Will the US Dollar dominate bitcoin trading

[Bitcoinbee]

The US dollar has been dictating most of the trades world wide from crude oil to anything.  Is there a possibility that it will dominate in the trading of Bitcoin?

[sempak]

yes it could have happened. Now the power of a very large bitcoin. and it is not possible a few years in the world trade is going through bitcoin as a medium of payment.

[daniobg]

The US dollar has been dictating most of the trades world wide from crude oil to anything.  Is there a possibility that it will dominate in the trading of Bitcoin?

Well it's natural so your expectations are right, But imagine if some big economic "crash" happens and the dollar collapse? Maybe some other currency will dominate the trading then? Anyway I want to remind you that, the bitcoin itself is created to replace the fiat currencies, so in the future there may not even be a dollar or euro etc... and every trade will be made in Bitcoin

[Bitcoinbee]

The US dollar has been dictating most of the trades world wide from crude oil to anything.  Is there a possibility that it will dominate in the trading of Bitcoin?

Well it's natural so your expectations are right, But imagine if some big economic "crash" happens and the dollar collapse? Maybe some other currency will dominate the trading then? Anyway I want to remind you that, the bitcoin itself is created to replace the fiat currencies, so in the future there may not even be a dollar or euro etc... and every trade will be made in Bitcoin

Still it will be a long way if eventually it will happen since we are still in the process of acquiring more to support the trading amount needed for a huge market and to be in control globally.

[apOsww]

actually is china yuan that cover most of btc txs in the world (see bitcoinwisdom to take an idea)

[Bitcoinbee]

actually is china yuan that cover most of btc txs in the world (see bitcoinwisdom to take an idea)

Has the monetary value of yuan increased from last year since I have no idea in the fluctuation of currencies.  Or has it been demonetized?

[BTCBinary]

The US dollar already dominates the Bitcoin trading scene. It is the market with more volume to trade. Aside from the US, the chinese Yuan also has a lot of volume to trade, but the US dollar dominates even in Chinese exchanges

[bbc.reporter]

I think almost anyone who is not from China would rather recieve USD than Yuan if they had a choice.

[RocketSingh]

The US dollar has been dictating most of the trades world wide from crude oil to anything.  Is there a possibility that it will dominate in the trading of Bitcoin?

Right now, CNY is dominating bitcoin trading.

[mindrust]

It might happen.

Bitcoin has opened so many doors which weren't available before.  The fact that bitcoin isn't regulated, can be a serious threat.

If such a measure will be taken in the future like knowing everyone's real name and how much they hold,, that may make the whole bitcoin thing pointless.

[MingLee]

The USD kind of does already dominate the value of bitcoin trading, it is the most commonly referred to value of Bitcoin and most trading in Bitcoin happens through the USD and the Chinese Yuan if I remember correctly, and so those two currencies are fighting against each other most of the time.

[ObscureBean]

What else would you want to trade Bitcoin for though? The dollar is the most widely accepted currency in the world, I think it makes sense to use dollar. I doubt anyone (other than locals) would want to hold Yen or Yuan in their account.

[Hirose UK]

The USD kind of does already dominate the value of bitcoin trading, it is the most commonly referred to value of Bitcoin and most trading in Bitcoin happens through the USD and the Chinese Yuan if I remember correctly, and so those two currencies are fighting against each other most of the time.

It's not surprise anymore because we know users of bitcoin are mostly americans. so US dominates trading. imo

[hasiramasenju]

even though some people has use Euro and Yuan for their bitcoin trading activity but i guess yes dollar will dominate in bitcoin trading may be because dollar as the most use currency in the world that's why people will chosen dollar than other currency

[~Bitcoin~]

The US dollar has been dictating most of the trades world wide from crude oil to anything.  Is there a possibility that it will dominate in the trading of Bitcoin?

Dominate trading bitcoin? that will be quite confusing but bitcoin should have some value monetory value in terms of fiat but i think USD is not the only currency that is being used in bitcoin trading as you can see much of the trading volume are coming from china so yuan is used more than USD in bitcoin trading.

[yayayo]

I don't think that the Bitcoin market is under the influence of the US Dollar, since the US can't pressure other exchanges to trade Bitcoin only in dollars. Although Bitcoin has properties of a commodity its exchange for fiat is a free currency exchange market. So Bitcoin is bought and sold via the currencies of people's choice. By volume, the Chinese Yuan is the dominant trading currency.

It's interesting to think the other way around: Could Bitcoin dominate US-Dollar trading? Definitely! Since Bitcoin is more attractive than any fiat currency due to its non-inflationary character it is at least reasonable to assume that - if succeeding in mainstream - it could become so sought after that the USD/BTC-exchange pair could ultimately be more relevant than USD/EUR.

ya.ya.yo!

[sobsitesearch]

USD price was not pumping its hard to earn an income while in Bitcoin now the price are continuous rising and after the halving i think it will be profitable for bitcoiners.

[MWesterweele]

I dont think USD can dominate bitcoin trading online.Tho bitcoin can be obtained using your usd currency bitcoin has it own network and development and usd has its own too and besides it is different people who controls that two currency.Bitcoins controls most of all crypto coins online now and bitcoin trading is just for bitcoin and cannot be dominated by usd

[Bitcoinbee]

I dont think USD can dominate bitcoin trading online.Tho bitcoin can be obtained using your usd currency bitcoin has it own network and development and usd has its own too and besides it is different people who controls that two currency.Bitcoins controls most of all crypto coins online now and bitcoin trading is just for bitcoin and cannot be dominated by usd

I get what you mean. For the crypto currency's bitcoin is really the dominant one. But what I was trying to know if will the US Dollar dominate the trading of bitcoins over the Yuan, the Euro and other currencies?  So what do you use for trading bulk bitcoins?  Bitcoins?

[Bitcoinbee]

The USD kind of does already dominate the value of bitcoin trading, it is the most commonly referred to value of Bitcoin and most trading in Bitcoin happens through the USD and the Chinese Yuan if I remember correctly, and so those two currencies are fighting against each other most of the time.

What else would you want to trade Bitcoin for though? The dollar is the most widely accepted currency in the world, I think it makes sense to use dollar. I doubt anyone (other than locals) would want to hold Yen or Yuan in their account.

What I can see right now is that the two possible strong candidate to dominate the bitcoin trading is between the US dollar and the PROC Yuan.  At the beginning of this year the US tried to demonetized Yuan in which I forgot to pay attention which leaves me to be hanging around with the status.