Post
Topic
Board Bitcoin Discussion
Re: Can you answer a couple of questions to a potential bitcoin buyer?
by
DooMAD
on 06/02/2022, 11:27:32 UTC
I am simply saying that in bitcoin all you have is faith in unknown people. You hope that once you give up the things you can live off of, these people will voluntarily return you the equivalence of such things. With fiat you have the whole banking system and legal enforceability to ensure you get such things back. In what universe is the former better than the latter?

Who needs an entire universe?  I can name countries as adequate examples:

Bolivia, Bosnia, Georgia, Nicaragua, Yugoslavia, Zimbabwe, etc.  

Legal enforceability did nothing to stop their national currencies failing.  You were not able to live off those currencies.  They all became worthless due to hyperinflation.