Some times I used to feel that if the dollar's value kept depreciating until it really got so bad, that meant it might affect Bitcoin. Because even if you sell your bitcoin for $100,000, possibly, there is nothing serious you can do with the money.

The high rate of inflation is largely due to the devaluation of dollars, and as a result, the purchasing power of money is not really strong. Since the issues emerged from the federal reserve because of the constant printing of money, if the excessive dollars that have been printed can be retracted, at least it can help to make the dollar value go up. Because definitely, even if you hold your Bitcoin for a long time, as long as you will one day convert it to buy something, it will still not be worth much because of how low the dollar value would be.

The problem with Fiat is that the inflation rate is high and that will affect the value of the dollar in the future.
And remember that the government has full control of the dollar, they can print more dollars.
And for the excess dollars will they be withdrawn? it depends on their policy as a government.
Fiat will be affected by high inflation and $100k in the future will not be so big, but 1 BTC=1BTC and it will remain unchanged and will not be affected by inflation.

Bitcoin is the right way out so that it still has value in the future and will not be affected when Fiat is dying.
Bitcoin can be a digital asset that is inherited and will provide more value for bitcoin holders.
it will continue to grow in every generation.
 

You cannot stop people from comparing Bitcoin to fiat currency. The true value of Bitcoin cannot be properly evaluated due to the continuous inflation that diminishes the value of fiat currency. While $100k held great value many years ago, its value has significantly decreased today due to inflation.

Saying that fiat is dying every single day is a bit extreme I would say. Don't jump to any conclusion. If it is dying, it won't happen anytime soon. And we don't actually want fiat to die overnight. Yeah, inflation can wipe off the value of fiat currency over time, but it's not like it's on its deathbed or anything. Measures are taken that would reduce the inflation (for short term, i know..). If fiat does die overnight, it would be a chaos. I doubt crypto would also be able to save us.  Fiat and bitcoin are not mutually exclusive. They will most likely coexist, each serving different purposes. Right now Bitcoin is an investment for everyone, while fiat is the most used currency for day to day transactions.

Thanks again, you are truly one of those who are going to hold bitcoin for a long time. And if I'm not mistaken, you said before that you haven't sell any single bitcoin and you are still accumulating after so many years.

And I do agree that FIAT is dying, just like what we are seeing right now, many banks are going bankrupt, people are withdrawing because they know that their money is not going to worth something because of inflation.

So let's wait for BTC to become $100k or more this next bull run. And diamond hands like you for sure are going to be richer... again.

Not all houses plus car you can use that amount to buy and charge will be left in your hand. though it will go for a long way.



Inflation affect every currency in the world and not only on fiat currency. It affect also bitcoin because since bitcoin can not be use to buy things directly, you must change the bitcoin to fiat current before using it to buy stuff.

OP can you use bitcoin without the fiat currency? When you are advising people, you have to think the both side of the advise. comparing BTC with fiat is worthless though everyone has their own value in their domain.

Yes but when you are dieing what will you do? will you keep your coins there and die go? do well to advise people.

In what time the real needs will come? there is always a need to settle at all time. And if there is no spare cash at hand, then you are to sell it.

It's really hard to compare the value of fiat money overtime without adjusting it for inflation. A 30 year time period is a very long time if you assume a 2% inflation per year. The problem is if you don't invest your money for such a long time and lose purchasing power every year. I still remember in the 90s where 1 million USD was a huge sum and it actually made a difference. Today a family owned apartment in a good neighbourhood can already make you a millionaire, even if you have no money at all in your bank account. It's best to get away from fixed numbers, like saying I need 100,000 USD in my bank account and I will feel rich. It's better to look at your wealth in terms of what you can buy with it. Everything is relative to the price of goods you have to pay. Another solution would be to move to cheaper locations. With 100k USD you won't get far in Singapore, but you will feel like a king in Philippines.

It is true that Fiat currency loses value almost every time but I think it is better to be in the two currencies than one, it is possible to have bitcoin and to have USD because you can never tell.

bitcoin goes up and down and it is the same thing with USD, one cannot really survive without the othe,r I know many people will argue that this is wrong but the majority of Bitcoin holders get into Bitcoin using Fiat currency.

The only currency I won't be getting involved with is CBDC, because this currency is going digital and privacy first, and I won't be surprised to start hearing how people are getting spied on because they use CBDC to fund something.

But Fiat and BTC have the same purpose, yes?  BTC main purpose is being a currency that enables freedom of transaction where there is no need for third party.  it was created to patch the flaw of fiat currency and enable currency be sent without intermediaries and without boundary.  So we really can't avoid comparing this two Fiat and BTC because at some point they have the same feature.


Well, as we can see, we still need fiat currency because Bitcoin is yet to be accepted in most local market.  We can't buy anything if we go shopping and there is no store that accept BTC.  So I agree, that we still need to have fiat currency even if there is high inflation out there.