BTC vs USD competition...

[hani20980 2706]

That's expected with the popularity of bitcoin the dollar value will kepp going down each day

but even if this is great news for bitcoin users but it's not the same for the new investors since

they have to pay high amounts to buy some bitcoin

[Dormilon 2183]

On 1/11/2021 at 11:50 AM, tienda said:

ccording to the analysis between January 06, 2020, and January 06, 2021, Bitcoin rises in price relative to the dollar,

@tienda And it is expected that this trend will continue to increase, for this year a rise in BTC is expected that would leave the dollar further behind than it is today, with the covid-19 pandemic and economic aid in the US by the new government , the incentives towards investing in bitcoin will increase and institutional investments could give a boost to the digital currency as a means of safeguarding value, so the dollar, according to the predictions of experts, will continue to plummet in 2021, greetings and thank you for contributing positive things to the forum.

[Guru2050 8284]

Still the difference is infinitesimal to me. The global world is dynamic technological currency capable of pumping upward yielding chance for making profit. 2020/2021 has proven BTC to be that coin that will safe the decaying global economy not USD. 

[Ameralsamt 2558]

Yes, dear, your analysis is 100% correct, and this is a big drop in the value of the dollar against Bitcoin, which is sad for the world's strongest currency, but this decline is not a failure of the dollar but bitcoin has increased demand for it which has led to a significant rise. 

[abohasnn9 2401]

My friend, I think that Bitcoin is the one who will win the future, and the reason is due to the annual inflation of the US dollar. This inflation makes companies despair of the dollar and started to buy a currency that does not inflate.  Bitcoin looks like gold. Thank you very much

[TimopheyKa 3900]

Of course, bitcoin is actively growing, and it seems to me that it has a great future, the main thing is to believe in it. In fact, many of us believe that in 2021, bitcoin will be able to take $ 100,000, and this is really possible! Because, its activity is now high, and many traders are buying cryptocurrency!

[Malikjnb 1235]

On 1/11/2021 at 8:50 PM, tienda said:

According to the analysis between January 06, 2020, and January 06, 2021, Bitcoin rises in price relative to the dollar,

it means that the US currency loses value compared to the Bitcoin. 

Look at this graph that shows how the dollar has lost ground against Bitcoin over time.

 

In April 2011, with $1 you could buy 100,000,000 Satoshi, which is equivalent to 1 BTC.

Today, with the same dollar, you can buy something like 3,000 Satoshi or 0.00003 bitcoin. 

In just 1 year, the dollar went from being able to buy 14,000 Satoshi (January 6, 2020), to just 3,000 (January 6, 2021).

That means a 78.5% reduction in purchasing power versus bitcoin.

I think strong competition BTC with USD. Both are popular currency. Btc is online digital currency and USD is fait currency. USD values and price is low day by day. I think one day BTC take it's place in future. 

[Sykkuno 2887]

The dollar and all the fiat are losing value as the governments that we trust, are printing trillions of dollars and creating less wealth for us, while assets and investments are on the rise. Bitcoin is the top investment that is against this kind of inflation and directly gains from any kind of excessive printing of USD from the FED.

[koynayak 1923]

I don't think is it right to comparing usd with btc but you're right. Bitcoin earn massive value in short amount of time. It doesn't have to be usd , every other investments couldn't reach bitcoin value. Usd can be manipulated and when they increase the supply usd price will decrease but we know how many bitcoin is in the circulation.

[Bukarr2 78]

BTC and USD competition is a very large gap the fact that many people knows there value and as far as the world market is concern the value of BTC we continue to rise up as the way people demand on it.

[Khan 1414]

3 hours ago, Bukarr2 said:

BTC and USD competition is a very large gap the fact that many people knows there value and as far as the world market is concern the value of BTC we continue to rise up as the way people demand on it.

True as there is no competition because of the price. The demand and usage of USD is more then the BTC but the price of BTC is 1000+ higher then the USD.

[ibrahim halil anaç 138]

Most could not have predicted that bitcoin would gain this much against the US dollar in a short time. As a matter of fact, in the face of this rise, the new USA government is preparing to make new legal adjustments for many crypto currencies, especially bitcoin. We will see how this will affect the crypto money market in the coming days.

[Anastasiaa 27]

Bitcoin is currently about $31k plus, and its has gain quite a lot of margin over the USD, The price of Bitcoin continues to consolidate at the moment

[chambers 58]

Bitcoin won the competition that started some decades ago, the price ratio of Bitcoin to USD is not a small margin and aside from circulation volume that USD has over bitcoin every other aspect will be clearly won over by BITCOIN. 

[Jack764 1841]

The Bitcoin currency has made a gap in regular currencies, especially the dollar currency, and that the dollar's decline has become faster with time, due to the increasing number of people entering the field

[Pereira 2303]

This happens due to the demand for bitcoin in the market, and it rises in value, more compared to the dollar it stays at the same market price, the volatility of bitcoin in the market is very large, but this is a double-edged sword , since if this currency falls, the dollar remains at its stable market price. But personally I prefer to invest in cryptocurrencies than in dollars, since this increases due to market volatility.

[kryptonick 2659]

The dollar didn't lose much of its purchasing power just because Bitcoin is rising for twelve years in price. This is a mistake to make. It is Bitcoin that is rising and the dollar until today is having one of the lowest inflation levels in history, meaning it was de-valuating slower than ever for the last 25 years. Since the end of the 90s the inflation has been around 2%, which is one of the lowest in history. But this can change and 5% inflation is possible if the FED keeps printing trillions each year.

Edited March 20, 2021 by kryptonick

[pablomarwan 3082]

@tienda It is due to the intense demand for Bitcoin. The important question here is why this is so demanding of the currency. Well, during a decade of coin creation, important matters have been pursued, the most important of which is that there is a limited number as presented to us. Also the split that occurred every 4 years. This last point is the one that we will focus on. The majority think that in every division, the price doubles. But they do not know that this is an idea alone that contributes to the increase in demand, and since supply shrinks each time, this helps to raise demand and the price. The dollar in this case is the sign. It is important here because after the sale it is converted into dollars. And since the United States did not recognize Bitcoin or that it does not constitute any of its assets. This led to an inflated currency and also to its decline. In addition to that, the recent events of the epidemic, elections and political relations. Matters must be detailed in order to be understood.

[kion 381]

Well, that is not supprising, I believe that everything has it own period of been a super power, especially when it comes to paper currency, Dollar has been dominant, but now the attention of the world is moving away from paper money to cryptocurrecy, that is why Dollar is lossing against Bitcoin.

[khaler 1549]

On 1/11/2021 at 5:50 PM, tienda said:

According to the analysis between January 06, 2020, and January 06, 2021, Bitcoin rises in price relative to the dollar,

it means that the US currency loses value compared to the Bitcoin. 

Look at this graph that shows how the dollar has lost ground against Bitcoin over time.

 

In April 2011, with $1 you could buy 100,000,000 Satoshi, which is equivalent to 1 BTC.

Today, with the same dollar, you can buy something like 3,000 Satoshi or 0.00003 bitcoin. 

In just 1 year, the dollar went from being able to buy 14,000 Satoshi (January 6, 2020), to just 3,000 (January 6, 2021).

That means a 78.5% reduction in purchasing power versus bitcoin.

I do not think that we can say that the dollar is depreciating its value because we are comparing it with a decentralized currency that is not covered by anything, neither gold nor oil. Therefore, when you compare a currency, this currency must be compared with another physical currency and not a cryptocurrency. The price of Bitcoin rises not because of the weak purchasing power of the Dollars but because of the many mining operations that happen.

[Simon London 1749]

Hello everyone, friends, I believe that between bitcoin and the USD, there is no competition, each has different characteristics that make them interesting in the financial system of a country, but I believe that in the long term future, the use of cryptocurrencies, will take the lead, leaving the USD and other fiat currencies behind.

[teebasas 3018]

BTC is a serious inflation hedge, and it will almost certainly rise against fiats (not just dollars) in the years ahead, even if it is stable, which it will never be. Furthermore, the printing of USD has not ceased over the years. This further strengthens BTC's position against the dollar.

[Nersreem 279]

Bitcoin and USD can't be compared in value because they serve different purose. They can influence each other in some instances but play different role in terms of demand and supply to their users.