Bitcoin Forum
July 19, 2018, 02:42:57 AM *
News: Latest stable version of Bitcoin Core: 0.16.1  [Torrent]. (New!)
   Home   Help Search Donate Login Register  
Pages: [1]
Author Topic: Holding Bitcoins during the Dollar or Euro Collapse, a hedge against inflation?  (Read 1187 times)
Sr. Member
Offline Offline

Activity: 364
Merit: 250

View Profile
June 13, 2011, 11:04:08 AM

I find it funny how people talk about Bitcoins as if they are unstable just because the value fluctuates on a single exchange.

WHEN the dollar collapses, or the Euro drops through the floor, holding bitcoins, because they are international and UNSTABLE will allow them to be traded at any price that someone needs, instead of the price that the country's backers decide the value of that local money is worth.

Is this not correct?

If I hold $10,000 dollars in paper or electronic digits in my bank account, and the dollar devalues to 50% of it's worth.....

and at the same time I hold 1000 bitcoins I bought for $10 each, the value of those bitcoins would only go up in relation to the declining dollar, at the time of it's collapse, right? Simply because people in other countries who are NOT tied to the dollar, will be willing to buy them at their countries currently high valued rate, in relation to our dollar, correct?

If I am mistaken, can someone set me straight?


Why does Bitrebel have 65+ Ignores?
Because Bitrebel says things that some people do not want YOU to hear.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
Offline Offline

Activity: 70
Merit: 10

View Profile
June 13, 2011, 01:03:32 PM

the only problem is that in the event of a global economic collapse, I'm not sure the internet would be working for very long.
Kinda difficult to trade/verify bitcoins if the internet isnt there, or is fragmented so badly you cant connect outside your country.

Pages: [1]
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!