How to survive hyperinflation? | Bitcointalksearch.org

Fortify

legendary

Activity: 2646

Merit: 1176

Quote from: chrisadler on November 14, 2023, 09:58:37 AM

How do you strategically navigate hyperinflation to safeguard your financial well-being?

Would you invest on crypto, stocks or household when the cash is not the king?

What is your example? Many countries will never experience anything close to hyper inflation, if you compare it to the very worst examples that have happened in the past - notably Zimbabwe. It depends what your cutoff or definition of hyper inflation actually is in order to give a fair comment. Many major economies are seeing things like 10% inflation, which to them is highly unnatural but others are seeing 50%+ rises per year which is heavily damaging and destabilizing. It can also heavily depend on how much slack your economy has built in, whether your citizens are already quite poor and barely managing, or if you have a wealthy base that can weather a year or two of inflated prices - but not with the expectation they'll come back down.

CageMabok

hero member

Activity: 910

Merit: 789

Quote from: niall51 on March 16, 2024, 06:36:33 AM

For me personally, so that my wealth is not affected by inflation, I will buy Bitcoin, most of my assets, buy gold too and buy valuable luxury watches because they are easy to carry everywhere, I will not save money in cash, we know fiat every year. If hyperinflation occurs, many of our assets are in the form of cash, then the value of our money will definitely decrease

It would be better if you replaced your luxury watch option with earth or other precious metals such as silver. Because Bitcoin and Gold have indeed become two assets that are very commonly relied on by everyone at the moment in terms of avoiding hyperinflation, but for luxury watches I think they will only be bought by people who already know watches, not by everyone because Some people still think why wear a luxury watch if a cheap watch can still show the same time as a luxury watch.

Churchillvv

member

Activity: 66

Merit: 5

Eloncoin.org - Mars, here we come!

Which ever anyone chooses to invest in is a good one but perhaps we are in BTT, what are you expecting? I would chose to invest in Bitcoin, for over years now there has been no asset that performed like Bitcoin and it's a good ground to say that Bitcoin is the best option.

Gold is good but I wouldn't buy gold for some reason because of my geographical location.

I would also go for house-hold (real estate investment) but that requires a lot of capital which means it's more of the rich only and my little more falls in between gold and Bitcoin so I prefer to go for Bitcoin.

Bloodseekers

full member

Activity: 769

Merit: 108

Quote from: Hamphser on March 16, 2024, 06:59:51 AM

If you are really that someone whose really that fond of saving up tons of cash in your bank account then you wont really be that exempted into that inflation.Whereas compared into those people who had
make use of those amounts to put up on investments or businesses for them to counter that inflation on which it do becomes even more worst year by year. If you dont have that kind of thinking
about into yourself then you would really be just that basically putting up yourself into problems considering that inflation would hits your hard if you do keep on storing up those cash.

Survival would really be just that depending on how well you do handle yourself on such condition or situation on which not all would really be mindful about their actions.
If you do miss out on taking up some actions then this is the only time that you would really be able to feel the effects.

Saving is not the right choice if we are aware that inflation will occur which will make the savings we have lose the value of what we have collected and is very different from someone who has decided to invest and they can run their investments well so that this will very good for their financial preparation in the future.

Yes, of course if we want financial stability then we have to be able to handle situations for their survival and for those who have prepared well of course they will be able to easily face various kinds of situations including hyperinflation which everyone will find difficult if they don't. prepare anything that can make them survive in that situation.

Hamphser

sr. member

Activity: 2436

Merit: 324

Quote from: niall51 on March 16, 2024, 06:36:33 AM

Quote from: chrisadler on November 14, 2023, 09:58:37 AM

How do you strategically navigate hyperinflation to safeguard your financial well-being?

Would you invest on crypto, stocks or household when the cash is not the king?

For me personally, so that my wealth is not affected by inflation, I will buy Bitcoin, most of my assets, buy gold too and buy valuable luxury watches because they are easy to carry everywhere, I will not save money in cash, we know fiat every year. If hyperinflation occurs, many of our assets are in the form of cash, then the value of our money will definitely decrease

If you are really that someone whose really that fond of saving up tons of cash in your bank account then you wont really be that exempted into that inflation.Whereas compared into those people who had
make use of those amounts to put up on investments or businesses for them to counter that inflation on which it do becomes even more worst year by year. If you dont have that kind of thinking
about into yourself then you would really be just that basically putting up yourself into problems considering that inflation would hits your hard if you do keep on storing up those cash.

Survival would really be just that depending on how well you do handle yourself on such condition or situation on which not all would really be mindful about their actions.
If you do miss out on taking up some actions then this is the only time that you would really be able to feel the effects.

niall51

sr. member

Activity: 533

Merit: 250

Sugars.zone | DatingFi - Earn for Posting

Quote from: chrisadler on November 14, 2023, 09:58:37 AM

How do you strategically navigate hyperinflation to safeguard your financial well-being?

Would you invest on crypto, stocks or household when the cash is not the king?

For me personally, so that my wealth is not affected by inflation, I will buy Bitcoin, most of my assets, buy gold too and buy valuable luxury watches because they are easy to carry everywhere, I will not save money in cash, we know fiat every year. If hyperinflation occurs, many of our assets are in the form of cash, then the value of our money will definitely decrease

sekalitas

sr. member

Activity: 672

Merit: 251

Chainjoes.com

Quote from: chrisadler on November 14, 2023, 09:58:37 AM

How do you strategically navigate hyperinflation to safeguard your financial well-being?

Would you invest on crypto, stocks or household when the cash is not the king?

During hyperinflation, to minimize cash holdings and preserve purchasing power, I would prioritize spending remaining cash quickly on essential goods and services before their prices rise further. I would then continuously invest excess cash into assets like cryptocurrencies, stable foreign currencies, and hard assets like gold.

bettercrypto

sr. member

Activity: 1316

Merit: 268

★Bitvest.io★ Play Plinko or Invest!

What I'm doing right now is investing in real estate—not even a big lot, but at least a farm lot that can grow vegetables, fruits, and livestock like chickens and pigs. It's only what we can afford to buy; after all, we are the ones who know our capabilities in these types of investments.

Small businesses like the mass food industry can also be done because this type of business is a necessity for people. And people will really look for food wherever they go.

boyptc

hero member

Activity: 2982

Merit: 678

★Bitvest.io★ Play Plinko or Invest!

People tell save, invest, etc. during an hyperinflation. I haven't experienced that but in those times I can say that cash and cashflow is king.

That means to say to increase your source of income and that is what you have to do. Take as many hustles and side incomes that you can.

Be it from another investment, business, part time job or anything to make your cash flow more active and higher to survive this type of economic status.

moneystery

full member

Activity: 644

Merit: 152

★Bitvest.io★ Play Plinko or Invest!

Quote from: Jegileman on January 27, 2024, 11:57:49 AM

With the rise of inflation in my country, I would rather invest in crypto than any of the above listed by you. In this period, although I haven’t invested in any other assets asides from crypto and I have gained and not too affected by the inflation because of how the value of my assets in crypto is rising against my country’s currency. This has only given me the opportunity to still get the same quantity of goods with the percentage of my income reserved for that purpose every time I want to buy but it hasn’t really helped me become richer than I was before. I love saving in crypto (stable coins) than in fiat because of the depreciation of the fiat currency in respect to the stable currencies.

what you do might make your country's economic condition worse, but i would probably do the same thing if hyperinflation happened in my country, because the most important thing for me is to save my wealth first. but compared to saving it in stablecoins, i prefer to save my wealth in bitcoin, then some in stablecoins. because bitcoin has the opportunity to increase in value and that can make me profit amidst the hyperinflation that is happening and that might help my finances.

blckhawk

sr. member

Activity: 1456

Merit: 325

★Bitvest.io★ Play Plinko or Invest!

Just invest about 65% of what I earn in bitcoin and the rest for bills and other leisure stuff and I'm all good and safe for the hyperinflation that will happen in the country, hell even now, my country is still experiencing inflation although it's a small rate of inflation, it's still a constant thing that's continuously increasing monthly so basically, most food products and a lot of the basic services that was affordable is already concerning to spend at whenever the opportunity presents. I'm planning on upping my percentage of investment in bitcoin because I feel like there's bound to be something big that's going to happen to bitcoin soon and I don't want to miss out on that in case it happens.

Barikui1

full member

Activity: 196

Merit: 123

To me the best way to safeguard your finances during hyper inflation is to hold your money in anything that appreciate in value overtime, it can be either gold land or Bitcoin, at that time of hyper inflation, refuse the urge of holding any fiat, in order to protect your finances.

But if you are a business person, to safeguard your finances is very important, so as to stay in the business, what you have to do is to hold all your money in goods, by stocking your shop with a lot of goods, so that if the price of goods are increasing, you would only sell at the current market price not the former market price.

Hispo

legendary

Activity: 1162

Merit: 2025

Leading Crypto Sports Betting & Casino Platform

Another thing I can think of, about surviving hyperinflation in a developing country is how one can save money on food by only buying high calorie food and replacing animal protein in vegetal protein, it is somethinf I have seen being done here during the worst days of hyperinflation,.when the price of goods changed every single day.
One can stop buying chicken and beef, replacing it with beans and maize; sugar can also be expensive in times of inflation, specially if ones country is not a producing entity of sugar cane, so instead getting energy or calories out of sugar, one can instead stop adding it to food and consume extra rations of rice or maize, it also helps to decrease the chances of getting lingering health problems in the future, like diabetes, and I can assure you, medical attention and drugs as insulin can be pretty expensive in inflationary economies.
If possible, I would also suggest to use alternatives for transportation, like riding a bicycle, instead using a car, it saves fuel in short distance travels to the supermarket or market. Any little thing one can do in order to save money helps to survive in high inflation

topbitcoin

hero member

Activity: 1582

Merit: 689

Leading Crypto Sports Betting & Casino Platform

To be able to survive when hyperinflation occurs, of course this is not an easy thing to do and overcome. However, just in case something happens, we must at least be able to take anticipatory steps to protect ourselves and the assets we own. and saving and investing is one way that is quite a solution for us to do. Saving money in the form of foreign currency which is considered stable or saving it in the form of gold has become an effort that many people often make. However, only a few people are able to consider and decide to save and invest their wealth in the form of cryptocurrencies, even though if we think again, these crypto assets are considered to have fairly low volatility. and some even see that crypto money like Bitcoin is considered a hedge against inflation, which is because its supply is very limited and is not affected by the monetary policy of any country's government.

AnonBitCoiner

sr. member

Activity: 1358

Merit: 326

Eloncoin.org - Mars, here we come!

There are so many ways for investment and I think that investment way should be selected which consists of little or no risk. It is a better way to build a house and then give it on a rent so it will give you a passive income therefore if you invest in crypto so it will become risky because of fluctuations.

People are preferring investment method according to their interest so I think they will not be effected by volatility, Fluctuations and other issues if they are interested in crypto, stock of something else. Bitcoin is also a good investment source but due to its volatile nature people often don't understand the reality and don't continue their bitcoin investment and sell it due to fear of loss so I think for them it is a risky field if you have no knowledge.

MissNonFall9

member

Activity: 70

Merit: 14

★Bitvest.io★ Play Plinko or Invest!

Finding the cause of the problem is crucial to solving every problem. Since hyperinflation is a general issue, it is difficult to pinpoint a specific cause So we can invest in Bitcoin or trading platforms to survive the downside of hyperinflation.
We know that the solution to the hyperinflation problem will be to prevent the center from creating excess currency.
If the solution to the hyperinflation problem is to bring stability between aggregate demand and aggregate supply from the center, we should be investing more in Bitcoin. Only then will we survive hyperinflation and secure future mobility.

JayTrain

full member

Activity: 1092

Merit: 105

Sugars.zone | DatingFi - Earn for Posting

In my opinion, a strategy for managing hyperinflation depends on many factors, such as personal financial goals, risk level and available resources. One way to protect against hyperinflation may be to diversify your portfolio investments. Investing in cryptocurrency, stocks or your own property may be an option, but it is important to consider your knowledge, experience and capabilities.

olib123

member

Activity: 183

Merit: 14

Chainjoes.com

I think a lot of people in countries with Hyperinflation, switch to more stable Fiat currencies, like the US Dollar. This is one way to protect the value of your wealth, but you can consider other methods.. like buying Gold or even buying some bitcoins (BTC)
Buying some stocks is another good option

wendty

member

Activity: 154

Merit: 10

The safest way to survive hyperinflation, especially during these times when a lot of countries' economies are down and unpredictable is to invest in traditional assets like gold and other minerals and real estate. Bitcoin is not old but since it is not controlled by governments and financial institutions, I am confident about it. If we still need to diversify more of our investments, putting some funds into stocks, bonds, and even some foreign currencies could work well in the long run. I read some techniques of these rich families and this is what they are doing.

shinratensei_

legendary

Activity: 3080

Merit: 1024

Leading Crypto Sports Betting & Casino Platform

Quote from: trendcoin on January 27, 2024, 07:59:20 PM

In a hyperinflationary environment, it is certainly important to invest in hard currencies with a stable supply, but I think the most important thing is to stock up on food and clothing because I feel that food and clothing prices have increased more. I do my shopping in bulk, especially for basic needs. For example, I stock up on flour, oil, sugar, and other foodstuffs that will last me for more than a few months. I know that when I do this, I am not curbing hyperinflation and I am creating a short-term demand inflation, but I cannot protect myself from hyperinflation.

that could make things worse with the inflation, but well sometime we have no choice, after all just imagine having 1000 people in a town to have the same thought process the food will run out and the money will become even more worthless.
if its just basic needs, its good practice to always have fertile land for farming just in case, after all who knows when the hyperinflation will occur then we can get some good income from it altogether considering the lack of food and then just wait until things get better maybe the currency will get better as well in term of value since usually these hyperinflation situation are gonna be resolved by the respective government and then we will get benefits of selling at high, applying principle of trading here, but of course owning land, farming in it, not something easy to do so many things need to be considered.
but yes when we are lacking land to start farming for the sake of surviving, just hoarding all those canned foods are just the only way to go, there's not really much choice is it otherwise other people aren't gonna be doing the same thing.

Topic: How to survive hyperinflation? (Read 1436 times)