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[AudraMiller]

There is of course a link between the fiat currency value and the price of various cryptocurrency coins as well, and there are many peopel that are trying to use cryptocurrency in order to try and overcome the effects of inflation that have become so prominent over the last couple of years. However in a recent article, it seems that the solution that America has to print more money may be good for the cryptocurrency world as well. According to the mayor of Tennessee, he believes that if the united states of america goes ahead with the printing of more us dollars, that it would result in a rise in bitcoin prices. In my opinion this could be possible as the rise in bitcoin price would be as a result of the devaluing of the dollar with its increased supply. What are your thoughts on this?

 

[AudraMiller]

Yeah more printing of currency usually have effect on Bitcoin price , because people would invest more since they have more money to purchase Bitcoin as they like

This can be true, however if you print more of a fiat currency as well, then it will increase its supply and by the basic economic rules, this could cause the buying power of the fiat currency to go down as well.

 

[AudraMiller]

I'm surprised to se that the printing of more dollar notes affects the value of BTC positivety. My own ideology is that printing of more dollar notes will reduce the value of BTC, since inflation would take place if this happens

Surprisingly enough inflation is not something that is a factor that affects bitcoin prices because many people are actually investing in cryptocurrency in order to try and beat the high inflation rates that we are seeing recently.

 

[Wisdom01]

This can be true, however if you print more of a fiat currency as well, then it will increase its supply and by the basic economic rules, this could cause the buying power of the fiat currency to go down as well.

Yeah surely the value of the currency would drop and inflation would start looming , I think that's the negative aspect of printing more money in the circulation

 

[AudraMiller]

Yeah surely the value of the currency would drop and inflation would start looming , I think that's the negative aspect of printing more money in the circulation

I also was under the impression that money can only be printed if there is a gold standard that is able to backup the financial value of the money that is being printed.

 

[Josemendez]

Bitcoin and Fiat currency do not have anything in common and as such one should not focus on that but on demand and supply which affects the market.

 

[AudraMiller]

Bitcoin and Fiat currency do not have anything in common and as such one should not focus on that but on demand and supply which affects the market.

This is a good point and they are different in the sense of one being centralized and the other being decentralized however the fact is that all things are interconnected in some way or the other and i think the same is true here.

 

[Josemendez]

This is a good point and they are different in the sense of one being centralized and the other being decentralized however the fact is that all things are interconnected in some way or the other and i think the same is true here.

The issue that many cryptocurrency projects are having is the fact that they are unregulated and they are offering their services on a regulated exchanges

 

[AudraMiller]

The issue that many cryptocurrency projects are having is the fact that they are unregulated and they are offering their services on a regulated exchanges

This is a good point, and this will limit their usage sales and also the number of people that are interested, because many people are interested in crypto because of its decentralized and anonymous nature.

 

[Josemendez]

This is a good point, and this will limit their usage sales and also the number of people that are interested, because many people are interested in crypto because of its decentralized and anonymous nature.

This is why new projects are working towards being Decentralized and the fact is that they will benefit from it in the long run.

 

[Wisdom01]

I also was under the impression that money can only be printed if there is a gold standard that is able to backup the financial value of the money that is being printed.

The scarcity is what increase the value of money , because if it's scarce and not too available people would actually want to work for it more to earn it

 

[Ridorz]

This is not really cleared to me because I don't think that Fiat currency and crypto currency has anything do with each other, anyway the way you stay online the you learn.

 

[Wisdom01]

This is not really cleared to me because I don't think that Fiat currency and crypto currency has anything do with each other, anyway the way you stay online the you learn.

I think they have relation , because there was a time the flat currency was more in the circulation when USA printed more due to the pandemic ,it increased Bitcoin price then

 

[SCAMEXPOSER]

I think they have relation , because there was a time the flat currency was more in the circulation when USA printed more due to the pandemic ,it increased Bitcoin price then

Yeah it increased the value of price of bitcoin because people that got the pandemic funds pushed into bitcoin Investment to fight inflation.

 

[Wisdom01]

Yeah it increased the value of price of bitcoin because people that got the pandemic funds pushed into bitcoin Investment to fight inflation.

Majority actually invested since they lost their jobs , so they were basically looking for means to gain more profit from their investment to cover up for their job loss

 

[SCAMEXPOSER]

Majority actually invested since they lost their jobs , so they were basically looking for means to gain more profit from their investment to cover up for their job loss

Yeah, the plan actually worked for people who took out profit earlier before the market crashed because bitcoin had a significant rise last year.

 

[Wisdom01]

Yeah, the plan actually worked for people who took out profit earlier before the market crashed because bitcoin had a significant rise last year.

The problem is that many were just holding instead of selling fast , so it affected the gains they would be Making ,since it was on the internet that the price would get to $100k soon

 

[SCAMEXPOSER]

The problem is that many were just holding instead of selling fast , so it affected the gains they would be Making ,since it was on the internet that the price would get to $100k soon

That's true, analyst are very good at giving positive prediction to encourage people to hold their coins but been self discipline and knowingly that market correct after bullish.

 

[Wisdom01]

That's true, analyst are very good at giving positive prediction to encourage people to hold their coins but been self discipline and knowingly that market correct after bullish.

That is why I don't follow the words of the analyst , I just follow the way I Know how to trade. Because those analyst might be predicting what's wrong

 

[SCAMEXPOSER]

That is why I don't follow the words of the analyst , I just follow the way I Know how to trade. Because those analyst might be predicting what's wrong

Yeah, when you are trading you do it with respect to the general market situation for you to set your stop gain and stop loss limit.

 

[Niftyicon]

What i understood in this article is that the more dollar printed by the US, less the value and BTC will gain.
But i want to state that Dollar has been appreciating against my location currency (Naira) alongside BTC too.
But if that be the case, the US should continue printing notes.

Printing more Fiat wouldn't do any economy good and the US should consider the inflation that would arise from that. I really wouldn't want a devaluation of the dollar because of the global economy but nothing stops naira from strengthening against the dollar.