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Author Topic: How does a decline U.S. Dollar can affect Crypto?  (Read 130 times)
AzatFinrazor
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August 07, 2018, 03:08:30 PM
 #1

Hi guys!

Robert Kiyosaki says, 'I think the dollar is toast because Gold and Silver and cyber currency are going to take it out'.

How likely it is that it will be true?
How can this affect crypto, specifically the price of Bitcoin?

Thank for you opinions!
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o_e_l_e_o
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August 07, 2018, 04:11:13 PM
 #2

Depends what you/he means.

Gold and silver are impractical, if not impossible, to use as currency - no one is going to carry around various weights of gold/silver to spend. As a store of value, however, they are currently much less volatile than crypto, but there's nothing to say they won't both continue to fall as they have been doing since 2011/2012.

Crypto has the potential to replace the dollar as a currency, but widespread adoption is a long way away.


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August 07, 2018, 04:31:55 PM
 #3

I dont think cryptocurrency will replace dollar. The government controls dollar value for economic stability and cryptocurrency is something that can not be set easily. It has a system on its own which I think will block it from being used as a currency. Volatility is present that causes it not to be used easily. Gold and silver on the other hand are resources that may affect the value of dollar which could also be used as a currency. I think Gold is a bit stable but  carrying gold and silver anywhere is quite dangerous. I also believe that dollar may have an effect on the value of bitcoin because it is the currency that is used to buy it, so that should any crisis occur with the dollar, the volume of bitcoin may as well be lessen.

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August 08, 2018, 01:23:28 AM
 #4

The only way that the decline in USD can affect cryptocurrency is when you are exchange coins/tokens into fiat as cryptocurrency can still be exchanged to different kinds of fiat out there. Also many people will turn into gold, silver and cryptocurrency if a great recession will happen in the US government specially with its debt.

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August 08, 2018, 01:44:43 AM
 #5

only way to affect would be in countries that the dollar is worth four times but but anyway bitcoin with the dollar will be a world currency
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August 08, 2018, 10:36:24 PM
 #6

The US Dollar has become a global currency used in major business deals all over the world. I don't see bitcoin overtaking the place of the USD anytime soon. But it will be highly possible when most people in the business world begin to appreciate bitcoin and all Cryptos as a medium of exchange for goods and services.
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August 09, 2018, 12:23:12 AM
 #7

In my opinion the opposite is true it is the decline in the price of Bitcoin that affects USD value. But price fluctuations are not only influenced by one factor, there are several variables that underlie the change in price like demand and supplies, etc.
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August 09, 2018, 01:03:58 AM
 #8

The trend of cryptocurrency and Bitcoin is increasing in the international world. Some Bank says that want to adopt the cryptocurrency or bitcoin if the capitalization market reach 500 billion dollar AS. It is difficult to replace a conventional fiat because in some countries the application and usage of conventional fiat is still high, moreover in my own country. And other factor that make bitcoin is not able to replace conventional fiat because the price is very fluctuative and it is not centralize. In future, it is just become an alternative fiat. 

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August 09, 2018, 08:08:02 AM
 #9

Hi guys!

Robert Kiyosaki says, 'I think the dollar is toast because Gold and Silver and cyber currency are going to take it out'.

How likely it is that it will be true?
How can this affect crypto, specifically the price of Bitcoin?

Thank for you opinions!
Well I know that Robert Kiyosaki is really wise guy and if he said that it mean that he is confidence in that. I've heard his books so we can be really aware of that dollar will go down at the time then crypto currency will go up.

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August 09, 2018, 08:44:36 AM
 #10

Dollar gave bitcoin a notional value and it is not really affecting its movement at all. What affects bitcoin is simple fact that is, How much Dollar is being moved into it and how much Dollar is taken out against the bitcoin. Thats all, this influx and outflow of the fiat from bitcoin will affect its price movement all the time because it is what drives the market cap of bitcoin. I dont think that dollar value and its own trade in the real world can affect bitcoin value directly. There could be indirect relation but I doubt that too.


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August 09, 2018, 08:48:43 AM
 #11

A weakening dollar may mean a stronger cryptocurrency. But it does not have that much effect unless there is already a strong support for crypto. Adaptation of crypto is still very low in a worldwide scale. So even if the dollar weakens, it does not automatically translate that bitcoin will pump up. Maybe Kiyosaki is right but it is still a long way to go before it can be realized.

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August 09, 2018, 08:53:23 AM
 #12

Hi guys!

Robert Kiyosaki says, 'I think the dollar is toast because Gold and Silver and cyber currency are going to take it out'.

How likely it is that it will be true?
How can this affect crypto, specifically the price of Bitcoin?

Thank for you opinions!

Depends on the people that will use it though. I know that many people will solely rely of USD so it might not go down that much. Little people only know about crypto but somehow someday they will.

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August 09, 2018, 09:04:55 AM
 #13

Value of dollar doesn't affect crypto much. There might be some temporary decline in price of crypto if dollar crashed  but in long term, everything will be fine.

For the replacement part, Bitcoin or any crypto currency can never replace fiat because of many factors, mainly due to high volatility.
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August 09, 2018, 09:53:06 AM
 #14

Practically speaking, I do not see cryptocurrency replacing dollars, or any other currency soon. Fiat currency has been around for centuries so it will be hard to eliminate them completely. Dollar has its own system and is controlled by the government. However, it is possible to see cryptocurrency co-exist with fiat money when it gets more and more popular.
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August 09, 2018, 10:15:38 AM
 #15

Na, none of them can really take out the dollar or in your definition none of them can toast it our. Gold, Silver or even Crypto are just an assets which can be invested, traded and gambled. I dont think any of them can really get affected with the crypto. How? Because crypto currencies are not having any fiat properties at all. Dollar is just different stuff, it is circulated only within the countries, world and that too real one but not in the virtual world. Crypto currency is virtual world asset and hence there is effect of dollar to the crypto at all.  Tongue

   

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August 09, 2018, 10:18:30 AM
 #16

We haven't got the regular usage of bitcoin to be same as that of USD. We are in need of an conversion process to make use of our bitcoin on our desires. For this people use their respective fiat conversion. This shows the clear dependence of bitcoin on fiat, and when there is a market decline of USD the impact can be observed over bitcoin as well on conversion.
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August 09, 2018, 10:27:24 AM
 #17

U.S. Dollar can affect the Global Financial Market, cryptocurrency market is a part of it, that's why U.S. Dollar affects crypto also.
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August 09, 2018, 02:35:19 PM
 #18

That is influential, the dollar price has an effect on bitcoin because bitcoin is converted through dollars. If the dollar goes down then the value of bitcoin will rise but that is not a guarantee and the dollar price is difficult to go down.
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August 09, 2018, 06:50:22 PM
 #19

Hi guys!

Robert Kiyosaki says, 'I think the dollar is toast because Gold and Silver and cyber currency are going to take it out'.

How likely it is that it will be true?
How can this affect crypto, specifically the price of Bitcoin?

Thank for you opinions!

I don't think that decline in the US Dollar value would affect the cryptocurrency or bitcoin in a big way and also if there is anything that would affect the cryptocurrency then that is exchanging the Cryptocurrency with the Fiat currencies and especially i am expecting that BTC/USD will soon be legalized as the global currency as Gold and silver are just trading asset which is mostly used physically by the investors.

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stompix
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August 10, 2018, 04:29:51 PM
 #20

Hi guys!

Robert Kiyosaki says, 'I think the dollar is toast because Gold and Silver and cyber currency are going to take it out'.
How likely it is that it will be true?
How can this affect crypto, specifically the price of Bitcoin?
Thank for you opinions!
Well I know that Robert Kiyosaki is really wise guy and if he said that it mean that he is confidence in that. I've heard his books so we can be really aware of that dollar will go down at the time then crypto currency will go up.

I know that Robert Kiyosaki was so wise that he managed to bankrupt his own company.
Now, if a company that is supposed to give you advice on how to get wealthy is going bankrupt...I really wouldn't trust the guy running it.


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