My question about bitcoins economical shift

[OpenCryptoSystem]

As we know due to high inflation economical situation is very unstable !

Now im if the dollar collapsing then how the bitcoin or other coins value will be calculated??

Lets say all the fiat money will be gone and crypto currency will be used how the bitcoin price will be calculatwd??
If the dollar is falling the USDT...virtual currency will be still the base currency for crypto?

[pawel7777]

...
Lets say all the fiat money will be gone and crypto currency will be used how the bitcoin price will be calculatwd??
If the dollar is falling the USDT...virtual currency will be still the base currency for crypto?

If crypto was to replace fiat money entirely (not gonna happen though) then you could expect similar picture as we have right now, just replace USD with BTC etc.

Traders/economists and alike would observe crypto/crypto pairs, while general population wouldn't care too much.

ps Take all the "Dollar is collapsing any minute now!" statements with a grain of salt.

[pavka]

Perhaps by the time the dollar loses its position, bitcoin will receive such quality as purchasing power. This will determine its value. Let's say for 1 bitcoin it will be possible to buy so much gold, or oil or land, and the like.

[CryptopreneurBrainboss]

Lets say all the fiat money will be gone and crypto currency will be used how the bitcoin price will be calculated??

Then there'll be no need for conversion, so no fiat price tag. It's due to the conversion from Crypto to fiat that the price tag get placed on bitcoin.
Example, satoshi will be used in place of the fiat currency.
Lets say you were to buy an iphone which cost $1000 but as fiat is no more to determine the price in usd, you can buy it (iPhone) for 0.151satoshi and no longer $1000 worth of bitcoin.
Bitcoin will take the place of USD and will be used to determine the price of altcoin

[OpenCryptoSystem]

Dollar is backed up with debt at least.
And debt is backed by humens as collateral to this debt.

So bitcoin is backed by faith?
And why cant be bitcoin price calculated with euro?

2 indicators bad things what going on in usa now is:

Credit freezing.
And trade war with china.

Nothing good for the dollar.

So if there no more good fiat currency to compare btc price and calculating then who will make that judgement with what the btc price will be calculated?
Are the bitcoin users ?


Cmon...guys im sure 100% few people here knows exacly how the bitcoin price will be calculated... as few people here have some special connections and special education background i would like to hear from them the answer.
Because current economic situation will change alot about cryptocurrency too.

Im sure in few days and we see huge usa stock market crash !!

So its good to be prepared and to stay safer side

[bob3772]

fiat isn't going to collapse very quickly even if it does. The major economies and governments have too much power right now to allow that. If/when it does happen then other things will just be priced against goods. Like gold used to be priced against everything like milk, eggs etc.

[OpenCryptoSystem]

fiat isn't going to collapse very quickly even if it does. The major economies and governments have too much power right now to allow that. If/when it does happen then other things will just be priced against goods. Like gold used to be priced against everything like milk, eggs etc.

Im sure gold is not as good payment method like bitcoin !!

Would you carry gold with you to go to shop to buy milk??

I dont think its logical !

I think btc will be rather then gold

[OpenCryptoSystem]

But if we look at the whole situation then its good for the bitcoin.
But then what?  Bitcoin will be usd ?
Ethereum will be  russian ruble ??
And ripple like Eur ?

So there is no place for other altcoins so they will be vanished they will be disapered.

[xcajun21]

I am not sure, but probably every market needs another entity to trade to and from.
For example, give stuff x, for stuff y.

Nothing opposes this idea i think, there were ads on different sites about buying with crypto. They just convert ur btc.

[OpenCryptoSystem]

I am not sure, but probably every market needs another entity to trade to and from.
For example, give stuff x, for stuff y.

Nothing opposes this idea i think, there were ads on different sites about buying with crypto. They just convert ur btc.

Okay, i was looking the countries wich has the higest debt.
Then i found out debt has something to do with inflation.

Japan has highest debt and suprise surprise why ?

Because they have printed too much money now the inflation is eating the money.

And japan have big bitcoin infrastructure of merchants.
Japan is allready bitcoin friendly country.

The next countries are the latin america where the bitcoin is wide used.

I was checking the global countries gbt and debt statistics... so.

In my opinion.  The japan currency will be first wich will devalue.

The second will be. Either usa or canada.

And surprice surprice.. you can allready use bitcoins in Usa and Canada. 

Both in Canada and usa have huge debt.
Canada money have high inflation also.

So people in canada are prepared to use bitcoins too.

The bitcoin as usual payment method in Europe and Uk are not so common.... so i guess uk and eu currency will survive little bit longer.

But canada and usa will fall down soon.

So i guess people in canada and usa will start using btc then.

[OpenCryptoSystem]

China fiat currency will become world strongest currency.

Im sure about this 100% since all goods trading the world depending on the china !!

How this will affect the bitcoin im not sure but some ways it will.

[Jaycee99]

As we know due to high inflation economical situation is very unstable !

Now im if the dollar collapsing then how the bitcoin or other coins value will be calculated??

Lets say all the fiat money will be gone and crypto currency will be used how the bitcoin price will be calculatwd??
If the dollar is falling the USDT...virtual currency will be still the base currency for crypto?

Maybe double the half because as I can see that bitcoin is very special and unique in its own way.

An altcoin/ cryptocurrency maybe connected to fiat but as far as I can see and experienced plus observed bitcoin/cryptocurrency is different from fiat currencies 

The price is the same (speaking about cryptocurrency) but it still depends on how the value speaks there are still speacific value to crypto/ altcoin that is the fact that I known and observed (to much observation, sorry I dont want to be known as a false information/ news.

[batang_bitcoin]

The dollar won't collapse easily, they will be low down due to inflation but it will survive just like the old days.

Bitcoin's price would still be depending to fiat money to determine the value of it and its likely that we just shifted from fiat to digital. As it depends to the USD value then it will be taken over and determined by another foreign currency.

[pooya87]

why do you think the way we talk about price of bitcoin should be any different than the way we talk about price of anything else? price is not "determined" if we say it is worth X dollar or if we say it is worth Y Euro or if we say it is worth Z cups of coffee.

and to answer your question about how to do it if USD, etc collapses i ask you how would you determine price of a cup of coffee in that scenario? answer than and you can use the same method to determine price of bitcoin.

[Anies_Sandi]

Perhaps by the time the dollar loses its position, bitcoin will receive such quality as purchasing power. This will determine its value. Let's say for 1 bitcoin it will be possible to buy so much gold, or oil or land, and the like.

no one can know the development of cryptocurrencies because it is one of the risks in investing with crypto currencies and the price or value of cryptocurrencies experience that movement because the investors themselves

[Juggy777]

As we know due to high inflation economical situation is very unstable !

Now im if the dollar collapsing then how the bitcoin or other coins value will be calculated??

Lets say all the fiat money will be gone and crypto currency will be used how the bitcoin price will be calculatwd??
If the dollar is falling the USDT...virtual currency will be still the base currency for crypto?

Hey economic situation was never really normal if you recollect the Great Depression, Bubble Crash or the Lehman brothers bankruptcy fiat never crumbled. I don't think under any scenario can dollar crash or become virtually inexistent as we literally base everything on dollars. If your hypothetical situation is examined it's very difficult to, fix a quantum way of pricing bitcoins as there's no currency to value it against.

[tanoe]

Do you already know how the fiat money we use is now calculated?

there may already be a concept for cryptocurrency (which I don't know yet), but even so, it still has to be approved by all countries.
there must be strong rules governing it.

[figmentofmyass]

Lets say all the fiat money will be gone and crypto currency will be used how the bitcoin price will be calculatwd??

the prices of everything else would be calculated in bitcoin. bitcoin's value would equal its purchasing power, just like we think of USD today.

If the dollar is falling the USDT...virtual currency will be still the base currency for crypto?

dollar collapse doesn't mean the collapse of all fiat currencies. people would just use the new global reserve that replaces the dollar---CNY, EUR, whatever. i assume that would be the primary base currency for BTC, and BTC would continue to be the base currency for altcoins.

[hugeblack]

We should not talk about that extreme scenario, but is the currency" USD, Bitcoin, gold" undervalued or overvalued?
There is a theory called purchasing power parity "PPP," which states that in two different areas, the cost of goods and services is the same. For example, the cost of buying a coffee is $ 5 and in a second country € 3 means that $ 5 is worth € 3 and so on.

Currency is a measure of its value and willingness to pay for it.
In the case of Bitcoin, the value in itself is zero either the willingness to pay is expressed by supply and demand.

[OpenCryptoSystem]

Many saing that when the usd will fall the btc can fall too.
But i guess it will be quick down fall for btc and then up again.


But the problem is btc is not backed up by nothing secure.

At least now btc is backed by fiat somehow...and fiat is backed by debt and people are the collateral for debt so.

Btc value comes from just because of limited coins??