Quote from: rathaha10 on March 31, 2020, 02:34:07 PM

When there is crisis, people will always choose FIAT over any cryptocurrency because of the various vulnerabilities associated with the use of cryptocurrency.

What vulnerabilities does crypto suffer from? That it can't be printed out of thin air by the government? That it can't be rapidly devalued, causing huge losses to the average person so the government can bail out some multi-billionaire banks, airlines, restaurant and hotel chains, etc. Sounds pretty good to me.

Quote from: kryptqnick on March 31, 2020, 03:35:41 PM

I said I worry it might be too much, and since the US is already not in the best position with that debt to other countries plus the world economic crisis is saying 'hello' already, it can trigger an unexpected decrease of the dollar's value (meaning its purchasing power) or even lead to hyperinflation at some point.

The US is in a terrible position. Going in to 2008 the Fed had a relatively small balance sheet of around $900 billion, and interest rates were at 5.5%, giving plenty of scope for them to be reduced. Going in to this recession, which is likely to be more severe than 2008, the Fed already have a balance sheet of well over $4 trillion because they haven't been able to reduce at all in the last 12 years, and interest rates are already at 0%. Add to that a growing national debt and a growing budget deficit. The dollar's value has been on a steady decline for over 100 years. This will only accelerate it.