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Are you sure that US Dollar or Gold or bread have some intrinsic value? Day to day they do have some stable price but on a longer time scale that changes a lot.
by chewz 5y ago
Are you sure that US Dollar or Gold or bread have some intrinsic value? Day to day they do have some stable price but on a longer time scale that changes a lot.
Let's take EURUSD for example - both currencies are loosing purchasing power but EUSUSD ranges from 0,9 to 1,6 within last 50 years.
In some sci-fi scenario US Dollar could also go to zero if for example USA looses major war with China as is left with crushing debt. This is a possibility. What would be the value of Bitcoin then?
- retsibsi 5y agoIf USD became worthless, people would stop denominating the value of bitcoin in USD. This (or less drastic but still major fluctuations of USD) would complicate questions about how bitcoin's value had changed over time, but I'm not seeing how it would create ambiguity over whether bitcoin had 'gone to zero' or not.