[badgers]

In 1992 Brazil faced similar inflation numbers (80% per month, or 1156% per year compared to what the article claims 1219% for Venezuela). I'm surprised the author does not reference Brazil in their article. The NPR Planet Money podcast/article does a good job of summarizing the events of 1992 [1].

In the Brazil situation the country had control of both currencies and could set the exchange rate. I don't see how using Bitcoin would eliminate the problem that the country is experiencing: an unstable currency. Most developed countries target around 2% inflation. Bitcoin has not had that kind of stability recently.

Additionally to be a good currency you want people to think in terms of it, e.g. I'm paying for this coffee with 0.005 bitcoins, not I'm paying for this coffee with $5 worth of bitcoins.

[1] - https://www.npr.org/sections/money/2010/10/04/130329523/how-...