OK, Bitcoin’s value is determined by it’s market cap but what happens in the event of a global financial reset/crash?
Assume all fiat currencies go to zero. What determines Bitcoin’s value? Would Bitcoin go to zero also?
I would possess private keys to Bitcoin but the keys would have zero value unless the people of the world all agreed that Bitcoin was worth ????...what...50 sea shells? Could or would Bitcoin (and other crypto currencies) be assigned a value without any input of fiat currencies or commodities?
As a store of value, putting fiat into Bitcoin at a time of financial collapse would seem to be pointless, yes/no?
Sorry for the apocalyptic scenario but I do believe this is a valid consideration.
MoonJim