Friday, June 14, 2019
Venezuelan Hyperinflation Shows Benefits of Crypto
Article: Venezuela Issues 50,000 Bolivar Bill Amid Persistent Hyperinflation - Bitcoin.com
The total insanity of Venezuela's hyperinflation shows how a fiat, or national currency, can not only falter, but push towards losing all its value. Crypto proponents have pushed the very real argument that just because a currency is run by a government doesn't make that currency bulletproof. Today shows even more proof of that as Venezuela issues a massive 50,000 Bolivar note.
With inflation expected to hit 10,000,000% in 2019, this shows how crypto can be a MUCH MORE STABLE currency than something like the Bolivar. All of us proponents of crypto need to bring stories like this up.
And, remember as I talked about in previous story: The smallest unit of Bitcoin, one Satoshi, 0.00000001 BTC, is worth more than 1 unit of currencies from Iran, Vietnam and Indonesia. Something to think about.
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