Hello good people.
I'm reading about all this cryptocurrency for a little while now (hard not to its all over and everywhere) and I got some questions that I could not find a satisfying answer.
1. There is no question about Fiat money (whatever it is $, £ or euro.) thats its losing it's value, so the question is. If it got no value what value Bitcoin have then ? ( i will use bitcoin for must common crypto but thinking of any). Can't get my head over it.
2.If you imagine in let's say 20 years FIAT goes to CRYPTO all the way. You want to buy a car worth $5000 but paying in Crypto, how much would you pay ? if $ got no value.
Maybe answer is simple for some of you. Please be good samaritan and share some knowlage here.
Thanks for any effort.
From your question above it is assumed that fiat lost its value or fiat lost on this earth. The loss of fiat certainly has its cause. If the cause is the use of intrinsic money made from precious metals, then bitcoin will be compared or measured with a unit that replaces the fiat money. If fiat is lost from circulation because its existence is replaced by bitcoin then bitcoin will become a new unit of price measurement, so all goods will be compared with bitcoin to determine the price.
Talking about the loss of fiat value is the same as eliminating dollar dominance. The only possibility that can shift the dominance of the dollar is the intrinsic gold-based currency. But the move to shift the dollar requires God's miracle. Because it will crash into a platform with a United States state since the 1940s that has never changed with its Kennan policy. America is consistent in its foreign policy to continue to do hegemony with the aim of maintaining and perpetuating its wealth. Dollar, IMF, world bank are programs owned by America to support the "we want to keep it forever" platform.