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> 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
by dmitriid 5y 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 5y agoVolatility!=Inflation
- biorach 5y agoHyperinflation 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 5y agoFrom the point of view of people who live with a volatile currency (aka highly inflationary) it doesn't really matter, does it?
- adolph 5y agoGiven 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 5y agoOnce 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?