the 100 largest coins in terms of capitalization, only three are in the "green zone", the rest - cheaper

tradeviser

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Many people think that bitcoin is money. So, they always compare bitcoin with dollars, where usd is currently into international money.

shoreno

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Quote from: Risktaker31 on February 22, 2018, 11:15:52 AM

Usd is the standard unit of currency in the international trade it isn't that hard to exchange it to your local money exchanger. Anything that has a value is being priced by USD because it is the international currency thats being used worldwide. The crash on USD value doesn't affect the bitcoins value.

correct. But many of people are still comparing the usd between bitcoin because they are both currencies and the only difference between them is that bitcoin is a digital and mainly works online or with the help of internet. Usd or united states dollar on the other hand is physically made and it is much easier to use because anyone can use it and every merchants do accept it. that is why i think usd is still the best when it comes to payment purposes.

StuartBTCETH

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US dollar is the most traded currency even above yen. so naturally it is given the top priority

PricelessBing

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For example why everyone wants to study in USA? Every developing country people knows of USA only when they are mentioned of any foreign places.

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