Btc vs dollars

[Raflesia]

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.

In the current situation we must also remember the initial context that the creation of bitcoin today is not to replace existing currencies but only to become an option so why do we continue to argue for bitcoin to become the main currency and will become a global currency because in the end something like that will not be the goal of bitcoin itself. Indeed it would be great if they continue to be known because with that there will certainly be great benefits for us as bitcoin users but on the other hand back again the purpose of creating bitcoin is only as an option why impose this should be the main currency as a legal tender.
Now I am quite comfortable being in bitcoin even though I am still doing it for my long-term investment but on the other hand we will also not be able to leave fiat even though there are many shortcomings in fiat but in the end we are also still shackled to a situation where fiat can be used for everyday life.
Not that I am defending fiat here, it's just that we are still dependent on fiat even though we are already in bitcoin.

[1715360458]

1715360458

[Negotiation]

Fiat currency is needed in daily life because bitcoin is still not legalized in many places. But there are many differences between bitcoin and dollar. Dollar is controlled by government like fiat currency but bitcoin is decentralized no central government can control it. In that case it is foolish to attach it to the dollar. Bitcoin moves at its own pace the higher the demand and supply the higher the value of bitcoin. Bitcoin is so popular for its fundamental impermanence that every investor holds it for the long term as its value rises and falls. Its value will be doubled on the basis of rising and falling.

[btc78]

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.

both currency, usd or crypto, aren’t backed up by anything they can stand on its own with the potential of their value changing

it’s been observed that bitcoin and usd are negatively related usd is just used to convert btc into fiat

[coupable]

In an answer I wrote a few days ago as a comment on one of the topics, I referred to the Lebanese crisis, which provides an example of the difference between fiat money and Bitcoin. What has been happening in Lebanon during recent two years is somewhat funny. The crisis began when the dollar exchange rate on the black market rose by a large percentage compared to the price in banks. This forced all people to request dollar withdrawals from banks. Since the banks, of course, did not have enough dollars, they resorted to the government, which decided that no citizen could withdraw more than $200 or perhaps less (I no longer remember). What did some people do? He bought a toy gun, stormed the bank, and asked to withdraw its entire balance. Imagine that someone commits a robbery to steal his money.

[Marvell1]

Fiat currency is needed in daily life because bitcoin is still not legalized in many places. But there are many differences between bitcoin and dollar. Dollar is controlled by government like fiat currency but bitcoin is decentralized no central government can control it. In that case it is foolish to attach it to the dollar. Bitcoin moves at its own pace the higher the demand and supply the higher the value of bitcoin. Bitcoin is so popular for its fundamental impermanence that every investor holds it for the long term as its value rises and falls. Its value will be doubled on the basis of rising and falling.

I think you're misunderstanding what the OP said, and as I understand it his point is why can't bitcoin be used completely independently and why do we have to peg the value of bitcoin to USD or other currencies? USD is the world's currency, a measure of the value of all goods and assets in the world. Meanwhile, bitcoin is only considered an asset and no country recognizes it as a currency. Therefore, for it to operate independently and not use USD to measure value is impossible. Even if the USD collapses, there will be another country's currency to replace it, and I never thought of a scenario where bitcoin would serve as the world's main currency and measure of value.

[Ricardo11]

Bitcoin and dollar are completely different. Dollar is centralized and Bitcoin is decentralized. Bitcoin has a fixed supply limit, and Bitcoin is still banned in many countries. There is no connection between bitcoin and dollar they are completely separate. Dollar centered it is controlled by the central government. So attaching Bitcoin to the dollar is completely stupid.

[DrBeer]

As much as we would like to see Bitcoin replace the Dollar, until Bitcoin is accepted as a legal means of payment, it will remain a speculative asset more suitable for risky investments. Well, the issue of volatility, which is a consequence of the speculative nature of cryptocurrencies, will hinder the possibility of their everyday use in real life, and short-term savings by ordinary consumers.

[southerngentuk]

I think these two currencies may be related. Bitcoin can be considered a kind of "competition" to the US dollar. If Bitcoin becomes more popular, it could threaten the US dollar's position as a global currency.

Regarding the US dollar not being backed by any resources, this is literally true. The dollar is not backed by gold or any other physical asset. The value of the dollar is based on people's faith in it. Of course, this factor does not guarantee that the dollar will always retain its value. However, they have helped the dollar maintain its position as a global currency for decades.

[philipma1957]

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..

So btc stands on its own means to me how many kwatts makes a Btc.

So at 20 watt a th a machine makes 0.00000203 btc per th daily

so  if you value btc at watts.

0.00000203 btc = 20 watts
0.00002030 btc = 200 watts
0.00020300 btc = 2000 watts
0.00203000 btc = 20000 watts
0.02030000 btc = 200000 watts or 200kwatts
0.20300000 btc = 2,000,000 watts or 2 megawatts

Final number I rounded
1.0 btc =  10,000,000 watts or 10 megawatts

to make a btc thats an energy measurement for btc today which will change over time.

[mirakal]

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 so it cannot be tied to any centralized currency. But in order for bitcoin to get legalized and attract faster adoption, it should create a connection to dollar since bitcoin is designed to be used as a daily currency, if not the official currency, then it will act as a reserve currency from any official currency like euro or dollar. However, if that happens, I don't think bitcoin will still remain as a fully decentralized currency.

Bitcoin and dollar are two different currencies, one has its physical form of money while bitcoin is digital, and should only be accessed through online. But if they can be tied to one another for bitcoin's greater advantage and faster adoption, then it's never a loss for bitcoin as well.

[alastantiger]

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 needs to be tied to something.
There needs to be something backing it.  That's how you know what is valuable from what is not.

[EarnOnVictor]

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 needs to be tied to something.
There needs to be something backing it.  That's how you know what is valuable from what is not.

Hehehe...@Vickky Rae is just an example of people who are bereaved of economic understanding but still forcing themselves into that field. My question is why this naivety?

You should have also corrected him instead of just replying to the backing or no backing. Contrary to all that he said in case you also do not know, the USD is backed by the Federal Reserve and in turn backed by the US economy, and since it's mostly used as the world reserve, it's also invariably backed by the world economy. But Bitcoin is backed by nothing, except that people's deposits make it valuable.

And point blank, Bitcoin has no say in an economy, so it can't stand on its own, only a legal tender can do that, nonetheless, Bitcoin can't go round even if countries decide to legalize it. Mind you guys, Bitcoin/USD has really helped it to be most accessible to people, not otherwise, and Bitcoin will always have to be paired with currencies/fiats for it to be exchangeable locally and in cross-border transactions and payments.

[bestcoins1]

I think these two currencies may be related. Bitcoin can be considered a kind of "competition" to the US dollar. If Bitcoin becomes more popular, it could threaten the US dollar's position as a global currency.

In what way do you say the two could be related? Meanwhile, Bitcoin is always different from any fiat in the world, including the US dollar. And talking about competition in terms of economics or currency, almost all currencies in the world are always competing with other currencies so that each of them has no connection whatsoever even though they all circulate within the economic scope of their respective countries and in the global scope is also the same.

Regarding the US dollar not being backed by any resources, this is literally true. The dollar is not backed by gold or any other physical asset. The value of the dollar is based on people's faith in it. Of course, this factor does not guarantee that the dollar will always retain its value. However, they have helped the dollar maintain its position as a global currency for decades.

This is true, but apart from the dollar there are also many other currencies that are still trusted by the public, although not globally. This means that these other currencies are the currencies of each country they live in, while Bitcoin has also been trusted by many people as a digital currency that is very good and powerful enough to continue to be used as an investment in everyone's future.

So Bitcoin has become a very real rival to all national currencies at the moment and it is likely that it will continue to do so in the future because as the number of people who believe in Bitcoin continues to increase, it will make the use of fiat currency become less because Everyone can rely on Bitcoin in any sector of their life.

[Xampeuu]

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 needs to be tied to something.
There needs to be something backing it.  That's how you know what is valuable from what is not.

Comparators can benchmark the value of Bitcoin, especially against a currency that has become a standard for the whole world. Therefore, during a bearish season, we can see a decline in the value of Bitcoin against the dollar, and vice versa. Therefore, it is difficult to deny that the final reference is the dollar after we make a profit from Bitcoin activities

[philipma1957]

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 needs to be tied to something.
There needs to be something backing it.  That's how you know what is valuable from what is not.

It is tied to watts.  watts cost fiat. so you can tie btc to

the Dollar
the Pound
the Frac
the Ruble 
the Yuan
the Euro

so on and so forth

[Betwrong]

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 "tied" to dollars as anything else, meaning it can be sold for dollars, but it's not like dollar loses its value and Bitcoin is following. In this sense Bitcoin is "standing on its own" like you said. What can decide Bitcoin's value is its utility. If most people in the world will be using BTC for various reasons, it will be valuable for sure.

[DVlog]

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 told you bitcoin was tied to dollars? You think that because there are so many currency pairs with USD as a stablecoin? That is strange to know that some people think that way. So people who trade BTC/EUR pairs and live in the EU will say bitcoin is tied to the euro!

What is your idea for deciding the durability and value of bitcoin?

Do you know how we determine the wages of our employees? I am not sure about other countries but in my country it has been measured by the price of rice because rice is the primary food consumed by the local people. So a day laborer gets his salary based on the price of rice and i think this is a common method all around the world. So let's say you can buy 1 kilo of rice for 0.0001BTC then it can be the daily salary of a worker if we want to determine the value in BTC. We are so attached to the fiat value system that it sound wired to think of any other ways to determine the value.

[JunaidAzizi]

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..

It will not ever take place because Bitcoin is a decentralized system while the dollar is a centralized currency so how you can tie it to Bitcoin?  It will take place in the imagination  and there is no route for it in practicality. The price of bitcoin is free in the sense that nobody is controlling it while dollar is controlled by the US.  I think you saw this BTC/USDT in the finance.  This is just for the understanding of users because every person can easily calculate dollars but no one can do the same to Bitcoin.  So the Binance made this so that the users will make a comparison of how much BTC is in dollars and there are few people who I think calculate BTC exactly into dollars air in their fiat currency.

[DrBeer]

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)

One simple question - what is the price of Bitcoin measured in ? The answer is - in... DOLLARS.
And as long as the world's economy is counted in dollars, everything else is valued in dollars. The same Bitcoin, if there is a real cost of production - it is formed by the price of asics + electricity, because this is the real cost of obtaining it. Asics are sold for fiat currencies, or at least their price in dollars, but can be sold for other currencies or even cryptocurrencies, but... through the recalculation of dollars and the current value of cryptocurrencies in those very dollars. It is a similar picture with the cost of electricity. Therefore, it is difficult to call bitcoin independent of fiat, since it is valued in fiat currency on the market. When we consider the main prices in bitcoins, then we can talk about its "independence from the world of fiat money"

[STT]

As much as we would like to see Bitcoin replace the Dollar, until Bitcoin is accepted as a legal means of payment, it will remain a speculative asset more suitable for risky investments.

I can and have legally paid for items with BTC for 10 years or more and many will continue to do so in increasing numbers.   Whats being asked for here is national recognition and partiall backing by a government or central bank and this will never occur.   BTC issuance is via a 3rd party, very few governments will accept outside control like that especially when they feel the policy is unknown and possibly unfriendly to them.
  Many countries countries currency has often been in lock step to dollar but usually this was with USA as either an ally or trading partner hence it makes sense and adds stability to their economy to do so.  Also USA makes an effort to be clear and signal well in time any moves or alterations to policy, for good reason as they too benefit by usage of dollar.   BTC is just not lined up to perform in that way imo, I dont think there is any intention to do so .