Topic: Bitcoin is the Best Option: Because of Dollar Rate Cost of Living is on the Peak - page 3. (Read 472 times)

Bitcoin can do nothing to reduce the cost of living, it's a digital currency which as you described is decentralized and a good store of value. Economies of nations are more complex than simply waving a magic wand and fixing it just like that, there needs to be good fiscal policies put in place and time allowed for growth.

On a side note, high cost of living is not always telling of a poor economy. There are countries with thriving economies but a very high cost of living.

For sure, Bitcoin doesn't solve every money problem. For people who can already make money, but don't make enough to save any money, Bitcoin can't do anything for them. Bitcoin is a great solution for a lot of problems, but it doesn't fix every single money problem in the world. It's just a currency. A lot of money problems have nothing to do with the currency, but rather with the economy/politics/culture/etc.

Bitcoin is not the solution to your nation’s economic problems. Do not be delusional, bitcoin is not magic money that can help get rid of poverty. El Salvador made bitcoin a legal tender and invested heavily in Bitcoin yet the investment has not changed the conditions of those living below middle class. Bitcoin just crossed $50k, how do you suppose people who can’t afford to care for themselves to have enough spare money to invest in Bitcoin? What your country should focus on is their production capacity and implement policies they will help reduce inflation.  

Its is through our decision making that we go through what we desire in the financial economy, we are quite well aware that a lot of people are struggling with the financial economy due to impeding inflation rate and the only means not to be affected is by getting our self the best alternative currency that could not suffer the injury other people are having currently with fiat, bitcoin can offer you the very best of choice in a decentralized  p2p network, all it takes is to understand how and learn the means to enjoy the benefits in bitcoin adoption over fiat.

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.
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DiMarxist.