A portion of US population is rapidly going bankrupt:
Average mortgage is $2300/mo
Average rent is $1700/mo
Average household income is $70K (which is probably about $55K or less after taxes, give or take).
See some affordability numbers here:
https://www.youtube.com/watch?v=VqPcil1HX-YAverage Social security payment for seniors is $1700, so if they rent, then they have no money left, literally...a straight path to homelessness:
https://www.wsj.com/economy/housing/why-more-baby-boomers-are-homeless-2d2b913bFor younger people: $1700 rent (and much more in some cities) plus $300-400 student loan=$2100/mo=25K a year out of average 54K (44k after taxes) salary for a 25-34 year old.
The result: not much left after buying groceries and a car payment, maybe almost nothing, and this is in a supposedly richest country in the world.
Conclusion: it looks like the society will be changing soon...much less prosperity, more suffering.
Can bitcoin strive when large swathes of the population become desperate?
Maybe it can (citadels?), if elites would choose it for capital preservation, but I sincerely doubt truly mass participation by the rest of the populace as they simply don't have money to invest while living paycheck to paycheck (apparently 61% are those).
The current trends will soon make a huge chasm between the top 5-10% and the rest.
Imho, the society would start to resemble the preindustrial (feudal) age: almost everyone would be either rich or poor with almost no middle class.
Unfortunately, bitcoin cannot prevent this and it could even hasten the transition through no fault of its own: everything else would just sink and bitcoin would remain.
