Bitcoin Forum

lets say usa dollar and all currencies will be highly devalued .....then how we know the btc value??

most traders use USDT so if something happens with usa dollar is my USDT Will be worthless over night?

USD will never become worthless as long as there are still people who want to live in the US and I tell you, there are plenty.

At least not the physical USD notes. I am not sure about the banks though.

USDT is a lot different story...

BTC's value is whatever you believe it is.

Do you believe btc's value is $12k because some exchange tells you?

BTC's real value for you is the price that'd make you cash em all out.

Nothing else. From which price would you cash out? $100k? That means your price is $100k for a coin.

I think the value of the US dollars will be stable because they are highly liquid and are stockpiled by large nations and large corporations as assets. The dollar will depreciate but to the extent that it represents America's economy.
In addition to trading Bitcoin with the dollar, we also see trading Bitcoin with other currencies like Yen, Renminbi, Euro, British Pound ...
If the dollar loses its value, then the other currencies will help balance the value and the Bitcoin / Dollar will rise in value.

Are you talking about price or value? Both are different things, value depends on the community for bitcoin and price depend on the exchange rates. It's true if bitcoin loses price rapidly then the community would be regret, as a result, Bitcoin would lose its value. I don't think USD will be devalued, but if in case it happens, then Bitcoin value would reduce as well. Because eventually, we measure bitcoin price with USD. On the other hand, USDT will lose value at the same time. But not sure if its effect on USDT price. Overall I want to say, in the end, we need to cash out our bitcoin, so if fiat like USD loses its value then we can't expect a high value for Bitcoin as well, it's not a matter of price. When bitcoin's price increase against USD means USD losing price against bitcoin when Bitcoin dump hardly means Bitcoin losing price against USD.

How wouldn't you? If USD would drop down in value, then chances are, BTC's value will go up. And if you think if USD becomes worthless over night, then you're delusional as that's very very VERY unlikely to happen. The United States has a lot of control over the country through their official currency, so why would they give it up?

USDT being worthless over night on the other hand, is a different topic.

Well, the value of fiat currencies are typically measured against prices of goods and services. If prices of goods and services in a particular country rise sharply it's most likely that its fiat currency lost it's value.. possibly due to inflation of the fiat currency or scarcity of goods/services . Stablecoin backed by the fiat currency will be affected if it really follows the price of the currency. 
This won't be the case with deflationary currency like Bitcoin.  As price of Bitcoin increases due to high demand, prices of goods and services become cheap and affordable for people who own bitcoins. This is why good deflationary currencies are better Store of Value than stablecoins.

While defining Bitcoin is relation to USD is what we often do, it doesn't mean that there won't be a way of defining the price and value of Bitcoin if it goes down. For one, if we decide to stick with fiat-Bitcoin pair, the price of BTC will simply be defined in EUR, Chinese Yuan or some other fiat. But another more important point I want to make is that Bitcoin as money should be defined by its purchasing power. So while it's simple to say that one Bitcoin is worth $10 thousand, what it really means is that certain goods and services worth $10k can be bought with 1 BTC. At least, that's how I think it's supposed to be, and that's how fiat currencies are evaluated (by their purchasing power), so why not do that with BTC as well.

im asking just to want to be safe btc is not safe it can go up and down.
and exchangers stable coins most popular ones are USDT.

Yes most people think the USD will be worthless or let me say the fiat but the truth is that it's not possible because we need the fiat to know the value of each crypto we hold especially the USD.

solution should we swich  to eur or other stable currenies?

If you say we should switch to stable coins you are still talking about fiat currencies.

In contrast to popular belief, USDT isn't safe either. If anything, if you'd force me to choose where I'd store 100% of my wealth, I'd choose bitcoin instead of USDT. We don't even know if the USDT are backed by real dollars or not. At least with bitcoin, sure it's going to go up and down, but it's guaranteed to have some value and that I believe it's going to be more expensive in the far future.

I don't think that USD has been under such attack but fiat in general. USD is not worthless, it is used for every buying anywhere in the world for trade. The cryptocurrency is coming as an alternative perhaps as it has been used.

Here is let me tell you that bitcoin   can go standalone.
In case there is inflation occurred everywhere , you know 1 bitcoin could give you a value equal to 1 SUV car and then you traded it, between the dealer and the buyer both agreed the value of that 1 SUV car is =1 bitcoin , period.
So yes bitcoin value will not always bonded to fiat like usd or any other currency.
We never know what the future holds but you should believe there is a future for bitcoin.

If all the fiat currency, devalued or goes deeper, we cant guarantee that bitcoin will go up because people are panicking and traders as well. It wont happen overnight and It is being predicted by the economist all you have to do is to keep yourself updated. Convert to gold as much as possible because there is no certainty in bitcoin and it’s very volatile and unpredictable, but if you’re a risk taker keep going.

Theoretically, Bitcoin should immediately rise, because it's not correlated with the US dollar and it has fixed supply, but on practice it might be delayed - maybe Bitcoin will be low on investor's priority list if a huge currency devaluation will happen.


Yes, USDT will be as worthless as the US dollar, that's the point of a stablecoin, it's pegged to its currency.

Of course, historical average annual inflation has been around 3% for many years. Even if the USD and other currencies are devalued a lot, and in fact this has been happening for many years, it will take a long time to become worthless. By then, there would be other ways to reference the purchasing power of bitcoin without referring it to the USD, as has historically been done with gold.

So stop!
You say that
>Do you believe btc's value is $12k because some exchange tells you?
BTC's real value for you is the price that'd make you cash em all out.
Nothing else. From which price would you cash out? $100k? That means your price is $100k for a coin.
but this is absolutely not the case.

The "cost" of something is a measure that ANOTHER person is willing to pay for your product. In our situation, any cryptocurrency is still a commodity that we buy for dollars and then sell for the same dollars.
If you say "my 1 BTC is worth 100k dollars" it doesn't change the fact that everyone else is buying and selling BTC at 12K. And no one will agree to buy your 1BTC for this amount.
The price is set not by you but by the very demand that exists for this product. And there are many factors that also affect its price.
You can't just go to someone and say
- Hey hi I have a coin N and it costs 100k dollars. Buy it and you won't regret it!
And you will not be able to put forward any justification for this price other than your "I want so many dollars for my product"-and therefore for the same 100k no one will ever buy this product personally from you.

Congratulations on disconnecting from the matrix!

this is really a very funny story - when people zealously advocate for cryptocurrencies, but they do it solely because any token (one way or another) can be exchanged for ordinary and such native dollars.
And here we get that even the best BTC in the world is not completely decentralized because the point of its concrete centralization because people measure it in dollars.
And why people will need cryptocurrencies if they do not have an adequate exchange equivalent and will not be able to correctly calculate the rate to conventionally accepted currencies no one even thinks and does not want to think.

People themselves have turned cryptocurrency into total speculations

This is far from reality and there's no such dump over night, I don't read it on the price history of the whole market. There are times that we are suffering from the big inflation and as far as I remember, bitcoin created right after the financial crisis in 2018, and its purpose is to become the best option if crisis happen again. Now, most of the country enters into a recession yet bitcoin is still not that high, so the value really depends on the demand in the market and the value of bitcoin is unpredictable.

As far as I know, USDT is an stablecoin, it was originally created to have nearly same value with USD fiat currency.
I'm pretty sure that your USDTs are safe overnight, as what I have said, it is an stablecoin, it mostly stays on it's value everyday though it could still increase if something HUGE happened.
But that will not be very easy. Traders uses USDT because they use it to exchange their bitcoins/altcoins into a much like USD value crypto.
I'm telling you not to worry because your USDT is less risk from fluctuations.

How to know the value of bitcoin? Just search it on exchanges or even on google. LOL.
No one can predict exactly the value of bitcoin as it is a very volatile crypto.

There is a risk in stable coin as well. USDT meant to be pegged one for one to the USD, in real world trade market it trades plus or minus.
The develepor say that they are holding dollars in order to backed the USDT, the company suppose to buy a dollar for every coin they issued as reserve fund.
However, are they actually holding dollars in a 1:1 ratio for every USDT coin?
the plaintiffs alleged in a complaint last October that over five years Tether issued as much as $3 billion-worth of unbacked USDT tokens, which Bitfinex then used to purchase cryptocurrencies on the open market to prop prices up during market downturns. Source
 (https://www.google.com/amp/s/www.coindesk.com/tether-bitfinex-market-manipulation-class-action%3famp=1)

USD will always be valuable, not possible if American countries will go bankrupt in the near future you not need to worry about the price USD in the future if there is a war and turmoil in all the countries you have to be alert and better to buy gold if you are afraid of losing your money for investment in cryptocurrency at risk if you do not take the risk better you do not invest more in crypto.

America and other Western countries are still below their inflation target of 2-3%.over the last 5 years inflation grew very mildly in the Western countries, mostly due to the low energy prices. The strong trends in crypto prices can't be explained by these inflation rates. In the emerging markets inflation rates are much higher but I don't think this why people go into the crypto world.

Just because they pay you $12k for a piece doesn't mean you have to cash out from $12k.

You don't need to force people to buy from you for $100k neither. That wasn't my point at all.

If you don't sell from $12k, that means you don't find that price appealing. It is that simple.

I think you are facing some quit issues with the currency.
USD is a currency which is most of the money dependent this are the one who has the largest exchange among different countries this is the reason why most people choose this currency every time they transfer or spend through a different country because they know the worth of it.

The usdt is a coin dependent on the value of the USD but the aim of this to make a remaining value into one dollar.

Also, we have a different story with the BTC it has a fixed number valid if you don't make it pair into coins.

Lol that shouldn’t be a question since USDT is pegged 1 – 1 with the USD 😂 so if you’re storing USDT in your wallet you should have it mind that you’re storing the USD equivalent, and you’re getting whatever the USD gives. Then as for BTC , if USD should be going down I don’t think that BTC will go with it, BTC will rather be going up and having even more value as it has done for years now.

I will put my bet on BTC and that’s the cryptocurrency I am ready to hold at any time, even Ethereum. I’m still holding other coins and tokens, but I don’t really trust them that much, maybe except XRP, because they have been doing great job.

I agree and USD is not going to drop like a pack of cards because it is used as a international currency and it would take massive collapse to drop it's value anytime soon.

Keeping money in crypto is a good idea I agree but if you imagine USD losing it's value to inflation then there is no reason to believe that even bitcoins can drop under such times.

I believe USD is safe and hence is USDT so there is no need to create anew panic without any proper reasoning.

You will know by being able to buy the same things for the same bitcoin price instead of same usd price. For example, check how much 1 kilo of apple worths in bitcoin and how much it worths in dollar right now. If it is let's say 10 dollars (probably not that much) and let's say its 0.0001 bitcoin (or whatever btc to dollar rate is at that moment, this is just example) if the price of 1 kilo of apple stays at 0.0001 bitcoin but becomes 20 dollars one day, you will know dollar has gone up, but bitcoin stayed with the same valuation and worth.

Of course all the rates and the apple one is just example, you can calculate it based on today as well. 1 bitcoin is almost 13k, you can buy X item for 13k or 1 bitcoin, in 10 years that X item becomes 30k let's say and it stays 1 bitcoin, that is what we are trying to achieve.

I don't think the USD will cross the line and become worthless as long as the value of Bitcoin increases the demand for USD will increase and it is possible to get higher prices of currencies. Even if there is inflation in the country it will not have any effect. Crypto, including Fiat, will suffer a lot if the US team loses value. Nothing will happen to the US team so every trader is investing in currencies to get higher prices.

USDT is being used as an standard to evaluate the price of bitcoins because we need a fixed currency relative to which we can compare other currencies and assets. So, that benchmark is USD and if something strange happens over time and we see a degradation in the value of bitcoins then we might see a new benchmark but that is unlikely to happen frankly speaking.

I was wondering if there should be a universal currency maybe we call it as UNC and then we set it as a new standard but thinking alone cannot do it and we have to face that the real benchmark right now is USD and no reason to think that it is going to drop and inflation rate is not very high in countries like America.

So you just changed the concept of "cost" to "desired price" and think that everything is fine?
If you are so sure that you are right, then I suggest you buy my 1BTC for $25k because this is my desired price.
And I'm 100% sure you won't because
1) you are not interested in buying BTC for this amount when everyone else around is selling and buying it for ~$13k
2) you are not interested in buying any product at the seller's desired price when there are offers that are better for YOU

And what do we come to? That your "desired price" is only a fiction and nothing more to which you here appeal absolutely not wanting to remember the classical law of supply and demand.

But if you are completely sure that you are right-then you are welcome, my 1BTC for $25k is always at your service, sir!

Where does this came from that USD will become Worthless?yeah the value is getting lower and lower But America will never allow this to happen even if this needs to declare another war to recover from their losses lol.
i think Bitcoin is always there just to support the fiat but not to bring the fiat losing its value at all.
and besides we can use them both so why need to choose 1?

It seems that you are confusing two different concepts the value of bitcoin and the exchange rate of bitcoin. The value of bitcoin exists despite fiat currencies, whereas the price is measured in them. The former is the sum of all advantages of bitcoin that makes it more valuable than government-issued currencies. The latter is simply a measure of how bad fiat currencies against bitcoin. If all the fiat currencies become devalued, it will cause bitcoin's price to astronomical grow. If all the fiat currencies are completely gone, bitcoin will no longer have an exchange rate against fiat currencies and everything will be measured in bitcoin. However, the value of bitcoin will not change, because bitcoin will have exactly the same set of advantages.

usdt is said to tied with the usa dollar being tied means the effect of the other are going to feel on the other but there can be other coins that are not tied to usa a dollar . those coins are not officially called as stable coins but they have a stable characteristic we can try using them if we are have a fear of using a usdt  .

for the record i havent see usd drop so much but if that happens , btc are still going to be measured by usd or other local currency . the rates of btc are going to fell i guess ?  

I didn't change anything. I didn't talk about the cost at all. Quote me where I talked about costs. You are making things up.

Nobody gives a fuck about the cost. Crypto prices are all speculative.

Yes if you are willing to buy my coin for $20k while other people WANT (can't stress that enough) to buy it for $12k,  and I agree to sell if for $20k, then the price between you and me is $20k. We did give no fucks about what other people were doing.

If you open your eyes, you can see it is already happening everywhere in the world.

Why do you think the Koreans were paying a lot more than the rest of the world not so long ago?

Here is a chance to educate yourself:

Kimchi Premium
 (https://www.investopedia.com/terms/k/kimchi-premium.asp#:~:text=The%20kimchi%20premium%20is%20the,a%20staple%20in%20Korean%20cuisine.)

Local exchanges, local markets, local rules  and local prices.

USD value is not dependent to Bitcoin's market price. The market value of Bitcoin and USD are not proportional, it is just that the price of cryptos are determined using fiat but the determinant of the true value of Bitcoin is the demand while in USD is the supply alone, if i'm not mistaken. That's why it became an issue in U. S that trump is planning to print more money which could result to hyperinflation if things will be caught off hand., but that's another case. And I also doubt that the possible decline in the value of USD will be also a burden to the market prices of cryptos.

I wouldn't say it's impossible for the usd to be highly devalue but as long as economic keep moving, that can't happen. Check back from 2008, we keep hearing dollar will collapse but its getting stronger with little inflation in my opinion. USD may have inflation range of 2% as predicted by some analyst because interest rate still remains 0 and stimulus distribution is still on check.
Bitcoin isn't backed by usd, it's just a value that is determined by the market force, its independent of other centralized bodies( in the past) but currently correlated with stock market( S&P 500).

Bitcoin is bitcoin, demand and supply is the key factor that driven it's economy which has been working perfectly base on Satoshi whitepaper. All eyes are now focus on US elections, thus Bitcoin is enjoying  the news. We have seen how PayPal, one of the giant payments system across the world is adopting cryptocurrency payments on their, that's how decentralized it should be and not tide to some individuals decisions (S&P 500 and Gold in traditional market for example).

Although it will be impossible, just to answer the question it is a yes.
USDT = USD
So it will also be valued as how USD will be.
But, I doubt it will be as low as it can get.
Just think about it, even now with the pandemic and the US being quite affected by high numbers of positive COVID-19 patients.
Their currency is still highly valued and strong. It's not that easy to preserve that.

valuable or worthless money depending on those who use it, of course if there is a problem with usd then your usdt will also be in trouble.
But if the USD is affected, it is certain that other currencies will also be affected.
because almost all world currencies are paired with usd, it is the same as btc which almost all alt has btc pairs in every market.

There is no world and there is no possible way that USD would ever become worthless, it is impossible for something like that to ever happen ever. Of course, it could devalue and not be as valuable as right now, that is called inflation and sometimes inflation is much worse than other years, maybe 2020 will be a record breaking high, maybe it won't be, USA is very well at hiding it, you look at school prices and the inflation is worlds biggest, you look at TV and it is not, it is cheap, so you really don't know what to look at when we are talking about inflation in USA.

However one thing is for sure and that is the fact that USD will always be valuable when you compare it to other currencies, it will always have a power because it is backed by one of the largest economies in the world.

Governments of each country will not allow their currency to fall as much to the point the their people will choose assets to hold than to use their money. There will be decrease on the value of fiat currencies due to economic issues but it won't be a sudden downfall, it would happen slowly. And as the prices are falling down, governments has to make an action in order to stop the downfall movement of the currencies. So I guess it would still be safe to use fiat and cryptos at the same time. We should not make a drill to convert everything into assets especially in case of USD which is one of the most powerful currencies and is mostly being used in transactions across the world market.

If this is not reasoning about the price and replacing the concepts of "price" with "desired price" then I don't even know.

And you still continue to ignore supply / demand.
Even your example about Korea is subject to this rule - they have one demand, the rest of the world has another. Why doesn't the rest of the world trade at Korean prices? You understand that comparing the local market and the General one is another mistake?

In general, inflation occurs due to a decrease in purchasing power. inflation can turn into hyperinflation, if a decrease in purchasing power reaches a critical point of interest. while the price of bitcoin is used as a hedge against inflation scenarios, because bitcoin is digital, easily accessible, speculative, liquid, scarce and has a supply limit.

No, usd dollar can never be worthless. It always has its own price either high or low. Many countries are depended on this currency and as you observe, it is the most value currency in the world. Moreover, the monetary system has been developed for century. Precisely banks and the government understands how to maintain the power of cash in the 21st

After all, people cant live totally without cash. Thats why dollar can never ever sudenly disappear

If USD is devalued in imagination also then whole world will suffer economic crisis in the first instance. I mean come on, USD forms the most basic formula for each currency in the world. I mean considering USD then followed by GBP.

I dont think USA will ever let it get devalued.

BTC value is literally has indirect relation with USD. I mean it's about the market cap that BTC is holding, how much money is in there! It will stay strong for longer though.


Same here, I don't think USDT will get hampered with the devaluation. They will hold the positions by putting more liquid investments into it.

http://www.mybudget360.com/wp-content/uploads/2015/08/cost-of-living-chart.jpg
This is what inflation does in the real life. Only looking at longer periods of time do we see the insidious nature of inflation and I am certain bitcoin is here to help save our hard earned cash from it.

I doubt the USD will be worthless, because America is a big country. Surely the American government has a solution to keep the USD useful,
although fiat will definitely experience high inflation in a pandemic situation due to the government printing money. But that doesn't mean
fiat is worthless, we still need fiat for transactions. Then regarding Bitcoin the value is getting higher in a situation like now, because many
people have started to trust Bitcoin as a store of value

The simple answer is we can't know that

It is not the devaluation of the currency itself that matters here but rather economic conditions in which it occurs. For example, if the world economy implodes, it is unlikely that Bitcoin will be more worth in real terms. On the other hand, if inflation actually contributes to the economic growth (this is also possible), its value may in fact rise both in real and relative terms (i.e. how much 1 bitcoin is worth in dollars)


If the company behind USDT pulls an exit scam, this is a certainty

If the US dollar depreciates and inflation rises the USD will have a problem and so on inflation lowers everything including a country's economy. In this case the man of BTC will be reduced a lot but the currency will not be violated. As soon as the price goes up btc value will return to its previous place bitcoin can be matched with real currency. Bitcoin transactions do not require any financial institution so its transaction movements cannot be followed in any way USD there will be alternative methods even if there is a problem.

Please note how much the important things outside the inflation measuring basket (I guess CPI) have risen compared to the things that are inside the basket. Inflation in education expenses are quite spectacular here, but also healthcare, not included, are on the rise.
Of course those are engineered to keep the inflation number low, so that CB's can inject more money into the system and distort it even more.

Assuming that bitcoin becomes the dominant currency of the world then things will be priced on bitcoin and then we will forget about pricing things on dollars, if dollars still exist at that point, that is an extreme scenario that I do not think it is going to happen but if that was the case that will be the way we will deal with it, about your second question that is correct, the dollar can be devalued overnight without anyone having any say on it, the FED can just print as much money as they want and devalue what you can buy with your money, but they could even issue a decree saying the current 1 dollar bills are now only worth 10 cents effectively devaluing their currency 90% overnight.

I don't think that most BTC traders use usdt. Do you have any statistics to support that?

Most trades around the world are made with fiat money.

USDt can crash regardless of what the USD price will be. USDt is not 100% backed by usd. not even 90%. We don't even know how much they really have.

It is very more unlikely and very impossible to make happen that USDT will be devalued to become worthless overnight. We all do know that many are still patronizing the usage of USDT even the price is cutting down into minimal loss due to the economic state of the country of US but such reasoning is not just enough to make USDT to become worthless that is very impossible to happen seriously speaking.


I agree. Traders mostly use their cash or money they have from fiat which they make use for purchasing cryptocurrencies like Bitcoin as well as the other existing crypto in the market. Fiat is also being used for trading and investment.

There's more certainty in bitcoin than gold though, bitcoin is the investment for the 21 century while gold was for previous centuries, the recovery rate of bitcoin can't be compared to that of gold as it's way above its reach. Assuming both asset were to fall, in the short term due to the devaluation of the US dollars, as a result of uncertainty in the market caused by fud and panic like we experience during the heat of covid-19 in March. The recovery rate if bitcoin would be faster just as we're currently experiencing abive the gold.

Why then will you choice gold over bitcoin? Sounds so unreasonable especially as you must have been enlightening on the advantage of bitcoin over gold. The digitalize of bitcoin, it's finite supply and decentralized nature, just to mention a few is enough reason to consider it a more favorable investment option.

I rarely use USDT on my trades and always looking up to BTC or ETH pair to other alts with no USDT involvrment whenever I want to start my trade. So no wonder where op get that statistics and maybe he is just curious about those things and want to know the pulse of the people here.

I am more and more convinced that the inflation death spiral was a truly engineered plan to avoid people to reach some basic financial independence. Given the rising cost of goods and stagnant incomes, let alone massive unemployment people need always more debt to finance their living. And what about those who can’t even access some debt money? This is bad man.

Of course the inflation is engineered to make people poorer. If money loses value over time you are induced in spending it to buy goods, i.e. getting poor.
Bitcoin is going to fix it.
 

Please know the difference between USD and USDT, and moreover USD will not not disappear overnight as its the official currency of one of world's largest economy, USDT is occasionally used to covert our asset to protect it from volatility and I have not come across any individual till date who have invested in USDT like we do with other crypto. I would request you to avoid taking unnecessary panics.

There are many reasons why people may prefer gold over Bitcoin

Bitcoin largely remains a speculative asset while gold is a genuine store of value, although some consider Bitcoin a store of value too. Physical gold is better as a store of value partly because it doesn't rely on anything other than physical laws which are unlikely to change in the foreseeable future and turn your precious gold into useless lead. Bitcoin, along with its cryptocurrency brethren, on the other hand, is much more vulnerable in this regard, and anyone who is seriously going to challenge that point should first check their sanity and intelligence scores

Bitcoin is a decentralized currency is not control by any country or government. US dollar is a centralized currency which government are the one in charge of the currency in the country. They will never allow their currency to devalue because they know it very well that if USD devalue many countries economy will be at risk. But bitcoin can never devalue if USD choose to devalue which the government will not allow it to happen in this season will are which the US election is just few weeks from now. I think USD will never devalue because of what the government stand for to make sure the currency Maintain value on the time.

Because it's a traditional investment where it gets more positive feedback since people will always think that it's valuable thing compare to bitcoin and we cannot really blame them to tell about that since Bitcoin got high volatility which we cannot trust to keep for long term since  the price will easily get dump and pump.But everything can be changed since it's just a people mindset over investment and if bitcoin will show a good stability and good price movement for long-term provably investor will get a pure interest with it.

That's the difference you mention between bitcoin and Us currency. Us currency can never be devalued or become worthless it is used through these years globally. We already observed bitcoin and it's growth is increasing. Bitcoin and us currency has different use and function which is very important to the users, and us currency will not be worthless overnight. People should avoid this mindset of panic that us currency will be devalued as long people use this it will not happen.

If currencies (especially the US dollar) are highly devalued, it wouldn't have anything to do with Bitcoin and that means Bitcoin will be worth more in dollars, and those who bought at the early stage before that happens will benefit more from it.

As for those who think that USDT is an investment and they are holding this token, anything that happens to the US dollar will eventually affect this token (USDT) since it's a stablecoin that's pegged with the same US dollar, so what more do you expect? And I'm saying it again, your USDT token is just for saving value in dollars, so you're holding dollars and nothing more, it's not like Bitcoin that's not pegged to anything.

The problem with the inflation right now for higher level stuff is the biggest problem, college, house, car these are the big name things that people can't earn anymore with small amount of money, you would have to be really well off to do this or you should be in debt for a decade at least to be able to buy a house, that is not how the world supposed to be.

First of all in USA there is tons of land and that means people should be able to buy houses very cheaply, but even lands are a lot of money now, secondly just because eggs and coffee looks not that bad doesn't mean that kids are spending 2-3 decades of their lives only paying their college education which doesn't even bring as much wealth to you as uneducated milkman made 50 years ago, that is the real problem.

I wouldn't say that US dollar could "never" be worthless, I mean it would be highly unlikely and it would be world shattering and something so grand has to happen that it would be unexpected beyond anything else, however at this point I am not shocked with anything in the world so anything could happen.

We literally have a virus that could kill us all in the end if we are not careful, the humanity is locked down or at least should be locked down, even talking to each other face to face could lead to death, if that doesn't sound like something extreme I don't know what could be, when we live in a world where talking could lead to death, I am sure US dollar could worth nothing as well in a different scenario this extreme. However it wouldn't be easy, they are way too powerful to let it be done that quickly, they will fight hard tooth and nail on world stage to stop that from happening if anything extreme happens.

In fact, that remains to be seen

If the dollar depreciates and Bitcoin appreciates proportionately, there will be no real gain. Yes, Bitcoin will be worth more in dollars, but will it be worth more in real terms? To actually benefit from holding your funds in Bitcoin, it should rise faster than the rate at which the dollar loses value. Only in that case you can say that it is worth the effort compared to other investment assets which are going to outperform inflation (stocks, whatever)

usdt is verry useful but why say that no one invested on it ? you already explain the purpose of usdt .

he explain his words properly and he knew that usd and usdt are not the same . they look simillar because of the name but the 'T' at the end of the usd't is too big to not to be noticed .

its possible for local currencies to be devalued but they are strong enought to hold thier value and not drop to zero . we can still measure btc but it would be complicated for us if local currencies value turned to zero  .

If USD goes worthless then USDT also will be worthless at the same time because the value of USDT is pegged to USD dollars but in my opinion, USDT will go worthless due to hyperinflation caused by excessive printing before the USD reaches such a position.

Well, US Dollar has been constantly losing value since his creation. US Dollar actually designed to yearly lose 2% of it's value, and now FED is struggling because they have been failing at this during the last years.

So don't look for overnight dump (yet) but the continuous bleeding in your purchasing power.

Also, it might be a typo, but Bitcoin was created after 2008 financial crisis, of course.

It is losing its value gradually. Unlike with bitcoin, the pric eis so volatile that even in a single day you will lose a lot. Usdt is good because it is stablecoins. When we talk about stable, it is less volatile compared with other assets. Therefore, even you left your money in exchanges more than a day or night, you my expect to remain its value or it just move in a slow motion.

USDT as a project generally encroaches on the sacred cow of cryptocurrencies, which consists in the lack of security and the absence of any guarantees. It is this opportunity that allows us to hope for a multiple subsequent growth and contributes to this to some extent. This leads to a multiple fall at times, it's true. But still there is a future in any case. And USDT is just a business venture that can go broke.

Really know that from my views that you USD can't be worthless but certain measures have to be provide in order to convinced readers categorically or stanza by stanza, the only thing I noticed is that can make USD to be worthless is economy of their country, provided that the currency is in existence and coupled with economy, nothing can devalues USD.

See, it's obvious that Bitcoin the values is Paramount, shall from other views everyone can Concord or directly believe in bitcoin via it's regulations of market, because i think the values of btc correlated with cryptocurrency values especially bitcoin.

USD will never be worthless. It may devalue well, it is obvious about inflation but I don't think it would just fall under something that we could describe or call it worthless. Just imagine bitcoin having a great value beacuse of that but we can't actually use bitcoin in our daily basis since we will still be converting or selling that into fiat.

Why everyone is so confused by the difference between USD (United States Dollar, the US currency) and USDT (the digital artifact representing US dollars, printed by bitfinex)? If you are worried about USDT collapsing that's ok, that's reasonable. On the other hand, if you are worried about the disappearance of USD you will be disappointed as that is not going to happen soon.

I do agree with you USD is not going to disappear anytime soon.
Actually for a currency to disappear the government must default, and this is not going to happen by design in the US, where the FED can actually print as many dollar are needed for the government to repay the debt (in Europe we have a different system).

What it can happen instead is the constant bleeding of value due to inflation, even if it is not going to tear the currency trough painful events. This is actually beneficial to the highly indebted government, not to suffocate under his own debt.
So this IS going to happen.

USDT is little relevant, being pegged to the USD, it ill lose his value too.

Bitcoin fixes that.

And you are completely right on your observations, a currency that can be inflated at will is something that benefits governments because they can tax you without having to pass any laws and what is even worse is that this is a tax against your wealth and not your income, which in my opinion makes it the worst tax governments can levy against their citizens, the rich benefit from this as well as most of their wealth is not on fiat money but on the form of properties and stocks which go in value with inflation, bankers benefit as well because people have to live on credit just to get by, but you know who does not benefit from this? The average citizen, we end up paying for all of that and when the music stops and a huge financial crisis happens we are the most affected as well.

Inflation and deflation is what can happen to any currency in the world. During the pandemic many currencies lose value which most of the currency are just gaining their value back base what covid-19 has caused in the world economy. Many government printed more money to restore back their economy to normal so that citizens can return back to to their normal business.
Even though US dollar turn to worthless which it can never happen to US currency because they value their currency than any other business. Bitcoin is different from US dollar which it can't cause bitcoin to devalue . Bitcoin is decentralized currency which it show example of decentralized currency during pandemic.

Well, some clarifications seem invited

First of all, inflation is generally useful for people living on credit. I'm personally aware of a few cases when a sudden, unexpected surge in inflation rates helped people to pay back their debts with cheaper money. Indeed, it is not always the case, but in general inflation is good for borrowers and bad for lenders, especially the type which can't be easily envisaged in advance and still more so for long-term loans

Then, rich people profit from inflation not so much because their wealth is in solid, inflation-resistant assets (as this can be equally true for simple people too) but mostly because they are the first to receive the money before it starts to lose value. Simple people, on the other hand, are the last to get their hands on the newly printed shekels and thus unwillingly become the target of inflation and have to bear all the nasty consequences of it

It is usually beneficial during the time if volatility that will drop the coin. So stocking your coin in conversion to such stable coin will help in retaining its value. UST is playing big and important function for hodlers. I think it is one of the big utility coin so far to hodlers. But sometimes people feel bad when they miss the move up because of UST.

Well, I don't really think so because the fall of USD would mean the fall of the whole share market and there will be chaos in the market which might actually affect the price of bitcoin negatively as we had seen during the initial stages of corona virus as the market dropped down even the BTC price was down even around $5k at time if I am not wrong.

I don't think there is any reason or news to back such claims but an interesting question and a good debate although I feel that there is no way that the bitcoins won't be moved by the drop in USD because all these markets are connected to each other and if USD drops to 50% value suddenly then BTC won't double it's value in USD suddenly either.

Living on credit, unless you have a solid financial situation, is the worst thing one could do. If we don't have the means to live up to our expectations then we shouldn't. Easy access to credit gave the illusion that everyone could afford anything, being a smartphone, a car or a house or whatever you like.
This is really about financial literacy something that most of the people truly don't have.

I agree with your point. The negative impact will be tremendous if USD value fall. And bitcoin will also become a victim of the chaos. The Covid-19 has been a tragic to all of us and the world economic system. And according to my knowledge, the price of bitcoin was lower than $4000 between March and April.

Even though bitcoin is based on the decentralization, it still connects to the world economy. Why? Because bitcoin users are us who definitely bound to our daily life and our economy. Thats what make the price of bitcoin affected if one day usd dollar drops. But no matter how madness our world could be, there will be no chance for USD to decrease to 0. Many countries rely on this currency and the USA understand their responsibilities of maintaining their Dollar and the global financial system

Whatever happens to the US Dollar will have an effect on all markets in the world, including Bitcoin will be affected. Because the US Dollar is
the global currency used for international transactions, many currencies are based on the US Dollar price. So I really believe the US Dollar will
not be worthless, if the US Dollar value falls, it will definitely rise soon, otherwise there would be chaos in the world economy. Because I believe
that the US Dollar has a very big influence on the world economy.

You are talking about a different matter (aka "non sequitur")

Whether it is the worst thing or otherwise, inflation may help debtors as it devalues money and debts denominated in that money. In a more general sense, we can turn inflation in our favor because sometimes two evils or two minuses (debt plus inflation, in this case) can produce a good or a plus. Though I agree that it is not like everyone and his grandma can ride inflation to their advantage, through debt or other means

Do you even understand what the OP was all about? It is not demanding a comparison between USD and BTC instead it was about whether a change in the USD value will impact the value of Bitcoins and if USD becomes a victim of let's say high inflation rate then how would it impact the prices of bitcoins.

Thank God someone also thinks like me and yes USDT market is controlled by a single firm but the USD is the regulated currency of US which means it cannot fall like digital crypto currency USDT.

There are many confused between USD and USDT then there are some who don't even understand that USD cannot be related with inflation because it is still the standard currency for almost all online transactions and doesn't face inflation too much in it's value.

Since USDT is stable, it does not have much effect on its quality inflation on the dollar has had no effect on Bitcoin. This database contains all transactions that take place on the Bitcoin network and can be consulted freely by anyone so that you can participate in the creation of digital currency without providing your personal information but all your activities are public and easily searchable. There will be no need for currency violations.

Yeah, pretty much. But I'd rather be scared of USDT going down than the USD itself.
I'm more interested in why btc is skyrocketing while all stocks, alts and etc are going down.
That is the question of value

Your clarification was certainly received well. You are right, I was not commenting directly your post but I was referring to some other things which I believe are of extreme importance largely for those who begin to study and research about bitcoin.
It looks me they are important for you too.

If USD will be devalued then obviously the price of Bitcoin will rise but that price is pegged to USD.

The question is that, will all of the establishments accept it?? In order for you to buy things right now and you have Bitcoin, its either you will tell to them that you will buy Bitcoin or you will convert the BTC into USD and you will use it. It will still be the same since the price will go up at that time.

That's not set in stone at all

As there are lots of offsetting factors at play here. I guess we can safely assume that the dollar has been more or less on the decline all these years, I mean, during the era of cryptocurrencies, i.e. the last 10 years. And so what? Bitcoin rose to 20k, then collapsed to 3k, then collapsed again to 4k from 9k half a year ago. The obvious conclusion is that these other factors have much more influence on Bitcoin price that the dollar depreciation. It is also a factor indeed, but I wouldn't rely on it too much as it can be easily overridden and ultimately completely negated by more powerful factors

not how I view things in this market. Bitcoin and other cryptos are not tied with the value of fiat currencies unless it is a fiat based crypto just like USDT. Regarding the acceptance of cryptos, there's what happened recently with PayPal wherein it will be accepting cryptos as mode of payment but as from what I have heard, in every crypto transaction of goods or services perhaps, there is a convertion to fiat not really a direct crypto to crypto transaction. So maybe, there will still be years for its total acceptance.

USDT is not actually "stable" in the sense that you could have 100 usdt that will always worth 100 dollars but that same 100 dollars will not be able to buy the same things it can buy today that it could have bought 5 years ago, there is inflation and that means your 100 usdt loses its "value" even if it doesn't drop in price.

This is why btc value is very important to keep going up constantly, the aim of bitcoin should always be to beat the "felt" inflation, not the inflation given to you by economists who are trying to keep you at bay with good numbers and fake happiness but the amount of money you spend per year changes and bitcoin increase should be higher than that increase you have yearly. USDT can't give you that, USD can't give you that, but BTC could potentially help you with it.

It is only natural that the value of Bitcoin is affected by USD performance, because most people who trade Bitcoin pairing with USDT
are backed by USD. So USD indirectly affects the price of Bitcoin, in fact all markets must be affected by the value of USD. But I don't
believe the USD will be worthless, because the American government will definitely take steps so that the USD will remain valuable.
Therefore, many countries use USD as a global currency, this proves that confidence in USD is so high.

Inflation is generally a useful thing within reasonable limits and stimulates the economy if the government makes inflation in a small amount. A spasmodic one-time inflation, on the one hand, helps debtors, but painfully hits the savings of citizens and undermines citizens' faith in the economic policy of the state. It also poses a problem with long-term investments. Large inflation is the most important indicator of the wrong economic policy of the state in the vast majority of cases and makes it possible to level the blunders of state policy at the expense of ordinary citizens.

If USD will lose value then all local currencies of different countries will lose value too, I don't think that will happen. Our world is dependent on fiat. Imagine if it has no value, how are you going to buy things? How can you say this is cheap or not. You can't just say something cost 1btc without depending on a fiat currency.

Well, that's not how "stableness" of USDT is defined

It should be stable with respect to its underlying asset, that is to say, the American dollar. It is a stablecoin whose value is pegged to the dollar, and as long as this peg is maintained, it is rightfully considered stable regardless of how much the dollar itself depreciates. Therefore, you can't say that USDT will be losing "value" along with the dollar. Fundamentally, you are implicitly trying to redefine the idea of a stablecoin but that only destroys it

Thats a wise thought.
It also works with most of cryptocurrencies and stocks out there.
And for most of newbie investors its a big piece of knowledge to have - its always up to you when to sell.

Even after printing a shit ton of USD it still didn't fell down a lot, despite fact that only US citizens received stimulus check - that means all of the world got somewhat scammed because their USD holding were devalueted to some extent.

Honestly, I don't see a lot of sense in this

Are you unhappy that only American citizens received stimulus checks while the rest of the world, that is the part of it that holds dollars, didn't receive anything? It seems to me that you are looking at it from the wrong angle. Americans received free money because they are Americans and not because they have dollars. But did you really expect that the Fed should have given a free premium on every dollar in existence? Anyway, no one has forced you to buy dollars in the first play. For fuck's sake, you could have bought the Venezuelan bolivar or Russian ruble instead!

That is what I am talking about. It s definitely a stable coin in the sense that unless tether as a company bankrupts or runs away with our money (which is a possibility that very few people considered unfortunately) 1 usdt will always worth 1 usd and that is the stable part people talk about.

However I do not like the word stable in this sense since it makes people think that the more usdt you have the richer you will get and that is not the word for rich neither, if you are not beating inflation even if you have more dollars that means you didn't get richer. If I buy a house worth 100k dollars today and in 5 years that house worths 150k while some other guy kept his usdt and his 100k became 120k, he "lost" money while he was still stable and that is what I am talking about.

You are only further confusing matters

Stable in stablecoin has a very specific and established meaning. It means a peg and being stable means being able to keep or maintain this peg. You, on the other hand, are at first implicitly and then openly attributing a totally different meaning like being able to beat, or stay on par with, inflation. For this, there already exists a term which pretty much speaks for itself and which is inflation-protected, say, inflation-protected bonds and, hypothetically, inflation-protected coins

Sounds funny but reasonable, I have almost assumed such before, I felt, since Bitcoin will always be measured in us dollar how about when the dollar value depreciates I'm my country, doesn't it automatically mean the value of bitcoin has dropped too.  I don't want to accept with those who says the value of US dollars cannot drop. It definitely can. Because it's value is determined by your country's currency rate to it.

This is a big dilemma by many nowadays, especially now that USD is beginning to show signs of decline. I'm thinking bitcoin will still retain its value even if the fiat it is connected to depreciates in value. If anything it will make bitcoin have a bigger impact. Think of it as the Venezuelan bolivar. It became so inflated that the people out there started using USD instead because you'd need a sack full of bolivars just to buy a hotdog. This could induce a force adoption of bitcoin which is good