Who are you referring to with "some people"? Your friend/family, or those famous anti-crypto/Bitcoin on social media? If you want to convince people it will differ based on how opinionated they are and how familiar they are with crypto. I doubt you'll convince people with the reasons you mentioned above though, since even crypto maxi will probably disagree with your points.
At the end of the day, some people already use Bitcoin as an inflation hedge. Services that accept Bitcoin or offer investment services related to crypto also increase slowly. I believe it will stay so you don't have to worry that much. There's no need to convince people that firmly believe crypto will fail, just keep DCA and manage your risk. You don't really have to worry that people won't buy Bitcoin because they don't see it as an inflation hedge, since most of them will likely trade it anyway.
Topic: Bitcoin as an inflation hedge - page 2. (Read 314 times)
The innovation accompanied with bitcoin can potentially pave way for the global prosperity, bitcoin has greatly risen in it's influence, despite that there some people out there that don't still see bitcoin as a good investment, I see the globally economy being reshaped by this digital asset, bitcoin will do this by being an alternative for traditional currency or by totally replacing local currency, I know this may take time to happen, but the actualization is the freedom itself.
If nations don't put in place the necessary mechanism or policies that will improve their economy Bitcoin has little or nothing to do. Bitcoin has the potential of revolutionizing the payment systems of nations to promote freedom and decentralization but it is not the sole solution to the economic problems of the world. For now, Bitcoin will continue to exist with fiat. People will have to choose their preferable payment systems between these two options. If your assumptions about Bitcoin are correct, the impact on the economy of El Salvador should be your example.
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Bitcoins can not be easily manipulated by any central system or institution because of it finite available amount, this digital asset is an excellent store of value, particularly in the state or time of economic woes, uncertainty or inflation.
What high inflation countries need to store their wealth, is bitcoin, because it is not in anyway controlled by inflation spikes.
What high inflation countries need to store their wealth, is bitcoin, because it is not in anyway controlled by inflation spikes.
Since Bitcoin is decentralized, no central government can manipulate it. But some political and economic policies of some economically strong nations such as the US is always affecting the price of the currency. Even the way in Ukraine that led to the rise in the price of gas and electricity, affected the price of Bitcoin last year. Bitcoin will be a potent hedge against inflation for individuals or households.
I think it will not totally replace local currency because government can make rule to make sure the civilian use local currency only. but I think Bitcoin will dominating virtual transaction replacing paypal and etc. bitcoin has a lot of advantage rather than remittance service because it don't need employee to operate , so the operating cost will be lower, even it's only need internet and electricity. although bitcoin is still volatile but it is one of best way to avoid inflation.
I think that's the reason why El Salvador wanted to adopt bitcoins as legal tender in their country and their government supported it until today. looks like their decision was good because we can see that they had good responses and positive results in their economy after they did that. That's why the other countries are willing to do the same but their government seems not unanimous towards it and they happened to not convince by El Salvador's current economy. Perhaps they just need a strong convincing impact where they don't have to doubt that decision and finally be like that country that fully made bitcoins legal tender in their country.
I also follow the news about El Salvador but not much. But honestly, I don't see any positive progress or improvement since they accepted bitcoin as a legal tender. bitcoin is just a highly volatile investment, an asset, how can it help a country's economy go up? a country's economy cannot rely on investing in high-risk assets to get rich and prosperous, not to mention El Salvador buys a lot of bitcoin but at a very high price, meaning they are still losing money.
I think it will not totally replace local currency because government can make rule to make sure the civilian use local currency only. but I think Bitcoin will dominating virtual transaction replacing paypal and etc. bitcoin has a lot of advantage rather than remittance service because it don't need employee to operate , so the operating cost will be lower, even it's only need internet and electricity. although bitcoin is still volatile but it is one of best way to avoid inflation.
I think that's the reason why El Salvador wanted to adopt bitcoins as legal tender in their country and their government supported it until today. looks like their decision was good because we can see that they had good responses and positive results in their economy after they did that. That's why the other countries are willing to do the same but their government seems not unanimous towards it and they happened to not convince by El Salvador's current economy. Perhaps they just need a strong convincing impact where they don't have to doubt that decision and finally be like that country that fully made bitcoins legal tender in their country.
The innovation accompanied with bitcoin can potentially pave way for the global prosperity, bitcoin has greatly risen in it's influence, despite that there some people out there that don't still see bitcoin as a good investment,
If the government can be making a decision in recognising bitcoin to be a reliable investment and currency then every actors against bitcoin adoption will finally be left with no option than to adopt bitcoin for no other reason than not to be left out in bitcoin next opportunities coming and fast approaching, they will be left alone to choose when the results comes out and everyone enjoying bitcoin adoption, while some are just watching this opportunity happening.
I see the globally economy being reshaped by this digital asset, bitcoin will do this by being an alternative for traditional currency or by totally replacing local currency,
Bitcoin is already taking over, but still on a gradual approach and process till people have no choice and if bitcoin has been adopted by everyone, then USD may be an alternative to fiat since fiat currency cannot perform the exciting functions of what bitcoin does.
Correct, but is there anything new that you want to say?
Everyone already know Bitcoin is a decentralized currency, it can't be manipulated, it can be used to store a value, inflation hedge etc, then what? any commodity or asset that the value is increased over time can be used as an inflation hedge, not only Bitcoin.
Everyone already know Bitcoin is a decentralized currency, it can't be manipulated, it can be used to store a value, inflation hedge etc, then what? any commodity or asset that the value is increased over time can be used as an inflation hedge, not only Bitcoin.
The innovation accompanied with bitcoin can potentially pave way for the global prosperity, bitcoin has greatly risen in it's influence, despite that there some people out there that don't still see bitcoin as a good investment, I see the globally economy being reshaped by this digital asset, bitcoin will do this by being an alternative for traditional currency or by totally replacing local currency, I know this may take time to happen, but the actualization is the freedom itself. Bitcoins can not be easily manipulated by any central system or institution because of it finite available amount, this digital asset is an excellent store of value, particularly in the state or time of economic woes, uncertainty or inflation.
What high inflation countries need to store their wealth, is bitcoin, because it is not in anyway controlled by inflation spikes.
What high inflation countries need to store their wealth, is bitcoin, because it is not in anyway controlled by inflation spikes.
I don't think though that countries will go full retard and invest their government's wealth into bitcoin. Gold still take the sport as the go to assets for this government to store their wealth. It has been proven throughout history that gold will be the only one, not bitcoin and any other crypto for that matter.
It's good that bitcoin has slowly risen to become a good asset for us. But it doesn't mean that it can replace fiat, it could be legal tender though, but due to it's volatility, government will have a hard time accepting it.
I think it will not totally replace local currency because government can make rule to make sure the civilian use local currency only. but I think Bitcoin will dominating virtual transaction replacing paypal and etc. bitcoin has a lot of advantage rather than remittance service because it don't need employee to operate , so the operating cost will be lower, even it's only need internet and electricity. although bitcoin is still volatile but it is one of best way to avoid inflation.
Bitcoin is indeed a great invention of mankind, but it is not something so divine that can solve all problems in the world, so don't be too delusional and we need to be realistic. You and I, and many others come here for profit, so you need to be realistic about where you stand and what to do to avoid unnecessary losses instead of the illusion that bitcoin will replace the system of world currency or save the world.
If you already know bitcoin is an inflation hedge, accumulate it as much as possible to save yourself, you need to save yourself before thinking about saving the world.
If you already know bitcoin is an inflation hedge, accumulate it as much as possible to save yourself, you need to save yourself before thinking about saving the world.
I see the globally economy being reshaped by this digital asset, bitcoin will do this by being an alternative for traditional currency or by totally replacing local currency
It won't happen anytime soon, stop being delusional about that idea of replacing local currency with bitcoin. Typical government system won't allow it.What high inflation countries need to store their wealth, is bitcoin, because it is not in anyway controlled by inflation spikes.
In direct way, of course. But it is affected indirectly in many ways, and you will think it is not effected as inflation hedge. 
I see the globally economy being reshaped by this digital asset, bitcoin will do this by being an alternative for traditional currency or by totally replacing local currency
Stop please!Bitcoin won't be able to reshape any national or international economy and it won't replace all national fiat currencies or local currencies. National economy is shaped and reshaped by their government not by Bitcoin or Bitcoin communities.
Your post contains a view which is stronger than Bitcoin maximalists' view on Bitcoin future and its potential achievements.
What high inflation countries need to store their wealth, is bitcoin, because it is not in anyway controlled by inflation spikes.
When a nation is in a high inflationary crisis which is a death spiral. Government only see that they have only one option that is printing more money but we know, it is a death spiral.Even if that government has to resign, a new government will not have many doable things to improve their national inflationary crisis as it already deeply affected many aspects in the nation which won't be resolved after one night and by a single change.
What high inflation countries need to store their wealth, is bitcoin, because it is not in anyway controlled by inflation spikes.
Central entities can't directly manipulate or affect Bitcoin's protocol, but bitcoin's price can definitely be affected by inflation rates and economic news in general. We've seen this time and time again since the past 2-3 years when we get weekly/monthly updates from the Federal Reserve.
The innovation accompanied with bitcoin can potentially pave way for the global prosperity, bitcoin has greatly risen in it's influence, despite that there some people out there that don't still see bitcoin as a good investment, I see the globally economy being reshaped by this digital asset, bitcoin will do this by being an alternative for traditional currency or by totally replacing local currency, I know this may take time to happen, but the actualization is the freedom itself. Bitcoins can not be easily manipulated by any central system or institution because of it finite available amount, this digital asset is an excellent store of value, particularly in the state or time of economic woes, uncertainty or inflation.
What high inflation countries need to store their wealth, is bitcoin, because it is not in anyway controlled by inflation spikes.
What high inflation countries need to store their wealth, is bitcoin, because it is not in anyway controlled by inflation spikes.
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