Quote from: Mpamaegbu on October 18, 2020, 02:06:05 PM

Quote from: HammadAli on October 18, 2020, 12:18:34 PM

So did bitcoin has losen its value with usd? If yes then similarly other fiat currencies like usdb, usdt etc. also lose their value with devaluation of us dollar.

There's no way we should consider the current state of Bitcoin as having lost its value when we view it from the prism of its present price. If anything, it gained value. It's a pandemic at hand at the moment, yet the price keeps soaring and more users get added on its network from patronage. Take a perusal of fiat standing against Bitcoin, dollar and pounds inclusive, and you will observe that from $3,500 in February-March this year to well over $11,000 now shows value addition to Bitcoin. It's value that causes demand; and demand paves way for price increase. And this is what is happening with Bitcoin. Technically, for me, Bitcoin has gained more value than all fiat at this time.

Increasing price doest not mean more users are adding to the network.