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Re:China declares cryptocurrency deals ‘illegal’ by arcticbull on Friday September 24, 2021 @11:56AM (#28644136)
No, it won't. It's a negative-sum system that redistributes wealth from new entrants to old entrants and miners. It's a pyramid.

And what exact path do you see a 'dollar collapse'?

Re:China declares cryptocurrency deals ‘illegal’ by olalonde on Saturday September 25, 2021 @07:39AM (#28652318)
Gold and the US dollar, to some extent, fit that characterization as well.
Re:China declares cryptocurrency deals ‘illegal’ by gfodor on Friday September 24, 2021 @12:04PM (#28644238)
Sorry, I'm not going to be dragged into a debate about if/when the collapse will happen. But if it does, your claim bitcoin is a pyramid will look silly, since it will be one of several assets that will be rushed into as a safe haven from inflationary forces. If you want to take the position such a collapse would cause a flight from crypto assets, be my guest.
Re:China declares cryptocurrency deals ‘illegal’ by imtringued on Friday September 24, 2021 @04:41PM (#28647556)
The value of cryptocurrency depends on how much people are willing to provide goods and services in exchange for cryptocurrency. If people are just trading crypto:dollar then a dollar collapse could destroy crypto too.
Re:China declares cryptocurrency deals ‘illegal’ by chii on Friday September 24, 2021 @11:04PM (#28650102)
It the dollar collapsed, but the internet & support infrastructure remained, then people might be more willing to accept bitcoin over dollars.
Re:China declares cryptocurrency deals ‘illegal’ by arcticbull on Friday September 24, 2021 @04:36PM (#28647493)
In the mad max future you describe the only currency will be guns and ammo. Crypto requires a functional power grid and internet.
Re:China declares cryptocurrency deals ‘illegal’ by gfodor on Friday September 24, 2021 @09:27PM (#28649591)
False - there are plenty of scenarios where you have a power grid and ability to reach the Internet and still need to transact illegally to survive.