Pricing in Dollar - Pricing in Bitcoin

[Silberman]

I'm pretty sure we all (or the majority) price Bitcoin in Dollars regardless of which
country we are in, I stand to be corrected on this though.

We are all certain that the Dollar and other FIAT are going to crash in the near future
or after we get to grips with this pandemic and financial aid ends. When this happens
we wont be pricing Bitcoin in Dollars.

What will we be using, Chinese Yuan?

or will we be pricing everything in Bitcoin?

Scales of measurement change all the time, fiat currencies are a way to measure value and if they fail in their mission then we will use something else, I think there is a possibility that we will begin to measure value directly in bitcoin, this is not as crazy as it sounds, there was a time in which money was measured in terms of gold and how much of it was behind it so we may get to that point in which we do the same with bitcoin as unlikely as it may seem now.

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[zanezane]

Why do we want to crash fiat in the first place? I always see this kind of posts and it came to a point that I don't know anymore why do we want it to crash. Don't you have any conscience that when a crash happens, people will be losing their jobs and a lot of people will be starving, society that has fiat ingrained in its core will spiral into chaos and no amount of bitcoin will save you if this things happen, it will take a year to recover if there is no war that will follow after the crash and that is wishing that it won't happen but we all know that it will happen. Shouldn't coexistence a better option for everyone, no crashes needed and the growth of bitcoin is secured because there is no unrest because there is no crash.

[Shasha80]

I also see Bitcoin prices in US Dollars, even though I am not an American citizen. This is probably because most of the popular exchanges use
fiat US Dollars to find out the price of Bitcoin. Therefore I am used to seeing the price of Bitcoin in US Dollars, I only see it in my country's fiat
when I cash out. Even though fiat may crash due to the COVID-19 pandemic, I believe the Bitcoin price will still be viewed in US Dollars.
Because it must be admitted that the US Dollar is the strongest fiat for now and US Dollar is the most widely used in international transactions.

[so98nn]

I think I am on a node where it does not matter if you value it in USD or INR, or Yuan etcetera. Thanks to the international harmonisation of prices where you get to see instant/live conversions to each and every currency available throughout the globe. I think this math applies to the bitcoin and rest of the currency as well. As matter of fact bitcoin's value does not come from the USD behaviour alone!

It's all about investments. It would not matter if USA falls behind in the valuation. What if the Indian billionaire becomes a whale or what if japanese institution starts to invest into bitcoin? It will still maintain the balance in crypto and its value. The USD would be just unit to understand its valuer really. 

[aoluain]

Why do we want to crash fiat in the first place? I always see this kind of posts and it came to a point that I don't know anymore why do we want it to crash. Don't you have any conscience that when a crash happens, people will be losing their jobs and a lot of people will be starving, society that has fiat ingrained in its core will spiral into chaos and no amount of bitcoin will save you if this things happen, it will take a year to recover if there is no war that will follow after the crash and that is wishing that it won't happen but we all know that it will happen. Shouldn't coexistence a better option for everyone, no crashes needed and the growth of bitcoin is secured because there is no unrest because there is no crash.

Check my posts, where do I say "I want the Dollar to crash"? (HINT: I didnt say it)

The global economic stimiuli to the pandemic sees mass printing of FIAT this will
lead to hyperinflation so the value of a Dollar and FIAT in general will crash.
This is just a result of printing trillions, not the main intention.

For fiat collapse, it won't affect major currency like USdollar because they understand the control system.

What control system is that? raising taxes?

-snip-

In the foreseeable future, the USD is still going to be the dominant global reserve currency and the default unit of account for financial assets.

But the CNY is going to be posing a real formidable threat. With the launch of the digital CNY, this process has accelerated. I suggest that you take a glance at Ray Dalio's piece on the CNY potentially becoming a global reserve currency - he essentially predicted that it would be a matter of time.

BTC will and is already a unit of account for a particular niche of people, but until the fiat system implodes ultimately, this is not going to occur on a widespread scale.

The Chinese ecomony is only #2 compared to the US economy. From the correction/crash
I think the gap will close between the two but by how much is anyones guess.

Im trying to get my head around valuing anything in Bitcoin or Satoshi.

[Silberman]

Why do we want to crash fiat in the first place? I always see this kind of posts and it came to a point that I don't know anymore why do we want it to crash. Don't you have any conscience that when a crash happens, people will be losing their jobs and a lot of people will be starving, society that has fiat ingrained in its core will spiral into chaos and no amount of bitcoin will save you if this things happen, it will take a year to recover if there is no war that will follow after the crash and that is wishing that it won't happen but we all know that it will happen. Shouldn't coexistence a better option for everyone, no crashes needed and the growth of bitcoin is secured because there is no unrest because there is no crash.

It is not that we want it, it is just that it is inevitable at this point, fiat currencies as we know are backed by nothing and are accepted as legal tender because people believe the government knows what they are doing, but it turns out that due to the pandemic they printed a lot of fiat and this is going to cause inflation down the line, debts have increased massively and income from taxes has gone down, basically governments are in a terrible position that cannot be fixed except with a crash, and whether this happens sooner or later you need to be prepared in order to avoid the awful effects that we know are coming.

[TheUltraElite]

Countries where USD may not be used for pricing of bitcoin already exist. Countries where bitcoin transactions are commonly done without their governments cracking down dont give the price in Dollars. Using any of the fiat currencies to value bitcoin, does not make a difference to me, the end value is the same whether the fiat currency is inflating or deflating.

The numerical values might vary but we prefer simple numbers to keep and hence USD is better to me, might be different for you.

I think even Dollar or any fiat crash, the Bitcoin still paired with them since our real payment transaction still use fiat of course.
But maybe XAU(Gold) be nice to be paired with Bitcoin. You can invest gold by Bitcoin or invest bitcoin by Gold, isnt it good?

It sounds good but in real life have you even bought or sold gold/bitcoin against one another? The valuation still ends up in fiat. The only possible alternative was one project I had encountered in this forum called Xaurum but seems to be called "Dogshit" by its holders now - https://bitcointalk.org/index.php?topic=3110765.360

Yet to see better projects in this relation though.

[semobo]

I am sure that still the value will be calculated in USD over any other fiat currencies and I don't think USD will be facing Hyperinflation for the next 5 to 10 years. What if we completely moved to bitcoin and cryptos the value will be calculated in?

[MiningBattalion]

I am sure that still the value will be calculated in USD over any other fiat currencies and I don't think USD will be facing Hyperinflation for the next 5 to 10 years. What if we completely moved to bitcoin and cryptos the value will be calculated in?

Bitcoin was the first cryptocurrency to successfully record transactions on a secure, decentralized blockchain-based network. Launched in early 2009 by its pseudonymous creator Satoshi Nakamoto, Bitcoin is the largest cryptocurrency measured by market capitalization and amount of data stored on its blockchain. The Bitcoin software is free and available online to anyone who wants to run a Bitcoin node and store their own copy of the Bitcoin blockchain.Bitcoin was the first cryptocurrency to successfully record transactions on a secure, decentralized blockchain-based network. Launched in early 2009 by its pseudonymous creator Satoshi Nakamoto, Bitcoin is the largest cryptocurrency measured by market capitalization and amount of data stored on its blockchain. The Bitcoin software is free and available online to anyone who wants to run a Bitcoin node and store their own copy of the Bitcoin blockchain.

[wxa7115]

I'm pretty sure we all (or the majority) price Bitcoin in Dollars regardless of which
country we are in, I stand to be corrected on this though.

We are all certain that the Dollar and other FIAT are going to crash in the near future
or after we get to grips with this pandemic and financial aid ends. When this happens
we wont be pricing Bitcoin in Dollars.

What will we be using, Chinese Yuan?

or will we be pricing everything in Bitcoin?

I think it is likely that the dollar will survive as a currency but it is going to lose so much value that people are going to lose any confidence they have in it and it will be impossible to conduct any kind of international trade with it, one solution central banks are thinking about is to create a basket of currencies in which the dollar will be included and then use that currency for international trade.

I really think that is the most likely scenario as I am sure that even under those circumstances governments will resist backing their fiat currencies with precious metals or recognize bitcoin as a currency from which they can conduct their trades.

[shoreno]

What will we be using, Chinese Yuan?

but did this currency not included in the crash ? you said dollar and other currency are going to crash but if all of them did , all whats left to us is crypto and the main measurement of a crypto is in btc so your right that everything are going to be priced in btc .

 it sounds scarry but exciting at the same time because finally btc is now going to be recognized as the main currency but they just wanna make sure that they price every thing fairly .

[Lorence.xD]

but did this currency not included in the crash ? you said dollar and other currency are going to crash but if all of them did , all whats left to us is crypto and the main measurement of a crypto is in btc so your right that everything are going to be priced in btc .

 it sounds scarry but exciting at the same time because finally btc is now going to be recognized as the main currency but they just wanna make sure that they price every thing fairly .

Got 'em. To be fair, I think OP must be excluding Yuan because Chinese economy is a pretty inclusive one unlike USD which is widely used by many countries to help their economy grow. I don't want a crash really, now that I think about it, if there was a crash and I was the only one that is going to be safe from that crash, I will be the target for the many and some of them might steal from me or ask for my help and I don't want that kind of responsibility. If bitcoin is going to be recognized as a currency then it means that bitcoin should be able to circulate to the economy at the same pace as fiat and that bitcoin is able to be distributed towards the workers all over the world.

[zanezane]

~

It is not that we want it, it is just that it is inevitable at this point, fiat currencies as we know are backed by nothing and are accepted as legal tender because people believe the government knows what they are doing, but it turns out that due to the pandemic they printed a lot of fiat and this is going to cause inflation down the line, debts have increased massively and income from taxes has gone down, basically governments are in a terrible position that cannot be fixed except with a crash, and whether this happens sooner or later you need to be prepared in order to avoid the awful effects that we know are coming.

Who says that it is inevitable that it is going to crash? I know that people for a long time has been speculating that fiat will crash but to actively says that it will doesn't help with preventing a crash because if the people are loud enough about their opinions no matter how bad it is, the mentality that it cultivates will grow and it is a deadly precedent for something bad to really happen. Maybe you are all right about the crash will happen because people have been printing but what can we do? The people are ignorant and they do not want to tax the rich people so the money stays in their realm, if people were to move right now as what is intended a long time ago, I think that a crash can be prevented.

[Ausgewielt]

I don't think that Dollar can easily crash, many countries still use dollar as reserve currency. But if it happen it seems that the currency of the most stable country will become the best choice for this. Likely many countries see USA as the strongest country so there are many countries use Dollar as reserve currency. Sentiments can also affect fiat price. I personally prefer like to pricing everything in gold because it is more stable, but bitcoin is still my favorite type of investment.

[ultrloa]

Most of the country use the dollar value when they are doing a transaction overseas so its nonsense to think about it crashing since by now dollars still the strongest currency, maybe for now their economy are struggling but remember we are talking about USA here and they can easily bounce back once everything is in good state. America have strong economic leaders so maybe we cannot see any of it overcomes especially bitcoin since many wouldn't like to happen especially the banking system.

[ivankoh]

Why does Bitcoin value the majority in the Dola?  because the dollar remains a valuable currency and becomes the world's most popular fiat currency.  Even exchange pairs are priced according to that standard but instead of dollars it will be in USDT.  In my opinion, fiat remains a very important component and the foreseeable future will not be replaced.  So, by default, when you live, bitcoin will be priced in that country's independent currency.  Even gold, diamond, oil will be the same.

[el kaka22]

Most of the country use the dollar value when they are doing a transaction overseas so its nonsense to think about it crashing since by now dollars still the strongest currency, maybe for now their economy are struggling but remember we are talking about USA here and they can easily bounce back once everything is in good state. America have strong economic leaders so maybe we cannot see any of it overcomes especially bitcoin since many wouldn't like to happen especially the banking system.

Most of which country? I do not think that European nations use dollars when they are doing any international business, they have euro and its quite strong, and neither does England neither, their Pound is quite strong as well, I do think that USA uses dollars a lot, and other third world nations does use it, and China uses it as well I think when they are taking money from Americans, but aside from that USD is not strong at all, not like it used to anyway, people try to use other currencies, even bitcoin "grew" faster than dollars if you look at how much it was used and how much it is used now.

That is why I think pricing in bitcoin could be a better idea, after all dollars will not make you more profit but having bitcoin could mean that you could have more money in the long run. That is why picking bitcoin over USD has always been my favorite.

[fullhdpixel]

We are all certain that the Dollar and other FIAT are going to crash in the near future
or after we get to grips with this pandemic and financial aid ends. When this happens
we wont be pricing Bitcoin in Dollars.

What will we be using, Chinese Yuan?

or will we be pricing everything in Bitcoin?

Yes where I live we price Bitcoin in dollars, though there is how they really calculate it; first of all of you’re selling it P2P they will ask you how much the coins you’re selling is worth in dollars, and let’s say for example the coins are worth $100, they will then tell you how much they are buying or selling in dollars per our currency, and if you agree to the rate per dollar, then they will do business with you. That’s how it works.

I don’t know how you put it your own country, but that’s how we do it here, we don’t price with any other currencies. And as for what you have said about fiat crashing in future, I don’t think anything as such will happen to the extent that fiats will stop existing.

[Sterbens]

Rely on Yuan just because China is already a country to count on? I'm not sure because there are still many countries that don't like Yuan. In fact, the rule may even apply to countries that have surrendered to China. and were forced to use Yuan if they still wanted to lend to improve the country's economy. Debt has a significant impact because it is bound by Yuan. while bitcoin we still have which is not trapped by Yuan.

[RealMalatesta]

We are all certain that the Dollar and other FIAT are going to crash in the near future
or after we get to grips with this pandemic and financial aid ends. When this happens
we wont be pricing Bitcoin in Dollars.

I really do not think that pricing in anything could be that bad as long as it is executed well enough, there is really no worry about what you would be doing because we are in a world where people are making a profit from these deals and they may want to deal with USD because they want to have a lot more money, and that's totally understandable, I wouldn't be against it at any time, and that means we could also understand people who want to price in bitcoin because they want to own more and more bitcoin as well for their future.

Long story short there is nothing wrong, you could go with fiat, you could go with bitcoin, you could go with gold, you could pick a stock and go with that, hell there was a person who calculated bitcoin against a tesla car, not for any special reason but just to check how bitcoin was going basically. So there is nothing wrong as long as you use it properly.