Why we want inflation for good value on BTC?

ZAINmalik75

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Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

So if the banks etc printing all fiat out of crazy numbers, then we should be in a guarantee of BTC going to over a million perhaps.
Does that mean we should be embracing the printing of money?

It will be not a good decision but I think if banks print dollar out of crazy number then difinitely Bitcoin will go over a million dollars, but at the same time the prices of goods which used in daily life will be raised to his high
because of the high circulating supply of fiat(dollar) in market.
so million dollar price of BTC will not worth for people because fiat due to higher supply alredy lose much value.
But any government will not allow such kind of activity because it will directly damage Thier economy too

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Quote from: Aikidoka on April 18, 2023, 11:10:14 AM

Exactly, it doesn't depend much on FIAT currency. The value of Bitcoin depends on the number of people who buy and support it over time. I'm confident that Bitcoin will gain significant value in the next few years if more people join the community and recognize the importance of using Bitcoin and how it can improve financial transactions in the future.
One day, we may not need banks anymore as long as we have Bitcoin and other cryptocurrencies to send and receive money anytime and from anywhere on earth.

Agreed with you on this point that it doesn't depends on fiat that how much it inflated or not . The main fact is there is no connection with the fait currencies inflation rates for the good value for bitcoin. It completely depends on people like us.
The total supplies for bitcoin is 21Million and day by day the uses of it increasing and the more people will involved with it I think the more demand will increase so in the end the price also have to increase. So if we look like this way I don't think we have connected the inflation with the value of Bitcoin

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Quote from: jostorres on April 17, 2023, 10:55:09 PM

What do you mean by one BTC will remain one BTC even if the demand decreases? Are you not aware of the supply and demand rule and how it works? The price of Bitcoin or any commodity or thing increases if that commodity or thing gets a higher demand if it has a limited supply, and the same thing happens in the opposite way if the demand drops.

The interest rising or falling may don't have any effect on the network and it will obviously continue to work stably, but that does affect the market in general, in terms of monetary value. Bitcoin and any other cryptocurrency with a limited supply need higher demand to have a further increase in its price.

Bitcoin was meant to be used as an alternative to Fiat in the first place. Not as something you can hoard for profit. Theoretically, 1 BTC will always be equal to 1 BTC no matter what. The problem is that people are measuring BTC's value in Fiat terms. If they did use BTC regardless of market prices, things would be a lot different now.

I'm waiting for the day when the world ditches the "Fiat Standard" in favor of the "Bitcoin Standard". Once that happens, BTC will be used as the main unit of account (meaning everything will be valued in BTC terms, not Fiat). Why would I care about Fiat inflation, especially when it's doomed to failure? We should focus more on filling our bags with Bitcoin, as it's sound money that can't be controlled or debased by anyone. Supply is fixed to 21m units, so there's nothing to worry about. Who knows how far BTC will go in terms of mainstream adoption? Just my thoughts Grin

YUriy1991

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I think it's related to the relationship between inflation and the value of BTC. This is a complex topic that requires a nuanced understanding of the economic principles and cryptocurrency market, why it is. First, it is important to see that inflation refers to an increase in the money supply in circulation, which results in a decrease in the purchasing power of money. Conversely, deflation is a decrease in the supply of money in circulation, which causes an increase in the purchasing power of money.

Well, if you look at it from a BTC perspective, it is true that the value of BTC tends to increase when there is inflation in the economy. This is because BTC is a decentralized cryptocurrency that is not subject to the same inflationary pressures as fiat currency, which is controlled by a central bank. As a result, investors often view BTC as a hedge against inflation.

However, it would be inaccurate to say that we should embrace printing money to increase the value of BTC. Inflation can have a negative impact on the economy, such as reducing consumer purchasing power and creating uncertainty in financial markets. Therefore, it is generally discouraged to chase inflation as a means of increasing the value of BTC.

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Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

With the printing of fiat money that is always in constant motion by the powers that be.
As the fiat money devalues in value. The value of BTC and other cryptos goes up.
So if the banks etc printing all fiat out of crazy numbers, then we should be in a guarantee of BTC going to over a million perhaps.

Does that mean we should be embracing the printing of money?

Make all our money go totally out of value, so anyone holding BTC can get good value?

Does this make sense?

Printing money is always a big problem in a lot of countries, Inflation cannot be stopped and for me, bitcoin is one of the ways to salvage your money from inflation. It's obviously wrong that the government is printing money, but it's already how it works so we can't really do anything about that.

Looking at the Bitcoin structure it supposes to be rare in the future, I think Bitcoin is the best investment that we could make to avoid inflation. Accumulating more Bitcoin is the best thing to do because the market prices could skyrocket at any moment.

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does it make sense to hope that there will be inflation so that the BTC price will go up?
as much as possible no b because even when you have a ton of USD, let's say $1M per BTC, the purchasing value of the $1M will also be weaker. it couldn't be that hard to figure but people will not look at it that way though. i can understand though that you will like to have $1M regardless of its purchasing power.

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Quote from: Hyphen(-) on April 16, 2023, 03:04:31 PM

I don't think BTC has to wait for the FIAT value to fall before going up as you expect; we can't go without Fiat because we need it for local exchanges of goods and services,

Exactly, it doesn't depend much on FIAT currency. The value of Bitcoin depends on the number of people who buy and support it over time. I'm confident that Bitcoin will gain significant value in the next few years if more people join the community and recognize the importance of using Bitcoin and how it can improve financial transactions in the future.
One day, we may not need banks anymore as long as we have Bitcoin and other cryptocurrencies to send and receive money anytime and from anywhere on earth.

Quote from: Hyphen(-) on April 16, 2023, 03:04:31 PM

not everyone knows about Bitcoin and blockchain technology, especially in rural areas.

That's why we need to promote it and make people that lives in such rural areas or in 3rd world countries knows much about it and get into this community.

Dickiy

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Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

With the printing of fiat money that is always in constant motion by the powers that be.
As the fiat money devalues in value. The value of BTC and other cryptos goes up.
So if the banks etc printing all fiat out of crazy numbers, then we should be in a guarantee of BTC going to over a million perhaps.

Does that mean we should be embracing the printing of money?

Make all our money go totally out of value, so anyone holding BTC can get good value?

Does this make sense?

I'm very doubtful about that thought, basically when FIAT does too much printing it will increase the price of goods because there is more money in circulation than goods so maybe your thinking is that bitcoin is an item that will increase in price if money circulates in society because there will be demand for it. bitcoin, but it's not that easy to relate to this, in my opinion, there are too many bad effects if too much money is printed, which will directly attack financial stability and also affect monetary policy which changes like what Thefed has done to this day.

suzanne5223

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Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

With the printing of fiat money that is always in constant motion by the powers that be.
As the fiat money devalues in value. The value of BTC and other cryptos goes up.
So if the banks etc printing all fiat out of crazy numbers, then we should be in a guarantee of BTC going to over a million perhaps.

The Banks are the ones in charge of printing new fiat currency and the devaluation of fiat currency is not the major reason that triggers the surge in the price of BTC. Remember, Satoshi has already led the framework of block halving to prevent inflation and encourage an increase in demand.

Does that mean we should be embracing the printing of money?
Make all our money go totally out of value, so anyone holding BTC can get good value?

Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

Does this make sense?

You can embrace the idea by investing in assets than holding fiat currency since holding fiat is never a good idea in the first place.

Ucy

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Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

With the printing of fiat money that is always in constant motion by the powers that be.
As the fiat money devalues in value. The value of BTC and other cryptos goes up.
So if the banks etc printing all fiat out of crazy numbers, then we should be in a guarantee of BTC going to over a million perhaps.

Does that mean we should be embracing the printing of money?

Make all our money go totally out of value, so anyone holding BTC can get good value?

Does this make sense?

That depends on whether Bitcoin remains strong then, as fiat weakens. So it's better to focus more on things that keep it stronger and better rather than hoping that it effortlessly benefits from weakening fiat.

By the way, everyone getting lots of money printed out of thin air to buy bitcoins could consequently collapse & devalue the price as it becomes common and easy to get.... price will quickly collapse back to where it deserves to be as most people already have too much they don't know what to do with..thereby selling them at lower price till it returns to its actual value.
What you need to do to drive the price up is to create real demand or by encouraging things that create real demand. That's part of the reason we (the Bitcoin Master) don't just move things up without first making it valuable. If people forget how truely valuable and useful Bitcoin is just shine your light and they will value it. Merely thinking about it could do, depending on your power and ability.

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Quote from: Abiky on April 16, 2023, 02:40:06 PM

Inflation is good because it helps scarce commodities like Bitcoin and Gold to rise in value over time. But it's bad for those who only depend on Fiat to survive. What costs you $10 now, might cost you $20 in the future due to inflation. Things valued in BTC, get cheaper in crypto terms but not in Fiat terms. You may think you're getting higher purchasing power over time, but that's not really the case.

Although it's tempting to cheer up for inflation to continue rising on this case, so our assets get more valuable, I don't think it's right to endorse the chaos in order to profit from it. It may be possible to profit from Bitcoin the more inflation increases, but on the other hand, there are many cons which will impact you sooner or later. They are: increased criminality rates due to poverty, shortage of basic products disponible for sale, unemployment and the total bankruptcy of the state.

It's better that Bitcoin keeps climbing up in smoother steps, without inflation striking too hard.

Who is John Galt?

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Quote from: jostorres on April 17, 2023, 10:55:09 PM

What do you mean by one BTC will remain one BTC even if the demand decreases? Are you not aware of the supply and demand rule and how it works? The price of Bitcoin or any commodity or thing increases if that commodity or thing gets a higher demand if it has a limited supply, and the same thing happens in the opposite way if the demand drops.

The interest rising or falling may don't have any effect on the network and it will obviously continue to work stably, but that does affect the market in general, in terms of monetary value. Bitcoin and any other cryptocurrency with a limited supply need higher demand to have a further increase in its price.

Suppose the demand for dollars decreases, how many dollars will one dollar cost then? Five dollars? Ten? One hundred? As long as you count everything in dollars, there is a price for this in dollars, but the dollar itself cannot change relative to itself. By changing the paradigm, and starting to look at the world through bitcoins, and not through dollars, in the same way we have a situation where 1 bitcoin remains one bitcoin forever. It doesn't matter whether demand is rising or falling at any given moment. Unlike the dollar, the number of bitcoins will not increase or decrease from this.

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Quote from: Who is John Galt? on April 16, 2023, 06:08:06 AM

Quote from: Zaguru12 on April 15, 2023, 04:11:48 PM

which could result into low demand of bitcoin

What difference does it make if the demand for bitcoin rises or falls? One BTC will remain one BTC. Of course, we all know the theory that money is a kind of commodity, but bitcoin itself is designed in such a way that when interest rises and falls, the level of complexity simply changes, and the network itself continues to work stably, so it’s not scary if the demand for bitcoin decreases.

What do you mean by one BTC will remain one BTC even if the demand decreases? Are you not aware of the supply and demand rule and how it works? The price of Bitcoin or any commodity or thing increases if that commodity or thing gets a higher demand if it has a limited supply, and the same thing happens in the opposite way if the demand drops.

The interest rising or falling may don't have any effect on the network and it will obviously continue to work stably, but that does affect the market in general, in terms of monetary value. Bitcoin and any other cryptocurrency with a limited supply need higher demand to have a further increase in its price.

Hyphen(-)

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I don't think BTC has to wait for the FIAT value to fall before going up as you expect; we can't go without Fiat because we need it for local exchanges of goods and services, and not everyone knows about Bitcoin and blockchain technology, especially in rural areas.

Abiky

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Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

With the printing of fiat money that is always in constant motion by the powers that be.
As the fiat money devalues in value. The value of BTC and other cryptos goes up.
So if the banks etc printing all fiat out of crazy numbers, then we should be in a guarantee of BTC going to over a million perhaps.

Does that mean we should be embracing the printing of money?

Make all our money go totally out of value, so anyone holding BTC can get good value?

Does this make sense?

Inflation is good because it helps scarce commodities like Bitcoin and Gold to rise in value over time. But it's bad for those who only depend on Fiat to survive. What costs you $10 now, might cost you $20 in the future due to inflation. Things valued in BTC, get cheaper in crypto terms but not in Fiat terms. You may think you're getting higher purchasing power over time, but that's not really the case.

It's best to focus on accumulating more BTC over time, instead of simply "hodling" coins until they're worth more in Fiat terms. We can't stop banks from printing more money in the long run, so it's best to be prepared for the worst just in case. Just my opinion

death69

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Gosh

Behold our financial prankster extraordinaire! Your audacious take on the global economy is fascinating, but let's not go off the rails here, okay? True, fiat money devaluation could boost cryptocurrencies like Bitcoin, but that's hardly a lasting fix. It might benefit us BTC holders, but what about the wider societal repercussions?

As alluring as it is to witness chaos, we can concur that a stable, flourishing economy benefits everyone. So, while we exploit market trends and invest wisely, remember that a robust economy serves us all. But hey, I'm just a humble nerd. Go ahead and gamble if you wish, but don't come sobbing when the world economy crumbles and we barter beans for a smidgen of BTC.

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Quote from: WeThePe0ple on April 16, 2023, 08:51:52 AM

Quote from: pooya87 on April 15, 2023, 02:05:13 AM

The main reason for big rises will always be more adoption.

So when governments succeed in taking down the exchanges, nobody can buy BTC and adoption goes to 0.
I expect that this will happen when they have their CBDC's ready and they are terrified of any competition like BTC.

Is there any way to increase BTC adoption when the exchanges are all stopped by government?

There are about 200 countries in the world and no 2 governments see eye to eye on any subject. It is not possible for all of them to suddenly decide to take down all exchanges globally! Not to mention that each time a government does this, it is an excellent business opportunity for everyone else because all the money from that country that went into those exchanges would go abroad.

Additionally you don't have to use an exchange to acquire bitcoin. Bitcoin is a currency and like any other currency you can and should earn it.

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This is the main reason why I never invested at 200 bucks.

Good for those who did then Wink

yhiaali3

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It is not as if we are encouraging inflation and printing more money so that the value of Bitcoin increases. We do not do that, but rather governments. This is a bad reality that really exists and we are looking for a better alternative. The alternative is Bitcoin, but it is not yet ready to replace the old system.

The old financial system destroys itself by printing more money, but we don't like it and we shouldn't encourage it until Bitcoin can fill the void.

Printing more money really makes people's lives difficult so we shouldn't encourage it.

panganib999

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A coin's value doesn't change just because its competitor decreased in value, as in the cass with bitcoin and the dollar. To some tuis may soind stupid, but let me give uou an analogy to paint a better picture of why I think it's not what you think.

Suppose you guys are selling mangoes, you sell for two different countries, and one of them dropped significantly in value, from let's say 2 coins of that country to 4 coins per mango.m, while country b rerains its value.

In rhis analogy, bitcoin is country B's coin, and the Mango is the reference point. Sure mangoes in country A may have been more expensive, but since in country b it's still the same, the depreciation of country A's coin didn't equate to a better economy boost for country B.

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Quote from: pooya87 on April 15, 2023, 02:05:13 AM

The main reason for big rises will always be more adoption.

So when governments succeed in taking down the exchanges, nobody can buy BTC and adoption goes to 0.
I expect that this will happen when they have their CBDC's ready and they are terrified of any competition like BTC.

Is there any way to increase BTC adoption when the exchanges are all stopped by government?

This is the main reason why I never invested at 200 bucks.

Pandu Geddon

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I don't think inflation will have an impact on the Bitcoin price increase. inflation may occur when the Bank will print more Fiat to be circulated. whereas when no adoption happens to Bitcoin, it will have no impact on the price of Bitcoin.
Except when there is a Bank bankruptcy, with a country's Fiat value continuing to decrease. and hope that the government sees Bitcoin as a digital currency that will be the solution. not expect foreign debt. it could grow Bitcoin adoption and also be great news for the Bitcoin market. it could affect the price of Bitcoin.

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It doesn't work like that, if the banks start to print fiat and it will increase inflation, but the citizens don't care about inflation and choose to save their money in banks, it will not make Bitcoin price increase because they're not contribute anything to Bitcoin's demand. The most important thing many people need to buy Bitcoin, that's will make Bitcoin price increase due to high demand regardless the inflation is high or low.

Who is John Galt?

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Quote from: Zaguru12 on April 15, 2023, 04:11:48 PM

which could result into low demand of bitcoin

What difference does it make if the demand for bitcoin rises or falls? One BTC will remain one BTC. Of course, we all know the theory that money is a kind of commodity, but bitcoin itself is designed in such a way that when interest rises and falls, the level of complexity simply changes, and the network itself continues to work stably, so it’s not scary if the demand for bitcoin decreases.

Zaguru12

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Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

Does that mean we should be embracing the printing of money?

Make all our money go totally out of value, so anyone holding BTC can get good value?

Does this make sense?

No it doesn’t make much of a sense if there is an excess printing of the fiat money then it could causes its devaluation which in return would at first causes many to move towards bitcoin for hedge against the devaluation. But as it continues it causes more money supply which results into inflation. Although bitcoin hedges also against inflation but and a prolonged inflation will cause high of goods and services which could result into low demand of bitcoin. Also many could turn to there holdings for emergency.

The Cryptovator

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There is no anticipation of inflation, and creating more fiat currency does not necessarily result in an increase in the value of Bitcoin. It's important to comprehend how the price of Bitcoin operates. As buying pressure intensifies, the price is expected to rise. In the event of global inflation, there may be fewer buyers. When money circulation is low, banks print more fiat currency, which does not lead to a rise in Bitcoin price.

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Bitcoin fiat value increasing due to the printing of lots of money is not different to Bitcoin fiat value being stagnant. Yes Bitcoin fiat value maybe higher when the value of fiat currency devaluate. It also means that there is no change of the purchasing power of Bitcoin since the fiat price value increase is due to the said inflation. So I can say that Bitcoin price increase due to printing of money is does not increase the value or purchasing power of Bitcoin and only increase the amount of fiat needed to convert Bitcoin to fiat currency.

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If cash becomes useless, then this means that there will be a war, and therefore no one wants that, but all that is required is that you have enough money to live your life and then, if one bitcoin is worth 10 million dollars, then the value of the dollar will not buy you gum.

Thus hyperinflation is not beneficial but bad for all.

Aikidoka

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To be honest, I don't think that would make a huge difference. Bitcoin's price is influenced by the number of people buying and using it globally, and it can also be controlled by whales with massive amounts of money. Printing more fiat currency might help Bitcoin gain more value in the future, but ultimately, people must use and buy it and continue supporting it to achieve incredible goals in the near and long term.

El Salvador was the first country to adopt Bitcoin as an official currency, but if more countries support it in the future, we could see a significant increase in its value.

doomloop

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Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

With the printing of fiat money that is always in constant motion by the powers that be.
As the fiat money devalues in value. The value of BTC and other cryptos goes up.
So if the banks etc printing all fiat out of crazy numbers, then we should be in a guarantee of BTC going to over a million perhaps.

Does that mean we should be embracing the printing of money?

Make all our money go totally out of value, so anyone holding BTC can get good value?

We don't want inflation so that the price of Bitcoin or cryptocurrencies increases, but we say that when there is inflation, Bitcoin might save your money from getting devalued if they are invested in Bitcoin, and these are two different things. Inflation in general doesn't only affect cryptocurrencies but it also affects the lives of the people living in that economy.

When there is inflation, what you earn is barely enough for you to survive unless you are from the elite category that floats above it but those who are from the lower category will suffer from the high rates of goods and stuff that we buy for daily use.

kryptqnick

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What you're saying is how it should be but now how it always is. It would make sense for Bitcoin to grow when fiat is hit hard by inflation because we'd expect people to realize that their money is losing value and switch to something that can allow to rescue that value and maybe even make profit. However, when the news of high inflation of top fiat currencies spread at the end of last year, the panic spread onto Bitcoin and it wasn't doing well at all. Likewise, when inflation rate stabilized and people gained more confidence in the economy, Bitcoin started going up. I think that's because people largely see Bitcoin as an investment and feel comfortable investing when the economy is doing well. If they saw it as a safe haven, a way to save wealth, then Bitcoin would go up when inflation is high IMO.

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Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

Make all our money go totally out of value, so anyone holding BTC can get good value?

Does this make sense?

Have you ever thought that due to inflation, bitcoin will only preserve the purchasing power of folded money, but will not make you truly rich? If we get a big rise in inflation and you buy bitcoin now at 30k, and for example, in a year bitcoin will cost 300k, but with these 300k you can buy the same thing that you can buy today for 30k, will you consider yourself rich man? Bitcoin is able to keep your funds from inflation, which is already good in our time.

Frankolala

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I understand your point OP,but let's look at it from this corner. We need fiat currency for our daily spending, inflation causes the hike in price of commodity. High cost of commodity will affect you, if your income is stagnant. Therefore, it will affect your financial stability due to the depreciation of fiat currency.

Also in bitcoin too,it takes somedays before bitcoin price pumps or dumps. If you have 1btc today and you want to buy a house for $30000,and something came up,maybe you have a health challenge which makes you not to purchase the house. After a month due to inflation the price of the house increased to $31k and you bitcoin price is still at $30k,don't you see that inflation have affected the cost of the house. Bitcoin is a good store of value in the long run and also remember that we can't keep on spending the bitcoin that we have everyday,if not it isn't tackling any inflation problems. It is when you hold for long that you can use bitcoin to overcome inflation.

What happens to your bitcoin when bitcoin is in the bear market,will it be able to tackle inflation ? No,nobody like inflation because it does great harm to the economy and to human financial spending. Only mass adoption of bitcoin will pump bitcoin price

Who is John Galt?

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Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

Does that mean we should be embracing the printing of money?

Make all our money go totally out of value, so anyone holding BTC can get good value?

Does this make sense?

That's not the point. The deflationary nature of bitcoin will work whether other currencies depreciate or not. What difference does it make if a bitcoin is worth one dollar or a million dollars, if at some current moment a bottle of beer will cost that million dollars? What matters is not the number of zeros in the fiat currency to bitcoin exchange rate, but how many real goods and services you can buy with bitcoin.

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Quote from: Captain Corporate on April 14, 2023, 07:11:38 PM

Definitely not, I agree with others. I mean if you keep wanting dollar (or any other fiat) go out of this world, that means you would be living a terrible life paying so much. Take it from someone who had %200 unofficial and at some point %100 or so official I think? Inflation in his nation, that's not something bitcoin can cover. First of all you would need ALL fiats to do that, just one or two would make those nations economically in trouble, secondly bitcoin is not accepted everywhere yet, so if you spend it, you can't get it back, once you invested and profited, that's it and you can't anymore. Whereas the trouble will continue to go on and you would not be making any profit at all while in trouble.

Therefore, you do not need to sell all bitcoin, if bitcoin is a long-term investment, then over time you will accumulate it and when it grows it will be a good amount that you do not need to spend right away. Use some small part of it for life, and let the rest of the investment continue to be in hold, just this will protect your money from inflation. We dn't know what will happen in the future, but we hope that the adoption will allow us to gain an advantage.

Obito

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Isn't printing money sanctioned and always restricted by the government and can only be done when there's a dire need? Iirc, regular money printing is only done to replace destroyed currency? Which happens a lot of times.

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Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

As the fiat money devalues in value. The value of BTC and other cryptos goes up.

The value remains the same, the price would go up and I'd argue that altcoins' price is not going to go up because of inflation since they work based on pump and dumps and most of them are only traded against bitcoin not even against fiat to be affected by fiat value.

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So if the banks etc printing all fiat out of crazy numbers, then we should be in a guarantee of BTC going to over a million perhaps.

No it is not a guarantee. The main reason for big rises will always be more adoption.
Inflation will both directly and indirectly affect the price. Directly in the sense mentioned above (devaluation of fiat) and indirectly by pushing more people toward making an investment in bitcoin that doesn't suffer from the same flaws as fiat does.

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Does that mean we should be embracing the printing of money?

No! Non-stop money printing ruins the economy of the country. Look at US.

Patrol69

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As a result of inflation, the economic system of a country is seriously damaged. In all countries where inflation occurs, the prices of essential goods increase significantly. Many countries are already bankrupt due to inflation.
However, by inflation we mean the decrease in the value of one's own currency and the increase in the value of the dollar. What is the relationship between inflation and the increase in the value of Bitcoin?

Which country's inflation can you blame on the international currency. Because the value of money in those countries has decreased due to the increase in the value of the internationally accepted currency.

If bitcoin was a globally accepted international currency, you could blame bitcoin for the devaluation of paper money to increase the value of bitcoin. So I think Bitcoin price rise can never be responsible for inflation in any country.

MusaMohamed

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Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

With the printing of fiat money that is always in constant motion by the powers that be.
As the fiat money devalues in value. The value of BTC and other cryptos goes up.
So if the banks etc printing all fiat out of crazy numbers, then we should be in a guarantee of BTC going to over a million perhaps.

Governments don't ask for our acceptances to print more fiat currencies. They do it from their own decisions that match with their policies, strategies for their own benefits. We can not stop governments and central banks on this so we have to accept this fact and live in a world of inflation.

Of course inflation of fiat currencies and their decreasing purchasing power can force people to find better alternatives. One of the best alternatives for people to consider is Bitcoin with only 21M bitcoins in total supply. No miners can create more than 21M bitcoins after 2140 and this fact is interesting and attractive for investors who are tired and scared of fiat inflation.

However we don't need to see something like a bomb of inflation from fiat currencies globally. It won't be good for Bitcoin and our lives when a whole world is in economic apocalypse.

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Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

Does that mean we should be embracing the printing of money?

As you have been told, printing is not necessarily good, especially if it is excessive.

The rise in the price of bitcoin, which is generally measured by the USD pair, has two components. The first is the rise in demand, because people realise the value of bitcoin and want to buy it. Given the limited supply of bitcoin, the price rises. Secondly, there is the devaluation of the dollar, which is of less interest to us. Because of the first factor, you are able to buy more and more things with the same amount of bitcoin, but not because of the second.

Gallar

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Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

With the printing of fiat money that is always in constant motion by the powers that be.
As the fiat money devalues in value. The value of BTC and other cryptos goes up.
So if the banks etc printing all fiat out of crazy numbers, then we should be in a guarantee of BTC going to over a million perhaps.

I think doing this is very inappropriate, it will not be easy to overthrow fiat money, because fiat money is under the responsibility of their respective countries, each country will definitely maintain the fiat money that applies in their country, so that it does not fall and continues to stand firmly.
I am also a pro for bitcoin, but if I have to arrive
Toppling fiat money in favor of rising bitcoin prices, it feels like unkind and too extreme. Because even though fiat money drops very drastically downwards, then inflation occurs, is it possible that our lives will be more comfortable? I do not think so.

And actually there is no need to bother deliberately to roll over fiat money, for the sake of rising bitcoin prices, let alone until inflation occurs, things like this are not needed. Because I have confidence in bitcoin, even though I don't use the method described above, I believe bitcoin will continue to experience growth and development. As it is clear, bitcoin will definitely continue to be popular going forward, and lead to a new economic heyday.

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Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

As the fiat money devalues in value. The value of BTC and other cryptos goes up.

True, many people always compare Bitcoin with fiat which I think it's useless where the meaning is the same as inflation itself. We refuse the bank to print fiat, but we always compare Bitcoin with what they print, it is just the same thing with agree. because of that thing, bitcoin is always affected by inflation, If we want to reduce it, from today we must not compare it again with fiat, so 1 BTC = 1 BTC, and done, no more inflation we have to talk.

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Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

With the printing of fiat money that is always in constant motion by the powers that be.
As the fiat money devalues in value. The value of BTC and other cryptos goes up.
So if the banks etc printing all fiat out of crazy numbers, then we should be in a guarantee of BTC going to over a million perhaps.

Does that mean we should be embracing the printing of money?

Make all our money go totally out of value, so anyone holding BTC can get good value?

Does this make sense?

The price of bitcoin depends on many factors, the fact that banks print money is just one of many reasons why the price of bitcoin increases. Most commodities and assets appreciate in price due to high demand. If the government prints a lot of money but demand for bitcoin doesn't increase, it won't increase in price either.

Captain Corporate

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Definitely not, I agree with others. I mean if you keep wanting dollar (or any other fiat) go out of this world, that means you would be living a terrible life paying so much. Take it from someone who had %200 unofficial and at some point %100 or so official I think? Inflation in his nation, that's not something bitcoin can cover. First of all you would need ALL fiats to do that, just one or two would make those nations economically in trouble, secondly bitcoin is not accepted everywhere yet, so if you spend it, you can't get it back, once you invested and profited, that's it and you can't anymore. Whereas the trouble will continue to go on and you would not be making any profit at all while in trouble.

blockman

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That's the logic that I've to understand when I've read someone's point to be the same as yours. That's just one way for Bitcoin to reach another high but we won't be dependent on the high inflation that will be made from USD or any other fiat because that's essential that inflation will be there. And the common growth for Bitcoin has always been natural and that's just one of the factors that are being considered. I even read someone predicts about bitcoin $10M because of high inflation and devaluation of dollar but then, don't be too overhyped with those as you'll never know what's with up with global economy. Just as bitcoin, they're all unpredictable.

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Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

Does this make sense?

That argument does not hold water. Inflation caused by excessive money printing diminishes the value of earned income, resulting in a reduction of purchasing power. As the prices of goods and services increase, people are forced to spend more of their income on basic necessities, leaving them with less disposable income to invest. In this context, advocating for the printing of money to benefit Bitcoin fails to account for the negative effects of inflation on people's lives and investments.

lionheart78

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Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

Does that mean we should be embracing the printing of money?

No, it might look good in increasing the fiat value of Bitcoin but inflation does not do good on the economy of a country. Yes, Bitcoin fiat valuation will increase and so the price of commodoties too. I would rather have good economic situation and having the Bitcoin value increase slowly than a devastated economy with high BTC price.

Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

Make all our money go totally out of value, so anyone holding BTC can get good value?

With money going out of value, prices of commodity is also affected. Those who have stash of Bitcoin maybe sitting pretty well but those who are not involved or just beginning to get involved with Bitcoin will have difficulty.

Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

Does this make sense?

No, I prefer a healthy economy with an average Bitcoin price than a devastated one with extreme Bitcoin price.

WeThePe0ple

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Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

With the printing of fiat money that is always in constant motion by the powers that be.
As the fiat money devalues in value. The value of BTC and other cryptos goes up.
So if the banks etc printing all fiat out of crazy numbers, then we should be in a guarantee of BTC going to over a million perhaps.

Does that mean we should be embracing the printing of money?

Make all our money go totally out of value, so anyone holding BTC can get good value?

Does this make sense?

If this is true, purchasing BTC only protects your savings from being evaporated through inflation.
However purchasing BTC does not allow you to gain a salary (and thus prosperity) that is adjusted to the inflation.

I see BTC as a hedge against the confiscation of wealth (fiat currency) that you hold at this point. But BTC can not prevent people from getting paid in debased currencies.

Aanuoluwatofunmi

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Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

Does that mean we should be embracing the printing of money?

Why comparing bitcoin with inflation or printing of money, we can join them together becau they exist differently, one of the assurance in bitcoin is that it does not undergo inflation because it's a decentralized currency, another thing is that we need to understand the printing of money without limit whereby with time to time, there will always be a continuous print of new notes, if you chose bitcoin, you wouldn't want to go back again to fiat.

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Inflation is good if it happens in a controlled level. Anything too much is bad, and we have seen it in the case of several countries battling severe bouts of hyperinflation. By wanting to get too much inflation, we also disregard a lot of other things: prices of goods, wages that aren't really moving towards the benefit of the working class, etc. Sure, you get more USD through bitcoin and crypto, but what about the others around you? Even without inflation, bitcoin and crypto seem to be doing good in terms of price appreciation and overall valuation. I don't think we need to wish ill will to fiat currencies in order to get some good gains on our bags. In the end, it will screw us over and those bags of ours will also be worthless if fiat is worthless.

Inflation has always been a double-edged sword. While the right amount may signify progress and better economic conditions, asking for too much is like asking to burn the value of money right in front of us even if it means getting more in bitcoin and crypto.

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While I understand your point, inflation causes our daily expenses to skyrocket, so even if we suppose that Bitcoin's value rises due to the increasing inflation, it's actually quite pointless because the fiat money that you'd be exchanging your Bitcoin with has actually a smaller purchasing power. In the end, at some point, the majority of us will exchange our crypto for fiat, so it's not like we won't be affected at all.

I'd also find it immoral to praise an increase in inflation just to gain profit from cryptocurrencies when the average household is struggling to make ends meet, but that's a story for another day. It wouldn't be us to blame, but I bet you understand where I'm coming from.

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pick a dozen random daily living goods/services. and compare bitcoin to how many goods/services can buy

what people want is to be able to buy more goods/services the more they wait/hoard. its got nothing to do with $ price, which loses value(number of goods bought)

so compare it to for instance the "bread loaf" value.
how many loaves could you buy now compared to 2020 compared to 2017 compared to 2014

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it is not necessarily a good thing for the overall economy. The printing of excessive amounts of fiat money can lead to inflation, which can cause prices to rise, making it more difficult for people to afford basic necessities.

while the devaluation of fiat currencies can have a positive impact on the value of cryptocurrencies, it is not a sustainable or ethical strategy to intentionally devalue fiat currencies in order to drive up the value of Bitcoin.

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Quote from: worldtraveller321 on April 14, 2023, 04:04:03 PM

With the printing of fiat money that is always in constant motion by the powers that be.
As the fiat money devalues in value. The value of BTC and other cryptos goes up.
So if the banks etc printing all fiat out of crazy numbers, then we should be in a guarantee of BTC going to over a million perhaps.

Does that mean we should be embracing the printing of money?

Make all our money go totally out of value, so anyone holding BTC can get good value?

Does this make sense?

OP, we should not embrace the fact that our local currencies are devaluing because I don't think it makes anyone happy. The fact that the purchasing power of money is heavily depreciating doesn't make anyone feel better, and it's not even a good thing for the economy. The high rate of printed cash has a big disadvantage in society; for example, an average citizen of a country that is greatly inflated cannot solve all of their budget with their monthly salary, which in turn has a negative impact on their lifestyle.

It doesn't mean that Bitcoin's value and price will not go high if the rate of dollars printed is reduced. Do not forget that there are various factors that drive the price of bitcoin, such as high demand.

Ojima-ojo

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Ops note that when money loses its value the rate of inflation increases so is the price of goods and services and that will cycle down to your Bitcoin value not having any real-world value since you need to exchange your Bitcoin for goods and services or convert it to fiat before it is used.

So ultimately let us work for a good economic system that allows value for money through the lowering of the inflation rate and increasing the purchasing power of the people to allow economic growth.

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Not really. Sure, you now hold Bitcoin and you are some what secured against inflation and the quick depreciation in Fiat value. But. Now all your expenses increase. Volatility in the Markets increases too. Prices for every thing do too. Every thing increases and what you now own is a volatile asset.

Do not get me wrong. I love Bitcoin and I do think it is a particularly great asset to hold on to while inflation happens. But being volatile, it does not make a great asset to use as the only string to rely on when the economy is going really bad. You need multiple strings. Bitcoin itself will do an amazing job at making you not feel inflation but not all the time.

Bitcoin is here particularly due to what printing of money does to the economy. It is particularly here to offer an alternative and a shelter against such unfortunate events. We should not embrace the printing of money. It destroys lives of people and families. It destroys economies. It makes the whole system cripple only to drop down the middle class to the lower and make the top of the pyramid be stronger than ever. We should embrace the use of Bitcoin and help others get out of the very muddy Fiat system and move on to Bitcoin instead.

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With the printing of fiat money that is always in constant motion by the powers that be.
As the fiat money devalues in value. The value of BTC and other cryptos goes up.
So if the banks etc printing all fiat out of crazy numbers, then we should be in a guarantee of BTC going to over a million perhaps.

Does that mean we should be embracing the printing of money?

Make all our money go totally out of value, so anyone holding BTC can get good value?

Does this make sense?

Topic: Why we want inflation for good value on BTC? (Read 322 times)