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Author Topic: Is the value of BTC going up or the value of the dollar just going down?  (Read 2115 times)
Leon
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July 14, 2011, 09:08:27 PM
 #1

 Undecided

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July 14, 2011, 10:50:45 PM
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Why do our feet smell and noses run?

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July 15, 2011, 01:43:35 AM
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Why do our feet smell and noses run?


idkk...??  Huh

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Dhomochevsky
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July 15, 2011, 12:36:34 PM
 #4

Hey guys, I think we got a live one here!




To answer your question though, if you mean the short term - the last few weeks - bitcoin's value went down while the dollar stagnated/grew a little bit. On the long term though, the dollar has a healthy downward trend. But bitcoin grew in value faster than the dollar declined and it certainly wasn't because of said decline, it was just interest in BTC growing.
Bitcoin_Silver_Supply
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July 15, 2011, 07:19:11 PM
 #5

Bitcoin's big jump had everything to do with media attention after the silk road articles and far less to do with any imminent monetary fluctuations. That said, I highly doubt BTC would be holding at $13-15 if it wasn't for the state of the global economy and slow crash of the US dollar. Alternative currencies grow in value as the standard continues to fall.
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July 15, 2011, 08:56:03 PM
 #6

Hey guys, I think we got a live one here!




To answer your question though, if you mean the short term - the last few weeks - bitcoin's value went down while the dollar stagnated/grew a little bit. On the long term though, the dollar has a healthy downward trend. But bitcoin grew in value faster than the dollar declined and it certainly wasn't because of said decline, it was just interest in BTC growing.

Isn't that scary? Hyper inflation is on the way.. Sad

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JohnDoeZ
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July 15, 2011, 09:52:13 PM
 #7

because lots of peoples comparing btc with usd  Huh
why not compared btc to something else more valueable ? witch is i don't know either  Tongue
and it's hard todo because international transactions is done by us-dollar for yearsss
until someday it may change... maybe
each country must have their own btc-exchange is good, but compared to what ? Helium-3 price  Huh
replacing usd as international currency makes headcache
using usd as international currency is dangerous right now, us @ 95% of its gdp
iam not accountant so don't know what is going to happen if us pass 100%
japan looks ok to me. but US is the printer, so confusing  Roll Eyes
Cluster2k
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July 16, 2011, 05:58:45 PM
 #8

Bitcoin's big jump had everything to do with media attention after the silk road articles and far less to do with any imminent monetary fluctuations. That said, I highly doubt BTC would be holding at $13-15 if it wasn't for the state of the global economy and slow crash of the US dollar. Alternative currencies grow in value as the standard continues to fall.

People buy the following in times of financial panic:

1. Gold
2. Silver
3. Japanese Yen
4. Swiss Francs

Number 3 is a bit of a mystery as the bond yield absolutely stinks and the country has a long term debt time bomb ticking away in the government's coffers.  The Swiss make great cheese, timepieces, and will keep your dirty money safely ensconced in their banks.

I really doubt anyone is buying bitcoins because they believe the PIIGS will exit the Euro or that the Republicans and Democrats won't cease their playground antics.  Gold and silver have track records going back thousands of years.  No one heard of bitcoins before 2009.  The vast majority of people on this planet still haven't heard of them and would have no idea how to buy one or how to use one.

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Bitcoin Swami
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July 17, 2011, 03:07:06 AM
 #9

Bitcoin's big jump had everything to do with media attention after the silk road articles and far less to do with any imminent monetary fluctuations. That said, I highly doubt BTC would be holding at $13-15 if it wasn't for the state of the global economy and slow crash of the US dollar. Alternative currencies grow in value as the standard continues to fall.

People buy the following in times of financial panic:

1. Gold
2. Silver
3. Japanese Yen
4. Swiss Francs

Number 3 is a bit of a mystery as the bond yield absolutely stinks and the country has a long term debt time bomb ticking away in the government's coffers.  The Swiss make great cheese, timepieces, and will keep your dirty money safely ensconced in their banks.

I really doubt anyone is buying bitcoins because they believe the PIIGS will exit the Euro or that the Republicans and Democrats won't cease their playground antics.  Gold and silver have track records going back thousands of years.  No one heard of bitcoins before 2009.  The vast majority of people on this planet still haven't heard of them and would have no idea how to buy one or how to use one.

Why do the swiss make army knives if they have no army?  Undecided
Bitcoin_Silver_Supply
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July 17, 2011, 03:46:38 AM
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Why do the swiss make army knives if they have no army?  Undecided

Switzerland has an army with yearly mandatory service and nearly every family owns at least one rifle.
Sannyasi
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July 17, 2011, 04:10:32 AM
 #11

if value of the dollar was going down wouldn't the price of bitcoins in dollars be going up?

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July 17, 2011, 04:19:39 AM
 #12

Is the value of BTC going up or the value of the dollar just going down?
Relative to what?

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kr105
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July 17, 2011, 06:54:35 AM
 #13

if value of the dollar was going down wouldn't the price of bitcoins in dollars be going up?
^ this
blogospheroid
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July 17, 2011, 10:09:58 AM
 #14

You could use a couple of reference commodities like oil, gold and wheat to make the comparison.
GideonGono
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July 18, 2011, 06:34:47 PM
 #15

both. The USD and most fiat currencies on the planet have been falling in recent years relative to commodities, which are what really matters in an economy.

http://www.bloomberg.com/apps/quote?ticker=CRY:IND

abednego
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July 18, 2011, 07:50:33 PM
 #16

Investing in "commodity currencies" which are countries with natural resource export driven economies is a good way to hedge fiat currencies.  For instance; over the past year the Australian and Canadian dollar are up 20% and 9% respectively against the US dollar.

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