Post
Topic
Board Bitcoin Discussion
Re: How can third-world countries counter inflation using bitcoin?
by
Silberman
on 27/09/2023, 22:44:00 UTC
If we save in local currency, the value of our money will decrease day by day. There are many ways to preserve the value of our money. One of these ways is Bitcoin. It's important to note that when the price of Bitcoin falls, you can't protect the value of your money. If you are a long-term Bitcoin investor, Bitcoin will protect the value of your money and allow you to make a profit, just like before.

When we invest, we also need to know the risks. That's why we need to know every detail about what we're investing in.
Even if someone were to invest in bitcoin at the peak and then they had to suffer the upcoming bear market, bitcoin can still be a better alternative than a fiat currency that is going through hyperinflation, as a currency experimenting 100% inflation per year loses half of its value every year, so even after a few years of a bear market you will still do better than those that just held their fiat, and if the inflation was higher than that then the better bitcoin performs compared to that currency, and when we add that not everything is negative and bitcoin can also skyrocket, then there is no comparison between the two.