Impacts of your national economic and the fiats values to your bitcoin holding

[AVE5]

While our national and economy rate is differed, so also the value rate of our traditional currencies differs in values too.
So does it affect your Bitcoin holding? And does it also affects your bitcoin value tradiing rates?
To me and the other average citizens and investos from this side, it's very much negatively effective at the moment as we've been struggling to meet up financial challenges due to excessive cost of goods.
My economic system is very down and the value of my traditional currency is very low comparing to USD. This has caused me excuses not to accumulate more of bitcoins to my holdings than expected.
At this juncture, I'm being optimized to wider my sources of income just so I can let my bitcoin assets stay untouched while it grows in values as I continues to hodl.
This is really panicking and tormenting to temper with my holding but I'm stressing out with excessive economizations just to reach my goal of Investing in this bitcoin industry.

Meanwhile as the fact that my fiat in value is being depreciated to the USD, that's the more my increments to trade and exchange my bitcoin assets is also appreciated.
So on the other side, it's assumed that I'm earning my bitcoin investment in the USD rates which is very much valuable during a trading exchange of my bitcoin to my fiat. That is just where my confidence in investing in this crypto market lies.

Who's on this same circle with me? What similar or unique situation do you've to share with us?

[Frankolala]

This is why it is good to invest in bitcoin because it is an hedge to inflation. Since the economy of your country is poor, it is better that people in your region use the advantage to save their funds from depreciation by investing in bitcoin. USDT is good too, since it has high value to your local currency, but it is a stable coin, and cannot generate profit for you. This is why bitcoin is the best.

My country's economy is poor with high rate of inflation, but I have almost all my funds in bitcoin so I don't feel it that much. The problem that I have is that the price of commodities are skyrocketing every hour, making life more difficult for the low class citizens.

[Helena Yu]

Looks like you're live in a fucked up country, can't really say too much because even you can find a better job, the inflation will takes you earning. The best solution is if you have a skill that you can offer to other countries by working remotely or you're moving to other country that has better economy.

Don't hope your boss will increase your salary, most of them won't increase the employees' salary as big as the inflation rate.

[moneystery]

This is why it is good to invest in bitcoin because it is an hedge to inflation. Since the economy of your country is poor, it is better that people in your region use the advantage to save their funds from depreciation by investing in bitcoin. USDT is good too, since it has high value to your local currency, but it is a stable coin, and cannot generate profit for you. This is why bitcoin is the best.

...

however, when more people save their money in bitcoin or usdt, it will further weaken the country's economy and actually make the problem worse. so this is like a dilemma, where on the one hand people need to save their assets, but on the other hand they also don't want the economy in their own country to get worse with their decision to move their money to bitcoin.

[Reatim]

USD is a lot greater than my fiat currency. I am on the same boat as you, mate. I have planned for myself
to do DCA method but it’s becoming harder and harder to actually achieve.
There are so much bills to pay and necessities to buy.
It doesn’t help that inflation has been growing rapidly here in my country.

All I can do right now is to rely on airdrops and continue to hold no matter
how hard it gets, I don’t want to sell my coins.

[GeorgeJohn]

This is why it is good to invest in bitcoin because it is an hedge to inflation. Since the economy of your country is poor, it is better that people in your region use the advantage to save their funds from depreciation by investing in bitcoin. USDT is good too, since it has high value to your local currency, but it is a stable coin, and cannot generate profit for you. This is why bitcoin is the best.

...

however, when more people save their money in bitcoin or usdt, it will further weaken the country's economy and actually make the problem worse. so this is like a dilemma, where on the one hand people need to save their assets, but on the other hand they also don't want the economy in their own country to get worse with their decision to move their money to bitcoin.

The more people come in into cryptocurrency investment the more the market skyrocket,  so using that word that bitcoin when more people invest in bitcoin it crashes the price or it Bitcoin fall, in bitcoin when the supply is higher than the demand the price always fall in the market, so but when the demand is higher than the supply the market goes low.

[Mpamaegbu]

While our national and economy rate is differed, so also the value rate of our traditional currencies differs in values too.
So does it affect your Bitcoin holding? And does it also affects your bitcoin value tradiing rates?

But of course, traders and investors from countries with two digits inflation will have the benefit of two profits, so to say – one, from the appreciation of a based foreign currency and the second one is the price appreciation of Bitcoin. This is what's applicable in my country. Anyone who's into Bitcoin and is hodling it in that country is more likely in a comfortable position of profit, except they bought the top, which I doubt.

My country's economy is poor with high rate of inflation, but I have almost all my funds in bitcoin so I don't feel it that much. The problem that I have is that the price of commodities are skyrocketing every hour, making life more difficult for the low class citizens.

That's the spirit. Na so e supposed be. Anybody in countries with high inflation such as ours and who isn't keeping their money in Bitcoin as of now is at a great loss.

[Cryptomultiplier]

USD is a lot greater than my fiat currency. I am on the same boat as you, mate. I have planned for myself
to do DCA method but it’s becoming harder and harder to actually achieve.
There are so much bills to pay and necessities to buy.
It doesn’t help that inflation has been growing rapidly here in my country.

All I can do right now is to rely on airdrops and continue to hold no matter
how hard it gets, I don’t want to sell my coins.

So long as you still hold on to something and don't try to be greedy by investing in get rich schemes, you are doing just good.
Also, maybe if we stop thinking too hard about following the DCA strategy hardcore, and just let it flow, we could actually succeed in actually having a HODLing that we would normally not have had and be glad about it.

I can't begin to complain or show so much pity with words, but I can say we just have to make do in whatever way, possibly get other sources of income and just HoDL BTC earnings or airdrops in a wallet safely for future profit.

[_BlackStar]

-snip-

The more people come in into cryptocurrency investment the more the market skyrocket,  so using that word that bitcoin when more people invest in bitcoin it crashes the price or it Bitcoin fall, in bitcoin when the supply is higher than the demand the price always fall in the market, so but when the demand is higher than the supply the market goes low.

You are right - this is the law of the market. The higher the demand, the higher the price, while the lower the supply compared to demand, the price will fall. People have understood it well even though there are some of them who still fail to understand.

OP - inflation causes the value of your fiat currency to fall when you buy goods or investment assets. So in this case - you may need more money to buy the same product as inflation increases, so does the impact on bitcoin. You need more money to buy bitcoin when the fiat value falls - but because of its price volatility, you may be able to buy a lot when the value of bitcoin have correction.

[Zaguru12]

however, when more people save their money in bitcoin or usdt, it will further weaken the country's economy and actually make the problem worse. so this is like a dilemma, where on the one hand people need to save their assets, but on the other hand they also don't want the economy in their own country to get worse with their decision to move their money to bitcoin.

In as much as I agree with you a bit, I want to disagree that not hoarding one’s country currency actually weakens it, hoarding to me is one of the reason for excessive printing of more fiat and that as we all know is why most countries fiat currency fall. If according to understanding citizens save their funds in the local currency the government will still print more. The only solution is having a fixed supply and to make the currency sorted after by other countries and their citizens through the economical exportation. Only this can make a currency strong not only hoarding it

[Faisal2202]

Things don't remain the same always. Because there was a time when the dollar rate in my country was 320pkr and I have buying from that time, and now the dollar rate is between 280 to 290 pkr. The point is, that we might lose money in dollar rate conversion. But in the long run, by holding BTC we are already in great profit. And the dollar rate doesn't put that much profit in compared to BTC on our plate.

But yeah profit is profit and we should appreciate it. BTW you asked who is in the same cycle, I am in the same cycle. I once made a loss in my BTC holdings, but the dollar rate was so high that, when I withdrew my funds into fiat I was in profit (well, the profit was not so much) but as I said profit is profit and we should appreciate it. I suggest you hold tight to your holdings because BTC will give you good profit if you hold it for a longer period of time. BTW are you thinking of booking profit in this cycle?

[AVE5]

Looks like you're live in a fucked up country, can't really say too much because even you can find a better job, the inflation will takes you earning. The best solution is if you have a skill that you can offer to other countries by working remotely or you're moving to other country that has better economy.

Don't hope your boss will increase your salary, most of them won't increase the employees' salary as big as the inflation rate.

You can say that again that I came from and living in a fucked country because there's no just point of arguements with it. Absolutely true. We're talking about how an average citizen are not living a standard live here instead they're struggling to survive. I'm probably one of them and you talking about how I can render skill service to other countries can be an advantageous wall for me but that's not easily obtainable.
It's usually easy to say than to do. Then I decided to get on to accumulating and holding my bitcoin assets as much as I can while I strives on diverses to attain incomes just so I'd be assured that I'm keeping my assets untouched for a long time while awaiting for the bull.
I neither not rely on salaries because responsibilities and the job tasks has always be growing while salaries remains them same or even preferably to be depreciating. I'm a grinder and a diverse hustler.

[Volimack]

It will take a long time for the economy to recover due to high inflation. Due to the increase in inflation the poor people are not able to meet their needs properly of which the economy is going down. Right now bitcoin is the right decision to consider bitcoin has nothing to do with inflation and investing in this currency will turn your wealth into a better one. Investing in bitcoin will help people live better.

[avikz]

I honestly see no issue in comparing the fiat value of my Bitcoin holding. I mean that's the most used way to understand the value of your Bitcoin. Because in many countries we cannot use Bitcoin directly in the merchant outlets. Also considering the current situation of transaction fees, it is not really a preferred way.

Fiat value will keep on changing just like Bitcoin. Unless and until your country is going through hyper inflation, it's all good to compare the value and to utilise it that way.

[Alpha Marine]

Bitcoin has helped me a lot when it comes to inflation in my country. If it was any other investment, I would have invested in fiat and the rate of inflation, no matter how much the profit, it would not be worth much.

I don't get scared when I invest in Bitcoin. Bitcoin is truly a hedge against inflation. Before, when I save for a short-term goal, I usually did it in my local currency because, in the short run, Bitcoin price might dip a little, but now I just save in Bitcoin, be it short-term or long-term.
I don't convince people to buy Bitcoin, but the few people who have bought Bitcoin because of me usually thank me later because it's not comparable at all to our local currency.
It's such a big advantage for your savings to also be an investment.

[God bless u]

Everyone will agree with you I think. The financial conditions of people are degraded continuously nowadays and the currency is losing its value. It surely will affect the Bitcoin holdings but there are two different things. If you're a coin holder then it's great because the value of your money that is being held will increase but if you're someone who is looking to Invest that of course it's bad news.

The point here is whether we should get happy or not. Holders are happy but up to what extent? The poor people are starving day by day and it's not a good feeling for sure. We should try to help people and for ceasefires wherever the wars are taking place. Humanity is at risk!

[kentrolla]

It's like two side of a coin wherein the one who are hodling Bitcoin or even USD are happy as the value of national currency is on downward trend which means they will get more for their holding on the other hand those who wants to enter the market it has become difficult for them. I think this is bad because even those who are in profit due to their holdings will eventually spend money or convert but the devaluation of currency leads to inflation and even though those.who are other other currency would also be paying more as a ripple effect of inflation. This has to.be fixed else it create chaos.

[sokani]

The fiat has failed us over again and again but Bitcoin has not because it's an edge against inflation. Using my country as an example, the economy is struggling, the fiat is constantly losing it's purchasing power due to high inflation rate. If you had saved some money in the bank some years ago for a project, you won't be able to execute it today because of the hike in price of commodities. However, if you had been saving up in Bitcoin, you can make my dream a reality because the value of Bitcoin has also appreciated over the years. So it's good to hodl bitcoin than saving in fiat.

[Ndabagi01]

Who's on this same circle with me? What similar or unique situation do you've to share with us?

Many people may be in a similar and unique situation as you, but they would not come out publicly to say it because it would be advantageous for them to receive pay in USD rather than paying them in their fiat currency, which will undoubtedly feel invaluable when collected. The benefit of this is that it allows you to get more value for your fiat currency when converted from dollars. As the economy grows, you'll be able to flow with it rather than feeling added or reduced, depending on the case.

The major disadvantage is that you will not be able to own more USD when converting back because you may spend more when buying back. As a bitcoin investor, converting the money to fiat in the first place and allowing the money to appreciate before buying back may result in more losses or an even ratio of money invested to money profited. As a bitcoin investor that uses DCA, it will have an impact on your holdings.

[Captain Corporate]

I do not think that it should. I mean we are talking about bitcoin beating out all fiat, so it doesn't feel like it should matter to anyone at all. I am not saying that it would be impossible, all I am saying is that it shouldn't matter to anyone. I get that something like US Dollar would be more valuable compared to our Turkish Lira, but bitcoin is more valuable than both anyway, so its not really a big deal. I think the best way to go would be just keeping your money at bitcoin, and ignoring everything else. This is just me though, maybe I am right or maybe I am wrong. I doubt I am wrong though, look at the value of bitcoin in dollar terms, bitcoin is far superior right now.