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    Author Topic: Why is bitcoin controlled by the dollar!  (Read 1905 times)

    • serjent05
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    July 10, 2016, 09:17:24 AM
     #41
    Bitcoin is  not controlled by dollar, the same thing with other currency, it's that USD is recognized  internationally and almost all currency exchange is based in USD value.  As a matter of fact even i f USD depreciate, Bitcoin price doess not goes with USD being depreciated. Same goes when Bitcoin Value appreciate.

  • CraigWrightBTC
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    July 10, 2016, 09:19:24 AM
     #42
    i guess dollar is just currency exchange for bitcoin if we wanna exchange it, but the dollar can not control bitcoin. sometime if every one in the world use bitcoin as payment method fiat money will become nothing.

  • TGD
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    July 10, 2016, 09:22:28 AM
     #43
    Quote from: NyeFe on July 09, 2016, 08:44:05 PM
    bitcoin is mean't to be fiat independent. Why is its price/value backed by dollar, instead of the gold-standard.
    In reality, we're still under the tight grips of central banks, United States, and the dollar!

    This is a large issue which needs to be fixed, internally within our community and externally ...



     
    Nope that's not true bitcoin is currency by it self it not depends in other currency it's exchanges price what we will see, not just only dollar every other currency exchanges had there own exchange to bitcoin.

  • tyagi
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    July 10, 2016, 09:45:58 AM
    Last edit: July 10, 2016, 11:14:42 AM by tyagi
     #44
    It is not correct to say that Bitcoin is "controlled by" dollar. A currency being "controlled" means that it is pegged to something else via a central party at a certain exchange rate yet you cannot exchange bitcoins for the computing power that was used to create them. Bitcoin is in this sense not controlled by anything. It is a currency in its own right. Just as gold is not controlled by anything, the same applies to Bitcoin.

    The Bitcoin currency is created via processing power, and the integrity of the blockchain is protected by the existence of a network of powerful computing nodes from certain attacks

  • ASHLIUSZ
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    July 10, 2016, 10:51:37 AM
     #45
    Quote from: rphk on July 10, 2016, 09:12:40 AM
    as i know bitcoin is independent and not controlled by fiat currency ,  same applies to USD also, since internationally more people use USD as conversion currency from BTC to USD , mainly it does not fluctuates based on currency but fluctuates based on demand of BTC buying and selling Smiley
    Bitcoin is anti-inflationary and is designed to be a store of value. It cannot be inflated to destroy its future value to pay for debt. It is not debt-based, not controlled by usd, nor government controlled, it is governed by mathematic algorithms.

  • PokerFace3
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    July 12, 2016, 01:10:44 PM
     #46
    Quote from: ASHLIUSZ on July 10, 2016, 10:51:37 AM
    Quote from: rphk on July 10, 2016, 09:12:40 AM
    as i know bitcoin is independent and not controlled by fiat currency ,  same applies to USD also, since internationally more people use USD as conversion currency from BTC to USD , mainly it does not fluctuates based on currency but fluctuates based on demand of BTC buying and selling Smiley
    Bitcoin is anti-inflationary and is designed to be a store of value. It cannot be inflated to destroy its future value to pay for debt. It is not debt-based, not controlled by usd, nor government controlled, it is governed by mathematic algorithms.
    Yes bitcoin is independent, if it was controlled by the govt. or usd, you had to pay taxes for every bill you pay. This is people's money.

  • sana54210
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    July 13, 2016, 04:50:46 PM
     #47
    Quote from: NyeFe on July 09, 2016, 08:44:05 PM
    bitcoin is mean't to be fiat independent. Why is its price/value backed by dollar, instead of the gold-standard.
    In reality, we're still under the tight grips of central banks, United States, and the dollar!

    This is a large issue which needs to be fixed, internally within our community and externally ...

    Bitcoin isn't in any way backed by dollar or in any tight grips of central banks and especially not under United States.
    Bitcoin's value is only often compared in us dollar, but in fact it is also compared in all the local currencies of their own respective countries/regions.

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