4 ms·

HN is heavily affluent and westerner-skewed, but how about when you have a corrupt government and highly inflationary currency? We often praise projects that m

HN is heavily affluent and westerner-skewed, but how about when you have a corrupt government and highly inflationary currency? We often praise projects that morph from their intended purpose in to something else (e.g. a good % of tech out there).

kuschku 4y ago
Then monero is what you’ll want to use. Not ETH, BTC, or NFTs.
SamoyedFurFluff 4y ago
My understanding is that in those circumstances the people move to US dollars.
dmitriid 4y ago
> a corrupt government and highly inflationary currency As a sibling comment said, they move to a separate able currency like dollars or Euro. No one in their right mind will move to a fantasy token whose value oscillates up and down every second, sometimes to within several orders of magnitude. Bitcoin's price fluctuation in the past year is 200% Etherum's is ~300% Monero, 330% It's not as bad as Venezuela's or Zombabwe's hyperinflation, but no ine in their right mind would use a currency this volatile.
- adolph 4y ago
  Volatility!=Inflation
  - biorach 4y ago
    Hyperinflation is one-way volatility. In either case the value changes rapidly making the "currency" in question useless as a long-term store of value.
  - dmitriid 4y ago
    From the point of view of people who live with a volatile currency (aka highly inflationary) it doesn't really matter, does it?
    - adolph 4y ago
      Given Bitcoins overall direction compared to the dollar, it appears deflationary (worth more over time) rather than inflationary (worth less). https://www.statista.com/statistics/326707/bitcoin-price-index/ https://www.statista.com/statistics/326707/bitcoin-price-ind...
      - dmitriid 4y ago
        Once again, you're completely missing the point. Yes, it's both deflationary and volatile. What part of "300% value swing over the year" do you not understand?

4 ms·

HN is heavily affluent and westerner-skewed, but how about when you have a corrupt government and highly inflationary currency? We often praise projects that m

by jiscariot 4y ago

kuschku 4y ago
Then monero is what you’ll want to use. Not ETH, BTC, or NFTs.
SamoyedFurFluff 4y ago
My understanding is that in those circumstances the people move to US dollars.
dmitriid 4y ago
> a corrupt government and highly inflationary currency As a sibling comment said, they move to a separate able currency like dollars or Euro. No one in their right mind will move to a fantasy token whose value oscillates up and down every second, sometimes to within several orders of magnitude. Bitcoin's price fluctuation in the past year is 200% Etherum's is ~300% Monero, 330% It's not as bad as Venezuela's or Zombabwe's hyperinflation, but no ine in their right mind would use a currency this volatile.
- adolph 4y ago
  Volatility!=Inflation
  - biorach 4y ago
    Hyperinflation is one-way volatility. In either case the value changes rapidly making the "currency" in question useless as a long-term store of value.
  - dmitriid 4y ago
    From the point of view of people who live with a volatile currency (aka highly inflationary) it doesn't really matter, does it?
    - adolph 4y ago
      Given Bitcoins overall direction compared to the dollar, it appears deflationary (worth more over time) rather than inflationary (worth less). https://www.statista.com/statistics/326707/bitcoin-price-index/ https://www.statista.com/statistics/326707/bitcoin-price-ind...
      - dmitriid 4y ago
        Once again, you're completely missing the point. Yes, it's both deflationary and volatile. What part of "300% value swing over the year" do you not understand?