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.
At that point in the scenario that you are describing bitcoin will become the currency of reference for the rest of the world and things will be priced on bitcoin, so how much a car will cost in bitcoin in that scenario? I do not know, but there is something called price discovery and you see it in the markets all the time, investors and traders try to figure out the price of an asset and this is what makes the price to go up and down, as such something similar will happen with all other assets and services around the world, I know this may seem impossible but this takes place all the time already with fiat and it will be no different if bitcoin takes over the economy.