Comparing the cost of living from 2000 to 2020

UserU

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Quote from: Tash on February 13, 2020, 12:53:12 PM

~~Millionaires, Billionaires~~ no in 2008 Zimbabwean Trillionaire in or even Quadrillionair as the case in second pic

I remembered seeing this almost 1 decade ago:

And that's just for something worth a few dollars. But I think during the recent years they've been relying on several currencies for their trade and would "refresh" their own dollars.

https://www.google.com/amp/s/www.aljazeera.com/amp/ajimpact/zimbabwe-currency-191029204042086.html

Luqueasaur

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Quote from: Tash on February 13, 2020, 12:53:12 PM

Quote from: UserU on February 13, 2020, 09:37:06 AM

Quote from: Tash on February 13, 2020, 03:20:50 AM

Not every year is the same rate of inflation and every country varies (ask Venezuelans), but
.....

Venezualans are on a whole different level there.

They can be millionaires just from collecting faucets Cheesy

~~Millionaires, Billionaires~~ no in 2008 Zimbabwean Trillionaire in or even Quadrillionair as the case in second pic
https://upload.wikimedia.org/wikipedia/commons/thumb/3/3e/Zimbabwe_%24100_trillion_2009_Obverse.jpg/1280px-Zimbabwe_%24100_trillion_2009_Obverse.jpg https://i.ibb.co/7j2thNx/Untitled.jpg

As if that wasn't extreme enough, there's one even worst case. Ask post-war Hungarians what they think of pengő (1946).

Just so that you can have a scale of the occurrence, its suceeding currency, forint, was worth 400 000 000 000 000 000 000 000 000 000 pengő (400 octillion pengő).

Tash

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Quote from: UserU on February 13, 2020, 09:37:06 AM

Quote from: Tash on February 13, 2020, 03:20:50 AM

Not every year is the same rate of inflation and every country varies (ask Venezuelans), but
.....

Venezualans are on a whole different level there.

They can be millionaires just from collecting faucets Cheesy

~~Millionaires, Billionaires~~ no in 2008 Zimbabwean Trillionaire in or even Quadrillionair as the case in second pic

Naida_BR

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The cost of living has been increased dramatically.
I remember in the past when I was going to the super market with my parent we were getting a specific amount of products with 50 dollars. Now with 50 dollars we are able to get only the 1/3 of the products we used to get.

UserU

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Quote from: Tash on February 13, 2020, 03:20:50 AM

Not every year is the same rate of inflation and every country varies (ask Venezuelans), but
.....

Venezualans are on a whole different level there.

They can be millionaires just from collecting faucets Cheesy

Negotiation

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Comparing my living expenses to 2000 to 2020 is much worse I have yet to improve my standard of living But hopefully I'll do something in front. In the middle of the market the situation was bad I recovered everything in frustration but now I am back again And trying to hold Bitcoin that will try to improve in my later life.

Tash

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Quote from: UserU on February 13, 2020, 02:21:43 AM

The cost of living increases in my country annually without fail. Sellers blame the chain reaction from distributors citing rising costs of resources and then passing them down to us. A cup of white coffee which costed less than 20 cents back in 2000 is now almost 50.

Sadly, the anti-profiteering act can't even do shit.

Not every year is the same rate of inflation and every country varies (ask Venezuelans), but

Average	inflation of	4,70%
2000	$0,200	0,009
2001	$0,209	0,010
2002	$0,219	0,010
2003	$0,230	0,011
2004	$0,240	0,011
2005	$0,252	0,012
2006	$0,263	0,012
2007	$0,276	0,013
2008	$0,289	0,014
2009	$0,302	0,014
2010	$0,317	0,015
2011	$0,331	0,016
2012	$0,347	0,016
2013	$0,363	0,017
2014	$0,380	0,018
2015	$0,398	0,019
2016	$0,417	0,020
2017	$0,437	0,021
2018	$0,457	0,021
2019	$0,479	0,022
2020	$0,501	0,024

Some Inflation figures for 2019 (average 3.6% of whole world) Actual can be higher/lower as official figures
Iran 31%
China 2.4%
Australia 1.8%
Brazil 3.5%
Russia 3.5%
Saudi Arabia 2.2%
Sudan 62%
South Africa 5.2%
Turkey 12.6%
Venezuela 500000%
Japan 1.3%
Germany 1.7%
UK 1.9%
Spain 1%
Sweden 1.5%
Ukraine 5.9%
Poland 3.5%
.....

UserU

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The cost of living increases in my country annually without fail. Sellers blame the chain reaction from distributors citing rising costs of resources and then passing them down to us. A cup of white coffee which costed less than 20 cents back in 2000 is now almost 50.

Sadly, the anti-profiteering act can't even do shit.

michellee

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I am sure that the cost of living in every country has increased, and it is not the same from 2000 to 2020. The cost of living in one country will not be the same in the other country too. But I think bitcoin can be an option for people who want to get a better life. With the bitcoin price increases, people can retire with having a lot of money from bitcoin. Besides of bitcoin, people can also have gold as another investment so they can have more money too.

Tash

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Quote from: semobo on February 12, 2020, 03:50:56 PM

Gold is still the best option to secure your asset values for long time but if you want to take risk by putting them in bitcoin you would make few thousands more times then the capital amount until now but we can't expect the same thing in future as well so diversify equally into gold and cryptos for best retirement plan.

Gold "inflates" by about 1.35% annually. There are different opinions how much is already available and still to be mined. There are however exact numbers how many metric tones mined per year. So yes gold is still marginal better as Bitcoin for another 4 years as after halving the reward is about 1.6% annually.
A $1000 today has a purchasing power of $67,76 in fiat, $195,72 with Gold and $872,00 when no new Bitcoins produced in 2140. (if you take inflation of 2.2% and 1.35% of new mined gold of the total)

iamsheikhadil

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I remember buying 100 candies with 10 inr and now with 10 inr we don't even get 1 single candy lol. That time it was gold who came to rescue, and now it's our crypto. I don't know why people prefer to save their cash in banks when they know purchasing power would decline anyway rather than investing in equities, gold and crypto.

Hannu

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Hey,

Yea the cost of living is have been a rise in big cities since 2000. If i have Twin-turbo Subaru (2000), i don't put it that ecodiesel. Fuel oil is a better quality of old cars. New York light on the engine Grin

semobo

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Gold is still the best option to secure your asset values for long time but if you want to take risk by putting them in bitcoin you would make few thousands more times then the capital amount until now but we can't expect the same thing in future as well so diversify equally into gold and cryptos for best retirement plan.

OgNasty

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My cost of living has declined dramatically over that period of time, but this is mostly due to fleeing California.

boyptc

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Retiring with fiat is still an option regardless of how much bitcoin will be in the future. I'm trying to keep myself in both oceans just to be secure whichever will lead but obviously, fiat will be lessen in value due to the inflation.

While bitcoin, deflation is what we have here. Save at least 1 bitcoin for around the next 5 to 10 years and we'll see how much you can keep until retirement.

Tash

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Bitcoin in its glory

Year	Block	New per block	Total Supply	New added in past 4 years	Approx new added per year of total
2009	0	50.00000000	0.00		12.5000000138%
2012	210000	25.00000000	10500000.00	10500000.0000	6.2500000069%
2016	420000	12.50000000	15750000.00	5250000.0000	3.1250000034%
2020	630000	6.25000000	18375000.00	2625000.0000	1.5625000017%
2024	840000	3.12500000	19687500.00	1312500.0000	0.7812500009%
2028	1050000	1.56250000	20343750.00	656250.0000	0.3906250004%
2032	1260000	0.78125000	20671875.00	328125.0000	0.1953125002%
2036	1470000	0.39062500	20835937.50	164062.5000	0.0976562501%
2040	1680000	0.19531250	20917968.75	82031.2500	0.0488281251%
2044	1890000	0.09765625	20958984.38	41015.6250	0.0244140625%
2048	2100000	0.04882812	20979492.19	20507.8125	0.0122070300%
2052	2310000	0.02441406	20989746.09	10253.9052	0.0061035150%
2056	2520000	0.01220703	20994873.05	5126.9526	0.0030517575%
2060	2730000	0.00610351	20997436.52	2563.4763	0.0015258775%
2064	2940000	0.00305175	20998718.26	1281.7371	0.0007629375%
2068	3150000	0.00152587	20999359.13	640.8675	0.0003814675%
2072	3360000	0.00076293	20999679.56	320.4327	0.0001907325%
2076	3570000	0.00038146	20999839.77	160.2153	0.0000953650%
2080	3780000	0.00019073	20999919.88	80.1066	0.0000476825%
2084	3990000	0.00009536	20999959.93	40.0533	0.0000238400%
2088	4200000	0.00004768	20999979.96	20.0256	0.0000119200%
2092	4410000	0.00002384	20999989.97	10.0128	0.0000059600%
2096	4620000	0.00001192	20999994.98	5.0064	0.0000029800%
2100	4830000	0.00000596	20999997.48	2.5032	0.0000014900%
2104	5040000	0.00000298	20999998.73	1.2516	0.0000007450%
2108	5250000	0.00000149	20999999.36	0.6258	0.0000003725%
2112	5460000	0.00000074	20999999.67	0.3129	0.0000001850%
2116	5670000	0.00000037	20999999.83	0.1554	0.0000000925%
2120	5880000	0.00000018	20999999.91	0.0777	0.0000000450%
2124	6090000	0.00000009	20999999.94	0.0378	0.0000000225%
2128	6300000	0.00000004	20999999.96	0.0189	0.0000000100%
2132	6510000	0.00000002	20999999.97	0.0084	0.0000000050%
2136	6720000	0.00000001	20999999.97	0.0042	0.0000000025%
2140	6930000	0.00000000	20999999.98	0.0021	0.0000000000%

Tash

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Inflation is a lot higher that you think and your purchasing power is declining. Bitcoin to the rescue reward of new coins coming to the market halving every 4 years. Retirement with fiat is not an options.
http://www.mybudget360.com/comparing-the-cost-of-living-from-2000-to-2020-inflation-is-a-lot-higher-than-you-think-and-your-purchasing-power-is-declining/

Topic: Comparing the cost of living from 2000 to 2020 (Read 177 times)