Think about it this way, currency is valued from other assers.
The kilo of bananas you want to buy costs $1 and that's the only reason the dollar has value, because you can use it to buy stuff.... That same kilo of bananas in the UK is 90p... The comparison between fiat currencies to other fiat currencies isn't a new thing by any means.
The idea bitcoin isn't the same is because the banks and rich people thst haven't bought in want you to think that's why it isn't a real currency or could never be one because it keeps being compared to other currencies.
If this didn't happen with other currencies, forex will be in trouble. The issue with bitcoin atm is that it can't scale to the size of fiat yet... But it might be a matter of time until it can.
Topic: Is Bitcoin ready for world wide 1 currency? - page 16. (Read 2402 times)
I ask this because of the corona virus where people are too scared to hold money.
The issue is that we value btc against the usd and other fiat currencies. If fiat currencies were no longer how would bitcoin be valued...inflation etc? Can't get my head around how it would work.
The issue is that we value btc against the usd and other fiat currencies. If fiat currencies were no longer how would bitcoin be valued...inflation etc? Can't get my head around how it would work.
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