Quote from: iram1011 on August 29, 2017, 12:52:16 AM

Quote from: Niya on August 26, 2017, 08:57:48 AM

When people talk about Bitcoin price, they usually refer to its price expressed in dollars. I really don't understand why...

US Dollar is going down in price, US economy is collapsing. There are many other countries which has more Bitcoin users, like Russia, China, Japan, Philippines and the whole Eurozone. Even ICOs are forbidden in the USA. It's not a so Bitcoin-friendly country, its national currency is not so strong. So why price Bitcoin in $?

There could be many other more appropriate currencies like EUR, CNY or RUB...

SIMPLY BECAUSE DOLLAR IS THE GLOBAL CURRENCY.

They might have banned ICOs for as they say Customer protection but not Bitcoin. USA is Bitcoin-friendly country. Moreover, these two facts doesn't matter at all because Dollar plays a dominant role in international trade and finance as both a store of value and a medium of exchange. Therefor, it will be considered when there is something International. Bitcoin being international need to be expressed in Dollars. Most of the countries have their own exchanges and sometimes price deviates nationally regardless of international price.

personally, i think its a bit of a stretch to call it a global currency, i would liken it more to the global standard of currency if anything; as much as the dollar is accepted worldwide, it's not accepted in a grand majority of business establishments; i can't just go out to the middle of china or something and expect to be able to pay with dollars. however, in the global markets, exchange rates are commonly shown in whatever currency to the dollar (ex, 110 japanese yen to the dollar). however, wallets, exchanges, and bitcoin price trackers commonly have the option to show the price of bitcoin on the euro, pound, and other major currencies. maybe it just comes down to people being used to the relative value of the dollar, doesn't really matter in my opinion.