If the dollar hyperinflated in an economic crisis there would still be payments for social security and welfare. Devalued, but the payments would continue. However there would be riots in the streets because it wouldn’t buy anything, and the uneducated/liberal educated masses would demand the government fix the problem.
-at that point “fixing the problem” would likely involve stripping us of our constitutional rights to property, among others... scary time ahead at that point.
Those in the know would want to find refuge in some sort of lifeboat for their wealth, like gold and silver, but they can also be confiscated. Bitcoin can be hidden a million different ways, because the “coin” consists of a 30 or so digit public number or “key”, (for deposited only) and a 40 or so digit key for withdrawal or spending. Keys that are kept on privately kept wallets, or a piece of paper, not on a website or exchange are pretty safe.
I know there is a lot of skeptical opinions, and crypto currency is certainly a risk at this point, especially the volatility it has had the last tree months, but the potential is being recognized overseas especially in those countries where the currency is devalued. Coinbase is opening 30k to 100k new accounts every day supposedly.
Its not going to change overnight. And it will never be THE player in the international market. But there is a place for it. And a function where it excels.
It is not for everyone. But when you hear or read someone completely dumping on it, the clearly dont understand its function or uses.
If you substitute a dollar for every argument about bitcoin, there are benefits to each one.