Quote from: NicosUK on April 17, 2020, 05:51:22 AM

Unless everyone believes government printing money will be a better safe haven versus a fixed amount of asset like bitcoin or other cryptocurrency. Fiat will always cause inflation, while BTC will continue to grow in value coherent or at a higher growth than inflation.

Exactly. The more money is printed by governments worldwide, the higher the inflation will of Fiat will be. I don't get why so many people are still trusting Fiat above anything else in these times of need, as it should be less valuable than it was before. I guess that there is a lot of misconception of how Fiat truly works in the mainstream world. Smart people will choose Bitcoin and Gold than Fiat since they're "safe-haven" assets in times of turmoil. The pioneer cryptocurrency is still in its very beginnings, as there is a lot to build/improve upon it. On the other hand, Gold is much stable and trusted by many people worldwide. Both Bitcoin and Gold are very similar due to their extremely limited supply. Anyone who's looking to secure his/her capital, would quickly resort to Gold or Bitcoin to be prepared for desperate times like the ones we're facing right now.

In the meantime, people will continue to rely on Fiat for daily payments. Even with social distancing, the average person can still make use of Fiat online with the help of credit/debit cards or a payment processor like PayPal. We need to give Bitcoin more time until it matures enough for the mainstream world to use. Remember, the crypto market is still small compared to traditional markets like stocks and precious metals. More liquidity and regulations are needed (aside from development and innovation in the space) in order to make Bitcoin in-par with other asset types. As long as we work together to make the crypto world a better place, the time will come when many people worldwide will resort to Bitcoin as a "safe-haven" asset against the traditional banking system of today. Just my thoughts Grin