Quote from: adaseb on Today at 04:40:32 AM

Quote from: Febo on October 24, 2020, 08:05:54 PM

Quote from: StonksStonksStonks on October 22, 2020, 07:10:40 PM

how many Bitcoin do you need to live comfy in event of hyperinflation?

You dont need any. All that you need to fight hyperinflation is access to Bitcoin any moment. As soon as you get hyper inflating currency you change it to Bitcoin. You dont work to be paid in few months time. You want pay immediately. You try to take a loan and buy Bitcoin so you will pay that loan back in hyper inflating currency and will cost you nothing. Hyper inflation is also an opportunity. Just like anything else in life.

Have you lived in a country with hyper inflation before? Then how do you know its possible to get a loan? Most likely banks aren't dumb and will either freeze any loans or they will charge HUGE interest rates. Basically the interest rate will be higher than the hyperinflation. So high that people will not be taking in any loans.

I don't think there are any positive opportunites with inflation. Sure you can over-charge for everything but what is the point since the money will be useless anyways. Hyper inflation and corrupt countries cause alot of hardship and poverty and is never a good thing.

Yes I did. It goes exactly as I wrote. Of course for short time a year or so inflation was even few 100% a month. So people when got salary went to bank and took out all money in cash. That was in late 80ties so cash was widely used. and outside of bank there was a exchange trader. He exchanged their salary into other currency. You of course was not able to exchange that inside bank. Or you could only to some limit. For sure not whole salary. That exchange guy was standing in front of bank totally safe. What he was doing was illegal, but there was no one to hunt him. Police officer also had to exchange his salary somewhere. If he would put that guy in jail then he could not be able to do it. Loans are usually taken for long term. 10 years or even more. No bank can predict in the future that long. Last payoffs were so low that bank clerk asked my mom if she would like to pay off for last few years at once. Since was so little.

There are opportunities in anything. When Bitcoin was $3000 at early 2019 most people here was crying, for me that was opportunity.