People underestimate the possibility of hyperinflation in the US and overestimate the chaos it would cause.
Discussion
Really? Maybe I run with the pessimistic crowd, but everybody I know seems pretty sure we are living in the end times.
Some would say there already is hyperinflation if you want to buy stocks, real estate, college tuition, and art.
Agree
I want #Bitcoin to succeed and be the next global reserve money, but the carnage an abrupt hyperinflation of the dollar would bring is terrifying in a world armed to the teeth with nuclear weapons. I don’t think people truly understand what they’re hoping for.
all countries that have hyperinflation didn't vanish but now more stronger that before in some cases BUT SAVED WEALTH in fiat during phase of hyper in those countries OVERNIGHT became zero. Chaos will be less - Fiat value will be gone
Mandibles
As someone that experienced hyper inflation, I agree. It’s true that for many people the loss of wealth and purchasing power was drastic, but the world didn’t end and people still went to work and got on with their lives. Those lucky enough to have access to the dollar didn’t skip a bit and if anything became better off. Sats are much more accessible so people will be able to get off the sinking ship that is fiat fairly easily if and when the dollar hyper inflates.
mandibles.
An overistimation of the chaos it would cause is barely possible. Look at how hyperinflation wrecks havoc in smaller economies as we speak, and multiply that with infinity. People will find out that you can’t eat Bitcoin either.
Some people almost seem to want to have hyperinflation in the US. Their incentives are aligned via Bitcoin. I think there will be a moment of regret if this happens. Betting for human poverty & social suffering won’t sit easy even for the most hardcore bitcoiner.