[bufferoverflow]

> People with this same thinking got in 6 months ago and have lost more than 50% of their savings.

Well, nobody guarantees growth, especially short term.

But 50% loss after a 1000% growth is still better for many people experiencing hyperinflation. Bolivar lost more than 90% of its value in the last 6 months [1].

And hey, if you prefer dollars or euros, all the power to you, use them. But I won't, cause I know it's designed to lose value.

[1]: https://i2.wp.com/cdn.investinblockchain.com/wp-content/uplo...

[BoorishBears]

>Well, nobody guarantees growth, especially short term.

But you're focused on long term remember? Long term, the government is the closest anyone can come to guaranteeing growth. If the government can't grow the economy long term, way more is going wrong than just currency, soon enough it won't matter if your money is in beanie babies or BTC, there's going to be a lot of gnashing of teeth.

>But 50% loss after a 1000% growth is still better for many people experiencing hyperinflation. Bolivar lost more than 90% of its value in the last 6 months [1].

Perfect example, who cares if you have all the BTC in the world if you're in a country where there's not even food to buy? So you figured it out and hoarded BTC, did the shopkeeper? Let's even say they did, well did the power company take BTC? Did the power company's stakeholders and employees take BTC? Did those people's bill collectors take BTC?

Because if not, you don't have food, and that's that.

Long term growth of the economy is literally one of the things countries are built on, if it doesn't happen and hyperinflation takes a hold and the currency is down 90% in 6 months, having 10 years of BTC saved up is going to do much.

The people who were rich enough to have a sizable horde of Bolivar could easily transfer it out of the country at the start of hyperinflation, everyone else is SOL. Same with BTC, if you have enough to leave you leave, if you didn't have enough to leave maybe you're even worse off when the power goes out and the mobile networks start flaking and you don't even have loose leaf which could maybe be traded in one day for a valuable currency.

Inflationary currency is designed to "lose value" as the entire country "gains value", hard to call it "losing money" at that point.

[bufferoverflow]

That's a bunch of really strange claims.

> If the government can't grow the economy long term

Governments generally decide policies, and it's private businesses that actually grow the economy. Unless you're talking about socialism, your statement doesn't make sense.

> if you're in a country where there's not even food to buy?

The only country I'm aware with real food shortages at the moment is Venezuela, and the situation is entirely created by the socialist idiots in charge. Thankfully most countries are not going that route.

> and hoarded BTC, did the shopkeeper?

Well, they still can. Nobody is stopping them. Cryptocurrencies are just starting, in my opinion.

> having 10 years of BTC saved up is going to do much

It will do much. They would have more money saved. Which they can use to get out of a shitty country, for example.

> if you didn't have enough to leave maybe you're even worse off when the power goes out and the mobile networks start flaking and you don't even have loose leaf

Maybe. But then your credit/debit cards or ATMs won't work either. Are you advocating holding your money in paper dollars with that argument?

Some cryptocurrencies work over SMS, which doesn't require a data network.

> Inflationary currency is designed to "lose value" as the entire country "gains value", hard to call it "losing money" at that point.

That statement doesn't make any sense. If you made $100, and saved it 100 years ago, it's worth only $3 now. You would be losing money by not investing it. And not necessarily in cryptocurrencies, you can invest into ETF or mutual funds or stocks - almost anything is better than a traditional currency.

[BoorishBears]

I’m usually the one getting annoyed when people play the fallacy card but... this is one contextomy after another.

I’ve addressed every single point you made, you just seem to have intentionally skipped those sentences:

- Taking half the paragraph where I say there’s no power and saying the shopkeeper should horde BTC...

-Saying they should horde BTC to leave when I literally said the same thing and pointed out how if you’re rich enough to leave BTC or Bolivar doesn’t matter, since you’ll have to leave early in the inflation curve to avoid turmoil.

-Saying the sentence about inflation doesn’t make sense then literally explaining exactly what it means like the entire freaking comment before it isn’t literally about investing in the enconomy vs investing in crpyto

I could go on, but I don’t want to waste any more of my time. Good luck with your Monopoly money.

[bufferoverflow]

Ha. Good luck with your guaranteed-to-lose-value money.

And no, you didn't address anything. You just got angry for some reason when I showed the flaws in your arguments.

[BoorishBears]

Imagine having this poor an understanding of money, sad.