the dramatic devaluation of fiat will almost certainly lead to an increase in the purchasing power of Bitcoin, i.e. you will be able to buy more than today with the same amount of bitcoins...
Since people will run into safe havens from fiat, and Bitcoin may well be one such haven
That doesnt follow automatically. If they print dollars into worthless paper then bitcoin does not buy more goods, it buys more dollars because each dollar is worth less. We can hope more people use bitcoin at that point but it could even be that bitcoin is used less, after all there is lots of different cryptographic coins not just this one. All you need is some Elon Musk kind of genius to possibly wipe out alot of progress bitcoin got by copying its good points and overcoming any limitations it has.
Maybe not that easy because its the wider network not one guy but I think its possible the fall of dollar does not accelerate bitcoin to greater purchasing power, it might just stay the same
Why did you exclude the first part of my post where I specifically mentioned about all other things remaining the same? Further, if you have been reading my post carefully (which you obviously haven't), you would have noticed I said that Bitcoin
may be one of such safe havens. So what part of my post are you challenging exactly? People always get rid of collapsing currencies and spend money as soon as they are paid with it buying all sorts of things in an effort to preserve value. And if they can, they will buy foreign currency which is most stable. That
may be Bitcoin, and it
may as well lead to a more expensive Bitcoin than it is now in absolute terms (i.e. in the purchasing power terms) due to a significantly higher demand for it (emphasis added)...
Have you ever felt the impact of hyperinflation with your own skin?
thats true, fiat is always worthless because of that endless printing of the money that is happening in the usa
