Quote from: EarnOnVictor on Today at 06:54:17 AM

Bitcoin is an asset, and like other assets could be used as an investment, this is the best way I like people to view Bitcoin, not as a hedge/counter against inflation, or else it might break the heart of many during the bearish season.

Economists have now started adding the clause that asset has their gaining moments and losing moments as well, and at times, when the investor needs the money might be the bearish times, so the gain is not guaranteed. Imagine those who purchased Bitcoin with this inflation-countering mentality in 2021 and needed the money for a crucial project this year. Their lot is obvious even without saying further as they might have lost half of their money by now.

The inflation peg mentality might work in the long term (even though we're still all hoping, there is no guarantee), we should learn how to manage our risks in Bitcoin, people also lose via it.

Bitcoin is mostly associated to the dollar, if the price of bitcoin increases, you don't look at it in your local currency because you immediately look at it's value in dollar and local currency is mostly pegged to dollar and it's the likely currency that you want to have if you want to grow what you own in local currency so I think in a way, bitcoin is a hedge to inflation although it's not a good idea to use it when you're trying to solve inflation on a nation scale, pretty sure that only few people are going to benefit from doing that thing so steer clear.

In regards to how bitcoin can solve inflation in a third-world country, I think that bitcoin wouldn't make any difference or significant change to that problem because most third-world country that's experiencing high and uncontrollable inflation are countries that have incompetent leaders and officials, if you root out corruption and place competent and smart people on the important seats in the government, you can easily see changes but given that not a lot of people has done this in these countries, I am not entirely that purging the corruption might be the solution.