Btc vs dollars

[Vickky Rae]

Presently, should we say it's good the way bitcoin its been tied to dollars? Dollars is not backed up with any resources but to my understanding, bitcoin is a product of great energy surge. We shouldn't let bitcoin tied to dollars but bitcoin standing on its own. What could decide the durability and value of bitcoin? I have some ideas..

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1714715931

[Gozie51]

What could decide the durability and value of bitcoin? I have some ideas..

So what are your ideas?

Meanwhile, nobody can tie bitcoin to any fiat currency. Bitcoin is independent from any government regulation as it is decentralized visual currency that is deflationary and halving occuring every 4  years keeps it demand more valuable.

[Majestic-milf]

Presently, should we say it's good the way bitcoin its been tied to dollars? Dollars is not backed up with any resources but to my understanding, bitcoin is a product of great energy surge. We shouldn't let bitcoin tied to dollars but bitcoin standing on its own. What could decide the durability and value of bitcoin? I have some ideas..

If Bitcoin were tied to the dollar, don't you think that they would have choked it with so much control and regulation? The reason the government feel threatened about it's existence is that due to its decentralized nature, transactions of users can't be monitored and this means they can't wake up one morning and dictate how you use your funds.
Bitcoin has proven that it can be used as a hedge against inflation but why is the Govt not adopting it? Yeah, I know, they lose total control and that's not something they want to give up easily so they stick with their views on Bitcoin being a means where thieves can perpetuate their shady dealings.
 

I have some ideas

Yeah, care to enlighten us?..

[Findingnemo]

Presently, should we say it's good the way bitcoin its been tied to dollars? Dollars is not backed up with any resources but to my understanding, bitcoin is a product of great energy surge. We shouldn't let bitcoin tied to dollars but bitcoin standing on its own. What could decide the durability and value of bitcoin? I have some ideas..

Bitcoin isn't backed by Dollar or any asset, its just people use it to get the value based on fiat.

The actual value of bitcoin lies on the demand and supply, just like gold and every other real asset whereas fiat doesn't hold any value but just a promise from your central banks that this paper holds the promised value.

[Sim_card]

Presently, should we say it's good the way bitcoin its been tied to dollars? Dollars is not backed up with any resources but to my understanding, bitcoin is a product of great energy surge. We shouldn't let bitcoin tied to dollars but bitcoin standing on its own. What could decide the durability and value of bitcoin? I have some ideas..

You got it all wrong mate, bitcoin can never be tied to a centralized system because it is a decentralized digital currency that is independent on any government control. Bitcoin is not like other cryptocurrency that is pegged with dollar, and this is the reason why the government was against it initially. It is demand and supply that controls bitcoin price.

[tabas]

Presently, should we say it's good the way bitcoin its been tied to dollars? Dollars is not backed up with any resources but to my understanding, bitcoin is a product of great energy surge. We shouldn't let bitcoin tied to dollars but bitcoin standing on its own.

While majority of the pair of it is based on the dollars. It doesn't mean that it's already tied on it, it's like the pricing of it has been with the US dollars but look at other markets, there's also the pricing of it that's been based on our fiat currencies. Nothing will change as bitcoin will still be bitcoin regardless of where people think is tied. And as for the USD, isn't it backed up by gold?

What could decide the durability and value of bitcoin?

The value of Bitcoin is determined by us, by our trust and by the cost of mining and don't forget about the law of supply and demand.

I have some ideas..

Let us know what you have in your mind.

[Charles-Tim]

We shouldn't let bitcoin tied to dollars but bitcoin standing on its own. What could decide the durability and value of bitcoin? I have some ideas..

If there is a king, but all the people in town perish, the king will lead who? No one. If there is bitcoin, but no fiat that their value is depreciating, what is going to be used to compare bitcoin. I really like that there are fiats to compare bitcoin with which makes the noise that bitcoin can be an investment, and also a store of value in long term.

[bayu7adi]

Indeed, Bitcoin's connection to the dollar is primarily for the purpose of exchange transactions, but internally, it has no inherent link. If you're referring to trading pairs on exchanges that allow BTC/USD as a reference point, that's still within the realm of reason, given that the dollar has been the predominant benchmark currency. However, does this mean Bitcoin is dependent on the USD? Certainly not. It's merely a measurement tool to make it easier for people to equate BTC with a tangible value.

Almost everyone is familiar with the Dollar, but relatively few are well-acquainted with BTC. That's why, to this day, BTC is projected to become an alternative currency that's more distinct than the dollar. Looking into the future, it's possible that BTC will have no connection to the dollar whatsoever.

[lombok]

Bitcoin is unique. Not connected to any fiat currency. Bitcoin exists as a replacement or shifter for the current centralized world financial system, Bitcoin comes with a decentralized system, has a fixed supply, a free nature that is not controlled by anyone except the Bitcoin owner himself. So here there is no connection at all between USD and Bitcoin, clearly Bitcoin is a new revolution for people who want freedom from the current financial system (fiat currency)

[Tony116]

Presently, should we say it's good the way bitcoin its been tied to dollars? Dollars is not backed up with any resources but to my understanding, bitcoin is a product of great energy surge. We shouldn't let bitcoin tied to dollars but bitcoin standing on its own. What could decide the durability and value of bitcoin? I have some ideas..

There is no tie between bitcoin and dollars. Essentially, the dollar is the world's currency and a measure of the value of almost every asset, including bitcoin. We only use dollars to measure the value of bitcoin, and that doesn't mean bitcoin depends on dollars. You can also use other currencies to measure the value of bitcoin without the need for dollars.

I understand what you mean that we should not use dollars to measure the value of bitcoin and that it should operate independently. That will only happen when bitcoin becomes the world's main currency, but I don't think governments will let that happen. Fiat will still be the world's main currency and measure of value, we cannot change that.

[Lida93]

Presently, should we say it's good the way bitcoin its been tied to dollars? Dollars is not backed up with any resources but to my understanding, bitcoin is a product of great energy surge. We shouldn't let bitcoin tied to dollars but bitcoin standing on its own. What could decide the durability and value of bitcoin?

There's no tie or even a peg, bitcoin stands alone as a decentralized digital currency for if there was any tie the government would have been  in control to determining bitcoin value. Like how do you tie something that's decentralized to a centralized thing, it doesn't make sense, right. Dollar is only paired with bitcoin to measure or compare to get the value and worth of bitcoin at every moment just as gold value is measured in dollars.

I have some ideas..

what are your ideas, I hope it makes brains.

[Lorence.xD]

Bitcoin is unique. Not connected to any fiat currency. Bitcoin exists as a replacement or shifter for the current centralized world financial system, Bitcoin comes with a decentralized system, has a fixed supply, a free nature that is not controlled by anyone except the Bitcoin owner himself. So here there is no connection at all between USD and Bitcoin, clearly Bitcoin is a new revolution for people who want freedom from the current financial system (fiat currency)

Exactly, it might look they are connected as we make transaction from BTC/USD in exchanges but they have no ties between each other. By just Bitcoin being decentralized itself, it and couldn't be controlled by any government, you can already concluded that BTC is impossible to have connections to USD. Only thing that government can do with Bitcoin is either legalized it for people to use it freely or will banned it if they think it would be a threat to their own currency or economy. Both might be affected by a certain issue and update causes for their value to lessen and increase but Bitcoin is more volatile and USD can be manipulated by the government so they are not the same thing but both is currency.

[Fuso.hp]

There are many differences between the dollar and bitcoin. Dollar is an international currency and Bitcoin is a digital currency. The value of the dollar remains the same no matter how much it is used, even if its use decreases completely, the value of the dollar will remain unchanged, but in the case of Bitcoin, the matter is a little different. The value of Bitcoin generally depends on the usage. The amount of bitcoin purchased from the market will increase the price of bitcoin and the amount of bitcoin sold in the market will reduce the price of bitcoin, its market value depends on its use. Bitcoin's gap with dollar is huge and demand and usage of dollar is much higher than bitcoin.

[kingvirtus09]

Presently, should we say it's good the way bitcoin its been tied to dollars? Dollars is not backed up with any resources but to my understanding, bitcoin is a product of great energy surge. We shouldn't let bitcoin tied to dollars but bitcoin standing on its own. What could decide the durability and value of bitcoin? I have some ideas..

Bitcoin and dollars are like positive and negative electricity, where they cannot move forward or down equally; they must always be opposite to each other. That's what happens in the market. When Bitcoin rises, there is a fall in the dollar.

And when there is an increase in the dollar, the value of Bitcoin falls, and to monitor that, that can that seen here at https://www.marketwatch.com/investing/index/dxy in short, they cannot be tied up in my own opinyon.

[rat03gopoh]

This is a common question in the community as they see these two currencies paired on all exchanges. You can freely tie bitcoins to any currency or goods, as long as you recognize its value. Remember that 10k bitcoins once cost 2 packages of pizza, and you can do that one more time.
But we already have a global standard value of bitcoin where people use references in various price trackers for their transactions.

[Mauser]

Presently, should we say it's good the way bitcoin its been tied to dollars? Dollars is not backed up with any resources but to my understanding, bitcoin is a product of great energy surge. We shouldn't let bitcoin tied to dollars but bitcoin standing on its own. What could decide the durability and value of bitcoin? I have some ideas..

Bitcoin is not directly tied to the US Dollar, it's just the most common pair currency being traded. If the two were tied together than you could exchange a fixed dollar amount for Bitcoin and the price wouldn't fluctuate so heavily. You can also trade bitcoin against any other currency. For example the Bitcoin/Euro market is also common and you can even find people willing to sell physical goods directly for Bitcoin. So, if you don't like the US Dollar and don't really own or use them yourself than just look at other currencies. And if you already have a lot of money in Dollars and you don't want more than just convert them into other cryptos or invest outside of the USA. The world is so connected these days that we can choose our exposure freely.

[flyingcarpet]

Presently, should we say it's good the way bitcoin its been tied to dollars? Dollars is not backed up with any resources but to my understanding, bitcoin is a product of great energy surge. We shouldn't let bitcoin tied to dollars but bitcoin standing on its own. What could decide the durability and value of bitcoin? I have some ideas..

I don't think Bitcoin is tied to any fiat currency. The fact that they cannot control Bitcoin and shape it the way they want also supports what I say. Supply and demand determines the value of Bitcoin. The increase or decrease in this price has nothing to do with fiat currencies.

In fact, this is what makes Bitcoin valuable. Just like gold or precious metals, price changes occur in line with supply and demand.

[Gaza13]

Yes, that is why countries ban these assets because energy consumption in any country is quite large. Bitcoin and the dollar are clearly different, they have nothing to do with each other, basically a superpower like the United States gives debt to every other country, at that time countries that were in debt started to become aware of the dollar.

Why does America's money never run out and creates big projects in its country. They worried that the United States would print money without a gold standard. In the end, the United States decided to exchange dollars for gold. However, it turns out that the superpower's gold reserves are not as large as the dollars lent to these countries. In 1971, the then US president decided that dollars could temporarily be printed without a gold standard. With this policy and ending with no gold reserves, there is a possibility that its value will continue to decline along with inflation. Why do the rich get richer, the poor get poorer

Was there a global elite family game behind President Nixon's decision?

This is where the big actors started with Satoshi who I think understands world financial flows. With extraordinary abilities above the average person, he is able to carry out transparent innovation, which as we know is Blockchain and does not want to be controlled by anyone. .

[Fiatless]

Presently, should we say it's good the way bitcoin its been tied to dollars? Dollars is not backed up with any resources but to my understanding, bitcoin is a product of great energy surge. We shouldn't let bitcoin tied to dollars but bitcoin standing on its own. What could decide the durability and value of bitcoin? I have some ideas..

The current world economy is highly dollarized. Almost all currencies in the world are tied to the dollar for them to be used in international trade. Although so many countries are trying to untie their currency from the dollar but it is very difficult because close to 70% of trade transaction is engaged with the dollar. Bitcoin value is usually estimated using the dollar because most goods and services are priced and traded in United States dollars. This situation doesn't mean that Bitcoin is tied to the dollar. Another problem is that bitcoin is still a new currency and is not popular in many countries. Many people might not understand the units or value of bitcoin except is associated with the dollar. But I assume that as Bitcoin becomes popular, it is likely that it can become dedollarised.

[Despairo]

It's why 1 BTC = 1 BTC, not 1 BTC = $34,000 or anything else.

If you view BTC in USD equivalent, you will not able to get rid from USD, while fiat will become worthless and banks will bankrupt. While Bitcoin is resistance against that since Bitcoin has own it's feature and you're don't rely with third party platform.