Until the point that nobody wants to be the USD bag holder.
Plenty of boomers still don’t think of saving USD as a terrible idea because they were trained their whole life to have faith in it. They are being robbed in plain sight, sadly. But younger generations won’t put up with it.
Most people already don't "save" USD. They save equities and then trade them back into USD when it's time to retire. I don't see how BTC changes this other than adding another equity to the list of stuff you can invest in.
With sound money, people could work and save without needing to constantly gamble just to maintain buying power.
If bitcoin replaces fiat, bitcoin becomes the main representation of value. It no longer goes up against a trading pair of fiat. I speculate that its buying power would stabilize and become fairly static.
> Let’s assume BTC replaces fiat (USD)
If BTC replaces fiat, I don't believe it would increase in buying power at a rapid rate. I think it would gradually increase in buying power over time only because the total supply will gradually shrink due to lost coins / dust /etc.
They'll see it as this thing that the old people are all hoarding, and they'll have none of it... Why sign on for an uphill battle for BTC over any other token?
Seems to me that crypto projects should have tangible side effects, so that future generations can value them (or not) based on whether they want to see more of those effects. Compared to that, a fat BTC wallet in cold storage looks like somebody who sucked value out of their community rather than reinvesting it to make positive changes. Why reward such a person by valuing their tokens?
Apparently yes, a bunch of people are buying cars now at temporarily inflated prices when prices are expected to tank
https://autos.yahoo.com/analysts-warn-possible-used-car-1510...
If you mean to say it's not deflationary because there's a limited amount of it that doesn't technically decrease, that doesn't help.
First, Bitcoin does lose coins over time. When wallet keys are lost, or "dust" happens, that means that money can't ever be spent again. This is independent of the USD value.
Second, the economy can grow. Eg, if the population grows, or a factory starts producing more goods, then there's now more stuff per unit of currency. That's still deflation.
That's exactly what happens with computers and, last I heard, computers are still being purchased.
I'm not sure whether you're opposed to the USD compared to other currencies, or cash in general opposed to stocks/bonds etc. For the former point, the US military's strength* ensures that the dollar is likely to stay the strongest of currencies even in a medium-term environment (say 50-100 years in my estimate), with only the Euro coming close.
For the latter, I don't think that was what the earlier posters were talking about.
* I'm not saying spending so much on the military is necessarily a good idea, neither am I a US citizen