Quote from: Gyfts on September 24, 2023, 08:48:33 PM

Quote from: Z-tight on September 24, 2023, 07:44:45 PM

Quote from: Tellek Garing on September 23, 2023, 05:45:32 AM

Bitcoin alongside other cryptocurrencies has aided the economic development of many countries.

How has BTC done that, as far as i know BTC doesn't directly help in the general economic development of a country, it can make cross-border payments easier for people of any country and it could also help some people make some profit if they can hold on to BTC for the long term, but BTC cannot bring a country out of inflation for example or better their standard of living. Governments wouldn't even adopt BTC, they'll prefer to print billions in fiat backed by thin air to make inflation better for the short while, and worse in the long term.

I'm a bit surprised at how critical people are with Bitcoin and inflation.

Once inflation has already hit, and the currency someone holds no longer has the purchasing power that it once had, then yes, Bitcoin isn't helpful. However, would someone holding Zimbabwe dollars in 2017 benefit from trading some portion of their dollars in exchange for Bitcoin? Seemingly yes, as Zimbabwe dollar inflation would hit 500% just a year later.

Bitcoin should be used as a precaution for inflation. Certainly citizens of third world countries would benefit from using it, even if it's a small amount. Their currency isn't as reliable as first world currency.

Amazingly, the world refuses to view Bitcoin as a lifeboat in the inflation storm. Your argument has merit. People seem to have blinders on, unable to perceive their fiat currencies' purchasing value diminish. They criticize Bitcoin yet ignore inflation's destruction of their currencies. It seems like a big conspiracy to damage cryptocurrencies' potential.

Zimbabweans had to face a terrible reality, not just supposition. Bitcoin could have protected against hyperinflation. But critics refuse to explore digital currencies' unexplored waters, drowning these prospects with criticism. Bitcoin may protect against inflation, especially in nations where the currency is volatile like a ticking time bomb. People should wake up to the truth.