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NavySeals
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August 26, 2017, 09:34:28 PM |
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When people talk about Bitcoin price, they usually refer to its price expressed in dollars. I really don't understand why...
US Dollar is going down in price, US economy is collapsing. There are many other countries which has more Bitcoin users, like Russia, China, Japan, Philippines and the whole Eurozone. Even ICOs are forbidden in the USA. It's not a so Bitcoin-friendly country, its national currency is not so strong. So why price Bitcoin in $?
There could be many other more appropriate currencies like EUR, CNY or RUB...
You're wrong in one aspect, not everyone consider bicoin's price in terms of USD. In Russia, RUB is very usual. IN China, CNY always domanites over USD and Chinese exchanges are in form of CNY type of trades. Maybe the only problem is with EUR. |
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mobilestrike
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August 26, 2017, 11:22:26 PM |
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In my opinion I think USD or $ is being compared to BTC BTC because of USA is one of the top Leaders in many industrial business like in currency, products, technologies, Also all around the world many people communicate to each other or any race like asian, europe, black speaks the number 1 language that is English.
Yes. This is something which is really true and valid. Bitcoin is compared to USD because US is perhaps the most leading country in the world, especially when e talk about trade and economics. Many countries use English as an important language for their official use. So, it will not be wrong, saying that, USD is an official currency which is used in the whole world for comparison and stalk exchange etc. |
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inanilujimi
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August 26, 2017, 11:41:11 PM |
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I think that's why the USD is compared to BTC because USD is the center of the world economy
Some Asian countries will be affected by the economy if the dollar rises or falls.
I think that's why the USD is compared to BTC
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chav216
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Activity: 79
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Hello all
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August 26, 2017, 11:48:11 PM |
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When people talk about Bitcoin price, they usually refer to its price expressed in dollars. I really don't understand why...
US Dollar is going down in price, US economy is collapsing. There are many other countries which has more Bitcoin users, like Russia, China, Japan, Philippines and the whole Eurozone. Even ICOs are forbidden in the USA. It's not a so Bitcoin-friendly country, its national currency is not so strong. So why price Bitcoin in $?
There could be many other more appropriate currencies like EUR, CNY or RUB...
If it wasnt for the USD beinf the base $, I would have very little understanding of how the market works as USD ys my main firm of fiat. If it was any other fiat, I would have to convert then monitor the fiat to make sure my bang for buck. Everyone knows the US economy will fall which makes BTC even better. |
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romani245
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August 26, 2017, 11:56:25 PM |
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When people talk about Bitcoin price, they usually refer to its price expressed in dollars. I really don't understand why...
US Dollar is going down in price, US economy is collapsing. There are many other countries which has more Bitcoin users, like Russia, China, Japan, Philippines and the whole Eurozone. Even ICOs are forbidden in the USA. It's not a so Bitcoin-friendly country, its national currency is not so strong. So why price Bitcoin in $?
There could be many other more appropriate currencies like EUR, CNY or RUB...
Whatever happens in the long term, the USD is still the most dominant currency in the world. The US economy remains the largest in the world, too. And their military exists to keep it that way for as long as they can. So it's still very relevant, and it's always a massive market for BTC and altcoins. ICOs aren't forbidden; the SEC just said that some ICO tokens are securities (they didn't specify except for the DAO and didn't take any punitive action). Some ICO promoters are just worried about them. I wouldn't say that the US is not Bitcoin-friendly; they are just very regulation-oriented and the government likes to wave its dick around to make a point. |
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seattletu
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August 27, 2017, 12:49:10 AM |
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One reason can be from refined from lessons learned in our history of decentralized systems versus other centralized systems. One can be acknowledged through the present day scene, and one investigates the eventual fate of cash as we probably am aware it. So we should start with our capacity to gain from history.
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aardvark15
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August 27, 2017, 01:01:33 AM |
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When people talk about Bitcoin price, they usually refer to its price expressed in dollars. I really don't understand why...
US Dollar is going down in price, US economy is collapsing. There are many other countries which has more Bitcoin users, like Russia, China, Japan, Philippines and the whole Eurozone. Even ICOs are forbidden in the USA. It's not a so Bitcoin-friendly country, its national currency is not so strong. So why price Bitcoin in $?
There could be many other more appropriate currencies like EUR, CNY or RUB...
You can compare Bitcoin to any fiat currency or any altcoin. I'm sure that on Japanese message boards, they use the Japanese yen as the basis for comparison. I've seen exchanges with euros and rubles as trading pairs. I think you are looking at sites that have a larger American following so the US dollar it what is used for those sites more than other fiat currencies. |
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Brigalabdis
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August 27, 2017, 02:19:31 AM |
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I think because dollar have low price and bitcoin being expensive more and more. Many user use bitcoin because they can earn bitcoin easily unlike dollar. It is easy to use bitcoin because bitcoin have an own world.
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Soros Shorts
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August 27, 2017, 02:44:06 AM |
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US Dollar is going down in price, US economy is collapsing.
In 2017 the USD is weakening against major currencies but it is hardly collapsing, at least relative to other economies. In fact, between 2012 and 2016 the USD has strengthened against EUR, RUB and CNY. It wasn't because the US economy was doing great. Rather it was a case of the other economies doing worse than the US. |
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Seansky
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August 27, 2017, 02:53:33 AM |
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When people talk about Bitcoin price, they usually refer to its price expressed in dollars. I really don't understand why...
US Dollar is going down in price, US economy is collapsing. There are many other countries which has more Bitcoin users, like Russia, China, Japan, Philippines and the whole Eurozone. Even ICOs are forbidden in the USA. It's not a so Bitcoin-friendly country, its national currency is not so strong. So why price Bitcoin in $?
There could be many other more appropriate currencies like EUR, CNY or RUB...
Even if there are more appropriate currencies in the world to compare btc price into, USD is still the world's leading fiat currency at present and is still dominating in many industries and for this reason even stocks sometimes base their price on USD. In terms of people talking about btc price which knows that they are both from the same country, sometimes USD is not used since they use the fiat currency that is used in their country to talk about btc price. |
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DoublerHunter
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August 27, 2017, 03:18:13 AM |
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Bitcoin is always priced in USD because USD is one of the most famous and most used currency in the world and it is the universal currency and if you are from Philippines then you cannot use their money to buy things internationally and you need to convert it into USD first before you buy something and that is why bitcoin is generalized and priced as USD.
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nightrider
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August 27, 2017, 03:27:38 AM |
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When people talk about Bitcoin price, they usually refer to its price expressed in dollars. I really don't understand why...
US Dollar is going down in price, US economy is collapsing. There are many other countries which has more Bitcoin users, like Russia, China, Japan, Philippines and the whole Eurozone. Even ICOs are forbidden in the USA. It's not a so Bitcoin-friendly country, its national currency is not so strong. So why price Bitcoin in $?
There could be many other more appropriate currencies like EUR, CNY or RUB...
What do you think when talking about USD? A world leader? Is the common currency recognized and used by everyone? With the same features, bitcoin and USD are comparable. |
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karanggatak
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August 27, 2017, 03:35:39 AM |
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When people talk about Bitcoin price, they usually refer to its price expressed in dollars. I really don't understand why...
US Dollar is going down in price, US economy is collapsing. There are many other countries which has more Bitcoin users, like Russia, China, Japan, Philippines and the whole Eurozone. Even ICOs are forbidden in the USA. It's not a so Bitcoin-friendly country, its national currency is not so strong. So why price Bitcoin in $?
There could be many other more appropriate currencies like EUR, CNY or RUB...
Because USD is still the reference of the world as a currency that is widely used today Besides that USD has become the currency that is used every day in our life, between countries now more inclined to use usd (majority). Maybe in the presence of bitcoin sometime usd will no longer feasible to be compared |
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Darker45
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August 27, 2017, 03:41:08 AM |
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When people talk about Bitcoin price, they usually refer to its price expressed in dollars. I really don't understand why...
US Dollar is going down in price, US economy is collapsing. There are many other countries which has more Bitcoin users, like Russia, China, Japan, Philippines and the whole Eurozone. Even ICOs are forbidden in the USA. It's not a so Bitcoin-friendly country, its national currency is not so strong. So why price Bitcoin in $?
There could be many other more appropriate currencies like EUR, CNY or RUB...
That is just to compare the real or monetary value of Bitcoin. USD has become like a default world currency so the basis of most of international stuff that has value has to be in USD. For example in Bittrex, the basis of monetary assessment will be in USD. But you can always have it compared to Euro. |
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Similificator
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August 27, 2017, 03:45:41 AM |
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When people talk about Bitcoin price, they usually refer to its price expressed in dollars. I really don't understand why...
US Dollar is going down in price, US economy is collapsing. There are many other countries which has more Bitcoin users, like Russia, China, Japan, Philippines and the whole Eurozone. Even ICOs are forbidden in the USA. It's not a so Bitcoin-friendly country, its national currency is not so strong. So why price Bitcoin in $?
There could be many other more appropriate currencies like EUR, CNY or RUB...
You obviously don't know that much about how every country sees every currency. Because just fyi, some countries do use their fiat to put a price on bitcoin or other things. China is an example. But really depends on the person if he wants to refer to his own fiat for the price of btc. But to answer your question., i think maybe it is because of the way dollars have shown its stability for the longest time. Plus it has great influence in terms of economic things. Plus it has already proven its superiority over other counties for a lot of years now. So even if a lot of fiat has become better than dollars, people prefer referring prices to dollar because it has been what they got used to. Generations of being used to something is pretty hard to change. |
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bubblebit
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August 27, 2017, 03:52:27 AM |
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I'm from a country with own national currency that i been used to compare the value of bitcoin. And every citizen of every country does that. So it is not totally correct that usd is the only basis of bitcoin value, but maybe sometimes. It is much easier and more understandable if you used local currency that USD.
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jtipt
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August 27, 2017, 03:52:34 AM |
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The simple reason why mostly BTC is expressed in USD is that USD is the most widely accepted currency and almost everyone is upto date with its price and economy. Yes USD might be going down in price this year, but it's still far more comfortable and easy to use USD than other currencies.
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ivrynx
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August 27, 2017, 04:04:10 AM |
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people compare Bitcoin to USD, probably because in the Fiat world, all foreign exchanges are comparing their currency to the dollar, making it a basis to check whether their money is gaining spending power or not, because back then the dollar has no value, after they took it off of the gold standard, in order to save the US economy, and they made it to petro dollar, but it is not backed up by any other commodities, they just made use of USD as the basis of payment, and so all other countries follow, since oil is energy, and we need energy for the country to work, that's why countries exports dollar and in the middle east, they would take USD as payment. however in the crypto world, Bitcoin has a different story, most cryptocurrencies are comparing their coins to bitcoin, since bitcoins can be exchanged to any fiat currency, not only USD, we are only using USD as a basis again, to check the spending power or value of bitcoin, in other words, both bitcoin and USD does not coincide with each other, if the value of the dollar goes down and the value of euro or rupee goes up, it is much more practical to exchange bitcoins to the latter fiat currencies, since bitcoin does not only support USD. I think we should all first check the history of money and how it came to be and since that we are in and age of advance technology and bitcoin is on top of the crypto world right now, we cannot just only compare bitcoin to the dollar. we need to remember that at first there was the barter exchange, the exchange of goods, and then we learn to use coins, gold coins, silver and copper, and those coins still has value, and bitcoin is gold 2.0, which means its value increases through time, and doesn't get affected whether the value of USD goes up or down.
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Gotomoon
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August 27, 2017, 04:30:39 AM |
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The simple reason why mostly BTC is expressed in USD is that USD is the most widely accepted currency and almost everyone is upto date with its price and economy. Yes USD might be going down in price this year, but it's still far more comfortable and easy to use USD than other currencies.
Bitcoin compare to Usd because USD is the most used currency worldwide. Usd as the currency worldwide but in bitcoin everyone can grab the opportunity to earn money. Because bitcoin is being rising the price and others wanted to invest just for profit. So however, btc is really comparable to dollar. |
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Ilegendph
Full Member
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Activity: 434
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Thinking on the higher plane of existence.
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August 27, 2017, 04:44:04 AM |
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When people talk about Bitcoin price, they usually refer to its price expressed in dollars. I really don't understand why...
US Dollar is going down in price, US economy is collapsing. There are many other countries which has more Bitcoin users, like Russia, China, Japan, Philippines and the whole Eurozone. Even ICOs are forbidden in the USA. It's not a so Bitcoin-friendly country, its national currency is not so strong. So why price Bitcoin in $?
There could be many other more appropriate currencies like EUR, CNY or RUB...
Bitcoin is compared to US dollars because US dollars is the most common mode of exchange. For example in a forex company they usually comapare the price of their curency to 1 dollar. And in this manner it is easy to say if the status of bitcoin is good or bad as compared to US dollars |
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