Quote from: Ozero on April 07, 2023, 06:16:53 AM

Quote from: kickea on April 06, 2023, 10:42:00 PM

What happens to the value of bitcoin if the dollar goes to 0? Will bitcoin also loose value because the dollar is worthless? yes, there would probably be other things to mind like world war, full panic, no internett and so on. But set these things aside. How much would a sack of potatoes cost, and with what could I buy these potatous witth(gold/bitcoin/chickens/etc.)?

Any ideas? and any ideas on how bitcoin could be independant of the dollar, or other fiat?

If the United States as a state continues to exist, then its national currency - the dollar cannot fall to zero, that is, it will absolutely depreciate. The United States has huge material reserves, a huge economy and this will not allow the dollar to depreciate. But if the dollar for some reason falls sharply in price, this should not significantly affect bitcoin. Because bitcoin is not tied to the dollar in any way. It’s just that bitcoin will practically cease to be valued in dollars and will be valued in other successful fiats - euros, pounds, yens and even yuans.

USD is an extension of the US's military strength, essentially. Take all of the natural resources the U.S. has and that isn't enough to sustain USD as a powerful country with strong currency. We've seen currencies that are tied to natural resources. When the price of those commodities drop, so does the currency. Venezuela is a perfect example of this, being one of the richest countries in the world until oil's price fell. USD is resistant to such fluctuations for the reason they have the largest military presence in the world.