A critic argues Bitcoin will crash to zero as economies collapse, but Mark Moss counters that currency collapses are common and Bitcoin has outperformed gold and dollars as a store of value over 1 to 15 year periods. The two debate what people actually buy when fiat currencies fail.
Anybody who thinks crypto is the future is a moron. I do think Bitcoin will go to zero eventually, especially right now. The USA knows that Russia, China, they've been stacking up on Bitcoin, especially Russia, to avoid sanctions. Whenever the world has an economic collapse, which is coming, you can't print all that money without that happening. Everyone will flock to the US dollar, maybe gold. They're tested time and time again, not going anywhere. Crypto gonna get wrecked. What's gonna—
Okay, so let me get this straight then. Bitcoin is gonna go to zero because the economies are gonna collapse because they printed so much dollars and you can't can't just print that much dollars without the system crashing. That's the rationale. So what happens when we look through history is that currencies collapse all the time. As a matter of fact, they're dropping left and right today. But when the currencies collapse, people leave those currencies because they've collapsed and they go to something different. So the fact that they're going to collapse because they print so much dollars and then people are going to flock to the dollar doesn't make any sense. Now, we could argue if what they're going to flock to is Bitcoin, but the very basis of this argument is wrong. When a currency collapses, people have to move on to something that holds value. And Bitcoin has been the best store of value for 15 years, 10 years, 5 years, 3 years, 1 year. Choose any timeframe that you want.
