Fiat currencies

[buwaytress]

With America still America, it would have even been impossible for Euro to take over the USD even if they had not had this plan of England breaking out. The united states has held so much power that they will do everything possible to ensure that their usd does not loose relevance, and we see how they have tried everything possible to even make bitcoin usage impossible, but the only luck that bitcoin had and why they have not been successful is that bitcoin was built on a decentralized platform.

All these other fiat currencies are all operating through a centralized system, which makes it very easy for their government to manipulate their way and ensure that euro does not see the light of the day and it will even become very tight for euro now that there is cryptocurrency.

And funnily enough, all of that power and might is held in the throes of debt. Every time the US flexes, it reminds me of that kid from school who splashed his money around, looking glam and impressing the girls, and suddenly looking so cool and full of personality, helped on by the illusion of power (money).

And then all the while, his credit card's bank is happy with every swipe, cause they want to own him, his home, his land, his credit.

Now imagine who smiles every time Uncle Sam and the Fed splash out with them dollars.

And then, imagine why the worry when Bitcoin entered the scene.

[White Christmas]

My main question is what makes usd so dominant?

Simply because usd or united states dollar is the local currency of the America who is the number one country who have a good econmic growth, and also their economy is far beyond the others so that usd become so dominant among all of the local currencies. We can also see it when we converted bitcoin to usd it was alread established that this is the initial conversion of the OP so that would probably the main reason why usd is so dominant, this is all about the economic growth of the country.

[Triffin]

And why the euro value is higher then usd but USA dollar is still dominant, do you think that usd will be replaced by euro?


What's Ur take on that?

I don't see that being realized because dollar has already dominated in world wide trading activities. Even the countries that make up the euro currency, are trying to breakout and that might make the euro to drop if it happens. For instance, England with the brexit agenda is fighting seriously to go off from the euro currency.

No doubt dollar has been ruling the market for long and as it is the currency of present super power, we all can expect this. Euro being back-lashed by few countries will affect it badly. But dollar will not stay ruler forever. As the times are changing and technology is penetrating into every aspect of life, soon digital currencies will take over fiat and then bitcoin will become the new ruler of all.

[Wysi]

And why the euro value is higher then usd but USA dollar is still dominant, do you think that usd will be replaced by euro?


What's Ur take on that?

I don't see that being realized because dollar has already dominated in world wide trading activities. Even the countries that make up the euro currency, are trying to breakout and that might make the euro to drop if it happens. For instance, England with the brexit agenda is fighting seriously to go off from the euro currency.

No doubt dollar has been ruling the market for long and as it is the currency of present super power, we all can expect this. Euro being back-lashed by few countries will affect it badly. But dollar will not stay ruler forever. As the times are changing and technology is penetrating into every aspect of life, soon digital currencies will take over fiat and then bitcoin will become the new ruler of all.

Digital currency is definitely the future but when we say digital currency there are lot of options available and I feel if digital currency topples dollars then it would be an stable coin rather than bitcoin or other fluctuating altcoins as people will expect for stability. But bitcoin will always be preferred as the first choice if someone is looking for investment into crypto but when it comes to toppling fiat I don't think Bitcoin is equipped to do that.

[adzino]

No, why would USD replace EURO? I mean in what sense are you saying that US dollars might replace Euro? US dollar is already considered as the reserved currency of choice. It is more dominant because it is the most  stable and widely traded currency. Euro can become stable enough only when EU instead of being a hybrid system turns into true federation. Then EURO might end up taking over USD as a choice of reserve currency.

[panganib999]

Some say that dollar is weak and getting weaker.

But dollar is still strongest currency.

Look at the stable coins like : pax, usdc, usdt true usd and more...  They are pegged with usd.
But how many stable coins are for euro or other currencies? 

As people spreading rumours that dollar will  collapse and losing dominance, i see different.

My main question is what makes usd so dominant?

And why the euro value is higher then usd but USA dollar is still dominant, do you think that usd will be replaced by euro?


What's Ur take on that?

USD is a universal currency, wherever you go you can still use USD because it's convertible with different currencies due to the universal relationship of U.S to other countries even the most far away and centralized countries. If you're gonna compare it with languages, it's comparable with english, being understandable or if not, usable in terms of communicating for it was labeled as a universal language. I don't think really think euro can replace USD, the laters dominance is just too heavy to dethrone it easily.

[Eugenar]

The dollar has been dominant for nearly a hundred years due to the fact that the American economy has been strong and powerful for many years. But recently, the trend has changed to the side of the countries of Asia, their economies are developing rapidly and this fact puts the dollar at risk.

One of the reason why USD is dominant is because of the number of transaction that we have in exchange to USD. Plus, the adoption of people to USD as one of the major conversions from their own fiat currency. But in terms of bitcoin, there's a possibility that bitcoin dominance and other altcoins can still be on top when the theirmarket price grows enough and their volatility decreases. In this case, it could be adopted as the main currency for daily transactions.

[Edraket31]

The dollar has been dominant for nearly a hundred years due to the fact that the American economy has been strong and powerful for many years. But recently, the trend has changed to the side of the countries of Asia, their economies are developing rapidly and this fact puts the dollar at risk.

One of the reason why USD is dominant is because of the number of transaction that we have in exchange to USD. Plus, the adoption of people to USD as one of the major conversions from their own fiat currency. But in terms of bitcoin, there's a possibility that bitcoin dominance and other altcoins can still be on top when the theirmarket price grows enough and their volatility decreases. In this case, it could be adopted as the main currency for daily transactions.

Yes, besides USD is the currency that is widely used in international transactions, such as buying and selling of oil and other goods, remittance of money, and many more, so USD is really the considered global currency. But, let's see in the future, let's hope crypto could be considered too.

[meliodas]

The dollar has been dominant for nearly a hundred years due to the fact that the American economy has been strong and powerful for many years. But recently, the trend has changed to the side of the countries of Asia, their economies are developing rapidly and this fact puts the dollar at risk.

One of the reason why USD is dominant is because of the number of transaction that we have in exchange to USD. Plus, the adoption of people to USD as one of the major conversions from their own fiat currency. But in terms of bitcoin, there's a possibility that bitcoin dominance and other altcoins can still be on top when the theirmarket price grows enough and their volatility decreases. In this case, it could be adopted as the main currency for daily transactions.

Yes, besides USD is the currency that is widely used in international transactions, such as buying and selling of oil and other goods, remittance of money, and many more, so USD is really the considered global currency. But, let's see in the future, let's hope crypto could be considered too.

Cryptocurrency is already considered as an international currency. You can buy and sell some goods online and prefer to pay or receive cryptocurrency as a mode of payment. Cryptocurrency has no boundaries because of the decentralization so you can do what you want with the coins that you have. USD is slowly losing its consumers because little by little, they are transferring to crypto.

[el kaka22]

Euro doesn't need to take over dollar in the world, euro is only for Europe and they are doing fine with their own currency. That was the whole reason for it, when there was individual currencies for each nation there was a problem with dollar domination on all of them in exchanges, but now that they have euro, dollar can't really bother them anymore, not when they are doing business cross borders.

Anyone from Belgium could go to Netherlands for a weekend gateaway and doesn't need to change their money to something else. Sure, dollar is still the main money in third world countries and everywhere else other than Europe but when it comes to euro zone the money you need is euro and that is enough for them. There are tons of nations who are working to get into euro because of it.

[deisik]

My main question is what makes usd so dominant?

It is the strength of the economy that determines the strength of its currency

So if an economy is weak and failing, its currency cannot be strong by definition. In this frame of reference, it becomes glass clear why the dollar is still dominating the world. In simple terms, it is because the US, as a nation and country, massively dominates the world in almost any area of relevance and importance

Regarding why Euro is more expensive than the dollar, it is simply an accounting identity of sorts - there are more dollars in circulation that euros. So even if the purchasing power of one dollar can be lower than that of one euro, it doesn't mean that euro is a better currency than the US dollar

[Eugenar]

My main question is what makes usd so dominant?

Simply because usd or united states dollar is the local currency of the America who is the number one country who have a good econmic growth, and also their economy is far beyond the others so that usd become so dominant among all of the local currencies. We can also see it when we converted bitcoin to usd it was alread established that this is the initial conversion of the OP so that would probably the main reason why usd is so dominant, this is all about the economic growth of the country.

Most of the time, people utilize USD, in particular, in terms of cryptocurrency, what people want is a stable crypto which can be considered as conversion of fiat. In this case, dollar is the strongest because the conversion is directly from BTC to USD, unlike with other nation's fiat, there is no cryptocurrency that is directly convertible to their respective fiat currency. In return, stable coins with USD in equivalence is getting stronger in time, since there's not much choices that a user can choose from.

[HarmonyA]

Some say that dollar is weak and getting weaker.

But dollar is still strongest currency.

Look at the stable coins like : pax, usdc, usdt true usd and more...  They are pegged with usd.
But how many stable coins are for euro or other currencies?  

As people spreading rumours that dollar will  collapse and losing dominance, i see different.

My main question is what makes usd so dominant?

And why the euro value is higher then usd but USA dollar is still dominant, do you think that usd will be replaced by euro?


What's Ur take on that?

A worldwide currency is one that is acknowledged for exchange all through the world. That makes it the true worldwide currency, despite the fact that it doesn't hold an official title.
One third of the world's total national output originates from nations that peg their monetary forms to the dollar. In the foreign exchange market, the dollar rules. 

[khunyung]

Euro doesn't need to take over dollar in the world, euro is only for Europe and they are doing fine with their own currency. That was the whole reason for it, when there was individual currencies for each nation there was a problem with dollar domination on all of them in exchanges, but now that they have euro, dollar can't really bother them anymore, not when they are doing business cross borders.

Anyone from Belgium could go to Netherlands for a weekend gateaway and doesn't need to change their money to something else. Sure, dollar is still the main money in third world countries and everywhere else other than Europe but when it comes to euro zone the money you need is euro and that is enough for them. There are tons of nations who are working to get into euro because of it.

Totally agreed.
I'd add China in the list of countries who doesn't need USD that much.
Also China is self-sufficient state (mostly) so outer world doesn't really affect inner situation in the country.

[crossabdd]

USD is the US currency. which this country is a superpower, developed and has power over technology. most technology centers are there. and international currency is USD. and why the USD is weakening, because China has controlled the world economic market. In addition, the largest crypto in China and the Chinese government has built their crypto currency. while US refused crypto. this is one of the reasons the USD has begun to weaken.

[Vishnu.Reang]

USD is the US currency. which this country is a superpower, developed and has power over technology. most technology centers are there. and international currency is USD. and why the USD is weakening, because China has controlled the world economic market. In addition, the largest crypto in China and the Chinese government has built their crypto currency. while US refused crypto. this is one of the reasons the USD has begun to weaken.

Well.. I am not sure about it.. In my opinion, the United States Dollar is still the strongest fiat currency out there. The vast majority of the international trade is being conducted using USD. And the only currency which can offer meaningful competition to the USD is the Japanese Yen. Euro looks stronger in paper, but its purchasing power, as well as the exchange rate has gone down against the USD during the last few years.

[makolz26]

USD is the US currency. which this country is a superpower, developed and has power over technology. most technology centers are there. and international currency is USD. and why the USD is weakening, because China has controlled the world economic market. In addition, the largest crypto in China and the Chinese government has built their crypto currency. while US refused crypto. this is one of the reasons the USD has begun to weaken.

Just like Bitcoin as the king of cryptocurrency, USD is the king of fiat, despite the fact that China's economy is really rising these past few years over the US, still all countries are using the USD as their basis currency. Yes, China really would finally launch their own crypto, so let's watch out carefully how it will affect the market in Bitcoin.

[keeee]

My main question is what makes usd so dominant?

Simply because usd or united states dollar is the local currency of the America who is the number one country who have a good econmic growth, and also their economy is far beyond the others so that usd become so dominant among all of the local currencies. We can also see it when we converted bitcoin to usd it was alread established that this is the initial conversion of the OP so that would probably the main reason why usd is so dominant, this is all about the economic growth of the country.

I agree we can see how good the economy of united states.  America is one of the best country that we can say when it comes to economic growth.  They manage it well which the usd makes more stronger than euro.  Once a country know how to run a currency it will be valuable even other currencies have higher value.

[buyinbtc]

My main question is what makes usd so dominant?

Simply because usd or united states dollar is the local currency of the America who is the number one country who have a good econmic growth, and also their economy is far beyond the others so that usd become so dominant among all of the local currencies. We can also see it when we converted bitcoin to usd it was alread established that this is the initial conversion of the OP so that would probably the main reason why usd is so dominant, this is all about the economic growth of the country.

I agree we can see how good the economy of united states.  America is one of the best country that we can say when it comes to economic growth.  They manage it well which the usd makes more stronger than euro.  Once a country know how to run a currency it will be valuable even other currencies have higher value.

Well they are managing it well right now when there's seemingly no massive problem. However, we're literally on a bring of a new financial crisis that is going to be much stronger than the one that we had in 2008. Don't think that US will manage to withstand this one. Either we will see the complete government disappearance or some other country will become the superpower like China or Russia. Hopefully bitcoin will boom in those times too.

[avatar_kiyoshi]

USD is the US currency. which this country is a superpower, developed and has power over technology. most technology centers are there. and international currency is USD. and why the USD is weakening, because China has controlled the world economic market. In addition, the largest crypto in China and the Chinese government has built their crypto currency. while US refused crypto. this is one of the reasons the USD has begun to weaken.

Just like Bitcoin as the king of cryptocurrency, USD is the king of fiat, despite the fact that China's economy is really rising these past few years over the US, still all countries are using the USD as their basis currency. Yes, China really would finally launch their own crypto, so let's watch out carefully how it will affect the market in Bitcoin.

In other words, USD is Reserve Currency, that's why USD is the benchmark for currencies around the world. And in other words, Bitcoin is reserve cryptocurrency.
I'm not sure that the USD will continue to dominate, the rumor is that Trump is interested in gold and wants to make it as currency, most likely due to recent USD inflation, Trump is preparing plans for it.