Topic: Bitcoin is the Best Option: Because of Dollar Rate Cost of Living is on the Peak (Read 591 times)

Still, the dollar rate is as a result of your country using it to purchase goods or should I say import and export produce on a regular basis, without depending on using its fiat to strengthen its economy by patronizing homemade products and development of other initiatives that would alleviate the plight of its citizens.

Banknote and Digital Currency {Bitcoin} are all meant to buy things both in physical shops and online vendors. And countries are trying to adapt to the adoption of the digital currency upon all the restrictions many had laid on it but seen the benefits of it, some lift up the ban.

And many people were excited because bitcoin is decentralized and out of government control and bitcoin is volatile and it is store of value. So people became conscious and like bitcoin the more. If bitcoin transaction is low and retail businesses accept bitcoin as a method of payment. Dollar does devalue bitcoin so the price of things will not be influenced by dollar anymore. But the international market might still affect the price of things because there they would still used dollar for exchange unless the vendors are accepting bitcoin at that level as well. In my own understanding if bitcoin is adopted as a legal tender in my country the cost of living will reduce. The cost of in my country is on the peak that those who are receiving $80 as salary is nothing but a peanut which can't buy anything reasonable in the market again. Dollar is just playing with the Banknote in my country. And the best way is for the retail businesses to accept bitcoin if the transaction fee is low so that things will be okay for the poor. I am very happy that within this almost one year period I was not in the forum, I have invested some reasonable amount of bitcoin.
Welcome Back to the forum.

DiMarxist.

Banknote and Digital Currency {Bitcoin} are all meant to buy things both in physical shops and online vendors. And countries are trying to adapt to the adoption of the digital currency upon all the restrictions many had laid on it but seen the benefits of it, some lift up the ban.

The cost of in my country is on the peak that those who are receiving $80 as salary is nothing but a peanut which can't buy anything reasonable in the market again. Dollar is just playing with the Banknote in my country. And the best way is for the retail businesses to accept bitcoin if the transaction fee is low so that things will be okay for the poor. I am very happy that within this almost one year period I was not in the forum, I have invested some reasonable amount of bitcoin.

Bitcoin is real. I promise it's the best deal. See the dollar? It's a disaster. Prices fluctuate widely. Makes running a business and grocery shopping miserable. Bitcoin, though? Stable. Secure. The government cannot touch the future. We need that type of winning.

It's not just fancy investors. Bitcoin restores authority to the people.  Countries are smartening and seeing opportunity. Openness to Bitcoin offers more freedom for everyone. Actually your money. No banker's toy. I desire that planet.

Businesses, please join. Bitcoin transactions are cheaper and faster. That means things get cheaper. For everyone, not just the rich. Imagine your paycheck buying something useful. This is possible with Bitcoin. This isn't about instant riches. Building a better system. A fairer system. A system where America wins, and everyday people win too.

Do you think that bitcoin can never turn the wheels of a country's economy if the government of that country has not given legitimacy to bitcoin, then they can never transact openly through bitcoin. But some of the investors who are investing in bitcoins may be getting some financial gain as they are able to live comfortably but not as much as they are able to cross the threshold. But day by day people's popularity towards bitcoin is increasing more and more people are showing more interest towards bitcoin thus if the number of bitcoin investors increases and the value of bitcoin increases of course they can do better things through bitcoin in future.

Banknote and Digital Currency {Bitcoin} are all meant to buy things both in physical shops and online vendors. And countries are trying to adapt to the adoption of the digital currency upon all the restrictions many had laid on it but seen the benefits of it, some lift up the ban.

And many people were excited because bitcoin is decentralized and out of government control and bitcoin is volatile and it is store of value. So people became conscious and like bitcoin the more. If bitcoin transaction is low and retail businesses accept bitcoin as a method of payment. Dollar does devalue bitcoin so the price of things will not be influenced by dollar anymore. But the international market might still affect the price of things because there they would still used dollar for exchange unless the vendors are accepting bitcoin at that level as well. In my own understanding if bitcoin is adopted as a legal tender in my country the cost of living will reduce. The cost of in my country is on the peak that those who are receiving $80 as salary is nothing but a peanut which can't buy anything reasonable in the market again. Dollar is just playing with the Banknote in my country. And the best way is for the retail businesses to accept bitcoin if the transaction fee is low so that things will be okay for the poor. I am very happy that within this almost one year period

Apart from the fact that you contradicted yourself in two paragraphs, dollar on its own is not affecting the cost of stuff including fiat exchange rate in other countries. What affects them is the decisions of the governments of those countries.

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If bitcoin transaction is low and retail businesses accept bitcoin as a method of payment. Dollar does devalue bitcoin so the price of things will not be influenced by dollar anymore. But the international market might still affect the price of things because there they would still used dollar for exchange unless the vendors are accepting bitcoin at that level as well.
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Apart from the fact that you contradicted yourself in two paragraphs, dollar on its own is not affecting the cost of stuff including fiat exchange rate in other countries. What affects them is the decisions of the governments of those countries.

For example when they keep printing their national currency, they devalue that fiat and consequently price of everything goes up against their fiat.

The only case where dollar comes in is when that other country is an importer of US inflation. In simple terms that is when US prints dollar out of thin air and purchases real goods and services from that country.

Now, granted bitcoin has created great opportunities for a small number of individuals in different countries to make some additional money and improve their own personal financial situation, but as a whole it is not affecting the economy at a large scale.

If you only get paid $80 per month, that means $1 is valuable for you, but Bitcoin transaction fee now cost for $1 per transaction, it means you're need to spend twice amount when purchase a small thing. Don't talk about lightning network or side chains, it's not yet well adopted right now, don't expect government or businesses to accept it in soon.

The main problem of poor people are the jobs, not the currency.
The main problem of developing countries are the human resources.