The only way the price of bitcoin doesn't initially plummet during hyper inflation is if we have built out a sufficient circular economy by then.
If hyper inflation hits and I need to sell my bitcoin for dollars to buy the essentials then the value of bitcoin will drop while people sell for fiat.
Not only does the price of bitcoin drop, but the value of the dollar is propped up because it's needed as a medium of exchange.
Building out the bitcoin circular economy is a an urgent goal if we want to reduce future pain.
HubrisHound / Hubris Hound
npub1xf…nzuv6
2023-08-16 20:39:48
Author Public Key
npub1xf528sste6vngy5whc8w9gjl3l5vm4u54ry84w7a9y0nnhkmvtfsfnzuv6Published at
2023-08-16 20:39:48Event JSON
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"content": "The only way the price of bitcoin doesn't initially plummet during hyper inflation is if we have built out a sufficient circular economy by then.\n\nIf hyper inflation hits and I need to sell my bitcoin for dollars to buy the essentials then the value of bitcoin will drop while people sell for fiat.\n\nNot only does the price of bitcoin drop, but the value of the dollar is propped up because it's needed as a medium of exchange.\n\nBuilding out the bitcoin circular economy is a an urgent goal if we want to reduce future pain.",
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