Post
Topic
Board Bitcoin Discussion
Re: Chances of BTC surpassing the value of Fiat Money
by
Silberman
on 05/12/2020, 18:29:45 UTC
Sorry if the topic sounds logically flawed I didn't dig much deeper into the financial fantasies of such.

I'm wondering what if one day Bitcoin goes so high up in value that it causes somewhat a fiat crisis? I mean imagine, you've Bitcoins but there isn't much cash available in the market to buy your BTC, or simply put people can't afford it? Will bitcoin be of any value then?
We are already seeing in a very small scale what you are proposing, bitcoin is almost worth 20k, how many people can afford to buy a single bitcoin? Even people in developed countries do not have any savings so they cannot afford bitcoin at all, however that is not going to be a problem for bitcoin, that is going to be a problem for fiat currencies, because as the value of bitcoin keeps growing governments will begin to see that everyone will try to put their money in bitcoin and I think a day will come in which in many countries bitcoin will be illegal precisely because of this reason, but then the will of the people will force governments to change course and accept bitcoin once again.