Post
Topic
Board Economics
Re: Hyperinflation - Will it lead Countries to Adopt Bitcoin?
by
darkangel11
on 17/05/2024, 19:59:35 UTC
Once the investors of bitcoin get wealthy and ~~
That's a double edged sword.
Another way of looking at this is bitcoin can make a lot of people poorer, specially when they look at bitcoin as a tool "to get wealthy". What we call "weak hands" consists of such people in general. For example they buy bitcoin at $40k and then panic sell at $35k just because there was a correction then buy back at $50k just to panic sell at $45k.

Investing, just as any other thing in this world is not made for everyone. I wouldn't feel bad for them nor would I blame bitcoin for their losses because such is life.
Even children are not for everyone. Most people will take care of them, but some parents turn out to be pedophiles, or leave their children to starve while they're getting drunk.
If someone is a weak hand panic seller, he's not an investor material and you could give him some money for free and he'd eventually lose it. Now imagine what such person will do under real pressure that can be created by taking a loan to invest in bitcoin and seeing the price lose 10% in a day.
Back to the topic, bitcoin can be adopted, but I doubt that people will see it as a currency. They'll rather see a store of value and that's what countries and pension funds want. They'd rather have a deflationary store of value than a stable currency.