I just want to gauge everyone's knowledge here (please don’t do too much research).
I would like to hear your thoughts based on your existing knowledge and intuition.
How do you think Bitcoin can help countries experiencing hyperinflation such as Venezuela, Zimbabwe, and more recently, Sudan and Lebanon?
We (bitcoin enthusiast) often preach that investing in Bitcoin is a hedge against inflation.
If inflation is the main problem in these countries, how do you think Bitcoin could help solve their economic crisis?
Bitcoin cannot solve the hyperinflation into those specific countries. But personal economy and individuals there can live a better life if they've got an asset that is a hedge against inflation. Just because an individual holds Bitcoin, they can flee from the hyperinflation that they experience. No, it doesn't go like that. Because just like what planting is, so as investing in Bitcoin does. I've watched a lot of documentaries about these countries that experiences hyperinflation and the very solution of each family there is to have someone work for a country that has a better economy and number one choice of theirs is with USA. The US dollars that their relative earns is sent to them and that's how they fight hyperinflation. And shops there in Venezuela are accepting USD despite not declared as a legal tender but it helps them avoid paying too much paper on these shops.