Topic: Why is bitcoin controlled by the dollar! - page 3. (Read 1795 times)
here's a newsflash for ya - gold is priced in dollars too. anything is gonna be priced in the most commonly used currency, no matter how shitty it is. that's the only practical way to measure anything.
Bitcoin at one stage was backed by nothing, people literally used to trade thousands of them for just a couple of pizzas yet alone making silk road users ultra rich when a really low price came into play compared to today's average price.
Users used to sell an ounce of green for 100 Bitcoins
that's almost $100,000 at bitcoins peak.
Users used to sell an ounce of green for 100 Bitcoins
that's almost $100,000 at bitcoins peak. 
What makes you think its backed by the us dollar? its got nothing to do with the us dollar, if its backed by the us dollar then its also backed by cny,gbp and every other currency around since its used worldwide and people cash out into all kinds of currencys. I can tell you now that ive never bought or sold bitcoin for usd and never will.
It's not "backed" by the USD, anymore than gold/silver/any commodity is. Just because USD/BTC rate is most commonly used to track Bitcoin value, it doesn't mean that Bitcoin is dependent on USD. You can use any other currency exchange rate (just like CNY/BTC is probably more popular in China) if that makes you happy.
bitcoin is mean't to be fiat independent. Why is its price/value backed by dollar, instead of the gold-standard.
In reality, we're still under the tight grips of central banks, United States, and the dollar!
This is a large issue which needs to be fixed, internally within our community and externally ...
Since dollar is the currency widely accepted,bitcoin prices are usually quoted against dollar for this reason.Bitcoin is independent of any fiat or cryptocurruncy.It exist on its own In reality, we're still under the tight grips of central banks, United States, and the dollar!
This is a large issue which needs to be fixed, internally within our community and externally ...
Bitcoin isn't backed by anything but a group of miners, a network of nodes and a faithful cultish following 
bitcoin is mean't to be fiat independent. Why is its price/value backed by dollar, instead of the gold-standard.
In reality, we're still under the tight grips of central banks, United States, and the dollar!
This is a large issue which needs to be fixed, internally within our community and externally ...
In reality, we're still under the tight grips of central banks, United States, and the dollar!
This is a large issue which needs to be fixed, internally within our community and externally ...
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