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> But then it will evaporate in a while and will have no value at all. This is true of the US dollar as well if you look at a 100 year time span.
by throwaway4aday 4y ago
> But then it will evaporate in a while and will have no value at all.
This is true of the US dollar as well if you look at a 100 year time span.
- amluto 4y agoA dollar is still a dollar in 100 years. The dollar may be worth less due to inflation, but that’s a separate issue. This Bitcoin note might not be backed by any Bitcoin, meaning it may have no value whatsoever.
- shadowgovt 4y agoAlternatively, note could retain value while the underlying Bitcoin becomes worthless; the Internet may have become irreparably fragmented by the collapse of global civilization, and fancy rainbow paper money will carry value because you can see it, smell it, and hold it while numbers in a database will be worthless because you can't verify that database against anyone else's database over a nonexistent network fabric (and that's if you can even get enough electricity to run the algorithms to do the public-key verification). 100 years of future time can be just full of surprises.
- throwaway4aday 4y agoCan't agree with this, paper money is only worth what it's backed with or by the confidence people have in other's willingness to exchange goods and services for it. No government = no fiat. No bitcoin = no bitcoin cash. If global civilization collapses you'd have more luck trading bullets and bullion.