Hyperinflation in USA. Funny seeing people (especially Americans) almost joyous about prospect of hyperinflation, despite the fact it would literally wreck america’s way of life. Bitcoin may help, but its not going to prevent your life changing for the worse in my opinion

Cryptocurrency News and Public Mining Pools

Hyperinflation in USA. Funny seeing people (especially Americans) almost joyous about prospect of hyperinflation, despite the fact it would literally wreck america’s way of life. Bitcoin may help, but its not going to prevent your life changing for the worse in my opinion

I know it’a funny to talk about the money printer going brrrrr but aside from the fact I don’t think hyperinflation will happen anytime soon in USA due to USD’s reserve currency status, which is diminishing but still accounts for over 60% of global trade, I find it laughable seeing people at times almost willing it on. I realise none of us can influence the money printing and we can only do what we can to protect ourselves, but bitcoin alone isn’t going to solve your problems if hyperinflation were to happen. Aside from the global shock causing havoc in markets worldwide, the invariable sudden drop in military spending will create opportunities for big countries and unfriendly countries potentially being more aggressive, and then there is the fact that due to the way BTC is taxed, rapid growth due to inflation will be ravaged by taxes if you try to spend it, which you’ll have to as cash will devalue too quickly.

I want crypto to succeed and grow, but not because major western countries suffer hyper inflation as even with crypto, we all probably lose.

submitted by /u/paulosdub
[link] [comments]

Facebook Comments