Bunch of retards posting here. Bitcoin isnt tied to fiat currency value and floats freely---what a load of bullshit. It would do you all some good to look at the history of the great depression.
In a deflationary environment all asset prices fall as dollars become more scarce.
Bitcoin will not fair well in a deflationary collapse at least quantitatively. Your bitcoins will be valued at a lower rate but may have more purchasing power.
In other words your coins might be valued at 50 usd, but 50 usd might buy 150 usd worth of goods at pre-collapses pricing.
It is very difficult to say how things will play out. The world has never seen a deflation event on a global scale.
Do yourself a favor and watch this then read this guys books.
http://www.youtube.com/watch?v=iquemUNNYY8