...they are buying BTC to transfer and sell ... they still want dollars, they just want to get them out of the country as soon as possible without using suitcases.
...
Thanks
love it.
Don't get me wrong ... there *ought* to come a time when nobody wants dollars. But when that will be is anyone's guess. TPTB will do everything they can to prop up the house of cards for as long as possible.
For the last ten years Japanese Gov Bonds have traded at ridiculously low yields ( = high price) and many have tried to call the turn and short them, seeing the situation as unsustainable (which it is ultimately). The trade has become known as 'The Widow Maker' due to the number of people who have crashed and burnt trying to call the turn.
Unrealistic and unsustainable valuations can last for a very long time, defying all logic and fundamental analysis.
That said, the moment of truth would appear to be approaching IMO ... just don't bet the house quite yet
One reason you need fiat is to pay off the
thugs state. If you don't, they start to threaten people with guns and cages.
While ever there is taxation requested in state fiat, there can be no free market for currency.
However, that doesn't mean that Bitcoin can't thrive. It just means there are reasons why people need state fiat.
