Dollar Collapse - What does it mean for Bitcoin ?

[OmegaStarScream]

There is a lot of videos and articles around the web about how the dollar will collapse on 27 September 2016.
I'm not sure how exactly they got this date, even If it's not the real date, It seems like a lot of experts keep saying that a collapse is coming soon.

Assuming that the Dollar collapse indeed , what does it mean for Bitcoin exactly ?

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[Carlton Banks]

1st rule of market predictions: only ever predict the "what", "how much" and "when" separately. This prediction appears to be predicting all 3 together. Tempting to bet against it (although I don't partake in that kind of gambling)

[NorrisK]

Seems more like a big conspiracy theory than a real event. Unless something like mr. robot is planned to actually happen, I don't see how anyone can announce a specific date for an event like that.

If the dollar collapses, bitcoin will be worth more dollars, but so will euro and yen and yuan. Purchasing power of bitcoin will not neccesarily increase, it will just become worth a ton of worthless fiat. For purchasing power to increase, we need a mass shift towards bitcoin so that demand will increase tremendously.

[Daneric]

There is a lot of videos and articles around the web about how the dollar will collapse on 27 September 2016.
I'm not sure how exactly they got this date, even If it's not the real date, It seems like a lot of experts keep saying that a collapse is coming soon.

Assuming that the Dollar collapse indeed , what does it mean for Bitcoin exactly ?

The talk of the dollar collapsing has been around for some time I don't think there is any theory to support it. I am not sure what prompted someone to give the date of collapse, given that there are a lot of market dynamics in place. You can not predict such an event unless you have some in house information about an intended event that will cause the collapse.

[poptok1]

Seems more like a big conspiracy theory than a real event. Unless something like mr. robot is planned to actually happen, I don't see how anyone can announce a specific date for an event like that.
If the dollar collapses, bitcoin will be worth more dollars, but so will euro and yen and yuan. Purchasing power of bitcoin will not neccesarily increase, it will just become worth a ton of worthless fiat. For purchasing power to increase, we need a mass shift towards bitcoin so that demand will increase tremendously.

I also think in the similar fashion. We have already witnessed dollar value drop last year and absolutely nothing happened with bitcoins charts. It was still at steady grow. Back than it was a little surprise for me. Now I know that there is no connection between fiat markets and bitcoin and I love it. This makes bitcoin, despite the fluctuations, the most reliable coin around.
If that is a conspiracy there, than this maybe a good time to buy.

     

[Carlton Banks]

Seems more like a big conspiracy theory than a real event.

I also think in the similar fashion.

[...]

If that is a conspiracy there, than this maybe a good time to buy.

Don't use big words if you don't know what they mean please, gentlemen.

Conspiracy does not mean "something that's not true"

[jertsy]

1st rule of market predictions: only ever predict the "what", "how much" and "when" separately. This prediction appears to be predicting all 3 together. Tempting to bet against it (although I don't partake in that kind of gambling)

Professor Bitcorn made that mistake by predicting Bitcoin would crash to less than $10 in 2014. He might not be a laughing stock if he had only predicted a price without a date.

If the dollar really collapses soon it's affect on Bitcoin would depend on if all the other major currencies also collapsed. If they all simultaneously collapsed Bitcoin would become a safe haven for investors like gold. If only the dollar collapsed investors would move their money into other strong currencies, and Bitcoin wouldn't become a major safe haven.

[jak3]

did kt really makes any sence well honestly i never herd of such even like collapsong a currency and it really happens then i do not think it will effect bitcoin because we exchange some faint currency in exchange of bitcoin

[yayayo]

There is a lot of videos and articles around the web about how the dollar will collapse on 27 September 2016.
I'm not sure how exactly they got this date, even If it's not the real date, It seems like a lot of experts keep saying that a collapse is coming soon.

Assuming that the Dollar collapse indeed , what does it mean for Bitcoin exactly ?

There's a lot of idiocy around the web for sure. While it's reasonable that the reserve currency status of the USD will be replaced in the foreseeable future it is very difficult to make an exact prediction. What information leads to the assumption that the USD will collapse at a single day, on September 27th? Without proper explanation I consider this pure speculation to generate media attention through fearmongering.

That said, if you look at geopolitics, you can clearly see that the USD is loosing its status as a global trade currency. There is an increasing motivation for important powers in the east (China, Russia, Iran...) to use their own currencies for bilateral trade. Also, oil as a main source of energy for individual mobility is on the retreat in favor of (green) electricity. Oil, however is one of the backbones of the USD - the other being the US military. Meanwhile, the US debt has reached record highs...

ya.ya.yo!

[d@nte]

I think dollar won't collapse anytime soon, but even it happened, there won't be any major effect for bitcoin at all.
People would think ways to save their asset or how to keep their business running instead buying lots of bitcoin.

I agree that it will not collapse soon, but I disagree with regard to the low effect on bitcoin, if that happen. People will look for other alternatives and bitcoin is the best right now.

[gentlemand]

The dollar has been one week away from collapse for somewhere around 40 years. It's still doing fine and will continue to do fine.

[yayayo]

I think dollar won't collapse anytime soon, but even it happened, there won't be any major effect for bitcoin at all.
People would think ways to save their asset or how to keep their business running instead buying lots of bitcoin.

I agree that it will not collapse soon, but I disagree with regard to the low effect on bitcoin, if that happen. People will look for other alternatives and bitcoin is the best right now.

Yes, people will look for alternatives. But people will buy what they already know. And - compared to the general population, Bitcoin is only known by few people. So there will be some capital inflow into Bitcoin, but the main share will go into precious metals, land/real estate and stocks. I know for a Bitcoiner it's tempting to assume that people become easily aware of the unique properties and advantages of Bitcoin. However in practice, most people don't think a lot about the properties of money, other than that they want to own as much as possible... So only few might realize that Bitcoin is a viable solution to currency devaluation.

On the other hand even a moderate capital inflow into Bitcoin might have a considerable effect on Bitcoin valuation, since the market capitalization and liquidity at exchanges is still quite small. But if you measure Bitcoin valuation in fiat money, a devaluation of fiat money will logically result in a numerical increase in Bitcoin valuation while its buying power might not have changed at all. So it might make sense to determine Bitcoin's worth using a different benchmark (like precious metals).

ya.ya.yo!

[Pursuer]

There is a lot of videos and articles around the web about how the dollar will collapse on 27 September 2016.
I'm not sure how exactly they got this date, even If it's not the real date, It seems like a lot of experts keep saying that a collapse is coming soon.

Assuming that the Dollar collapse indeed , what does it mean for Bitcoin exactly ?

this is a very interesting prediction for sure but I have been hearing this before too, and I am not such an expert to give any opinion on this matter but I have got a feeling that it is not gonna fall as they predict it.

as for bitcoin, although it is tempting to think people are going to look for an alternative but I don't think it will be that great an effect on bitcoin in case of a collapse.

[Carlton Banks]

The dollar has been one week away from collapse for somewhere around 40 years. It's still doing fine and will continue to do fine.

This assessment is no better than the scare stories. The dollar will not continue to do fine, nearly every economic trend is stacked against it.

[btvGainer]

We have to wait to watch what happens.If bitcoin and dollars both depreciate,which is the case at present,than nothing is going to happen.If bitcoin goes up and dollar falls down,people will start buying bitcoin giving it further push

[BitFinnese]

there is no direct impact on bitcoin if dollar collapse.  It's that bitcoin will get higher in terms of dollar since dollar is devaluating but the actual value still the same unless people will try to exit and convert their fiat to bitcoin, that way it will greatly affect bitcoin by creating a bubble, an increase in price than is followed by  a steep decline.

[bithasher]

First off , I don't think dollar will collapse because it is backed by petro-dollar which is its real strength. As long as petrol will be traded in dollar forget about its collapsing. There is no alternative of dollar right now neither Bitcoin can do much. I think this is also a type of hype to attach bitcoin or other assets with these types of imaginary events. I really don't believe in these so-called web based financial experts they have said many things over the last years and nothing happened yet.

[poptok1]

Seems more like a big conspiracy theory than a real event.

I also think in the similar fashion.
[...]
If that is a conspiracy there, than this maybe a good time to buy.

Don't use big words if you don't know what they mean please, gentlemen.
Conspiracy does not mean "something that's not true"

Yes, you right but where did you get the impression that we dont know the meaning of this word? Conspiracy is or maybe real but from its fundamentals turns out that its unreliable and non constant. Some thing may go wrong and conspirators will forfeit their plan, human factor or any other may cause the plan to go sideways etc.
Ergo, even if real the consequences are hard to predict.
Besides traces of conspiracy will be hidden for long time after, so we cant say anything for sure.

btvGainer sums it up nicely. We have to wait a little and see.
I'm sure next bubble is on the way, rather small and stable.  
 

[Cereberus]

Bitcoin will not be impacted much by a dollar collapse maybe just a little. What I want to answer is why nothing will happen on 27 September 2016 and that this is just a conspiracy theory very common in our time. The reason nothing will happen is simple and that is dollar depends on US economic data and the interest rate of Federal Reserve. Both these are positive for dollar nowadays and I don't think this will change for just 1 month. USA is on the most perfect economic times with the unemployment rate in the minimum possible 4.9% to 5.1% during the Obama mandates. Interest rate is positive so everything is looking perfect for the moment. I wonder how can people possibly vote for Trump and against Obama.

[xuan87]

I dont think it will give any effect or impact to bitcoin, bitcoin doesnt rely on dollar or any currency, bitcoin is the depend on the user and how the user spend the coin, so there wont be any chaos or panic if the dollar crash, but if the dollar crash, i will have more dollars if i sell the coin and if i wait for the right timing to trade it, then maybe I can earn some profit