Quote from: DaNNy001 on Today at 09:03:20 PM

Quote from: Dr.Bitcoin_Strange on April 06, 2023, 10:45:17 PM

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?

Bitcoin is not Dollar and the problem with dollar lossing value is because it's being excessively printed, where Bitcoin has a limited supply which can never be increased.
The value of bitcoin will increase over time as long as more people continue to adopt it. Apart from the dollar, the devaluation of fiat currency in most countries is so bad that even a thousand dollars cannot be used to purchase many things on the market.

That's exactly the problem with fiat currency, the currency always looses value overtime and this always result to massive inflation in the economy where as bitcoin always reflect the opposite of inflation as more adopt it and that's what makes it very unique. Let me use the fiat currency in my country for example, before now like a decade ago the Nigerian 1000 note can actually get you a bag of cement and some buildings materials but due to the excessive printing of the currency it has lost it value totally as you cannot even get a good meal at the restaurant with your 1000 naira note.

Yeah, and that is a big problem. Lets say you had some sort of mechanism that would give that bag of cement a given value, and it will allways be that value. a bag of cement will allways cost a bag of cement. So if the Nigerian 1000 Note was like bitcoin, it would be more worth in the future because of its deflationary effect. That would mean that in time you could buy two bags of cement 1 for that 1000 Note.