alright... its time to give you a use case for crypto...
lets do bitcoin...
in hyper inflation.... the value of your dollar is worth, at best, less tomorrow than it was worth today...
so in a hyper inflation economy... you don't save... you try to spend your paycheck as fast as you get it...
why???? because the value of your dollar is going to be worth less tomorrow than today...
in short... you will have less buying power tomorrow than today...
one of the early cases of bitcoin was for remittances
the reason was that its pegged against the us dollar and it can be moved quickly between countries without any great special fees like those offered by western union...
so if you have relatives in a foreign country, you can send them money via bitcoin and they can trade the bitcoin for cash...
benefits are...
1. more of the cash gets there because its not eaten away in western union fees
2. bitcoin is pegged against the us dollar... and the foreign countries currency is pegged against the dollar... which means as the buying power of the foreign currency goes down... the buying power of the us dollar is going up... the bitcoin value is going up... which means you can buy more tommorrow than today with the bitcoin
thats the use case that many people in south america found for bitcoin...
Report: Use of Cryptocurrencies for Remittance Is Growing in Popularity | Featured Bitcoin News
Bookmarks