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A comment on Jack Dorsey says ‘hyperinflation’ will happen soon in the U.S. and the world. Parent comment

Re:Jack Dorsey says ‘hyperinflation’ will happen soon in the... by asjfj9 on Sunday October 24, 2021 @05:40AM (#28976289)
No it doesn't. Hyperinflation means that although our BTC is worth more in USD, when we go to exchange our BTC for USD to go on that holiday, we'll need to give up more of our BTC since we need more USD to pay.

It would be much better if there is no hyperinflation. More and more people are moving parts of their money/assets into cryptocurrency. In the long run, holders like us will benefit. We all suffer when there's hyperinflation.

Disclaimer: My wife and I hold a significant amount of BTC in our child's trust fund.

[ Parent | on HN ]
Re:Jack Dorsey says ‘hyperinflation’ will happen soon in the... by voisin on Sunday October 24, 2021 @07:56AM (#28977097)
Isn’t the thinking that BTC would increase relative to the hyper inflating currency to compensate for the inflation? So you wouldn’t have to pay more BTC for that holiday?
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Re:Jack Dorsey says ‘hyperinflation’ will happen soon in the... by leereeves on Sunday October 24, 2021 @11:11AM (#28978639)
In the event of a serious economic crisis, the government would probably confiscate Bitcoin, like FDR confiscated gold during the Great Depression.

(I know they can't actually confiscate Bitcoin that isn't in an exchange, but they can make transacting in Bitcoin illegal after a certain date.)

[ Parent | on HN ]
Re:Jack Dorsey says ‘hyperinflation’ will happen soon in the... by smt88 on Sunday October 24, 2021 @02:22PM (#28980577)
Exactly right. As long as BTC needs to ramp off into fiat for most spending purposes, it can be banned.

Importantly, it can also be banned if centralized exchanges are powerful enough and do what the government says.

[ Parent | on HN ]