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There is arguably far less value for most fiat curencies, at least for future use, maybe we still have a working fiat system today. Let's assume bitcoin become
by hirako2000 6y ago
There is arguably far less value for most fiat curencies, at least for future use, maybe we still have a working fiat system today.
Let's assume bitcoin becomes the dominant currency for payments down the road. At its max supply, each bitcoin would be worth well over 10 million USD (in today's value of USD). And it would keep increasing in "value" because of its deflation scheme (unless of course conscencius vote for upping the supply limit for whatever reason)
So, we have a fiat currency on one side, manipulated by (at best) incompetent politicians, suffering inflation in the near term with all the stimulus we absurdly accept, a growing global debt, without a solution to repay in the horizon. And on the other side, a sane monetary policy system backed by a very solid network (all those farms + battle tested software).
In a 5+ years, these comments will look funny when people will argue that a 100k bitcoin is overvalued.
- AnimalMuppet 6y ago> Let's assume bitcoin becomes the dominant currency for payments down the road. What if we don't assume that?
- hirako2000 6y agoThe exact opposite would be that bitcoin value eventually drops to zero. No use, no value. It's a possibility. And I don't have a crystal ball. People will make that choice. Fiat currencies may solve its deficiencies and we will happily with them. Given how global and digital the world is becoming, crypto currencies would most likely be somewhat popular anyways, unless something better comes along.