Topic: how many Bitcoin do you need to live comfy in event of hyperinflation? (Read 827 times)
November 07, 2020, 12:16:11 PM
Actually, this is a very interesting question, but in any case the answer will depend only on what is the price of bitcoin. Even if we take into account today's bitcoin prices at the level of 15,000 / 16,000 dollars, then I believe that at least 10 Bitcoin would be enough for me to implement my plans. My requests are not very large and I am content with small ones. In addition, as they say, the more money there is, the more you want it, and the more money, the harder it is to keep it and stay safe.
November 05, 2020, 05:27:17 PM
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
Many are curious on what will happen if dollars fall and that's one of might possibly happen since for sure all country who rely with the US economy will collapsed also, I remember on the past global economic crisis where many got affected and how much more if that happen today. Although cryptocurrency is a good alternative but we cannot rely it for now due to unpredictable volatility of it.
And 100 Bitcoin is quite huge to leave a comfy life but that's not sustainable so I will double up the figures since the one I think is 200 bitcoins and for that we can build a huge business and other more.
Unfortunately, I live in a third world country (Russia), so for me the amount of 100 bitcoins is already huge. But I'm not really looking for a sum to stop working. Rather, I'm looking for an amount of money that will allow me to change my country of residence with maximum comfort, and 100 bitcoins with a large reserve allow me to do this.
November 04, 2020, 11:13:24 AM
Depending on your definition, the dollar is already hyper-inflating.
Stats show that real world asset price inflation is now ~6-8%/year.
The Fed targets 2%/year, so real asset inflation is already running 300-400% of that per year. That means the amount of inflation that should span the next 30 years, will only span the next 10.
The Fed is also saying we aren't even at their 2% inflation target, which is fkn laughable.
Stats show that real world asset price inflation is now ~6-8%/year.
The Fed targets 2%/year, so real asset inflation is already running 300-400% of that per year. That means the amount of inflation that should span the next 30 years, will only span the next 10.
The Fed is also saying we aren't even at their 2% inflation target, which is fkn laughable.
November 04, 2020, 10:46:44 AM
I will need a lot of BTC to live comfortably. If you have a family of your own already, living comfortably could be hard with jus 100BTC. Comfortable means not working anymore, just waiting for weekly dividends and living in a house with each member of my family have cars.
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
Also depends on the country and the economy because I have seen some who work for super cheap prices which suggest that the wages are low in their country and that means even 10 BTC might be more than enough but it would be equally difficult for them to save or earn 10 bitcoins though.so that is enough to make us live in hyperinflation .
Quote
I don't believe in savings as much as I believe in active and passive earnings.
You don't believe in Saving?looks like i am not agreed on this mate because being Investor here and holding for long term it is considered as Savings mate,Not only n banking but also in our own way of investing.
The question is what could 1M local currency could buy. If 1M local currency can't even buy a house, then they can't live comfortably. An old car can worth about 500K. the other half could just be enough to live for a year.
November 04, 2020, 09:52:38 AM
Give me 50 bitcoins and I will never need to work ever again in my life. No questions asked, I could be in a great nation European countries and have more expensive life, or I could be in places like Zimbabwe or Venezuela and I would still live with 50 bitcoins forever without ever working again. That is my goal in life, to have 50 bitcoins and after that I am going to stop ever working again.
I would probably still work for fun because I hate not doing anything but won't do it for money anymore. What you imagine as hyperinflation happens in currencies of governments, not in crypto world, so if you ever have 50 bitcoins, no matter what happens to fiat of where you live, you are going to be fine and as long as you do not cash it out like crazy, you are going to live a comfortable life just with bitcoin interests you get.
I would probably still work for fun because I hate not doing anything but won't do it for money anymore. What you imagine as hyperinflation happens in currencies of governments, not in crypto world, so if you ever have 50 bitcoins, no matter what happens to fiat of where you live, you are going to be fine and as long as you do not cash it out like crazy, you are going to live a comfortable life just with bitcoin interests you get.
November 03, 2020, 05:25:02 PM
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
This is likely going to be the effect if the dollar collapse from hyperinflation. Economically, it means the world system will go down because investment of any form will not be important and anarchy will take over and lots of confusion and conflict.
November 03, 2020, 02:58:05 PM
I'm not a heavy spender so it would do 10BTC-20BTC. Is that much? not that really and it can go lower.
I've given that estimation because I can think of other things that I can do with that amount. I wouldn't just keep it for the rest of my life but I'll take another risk of establishing businesses which will run passive income and invests into other things.
It's also a way to fight hyperinflation to have continuous cash flow.
I've given that estimation because I can think of other things that I can do with that amount. I wouldn't just keep it for the rest of my life but I'll take another risk of establishing businesses which will run passive income and invests into other things.
It's also a way to fight hyperinflation to have continuous cash flow.
November 03, 2020, 08:58:10 AM
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
Also depends on the country and the economy because I have seen some who work for super cheap prices which suggest that the wages are low in their country and that means even 10 BTC might be more than enough but it would be equally difficult for them to save or earn 10 bitcoins though.so that is enough to make us live in hyperinflation .
Quote
I don't believe in savings as much as I believe in active and passive earnings.
You don't believe in Saving?looks like i am not agreed on this mate because being Investor here and holding for long term it is considered as Savings mate,Not only n banking but also in our own way of investing.
November 03, 2020, 08:49:44 AM
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
they wont hyper inflate the usd.
it simply will inflate 50-100% every 10 years.
November 03, 2020, 08:22:51 AM
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
Also depends on the country and the economy because I have seen some who work for super cheap prices which suggest that the wages are low in their country and that means even 10 BTC might be more than enough but it would be equally difficult for them to save or earn 10 bitcoins though.earnings.
this amount of million is hard to gain or save if your from these country and if you dont have a wealthy life but thats not important because this question are only fictional , he ask if what btc are enough and we can answer any amount depending on us but why not do it for real ? save now at smaller portions and when btc pump really high , a million value will be easily achievable . preparing is a must because inflation are also real
November 01, 2020, 04:25:11 PM
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
Also depends on the country and the economy because I have seen some who work for super cheap prices which suggest that the wages are low in their country and that means even 10 BTC might be more than enough but it would be equally difficult for them to save or earn 10 bitcoins though.For me, I don't believe any amount of bitcoins would be enough because I work and earn and I don't believe in savings as much as I believe in active and passive earnings. Savings and people who earn through interest from banks are not the most intelligent people in my opinion.
November 01, 2020, 12:42:06 PM
I really think that at the beginning of such event the price of bitcoin will go down as dumb people sell their coins for cheap, but once people realize that this is the crisis we all have been expecting they will try to find a refuge for their wealth and bitcoin will be there to help them, at exorbitant prices of course
Bitcoin is the safe haven for the poor
And if things massively go awry in the way you mean it, Bitcoin, as a speculative asset, will likely crash monumentally. I somewhat agree with Warren Buffet who says that there's no value in Bitcoin. What I disagree with, though, is his understanding of value. Basically, he sticks to a narrow definition of it, i.e. something which can create new value (for example, a car manufacturer). However, if something allows redistribution of existing value in one way or another, this capacity can also have value of its own, especially if you can leverage it
November 01, 2020, 12:33:14 PM
Nations are different from each other, I am sure if you had 1 bitcoin there are tons of places in the world where you could live through a huge hyperinflation without any problem, but there are also places where you can't live with 1 bitcoin alone. For example in USA $13k is good enough for few months at best, unless you are some college kid you will run that money out very quickly, but look at places like Nigeria, there $13k dollars would help you live a year or maybe even more and closer to 2 years.
So, having a set amount of money will never be enough, doesn't matter how much unless it is too much that we wouldn't even be talking here, no matter how much money you have, you should also focus on income, without income the money you have will run out eventually.
I think we all know that, however in the case the world economy goes through an hyperinflation, something we know will happen sooner or later, at that particular point you will not be able to depend on your income as most likely you will lose your job and you will need to depend on the wealth you have accumulated over the years.So, having a set amount of money will never be enough, doesn't matter how much unless it is too much that we wouldn't even be talking here, no matter how much money you have, you should also focus on income, without income the money you have will run out eventually.
I really think that at the beginning of such event the price of bitcoin will go down as dumb people sell their coins for cheap, but once people realize that this is the crisis we all have been expecting they will try to find a refuge for their wealth and bitcoin will be there to help them, at exorbitant prices of course.
November 01, 2020, 09:34:35 AM
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
they wont hyper inflate the usd
I mostly agree with this
But you should certainly remember the second half of 1970s when the dollar had been losing like 20% of its purchasing power every year, year in and year out. I don't know if this counts as inflating, but these rates can be felt pretty well by the general public unlike mild inflation around 2-3% annually, which goes mostly unnoticed. Further, who could have foreseen only a year ago what 2020 would pit us against? And what if we are not done yet, as some claim?
November 01, 2020, 09:22:19 AM
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
they wont hyper inflate the usd.
it simply will inflate 50-100% every 10 years.
November 01, 2020, 09:12:51 AM
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
Many are curious on what will happen if dollars fall and that's one of might possibly happen since for sure all country who rely with the US economy will collapsed also, I remember on the past global economic crisis where many got affected and how much more if that happen today. Although cryptocurrency is a good alternative but we cannot rely it for now due to unpredictable volatility of it.
And 100 Bitcoin is quite huge to leave a comfy life but that's not sustainable so I will double up the figures since the one I think is 200 bitcoins and for that we can build a huge business and other more.
November 01, 2020, 08:37:38 AM
The hyperinflation of the dollar will mean the collapse of the entire world economy, and I think in these conditions, bitcoin will also lose its value. Only food, weapons, gasoline and sheltered accommodation will be valuable. If we talk about moderate inflation, then I think 100 bitcoins for me would be the solution to most of my problems)
November 01, 2020, 02:14:08 AM
how many Bitcoin do you need to live comfy in the event of hyperinflation? is 1 BTC enough?
hyperinflation for nocoiners
hyperdeflation for bitcoiners
hyperinflation for nocoiners
hyperdeflation for bitcoiners
1 Bitcoin enough maybe 100 or 1000 Bitcoin is enough, the more we have the more expenses that we are going to incur, and living a comfortable life is an on going expenses, unless you know how to handle your business, living a comfortable life and living a sufficient life is very different from since you've used the word comfy, it will not enough however a big amount.
October 31, 2020, 04:44:57 PM
Okay I am 63. Lets pretend I live 30 years at my current standards.
I need about 2 million usd. pretending zero inflation.
so 150:coins should do it.
I need about 2 million usd. pretending zero inflation.
so 150:coins should do it.
Planning to sell everything in the $13,000s? Talk about setting your sights low!
Assuming people have the patience to wait several years, I think they'll need only a very small fraction of those 150 coins. Maybe just one coin, or 3.
Million dollar coins are coming, sooner than most people think.
of course not. but I spend 65000 a year. I am 63 and plan to live 30 year or more.
so 5 coins covers me for each year. if all money and all coins stay flat.
Since money in usa will drop in value and coins will rise in value I made my calculation then they will be exactly counter balanced over the next thirty years.
so if 65000 a now works it is five coins a year.
in 10 years if 130000 a year works and coins are 26k it is still five coins a year.
in 20 years if 260000 a year works and coins are 52k it is still five coins a year.
in 30 years if 520000 a year works and coins are 104k it is still five coins a year.
If you are correct and coins rise faster then dollar drops I will have left over coins when I am ninety.
30 x 12 is 360 months. If i have 150 coins I can cash a coin every 2-3 months.
October 31, 2020, 03:33:06 PM
how many Bitcoin do you need to live comfy in the event of hyperinflation? is 1 BTC enough?
hyperinflation for nocoiners
hyperdeflation for bitcoiners
hyperinflation for nocoiners
hyperdeflation for bitcoiners
I think it would depend on where you currently live.
$1 would be different on each country we could buy more or less depending on which country we are at.
And it would depend if it is only you or with your family and how many family members would be with you and for how long.
October 31, 2020, 06:04:54 AM
Okay I am 63. Lets pretend I live 30 years at my current standards.
I need about 2 million usd. pretending zero inflation.
so 150:coins should do it.
I need about 2 million usd. pretending zero inflation.
so 150:coins should do it.
Planning to sell everything in the $13,000s? Talk about setting your sights low!
Assuming people have the patience to wait several years, I think they'll need only a very small fraction of those 150 coins. Maybe just one coin, or 3.
Million dollar coins are coming, sooner than most people think.
October 31, 2020, 05:23:50 AM
how many Bitcoin do you need to live comfy in the event of hyperinflation? is 1 BTC enough?
hyperinflation for nocoiners
hyperdeflation for bitcoiners
hyperinflation for nocoiners
hyperdeflation for bitcoiners
Witht the current market price I am ok with 3 Bitcoin , but money will flow out if you do not how to set up a good business or if you do not have a stable job, even if you have 10 Btcoin if you do not know how to take care of business of you are living a high standard of living that Bitcoin you are holding will be gone in a year time.
October 31, 2020, 04:56:00 AM
If you could have 32 eth for staking that comes down to enough income even in an hyperinflation situation as well depending on where you live. 32 eth will be the number of eth you are required at minimum to be able to stake it, and it comes down to around $12.3k or so right now, if you take that and calculate 5% at the very worst (I believe it will be closer to 7) that makes it 860 bucks per year, and 71 dollars per month.
Now I understand that you do not think 70 dollars per month is anything, it is definitely not enough to survive in almost any country and not right now. However consider if you were a person from Venezuela or Zimbabwe that had 70 bucks per month? You could have totally "survived", maybe not have a great life but at least would have help you survive hyperinflation at the very least.
Now I understand that you do not think 70 dollars per month is anything, it is definitely not enough to survive in almost any country and not right now. However consider if you were a person from Venezuela or Zimbabwe that had 70 bucks per month? You could have totally "survived", maybe not have a great life but at least would have help you survive hyperinflation at the very least.
October 31, 2020, 03:32:57 AM
I guess with a lot of Bitcoin you could survive.
Though I don't know how much you actually need, it could be more or enough. that ranges from 10 to 100 bitcoins. If that ever happens, I guess we could use bitcoin. Bitcoin might be unaffected by that and people might turn to decentralized cryptocurrencies since it is not that affected by these things like we had in this pandemic.
Though I don't know how much you actually need, it could be more or enough. that ranges from 10 to 100 bitcoins. If that ever happens, I guess we could use bitcoin. Bitcoin might be unaffected by that and people might turn to decentralized cryptocurrencies since it is not that affected by these things like we had in this pandemic.
October 31, 2020, 03:19:06 AM
I think no matter how much bitcoin you have during hyperinflation, it will still be affected by the current situation if inflation. Inflation makes the price of goods and services to increase and a bitcoin hodlers will also have to buy those things with the bitcoin at a high inflated price. Also bitcoin price is not stable like fiat, so at the hyperinflation time, it can reduce in price.
October 30, 2020, 10:36:25 PM
I guess if there is hyperinflation holding 1 BTC will not be enough. Especially if inflation reaches 600%. And it’s happened in one of those countries.
Having 1 BTC won’t make life comfortable. Especially if inflation occurs very long to many years. Hyperinflation occurs if a country experiences economic depression. Hyperinflation can occur in almost all countries, especially if it has not yet found a vaccine for COVID, there may be economic depression.
Having 1 BTC won’t make life comfortable. Especially if inflation occurs very long to many years. Hyperinflation occurs if a country experiences economic depression. Hyperinflation can occur in almost all countries, especially if it has not yet found a vaccine for COVID, there may be economic depression.
October 30, 2020, 06:11:25 PM
Okay I am 63. Lets pretend I live 30 years at my current standards.
I need about 2 million usd. pretending zero inflation.
so 150:coins should do it.
That looks to be a much sophisticated living. Possibly you're from first world country. With third world country a man ends his life peacefully without facing any financial difficulties if ha had such an amount. As per my living standard I need about 1-2 bitcoin per year with the present market value. I need about 2 million usd. pretending zero inflation.
so 150:coins should do it.
October 28, 2020, 09:56:47 PM
Okay I am 63. Lets pretend I live 30 years at my current standards.
I need about 2 million usd. pretending zero inflation.
so 150:coins should do it.
I need about 2 million usd. pretending zero inflation.
so 150:coins should do it.
October 28, 2020, 09:33:46 PM
You can never live comfy when there's a hyperinflation in your country, things like crime and other negative effects will be through the roof. Many businesses will close, so you'll have hard time getting all the goods you used to get, and with the same quality. This is the reason why tourists rarely go to countries like Venezuela or Zimbabwe.
What you could ask is how many bitcoins do you need to survive in a country with hyperinflation, but this would depend on the starting economic situation and how long the crisis would last.
What you could ask is how many bitcoins do you need to survive in a country with hyperinflation, but this would depend on the starting economic situation and how long the crisis would last.
October 28, 2020, 01:57:18 PM
Nations are different from each other, I am sure if you had 1 bitcoin there are tons of places in the world where you could live through a huge hyperinflation without any problem, but there are also places where you can't live with 1 bitcoin alone. For example in USA $13k is good enough for few months at best, unless you are some college kid you will run that money out very quickly, but look at places like Nigeria, there $13k dollars would help you live a year or maybe even more and closer to 2 years.
So, having a set amount of money will never be enough, doesn't matter how much unless it is too much that we wouldn't even be talking here, no matter how much money you have, you should also focus on income, without income the money you have will run out eventually.
So, having a set amount of money will never be enough, doesn't matter how much unless it is too much that we wouldn't even be talking here, no matter how much money you have, you should also focus on income, without income the money you have will run out eventually.
October 27, 2020, 02:56:27 PM
how many Bitcoin do you need to live comfy in the event of hyperinflation? is 1 BTC enough?
hyperinflation for nocoiners
hyperdeflation for bitcoiners
hyperinflation for nocoiners
hyperdeflation for bitcoiners
Depends on what you consider comfy. Although I do think bitcoin will be worth a nice sum at one point it depends on country, lifestyle etc. What I do know is you only want enough of anything that you are comfortable with. I do believe you might need a little more than 1 bitcoin to live a "comfy" life though.
October 27, 2020, 12:50:07 PM
Let's look how people are living now in Venezuela with their hyperinflation, and how other countries in South America and Europe coped with that.
It would be good to have few bitcoins for sure, but problem would be to exchange them for food, gas and bills.
Having your land, garden and vegetables with other store of values and bitcoins would be the best.
In the case of hyperinflation the best defence is not be as dependent on the system as the rest, so first of all you should avoid debt as much as you can since the interest rates during hyperinflation will be crazy just for banks to try to keep up with the inflation, second have a place to live that is completely paid, third if possible have a source of food on your own as the price of food will go up significantly.It would be good to have few bitcoins for sure, but problem would be to exchange them for food, gas and bills.
Having your land, garden and vegetables with other store of values and bitcoins would be the best.
A person doing that will suffer from what happens in his country but he will still have his basic necessities covered and if you add some savings in gold or bitcoin that person will be set and prepared for anything his country goes through.
October 27, 2020, 12:18:34 PM
There is of course no way to even guess at how many bitcoin you would need during hyperinflation to live comfortably
The truth is, you don't even need a single bitcoin of your own
If you can successfully pit Bitcoin's volatility (or volatility of any other cryptocurrency, for that matter) against fiat currency depreciation, you can borrow bitcoins with depreciating dollars and then turn the inflation tax to your advantage. As long as an asset's volatility exceeds the inflation rate, you can live off it, essentially making inflation an asset in its own right, not a liability as it always wants to be
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October 27, 2020, 11:45:46 AM
how many Bitcoin do you need to live comfy in the event of hyperinflation? is 1 BTC enough?
hyperinflation for nocoiners
hyperdeflation for bitcoiners
hyperinflation for nocoiners
hyperdeflation for bitcoiners
I don't think that 1 btc is enough because if someone can collect 1 bitcoin, he will say that he wants more, and he will try to get more bitcoin. Everybody will have their own perception about how many bitcoin he will need to live comfortably, and maybe they will say that they want to have many bitcoin, maybe more than 10 btc. I will try to make more bitcoin because there is no limit on how many we can earn bitcoin in many ways. It depends on how we can get that bitcoin and convert it into fiat.
October 27, 2020, 11:09:39 AM
For countries with hyperinflation I am an inhabitant of a country of that magnitude, with 1Bitcoin you can live well for 1 year knowing how to manage those expenses. The trick for everything is to always put the Bitcoin in Hodl mode and extract the minimum for the obligatory expenses, since the local currency is always falling, it is usable, there will always be the way that the dollar will always rise with respect to the local currency and If bitcoin falls in price it does not suffer inflation, since it remains or, failing that, increases.
October 27, 2020, 10:02:01 AM
how many Bitcoin do you need to live comfy in the event of hyperinflation? is 1 BTC enough?
hyperinflation for nocoiners
hyperdeflation for bitcoiners
For what? hyperinflation for nocoiners
hyperdeflation for bitcoiners
Depend on your condition, how money do you have and how much money that you can afford to loss? It is up to you to have 1 or more bitcoin as long as you are comfortable when you having it. Bitcoin can be considered as an investment place, you may know all investment place will have a risk moreover with bitcoin that have a high risk you could loss a huge money with just several times and yeah you have to ready with that.
October 27, 2020, 07:54:09 AM
26.53 BTC. No more, no less.
Basis? It would be indeed a huge amount but hyperinflation is not a short term problem. Also, there is a tendency for hyperinflation to affect the market price of crypto since it has to be converted to fiat in order to be used on purchasing goods. But to as how I understand hyperinflation, it alters the value of a currency ;worst is that a currency could be worthless, pushing you to move to other currency. But the problem would be exchanger. Who will exchange a currency to another currency having no value at all? for an instance. That is when problems would arise. Bitcoin can be converted to fiat of other countries but to how will you exchnge it during hyperinflation and benefit from it? It is not only devaluing of a currency but the situation itself wherein it will be hard to live a life despite of the huge amount you are having in ligh with a tough situation. haha no i just said that cuz that's how much i have.
There is of course no way to even guess at how many bitcoin you would need during hyperinflation to live comfortably.
October 27, 2020, 06:49:34 AM
If its not already obvious, nobody is really benefitting from hyperinflation except maybe the horribly indebted and even then its likely to wipe out a society and its ability to trade and do business properly. These scenarios even if you are hard into crypto or whatever hedge you think might work, its not going to be a positive overall. If a currency collapses the country generally will be poorer which mostly drags everyone down as all workers receive less. The exception is international income, so export industries and global trade is key as you receive external currency and income.
The BTC is less important then productive capability, the idea it would produce income by itself is a tenuous hope. Theres pressure likely on most industries if dollar goes down for example as its tied to so many economies, eventually some one gains from the transition to a better system but not the upset itself is my guess. Im thinking entertainment and gambling is not helped by extreme scenarios, hyper is like 30% value lost every month btw so alot.
The BTC is less important then productive capability, the idea it would produce income by itself is a tenuous hope. Theres pressure likely on most industries if dollar goes down for example as its tied to so many economies, eventually some one gains from the transition to a better system but not the upset itself is my guess. Im thinking entertainment and gambling is not helped by extreme scenarios, hyper is like 30% value lost every month btw so alot.
October 27, 2020, 06:24:07 AM
You may want to read this article (don't worry it's mine and makes an easy reading)
In essence, if there are good cryptocurrency payment cards freely and easily available across the world, the major cryptocurrencies, i.e. the ones used for payment, will stop being intrinsically valued in the US dollar and become means of payment of their own (we discussed that before). So the case of complete doom and gloom for the dollar may be a silver lining for cryptocurrencies. In fact, that may be their prime time and the best opportunity ever to take over fiat for real
In essence, if there are good cryptocurrency payment cards freely and easily available across the world, the major cryptocurrencies, i.e. the ones used for payment, will stop being intrinsically valued in the US dollar and become means of payment of their own (we discussed that before). So the case of complete doom and gloom for the dollar may be a silver lining for cryptocurrencies. In fact, that may be their prime time and the best opportunity ever to take over fiat for real
Worth a merit at least! Thank you.
I actually agree with this view and it's a nice thing to have, eventually, yes, and for us who've adopted it, yes. But it's not yet in enough people's hands I think. I have crypto, and hopefully enough for those I care for, but a great many people who don't have it will be in real trouble in that collapse... and judging from just how many wealthy shillers own crypto vs honest people who don't, I don't really see a good outcome if this reality comes true soon.
Maybe I'm simple but for me, a "nicer version" of this future is when we see moneychangers start listing fiat in terms of Bitcoin. Imagine, USD/BTC, EUR/BTC, CHF/BTC pairs. And Bitcoin being the only currency in all these pairs!
October 26, 2020, 01:29:31 PM
I don’t think anything under 20BTC will allow most people in first world countries to retire & live a great life. Certainly not selling during this bull run any way. Let’s assume person X lives in the US & is 40 years old, if bitcoin reaches $100,000 per coin he’s going to need 20BTC at least to live until he dies of old age. He’s going to need even more than 20BTC if he wants to keep some for future bull runs.
Plus fiat is becoming useless so nobody wants to sell all of their bitcoin any time soon.
Plus fiat is becoming useless so nobody wants to sell all of their bitcoin any time soon.
October 26, 2020, 01:15:47 PM
26.53 BTC. No more, no less.
Basis? It would be indeed a huge amount but hyperinflation is not a short term problem. Also, there is a tendency for hyperinflation to affect the market price of crypto since it has to be converted to fiat in order to be used on purchasing goods. But to as how I understand hyperinflation, it alters the value of a currency ;worst is that a currency could be worthless, pushing you to move to other currency. But the problem would be exchanger. Who will exchange a currency to another currency having no value at all? for an instance. That is when problems would arise. Bitcoin can be converted to fiat of other countries but to how will you exchnge it during hyperinflation and benefit from it? It is not only devaluing of a currency but the situation itself wherein it will be hard to live a life despite of the huge amount you are having in ligh with a tough situation. 
October 26, 2020, 12:28:28 PM
It is not about bitcoin only, hyper inflation is something that could ruin anyone and I mean anyone, we are in a world where if you live in a country like Venezuela for example, you are going to end up not living very well no matter how much money you have. Of course, some people with "power" could get out and power could be bought with bitcoin or usually just wealth in simple terms but if you are rich yet not powerful it doesn't matter how much money you have.
For example you have 10 million dollars worth of money and you live in Venezuela before the hyperinflation happened and just as it happened you go out and there are no food, no drink no nothing at all which would basically mean you are living like the poor people because your money is not buying anything in the end anyway.
For example you have 10 million dollars worth of money and you live in Venezuela before the hyperinflation happened and just as it happened you go out and there are no food, no drink no nothing at all which would basically mean you are living like the poor people because your money is not buying anything in the end anyway.
October 25, 2020, 02:27:03 PM
26.53 BTC. No more, no less.
October 25, 2020, 02:07:03 PM
It won't be enough if you are living in that country with hyperinflation.
Imagine exchanging 1 BTC for 100 million paper currency of that country without even having much of a value.
I think you are confused here.
Is this how you want it?
BTC to USD then USD to your country currency. Still not a win if you are buying everything for triple the price.
Imagine exchanging 1 BTC for 100 million paper currency of that country without even having much of a value.
I think you are confused here.
Is this how you want it?
BTC to USD then USD to your country currency. Still not a win if you are buying everything for triple the price.
October 25, 2020, 01:14:38 PM
I've said it before. The scenario of total doom and destruction for the global economy and US dollar doesn't actually work for me. What's the point of having $1 million Bitcoin if US dollar experiences 1000% inflation, right? Haha
You may want to read this article (don't worry it's mine and makes an easy reading)
In essence, if there are good cryptocurrency payment cards freely and easily available across the world, the major cryptocurrencies, i.e. the ones used for payment, will stop being intrinsically valued in the US dollar and become means of payment of their own (we discussed that before). So the case of complete doom and gloom for the dollar may be a silver lining for cryptocurrencies. In fact, that may be their prime time and the best opportunity ever to take over fiat for real
I mean, $100k bitcoin in a couple of years feels nice. But I'd like to be able to still buy $100k value of today when that happens!
In that case, you won't care how much the dollar will be worth in bitcoins
October 25, 2020, 09:55:56 AM
how many Bitcoin do you need to live comfy in event of hyperinflation?
You dont need any. All that you need to fight hyperinflation is access to Bitcoin any moment. As soon as you get hyper inflating currency you change it to Bitcoin. You dont work to be paid in few months time. You want pay immediately. You try to take a loan and buy Bitcoin so you will pay that loan back in hyper inflating currency and will cost you nothing. Hyper inflation is also an opportunity. Just like anything else in life.
Have you lived in a country with hyper inflation before? Then how do you know its possible to get a loan? Most likely banks aren't dumb and will either freeze any loans or they will charge HUGE interest rates. Basically the interest rate will be higher than the hyperinflation. So high that people will not be taking in any loans.
I don't think there are any positive opportunites with inflation. Sure you can over-charge for everything but what is the point since the money will be useless anyways. Hyper inflation and corrupt countries cause alot of hardship and poverty and is never a good thing.
Yes I did. It goes exactly as I wrote. Of course for short time a year or so inflation was even few 100% a month. So people when got salary went to bank and took out all money in cash. That was in late 80ties so cash was widely used. And outside of bank there was a guy that exchanged their whole salary into other currency. You of course was not able to exchange that inside bank. Or you could only to some limit. For sure not whole salary. That exchange guy was standing in front of bank totally safe. What he was doing was illegal, but there was no one to hunt him. Police officer also had to exchange his salary somewhere. If he would put that guy in jail then he could not be able to do it. Loans are usually taken for long term. 10 years or even more. No bank can predict in the future that long. Last payoffs were so low that bank clerk asked my mom if she would like to pay off for last few years at once. Since was so little.
There are opportunities in anything. When Bitcoin was $3000 at early 2019 most people here was crying, for me that was opportunity.
October 25, 2020, 09:46:05 AM
I've said it before. The scenario of total doom and destruction for the global economy and US dollar doesn't actually work for me. What's the point of having $1 million Bitcoin if US dollar experiences 1000% inflation, right? Haha.
I mean, $100k bitcoin in a couple of years feels nice. But I'd like to be able to still buy $100k value of today when that happens!
I mean, $100k bitcoin in a couple of years feels nice. But I'd like to be able to still buy $100k value of today when that happens!
October 25, 2020, 08:10:08 AM
how many Bitcoin do you need to live comfy in the event of hyperinflation? is 1 BTC enough?
hyperinflation for nocoiners
hyperdeflation for bitcoiners
I don't need Bitcoin in that kind of living time,I would choose to have a small farm with fruits,veges and animals than having Bitcoin.hyperinflation for nocoiners
hyperdeflation for bitcoiners
maybe i will consider that 1btc you mentioned to convert in fiat and buy land now before that Hyperinflation happens.
Somewhere between 2.718 and 3.141 btc should do it.
seriously?lol 
October 25, 2020, 07:28:29 AM
How many Bitcoin do you need to live comfy in the event of hyperinflation? is 1 BTC enough?
hyperinflation for nocoiners
hyperdeflation for bitcoiners
Want a normal answer? I cant lived comfy with simply 1 btc. Yes this is my honest opinion cause its value on our local currency can be spend within less than a year considering the inflation that could happened. Its big but considering all factors on the expenses for me its not enough especially the way on how I live and spend.hyperinflation for nocoiners
hyperdeflation for bitcoiners
If you are talking about a fair holdings of btc then I could say 5btc to 10 btc would do. Anyway thats my estimation only.
October 25, 2020, 04:09:33 AM
You dont need any. All that you need to fight hyperinflation is access to Bitcoin any moment. As soon as you get hyper inflating currency you change it to Bitcoin. You dont work to be paid in few months time. You want pay immediately. You try to take a loan and buy Bitcoin so you will pay that loan back in hyper inflating currency and will cost you nothing
Hyperinflation is way more complicated than that
You seem to assume that hyperinflation is just about prices rising fast and strong while everything else remains more or less normal. In real life, however, hyperinflation is an outcome of what could be called an economic collapse. Put differently, only a tiny percentage of the general population will be able to ride hyperinflation in a meaningful way as you see it. It is not about "you want pay immediately" as it is more about "whether I'll be paid anything at all"
Hyper inflation is also an opportunity. Just like anything else in life
The difference, though, is whether it is an opportunity for you personally, i.e. whether you can take advantage of it. Hyperinflation is best for those printing money, not those using it (more in the sense of having to use it)
October 25, 2020, 03:53:55 AM
Somewhere between 2.718 and 3.141 btc should do it.
October 25, 2020, 03:03:14 AM
how many Bitcoin do you need to live comfy in the event of hyperinflation? is 1 BTC enough?
hyperinflation for nocoiners
hyperdeflation for bitcoiners
it is not bitcoin that what you want instead the value in Fiat,Bitcoin won't feed you in Hyperinflation instead you need foods and with that happening the value of foods will surely increase and the value of Bitcoin will fell down.hyperinflation for nocoiners
hyperdeflation for bitcoiners
if you are afraid of Hyperinflation then better convert that 1btc now and just let funds stay with you because what you want here is double
favor,you wanted to Hold Bitcoin to increase the value but you did not anticipate that in that time Bitcoin will surely not the best thing to save you.
October 25, 2020, 02:05:38 AM
how many Bitcoin do you need to live comfy in the event of hyperinflation? is 1 BTC enough?
hyperinflation for nocoiners
hyperdeflation for bitcoiners
One bitcoin is not going to be enough, and no matter how much bitcoin you have the hyperinflation is not going to alter the value of the products you are going to buy, it only alters the fiat price and the bitcoin price also will increase not the product decrease so it is going to nullify the value of rising in terms of fiat. hyperinflation for nocoiners
hyperdeflation for bitcoiners
October 25, 2020, 12:52:27 AM
Yes, it indeed depends on someone's lifestyle. If you live a minimalist lifestyle and tending your own garden, you don't need much money to become a self-sufficient individual. And that is one of my goals in the future as I don't have my own garden right now. We can live simply and happy at the same time. So my answer is not big amount of btc.
If someone's lifestyle is too high, he will not feel satisfied with what he got because he will feel that he needs to have more. But we can try to get as many bitcoin as we can, but that will not be easy because we need to realize that every way we use will not always give us the bitcoin.
But yes, I agree that we can live simply and feel happy at the same time because as long as we can feel our daily needs without a problem, that will be enough for us. If we can get many bitcoin, we should be grateful.
October 24, 2020, 11:40:32 PM
how many Bitcoin do you need to live comfy in event of hyperinflation?
You dont need any. All that you need to fight hyperinflation is access to Bitcoin any moment. As soon as you get hyper inflating currency you change it to Bitcoin. You dont work to be paid in few months time. You want pay immediately. You try to take a loan and buy Bitcoin so you will pay that loan back in hyper inflating currency and will cost you nothing. Hyper inflation is also an opportunity. Just like anything else in life.
Have you lived in a country with hyper inflation before? Then how do you know its possible to get a loan? Most likely banks aren't dumb and will either freeze any loans or they will charge HUGE interest rates. Basically the interest rate will be higher than the hyperinflation. So high that people will not be taking in any loans.
I don't think there are any positive opportunites with inflation. Sure you can over-charge for everything but what is the point since the money will be useless anyways. Hyper inflation and corrupt countries cause alot of hardship and poverty and is never a good thing.
October 24, 2020, 07:31:49 PM
Will depend on whats your lifestyle is, no matter how big the amount is if your into leisure and spending too much, you will be out of money fast but if you'll be able to budget it, create a business or plant your own farm with vegetables or have livestock it will help in sustaining your living with guarantee that you will not lose food during the crisis. It's proven during this Pandemic that many relies on their garden and plants as its quarantine and fear of being outside and the market is limited so their only source is to eat and cook their own vegetables for food to have a meal to eat.
Yes, it indeed depends on someone's lifestyle. If you live a minimalist lifestyle and tending your own garden, you don't need much money to become a self-sufficient individual. And that is one of my goals in the future as I don't have my own garden right now. We can live simply and happy at the same time. So my answer is not big amount of btc.
October 24, 2020, 06:53:55 PM
Will depend on whats your lifestyle is, no matter how big the amount is if your into leisure and spending too much, you will be out of money fast but if you'll be able to budget it, create a business or plant your own farm with vegetables or have livestock it will help in sustaining your living with guarantee that you will not lose food during the crisis. It's proven during this Pandemic that many relies on their garden and plants as its quarantine and fear of being outside and the market is limited so their only source is to eat and cook their own vegetables for food to have a meal to eat.
October 24, 2020, 06:46:11 PM
As the market continues to fluctuate, we don't know how many bitcoin we will need if a hyperinflationary situation occurs. If bitcoin price is $10,000 then I think 1 bitcoin is enough, but if bitcoin price $1,000 I think we should have more bitcoin to live comfortably. Simple enough.
Yeah, I also agree that it all depends on every countries value of money so we can't tell exactly how much Bitcoin do we need in order to live comfortably during the inflation. Having 1 BTC might not be enough IMO since not every countries suffer from hyperinflation but if you are in a country that suffer from it. Then, that wouldn't fix everything with just 1 BTC since Bitcoin is not really associated with fiat, it will depend on the market fluctuation. So, it all depends on the market fluctuation.
Agree with you.
October 24, 2020, 04:14:21 PM
This is subjective, and I think we can used Venezuela for example here, the value of their bolivars or shall we shall there is no value already, how much is 1 Venezuelan Bolivar to USD? It's like 1 million is to $2, so that's hyperinflation for you. So think how much BTC should Venezuelan own in consider to live in their country? Yes, there could be numbers but we can't totally say if not will suffice for today or in the next future as hyperinflation continue to erode their local currency.
October 24, 2020, 03:54:11 PM
I'm not sure how useful it is to say a fixed number of bitcoins. Bitcoin doesn't produce a return, so you would need to rely on selling it to have a consistent income. It's also very volatile, so you're never sure if you will wake up one morning and find it has lost 99% of its value for a weird reason (like some sort of exploit being found). You'd be much better off spreading your investments out across lots of assets to really be comfortable - like property, gold, stocks. Bitcoin is not something you can eat or a place you can live.
October 24, 2020, 03:05:54 PM
how many Bitcoin do you need to live comfy in event of hyperinflation?
You dont need any. All that you need to fight hyperinflation is access to Bitcoin any moment. As soon as you get hyper inflating currency you change it to Bitcoin. You dont work to be paid in few months time. You want pay immediately. You try to take a loan and buy Bitcoin so you will pay that loan back in hyper inflating currency and will cost you nothing. Hyper inflation is also an opportunity. Just like anything else in life.
October 24, 2020, 02:57:28 PM
As the market continues to fluctuate, we don't know how many bitcoin we will need if a hyperinflationary situation occurs. If bitcoin price is $10,000 then I think 1 bitcoin is enough, but if bitcoin price $1,000 I think we should have more bitcoin to live comfortably. Simple enough.
So, it all depends on the market fluctuation.
Agree with you. October 24, 2020, 02:35:45 PM
The market varies with time. We can't have a precise calculation on the number of bitcoin required for a comfy living. Maybe in today's calculation one bitcoin is enough, but we don't know how the market is gonna change tomorrow. So, it all depends on the market fluctuation.
^ Definitely right, because the price of bitcoin was determined by the demand and supply which the bitcoin price based. There is no exact amount but if you will keep even a small fraction of bitcoin weekly or monthly, there is a possibility that the bitcoin will pump up again fast and I don't if you call this hyperinflation. Nevertheless, let see and wait for what will happen next, but at least, we're good enough.
October 24, 2020, 01:23:20 PM
The market varies with time. We can't have a precise calculation on the number of bitcoin required for a comfy living. Maybe in today's calculation one bitcoin is enough, but we don't know how the market is gonna change tomorrow. So, it all depends on the market fluctuation.
October 24, 2020, 12:39:18 PM
Even though inflation is bad in the US and in 5-10 years time we might pay double for bread, it's not considered hyperinflation. Generally that happens in very corrupt countries. If hyperinflation happened to the US dollar then the entire finance globally would be messed up since many countries hold US dollars in reserve.
The inflation figures we are given by statistics aren't correct. Remember 10 years ago when you went shopping? You spent about $100 for food for 2 people. And now it's closer to $200 for the same amount of food pretty much. The only thing just as cheap in my opinion is fuel. I remember gas prices haven't changed much in the last decade. Good thing for gas guzzlers.
The inflation figures we are given by statistics aren't correct. Remember 10 years ago when you went shopping? You spent about $100 for food for 2 people. And now it's closer to $200 for the same amount of food pretty much. The only thing just as cheap in my opinion is fuel. I remember gas prices haven't changed much in the last decade. Good thing for gas guzzlers.
October 24, 2020, 10:11:02 AM
That can't be calculated for sure. Bitcoin is volatile and the price changes all the time so depending also on periods of hyperinflation you might need a little bit more or less.
It's good to have something saved in Bitcoins but having in mind risk and volatility it's always good to have some fiat currency, gold or some other asset of value that might help you in difficult financial times.
It's good to have something saved in Bitcoins but having in mind risk and volatility it's always good to have some fiat currency, gold or some other asset of value that might help you in difficult financial times.
October 24, 2020, 09:11:11 AM
Let's look how people are living now in Venezuela with their hyperinflation, and how other countries in South America and Europe coped with that.
It would be good to have few bitcoins for sure, but problem would be to exchange them for food, gas and bills.
Having your land, garden and vegetables with other store of values and bitcoins would be the best.
It would be good to have few bitcoins for sure, but problem would be to exchange them for food, gas and bills.
Having your land, garden and vegetables with other store of values and bitcoins would be the best.
October 24, 2020, 09:11:02 AM
how many Bitcoin do you need to live comfy in the event of hyperinflation? is 1 BTC enough?
hyperinflation for nocoiners
hyperdeflation for bitcoiners
hyperinflation for nocoiners
hyperdeflation for bitcoiners
I'm afraid this is not a valid question until Bitcoin's price is tied up with fiat.
What you can afford to buy with your Bitcoin is pretty much based on how much Bitcoin is in fiat. In the first place, is there any store all over the world selling whatever kind of goods and services which puts up a fixed price in Bitcoin, oblivious to its rise and fall as far as the US dollar is concerned?
I'm afraid there is none so I guess the question is at best premature. We cannot find any valid basis for its answer.
October 24, 2020, 08:39:48 AM
how many Bitcoin do you need to live comfy in the event of hyperinflation? is 1 BTC enough?
The question is what kind of hyperinflation are you talking about, because there have been really drastic cases in history. The example of hyperinflation in Zimbabwe (2007/08) was so great that prices doubled every 25 hours, and the most drastic example is Hungary (1945) when prices doubled every 15 hours.
In such or similar circumstances, I think that just 1 BTC would not be enough for you no matter where you live, but far from it that would not be helpful for you to overcome the crisis more easily.
October 24, 2020, 05:10:21 AM
Let's be realistic. In times of hyperinflation it is not Bitcoin that we really need. Besides, theres no guarantee that Btc's value will level or go beyond the costs of living during that scenario.
The most important lesson that the pandemic taught us today is to have something that could sustain and make you food (agriculture is the best example).
Pandemic, hyperinflation, you name all of the crisis that comes to humanity, but nothing much to worry If you can produce your own food.
The most important lesson that the pandemic taught us today is to have something that could sustain and make you food (agriculture is the best example).
Pandemic, hyperinflation, you name all of the crisis that comes to humanity, but nothing much to worry If you can produce your own food.
October 24, 2020, 04:33:18 AM
That abstract question doesn't make much sense unless you specify. If there's a hyperinflation, the price of bitcoin will usually go through the roof.
(....)
Why is that possible that we can guarantee that bitcoin will really do a massive pump if there will be hyperinflation?(....)
For me, it does not matter how much your Bitcoin will hold, even how much is that there are really a lot of possibilities it will slowly be used as for your expenses as you live. The one you should think is, HOW will you make more Bitcoins or increase your funds to sustain your family or self to live, even there is already hyperinflation.
October 24, 2020, 04:33:01 AM
How much would be the consumables if there's an hyperinflation? Bitcoin's price is pegged with dollar and just like in Venezuela, people are surviving if they receive remittance or sell bitcoin in dollar's price. Very situational and hard to tell how much would be enough to survive if we're going to face a crisis just like hyperinflation and not just to survive but to live comfortably in that situation.
If fearing hyperinflation you're beter off with land and an apple tree or something... With btc you could save at least the value of that...
Fruits and vegetable plantation is what I'm thinking too. It will literally save a lot of money and will help to survive in such hard situations. October 24, 2020, 03:14:22 AM
Yeah I agree, we can't really know why number of bitcoin could someone live comfortably in an event of hyper inflation. It's up to where you are living, you can live with 1 BTC and yet this is not enough if you are staying to let's say a first world country. But in any case, in order to survived, you can start with at least 1 BTC, or be a member of 1 in a 21 club.
October 23, 2020, 11:41:08 AM
how many Bitcoin do you need to live comfy in the event of hyperinflation? is 1 BTC enough?
hyperinflation for nocoiners
hyperdeflation for bitcoiners
There is no way to know until after the fact, basically when it comes to hyperinflation you never know how high it will be as governments for the most part once they realize they have destroyed the economy to that point for the most part hide that information, depending on what kind of living standards you want to have, the number of people that depend on you or how much you want to take advantage of the situation the amount of bitcoin you need will vary wildly.hyperinflation for nocoiners
hyperdeflation for bitcoiners
Just to give an example while it is known that during the US Great Depression many people lost their jobs and were desperate, a very little known fact is that more millionaires were created during this time than at any other moment before during the history of the US, why? Because the few that had gold and other hard assets used them to buy stuff for cheap from the ones that were desperate for money and when things went back to some sort of normality they now had a huge number of assets.
October 22, 2020, 10:04:59 PM
That abstract question doesn't make much sense unless you specify. If there's a hyperinflation, the price of bitcoin will usually go through the roof. And it's not the same going to $100,000 or $1,000,000. Likewise, we need to take into account how much basic consumption articles would be in that hipothetical scenario, for example, if a loaf of bread cost $10 or $100.
So it all depends.
So it all depends.
October 22, 2020, 02:39:54 PM
Bitcoins aren't food though...
If fearing hyperinflation you're beter off with land and an apple tree or something... With btc you could save at least the value of that...
If fearing hyperinflation you're beter off with land and an apple tree or something... With btc you could save at least the value of that...
October 22, 2020, 02:10:40 PM
how many Bitcoin do you need to live comfy in the event of hyperinflation? is 1 BTC enough?
hyperinflation for nocoiners
hyperdeflation for bitcoiners
hyperinflation for nocoiners
hyperdeflation for bitcoiners
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