Me and some friends have fun debates on random topics. Lately we’ve been debating on if bitcoin is actually the answer over fiat currency. I’m invested in bitcoin so I stand with bitcoin. However, I didn’t have answers to some of there questions.
Questions:
If bitcoin becomes all things money what would happen if a pandemic hits and the government can’t print money to survive. (Stimulus package)
Since bitcoin is a finite supply, there will be 1 percenters who own 80 percent of the supply.
Inflation is bad but if fiat currency didn’t exist it would send us into a Great Depression if events like covid happen in the future. How does bitcoin solve that?
What will stop the government from printing money through a digitized currency like tether if becomes mainstream?
These are some questions I didn’t have an answer to but couldn’t really find anything on google for. Lmk your answers!
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