I do not understand why I should compare these currencies. The dollar is for the government, and bitcoin is for the people. So it was from the very beginning of the existence of bitcoin. And bitcoin will never replace the dollar
It can't be compared in all of the conditions. eaither are different commodity. USD as a legal fiat money can't be threatened by bitcoin as illegal commodity based on the goverment's regulation.
Both are need each other. There is no reason to compare both of the currency. remember bitcoin price is pegged with the dollar itself.
I was sure that the price of bitcoin is not tied to any currency. Simply, each country expresses the cost of bitcoin in a convenient form for the people. If the dollar falls, people will look for an alternative. Maybe it will be bitcoin
Because they see the Bitcoin price quoted in US dollars
There are quite a few things which are priced in dollars and most likely anything which can be priced as such has already been priced in dollars. Bananas are priced in dollars, gas is priced in dollars, other currencies are priced in dollars. Wtf, even gold is priced in US dollars! But does it mean that all these things are somehow "tied" to the wretched American dollar or their value somehow depends on the dollar? There are so many things that allegedly depend on it that we could actually wonder if it is not too much for something which is basically paper to make so many things to depend on it? Could it in fact be quite the other way round?