Overcoming inflation with cryptocurrencies

[jeronimosuykens]

Crypto-currencies not only stop inflation, they also produce deflation. Money starts to fulfill the function of accumulation which was not 500 years old

That is only true for a coin like bitcoin and other similar coins, but for coins that do not really have a limited supply this is not true but at least if they have some sort of formula to produce the tokens then at least you know the inflation in advance, something that is not true for fiat anymore since many governments are now hiding how much money they are printing.

I think this inflation is due to many factors. The electronic market is just one piece in the whole piece of the economy
It only contributes to boosting the economy and making the community more advanced.
Inflation caused by objective factors. And surely electronic money will contribute to the economy and overcome this inflation.

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[charlotte04]

On this occasion, I will tell you how I overcame inflation with the help of cryptocurrencies living in Venezuela

As many know and as many do not, the inflation of the Venezuelan currency is in an inflation of 3000% and increasing. This leads to extreme poverty but that is not what I come to talk about.

I got into the world of cryptocurrencies 2 years ago, and I'm not giving myself many luxuries but considering what you live here, you can call it luxuries. I am not bathing in money but I am not in extreme poverty either, and I thank the world of cryptocurrencies and its positively volatile market.

Me too. I have got out from poverty because of crypto. I have quit my job and start on focusing on this and it went all good and now I can provide for my self and needs and also for my family.

[crypto success]

What every economy that is  undergoing inflation need is capital injection and introduction of cryptocurrency is a deliberate way of injecting cash into such a crashing inflationary economy thereby resuscitating the economy, thank God for your wise move

[kiatitami]

In my opinion, the price drop is not called inflation, e-money does not have inflation since there is inflation in the sense that they are different, not just as simple as you think.

[Kakmakr]

Every time I read something like this, I get a smile on my face. This is how Bitcoin is changing people's life in many small ways.   Bitcoin  helped people in Greece when they struggled with Banks and Bitcoin helped people in Zimbabwe, when they struggled with hyperinflation too.

Bitcoin is working at it's best, when governments fail. <Cyprus/Zimbabwe/Greece and now Venezuela.   >

Also, when centralized authorities misuse their power and control over people, then Bitcoin is used as a alternative solution. <Example : When Credit card companies stopped supporting Backpage.com>