How to survive hyperinflation? - page 7.

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Quote from: chrisadler on November 14, 2023, 08:58:37 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?

Spend your fiat to invest in bitcoin. While the value of bitcoin appreciates, the value of fiat depreciates so you need to dispose it before it totally loses its value. But never spend it on unnecessary means, but use it to increase your net worth. And through investing bitcoin while incorporating DCA as well, the risk of losing may be lessen while you are increasing the amount of bitcoin in your portfolio.

Learn to diversify your investment as well. Bitcoin is good and profitable but its not enough to safeguard your financial well-being. Invest in other assets like gold, stocks and even landed properties, once their price appreciates, your net worth value will also increase and become highly secured.

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Quote from: Hypnosis00 on November 17, 2023, 04:18:48 PM

The best thing to do is to spread your investment to different investment platforms stocks, crypto, and any opportunities that could give us a return. In this current situation where inflation continues rising, it was really hard to just rely on a single form of investment. Aside from that, we should be smart in spending our money because even if we have multiple sources of income, if our finances are not managed well, still get empty.
It is best to invest more in stocks than crypto or bitcoin IMO.

Spreading or diversifying our assets and portfolios is a good idea. But just to give some idea that it's not always diversification is a good thing. If you diversify a lot, make sure that you're able to pick and breakdown to the best of the best investments that you have.

And that is because with this hyperinflation, you don't know if the other investments you have will be stronger than the best that you have.

I do agree with those that have been mentioned but stocks are also volatile and many of them can be outperformed by crypto and to be specific by Bitcoin.

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Quote from: mv1986 on November 17, 2023, 10:41:35 AM

This is a question that depends extremely on individual circumstances. There is no rule of thumb to that. I guess one quasi rule of thumb could be the higher the amount of spare cash you have, the more it makes sense to shift your cash wealth into assets that you either know very well and believe in, or have a track record that you can comprehend. I am not saying that history is a great indicator of future performance, but there are some assets or also foreign currencies that historically do better than others during inflation. But if you don't have spare cash at all, then the "survive" in OP's title probably makes literally sense because that is the first thing you have to do, use your cash to pay for any necessities and unavoidable bills.

Another good strategy at the time is to get rid of your debts as soon as you can, and this is because in almost all contracts banks have a clause that basically says that when hyperinflation strikes they can rise the interest rates in the same proportion, so a small debt can spiral out of control in a matter of months if you do not pay it in time, so in that case it makes sense to put all your effort into paying those debts and only then you can think about trying to protect whatever you may have left at the time.

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Quote from: chrisadler on November 14, 2023, 08:58:37 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?

The best thing to do is to spread your investment to different investment platforms stocks, crypto, and any opportunities that could give us a return. In this current situation where inflation continues rising, it was really hard to just rely on a single form of investment. Aside from that, we should be smart in spending our money because even if we have multiple sources of income, if our finances are not managed well, still get empty.
It is best to invest more in stocks than crypto or bitcoin IMO.

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Quote from: chrisadler on November 14, 2023, 08:58:37 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?

Well, ive been investing in crypto ever since I discovered it in 2016, and I have been at peace with my self and my financial life, though without minor challenges here and there which is completely normal for every living human.

Inflation is always as a result of governments poor decision that turn around to devalue fiat money, causing it to lose purchasing power, which in turn throw many people into poverty, most especially those that are earning a fixed amount of money on monthly basis, when fiat loses value, things becomes more expensive, and for the fixed salary earner, he or she will wake up one day to discover that his or her salary can no longer buy him or her as much as it used to, and if such a person does not find other means of earning, he or she will gradually slip into the poverty zone.

I myself was working and earning a fixed monthly salary, and I realized the above, and it's fear pushed me into searching for other ways I can make money, and then I discovered crypto, and since I started buying and selling crypto, and also investing and holding for long term, my financial life have completely changed, hyperinflation in my country doesnt affect me that much anymore because i make my money in a different currency.

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Quote from: The Sceptical Chymist on November 17, 2023, 02:08:55 AM

Quote from: meser# on November 16, 2023, 06:27:47 AM

For instance in my country Turkiye we are facing higher inflation or you can call it hyperinflation. Last years almost everything price double maybe triple on sth.

High inflation isn't necessarily hyperinflation, though I don't know where the cutoff is; anytime I think of the latter it's usually in the context of the Weimar Germany era, when prices would shoot up by thousands of percent points daily (if I'm not mistaken). If you're saying that prices doubled or tripled in the course of a year in Turkey, I'd probably consider that extremely high inflation....but no matter how you categorize it, it sucks beyond belief.

The situation isn't great anywhere these days from what I can tell, and the worst part is that our elected leaders don't seem to have a solid plan as to how to extricate any of us from the mess that they've created. If the question at hand is how to survive a hyperinflation scenario, my only thought would be to put your money into a currency that isn't inflating as rapidly. That's what Venezuelans did when they were hit with hyperinflation not too long ago. The only other thing is to buy as much stuff as you can as quickly as you can--and neither option is ideal.

Yes youre right we can't say officially hyperinflation but for the locals its look like hyperinflation. You know before the Covid-19 1 usd was around 6-7 Turkish Lira but now its almost 30 Turkish Lira. And main problem in here was our government chosed different economic plan and after election they give up on their plan. So why they insisted for 3 years and people suffered for 3 years who don't have enough income source and still they suffered economic way. Because they lost their buying power. Therefore I'm saying that we can call it as a hyperinflation.

I have a good saying for this situation: More expensive than yesterday, cheaper than tomorrow!

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This is a question that depends extremely on individual circumstances. There is no rule of thumb to that. I guess one quasi rule of thumb could be the higher the amount of spare cash you have, the more it makes sense to shift your cash wealth into assets that you either know very well and believe in, or have a track record that you can comprehend. I am not saying that history is a great indicator of future performance, but there are some assets or also foreign currencies that historically do better than others during inflation. But if you don't have spare cash at all, then the "survive" in OP's title probably makes literally sense because that is the first thing you have to do, use your cash to pay for any necessities and unavoidable bills.

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Quote from: chrisadler on November 14, 2023, 08:58:37 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?

I do both making an investment in crypto and staking a fiat currency in the banks not all the time you need to put an investment better to set a side secured funds for emergencies like this current things happen the inflation is too high the market price goes up and of course, you need to have at least a budget for it, I deal with at least 3 months or more to cater my needs with my emergency funds and if still enough and have some extra I do an investment because its not good if you focus in one field of keep spending only with the help of investment you can now have a chance to increase your profit through it with proper management of course, different investment with good cashflow brings you more than enough to this hyperinflation.

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Quote from: Xal0lex on November 16, 2023, 11:15:20 AM

The price of gold and silver is not stable either and has its own volatility. Yes, the volatility of gold and silver is less than that of bitcoin, but it is still there. Therefore, investing in gold and silver should also be smart.

Agree with your point as gold rate is not so volatile therefore we can easily get profit from it if we keep our gold for some years. Those who have make investment in gold five or six years ago will have larger profit if they sell their gold now. But if talk about security then I think bitcoin is more secure than gold because gold is physical asset and everyone can access it easily but to access bitcoin only owner is permissible or that person which know about the secret information about bitcoin.

Both are beneficial but it depends on desires that at which asset a person feel satisfied but it can be possible that existence of gold will remains always but existence of bitcoin is in doubt. The price of gold is increasing with the same speed as that of bitcoin therefore according to age and importance both can be good candidates in our financial system.

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It is hard to survive hyperinflation but with the help of a professional investment adviser with the addition of investment diversification in cryptocurrency, gold, and silver with the provision of skill and service to earn additional income in foreign currency like USD.
I believe this is a good way to survive any hyperinflation.

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Quote from: chrisadler on November 14, 2023, 08:58:37 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?

Stocks or households....You mean real state?

Well, I think stocks and real state are interrelated as both could be affected since it's the countries economic struggle are the reason for hyper inflation. So I guess the safest investment here is to put our money to crypto, but we have to be specific since crypto is a big market, and by saying specific, it should be on bitcoin only.

cash no king, bitcoin is.

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The greatest method I have come to find would be just letting your income grow with it, and purchase stuff beforehand. It was a stupid move maybe, but me and my wife purchased A TON of stuff at the start of hyperinflaiton in our country, and right now, even though we still have a lot of debt to pay, that debt is lesser percentage of our income, compared to the start of it.

We still have no money at all, and a ton of debt, but at least it looks like we are capable of living better nowadays, specially in this last two months it has gone staggeringly better thanks to my boss as well. So I am guessing, by start of 2024, it will be insanely much better too, with her getting a bigger increase in her income. So all in all, I have to say that increasing income, and making a debt to grow, is a smart move that helps you on the long run. I personally know that it is not that easy to handle it, but you have to learn to do it somehow in order to grow during hyperinflation.

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Quote from: chrisadler on November 14, 2023, 08:58:37 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?

I prefer to chose bitcoin investment. And when it profits, I plan to add on buying properties. I have seen in my country that despite of inflation, people still chose to continue to rent regardless of the highly monthly rentals, so my plan is to buy ready made apartments so that I can easily generate good profits from it.

If inflation becomes uncontrollable in the next months, most likely we will end up with hyperinflation. And investing through bitcoin and various assets are the best possible ways that we could beat hyperinflation, if not controlled it.

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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.

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Quote from: gunhell16 on November 16, 2023, 06:42:22 PM

Quote from: super bako on November 16, 2023, 05:35:53 AM

Quote from: Xampeuu on November 16, 2023, 12:03:15 AM

When hyper inflation occurs, of course what we do is secure our assets so that their value does not decrease, of course from the many investments we can choose, including cryptocurrency, but we also have to know the characteristics of cryptocurrency, because many of them fail and do not meet initial expectations. On the other hand, land is also a good investment with minimal risk, and of course the increase can exceed inflation

I agree more with the land business, because I have some land that is not large but close to the road. Now many people are offering to buy with fantastic amounts, the price keeps going up. In terms of measuring and observing inflation to be efficient and manageable, crypto is also good for anticipating inflation but in the short term for me

If your real estate is near or just next to the road or people's passage, I think that is your advantage if you are building a business, because the status of your land may even be a commercial lot. It seems that the time will come when the area can be developed.

Now, if you sell it, it is for sure that you will be able to sell it for a good price that will also help you for your personal use or for your family as well. Of course, that depends on the extent of real estate you have.

I don't think I will sell it because of the potential for being close to the road and easy access anywhere. What I'm thinking about is just wanting to develop a shop on that land, if for example in the next bull season I can get big profits from my favorite coin investment and the airdrop can be done. if big inflation comes it might be an obstacle to my development, sometimes inflation creates various news that makes the market red

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Quote from: chrisadler on November 14, 2023, 08:58:37 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?

Now is a very difficult time for the whole world, except for highdeveloped countries like Japan, but I know that prices there are not cheap, even if huge incomes.

I am sure that not all users of the forum were able to accumulate enough cryptocurrencies after the bullrun and postpone it in the form of fiat or stablecoins.
Therefore, many forum members have a full-time main job. Unfortunately, there is not enough income from such work now. And those who can postpone at least a little are trying to multiply the deferred money through cryptocurrencies. Now it is much more difficult to save money than before because of high prices. We have to save money.

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Quote from: Poker Player on November 15, 2023, 10:24:26 PM

Quote from: Uruhara on November 15, 2023, 10:10:46 PM

But there is a difference between hyper inflation and high inflation. Currently, high inflation alone makes it difficult for many people. So when hyper inflation comes. I don't want to imagine it.

The problem with hyperinflation is that it makes everyone poorer very quickly, and even if you are one of the lucky ones who has been able to transfer your wealth to financial assets other than fiat currency crap, you are going to find yourself in an environment where people are starving, so you better not expose too much of your wealth as you may be a clear target for thieves and other criminals. Besides, even if you manage to live well by having wealth in other financial assets, living through the drama of a hyperinflationary environment is not pleasant for anyone.

That's the scary thing about hyper inflation. Due to the drastic decline in the value of the currency and accompanied by a spike in the prices of all necessities which continue to increase rapidly. And those most affected are those who save their money in banks. They will realize that their money has become worthless. All their efforts in collecting money will feel like wasted time. because hyper inflation is happening so fast. That's why I don't want to imagine it. Because the situation would be really chaotic. It's not just people who will start to starve because they won't be able to afford food because food has become so expensive. But what is most frightening is that the crime rate in countries experiencing hyper inflation usually increases rapidly.

Even though I didn't experience it. But my parents always tell me about their experiences when they were children when the situation in our country experienced hyper inflation. Maybe it was around 1963-1966. Well, that's when our country experienced hyper inflation. Even at that time my parents were probably still small. Because he said that he even had to share a plate of rice with his 5 siblings. Even at that time the currency in our country had to be redominated from Rp. 1000 to Rp. 1.

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Quote from: chrisadler on November 14, 2023, 08:58:37 AM

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

Hell yeah!!! I will invest it on crypto, or whatever asset that I have access with. Real Estate, cryptocurrency, stock market, bonds, Index funds or whatever asset it is. Investing on an asset when you're country is suffering a hyperinflation is I think the best solution.

Yes there's a risk in investing into different asset, but that's way better than just holding straight up cash knowing that the buying power of that is going down at a rapid pace. On the other hand though, it's very easy for me to say these kind of things because I didn't ever experience hyperinflation yet, but I'm afraid for those people in those countries that are experiencing hyperinflation now that are just earning enough for their family and no extra money to spare to buy assets. Kind of unfortunate TBH.

You have 2 options though. Go to another country where there's no hyperinflation, but this is really hard, or work but don't get paid by your native currency and accept other currencies.

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Quote from: chrisadler on November 14, 2023, 08:58:37 AM

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

Maintaining a more stable income stream, reducing unnecessary spending and trying to live frugally are common steps in dealing with hyperinflation. The level of difficulty may be great but the consequences will be much more severe when one is unable to navigate properly.

Quote from: chrisadler on November 14, 2023, 08:58:37 AM

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

It depends on the financial level we have and previously people saw gold as a way to protect their unproductive money, now it depends on how someone understands Bitcoin in particular. Because hyperinflation causes the price of goods to rise uncontrollably and the value of the currency to fall drastically, we must have a way to protect it and bitcoin is another alternative to gold which has been discussed by people before us.

The decisions we will take will definitely be based on the level of knowledge regarding bitcoin and if we talk about bitcoin issues it may only be limited to those involved in it. It's not certain that people who are not familiar with bitcoin will choose the same decision as we did. Based on what is meant by a decision, it means that people understand Bitcoin and its journey process, so that after making a decision they what to do correctly.

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Quote from: meser# on November 16, 2023, 06:27:47 AM

For instance in my country Turkiye we are facing higher inflation or you can call it hyperinflation. Last years almost everything price double maybe triple on sth.

High inflation isn't necessarily hyperinflation, though I don't know where the cutoff is; anytime I think of the latter it's usually in the context of the Weimar Germany era, when prices would shoot up by thousands of percent points daily (if I'm not mistaken). If you're saying that prices doubled or tripled in the course of a year in Turkey, I'd probably consider that extremely high inflation....but no matter how you categorize it, it sucks beyond belief.

The situation isn't great anywhere these days from what I can tell, and the worst part is that our elected leaders don't seem to have a solid plan as to how to extricate any of us from the mess that they've created. If the question at hand is how to survive a hyperinflation scenario, my only thought would be to put your money into a currency that isn't inflating as rapidly. That's what Venezuelans did when they were hit with hyperinflation not too long ago. The only other thing is to buy as much stuff as you can as quickly as you can--and neither option is ideal.

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