Post
Topic
Board Economics
Re: Is Bitcoin for “Fake Rich”?
by
StartupAnalyst
on 27/02/2021, 08:24:46 UTC
What is gonna happen once the post-apocalyptic scenarios come true? When/if there will be no electricity, computers, phones, etc.? People will value no US Dollar backed by state promise to pay off debt… your decentralized piece of code will not exist anymore (I do know about some offline-friendly cryptocurrencies)… only gold or natural resources will become valuable again.
While I do know many “Bitcoin evangelists” will probably hate me for the words above, but don’t you think that Bitcoin intentionally or unintentionally became the new asset for the “fake rich”?

In post-apocalyptic world those hundreds of people who will survive will definitely think not about BTC, treasures or dollars, they will think about food, roof over the head and some clothes to wear. But we are not in post-apocalyptic world now. We live in interesting time when people taught how to make money from "nothing". They trade in exchanges, hodl BTC and some stocks and are quite happy that they have profit and don't have to work somewhere on plants or do other dirty work. Are they "fake rich"? Not really. If they can exchange their assets on fiat and buy everything they need for their lives than they're clever people who learnt how to live in this world and in this time.