We must build a new exchange rate system

[bibi-bo]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

Insane Idea, you cannot calculate the total quantity of bitcoin vs the total quantity of money for bitcoin price.  You need to see it's value first, then the adoption of people.  Btw you failed to includee euro, yen, rupi, peso and other nations money to compute your Bitcoin price.

It is simple logic. If you know the quantity of euro, yen, rupi, peso you can include them and calculate the altcoin price.

[Kprawn]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

Insane Idea, you cannot calculate the total quantity of bitcoin vs the total quantity of money for bitcoin price.  You need to see it's value first, then the adoption of people.  Btw you failed to includee euro, yen, rupi, peso and other nations money to compute your Bitcoin price.

It is simple logic. If you know the quantity of euro, yen, rupi, peso you can include them and calculate the altcoin price.

These fiat currencies supply are very heavily manipulated all the time, and we should not rely on governments to determine the value of bitcoins. We work on open markets where supply and demand,

dictate the value and on nothing else. The other fiat currencies are failing, because they manipulate the supply. We know there will only be 21 000 000 bitcoins and that should be the determining

factor for it's price. Bitcoin can stand on it's own, it does not have to rely on fiat currencies to determine it's value. 

[gabmen]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

Insane Idea, you cannot calculate the total quantity of bitcoin vs the total quantity of money for bitcoin price.  You need to see it's value first, then the adoption of people.  Btw you failed to includee euro, yen, rupi, peso and other nations money to compute your Bitcoin price.

It is simple logic. If you know the quantity of euro, yen, rupi, peso you can include them and calculate the altcoin price.

These fiat currencies supply are very heavily manipulated all the time, and we should not rely on governments to determine the value of bitcoins. We work on open markets where supply and demand,

dictate the value and on nothing else. The other fiat currencies are failing, because they manipulate the supply. We know there will only be 21 000 000 bitcoins and that should be the determining

factor for it's price. Bitcoin can stand on it's own, it does not have to rely on fiat currencies to determine it's value. 

well said just leave bitcoin to work by itself no need to rely on anything it is existing without any reliance from any currency so we must not determine the price on any thing. thanks sir.

[yayayo]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

It's an unneeded idea, because the free market will find a fair valuation for all currencies and assets. Centrally planned exchange rates tend to have a short history since reality doesn't care about centralized planning.

You've also made a serious logical error, because you assume that the USD would be solely used as an exchange medium for Bitcoin. That, of course, is utter nonsense. The USD is used to trade millions of other things apart from Bitcoin. Under your assumption you would no longer be able to buy even a single sandwich with the USD, since the whole currency would be absorbed for buying Bitcoin. However, if that was the case, the USD would serve no purpose as a separate currency - it would effectively just be a different currency unit for Bitcoin.

ya.ya.yo!

[michkima]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

Insane Idea, you cannot calculate the total quantity of bitcoin vs the total quantity of money for bitcoin price.  You need to see it's value first, then the adoption of people.  Btw you failed to includee euro, yen, rupi, peso and other nations money to compute your Bitcoin price.

It is simple logic. If you know the quantity of euro, yen, rupi, peso you can include them and calculate the altcoin price.

These fiat currencies supply are very heavily manipulated all the time, and we should not rely on governments to determine the value of bitcoins. We work on open markets where supply and demand,

dictate the value and on nothing else. The other fiat currencies are failing, because they manipulate the supply. We know there will only be 21 000 000 bitcoins and that should be the determining

factor for it's price. Bitcoin can stand on it's own, it does not have to rely on fiat currencies to determine it's value. 

The central banks can manipulate the fiat supply by doing quantitative easing, ie printing money. That is bad.

[Dudeperfect]

I think this is insane calculation. You can’t really decide the price of 21 million bitcoins. You can only decide the price of bitcoins in your holdings (that will be the price you are willing to take in exchange of those coins and that too if market conditions are in your favor).

If we are calling bitcoin a decentralized currency then why you want to keep control on price? Yes I want a growth in price but I am expecting it in a natural way. Let the law of ‘demand and supply’ decide it.

[oceanriver]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

Insane Idea, you cannot calculate the total quantity of bitcoin vs the total quantity of money for bitcoin price.  You need to see it's value first, then the adoption of people.  Btw you failed to includee euro, yen, rupi, peso and other nations money to compute your Bitcoin price.

It is simple logic. If you know the quantity of euro, yen, rupi, peso you can include them and calculate the altcoin price.

thats true, though you would need to have an auto calculator i guess and thats it it is really easy to solve it

[The Sceptical Chymist]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

Yes, I like your idea. You're right. I'm all willing to help you set up that new system of yours. I guess we could start with me selling you one BTC. I'll pay the bank fee to transfer the $500.000 to my account and I'll send you one BTC right away.

It's funny reading this now, as bitcoin has broken through $500.  You would be on the losing end of that deal at present.   I agree that free markets must rule, and bitcoin can't be tied to one country's currency.

Off topic:  What's up with yobit?  They're offline and before that they said Dash withdrawals were suspended.   Gotta use poloniex next time.

[Doamader]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

Yes, I like your idea. You're right. I'm all willing to help you set up that new system of yours. I guess we could start with me selling you one BTC. I'll pay the bank fee to transfer the $500.000 to my account and I'll send you one BTC right away.

It's funny reading this now, as bitcoin has broken through $500.  You would be on the losing end of that deal at present.   I agree that free markets must rule, and bitcoin can't be tied to one country's currency.

Off topic:  What's up with yobit?  They're offline and before that they said Dash withdrawals were suspended.   Gotta use poloniex next time.

The current rate system is the best, changing it to your version will make shitcoins have some value soo its uselles and will point new investors into the wrong side.
Off topic, i had heard something about yobit being offline, but i didnt see any thread to talk about it, if you know one about those problem let me know.

[davis196]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

And why bitcoin value should be linked only with USD?

It`s impossible to maintain a fixed exchange rate between btc and USD.

The market and the people determine the value and the price of currencies.

[dihari]

its good idea for us who trade on the market.
but the most important should we have is a great exchanger with great security and insurance.
because its not funny anymore when you enjoying trading, some hacker trying to stole your money.

[rphk]

it is an good idea to have new exchange rate system, bitcoin should gain more popularity . more the buy in demand the bitcoin price will go high , and bitcoin is now dominating on digital currency , there i huge growth for the bitcoin in future .

[funbarrel]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

Insane Idea, you cannot calculate the total quantity of bitcoin vs the total quantity of money for bitcoin price.  You need to see it's value first, then the adoption of people.  Btw you failed to includee euro, yen, rupi, peso and other nations money to compute your Bitcoin price.

It is simple logic. If you know the quantity of euro, yen, rupi, peso you can include them and calculate the altcoin price.

yeah it is really easy, i doubt that we need an exchange system for that as it is easy to count yourself

[michkima]

it is an good idea to have new exchange rate system, bitcoin should gain more popularity . more the buy in demand the bitcoin price will go high , and bitcoin is now dominating on digital currency , there i huge growth for the bitcoin in future .

When the bitcoin is very popular and everybody uses it, there will be no exchange system. It is the only currency.

[justspare]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

Yes, I like your idea. You're right. I'm all willing to help you set up that new system of yours. I guess we could start with me selling you one BTC. I'll pay the bank fee to transfer the $500.000 to my account and I'll send you one BTC right away.

How are you supporting this idea. You are a legendary and you should know a lot about Bitcoin. This system would completely destroy the point of the market cap. I definitely think it is a bad idea.

[traderethereum]

We must build a new exchange rate system based on the quantity of money in existence. For example the bitcoin/U.S. dollar exchange rate should be: 1 bitcoin = 500.000 U.S. dollars because all the U.S. dollars in the world are 10.5 trillion. (10.5 trillion/21 million = 500.000).

What do you think about this idea?

i think its not happen for now, but i am sure that in future, that price will be reasonable when bitcoin itself is ready to be another payment, not only on internet, but in real life, and there is many store offline around us that will accept bitcoin as their payment.

for now, the price of 1 bitcoin =  500.000 US dollars is really a dream for every bitcoiners and this will need some time before it can reach for that price. let we use the price at the moment and follow the journey of bitcoin itself.

[Doamader]

This is just your dream, bitcoin has nothing to do with dollar or any other currencie, i do understand you would like to see those, who wouldnt, but bitcoin its independent and wont be never addicted to any currencie, you can trade it against any currency and just.

[Leprikon]

Incorrect assessment of the situation. Why then do not you take into account the currency of other countries? After bitcoints distributed worldwide. Why do we put such a relationship. bitcoints rate depends on many factors, not only on the amount of dollars

[mirakal]

OP idea is so rare, I really do not want to overthink so much of it as we already have our exchanges now and I am contented with the exchange rate system they are using and they have the standard one, maybe we should just follow it because that is the normal and right thing to do.

[michkima]

This is just your dream, bitcoin has nothing to do with dollar or any other currencie, i do understand you would like to see those, who wouldnt, but bitcoin its independent and wont be never addicted to any currencie, you can trade it against any currency and just.

You are absolutely right. The bitcoin is a currency, it does not rely on the US dollar or other  fiat to survive.