This might be a stupid question but in the event of a collapse of the dollar or FIAT in general, how would Bitcoin's value be perceived?
Right now its value is perceived relative to FIAT but if that just goes to 0 then how is Bitcoin valued?
There won't be any more pairs that state its value its just 1 BTC = 1 BTC but what is 1 BTC right?
And furthermore, in such an apocalyptic event I don't see anyone willingly trading Bitcoins for bread so wouldn't that devaluate it to the publics eyes?
Like the ease of having the option of exchanging Bitcoins to FIAT is what cause its large price movements relative to FIAT no? People just see Bitcoin as more valuable than FIAT and that value is show in pairs relative against FIAT, but that does not necessarily mean that Bitcoin is a valuable in general, its just more valuable than FIAT, as an investment.
In conclusion, would Bitcoin devalue following a collapse of the FIAT system and how would that value be perceived??
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