[IdontRememberIt]

My neighbor is Turkish (very good job). We often speak about inflation (because he recently came here and discovered almost zero inflation).

Sometimes he gives me examples of the consequences of high inflation in the little details of daily life. It is scary and frightening.

What people do not grasp is that high inflation kill all planification (even holidays, buy sometime "big" like a TV, meeting with friends, long term subscription, etc).

Because of it the reliability of business decreases as everbody is thinking short term and is acting at the last moment. How can you execute a big project if you do not know if the unpredictible inflation value will make it impossible or even kill your company? How do you handle an order if the customer cannot pay because the price went up? Or if the inflation eats all your margin, what do you do?

And of course I am not speaking about the negative impacts on the general mood, hopes, etc. on people.

[repomies69]

As a BTC holder inflation is great. Prices just go lower. Holiday you were planning will be actually cheaper.

[asjfj9]

No it doesn't. Hyperinflation means that although our BTC is worth more in USD, when we go to exchange our BTC for USD to go on that holiday, we'll need to give up more of our BTC since we need more USD to pay.

It would be much better if there is no hyperinflation. More and more people are moving parts of their money/assets into cryptocurrency. In the long run, holders like us will benefit. We all suffer when there's hyperinflation.

Disclaimer: My wife and I hold a significant amount of BTC in our child's trust fund.

[voisin]

Isn’t the thinking that BTC would increase relative to the hyper inflating currency to compensate for the inflation? So you wouldn’t have to pay more BTC for that holiday?

[leereeves]

In the event of a serious economic crisis, the government would probably confiscate Bitcoin, like FDR confiscated gold during the Great Depression.

(I know they can't actually confiscate Bitcoin that isn't in an exchange, but they can make transacting in Bitcoin illegal after a certain date.)

[smt88]

Exactly right. As long as BTC needs to ramp off into fiat for most spending purposes, it can be banned.

Importantly, it can also be banned if centralized exchanges are powerful enough and do what the government says.