BITCOIN VS DOLLAR !!! THE WAR OF CURRENCIES !!
A software developer named Satoshi Nakamoto proposed bitcoin in 2008, as an electronic payment system based on mathematical proof. The idea was to produce a means of exchange, independent of any central authority, that could be transferred electronically in a secure, verifiable and immutable way.
On the other hand, we have the most powerful currency in the world “ the dollar”. The dollar was chosen to become the monetary unit for the USA in 1785. The Coinage Act of 1792 helped put together an organized monetary system that introduced coinage in gold, silver, and copper. And now it has reached the top of the currency world. The worldwide exchange of money is in dollars these days.
The question in some of the top minds in cryptocurrency have been asking as calls of a "Bitcoin" grow louder. It's hard to deny that Bitcoin was distinctly bubble-ish at the end of 2017, finishing the year up nearly 1,800% from where it started.
The argument ties in well to a key aspect of the founding ethos for Bitcoin and other cryptocurrencies: immunity from inflation. When anonymous Bitcoin creator Satoshi first established the coin, he created it such that there are only ever going to be 21 million Bitcoins in the world. In the minds of crypto evangelists, the finite supply means Bitcoin is immune to the orchestrated inflation that occurs when the Treasury prints more money.
We noted that a lot of the leaders in Bitcoin don't view it as a bubble, but rather as the pin that will pop a larger, more ominous bubble -- the fiat currency of the United States.
Is Bitcoin worth more dollars because Bitcoin's value has gone up, or is Bitcoin worth more dollars because the dollar's value has gone down?"
It's worth noting that Bitcoin has steadily shed value over the past few months, dipping as low as $5,947.40 on Feb , according to Coindesk. That's after the cryptocurrency soared to a high of $20,089 on Dec. 17. Currently a piece of bitcoin is 7,371.73 $.
The U.S. dollar index, which compares the greenback to a basket of other currencies, has moved lower about 2.8% since the start of the year. Bitcoin, on the other hand has decreased 47.3% in the same time.
Bitcoin could trade between $6,000 and $60,000 in 2019, simply because of its "hyper volatility" and reflexivity, said Ari Paul, chief investment officer and co-founder of BlockTower Capital.
"The higher Bitcoin goes and the faster it gets there, the more likely it is to crash. The reflexivity of the currency means that as it rallies, it invites everything from regulation to speculation to scams from bad actors.
"Nothing about that has changed from when Bitcoin was $100 a piece or $1,000 a piece,". It's about "powerful ways to communicate, share value, send money. But to be honest according to the sources , bitcoin in the coming years will overthrow the dollars to become the most powerful currency in the world.
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