Post
Topic
Board Bitcoin Discussion
Re: What if a significant inflation happen worldwide?
by
FatFork
on 13/02/2020, 20:21:17 UTC
The chance is very low to happen a significant inflation unless world war III or worldwide epidemic disease occur. Let's assume any of this happened. Will people likely to switch their fiat currency into bitcoin?

Global inflation (and therefore probably the global recession) will spare no one. It will hit everyone, eventually, from the street sellers to the multinational corporations. In a state of hyperinflation, severe social disturbances occur and the economy does not function at all. People will focus all their energy on meeting basic needs and will lose confidence in the power of any currency (fiat or digital). Money exchange is replaced by trump (commodity exchange).
In the event of such a major global catastrophe, society is more likely to sink into the pre-industrial era. Bitcoin may be independent of institutions and countries, but it depends on other segments of modern society, such as electricity, the internet and IT technology in general.