What if US Dollar Crashes?

[CryptoDatabase]

Right. According to coinmarketcap.com the top 5 BTC markets are BTC/USD with ~$14 million in trade, followed by BTC/CNY coming in at ~$3 million and ~$2.5 million in BTC/EUR which means that USD equates for ~72% of the top 5 BTC markets.

Are you sure about that?

I guess you chose a wrong ranking there. For example, if I take the 24 Hour Volume Rankings by Exchange (look here), just OKCoin has a daily trading volume of over 1 billion dollars (namely, $1,224,670,000 at the moment). But it trades only BTC/CNY and LTC/CNY pairs, and no USD altogether. The BTC/CNY trading volume there equals over $1,1B, which is greater than all other non-Chinese exchanges combined are trading as far as I can see

Like I said according to coinmarketcap, it doesn't take much to check what I was talking about. As of now it has changed and JPY has moved into the top 5.

https://coinmarketcap.com/currencies/volume/24-hour/

These statistics are obviously misleading since they include only the exchanges that trade the US dollar and/or charge fees. There are no top Chinese exchanges in the list that are trading only the Chinese yuan. Any single one of the latter is trading more bitcoins than all USD exchanges (like BitStamp, Btc-e, etc) combined. I don't really know why people are having trouble walking coinmarketcap.com themselves. Perhaps, this is done intentionally in order to deceive people into thinking that the US dollar is the only pebble on the beach (/paranoid mode off)...

Which it ain't and even far from being that

You need to go do your research before trying to post bullshit off as fact.

The highest trade volume for OKCoin in recent days was on Nov 2, 2016 at ~$4 million trade volume.

http://prntscr.com/d4dati

Saying any exchange or even all exchanges combined make $1.2 Billion dollars of trade volume per day is ridiculous

Here is an even closer look at your $1.2 Billion trade volume, http://prntscr.com/d4dcbm

Reference - https://data.bitcoinity.org/markets/volume/30d?c=c&exchange=okcoin&t=a

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[PancherBitCoin]

I was thinking about this, what if the US Dollar crashes like speculated by many renowned economists around the world?
What will be it's affects on the beloved currency, BTC?

The collapse of the dollar will be reflected not only in any currency, but also in any country. Speaking seriously, then the dollar at all kept the whole world economy. So I think that the dollar will in any case will not allow to fall and lose its position.

[arseaboy]

I was thinking about this, what if the US Dollar crashes like speculated by many renowned economists around the world?
What will be it's affects on the beloved currency, BTC?

The collapse of the dollar will be reflected not only in any currency, but also in any country. Speaking seriously, then the dollar at all kept the whole world economy. So I think that the dollar will in any case will not allow to fall and lose its position.

I agree with you mate if dollar will crash then definitely in my opinion we will be all affected because all third party countries are dependent based on the value of dollar. Including my country if dollar value go low then its not good for us.

[20kevin20]

USD's crash would bring down every single market and currency. Most of the currencies are relying on the dollar. Before its crash, expect a big, BIG crisis compared to the 2008 one.

[serjent05]

USD's crash would bring down every single market and currency. Most of the currencies are relying on the dollar. Before its crash, expect a big, BIG crisis compared to the 2008 one.

I don't think all currencies are relying on US dollar.  US Dollar may have been one of the international currency but each currency have their own value so basically the only one affected are those market that relies solely on US dollar market.  A decline of Dollar value simply means a stronger local currency for us.  And besides trades are not only done thru US base markets.  This is the reason why Pres. of the Phil does not care if US shut their trades with the Phil. Because it will open a new horizon of trading for other countries like Russia and China.

[tee-rex]

USD's crash would bring down every single market and currency. Most of the currencies are relying on the dollar. Before its crash, expect a big, BIG crisis compared to the 2008 one.

This is an unfounded claim. Major currencies like Euro, Pound sterling, Swiss franc, Japanese yen will necessarily increase should the US dollar collapse for the simple reason that the dollar strength is measured in these currencies. It simply can't go down without the surge of the currencies which the US dollar index used to assess the strength of the dollar consists of.

[goldcoinminer]

USD's crash would bring down every single market and currency. Most of the currencies are relying on the dollar. Before its crash, expect a big, BIG crisis compared to the 2008 one.

I don't think all currencies are relying on US dollar.  US Dollar may have been one of the international currency but each currency have their own value so basically the only one affected are those market that relies solely on US dollar market.  A decline of Dollar value simply means a stronger local currency for us.  And besides trades are not only done thru US base markets.  This is the reason why Pres. of the Phil does not care if US shut their trades with the Phil. Because it will open a new horizon of trading for other countries like Russia and China.

Not specifically all but most of them. Dollar is a popular currency and we know more people who are owning dollars are also holding bitcoins, so it would really affect the economy of bitcoin. We should prepare for it if It will happen.

[crockoo]

USD's crash would bring down every single market and currency. Most of the currencies are relying on the dollar. Before its crash, expect a big, BIG crisis compared to the 2008 one.

Here you are right, the economy of each country depends on the dollar. And if it collapses, you suffer not only America but also many other countries. I hope that this will not happen and the government will not allow a collapse.

[hase0278]

US Dollar is like the base currency where many currency base their price on. If it crash, people then will begin to look for a currency that will be the new currency which others will base on and it's probably one of the fiat currencies out there. IMO it wont have that big of an effect to bitcoin it will just continue its operation like nothing happened and the price will not be affected that much but it's price will base on another fiat currency.

[freedomgo]

US Dollar is like the base currency where many currency base their price on. If it crash, people then will begin to look for a currency that will be the new currency which others will base on and it's probably one of the fiat currencies out there. IMO it wont have that big of an effect to bitcoin it will just continue its operation like nothing happened and the price will not be affected that much but it's price will base on another fiat currency.

Dollar is popular because of the reason that it's strong currency which represent it's nation USA. I believe when it crashes there will be an economic crises for the county and for the countries where US is a major investors. If dollar crashes that means other currency will replace on top.

[BingoDog]

If dollar crashes that wouldn't influence only USA but probably many other countries in the world. The damage could be very big and financial system put out of track.
But I don't think something like this could happen in the near future, there are to many interests groups that wouldn't allow something.like this to happen.

[Wind_FURY]

I was thinking about this, what if the US Dollar crashes like speculated by many renowned economists around the world?
What will be it's affects on the beloved currency, BTC?

Then all the economies around the world will be affected in a negative way. The US Dollar is the world's no. 1 reserve currency. Almost all of the countries hold their reserves in USD. Importers, exporters, international traders, crude oil prices are all transacted in USD so it would be possible that the global economy could go thru a depression.

I would believe that BTC will be affected negatively also because all the mining farms, Bitcoin merchants and other Bitcoin based businesses all need fiat, their operations do not depend solely on BTC.

[CryptoDatabase]

I was thinking about this, what if the US Dollar crashes like speculated by many renowned economists around the world?
What will be it's affects on the beloved currency, BTC?

Then all the economies around the world will be affected in a negative way. The US Dollar is the world's no. 1 reserve currency. Almost all of the countries hold their reserves in USD. Importers, exporters, international traders, crude oil prices are all transacted in USD so it would be possible that the global economy could go thru a depression.

I would believe that BTC will be affected negatively also because all the mining farms, Bitcoin merchants and other Bitcoin based businesses all need fiat, their operations do not depend solely on BTC.

I don't think it would have that adverse of an effect on the worlds economy. Countries could just switch to a new currency like they are doing in Asia right now.

The US won't allow this though, Iraq is what happens when you decide to stop using the US dollar for things like oil. That was most likely the real reason we invaded their country. Hussein decided to use the Euro instead of the USD and now he is dead and his country is in ruins but they are back on the USD again.

[hajimasan]

I was thinking about this, what if the US Dollar crashes like speculated by many renowned economists around the world?
What will be it's affects on the beloved currency, BTC?

if it happens then the bitcoin will adopt other currencies as an True unit of btc . Because usually we are seeing that the price of bitcoin in USD at blockchain , which is official , from long ago . so it may adopt some other currencies instead to distrub anything .

[tabas]

I was thinking about this, what if the US Dollar crashes like speculated by many renowned economists around the world?
What will be it's affects on the beloved currency, BTC?

if it happens then the bitcoin will adopt other currencies as an True unit of btc . Because usually we are seeing that the price of bitcoin in USD at blockchain , which is official , from long ago . so it may adopt some other currencies instead to distrub anything .

No it won't adopt other currencies, because together as the USD crashes, bitcoin will also crash. But that is possible, if bitcoin will just adopt other currencies before that crash and needs to have tighter value already as equivalent with its value in USD. But if that happens after the crash, then that will make it crash too.

[tee-rex]

I was thinking about this, what if the US Dollar crashes like speculated by many renowned economists around the world?
What will be it's affects on the beloved currency, BTC?

if it happens then the bitcoin will adopt other currencies as an True unit of btc . Because usually we are seeing that the price of bitcoin in USD at blockchain , which is official , from long ago . so it may adopt some other currencies instead to distrub anything .

No it won't adopt other currencies, because together as the USD crashes, bitcoin will also crash. But that is possible, if bitcoin will just adopt other currencies before that crash and needs to have tighter value already as equivalent with its value in USD. But if that happens after the crash, then that will make it crash too.

Why do you think Bitcoin should crash too if the USD crashes? It seems to be a consensus here that China and their currency, the Yuan, plays a greater role in determining the Bitcoin price than the dollar. And as long as the Chinese government has been devaluing the Yuan, Bitcoin has been growing. It looks like there is a negative correlation between the rates of the main currencies and Bitcoin.

[Kotone]

US Dollar will never crashes as you see US dollar is the most powerful money in the world and if this gonna crasher what currency will be charge to change the place of the most poweful money? you think that chineses coin will replace the dollar itself? i don't think soo and if this gonna happen will be on the next next mega generatioin.

[X-ray]

US Dollar will never crashes as you see US dollar is the most powerful money in the world and if this gonna crasher what currency will be charge to change the place of the most poweful money? you think that chineses coin will replace the dollar itself? i don't think soo and if this gonna happen will be on the next next mega generatioin.

dollar had ever crashes and all currencies does,you're a cavemen or what? and if you don't believe me see its latest statistic and you will know that dollar had been crashed for few hour and got its value back again,and there's no chinese coin,only yuan as a currency which made from paper

[clickerz]

dollar had ever crashes and all currencies does,you're a cavemen or what? and if you don't believe me see its latest statistic and you will know that dollar had been crashed for few hour and got its value back again,and there's no chinese coin,only yuan as a currency which made from paper

Indeed and I think happens from time to time. Look at now, dollar is low and currencies that is highly connected or peg with dollar are also devalued. Maybe after election, when all is stable and bussinessmen are ok, it can recover.

[tikboyhere]

I was thinking about this, what if the US Dollar crashes like speculated by many renowned economists around the world?
What will be it's affects on the beloved currency, BTC?

If us dollar crahes there will be a lot of opportunity in on its neighbour country.  Like the value of our local products might have a higher value and at the same time there will be much cheaper value in foreign products