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> A fiat currency will only collapse if you lose faith in the state, your fellow humans and the ability of the judicial system to enforce repayment. Luckily th
by bitcoin_anon 5y ago
> A fiat currency will only collapse if you lose faith in the state, your fellow humans and the ability of the judicial system to enforce repayment.
Luckily that never happens.
https://morninginvest.com/venezuelas-currency-collapse/ https://morninginvest.com/venezuelas-currency-collapse/
- arcticbull 5y agoWow I had no idea America was in Venezuela. You know they use the USD now right? [1] [1] https://www.bloomberg.com/news/articles/2021-01-13/venezuela-plans-to-expand-use-of-foreign-currency-bank-accounts https://www.bloomberg.com/news/articles/2021-01-13/venezuela...
- cfcosta 5y agoNot too long ago, Venezuela wasn't Venezuela, and Argentina was one of the richest countries in the world. It can happen, it has happened, and will happen again.
- arcticbull 5y agoOk, but so what? Why do you think Bitcoin would protect you? Why wouldn't you purchase assets of any sort with money as you receive it? That's the whole point of inflation - to incentivize the purchase of productive assets. Anything could happen at any time. But I don't live my life with a pile of weapons, canned peaches and ammo. That's prepper talk. We have no idea what a hypothetical apocalyptic failed state America looks like. There's no guarantees that there won't be a single entity with more than 50% of the hash power. There's no guarantee that the internet will be up. There's so many things that have to go exactly right to think we'll be trading spreadsheet cells in the apocalypse.
- cfcosta 5y agoI don't think anything lel. Not sure why you are so up in arms about this, but that's why you diversify. Also, it's completely opt-in, you don't ever need to buy any Bitcoin if you don't want to. It's going to crash and burn, or prosper on its own merits.