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Reply to "what happens when fiat currency/USD is killed or weakend? "
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[quote=Anonymous]It only comes into play when dealing with goods where an exchange to another currency takes place. Many of the vital needs come from USD-denominated sources, like food, water, electricity, gas. Yes, we import a lot, in particular products. Those may go up in price, but we can survive without them or be ready to pay a higher price for them. Also remember -- in order for the USD to fail, there needs to be a viable alternative. It's not the EUR, it's not the RMB (Chinese Yuan), it's not the British Pound. What is it then? It's not Bitcoin either, with a maximum transaction capacity of 7 transactions per second. The US credit card system currently does about 1,700 transactions per second to put that in perspective, with a maximum of about 65k transactions/second. [/quote]
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