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bitcoin = fluctuation = jumps up and down prices = inflation = jumps up and up

• xadhominemx 9y ago
  if you need bitcoin to buy toilet paper, why not just buy toilet paper
  • thephyber 9y ago
    With what? Zimbabwe has been in a hyperinflation downward spiral for almost two decades now[1]. If you hold your Zimbabwe Dollars overnight, they are only worth a fraction of what they were the day before. In hyper-inflationary periods, people would rather buy goods immediately than hold onto cash because the cash depreciates FAR faster than commodities. [1] https://en.wikipedia.org/wiki/Hyperinflation_in_Zimbabwe#/media/File:ZWDvsUSDchart.svg https://en.wikipedia.org/wiki/Hyperinflation_in_Zimbabwe#/me...
    • CamelCaseName 9y ago
      His joke is that Zimbabwean dollars are toilet paper.
      • xadhominemx 9y ago
        No, I wasn't joking. I was asking sincerely, if you're reason for holding bitcoin is that you want to be able to buy goods next week without worrying about inflation, why not just buy the goods now and avoid the risk of owning bitcoin.
        • craigc 9y ago
          But if you spend all your money on goods and then you need something else in a week or two then what do you use to buy it? Sell/trade the goods you already purchased? I think it makes sense to hold on to some form of currency.
          • lloeki 9y ago
            > some form of currency Which form? At some point Zimbabwe economy was (is?) so fucked up that currency does not hold any value, so barter is all there is. Money literally evaporates overnight: > The peak month of hyperinflation occurred in mid-November 2008 with a rate estimated at 79,600,000,000% per month https://en.wikipedia.org/wiki/Hyperinflation_in_Zimbabwe https://en.wikipedia.org/wiki/Hyperinflation_in_Zimbabwe
            • craigc 9y ago
              Exactly. I meant Bitcoin or other crypto currency
        • rhizome 9y ago
          doesn't work for apples or prescriptions
      • elmar 9y ago
        there have been several problems with clogged pipes on Zimbabwe due to the usage of dollar notes as toilet paper.