Bitcoin Forum

Can BTC restructure a new financial order? Can BTC or another kind of cryptocurrency beat down the U.S. dollar? What's your opinion?

Maybe in a world that can be united we can make bitcoin beat the US Dollar and any other fiat money for that matter. The problem is that unity is something that is elusive in this world...heck even the bitcoin industry itself is not united as we have witnessed so many bickering and self-vested interests showing us the weaknesses of the human nature. The idea that bitcoin (or maybe another cryptocurrency) to become one global currency can never happen -- not in my lifetime maybe. This kind of idea l is existing only in pipe dreams.

The US dollars doesn't need any help in beating itself down.   It's like that one friend who always has his or her credit cards maxed out and still hasn't even paid off their mortgage.

BTC will replace Gold, Time will replace Fiat

bitcoin is not made to beat anything down, or replace anything. it is just there as the additional option for people who don't like the current available broken options that in most cases are in a corrupted economy controlled by the banks and the governments.
other than that, US dollar has been beating itself down without needing help from external sources.

As I think bitcoin will not be able to beat the dollar, it is very difficult to replace a single currency in a unified form, it will need to be very weak in order to make bitcoin replace any of the nominal currencies. That dollar shows up in the US economy, while bitcoin doesn't say it.

I wonder why people are creating a competition between dollars and Bitcoin where in fact they both work good together. Dollar has been through a lot and is being recognized all over the world. Bitcoin still has a lot of adoptions as well as rejections to face. Dollar is well established and is approved and supported by the government.

Agree, it was created to be an alternative not a replacement. However, if the current state of the government will go on, any currency will fall, not just dollar.

Nope. Perhaps gold but I doubt that too, people will always give gold more value because the chances of it going to 0 are basically 0 too. The chances of bitcoin dying are low but not impossible, there are many things that could crash bitcoin for good, from government bans around the world to some exploit/bug in the code.

It is amazing that many people still hold the idea that bitcoin is going to supplant the fiat currency. I don't think it will happen within the next decade nor in the next 50 years. And if ever the US Dollar can collapse it will not be because of bitcoin but the country's economy is not as great as anymore. The role of bitcoin (at least for me) is to become an alternative currency to the decentralized fiat money we are used to and maybe to also become a storage of value (the same role that of the physical gold).

Majority of the crypto community do strongly believe that BTC will replace FIAT sometime in the future which will never happen in my opinion. They simply have gotten tired of FIAT which is why they want BTC to become the new king.

What they fail to understand is that BTC is primarily viewed as an asset instead of a currency at present which needs to be reversed with time hopefully. Adoption rates need to rise drastically to help achieve this.

Don't think of it as just against the USD! This is a problem with all FIAT money! Bitcoin's aim is to create decentralized market conditions.

The dollar today is the main world currency.In order for the crypto currency to take the place of the dollar,it is necessary that most people start using the crypto currency and not the dollar.It is now difficult to solve of course,but in the future it is quite possible.

The blockchain technology might help for changing the global financial order.BTC is just a currency and 90% of users are just hodling and waiting for a better price,so they could sell and cashout their dollars.

The US dollar has been on a continues value decline because of US excessive growing debt profile and the unwillingness to pay off the debt in the sum of trillions of dollars. Some angry countries are started looking for a way to bypass the US dollar in the international market, which will further affect the US dollars. We don't know when the dollar will become totally useless. Let's hope there is a policy change and they stop mass printing of the dollar.

Good explanation! Thanks.

No matter how far it declines, it will always be perceived as the most important currency in the world unless the US government does something extremely messy(Low chances) which is why it is simply wishful thinking that BTC will replace it in the future.

The debt will go down over time and countries won't simply boycott the dollar considering the interconnections between it and other global currencies. If it were to collapse, the world might get plunged into a horrible situation.

I don't think bitcoin will beat US dollar. They have different functions. Instead of thinking if bitcoin can beat US dollar, it's better to think how good they can work together. It's not its aim to beat US dollar or fiat.

No,  not unless people use it the same as we use currencies we have everyday,  most specially US dollar.  US dollar is considered as a global currency. Everyone knows it, accept it and acknowledge it, most specially governments. We all know that a government plays an important role in implementing things to be accepted and used by the people. We are also aware that BTC are not really accepted by some governments which is one of the reasons why it can't beat US dollar or any other fiat currencies we have now.

There is a big chance that it will happen as bitcoin is widely accepted already and it's price is keep on increasing. Once bitcoin will be accepted even by 90% of the countries then it can surely beat U.S Dollars.

But I am not sure if there are other good currencies that can beat U.S Dollar aside from bitcoin as almost all the other currencies are dependent to bitcoin prices.

Bitcoin will not be able to replace fiat, at least not at its current capacity. There is still a lot of things to fix before bitcoin can be used as easily as we use fiat now.

It is better used as an alternative to dollar or fiat than a replacement. As broken as dollar or fiat is, bitcoin still cannot be used to replace it.

I think no, because bitcoin is volatile, while USD currency is more "stable" than bitcoin, and we need both because US will not accept bitcoin as a currency and also can appear problem of limited supply.

Bitcoin can never beat the US dollar in terms of usability, but I'm sure as hell that it already got the regulators and financial magnates thinking. Honestly, bitcoin shook down all the stereotypes the bankers and governments tagged it into, and it just keeps on giving and giving every time. It was a great all-around financial tool, but certainly lacking towards being controlled since that is what most countries needed their money to be in order to adjust depending on the current economic situation. The USD and its fiat companions are excellent at that, though it also brought many problems alongside it.

U.S government won't let Bitcoin or any cryptocurrency takeover their fiat. You don't know U.S government can do if you believe it will happen.

You should understand that cryptocurrency will be able to defeat Fiat if everyone is interested in it, and government structures will stop influencing it.  but since as many users of cryptocurrency are trying to avoid paying taxes, because they also have a big real business, even today such countries as the United States of America, Canada, the Netherlands, London and Australia are creating an appropriate structure that will fight cryptocurrency abuse  certain people who are trying to avoid taxation ..

I think bitcoin was created not for that and bitcoin itself cannot be compared to fiat. Bitcoin was created by Satoshi for financial freedom and Bitcoin itself has a different system, no one even regulates it.
If only true bitcoin can replace the dollar, then how to fix the price of bitcoin? I think these two currencies work together and both are the best in their own system.

certainly BTC can.  today BTC only needs world recognition to compete with dollars.  we need crypto regulation to increase the popularity of BTC.  BTC will not become a global standard, but BTC will be used for global transactions.

For this current time, I think that it will be difficult for cryptocurrency to beat down the US dollars. USD is the universal or global currency in the world to be used as a rate. It has been being used for any kinds of payment, transaction, and utility by all societies. On the other side, BTC is a digital money/currency, not all people or merchants will accept this. However, it doesn't also close the chance for the next 10 years maybe.

Not right now no. But.... it already is a global currency with no ties to any one country and thus can be accepted anywhere. This has never been done. Currency value has always depended on the culture of the country and how they deal with their economy. Bitcoin is much broader so it makes sense it is volatile right now. Just give it some time we need new adopters and I am sure the halving will make an impact too.

BITCOIN  exist with no intention on beating down other currencies, bitcoin was being design to become one of the fast and reliable payment for any transaction and hassle free and its still keeps on developing, or shall we say soon bitcoin is the other side of USD, most trusted and most valuable currencies as of today.

U.S Dollar is the sign of power while bitcoin is a sign of freedom, there's no need for bitcoin to beat dollar as they can coexist together and let the
people decides which payment process to use when adoptions for bitcoin will take place around the world.

For now it seems very difficult to beat or take the position of the US Dollar. Because it's still too early for Bitcoin for that, and it's still not accepted throughout the country. Especially in the case of buying and selling goods in the real world everyday. The possibility is very small and almost impossible.

First you have to distinguish between fiat currency and cryptocurrency. It is likely that BTC can restructure the new financial order, but all require a not short time process. Need a process for uniform adaptation, but to beat the US dollar, it's very difficult !!

This is a frequently asked question and answers run the gamut depending on how people feel about cryptocurrencies and bitcoin. The bitcoin maximalists believe bitcoin will eventually become the global reserve currency, implying a value of at least $250,000. There are maximalists of other coins that are similarly optimistic. Others like myself believe bitcoin will coexist with the U.S. dollar and other fiat currencies, and rather than replacing them will simply be an alternative means of exchange and store of value.

look when you have great question better ask smart economist he will tell you rather to listen people here....

the main mission of bitcoin is to compete with them and bring them down...nothing else....

in 0th3r w0rds if s0me0ne say to you that uber didnt come to compete taxi industry....hell its so simple to find answers but if you not sure it always better to ask few pro people in this vertical and see the middle between this answers

but yes bitcoin came from the idea of peer to peer file sharing like bitorrnet or napster just with small twist nothing more

Napster (Napster was Fanning's nickname in high school, because of his hair) is a different way to distribute MP3 files. Instead of storing the songs on a central computer, the songs live on users' machines. This is called peer-to-peer sharing, or P2P

do you thing uber didnt come to compete taxi or lyft or any other startup rise ...the only one reason is to compete and the main mission is to control and be monopoly like google and youtube...

so here you have very simple answer  that the main mission of bitcoin is to compete other paper money that lose value and the prices in supermarkets and other things go up and much more...deep

not only compete but bring all of them down...like any other startup but here its peer to peer ...

ask smart economist about what i said to you...

bitcoin will replace them... usa in 20 trillion debt do you know whats its mean....now the usd affect other paper money as world main currency..

alot of coins in the world dont have value like india russia israel ukrine china and other shit.....the replacment will happen fast....

+-------->>>>

business will happy to be paid by crypto because the prices slowly go up....this is very deep deep ...this is where it will explode so hard....compare to russia crappy coin or india or other shitty coins which not worth nothing and not only this the main currency which affect all of them is in 20 trillion debt


hell only smart economist can understand this...

Cryptocurrency does not have any significant effect on the usual currency. Strengthening or weakening of the dollar can have an impact on the price of bitcoin, but I do not see that the price of bitcoin has the opposite effect on the dollar.
In general, these currencies will not compete with each other. Cryptocurrency will exist in normal currency and can not replace them. As a result, they should complement each other with their different capabilities.

It can't establish a new financial order, because it doesn't have enough users, it's estimated that 0.5-2% of the global population use Bitcoin, and they don't even use it on a daily basis, most of them just hodl, trade and very rarely pay. Bitcoin is already 10 years old, and in this age new things get picked up almost instantly, Twitter, Facebook and other services got millions of users in their first years, If Bitcoin didn't manage to get big now, there's a good chance that it will never become big.
From what I see Bitcoin will always be more of a tool for a specific purposes, like avoiding banks when you have a good reason to, cheap international transactions, decentralized store of value, microtransactions with LN.

The US dollar is the base currency of which most financial asset is pegged to and use to value it, with Bitcoin overpowering USD in terms of value seems impossible to achieve since the US dollar is more lucrative to hold for investors than Bitcoin.

there will be times very soon you will need to delete this post hhhhh...

most of the coins in the world totally crap and the main one usd almost crashed the euro price and 20 trillion debt go to smart economist he will tell you smart investors dont hold money in the banks of usa or go do research in the interent find your self so sad to see people throw people to much shit withou any deep research

I think you right and bitcoin was designed as an alternative to using government issues funds so that is outside their control and in the peoples. Bitcoin is not trying to convert people, rather people arrive at their own accord. There a few too many that think of bitcoin as stocks rather than currency though. These are unbelievers and really have no place in the world of crypto

bence dolar çok artmaz bu seviyelerde yoluna devam eder..

Bitcoin has had ten long years to demonstrate its full potential as a strong competitor of the dollar in search of a new financial order, and apparently the results are still very limited, which in my opinion is a clear sign that the Bitcoin is not the answer that society is looking for.

I think bitcoin has become an attractive coin for people involved in the digital-technological field, but this sector is still too small to be of great relevance in the global economy, so the chances of a mass adoption still seem very distant for me, so for a long time the dollar will continue to reign as the world's dominant currency.

the existence of bitcoin is not intended to beat US Dollar
Bitcoin is here to be another choice for various currencies that exist today
btw, i'm curious about the fate of the US Dollar in the ongoing trade war between the USA and China  :o ::)

I believe it so. The existence of cryptocurrency most specifically for Bitcoin is not for competing for fiat money but it is to give us another option which one we have to use in certain transactions. It could be easier for us to use crypto in an online transaction that it takes advantage over fiat.


Competition keeps rising between the two but I don't think that it will affect USD.

In sort of way bitcoin already beaten down dollar, as we can see the inflation, the trade war between China and the financial crisis already make the value become worse and worse, bitcoin already win in so many aspects from the value until the feature, it was created to make people have a better transaction system, its not intended to beat down any fiat, but in reality btc is more convenient to used

Bitcoin is created not to compete with the present currency but serves as another alternative to be chosen by the people.Having this fact,U.S.dollar should not fear about the rising of bitcoin because there is no competition involved especially at the present time that bitcoin is not yet accepted by most of the governments to be used as a currency.

Maybe BTC or other cryptocurrency can beat U.S. dollar in it`s profitability, I mean you can use BTC or cryptocurrency as an asset to earn profit with trading, mining, etc.. But generally USD is hard to beat as long as American government is backing it.

The upsurge in the Bitcoin price has shaken the U.S. Dollar for a while, and it might be a trailer only  ;) because sooner or later it is going to happen that Bitcoin will be a dominating currency for the U.S. Dollar and other traditional assets.

That's a big question and I like to be conservative for now, I think it will only happen once massive adoptoin is achieve, but as long as USD is still the most dominant currency in the world and people trust fiat over crypto, that would  not happen soon.

It is likely that this will happen. But it will definitely not be in the next 5 years. If only the dollar itself does not completely discredit the future financial crisis. The problem is that no one knows how cryptocurrency will behave during mass use. It is quite possible that we will face big problems when introducing Bitcoin into the existing financial system. In addition, the problem of speed of transactions has not been solved yet, and this is a very important problem.

What a great reply! You have point sir! Unfortunately, many people are still looking those currencies as both enemies wherein they quarreling and battling for same position. We do not need anymore to create war between them since they have both the same usage and people will use them at the same time and in right place.

Japan is buying 100 F-35 fighter jets from United States of America (USA) for $10 billion. US Dollar will be the KING.

Only $150 billion invested in Bitcoins. Microsoft is worth $1,000,000,000,000. Where is Bitcoin is front of US Dollar. Why you post nonsense ??

BTC/USD does more than $20Million worth of volume on a daily basis - so this is something that is amazing to watch.

But - my confidence in bitcoin comes from the fact that. These large holders cannot cash out 300K worth of BTC at these levels... it will damage the market in an irrepairable way, they must first boost the price (severely) to attract an even larger pool of new buyers into the market...

This is what they're in the process of doing as we speak... they will be doing this over the next one year and a half.

US dollar was already established their roots on currency so i guess it's doesn't matter anymore whether bitcoin will be beating USD. Maybe few years from now we will be witnessing that but momentarily let's celebrate of what bitcoin have achieve for couple of years by putting crypto currency in the world map so that everyone have a freedom on banks and government using decentralized blockchain in our daily lives routine.

I really don't think so. US dollar has been adopted and circulated all throughout the world and its been used and value. Bringing bitcoin in to beat dollar is impossible cos the US can't allow such to happen instead the dismantle bitcoin

Beating down U.S Dollar is not have big effect for bitcoin and altcoin, always bitcoin support by investor want to invest their money in bitcoin or altcoin not by using U.S Dollar.

Why you think that bitcoin will replace in gold or fiat?
Bitcoin will not replace in any-other things like gold and fiat, bitcoin is not made for replacement.
To come in the point, dollar is not need to beating down, may be in the coming years dollar will be beating down by itself.   

I don't see any connection or competition between the US dollar and bitcoin. I hope people would just see bitcoin as a cryptocurrency that is here to change the old financial order that exist in many parts of the world. We live in an interesting world, where everything is moving at a great speed and bitcoin is just  revolutionary currency.

Hm now I think after the announcement of Libra it can be possible.