btc value and currency inflations

[cryptoboss2020]

lets say usa dollar and all currencies will be highly devalued .....then how we know the btc value??

most traders use USDT so if something happens with usa dollar is my USDT Will be worthless over night?

[mindrust]

USD will never become worthless as long as there are still people who want to live in the US and I tell you, there are plenty.

At least not the physical USD notes. I am not sure about the banks though.

USDT is a lot different story...

BTC's value is whatever you believe it is.

Do you believe btc's value is $12k because some exchange tells you?

BTC's real value for you is the price that'd make you cash em all out.

Nothing else. From which price would you cash out? $100k? That means your price is $100k for a coin.

[int03h]

I think the value of the US dollars will be stable because they are highly liquid and are stockpiled by large nations and large corporations as assets. The dollar will depreciate but to the extent that it represents America's economy.
In addition to trading Bitcoin with the dollar, we also see trading Bitcoin with other currencies like Yen, Renminbi, Euro, British Pound ...
If the dollar loses its value, then the other currencies will help balance the value and the Bitcoin / Dollar will rise in value.

[The Cryptovator]

Are you talking about price or value? Both are different things, value depends on the community for bitcoin and price depend on the exchange rates. It's true if bitcoin loses price rapidly then the community would be regret, as a result, Bitcoin would lose its value. I don't think USD will be devalued, but if in case it happens, then Bitcoin value would reduce as well. Because eventually, we measure bitcoin price with USD. On the other hand, USDT will lose value at the same time. But not sure if its effect on USDT price. Overall I want to say, in the end, we need to cash out our bitcoin, so if fiat like USD loses its value then we can't expect a high value for Bitcoin as well, it's not a matter of price. When bitcoin's price increase against USD means USD losing price against bitcoin when Bitcoin dump hardly means Bitcoin losing price against USD.

[mk4]

How wouldn't you? If USD would drop down in value, then chances are, BTC's value will go up. And if you think if USD becomes worthless over night, then you're delusional as that's very very VERY unlikely to happen. The United States has a lot of control over the country through their official currency, so why would they give it up?

USDT being worthless over night on the other hand, is a different topic.

[Ucy]

Well, the value of fiat currencies are typically measured against prices of goods and services. If prices of goods and services in a particular country rise sharply it's most likely that its fiat currency lost it's value.. possibly due to inflation of the fiat currency or scarcity of goods/services . Stablecoin backed by the fiat currency will be affected if it really follows the price of the currency. 
This won't be the case with deflationary currency like Bitcoin.  As price of Bitcoin increases due to high demand, prices of goods and services become cheap and affordable for people who own bitcoins. This is why good deflationary currencies are better Store of Value than stablecoins.

[kryptqnick]

lets say usa dollar and all currencies will be highly devalued .....then how we know the btc value??

most traders use USDT so if something happens with usa dollar is my USDT Will be worthless over night?

While defining Bitcoin is relation to USD is what we often do, it doesn't mean that there won't be a way of defining the price and value of Bitcoin if it goes down. For one, if we decide to stick with fiat-Bitcoin pair, the price of BTC will simply be defined in EUR, Chinese Yuan or some other fiat. But another more important point I want to make is that Bitcoin as money should be defined by its purchasing power. So while it's simple to say that one Bitcoin is worth $10 thousand, what it really means is that certain goods and services worth $10k can be bought with 1 BTC. At least, that's how I think it's supposed to be, and that's how fiat currencies are evaluated (by their purchasing power), so why not do that with BTC as well.

[cryptoboss2020]

im asking just to want to be safe btc is not safe it can go up and down.
and exchangers stable coins most popular ones are USDT.

[Dsdaq]

Yes most people think the USD will be worthless or let me say the fiat but the truth is that it's not possible because we need the fiat to know the value of each crypto we hold especially the USD.

[cryptoboss2020]

Yes most people think the USD will be worthless or let me say the fiat but the truth is that it's not possible because we need the fiat to know the value of each crypto we hold especially the USD.

solution should we swich  to eur or other stable currenies?

[Dsdaq]

If you say we should switch to stable coins you are still talking about fiat currencies.

[mk4]

im asking just to want to be safe btc is not safe it can go up and down.
and exchangers stable coins most popular ones are USDT.

In contrast to popular belief, USDT isn't safe either. If anything, if you'd force me to choose where I'd store 100% of my wealth, I'd choose bitcoin instead of USDT. We don't even know if the USDT are backed by real dollars or not. At least with bitcoin, sure it's going to go up and down, but it's guaranteed to have some value and that I believe it's going to be more expensive in the far future.

[palle11]

Yes most people think the USD will be worthless or let me say the fiat but the truth is that it's not possible because we need the fiat to know the value of each crypto we hold especially the USD.

I don't think that USD has been under such attack but fiat in general. USD is not worthless, it is used for every buying anywhere in the world for trade. The cryptocurrency is coming as an alternative perhaps as it has been used.

[daarul50]

Here is let me tell you that bitcoin   can go standalone.
In case there is inflation occurred everywhere , you know 1 bitcoin could give you a value equal to 1 SUV car and then you traded it, between the dealer and the buyer both agreed the value of that 1 SUV car is =1 bitcoin , period.
So yes bitcoin value will not always bonded to fiat like usd or any other currency.
We never know what the future holds but you should believe there is a future for bitcoin.

[samcrypto]

lets say usa dollar and all currencies will be highly devalued .....then how we know the btc value??

most traders use USDT so if something happens with usa dollar is my USDT Will be worthless over night?

If all the fiat currency, devalued or goes deeper, we cant guarantee that bitcoin will go up because people are panicking and traders as well. It wont happen overnight and It is being predicted by the economist all you have to do is to keep yourself updated. Convert to gold as much as possible because there is no certainty in bitcoin and it’s very volatile and unpredictable, but if you’re a risk taker keep going.

[hatshepsut93]

lets say usa dollar and all currencies will be highly devalued .....then how we know the btc value??

Theoretically, Bitcoin should immediately rise, because it's not correlated with the US dollar and it has fixed supply, but on practice it might be delayed - maybe Bitcoin will be low on investor's priority list if a huge currency devaluation will happen.

most traders use USDT so if something happens with usa dollar is my USDT Will be worthless over night?

Yes, USDT will be as worthless as the US dollar, that's the point of a stablecoin, it's pegged to its currency.

[Poker Player]

And if you think if USD becomes worthless over night, then you're delusional as that's very very VERY unlikely to happen.

Of course, historical average annual inflation has been around 3% for many years. Even if the USD and other currencies are devalued a lot, and in fact this has been happening for many years, it will take a long time to become worthless. By then, there would be other ways to reference the purchasing power of bitcoin without referring it to the USD, as has historically been done with gold.

[bits4books]

USD will never become worthless as long as there are still people who want to live in the US and I tell you, there are plenty.

At least not the physical USD notes. I am not sure about the banks though.

USDT is a lot different story...

BTC's value is whatever you believe it is.

Do you believe btc's value is $12k because some exchange tells you?

BTC's real value for you is the price that'd make you cash em all out.

Nothing else. From which price would you cash out? $100k? That means your price is $100k for a coin.

So stop!
You say that
>Do you believe btc's value is $12k because some exchange tells you?
BTC's real value for you is the price that'd make you cash em all out.
Nothing else. From which price would you cash out? $100k? That means your price is $100k for a coin.
but this is absolutely not the case.

The "cost" of something is a measure that ANOTHER person is willing to pay for your product. In our situation, any cryptocurrency is still a commodity that we buy for dollars and then sell for the same dollars.
If you say "my 1 BTC is worth 100k dollars" it doesn't change the fact that everyone else is buying and selling BTC at 12K. And no one will agree to buy your 1BTC for this amount.
The price is set not by you but by the very demand that exists for this product. And there are many factors that also affect its price.
You can't just go to someone and say
- Hey hi I have a coin N and it costs 100k dollars. Buy it and you won't regret it!
And you will not be able to put forward any justification for this price other than your "I want so many dollars for my product"-and therefore for the same 100k no one will ever buy this product personally from you.

[bits4books]

Congratulations on disconnecting from the matrix!

this is really a very funny story - when people zealously advocate for cryptocurrencies, but they do it solely because any token (one way or another) can be exchanged for ordinary and such native dollars.
And here we get that even the best BTC in the world is not completely decentralized because the point of its concrete centralization because people measure it in dollars.
And why people will need cryptocurrencies if they do not have an adequate exchange equivalent and will not be able to correctly calculate the rate to conventionally accepted currencies no one even thinks and does not want to think.

People themselves have turned cryptocurrency into total speculations

[Johnyz]

lets say usa dollar and all currencies will be highly devalued .....then how we know the btc value??

most traders use USDT so if something happens with usa dollar is my USDT Will be worthless over night?

This is far from reality and there's no such dump over night, I don't read it on the price history of the whole market. There are times that we are suffering from the big inflation and as far as I remember, bitcoin created right after the financial crisis in 2018, and its purpose is to become the best option if crisis happen again. Now, most of the country enters into a recession yet bitcoin is still not that high, so the value really depends on the demand in the market and the value of bitcoin is unpredictable.