Bitcoins Us dollar evaluation might crush globally once euro replaces US dollar

[KingScorpio]

trend is unstoppable that euro will replace us dollar as no one will trust us dollar in the long term anymore

brits and americans are destroying their currencies.

once they have crushed and whole world starts thinking in euro and potentially yuan.

usdollar evaluation of bitcoin will be decreased massively as us dollar wont be easily changable with euros, which then will be the worlds lead currency.

plus.

americans will dump their currency once they started electing socialists and leftists.

the eurodominance is also a change in political climate globally.

regards

[LeGaulois]

Well, destroying USD was the plan when creating EUR.
EUR is taking about 2% yearly from the market, but at this rate, we need again maybe 20 years to get USD replaced. Unless something geo-politic happens, like US vs IRAN for example...

[kryptqnick]

trend is unstoppable that euro will replace us dollar as no one will trust us dollar in the long term anymore

brits and americans are destroying their currencies.

once they have crushed and whole world starts thinking in euro and potentially yuan.

usdollar evaluation of bitcoin will be decreased massively as us dollar wont be easily changable with euros, which then will be the worlds lead currency.

plus.

americans will dump their currency once they started electing socialists and leftists.

the eurodominance is also a change in political climate globally.

regards

Firstly, even if this happened, there wouldn't be much of a difference for the crypto market. It's just one stable powerful fiat being replaced by another one. Secondly, I don't think this is going to happen. I believe that fiat will soon crash and be abandoned for something else, like cryptocurrencies. Europe is not living through its best times. Right-wing populists are EU-sceptics, trying to ruin it from within. Moreover, it seems that Europe is short on money since they decided to opt for Russian fees over justice just recently in PACE. The world's economy is barely holding it, IMO, and no matter how bad things seem with the US, I believe that the things in the EU are worse.

[KingScorpio]

trend is unstoppable that euro will replace us dollar as no one will trust us dollar in the long term anymore

brits and americans are destroying their currencies.

once they have crushed and whole world starts thinking in euro and potentially yuan.

usdollar evaluation of bitcoin will be decreased massively as us dollar wont be easily changable with euros, which then will be the worlds lead currency.

plus.

americans will dump their currency once they started electing socialists and leftists.

the eurodominance is also a change in political climate globally.

regards

Firstly, even if this happened, there wouldn't be much of a difference for the crypto market. It's just one stable powerful fiat being replaced by another one. Secondly, I don't think this is going to happen. I believe that fiat will soon crash and be abandoned for something else, like cryptocurrencies. Europe is not living through its best times. Right-wing populists are EU-sceptics, trying to ruin it from within. Moreover, it seems that Europe is short on money since they decided to opt for Russian fees over justice just recently in PACE. The world's economy is barely holding it, IMO, and no matter how bad things seem with the US, I believe that the things in the EU are worse.

it would, if euro banking doesnt hast the gambling nature like usd banking, everything will be different.

[dothebeats]

Well, destroying USD was the plan when creating EUR.
EUR is taking about 2% yearly from the market, but at this rate, we need again maybe 20 years to get USD replaced. Unless something geo-politic happens, like US vs IRAN for example...

Or yet another massive trade war between Washington DC and Beijing. If that even intensifies, we would be seeing much more shit than we currently are, and can potentially lead to the destruction of US dollar in years time. It may not be evident as of now but it's costing US more money, given that imports from China, especially on the electronic side of things, is a huge thing for the Americans. Anyhow, EUR is really created to exist side-by-side with US and potentially overtake it in the future, so I would not be surprised if EUR really takes the global currency spot. But then again, EU is having domestic shits of its own right now.

[Lizzylove1]

I doubt that Euro will replace US dollar as the world reserve currency. Instead, Bitcoin might be the replacement. Although the US has been heaping up too much debt without paying, an analyst once postulated that the US dollars is technically backed by crude oil. Let's see how the economic war swing. I expect bitcoin to rise the more to meet the trade war.

[bitmover]

Eur might replace dollar only if in long term UE economy really does well. It will take years for that to happen  and I don't think they are in a good direction. Us economy is performing really well, just take a look at their stock market.

[timerland]

once they have crushed and whole world starts thinking in euro and potentially yuan.

Who knows. Maybe this will happen in the long term future, but I don't really think that this is something that is likely to happen even in the next decade. The influence of the US dollar is still very widespread, especially in foreign countries.

Also, even if Euros do overtake the US dollar as the world's dominant reserve currency, I doubt that it'll lessen the demand for USD by THAT much. Thus, it'll likely have less impact on BTC/USD prices as you expect, imho.

If we are talking about the long term, though, all fiats are trending in the same direction as their intrinsic value given the fact that they can be printed infinitely, theoretically. BTC's relative value to them should climb in the long run, as long as adoption levels climb as well, or even stay the same.

[CryptoBry]

Things are not going to be black and white on this area. Yes, there is a big possibility that the US Dollar will soon be losing its dominance or the prime currency for international commerce but there is nothing definite with the Euro as the same kind of weakness exhibited by the dollar can also be found on the former. I am seeing the trend where countries will be dealing with each other directly which is what China is doing right now. Aside from the Euro, the currency of China and even Russia are vying to be the top alternatives if there can be a vacuum left by the mighty-but-soon-to-be-a-mouse dollar. Now, the question is: Will the losing dominance of the dollar largely affect bitcoin? I don't think so as bitcoin is actually not dependent on the fiat money.

[jseverson]

Even if we assume that this happened and that the USD value tanks (which isn't necessarily a given), Bitcoin should still trade for the same general fiat value, maybe higher on USD and lower on EUR but still according to the two currency's exchange rate with each other. I don't see it affecting Bitcoin's value in any signifcant way, so why does it matter?

[Juggy777]

trend is unstoppable that euro will replace us dollar as no one will trust us dollar in the long term anymore

brits and americans are destroying their currencies.

once they have crushed and whole world starts thinking in euro and potentially yuan.

usdollar evaluation of bitcoin will be decreased massively as us dollar wont be easily changable with euros, which then will be the worlds lead currency.

plus.

americans will dump their currency once they started electing socialists and leftists.

the eurodominance is also a change in political climate globally.

regards

This is a speculative thought and it won’t happen anytime soon, unless Trump decides to immediately declare war on Iran. Even if the USD is replaced by euros there’s no major difference in the way we trade, at the end of the day both are globally accepted fiat. Also the EU is not strong these days and when Brexit will happen euros prices are bound to crash, don’t you think then people will buy more USD and dump euros.

[Pursuer]

your mistake is that you think US dollar is giving value to bitcoin! whereas just like anything else bitcoin has its own value measured only in fiat  currencies because that is what we use to measure literary everything else. so if US dollar were to crash, then bitcoin value against US dollar should rise up equal to the amount of the crash.
similarly when bitcoin is worth 1 in dollar and 10 in another fiat currency, if that fiat value tanks and has half its value then bitcoin should be 20 in that other currency. as an example you can look at the fiat currencies that tanked over the past year and how bitcoin went up against each of them.

[BitHodler]

Even if we assume that this happened and that the USD value tanks (which isn't necessarily a given), Bitcoin should still trade for the same general fiat value, maybe higher on USD and lower on EUR but still according to the two currency's exchange rate with each other. I don't see it affecting Bitcoin's value in any signifcant way, so why does it matter?

Right. We have seen the same happen when Bitfinex went through severe problems. People celebrated Bitcoin's value against Tether that started pumping, while the USD value didn't move at all.

People completely disregarded how efficient and self regulating this market really is. Bitcoin against Tether only pumped because it lost its peg to the USD negatively, and the same will happen in OPs example.

If anything, if the world reserve currency implodes, the Euro will be next. This will stimulate people to no longer calculate prices in fiat but in satoshi units. It's just a matter of logical thinking.

Also, I would say that in percentages it's much less than 1% of a chance that the USD will implode in the next 5-10 years, while it's more like 10% of a chance that the Euro will implode. It's much weaker and already very shaky.

[pixie85]

Euro is weak because it depends on many small economies. Where there's many members there are different opinions and arguments. Some countries perform better others worse some may even exit the union like GB. Euro will react to each and every small problem within the union.

Now it's gaining value but that won't last forever. There are better and worse years in the life of every company and every asset.

[BrewMaster]

Even if we assume that this happened and that the USD value tanks (which isn't necessarily a given), Bitcoin should still trade for the same general fiat value, maybe higher on USD and lower on EUR but still according to the two currency's exchange rate with each other. I don't see it affecting Bitcoin's value in any signifcant way, so why does it matter?

Right. We have seen the same happen when Bitfinex went through severe problems. People celebrated Bitcoin's value against Tether that started pumping, while the USD value didn't move at all.

People completely disregarded how efficient and self regulating this market really is. Bitcoin against Tether only pumped because it lost its peg to the USD negatively, and the same will happen in OPs example.

If anything, if the world reserve currency implodes, the Euro will be next. This will stimulate people to no longer calculate prices in fiat but in satoshi units. It's just a matter of logical thinking.

Also, I would say that in percentages it's much less than 1% of a chance that the USD will implode in the next 5-10 years, while it's more like 10% of a chance that the Euro will implode. It's much weaker and already very shaky.

true but we can't compare the two together. when Tether tanked and bitcoin value against it went up, nobody cared. the real "value" of bitcoin remained the same so it went up against USDT to keep the value same as before.

but if USD tanks the same thing will happen but also since it is a serious matter people will want to run away to assets that provide then security and aren't controlled by the same government that caused the crash. bitcoin becomes a shinning option which means there will be a lot of demand overnight shooting the price to the moon.

[fiulpro]

  I don't get how it will be any different for us.

Bitcoins in dollars and Bitcoins in euros will remain same regardless , it doesn't depend upon the dollars to be honest , it has its own price which is globally same in each Currency.
Therefore no matter how up or how down it goes it is going to be same regardless .

The only thing that will change is people checking the today's price or Bitcoin in probably euros but to he honest most already check in their native currencies.

[jseverson]

but if USD tanks the same thing will happen but also since it is a serious matter people will want to run away to assets that provide then security and aren't controlled by the same government that caused the crash. bitcoin becomes a shinning option which means there will be a lot of demand overnight shooting the price to the moon.

Fair assumption, but I would like to point out that we haven't seen this happen in any large scale yet. Even Venezuela's case, which is what most people typically point to, seems to be overblown:

So let me, as someone who used bitcoin to survive in Venezuela, clear up the misconceptions: Bitcoin can’t fix the situation in Venezuela.

There are no official statistics of how many crypto wallets there are in Venezuela. There’s no way to know how many each person owns. What it is very clear is that beyond a couple of businesses that accept this form of payment and a few trusted exchange platforms online, there are no services for crypto users available in the country.

No ATMs. No prepaid debit cards. Just assumptions.

I do expect an uptick in demand, but I'm not so sure about the price to the moon part.

[avikz]

trend is unstoppable that euro will replace us dollar as no one will trust us dollar in the long term anymore

brits and americans are destroying their currencies.

once they have crushed and whole world starts thinking in euro and potentially yuan.

usdollar evaluation of bitcoin will be decreased massively as us dollar wont be easily changable with euros, which then will be the worlds lead currency.

plus.

americans will dump their currency once they started electing socialists and leftists.

the eurodominance is also a change in political climate globally.

regards

The chance of happening it is really grim! I understand that EUR has become a great competition for USD since the day Eurozone decided to come together! I won't say that EUR doesn't have the power to overcome USD, because they really can do that! However, there will be no impact on the cryptos as such! Just the calculation parameter will be replaced while maintaining the same purchasing power! We are now calculating crypto prices on USD now which will just be replaced by EUR.

I think Trump has worsened the situation of USD by starting useless trade war with China. The world will probably would not give into the dominance of US anymore and that gives a great chance to Putin to increase the dominance of Russia with their allies! A lot more surprises will follow!

[Kakmakr]

I doubt that the US and the UK would ever allow that to happen. You underestimate the political power that these countries have and the military power backing them. Do you still remember the weak links in the last near global economic collapse? PIGS (Portugal, Ireland, Greece, and Spain) including Italy. 

The Eurozone has only survived due to massive government bailouts in the past and this is still a massive pressure cooker that might still explode in the future. 

[Lucius]

I do not think it will happen so soon that the euro will replace US dollar as a global currency, maybe in next 20-30 years from now, provided that the EU does not fail until then. USA is too strong, and I doubt they will lose power just like that, and with Brexit EU it just became even weaker than before. Not only do I think it is weak in some economic sense, but and in the sense of defending its borders from danger from the east.

All countries on the east EU border ask help from USA, which is funny since they should ask help from Brussels or Berlin, but they show how powerful EU is when Putin is picking which part of Ukraine he will take. Some say EU is so military weak that Russia can knock on Berlin's door (like in 1945) before any more serious resistance comes up.

Regardless of some data and speculations, EU is too weak to impose Euro in front of US $, and eurozone is a very fragile creature - just remember the Greek crisis.