Quote from: Beliathon on September 12, 2014, 03:04:25 PM

Quote from: bitcoinwilldie on September 12, 2014, 10:34:24 AM

No one really NEED bitcoin, isn't it?

Right now, there are like 206 sovereign nations in the world, each with their own official form of State Monopoly Money. From a volatility perspective, Bitcoin is already objectively superior to about 40 or 50 of them.

If you're living in the USA or Western Europe, Bitcoin probably seems totally irrelevent to your life. After all, the dollar is stable, right? It works, so why do you need something else? The truth is you don't. Yet.

But sooner or later your tune will change when your nation's fiat scrip inflation begins accelerating to disturbing speeds.

Bitcoin is like water - you don't need it, until you do. Fortunately for all you nationalist ingrates, it will be ready and waiting, it will welcome you with open arms when you inevitably come crawling back looking for a safe place to stow your wealth.

It's not a matter of IF you will come with your bowl of worthless fiat begging for Bitcoin, it's a matter of WHEN. We are speaking of a mathematical inevitability here, friends.

Do you understand?

I sure hope it will work like this. Because, if the fiat crash brings down the Internet and/or the electrical grid, most of the people will not be able to use Bitcoin. Bitcoin will be lost just like fiat. People will go back to direct trade and barter until militaries take them over. In the U.S., because of the vast stores of guns and ammo that the people have, things just might be different.

But, if the Internet and the power grid come down, Bitcoin will at best fork all over the place. There will be more Bitcoin fiats than there have been of all the other kinds of fiats through all time. Bitcoin will probably flop just like all the others. At least, people won't trust it any longer.