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Exactly. That German person could have bought a loaf of bread in the morning for RM1,000 then sold it to his neighbor in the afternoon for RM10,000. There are
by scrumper 9y ago
Exactly.
That German person could have bought a loaf of bread in the morning for RM1,000 then sold it to his neighbor in the afternoon for RM10,000. There are no citizens in Bitcoinland dealing with inflationary prices in virtual bread. Anything you can buy with Bitcoin is priced in fiat, denominated in BTC at whatever the spot rate of the moment happens to be.
EDIT:
> What our German friend didn't realize was that his own currency was (hyper-)inflatory.
He absolutely did. Just like Zimbabweans did more recently.