Why Bit Coin Doesn't Work As A Hedge If Fiat Currencies Collapse - page 2.

odolvlobo

legendary

Activity: 4466

Merit: 3391

Quote from: lm2f on February 21, 2021, 09:00:52 PM

Okay, so what will bit coin be worth when fiat is worthless?
Can any coiner honestly answer how your shitcoin has value if the fiat money it's valued on is worthless?
It's hilarious because no bit coiner can ever answer this question.

I can answer that question.

The answer is that you are confused. The value of a bitcoin is measured by fiat. It is not based on fiat.

If fiat collapses, what will the value of a gun be? According to you, a gun would be worthless because "the fiat money it's valued on is worthless". But it is not.

Bitcoin is the same as the gun. One of the main features of Bitcoin is that it is a currency whose value is independent of other currencies.

ChronoGN

newbie

Activity: 10

Merit: 0

Quote from: lm2f on February 21, 2021, 09:02:20 PM

Imagine the following scenario:

-world economy crashes
-ALL FIAT dollars are worth ZERO. 0
-bit coin is worth literally nothing because the money that gave it value is gone
-coiner walks into gun dealer and says "I want a gun, I got my bit coins"
-Gun Dealer LOLZ in his face cause bit coin is worth 0
-coiner goes home and kills himself.

That's a possibility. But, that's why you should hold other hedge like gold and silver.

Darker45

legendary

Activity: 2576

Merit: 1860

I'd rather stick to the subjective theory of value which basically says things got their value out of people's need or desire for it. Man, Bitcoin may be a worthless piece of shit to you. But tell that to the millions of unbanked people, to millionaires and billionaires around the world trying to keep their wealth's worth, and to the richest man on this planet who finds Bitcoin a sort of a refuge in the face of a fiat currency which offers nothing but negative real interest.^[1] If you say Bitcoin is worthless without fiat, then perhaps you need to go back to the start and try to get the tiniest of inkling about it.

[1] https://twitter.com/elonmusk/status/1362600676174557186

Bin-spain

newbie

Activity: 1

Merit: 0

Ahora he estado operando en mxc durante el aumento de bitcoin. Seguro y eficiente.

BurtW

legendary

Activity: 2646

Merit: 1137

All paid signature campaigns should be banned.

It is Bitcoin, not Bit coin. Noob. You know nothing. Stick around and READ. Maybe in a few months you might be able to contribute something of value.

lm2f

member

Activity: 82

Merit: 10

Imagine the following scenario:

-world economy crashes
-ALL FIAT dollars are worth ZERO. 0
-bit coin is worth literally nothing because the money that gave it value is gone
-coiner walks into gun dealer and says "I want a gun, I got my bit coins"
-Gun Dealer LOLZ in his face cause bit coin is worth 0
-coiner goes home and kills himself.

lm2f

member

Activity: 82

Merit: 10

Bit coiners always be like:

"Bruh, fiat money is worthless and gonna collapse. Get bit coin bruh"

Okay, so what will bit coin be worth when fiat is worthless?

Can any coiner honestly answer how your shitcoin has value if the fiat money it's valued on is worthless?

It's hilarious because no bit coiner can ever answer this question.

Topic: Why Bit Coin Doesn't Work As A Hedge If Fiat Currencies Collapse - page 2. (Read 287 times)