Nik
If one is able to buy sandwich for xmr, surely it would make less sense to cash out for usd

i mean the unit of account, wr measure xmr's value in usd because its the most liquid fiat out there and the most gateways

but if the unit of account collapses then will people hodl and not dump

its like that morpheus meme

or will they exchange their valuable asset for worthless fiat just because the psychological mark like 10k or 50k gets hit

even if its not that bad like.. the dollar devalues 50% overnight

klksksks hagsgs
even if its not that bad like.. the dollar devalues 50% overnight

If devaluation happens at that rate then it won’t be converted to usd (or any other fiat)

i mean value is subjective in the end, people value the dollar and dont have a true perception of its value, if they did.. then btc would be a lot higher

and so would goods and services... it has lost its purchasing power by 50% since 2000

klksksks hagsgs
i wouldnt be so sure

Btc went from 1$ to 20k , did usd buying power go 1/20000 in same period (other than that of buying btc) ?

or something like that

klksksks hagsgs
no, but in the same period the total money supply did skyrocket

Yes but it has been happening for decades now and hence there is so called inflation

and hedonic quality adjustments

but its still supressed by the perception of a lot of people that the dollar has value

I doubt ppl hold usd as their portfolio, they buy assets with it for long term and xmr could be one of them

https://www.cnbc.com/2019/11/01/even-obvious-way-for-buffett-to-solve-big-cash-problem-is-a-puzzle.html

Didn’t he buy stocks (assets) with fiat ? He maybe in fiat at some point of time but he does buy whatever asset he likes when he gets suitable price

ignore the cancer that is cnbc

almost half the crypto market cap

hello, some admin online?

Nik
Looks like they are cashing out of stock markets and expect a correction like 2008?

could be, what i mean is, a lot of people will still believe in the dollar even when its being destroyed just because its embedded into their brains

Nik
You want a fiat currency to have same buying power for decades ?

no, i expect a lot of us to cash out just because the number is ridiculous and then get squashed by the fiat system collapsing

and a lot of people wont even understand whats going on

it happens really fast once it goes down

it just got there first 😂

.......❗️Trading Exchanges❗️......Ticker Code: XMRExchanges:Binance, Bitfinex, BittrexPoloniex, Kraken, Bitmex.................................BitInfoCharts, CoinMarketCapCoinPaprika, MessariTrading View: BTC | USD--------------------------------------------------

klksksks hagsgs
argentina

Ohok, make sense for you to hold crypto in long run

these countries are the test labs for the bigger collapse

Expecting all world fiat system to collapse in a instant is hard to imagine

Nik
Expecting all world fiat system to collapse in a instant is hard to imagine

it wont be slow my friend, i cant say it will be an instant but maybe a week or a month

in 2008 many places were not accepting credit card payments.. i remember that

Nik
What kind of a event would lead to such a fiat collapse ?

you dont think youre witnessing it? theres fiat injections in the repo market every day and theyre getting bigger and bigger.. its QE 4, china is printing trillions and injecting them into their market because of the virus..

interest rates are negative in a lot of countries

europe is going to shit.. 17 trillion negative yielding bonds

and a lot of those bonds are infesting american pension funds

how bout those wage increases