I have a question. Purely theoretical. :) How do you see #Bitcoin in a post dollar collapse era? I often hear gold bugs using this to refute Bitcoin users so Im wondering how you see it? Im not speaking of the grid going down because the Bitcoin blockchain can be kept up-to-date with less than a 2400 baud connection. HAM radio can now keep it going. So Im not speaking of the protocol going down. Lets say it continues to run. Just purely post dollar collapse. The dollar fails, and connections like the euro and most sovereign currency also follow suit. Even Wall Street, ect. Then what of Bitcoin? What happens to the protocol in terms of value? Rothbard explains that in order for money to emerge from a barter economy, it must have a preexisting commodity value. This commodity value arises from barter demand for the potential money in direct consumption (i.e. ornamentation). This value seeds future estimations of the value of the money as a medium of exchange. The natural market emergence of money is thus explained. How do you see Bitcoin as the dollar is gone from the equation? Secondly are we ready? What if the dollar collapsed say six months from now?
Posted on: Mon, 11 Aug 2014 00:30:56 +0000
Trending Topics
Recently Viewed Topics
© 2015