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Author Topic: I like this a LOT :)  (Read 2276 times)
Carra23
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June 15, 2014, 09:51:10 PM
 #21

Yes, it's odd - at the beginning it states that Bitcoin is considered a safe store of value "to protect from wild swings in fiat currencies...", but then goes on to say the U.S. dollar and bitcoin move in the same direction, while gold moves in the opposite direction.

Confused article that doesn't really tell us anything.

Was probably a slow news day and they picked anything to write about.
ShakyhandsBTCer
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June 16, 2014, 03:31:22 AM
 #22

Why would $ decline when bitcoin rises in value? Do U really think bitcoin makes it go down

Lack of demand = lower value, worth less.

People exchanging fiat for bitcoin means they put less value in usd and more in btc...so bitcoin goes up, usd goes down. Once mega money starts cashing in to bitcoin, the usd value will drop more significantly...it's basically people dumping fiat for some other currency. Every time China does it the dollar falls.

bitcoin does not have that big of a market cap to make that much of a difference in the price of the dollar.

The market cap of bitcoin is well under $10 billion. There are tens of trillions of dollars worth of dollars.

true. usd market cap is more than 18.7 trillion. btc is like 8+ billion

This is why bitcoin is more appropriate for 3rd world countries.

Well you can see it the other way around.
It represents such a small percentage that it will most likely be held by the eastern world.

It has more potential for 3rd world countries. They would benefit more relatively speaking
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June 16, 2014, 03:45:49 AM
 #23

A news article commenting on price trends? What is the point? I have charts for that.
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