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Title: A new perspective, the USD/BTC pair Post by: SirArthur on February 04, 2018, 03:18:40 AM Most of people still thinks by what they are more used to, an European will say the Euro worth 1.20 USD whereas an American will say the USD worth 0.8 EUR.
So most people just does the same for BTC, they think on how much fiat a BTC worth but never care to check the opposite: how much BTC the fiat worth. And here things get interesting. You see that huge climb at December to 20k? If you see it on the opposite site it just looks like a flat line. At the moment everybody keeps saying BTC worth 9000 something USD, but nobody sees it means each USD worth ~0.0001 BTC Here's a peek at the other side of the mirror: https://image.ibb.co/dTUPJm/USDBTC_1_Y.jpg 1 Year view https://preview.ibb.co/kSekPR/USDBTC_1m.jpg 3 month view Title: Re: A new perspective, the USD/BTC pair Post by: TERA2 on February 04, 2018, 05:29:32 AM Title: Re: A new perspective, the USD/BTC pair Post by: SirArthur on February 04, 2018, 01:06:00 PM Curious, isn't it? The massive devaluation of USD happened by late 2016, December 2017 is a nearly flat line. Basically USD devalued so much that a tiny move will result on a mountain at the other end. Title: Re: A new perspective, the USD/BTC pair Post by: okala on February 04, 2018, 03:01:21 PM Nice view on the way we think about bitcoin, many ofriends us see it as the way it related to usd or other fiat and that is why we always said bitcoin is a bubble or bitcoin is a scam and many government are warning it citizen "not to put there money into bitcoin" but have we really realized what bitcoin really stand for. The beauty of block chain technology cannot be compared to any countries financial system.
Title: Re: A new perspective, the USD/BTC pair Post by: laurenB7742 on February 04, 2018, 04:53:33 PM I believe that some day, maybe 20 years from now, we will stop comparing Bitcoin to USD. Because there will be enough options to use bitcoin and it will not matter anymore how much USD is one Bitcoin. One bitcoin is one bitcoin and will stay 1 BTC. One half of population will keep using fiat only and the other half will use cryptocurrencies only. So those people, who have Bitcoins will look at USD from that perspective that you presented. How much bitcoins is one USD worth. And I am sure that one dollar will be worth less and less bitcoins.
Title: Re: A new perspective, the USD/BTC pair Post by: nokati on February 04, 2018, 06:54:58 PM Finally some good post having food for the mind. Thanks!
Title: Re: A new perspective, the USD/BTC pair Post by: jimbo2000 on February 04, 2018, 07:06:03 PM This is an interesting perspective and frankly is a little hard to really conceptualize and believe because it looks so so different, in theory it should be a near perfect inverse. USD has devalued in recent months against other currencies but not to such an extent as appears to be shown in the graph.
Title: Re: A new perspective, the USD/BTC pair Post by: Nosk on February 05, 2018, 03:07:12 AM This is for post adoption stage, but we are not there yet. For now the very vital point is the bitcoin's value before it became a one-world currency, Depending on the market value, the future will either be: 100 Satoshi per meal or 1 BTC per meal. If you are hodling your BTC, you know what is better for you, whatever your perspective, Bitcoin/USD value will always be in our heads. 1 btc per meal ? Well I hope that in 2020 there will be no more than 21 million people on earth wanting to eat at the same time. |
