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Isn’t the thinking that BTC would increase relative to the hyper inflating currency to compensate for the inflation? So you wouldn’t have to pay more BTC for th
by voisin 5y ago
Isn’t the thinking that BTC would increase relative to the hyper inflating currency to compensate for the inflation? So you wouldn’t have to pay more BTC for that holiday?
- leereeves 5y agoIn the event of a serious economic crisis, the government would probably confiscate Bitcoin, like FDR confiscated gold during the Great Depression. (I know they can't actually confiscate Bitcoin that isn't in an exchange, but they can make transacting in Bitcoin illegal after a certain date.)
- smt88 5y agoExactly right. As long as BTC needs to ramp off into fiat for most spending purposes, it can be banned. Importantly, it can also be banned if centralized exchanges are powerful enough and do what the government says.