Bitcoin Forum

The world would be better, if the US dollar (dropped in value?)

yes, I agree with you about that. My country can get more USD for exporting a ton rice....

You are asking a question or are you declaring? And why would be better? Can you wright on what basis are you getting your conclusion?

Or is its just a statement to provoke a new discussion?

op is asking a question, not a conclusion? There are many scenarios we can imagine to get different conclusion. We can say no to his question as well.

I would like to hear your explanation for this. Would it benefit Bitcoin and gold? probably, but would it lead to major conflicts? maybe, so it's a 50/50.

The world would be better, if the US dollar - bought less bitcoin!
More seriously, if the US dollar wasn't being printed into oblivion, the world would be a better place.

The problem is a lot of people out there thing fiat currency is good because  institutions can create more credit so that people can borrow and invest, which in turn expands the size of the economic pie. "Fiat currency is good." they say. You can't never make these morons see the point of Bitcoin.

Sorry for complicating everything. This is an opinion which has been raised to me several times. However, as a question, I would like to get a clear insight on the reasons, why the world could be better off if the dollar dramatically dipped in value.

Yes, sure, I think so, too. My country will get much USD than with the same amount of rice for export

As the global reserve currency the dollar losing value does far more harm than good. Full prices would surge to levels that make food production much more expensive and people die when that happens. Countries that hold US dollar reserves would find themselves in a fiscal crisis over night. I am no fan of the dollar, but until there is something viable to replace it this fantasy of a dollar collapse is really short sighted.

The world would be better without clickbait.

Is there really a difference? Dollar going down in value won't change the price of bread in Germany. Maybe I fail to see the big picture, but here in Europe we don't use dollars and the only thing that changes along with is the price of imported goods. If you're planning to buy an iphone or are burning a lot of fuel every day the exchange rates might interest you.

Who decide what reserve currency will be? Can U.N. help? Can U.N. recommend America be chopped into smaller chunks so they behave more?

for me personally yes. i would convert my euros into us dollars to get more dollars.
currently us dollar is nearing 1:1 with the euro which is good for export to usa.

Yeah.. it would be better for my country ;D
And it would be better for me as well ;)

Not really. It would also effect the US economy and a lot of other country economies directly depend on that. So they will be taking a hit either way.

They could recommend it I suppose but Americans don't react well to such things. The UN has no real teeth anyway. Without countries like the US to give their policy some bite they would be pretty irrelevant.

That would have been a huge lose for us the Freelancer. Because initially we would have struggled to cope with price drop, specially on the international market. ??? ???

It seems to me that interest rate expectations are driving the market right now. Every day when they think it's going to start, they get nervous and sell them off. And every day they think it may be slower or not begin, then they take them up.

valued not too far from my country currency, yes it will affect everything if USD dropped as long as your country doesn't drop too.

If the US Dollar dropped then the Canadian dollar would hopefully be at PAR if it doesn't drop. Better value for those north of the border to shop in the US and help stimulate the economy a bit. Mainly Washington State and Oregon (No Tax).

Forget Canadians shopping across the border; a weakening currency might actually drive exports up and help bridge the trade deficit.
This is of course assuming other countries allow their currencies to appreciate.

It's funny how Bitcoin is the only weakening currency that makes me happier the "weaker" it gets, since it only means more opportunity to get something that is insanely underappreciated because it's too new.

Im too bored about traditional currencies to try to take any advantage from their ups and downs anymore.

Most of the world nations are keeping the vast majority of their Forex reserves in the form of USD (either in bills or in the form of treasury bonds). If the value of US Dollar drops, then all these countries will be in difficulty.

This is true and would be good for the economy; however, most of the economies are pinned to the US. Don't think it'd work in the long run; short term maybe?

Thats why the USD is the ultimate bastion for most fortunes, but sooner or later it will go down tho. The thing is I don't see all those so called doomsday scenarios happening as soon as the Alex Jones type person think it will.

was convertible at a fixed rate to silver or gold.  I actually wouldn't even mind a two tiered system where we had silver backed dollars and just greenbacks.

I realize this is a pipedream, but I really do think it would help common people have a better store of value and reinforce the USD as a useful currency for everyone.

I'd say it would be better if the US dollar dropped just a little. If it dropped too much, then a lot of countries around the world would be in difficulty, as a lot of countries depend on the US for a lot of economic related things. If it rises, then it is going to hurt US equities (in the short term), because the value of the companies' investments would flop as the US dollar rises. So that's why I do not want it to rise too high, and drop too low. A small drop would benefit many countries.

I don't want the dollar to drop its value because i am paid in dollars. If the dollar drops his value i have to increase my hourly rate in order to take the same amount of money i am taking now. I think it would better the dollar to increase its value :P

I live in Canada so for me, if the US dollar were to drop significantly tomorrow, I would be screwed, since most of my assets are invested in CAD, which is quite dependant on the USD. People don't seem to get the global economy is collapsing, and gold and Bitcoin is a good way to preserve your wealth.

yeah i agree
because if dollar dropped.. my country is not in crysis again

A lot of people are thinking of what good it will do for them individually, not for the whole world. Then how can an argument be about how the world would be better? Sure, some of your countries will benefit well but only for very very few days. And the other countries which are dependent on US dollar just as how US dollar is dependent on them, they will see a global economy collapse too. The economic system works because all of these countries work together. Therefore, it would do more harm than good.

There are a lot of countries which benefit when US dollar falls a little, which makes people believe that if it does drop a lot, they will benefit more and seek more profit/benefits. That's not exactly how it works, because the counties involved in this economic system are interdependent with each other, meaning change in one country definitely affects the other. Sometimes its positive, sometimes its really bad.

And then what will happen? If the us dollar worth less what can be taken with that to much dollar. The same thing. Much dollars, less value for one dollar, same things can be bought. Very simple mate. Or not?

Your crisis in your country have nothing to do with the us dollar but with the factors within your country. Us dollar is the money of the United States of America and if it will be crisis because of dollars there will be only there. If you produce thing that can be exported your will have dollars and if not you will not have. That's all the connection between us dollar and your economy.

US Dollar being a global currency does affects the movement of finance and influences decisions which often have nothing to do with the U.S. There is more connection of a country's economy and the US dollar. If goods are exported from a country, let's assume it to be India. Now India gets US dollars for supplying food to the US like rice, flour, etc. Sometimes, there is a barter trade which takes place, sometimes they are given as gifts and donations... its not only about profit and loss and import/export.

The world will better if I will have more us dollar. In this way i can do a better life and can have the money for the college of my daughters. Then I can help the others to realize their need. Those things can be made independently from the value of the us dollar. But to make as more as it possible it will be better if the value of us dollar be high compared to other currencies. In this way can be made more things with few dollars.

Yes obviously it will increase the supply of anything to other countries as till now lots of currency are lower than USD. But I doubt it will happen suddenly because for the price drop most of the countries have to be developed which take more than centuries.

This question presupposes that a collapse of the currency will lead to a Mad Max-style anarchy scenario. Anything could happen, and sometimes countries experience unrest during a currency collapse and debt crisis, but normally it isn't the case that this leads to a total collapse of society. What is the case is that imports get more expensive and exports become more competitive. So there wouldn't necessarily be a need to flee America. Instead there would be some nasty rising prices on imports and commodities. But on the plus side, you would have a better chance of succeeding at setting up a manufacturing plant and exporting your goods. So if you're keen on opening a factory and shipping stuff overseas, the U.S. could be a good country to be in when the dollar weakens.

The effect of devalued dollar reserves on foreign countries is less clear and probably depends on each country. But it also seems unlikely that it would lead to a mass collapse of order. In 2008, debt collapsed in value across multiple countries- directly affecting consumers- and none of them fell into disorder.

yes and i will say that the world would be better if the US Dollar remain stable, as economy of the most fo the countries are depending on  US Dollar therefore if US Dollar remain stable their economy will also be stable on other side most of the people are receiving their salary in US Dollar therefore they salary will also be effect if Dollar price fell down.

Not always. It depends on the commercial balance and other economic categories: foreign investments, government assets abroad...

The exchange rate affects heavily the net exports. If USD is weak, US exports will be more attractive for the rest (Europe will buy more goods). With a strong USD, US purchases will be cheaper for them (they could buy asian and african commodities at better price)

The net effect depends on the aggregated elasticity

if the dollar falls in value - is a crisis. From this to the affected population. Therefore, it would be better if it strengthens its position

That is not true.US dollar has become major currency for international trade.Any drop in its value will not make anything better unless we have a better alternative acceptable to every one.Bitcoin can be a good alternative but it wont be easily acceptable to all countries

The world would be better, if the US dollar is going to allow other countries depend the value of their local currency for their respective estimations.

Because the dollar is one that is making almost all countries depend on their economic growth and if Us crashes then their followers will have crisis also.

I think that will make the world better.

I do not thing that the matter of the world is dependent on the value of US dollar. it only affect the financial matter and not the matter of the whole world. I will say that the world will be better if everyone will be educated well and everyone respect each others' economy.

The world would be better, if the US dollar will increase its value, I am sorry I am little bit selfish and maybe the appropriate word to say for me is that my world would be better if the US dollar will increase its value because I am not living in US and dollar is a stronger currency when converted to our currency and that would make me earn more working online and all my ventures as well.

if the us dollar will be digitized and converted into bitcoins

A century is too long for that development but remember that we now have advance technology which helps you achieve in few minutes what may take you months or years. You can expect to see the development take place as soon as possible provided the people are truly dedicated to see its realization.

well, maybe the world would be better if the dollar is very easy to obtain as bitcoin. Well, with so many people who have lots of money and I think a lot of people who are eager to find dollars. Well, now mostly unemployed looking for bitcoin because it was easy to get. so, when the dollar easily obtained, maybe a lot of people who contest the dollar

The world would be better if US Dollar was not that hard to obtain but not that easy either just like bitcoin. That way it requires less effort to get some dollars and if that happens, I think only a few will suffer poverty. Because of poverty that is lessened, it will make the world better and of course it will open many possibilities that might happen if that just happened.

yeah you will earn more money if dollar stronger since your currency is "weak" but it also will affect the price of stuff around you,those stuffs's price will be rising and it's mean your higher earning would result into nothing or i can say not going to give any affect

If USD will be 1:1 same value of currency in my country.. but that's next to impossible. Before our country was able to do that and that was way way back before.

So I think you would be choose for bitcoin only. Even I will go with bitcoin because it is the best stock around the world in near future. Everyone will run behind the bitcoin and all greedy to buy bitcoins. Do any one knows Microsoft products were accepted by bitcoins to purchase their products.

The world would be better if US dollar dropped the price. I.think it's overestimated at the moment. That would be also better for US economy especialy regardind export because US products would become more popular on the international market. That would also mean better income for US workers in production and perhaps more new working places. But I don't think that at this moment the dollar price will fall down.

yea then world would be better more better euro currency more better for everybody so i dollar go down more better for everybody

Re: The world would be better, if the US dollar...

If the US dollar dropped in price relative to what standard?  Many currencies are based on a standard relative to the US dollar so it probably wouldn't be a good thing for those places in the world that do.  Are we talking about purchasing power, exchange rates, interest rates....what?

Would be great if the us dollar were the currencie of all countries, or even euro, the current system makes people buy or not accordingly the value of dollar, i may choose to travel or not, the same way some companies does the same, they expect for dollar week to purchase equipments.

Some of you is missing the point here. Dollar is FIAT money, one of top world's currencies.
And now listen - what will happened if suddenly dollar's price went down like crazy or US economy crashed bringing dollar down with it?
Euro (or another strong, highly regarded FIAT currency) would take its place! Nothing will change! Except the name of top dog currency will be EURO not USD!

 :o :o
I guess making 1:1 dollar can help the economy in other country since the value of dollar is so high, then being in equal to the value of dollar can help other's economical status.

The world would be better if the US dollar was still pegged to some good and was exchangeable for said good at any point. This goes for all currencies throughout the world, however the US was one of the big changes that lead us down the path of fiat currencies.

Stop backing a currency with nothing, back it with some sort of tangible good.

That would be better for the U.S., not for the entire world... :D I don't think it's not going to happen again in our lifetime - there are simply not enough precious metals to provide backing for all forms of USD funds out in the wild. At least not at current market prices for precious metals. But even if precious metal prices would be adjusted upwards to provide for sufficient backing it would be largely unfeasible, because the amount of gold or silver you would obtain for one USD would be so small that it couldn't be easily paid out.

In my opinion the world would be better, if the USD ceased to be a global trade currency. The U.S. economic power effectively rests on the importance of the USD for global trade. To maintain this position, the U.S. are using military force as they see fit.

Luckily, Bitcoin is able to solve both problems at the same time. Bitcoin will end the reign of fiat scam money altogether. It is nonpolitical sound money. That's the best money the world can hope for.

ya.ya.yo!

I'm not sure about this. Theoretically, like many people are saying in this thread, it would be possible to get more USD for a ton of rice or whatever. But on the other hand you would be able to buy less goods for the dollars you obtained.

And there is one more thing, which is significant IMO. In poor countries with unstable economy many people keep their savings in USD. What would happen to them then?

Such situation of Dollar going down won't happen anymore, because USD is very strong with increased usage as well value. In my view if price falls, we the bitcoin users too will suffer a lot, because bitcoin value right now is calculated in terms of USD as direct acceptance of bitcoin is not found much worldwide.

The world would be better if the US dollar turns out to be Bitcoin. That means the world strongest currency would be Bitcoin. This would make a lot of significant changes in the world economy and some government in the world. Basically, developed country would subsidize under develop country by bitcoin, which would make bitcoin even stronger.

Yes you are absolutely right .if the usd drops then it will be helpful for import and export business .it will also be useful for the students who want to pursue thei career in Usa .as students diffetent parts of the world come here and dream to study here.