CoinOnTheBeach
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Activity: 90
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February 20, 2018, 12:11:50 PM |
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USD is a currency which many people can relate to and and are aware of its current value (more or less) with respect to their own local currency. I cannot imagine a Panamenian knowing the exact balboa equivalent to a rubel, lol Besides in a day to day live they operate in USD already. Same Egypt, when you deal with anyone as a tourist, they would operate and calculate is USD. 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...
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The block chain is the main innovation of Bitcoin. It is the
first distributed timestamping system.
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xbudahx
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February 20, 2018, 12:13:02 PM |
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Developers of crypto-currencies are ,as far as I know, Chinese or Japanese. Can it makes sense to talk about the price of crypto currency in the money of these countries?
But it seems like history does not give us accurate data. The world is not known for the developer is one person or a group of scientists. |
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twitami1
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February 20, 2018, 12:15:19 PM |
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I personally do not see any problem in how bitcoin or any other crypto currency is estimated. It does not matter what the value is. Let it be even in bananas. Each will translate the cost as it will be more convenient for him.
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fyubr
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February 20, 2018, 12:17:46 PM |
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I personally do not see any problem in how bitcoin or any other crypto currency is estimated. It does not matter what the value is. Let it be even in bananas. Each will translate the cost as it will be more convenient for him.
But not everyone knows how to count quickly and well. For some, it takes a lot of time. It would be more convenient to initially inform a person of the value in the currency that he knows. |
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alrose
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February 20, 2018, 12:21:42 PM |
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I personally do not see any problem in how bitcoin or any other crypto currency is estimated. It does not matter what the value is. Let it be even in bananas. Each will translate the cost as it will be more convenient for him.
But not everyone knows how to count quickly and well. For some, it takes a lot of time. It would be more convenient to initially inform a person of the value in the currency that he knows. Yes, but modern devices will always be there for you. Mobile phone, computer, calculator. Even if you know the basics of mathematics, you can roughly translate the values. With large amounts, it will probably be heavier, but you can calculate approximately the cost. |
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xbudahx
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February 20, 2018, 12:23:33 PM |
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I constantly have problems with the fact that friends from other countries own a currency other than mine. And I have to constantly follow the course to explain and translate their cost.
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S_tring
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OPEN Platform - Powering Blockchain Acceptance
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February 20, 2018, 12:28:34 PM |
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I constantly have problems with the fact that friends from other countries own a currency other than mine. And I have to constantly follow the course to explain and translate their cost.
Yes, I agree that it is problematic if you interact in different countries. But in the world market such a problem exists and will continue to exist. While there are different currencies around the world, such a problem will remain relevant. |
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Boysen
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February 20, 2018, 12:44:19 PM |
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Because US dollar is the basis of all currency value in the whole world. I don't know why, but it became like it is. Every national currency in existence competed with the US dollar's value and I don't think bitcoin is an exception to this. Bitcoin, although highly unstable and is now used as an investment is still could be considered as a currency.
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lenj
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February 20, 2018, 12:45:36 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...
All about the currency is talking about usd because we know it is accepted everywhere. So thats why it compared to usd. Finally also we need to convert to fiat to make any of purchase offline. |
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Rubble898zaitO
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Activity: 210
Merit: 0
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February 20, 2018, 12:53:03 PM |
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I think the reason behind this is that US Dollar is the world's standard currency. It is like English language which is universally known and used. There should be a standard currency where it will always be converted every time, I think that's SOP and nothing about American Bitcoin users or what not.
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jona
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Activity: 266
Merit: 10
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February 20, 2018, 12:56:55 PM |
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They make this comparisons because is a know currency and sometime the raise in value of USD and also drop in value.And as they see bitcoin also drop and raise in value they assume it same.But if bitcoin is publicly legalized it will over throw USD in times of value and popularity.
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fyubr
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February 20, 2018, 01:13:20 PM |
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I constantly have problems with the fact that friends from other countries own a currency other than mine. And I have to constantly follow the course to explain and translate their cost.
Yes, I agree that it is problematic if you interact in different countries. But in the world market such a problem exists and will continue to exist. While there are different currencies around the world, such a problem will remain relevant. It is high time for us to develop a single currency for the whole world. Why not measure the value of the goods in a single crypto currency. It is convenient and versatile. |
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twitami1
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February 20, 2018, 01:15:33 PM |
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Is ISO prohibited in the US? I did not know! This is an opening for me. It turns out that investing foreign projects for their country is illegal?
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fyubr
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February 20, 2018, 01:17:43 PM |
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Is ISO prohibited in the US? I did not know! This is an opening for me. It turns out that investing foreign projects for their country is illegal?
Then I do not understand why all the platforms that are developed and where they invite to participate in the ISO are described in English. This is stupid and not logical. |
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newb-dev
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February 20, 2018, 01:19:16 PM |
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Well in Europe many people compares bitcoin to euro because it is the most used currency here. It is normal to compare it with something your country is more used to
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An0nyMoose
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February 20, 2018, 01:34:45 PM |
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We compared BTC to USD on every exchange because you can only withdraw USD.
Other exchanges also nowadays using USDT where you can withdraw USDT to other exchanges but you cannot withdraw it to your bank acccount.
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gabbiee
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February 20, 2018, 01:40:26 PM |
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Well in Europe many people compares bitcoin to euro because it is the most used currency here. It is normal to compare it with something your country is more used to
I guess you're right it totally depends what country are you in. Because most of the countries in the world are familiar with dollars because this is the currency used in the world trading center. I was thought that the economy of a certain country like where I am from depends upon the dollar reserve a country has, which means dollar is the dominating currency around the globe. |
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mhj
Jr. Member
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Activity: 266
Merit: 1
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February 20, 2018, 01:53:55 PM |
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Well in Europe many people compares bitcoin to euro because it is the most used currency here. It is normal to compare it with something your country is more used to
I guess you're right it totally depends what country are you in. Because most of the countries in the world are familiar with dollars because this is the currency used in the world trading center. I was thought that the economy of a certain country like where I am from depends upon the dollar reserve a country has, which means dollar is the dominating currency around the globe. yes bro.i agree with you.bitcoin compare to usd because many country money is many others system and quality .so what country you live in.and then you have a amount of bitcoin price.but all crypto price compare to usd. |
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fattyforhire
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February 20, 2018, 06:42:37 PM |
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The dollar is the most common currency in the world, it operates in almost all countries. And of course, it is more convenient to focus on dollars to evaluate bitcoin.
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rtm125
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Activity: 434
Merit: 10
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February 20, 2018, 06:45:39 PM |
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I usually also focus on the value of bitcoin in dollars, and only then convert these figures into your local currency. I'm comfortable with it.
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