Post
Topic
Board Economics
Re: Will the US Dollar dominate bitcoin trading
by
tabas
on 21/11/2016, 15:05:26 UTC
The US dollar has been dictating most of the trades world wide from crude oil to anything.  Is there a possibility that it will dominate in the trading of Bitcoin?
Well, I think that trading will mostly involve different altcoins and not USD or something like that. People would trade litecoins for bitcoins and bytes and so on. Usual currencies will leave the game field, because they are just to different and are strongly connected to specific countries.
It's universal here, and big countries such as US who thinks their fiat is losing it's value are investing their money in bitcoin because bitcoin moves on base on the demand, and it's getting bigger the adoption which makes the price increase. Maybe we just think US Dollar dominate bitcoin because it's how it's measured.

The way I think is different, dollar dominates the trading of bitcoin because bitcoins price is depending its value to dollar and no other currency. Because all of the currencies are also depending to dollar. And for trading, we can see that bitcoins price is increasing and maybe dollar has been affected by this bitcoins pump.