Quote from: alastantiger on April 25, 2024, 08:31:49 PM

The bitcointalk forum is comprised of diverse people from all over the world. Our countries' must have gone through inflation as a nation at least once or more since its history. As a refresher, inflation happens when the prices of goods and services rise and people can no longer afford those items because the country's money almost becomes useless. But is inflation needed? Why can't we just keep the currency at the same value? And why does it only happen to money? For example, the same wouldn't happen if we used gold as a currency instead. Is inflation a ploy that the government uses so people don't get rich off of savings?

Fiat money is just a piece of paper or steel alloy that has a way much lesser value than those precious metals like gold and silver the only thing that keep us holding and using it is the trust the government has put into it so we can use it as a store of value. I don't know much about inflation but I think the best thing to do to prepare for it is to hodl assets that are inflation proof like cryptocurrency, precious metals and I think real estate is good as well.