Quote from: Ultegra134 on May 25, 2024, 08:48:32 AM

Quote from: harapan on May 22, 2024, 02:30:24 AM

The truth is that cryptocurrency are viewed as high volatile in some regions of the world and they hesitate to apply the necessary actions that'll interrelate with the severe instability of their country.Whereas,some citizens consider bitcoin as a safe haven for them and the right tool to secure a safe adventure.

Unstable hyperinflation disrupts the value of people's savings and undermine economic activities.One of the claims from Bitcoin maximalists is that Bitcoin will be a hedge against inflation.The key point here is that while some HYP may last many years,its potentially a good hedge against that but that doesn’t make it a good investment at the time of such emergence.
Emerging unfavorable markets are adopting are causing people to adopt cryptocurrencies at a rapid pace.

But that's the truth, though, isn't it? Don't you remember the backlash El Salvador received when Bitcoin crashed below $20,000? They had bought at a significantly higher price, and the whole nation was practically in debt due to its Bitcoin acquisition. It could have had detrimental effects on the government and in the country as well, as they could have gone bankrupt, and it would shut down any further discussions about Bitcoin becoming legal tender in any other country, as El Salvador would be a prime example of failure for cryptocurrencies. Fortunately, none of these happened, and I'm guessing their economy has seen a boost due to the current price increase, but its volatile nature can be both a blessing and a curse.

Their economy has improved significantly, but that is because Nayib Bukele has found a way to improve social security and boost the economy in many different ways, they do not rely entirely on bitcoin investment to improve the national economy. I remember Nayib Bukele once said they only used a small part of the national budget to invest in bitcoin and if it failed, it wouldn't have a big impact on them.

Bitcoin is just a volatile asset, a financial market, it's funny that some people think that if they accept bitcoin then inflation will go away. Or even if bitcoin becomes a currency, how will inflation disappear if people do not work and do not increase their income?