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Author Topic: How does a decline U.S. Dollar can affect Crypto?  (Read 129 times)
mikyadel
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August 10, 2018, 05:03:29 PM
 #21

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.
Gold will be the king in terms of its value and the fact it don't change by time .cryptocurrecny has the potential to get in the competition with the gold once it becomes more stable in price . As a replacement for dollar as a trade currency , i don't believe that could ever happen as dollar dominates the field of import and export between countries and that's why USA will continue to fight cryptocurrency as once cyptocurrency replace dollar , american economy will fall and will follow by another global economy crisis like the once in 2008.

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August 10, 2018, 11:56:50 PM
 #22

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.
Not only gold and silver,even crypto could not completely replay dollar as it is not backed by any governments.But dollar is already suffering a threat from China and Russia who were trying to boycott dollars and instead use their own currencies to close the dollar's dominance.

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August 11, 2018, 12:04:38 AM
 #23

maybe the main reason why Dollar can affect bitcoin is, because bitcoin is converted into fiat currency.
maybe in some countries you can use bitcoin without having to exchange it for paper money first, but that doesn't apply to countries that don't accept bitcoin, then you have to exchange it first with fiat, and of course the bitcoin exchange rate is affected by your currency exchange with your bitcoin. as simple as that  Wink

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August 11, 2018, 02:21:29 AM
 #24

If the US Dollar begins to fail rapidly people are going to jump to all different types of assets to take protection.  Crypto will get a huge run up from this.  So will gold and silver.  Fine art and other collectibles will also do well.  Stay diversified. 

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August 11, 2018, 06:34:02 AM
 #25

I think is the dollars 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 11, 2018, 06:46:59 AM
 #26

How does a decline U.S. Dollar can affect Crypto?

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?

I think Turkey sets the precedent for how a declining US dollar will affect crypto. In recent polls, Turkey was credited with having the highest crypto ownership per population size of any nation. Part of this is likely related to the lira (turkey's native currency) inflating at a rate greater than 10% per year. The more conscious people are of their native devaluing currency and high inflation, the more likely they are to invest in crypto currencies.

Paper money will always be more efficient and effective in some roles than electronic currency. Its easier to tip waiters, buy weed, sell goods in flea markets and garage sales and do other things using paper money than using electronic merchant services like credit cards or crypto. This efficiency and effectiveness translates to greater financial flexibility and versatility which ultimately translates to greater economic strength.

Eliminating paper money would be a mistake. It would kill jobs, make life harder for 2nd hand sellers and small businesses and have other negative financial and economic effects.

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August 11, 2018, 07:21:34 AM
 #27

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!
Who is even Robert Kiyosaki? I’ve never heard of him and I also don’t think he’s right. They keep saying all these cause it’s just a way for them to promote these stuffs and get people interested in cryptocurrency.

They are doing all these and forgetting about people who can never get a chance to know what crypto, that’s because they are doing all these out of selfishness and greediness.

If cryptocurrencies happen to take over and eliminate our main currencies, do you even think of those who don’t have access to the internet, those that are not educated and the poor ones in our communities, cause these ones won’t be able to use Bitcoin.

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August 11, 2018, 09:33:05 AM
 #28

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.
I believed you get the OP wrong because he was actually not talking about crypto currency replacing the US dollar and the US government wont even allow such thing to happen because that's the reason why they want to regulate and control crypto currency (Bitcoin).
Meanwhile, the OP was asking if the decline in the Dollars could affect crypto currency price which I believe it possible because it has happened before.

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August 11, 2018, 10:05:34 AM
 #29

Despite the fact that US dollar s the world most famous currency.it decline cannot affect the crypto currency market because it was not the only currency accepted by most crypto currency exchange site and US dollar and bitcoin are both developed on their own. Dollars was controlled by the US government while crypto currency was controlled by the crypto communities.

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August 11, 2018, 11:57:37 PM
 #30

Despite the fact that US dollar s the world most famous currency.it decline cannot affect the crypto currency market because it was not the only currency accepted by most crypto currency exchange site and US dollar and bitcoin are both developed on their own. Dollars was controlled by the US government while crypto currency was controlled by the crypto communities.
America has grown so much over the years. The fact that it has a lot of resources for economic development is too obvious. Adding to that is the new electronic money market being involved. That is too strong in the financial market. Stronger is stronger now. America is so great.

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August 12, 2018, 01:53:35 AM
 #31

If people get spooked by the dollar collapse (which is very real by the way) then I would say crypto and mainly Bitcoin will be receiving some of that inflow.  Other areas would be gold/silver and other hard assets. 
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August 12, 2018, 02:00:53 AM
 #32

maybe if the dollar weakens or has decreased, interest in buying cryptocurrency is low. this will have an impact on the small buying volume and the large selling volume so that the coin price will decrease.
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August 12, 2018, 02:03:43 AM
 #33

Although many factors can be analyzed to explain the recent price surge of bitcoin, the most evident factor is the decline in the value of US dollars. Previously, when both the mainstream and bitcoin media reported that the Chinese market controlled approximately 93% of the global bitcoin exchange market, analysts and investors closely looked at the development of the Chinese market and regulations. As such, events like the devaluation of the Chinese yuan or introduction of tightened policies such as the imposition of regulation on Wealth Management Products were perceived as major factors behind the increasing value of bitcoin.
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