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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?

 

[osavise]

I think they maybe somehow related. Most crypto currencies are pegged to USD. In a case where a digital currency is pegged to a dollar then I suppose however its being minted will inadvertently affect the price of that digital currency and at large the entire market cap.

I think you are right in that regard. Value of cryptocurrency is measured In dollars. So, I would relate in market value. I believe so.

 

[SCAMEXPOSER]

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.

It is very unfortunate that despite the increasing in value of dollar circulation the Naira is not able to build strength against it. More dollars in circulation will push the price of Bitcoin.

 

[sammyblaq]

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.

I was flowing to your lines till I got to the last line that naira will strengthen against the dollar. Your post means like that of a politician. We have come a long way, instead of naira to be gaining against dollar it is going down and down.

 

[SCAMEXPOSER]

I was flowing to your lines till I got to the last line that naira will strengthen against the dollar. Your post means like that of a politician. We have come a long way, instead of naira to be gaining against dollar it is going down and down.

Naira will find it difficult to gain against dollar because of our inferiority complex as government and citizens, we don't grow nor support our local industries. How many Nigerians drive Inonso vehicles? We demand too much of forex.

 

[sammyblaq]

Naira will find it difficult to gain against dollar because of our inferiority complex as government and citizens, we don't grow nor support our local industries. How many Nigerians drive Inonso vehicles? We demand too much of forex.

The inferiority complex is so much alarming my brother. Thank God you mentioned IVM that the Govt should be patronising on Auto but they don't.
Sidelining Ibeto and others for Dangote to monopolize the cement line.
I won't be surprise if it gets to 1000/$1.

 

[SCAMEXPOSER]

Until US dollars goes beyond damage control before the country and it citizens realise the potential in the country's natural resources and Local industries.

 

[osavise]

The number of fiat currency printed would determine the value of cryptocurrency . A recent research showed that cryptocurrency's value is dependent on the fiat currency in circulation.

 

[SCAMEXPOSER]

The number of fiat currency printed would determine the value of cryptocurrency . A recent research showed that cryptocurrency's value is dependent on the fiat currency in circulation.

Not all Fiat currencies I will agree with you that the price of Bitcoin gold pump or increase when the value of US dollar is higher in circulation

 

[osavise]

Not all Fiat currencies I will agree with you that the price of Bitcoin gold pump or increase when the value of US dollar is higher in circulation

You are right about that. I should say dollars because the standard for measuring cryptocurrency is the US dollars.

 

[Chibson]

I will say yes because the currency printed are what Bitcoin investors use to purchase it. The higher the printed the higher Bitcoin price.

 

[Mariappa45]

If that's the case many owners could've minted plenty in order to make more money provided they are circulating it any amount. It's simply on the rate of supply and demand that boost the price of any coin.

 

[Wisdom01]

You have explained the reason why bitcoin price Increased without mincing words. The more the money in circulation the higher the price of bitcoin.

Yeah most especially the demand , because that's what increase the price ,if the demand is moving very high ,no doubt we would see a high increase in price

 

[LutherKing]

More money means less buying power so the prices of local things go up as well so its dire t relation and can't affect bitcoin price to be honest , food is more import than btc shot

 

[microunit]

Of course the value of fiat is dependent on its situation and the supply whether is is inflated or not, the value of bitcoin is not solely dependent on dollar but just it's that way as bitcoin was mainly valued through dollar

 

[Wisdom01]

More money means less buying power so the prices of local things go up as well so its dire t relation and can't affect bitcoin price to be honest , food is more import than btc shot

More money will obviously affect the value of the currency that is been used to purchase Bitcoin , I think probably that's what the poster meant ,it indirectly affect the price of bitcoin

 

[LutherKing]

I agree ,I understood it after watching the inflation series videos on YouTube that caused inflation in Africa region in the late and early 90's to be honest in my opinion .

 

[Goodness174]

I don't think flat can affect the price of Bitcoin because I feel Bitcoin is being affected by demand and if there is inflation it wouldn't affect Bitcoin

 

[SCAMEXPOSER]

I don't think flat can affect the price of Bitcoin because I feel Bitcoin is being affected by demand and if there is inflation it wouldn't affect Bitcoin

Absolutely, they are not really dependent on each other we only use fiat currencies to determine the value of bitcoin in the local currency.

 

[Brain]

Once bitcoin and E-wallets gain popularity, the value of dollar would steadily decrease because most countries are wanting paperless transactions.

You just wrote my thought I think the two are competitive as people are looking for paperless transactions and digital money such as crypto currency does arise to this occasion

 

[SCAMEXPOSER]

You just wrote my thought I think the two are competitive as people are looking for paperless transactions and digital money such as crypto currency does arise to this occasion

Obviously the US dollar will I have its strength decreased globally because countries will now be dealing directly using cryptocurrencies in relations to their Fiat currencies.