Curioser and curioser...

I watched a Youtube video bashing bitcoin, it spoke of how things that actually have real value are either indestructible (like precious metals) or barterable (like food stuff or crafted items).  And while I do not deny that those things have more intrinsic value than either fiat currencies or bitcoin, I have to say that bitcoin is more durable than fiat currencies.  [And yes, I realize the video is dubious at best, but it did give me food for thought.]

Follow me here.  A national fiat currency (like the American dollar, the Euro, the Yuan, etc), has value only so long as the nation that backs it exists.  So, for example, when the North beat the South in the American civil war - the Confederate states collapsed, and the Confederate dollar became worthless.  And if you dig back through history you'll see it over and over...  when a national fails, its fiat currency fails.  It has no existence independent of its backing nation.

Bitcoin on the other hand, is decentralized and non-national.  No individual nation backs it.  And if a nation collapses and its native currency becomes worthless - bitcoin will go right on about its business.  So in the range from matter that can be subdivided to the atom (hence "indestructable") to nationally backed fiat currencies...  I think bitcoin is more durable than fiat currencies.

Here's an example:

A guy knows his country is going to collapse and buys all the bitcoins he can before his fiat currency becomes worthless.  If he can escape his collapsed country and make it to a stable one...  he can cash in his bitcoins for their currency and be back in business.  The buying power of the bitcoin would outlive his country and continue to have value, even if the currency he used to buy it ceased to exist. And why?  It's decentralized and non-national.  No nation owns it, and no single nation backs it.  Its independent of them.

So as long as it is used and exists in cyberspace - it has worth, and can conjure your money back from the ether even past the end of your nation.  Sounds pretty durable to me.   (I won't say indestructible - all the software and infrastructure must be in place.  But since the internet was designed to survive and route around a nuclear attack...  I can say nigh indestructible and feel pretty secure about it.)