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.)?
That's an interesting thought experiment. For the value of the dollar to go to 0 there would be some very bad situation before, likely could be that the US government prints so much Dollar that they become worthless, or the inflation starts to go into hyper inflation also making the value of 1 USD to drop to 0. Alternatively the US economy could collapse and also making the currency to collapse. The question then would be if consumers start to switch to other means of payments, like bitcoin or gold. Trading in gold is not really feasible as most people only own it in form of jewelry which you can't really break down in small parts. Bitcoin would be a great way to make purchases directly between producers and consumers, but I can't imagine want kind of prices it would be. Given that if USA is in economic crisis the rest of world will likely be too, there would be high demand for bitcoins and prices should rise quickly. Probably already for a few Satoshi we could be buying our daily food supplies.