reply on: Which brings more peace if it happens in the next 12 months? \ stacker news ~bitcoin

364 sats \ 5 replies \ @kr 28 Feb \ on: Which brings more peace if it happens in the next 12 months? bitcoin

excellent question, i need to think about this before answering

i ended up picking language.

i think if the entire world used bitcoin this year, the scarcity of 21 million would be viewed by most as a reason to not be peaceful

493 sats \ 2 replies \ @south_korea_ln 28 Feb

Very true. If it comes with a full collapse of the value of traditional assets, it would be truly chaotic at first. No chance it'll happen like that though.

0 sats \ 1 reply \ @jeff 28 Feb

Why would value collapse?

If a bitcoin was worth 5x the median salary, a new car would still be worth 0.4x the median salary.

0 sats \ 0 replies \ @south_korea_ln 28 Feb

Sorry, probably not using the right language. I meant it in the following sense:

Fiat worthless compared to Dollar
Housing market going back to its "real" value than its speculative value
Stocks going back to their fundamentals
Etc

Basically, i was thinking of a scenario where the only way to store value is by owning Bitcoin. Housing, stocks, are now mostly seen as investments to beat inflation. This would not happen anymore in the scenario i was thinking of.

But I'm no econ expert, by far. So you can certainly poke many holes in my logic.

0 sats \ 0 replies \ @mallardshead OP 28 Feb

This choice, if I had to choose as the poll forces, given the timeframe, I'd agree with. I replied above to K00b but trying to link it before edit time expires won't let me. That's the longer reply.