Quote from: Charles-Tim on September 15, 2021, 07:46:32 AM

Quote from: Coyster on September 15, 2021, 05:28:22 AM

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.

It is actually a good news for Bitcoin enthusiasts in this regard, bitcoin can easily be converted to with fiat, also bitcoin can be converted to fiat when needed fiat, the last thing I can never do is to hold my country's fiat which is even more depreciative than USD, I only have the ones I want to spend monthly with me. So if my country fiat has depreciated which is always the case, I gained when I am converting bitcoin to fiat.

My point is not that Bitcoin isn't a good hedge to fiat especially when it's facing serious inflation like it is now in most countries of the world, what I'm saying is, generally Inflation is not a good thing for us, even if we're Bitcoin enthusiasts/users, you wouldn't want your country's fiat currency to face hyperinflation, why because you'll still have to buy things with fiat even if you hold in Bitcoin, you'll convert back to fiat every now and then and would have to spend your funds, thus if prices of commodities are then high, you'll also still bear the brunt of it, a much better economic condition is even best for Bitcoin in my opinion.

Quote from: Kittygalore on Today at 06:52:36 AM

If you don't have any crypto though, and a substantial or considerable amount in that case, you're fucked because if inflation goes up and you still have fiat, you're money will have lesser purchasing power and remember that they're still fighting over increase in wages there and so far the pro increase wages is losing their foothold.

We must not make people feel this way, I think with or without Bitcoin people will survive, Bitcoin is great in retaining the value of peoples funds, but there is quite a lot of problems in the world atm, with unemployment and all, this somewhat doesn't afford people the opportunity to think about Bitcoin or any other investment option for that matter. It's just like people who have they desire to start one business or the other, but lack the necessary capital to do so, if government can solve the problem of unemployment and tackle inflation, then people can prolly have enough to sort out their basic needs and still have that extra on top of it for Bitcoin or any other investment of their choice.