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?
I see a lot of good ideas here.
The reason for this thread is to explore if there are some other ways to value bitcoin. Like many of you said, it would probably just hop over to the next largest currency. But do we want the bitcoin to allways be dependant on another currency and its inflatory politics? Many of you also said that the dollar will never go to 0 and there is no reason to worry about this. But every currency in the world is loosing value everyday. Therefore bitcoin is also loosing its value. it may be a stupid question, but would it not be better to have another way to value bitcoin so you could allways buy 1 sack of potatoes for 1 satoshi for exampel?
bro, you just dropped a banger of a question about bitcoin. What if the greenback went boom? It would be mayhem! But let's be honest, it's not gonna happen. Bitcoin is a free currency, man. No government or group controls it. It's for the people, by the people. The price of bitcoin is based on how much people want it. So, if the greenback lost all its value, other currencies would step up, and bitcoin could be the next big thing. As for the sack of potatoes, man, who knows how much it would cost in a world without the greenback? But it's gonna be pricey, that's for sure. Time to start stocking up on chickens, amirite?