what would you be able to trade bitcoins for if the dollar/euro crashed first?
or if it gets stronger by that time, would it replace them?
or if its not ready for the colective conciusness would it crash as well?
or what would you be able to trade it for?
btw cant see no big wall, its only day trading, bots and traps atm it seems, looks like it will continue steadly rising .
or if it gets stronger by that time, would it replace them?
or if its not ready for the colective conciusness would it crash as well?
or what would you be able to trade it for?
btw cant see no big wall, its only day trading, bots and traps atm it seems, looks like it will continue steadly rising .
I'm going to step away from the uber-bullishness for a minute to say that the dollar/euro aren't going to be immediately swept away by Bitcoin. That simply won't happen.
It's not to say that Bitcoin can't rapidly achieve a trillion-dollar-plus market cap - I believe it can - just that the role of inflationary currencies will continue to be a large and important one for the foreseeable future. Beyond the fact that tax obligations have to be paid in state-issued fiat, banking will be difficult in Bitcoin, and financial markets will certainly not be switching anytime soon - most "wealth" is in equities or derivatives, priced in dollars.
Then there's the fact that oil can only be purchased with dollars.
Gold, silver, and fiat have been coexisting for many years now, and I do not expect Bitcoin will upset that balance. We're looking at a timescale of decades before we can expect fiat to go away.
Frankly, I much prefer it that way. A functional alternative to fiat is actually better than a giant upheaval.
Some people still get the paper in their driveway every morning. And sometimes even I enjoy the experience.
I guess i agree with you, you make valid points, and true i prefer it that way as well, i was just thinking it becuase as i see it works kind of like this way the backd up Gold/Silver --->>> Currencies --->>> Bitcoin value?, *correct me if im wrong
while the direct backup for bitcoin is the hash number of each?
or am i just tripping
Not really sure what you're talking about.
Nothing is backed by anything but faith these days. Gold is backed exclusively by people who want it. Silver is backed exclusively by people who want it. The dollar is backed exclusively by people who want it. And naturally, Bitcoin is backed exclusively by people who want it. "The Economy" is a collective hallucination.
With that in mind, the people who cry "tulip!" at Bitcoin are really just not thinking very hard about the way the world ticks. Gold is the biggest tulip of all time, and that doesn't keep it from a 7 trillion dollar market cap.
(picturing Monty Python skit)