Inflation is the main cause of financial depression - page 2.

YOSHIE

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Quote from: SAHASAN on April 16, 2024, 06:38:08 AM

Maybe a day will come when every country will publicize the blockchain system as their official currency and the price of Bitcoin will skyrocket may be that time only satoshi will be 1$ or more .........

Before you talk about Blockchain, you should first study the function of Blockchain technology for banking.
I will give an example of the advantages of Blockchain for banks.

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Blockchain is a technology that functions as a storage system or digital data bank connected via cryptography. Although first known through Bitcoin and other cryptocurrencies, this technology has broad potential for application in various sectors.

And if banks prioritize blockchain technology.

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The use of blockchain technology can reduce administration and transaction costs by eliminating the need for intermediaries, which can support Islamic banking's goal of minimizing transaction costs.

Conclusion: of blockchain technology.

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In short, blockchain is a technology that is the basis for developments in the field of currency in the form of crypto. Usually exemplified by the most popular forms such as bitcoin, ethereum, and other similar forms of crypto.

Point for you, blockchain is not a currency, blockchain is a system that functions and works as technology.

Likewise with Inflation and Finance, what is the relationship, it seems you have to first understand the meaning of Inflation and Finance.

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Inflation is a process of increasing prices in general and continuously, an increase in the price of one or two goods alone cannot be called inflation unless the increase extends to other goods.

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Finance is a term related to financial management, including financial resources, investment, and overall financial management.

Your topic is difficult to understand, you don't know what you are asking.

DeathAngel

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It’s out of control, it’s a tax on us every single year. If you don’t get a pay raise every year that at least equals annual inflation then it’s a cold hard fact that you are getting poorer every year. Governments & Central Banks don’t care one bit about us. We have to fend for ourselves out here, hence why we have all seeked out this forum

Cryptoprincess101

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Quote from: Oshosondy on April 16, 2024, 07:20:55 AM

Inflation is one of the cause of financial depression but it is just one of the cause. Also a country with good economy will have people with financial depression. Everybody can not be rich and you can not know what everyone on earth are going through emotionally.

Did you read about the happiest countries in the world and the most depressed countries in the world. UK is in number 2 of the most depressed country but the inflation in the UK is far less than some countries in the happiest country in the world.

Also know that bitcoin can not solve inflation, financial depression and depression generally. Not everyone can also afford bitcoin. Some people will buy it but not much in a way that can make them to be come very rich.

I like this actually, we should know that those that can't afford daily needs will always feel the impact of inflation so the goal should be on employment and bringing in projects that will remove people from abject poverty and long suffering only then can inflation be conquered because no matter the price of things, the rich will always afford it unlike the poor so eradicating poverty can be a step to reduce inflation.

The United Kingdom blossoms in their economy yet some still feels inflation due to the high cost of living and high taxation in the UK so we should be more concerned on things that will generate more income to us then we won't feel inflation that much again

On a normal note, no matter the price of Bitcoin, everyone cannot afford it, so there's no way everything will be fine with every body. In this society we live in, almost every thing goes in the favour of the rich and wealthy people amongst us but no matter the situation you find yourself keep striving for a better future that is why it is advisable to invest in Bitcoin now because it has a solid future.

Apocollapse

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In addition, 2020 should be included in global recession too.

First you need to clarify, it's a currency that use blockchain or Bitcoin?

If it's a currency that use blockchain, it doesn't mean there are no inflation. Blockchain is just a public ledger where people can see the balance, transactions, etc. If the currency is centralized and has unlimited supply, inflation still exist.

I disagree inflation is the main cause of financial depression, it's mainly due to low productivity or corruption.

KingsDen

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Quote from: SAHASAN on April 16, 2024, 06:38:08 AM

According to the IMF, the world has experienced four global recessions since World War II: 1975, 1982, 1991, and 2009.

Financial recession is caused by financial inflation
If the blockchain system was attached to the government created currency, then the global economy would never have seen a recession.
Maybe a day will come when every country will publicize the blockchain system as their official currency and the price of Bitcoin will skyrocket may be that time only satoshi will be 1$ or more .........

The power of the blockchain is no longer in doubt, both the government and individuals have known how powerful the blockchain is in connection to decentralization. It is because of this reason that the government have started developing their own coins that is pegged to their fiat and started running it on blockchain as you can see almost every country have their own CBDC. But then do we conclude that government likes decentralization, no! The government wants to use your data and sensor you, they want to detect what you can and what you cannot do. This is the reason the adoption of blockchain would be slowed, the government especially the corrupt ones will not want to run a government whereby their financial status will be in a place as public as a blockchain. With blockchain no government will manipulate their net worth, their security power and more. We will come to the state of blockchain globalization, but it might not happen any moment.

yudi09

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The application of the blockchain system to currency issued by the government only makes transactions easier due to management but cannot overcome inflation.
When the circulation of paper money increases, the value of the currency also decreases. Here Bitcoin cannot make things change for the better to save economic conditions.
Bitcoin for everyone in limited quantities. IMO, it's not because of the implementation of the blockchain system on fiat currency that makes Bitcoin expensive.

Oshosondy

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Inflation is one of the cause of financial depression but it is just one of the cause. Also a country with good economy will have people with financial depression. Everybody can not be rich and you can not know what everyone on earth are going through emotionally.

Did you read about the happiest countries in the world and the most depressed countries in the world. UK is in number 2 of the most depressed country but the inflation in the UK is far less than some countries in the happiest country in the world.

Also know that bitcoin can not solve inflation, financial depression and depression generally. Not everyone can also afford bitcoin. Some people will buy it but not much in a way that can make them to be come very rich.

kotajikikox

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Bitcoin can never help the inflation in a country as a whole however it can help each citizen to become more wealthier therefore pushing economic growth by increasing purchasing capacity. Bitcoin will be basically the pushing force for an economy to grow and prosper. I do hope too that someday I will benefit much more from bitcoin.

btc78

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Quote from: SAHASAN on April 16, 2024, 06:38:08 AM

If the blockchain system was attached to the government created currency, then the global economy would never have seen a recession.

It is possible that if fiat were backed up with a blockchain system then central banks would be able to promote higher economic activity and control the supply. Although I am sure a lot would still prefer the cryptocurrency.

Cryptocurrency are decentralized and have no any authority having control over it. Fiat having blockchain system will cause a disruption to both non-crypto and crypto enthusiasts. For this to happen, there should be a massive change up in terms of traditional finances which is something that is not easy to conduct.

SAHASAN

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According to the IMF, the world has experienced four global recessions since World War II: 1975, 1982, 1991, and 2009.

Financial recession is caused by financial inflation
If the blockchain system was attached to the government created currency, then the global economy would never have seen a recession.
Maybe a day will come when every country will publicize the blockchain system as their official currency and the price of Bitcoin will skyrocket may be that time only satoshi will be 1$ or more .........

Topic: Inflation is the main cause of financial depression - page 2. (Read 226 times)