RE: The collapse of fiat and rise of cryptocurrencies

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The collapse of fiat and rise of cryptocurrencies

in bitcoin •  6 years ago 

Looks like you do believe Bitcoin will be a safe haven during an economic catastrophe as described in your previous article here. https://steemit.com/markets/@finprep/are-we-in-the-bubble-of-everything
There is good evidence to support that. Like you said, Bitcoin is unregulated which means no sanctions. Truly capable of free trade. Easily transportable in times of crisis/diaspora. Easily concealed in times of confiscation. And at the core, the value is based on faith in the Blockchain. Although there is speculative value added (as with all currencies), the fundamental value of bitcoin lies in people's faith in the entity that backs it. In this case that's the Blockchain and the countless people committed to contributing to it's development. As long as these keep working, Bitcoin seems to be a good refuge in times of collapse.

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