Post
Topic
Board Economics
Re: Inflation soaring in US and other countries gives good prospect to bitcoin
by
Coyster
on 15/09/2021, 05:28:22 UTC
I was aware that after all the money printing and giveaways during the COVID was just delaying the payment of the crisis ´till a moment in which the economy could possibly take better care of it. However, it was certain that the true cost of the crisis was not being paid.
Well, in my candid opinion the money printing which happened during the heat of the pandemic was a sort of 'necessary evil' and tbh I don't blame most governments for that move, even though it was not a wise one, but they were afforded only very few options. People could not go to work, many who couldn't work from home were more or less not earning, I feel the government needed to do something to support people and to stimulate the economy back to work by putting money into people's hands. It's a move that has and will still cause high levels of inflation, but at that time I consider it something that was necessary, what the government need to do now is to map out measures to tackle inflation or at least reduce it to a minimal level.

Having said that, some economies were in a bad shape and were struggling with inflation even before the pandemic, the pandemic only made things worse which all of us can understand, I believe countries with a stronger economy before the pandemic would not slip totally into hyperinflation, they will still fight their way out of it, cause in my opinion a pretty bad economy pre pandemic would only get worse now the pandemic is to an extent being brought under control, whilst a viable economy before the pandemic would struggle, but will bounce back up quicker than others.
This is bad news for most, however it is good news for bitcoin that benefits from inflation and loose financial policies. Keep hodling!
I don't know if it's good news for Bitcoin enthusiasts, cause we all reside in one country or the other, Bitcoin is not at mainstream adoption yet, meaning fiat remains the most popular method of payment for most of us, if hyperinflation is the case in the country we reside in, then the cost of living goes high, prices of goods skyrockets, fiat currency gets devalued, thus whenever we exchange our Bitcoin back to fiat for one reason or the other, it affects us.