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by repomies69 1701 days ago
As a BTC holder inflation is great. Prices just go lower. Holiday you were planning will be actually cheaper.
1 comments
asjfj9 1701 days ago
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.

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voisin 1701 days ago
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?
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leereeves 1701 days ago
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.)

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smt88 1701 days ago
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.

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