You just moved the goal posts. Typically when a currency collapses it doesn't go to zero it hyper inflates. Your $2 coffee now costs $200 or $2000. In such a situation your $2 XYZ coin is now worth $200, $2000 etc.
Of course if the world goes full Mad Max all bets are off.
Au contraire. We could see 1 BTC hit 100,000 dollars or more. So sure, it would suck. Like a can of soda will be like $20, but any fixed amount debt, like a mortgage, could be paid off easily. Like an oz of gold could be sold for $50,000.
My grandpa survived the depression, and he said “what was strange is that you could have a whole shoebox full of money, and there was just no where to spend it.” What he meant was, because there was no work, there was no stuff. People (farmers) held on to food. Shelves were bare. Noone wanted to sell things for money, they wanted barter for essential goods.
Crypto is valued in euros, pounds etc as well as the dollar.
Is a length of wood worth less because you measure it in meters rather than feet and inches?
You just moved the goal posts. Typically when a currency collapses it doesn't go to zero it hyper inflates. Your $2 coffee now costs $200 or $2000. In such a situation your $2 XYZ coin is now worth $200, $2000 etc.
Of course if the world goes full Mad Max all bets are off.
Au contraire. We could see 1 BTC hit 100,000 dollars or more. So sure, it would suck. Like a can of soda will be like $20, but any fixed amount debt, like a mortgage, could be paid off easily. Like an oz of gold could be sold for $50,000. My grandpa survived the depression, and he said “what was strange is that you could have a whole shoebox full of money, and there was just no where to spend it.” What he meant was, because there was no work, there was no stuff. People (farmers) held on to food. Shelves were bare. Noone wanted to sell things for money, they wanted barter for essential goods.