You need to have it in your mind that Bitcoin can nit replace local currency and is no way going to benefit the economy of any nations. Different nations want there currency to be the strong causing for competition in exportation and industrialization. Bitcoin can be an alternative currency for anyone of us but I don't think a country will allow Bitcoin to replay it local currency when it is obvious that Bitcoin is very volatile in nature. A stable currency is what is needed for a country's currency to be strong and resistance to some financial decisions. This is what had made the USD to be the best option for international transaction.
I don't know of any other country but I think el Salvador has already replaced theirs with bitcoin and since making it a legal tender it has been doing pretty fine and I know it's will take time before any other nation can replicate this but time is something that we all know manipulates and changes things in respect to when MR. TIME is actually ready. Because I believe before now bitcoin itself wasn't as this popular but with time past it has gained population and strong of positivity and possibilities among the general public. 
Topic: Bitcoin as an inflation hedge (Read 317 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. 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.
Actually BTC and other cryptocurencies lack adoption, nearly none of the business projects accept direct payments in crypto, so in case of heavy fiat inflation there can be also inflation of crypto, since exchange hubs would take control over cryptocurrency market, which would eventually lead to crypto inflation. So, in general, crypto might be useful in case of fiat inflation, but the stability of crypto is not guaranteed.
Bitcoin can be used as an alternative but it can never replace fiat currency or any other currency because they have their own value and place. People are regularly using bitcoin as type of investment but they are also using their own country's currency as bitcoin is not acceptable by every country due to some restrictions.
Bitcoin can be used to reduce inflation, Individuals should buy bitcoin but remember that there is a specific timing for selling bitcoin because due to Fluctuations you cannot select all the days for selling your bitcoin as you have to pick your money and profit under particular circumstances.
Bitcoin is used during inflation to overcome such situations but government will never allow bitcoin to replace the currency of a country.
Bitcoin can be used to reduce inflation, Individuals should buy bitcoin but remember that there is a specific timing for selling bitcoin because due to Fluctuations you cannot select all the days for selling your bitcoin as you have to pick your money and profit under particular circumstances.
Bitcoin is used during inflation to overcome such situations but government will never allow bitcoin to replace the currency of a country.
Those who know enough about Bitcoin definitely consider investing in Bitcoin as a better investment platform than investing elsewhere. If you can invest in Bitcoin for a long period of time by observing the market, investing in Bitcoin platform can be relatively profitable compared to other investment platforms. Bitcoin can protect you from financial crisis especially during times of inflation when there is a financial crisis in banks and there is a possibility of bank bankruptcy because Bitcoin is generally not affected by inflation. Those who are aware of this matter believe in bitcoins rather than banks at the moment. Many economists fear that global inflation could wreak havoc on consumers.
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The issue of whether bitcoin is an inflation hedge has been discussed repeatedly on the forum. Surprisingly, there are quite a few people who believe that it is not, something that has been repeated quite a lot during the bear market.
For example, in the last month the price has fallen by 6%. Does it stop being an inflation hedge because of that? No. In the last 6 months it has gone up 24% and in the last 5 years it has gone up almost 400%.
Compare with gold, which has been flat in the last month, in the last 6 months it has risen 3% and in the last 5 years it has risen 60%.
The conclusion I draw from this is that bitcoin is more volatile but more profitable and therefore better at protecting against inflation than gold. What you cannot do is buy bitcoin in the short term, for example for a month, thinking that it will protect you from inflation in that period, because due to volatility you can lose a lot. Buy for at least 4 years and you will be protected.
Your failure is that you do not realise that it is precisely the policies of these countries that lead to inflation. Manirrous governments don't want bitcoin because they can't spend like there's no tomorrow, camouflaging it by printing later.
For example, in the last month the price has fallen by 6%. Does it stop being an inflation hedge because of that? No. In the last 6 months it has gone up 24% and in the last 5 years it has gone up almost 400%.
Compare with gold, which has been flat in the last month, in the last 6 months it has risen 3% and in the last 5 years it has risen 60%.
The conclusion I draw from this is that bitcoin is more volatile but more profitable and therefore better at protecting against inflation than gold. What you cannot do is buy bitcoin in the short term, for example for a month, thinking that it will protect you from inflation in that period, because due to volatility you can lose a lot. Buy for at least 4 years and you will be protected.
What high inflation countries need to store their wealth, is bitcoin, because it is not in anyway controlled by inflation spikes.
Your failure is that you do not realise that it is precisely the policies of these countries that lead to inflation. Manirrous governments don't want bitcoin because they can't spend like there's no tomorrow, camouflaging it by printing later.
However, what @OP said may not be able to be done shortly. Governments haven't used Bitcoin as a store of value, although we don't know for sure. But those who have known Bitcoin for many years have started to store it and sell it when the price peaks.
If the price of Bitcoin is still as volatile as it is now, the government will be worried because the value of their money will continue to fluctuate. That's not good for them because inflation makes them move quickly to anticipate chaos in the country. Maybe the government still uses gold as a store of value because the price of gold is more stable than Bitcoin.
Bitcoin will not replace fiat but will probably work as a payment alternative. And it also depends on each country. So each country will still have its local currency while they can use Bitcoin as an alternative payment for overseas payments. If they don't want, they can still use another.
If the price of Bitcoin is still as volatile as it is now, the government will be worried because the value of their money will continue to fluctuate. That's not good for them because inflation makes them move quickly to anticipate chaos in the country. Maybe the government still uses gold as a store of value because the price of gold is more stable than Bitcoin.
Bitcoin will not replace fiat but will probably work as a payment alternative. And it also depends on each country. So each country will still have its local currency while they can use Bitcoin as an alternative payment for overseas payments. If they don't want, they can still use another.
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.
Actually what makes Bitcoin can't be easily manipulated is not because of limited supply, but because decentralized network where there are no institutions that control it like a bank. We know that if the assets have control and are managed by a third party, Price and the supply can be controlled although limited. But, even has been adopted by developing countries, it's still controllable because their resource has depended on other countries who still control their trade and economy.Actually the bitcoin network is unmanipulable, but the bitcoin price I don't think so. If bitcoin price cannot be manipulated, then why is everyone saying adoption is increasing, demand is increasing but why is the price not rising and even falling even though the halving is approaching?
What high inflation countries need to store their wealth, is bitcoin, because it is not in anyway controlled by inflation spikes.
True, but even have a lot of bitcoin assets and the country is still very dependent on fiat, Inflation will always rapidly rise because it still depends on the policies of other countries where used their currency.Bitcoin is very volatile, so holding a lot of bitcoin will not guarantee that the country will not be hit by inflation. What happens when governments buy bitcoins for $50k and now bitcoins for $29k? To get rid of and prevent inflation, the government needs strong policies to improve the domestic economy, which cannot rely on hoarding bitcoins and hoping to get rid of inflation.
I don’t think anyone right now is looking to buy Bitcoin to hedge against inflation. People pretty much did that back in late 2021 and are holding the bag.
Most likely inflation peaked and you are better off holding government bonds. Most likely you will break even with inflation. Bitcoin is way too volatile as an inflation hedge like late 2021 proved to be.
The best inflation hedge now are government bonds, especially the inflation tracked bonds which follow the average inflation price and pay out as the coupon rate.
Most likely inflation peaked and you are better off holding government bonds. Most likely you will break even with inflation. Bitcoin is way too volatile as an inflation hedge like late 2021 proved to be.
The best inflation hedge now are government bonds, especially the inflation tracked bonds which follow the average inflation price and pay out as the coupon rate.
I see the globally economy being reshaped by this digital asset,
It is impossible for bitcoin to reshape the global economy and stop dreaming. A currency that is limited in supply can't change the inflation rate in the world economy but only the government of each country. 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
Bitcoin wasn't create to replace fiat so I don't think that it will ever happen for fiat to disappear because it is being controlled by the government. Fiat and bitcoin works hand in hand since you need fiat to buy bitcoin and vice versa. Bitcoins can not be easily manipulated by any central system or institution because of it finite available amount,
Yes I agree with you on this but the government can come up with some bad news that will affect bitcoin price which will make the price to dump.What high inflation countries need to store their wealth, is bitcoin, because it is not in anyway controlled by inflation spikes.
You can't store the wealth of a nation in bitcoin because it is volatile and for bitcoin investment to grow it needs patient which the government can never be patient on it because the gobernment needs money to spend on the needs of the citizens and to also generate income. An investor can be patient with his bitcoin investment. 
My opinion is that countries are not meant to keep their wealth in the manner of hodling in relation to Bitcoin. Especially developing countries, they are meant to make the most of their money. Government money should be spent. They should be using the money in the education of their youth, in excellent healthcare, in providing other social services, in building reliable infrastructure, and so on. Governments aren't investors. They are spenders. Underspending or budget surplus at the end of each fiscal year could mean the deprivation of certain people or sectors in the society.
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.
Actually what makes Bitcoin can't be easily manipulated is not because of limited supply, but because decentralized network where there are no institutions that control it like a bank. We know that if the assets have control and are managed by a third party, Price and the supply can be controlled although limited. But, even has been adopted by developing countries, it's still controllable because their resource has depended on other countries who still control their trade and economy.What high inflation countries need to store their wealth, is bitcoin, because it is not in anyway controlled by inflation spikes.
True, but even have a lot of bitcoin assets and the country is still very dependent on fiat, Inflation will always rapidly rise because it still depends on the policies of other countries where used their currency. 
You need to have it in your mind that Bitcoin can nit replace local currency and is no way going to benefit the economy of any nations. Different nations want there currency to be the strong causing for competition in exportation and industrialization. Bitcoin can be an alternative currency for anyone of us but I don't think a country will allow Bitcoin to replay it local currency when it is obvious that Bitcoin is very volatile in nature. A stable currency is what is needed for a country's currency to be strong and resistance to some financial decisions. This is what had made the USD to be the best option for international transaction.
While there is nothing wrong with Bitcoin maximalists dreaming of bitcoin becoming the official currency that replaces existing currencies. But as you say, that will not happen because it is not beneficial to the national economy, on the contrary, the volatility and uncontrollability of bitcoin will make that country's economy default faster. People always say that el Salvador has accepted bitcoins as currency and they are growing. But that's not true, el salvador still uses USD as their primary currency, bitcoin is just a side alternative, it has never been the only currency. Governments need to control their country's currency, if they lose control it means they lose control of their economy.
You need to have it in your mind that Bitcoin can nit replace local currency and is no way going to benefit the economy of any nations. Different nations want there currency to be the strong causing for competition in exportation and industrialization. Bitcoin can be an alternative currency for anyone of us but I don't think a country will allow Bitcoin to replay it local currency when it is obvious that Bitcoin is very volatile in nature. A stable currency is what is needed for a country's currency to be strong and resistance to some financial decisions. This is what had made the USD to be the best option for international transaction.
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.
This is applicable if and only if Bitcoin becomes stable in its up-trending market. But if Bitcoin value becomes stable in going downtrend then can you say that it is an inflation hedge? Although we know that its coins max supply is capped, its value is still dependent on its conversion to fiat currency. If it becomes stable and stays at the same price value, then how can it be a hedge against inflation?
I believe Bitcoin will only become a hedge against inflation if it meets certain criteria and that is always in an uptrend path. Those who buy at $69k probably have other things in mind rather than Bitcoin being an inflation hedge. HIgh volatility is something that counters the idea of Bitcoin being a potential inflation hedge, IMHO.
bitcoin will do this by being an alternative for traditional currency or by totally replacing local currency,
Do you really believe that Bitcoin can be replaced with the local currencies of every country in the world? Although Bitcoin is a valuable asset and can add value to one's investment instead of being caught up with inflation the way it is with fiat money, but that doesn't mean that local currency will still not exist. I think that along the line, in the future, more people will realise that Bitcoin is kind of a safe heaven to hold one's funds and avoid being affected by inflation, but worldwide, Bitcoin will not be accepted by every country, even to the extent of totally replacing their local currency. although we can't tell what the future will become.
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bitcoin will do this by being an alternative for traditional currency or by totally replacing local currency,
Do you really believe that Bitcoin can be replaced with the local currencies of every country in the world? Although Bitcoin is a valuable asset and can add value to one's investment instead of being caught up with inflation the way it is with fiat money, but that doesn't mean that local currency will still not exist. I think that along the line, in the future, more people will realise that Bitcoin is kind of a safe heaven to hold one's funds and avoid being affected by inflation, but worldwide, Bitcoin will not be accepted by every country, even to the extent of totally replacing their local currency. although we can't tell what the future will become.
Certainly Bitcoin has gained influence and notoriety over time and has been considered by some as an alternative to traditional currencies and a haven of value in times of economic uncertainty… Either because it is not controlled by any financial institution or central government, which provides greater autonomy and resistance against manipulation by third parties… or because some see Bitcoin as a way to store value in times of economic uncertainty or inflation, since its limited supply could protect it from the impact of depreciating currencies local… But what you are proposing is impossible to happen, Bitcoin cannot easily replace local currency… Observe the power that governments currently have and you will see why your dream is impossible… It is good that you like Bitcoin and see it as the best investment, but not you can idolize Bitcoin to the point where you think it can save the whole world.
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.
We can use Bitcoin as an inflation hedge due to the below reason.What high inflation countries need to store their wealth, is bitcoin, because it is not in anyway controlled by inflation spikes.
1. historical performance: Bitcoin has shown some price appreciation during the period of the financial crisis.
2. Decentralization: Bitcoin is not controlled by any central authority. but the price can be changed based on the market news.
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.
I know this may take time to happen, but the actualization is the freedom itself.
It will never happens.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.
In order for countries with high inflation to keep their wealth at bitcoin, they first need to accumulate that wealth. The presence of high inflation is an indicator of the absence of these riches.
A new government is not enough to solve the problem of a national inflationary crisis. Big changes will be required throughout the system, which, as you correctly noted, will require a lot of time and financial resources.
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.
What changes under the influence of bitcoin did you see in the economy? I think you are exaggerating this influence.Not sure if bitcoin will replace traditional currencies. This will not be allowed to happen, for the digital assets that have replaced traditional currencies will be CBDC.
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.
Bitcoin will not replace local currencies. The objective of Bitcoin is not even to replace local currencies but to be an alternative currency that can be used by anybody anytime in any part of the world. We have to be realistic in our assessment of Bitcoin. Bitcoin is not going to reshape the global economy.
What high inflation countries need to store their wealth, is bitcoin, because it is not in anyway controlled by inflation spikes.
Bitcoin cannot be controlled by inflation spikes but factors that cause inflation and other economic and political factors can affect the price and adoption of Bitcoin. Bitcoin is not immune to all economic factors in the economy. The players (people that use, trade, and hodl) of Bitcoin are in the economy and they get affected by the economy so it will affect Bitcoin.
Despite that, Bitcoin is still the best store of value among all other currencies.
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.
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.
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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