Btc vs dollars

[BIT-BENDER]

Bitcoin will continue to be tied to fiat currencies for a long time. When I say that, I mean there will be USD/BTC pairings for a very long time, just as there will be CNY/BTC, GBP/BTC & so on. People still use fiat for every day things, get paid in fiat so until that changes we will still see people valuing bitcoin in their national currencies.
1 bitcoin = 1 bitcoin of course but normies don’t think this way. Bitcoin isn’t going to be THE only used global currency so get used to it.

I agree with you, it would not be easy to transition completely to only using Bitcoin. If it was within my powers I would love a world where Bitcoin is generally accepted but right now that's not the case.
Using BTC to explain the value of Bitcoin doesn't only apply to newbies or those not into crypto-currency but there are many Bitcoin enthusiast who has to check the value of Bitcoin by checking it's dollar worth.

[oktana]

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..

Who said Bitcoin is tied to dollar? Bitcoin is not tied to any currency and it operates fully on its own. We only tend to read the value in dollars since that is a currency that is more relatable to everyone. Dollar is backed by the government though and it works just fine, but the issue with inflation is unstoppable if dealing with dollar or any fiat because the government can print as many as needed, adding to what is already circulating, and hence, the loss in value. But with Bitcoin? It’s never crossing the 21 million total supply margin.

[Rasa nanas]

In my opinion the two are not tied together or related to each other. The reason is because both have different functions, people use dollars as a means of transaction or as storage of assets, on the other hand people use Bitcoin as a means of investment.
you say the dollar is not backed by any resources? as far as I know, most of the world's transactions currently use dollar.

[gunhell16]

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..

All I know is that when the price of the dollar goes down, the value of bitcoin will go up, and when the price of the dollar goes up in the market, the value of bitcoin will go down. As long as the movements of the two do not coincide, they are always opposed to each other.

Then the dollar is obviously under the control of the government, and Bitcoin is obviously not because it is decentralized. That's why, for 14 years, Bitcoin has not been able to be controlled by any country's government.

[STT]

I'd argue everything is superior to Dollars because it has its own use often unique and irreplaceable.  We can be sure Dollars will be replaced, will turn back to the cotton worth they were made out of with no numerical special worth placed on them.
   The reason we judge BTC in dollars is not for the notes of promise as if thats worth more but the governments that back Dollar, it is the global reserve currency until people decide differently.   I'm pretty sure people and so governments, countries will not hold dollar forever because it will become a burden more then a benefit at some point.  Since there is so much bad debt we can speculate sooner rather then later but people said this twenty years ago would be an event and we only increased debt further since then.

[philipma1957]

I'd argue everything is superior to Dollars because it has its own use often unique and irreplaceable.  We can be sure Dollars will be replaced, will turn back to the cotton worth they were made out of with no numerical special worth placed on them.

I would argue that dollars are backed with plenty of guns and soldiers that will take orders and if push comes to shove the dollar

would win over any virtual coin if the people with real power want the dollar to win.

[STT]

Dollars are backed in that sense but I do rate natural effects over the force of politics or armies and so on.   No doubt Dollar has backing (and many liabilities) or it'd not be current, the reasoning that USA is a global superpower is a large part of why Dollar is the global reserve currency.   But soldiers, the armies and equipment to arm them actively costs a massive burden to bear.  [this year its projected interest on debt outweighs the entire defense budget think I heard]

 Prior to Dollar it was Sterling as the most widely held by central banks of every country Im told and by no coincidence at that time the largest empire and trading exchange of goods was all done in Sterling the dominant currency at that time.  They both started off backed by gold and ended up as a much weaker standard.  Dollar will defeat itself is how I'd phrase it, I'm not expecting it to be a military thing.  Either they default on the debt or they honor the debt but destroy the currency either at that time or fairly soon after, thats what I expect.


  I cant see what takes over that standard, I dont agree especially BTC is set to take over from Dollar or gold or another nation;  SDR is the standard set by IMF as alternative to Dollar some would answer it will replace Dollar
https://en.wikipedia.org/wiki/Special_drawing_rights

CBDC I havent read about https://www.imf.org/en/Topics/fintech/central-bank-digital-currency/virtual-handbook

[Bitcoin_people]

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 a decentralized currency due to which no country's government can control it. But dollar or fiat currency has centralized owner to control it whereas Bitcoin does not. Moreover, Bitcoin has a fixed supply with no human hands and no scope of regulation, making it an independent currency. And for that reason there is no connection between USD and Bitcoin rather Bitcoin is a cryptocurrencies, but USD is a stable currency.

[DanWalker]

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 a decentralized currency due to which no country's government can control it. But dollar or fiat currency has centralized owner to control it whereas Bitcoin does not. Moreover, Bitcoin has a fixed supply with no human hands and no scope of regulation, making it an independent currency. And for that reason there is no connection between USD and Bitcoin rather Bitcoin is a cryptocurrencies, but USD is a stable currency.

There is a close connection between these two currencies: the value of bitcoin is measured in USD or other currencies. Although 1BTC=1BTC, we cannot deny that bitcoin is not the world's currency and USD is the world's currency, so everything must use USD to measure value, including bitcoin. As long as bitcoin does not become the world's main currency, bitcoin will still depend on USD and people will also use USD when trading bitcoin.

[Ben Barubal]

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..

Who said Bitcoin is tied to dollar? Bitcoin is not tied to any currency and it operates fully on its own. We only tend to read the value in dollars since that is a currency that is more relatable to everyone. Dollar is backed by the government though and it works just fine, but the issue with inflation is unstoppable if dealing with dollar or any fiat because the government can print as many as needed, adding to what is already circulating, and hence, the loss in value. But with Bitcoin? It’s never crossing the 21 million total supply margin.

  Bitcoin has never been tied up to fiat like the dollar. Because if that's true, Bitcoin won't be decentralized for sure. That's why Bitcoin is not like that; I don't know about other communities here, and I don't understand why Bitcoin is associated with the dollar.

  It's very simple: they are not related, but they have a connection with each other because the movement of their respective price values in the market is always opposite.

[josgandosbro]

Bitcoin is best one of the coin. Dollars now price increase slowly. But bitcoin price will be increased. This different of bitcoin and dollars. Bitcoin any where to use and easy exchange. Dollars also easy exchange. But bitcoin king of every one.

[Porfirii]

I have some ideas

Yeah, care to enlighten us?..

Taking into account that he/she hasn't answered since he/she created the OP, I think that we will be left with the doubt.

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.

Not necessarily. 1 BTC is 1 BTC; $34,000; €33,000; one Toyota C-HR... all of these at the same time. We value things in comparison to others since we started trading eggs for apples thousands of years ago. It's common in our circle the saying 1BTC is 1BTC, and while it is true, we shouldn't believe at face value all the other implications we tend to associate with it, like the one that states that it cannot be valued compared to other currencies.

[armanda90]

I disagree with your ideas about bitcoin tied with dollar or usdt as back up, its wrong assumptions because bitcoin have dependent currency without tied with any community or government such as dollar.

Bitcoin is a decentralized currency due to which no country's government can control it. But dollar or fiat currency has centralized owner to control it whereas Bitcoin does not. Moreover, Bitcoin has a fixed supply with no human hands and no scope of regulation, making it an independent currency. And for that reason there is no connection between USD and Bitcoin rather Bitcoin is a cryptocurrencies, but USD is a stable currency.

This special thing with bitcoin without controlling by any countries yet and keep dependent regarding with how many investors are holding bitcoin, talking about profitable bitcoin have more benefit than dollar who increasing values very slowly and depend their situation good or not. Right now many countries have against with dollar and some of them try to build up their own currency for foreign transactions where usually using dollar and right now they want use their own currency.

[siniminomorocomunisakito]

All of us here are probably familiar with this connection in our understanding of money when it all exists. Indeed, the correlation in the market is that if BTC goes up, the Dollar goes down and vice versa, but lately if the Dollar goes up, BTC also goes up, meaning there is a shift in the direction of investor capital.

[Inwestour]

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.

You can diversify your funds into different assets, this will be a smart step. But if we can consider Bitcoin as one of the types of assets, then the dollar is just a currency that cannot bring you profit if you keep your savings in dollars. But dollars will be useful to us in a bull market, when we need to take profits in order to wait for a bear market and buy Bitcoin again.

[South Park]

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.

You can diversify your funds into different assets, this will be a smart step. But if we can consider Bitcoin as one of the types of assets, then the dollar is just a currency that cannot bring you profit if you keep your savings in dollars. But dollars will be useful to us in a bull market, when we need to take profits in order to wait for a bear market and buy Bitcoin again.

Honestly that is the main function of stable coins, before they were created people had to take a difficult decision, to keep holding their bitcoin and absorb the incoming losses or sell for fiat and then send that money to their bank, but as soon as you did that your bank will begin to ask questions about how you got so much money and most likely they will close your account even if everything was done legally, so stable coins helped investors to skip that step, but it seems they may be forced to do this once again as governments seem determined to introduce their CBDCs and for their coins to succeed they need centralized stable coins to disappear.

[Samsungs10]

Bitcoin is best one of the coin. Dollars now price increase slowly. But bitcoin price will be increased. This different of bitcoin and dollars. Bitcoin any where to use and easy exchange. Dollars also easy exchange. But bitcoin king of every one.

just as good, but it is clear that bitcoin has advantages that the dollar does not have, but the price of the dollar is quite stable; even if there is an increase, it is not too much and very different from bitcoin, which is always easy to change at any time. But as a long-term investment, bitcoin is better than dollars. Although you are right that the dollar has increased, it is not significant.

[bettercrypto]

All of us here are probably familiar with this connection in our understanding of money when it all exists. Indeed, the correlation in the market is that if BTC goes up, the Dollar goes down and vice versa, but lately if the Dollar goes up, BTC also goes up, meaning there is a shift in the direction of investor capital.

I just want to add to what you said: it just happens that the direction of the dollar and the Dxy are the same when, for example, the value of the dollar is losing investors.

So what these investors do is transfer their capital from dollars to Bitcoin, and the same goes for bitcoin investors to dollars when they lose in Bitcoin investment. That's the logic I see there in that matter.

[icalical]

Presently, should we say it's good the way bitcoin its been tied to dollars?

I don't think Bitcoin is tied to dollar per-se, but USD is the most used currency around the world then most people exchange Bitcoin to USD, but as far as I know there is no direct connection between USD and Between, in term of price movement or any other mean. Other than that, not everyone use USD to value the Bitcoin price, people will (most of the time) use their local currency.

[shawonngp]

How Bitcoin tied to dollars no way. Both of individual currencies also their functions are different, Bitcoin is a virtual currency it's anonymous no one can control it But Dollars is controlled by government. We count Bitcoin by dollars that doesn't mean it's tied by any currency, it has own ecosystem it's not depend on dollars.