Bitcoin vs inflation

[Inior]

I know say we don hear about inflation well well and due to the recent things wey dey chele for we country some of us don dey very used to the word, however some person never still grasp the severity of what's happening in our country and the whole world at large. But for this thread i go focus more on our country so that we go fit relate easily.
Now we go all agree say years before now the country been sweet pass like this and that na because the inflation rate been dey low, but as the years pass we come dey experience small small hardship, many companies come dey run comot we area, and na so plenty people start to loss their jobs. That aside the historical chart of our currency to dollar na clear evidence of say inflation dey really dey hammer us.

Now my problem  na besay Some persons never really sit down consider this inflation matter as e be so. Imagine the increase in price of goods or the exchange rate of dollar to naira from last 5 years, or to make matter worse look back to 20 years wey 1 dollar been dey equivalent to N130 today now e dey around N1419 per dollar wey don pass 1000% increase. Now imagine say in the next 10 years e just increase with 500% that go be N7095 per dollar. Person wey dey see this inflation matter as threat no supposed to dey dull em bitcoin investment, because  na wattin fit save am for this fight against inflation.

When you turn you head look bitcoin you go see say em overall direction na still bullish, which means e still dey sure to rise towards that direction, imagine putting that money for bitcoin for the 10 years. Trust when people go dey regret you go dey smile like those early bitcoiners now.

Chart to back up my point and data.
USD/NGN



BTC/USD


Here is the chart data link

[Ambatman]

I would like to add something that many tend to overlook.
The current Bitcoin price you see isn't inflation adjusted
So when we consider inflation we would realise that the price is lower than we believe.
Bitcoin isn't just rising but Fiat is falling
Many only see Bitcoin rising and not the fact that Fiat is also falling.

[Joy_learns_crypto]

I would like to add something that many tend to overlook.
The current Bitcoin price you see isn't inflation adjusted
So when we consider inflation we would realise that the price is lower than we believe.
Bitcoin isn't just rising but Fiat is falling
Many only see Bitcoin rising and not the fact that Fiat is also falling.

Fiat failing contributes only a little to why bitcoin is rising that is why many only see bitcoin rising and not Fiat falling. Fiat fall is not enough fact to the rise of bitcoin.
If we are considering inflation the price won’t be much lower than it is actually.
I know that there is inflation but it doesn’t contribute as much as you Dey talk .

[Jubilee58]

Di truth be sey Bitcoin go help us settle dis inflation matta for us. As we can see our fiat currency de comot value everyday, so if we keep our money for bitcoin, we no de only save our money but we de increase di value of our money too. No be today wey dis inflation begin de affect us like dis, e don tey and e com make our money loose value and di economy no com dey balance.

Dis inflation matta wey we de talk now, na di federal government of Nigeria wey suppose solve dis inflation matta but e dey clear sey dem de benefit from am because even dis our political leaders dem dey put día money for dollar investment and dem go come back hia com buy everything wey dem won buy.

No go keep your money for bank or put am for naira investment, dat go make your money loose value and inflation go help eat am up.

[Frankolala]

Fiat failing contributes only a little to why bitcoin is rising that is why many only see bitcoin rising and not Fiat falling. Fiat fall is not enough fact to the rise of bitcoin.
If we are considering inflation the price won’t be much lower than it is actually.
I know that there is inflation but it doesn’t contribute as much as you Dey talk .

Big investors are concerned about the regular fall of fiat currency which is why a lot of them are diversifying into bitcoin to preswebe their wealth. If no one is complaining about inflation it means that they're ignorant that fiat is falling in its purchasing power. However, whoever complains about inflation, ask him and he will complain that inflation leads to fiat falling.

[Inior]

I would like to add something that many tend to overlook.
The current Bitcoin price you see isn't inflation adjusted
So when we consider inflation we would realise that the price is lower than we believe.
Bitcoin isn't just rising but Fiat is falling
Many only see Bitcoin rising and not the fact that Fiat is also falling.

Indeed this is another major concern that we sometimes ignore probably because we are more concerned about the profit we making and not the well being of our own fiat currency.  Before now all we could do was complain bitterly about how things are getting expensive and how the value of our fiat is reducing so bad but now with bitcoin, those are not much of our concern as it seem to some level that we are immune to the threat of inflation since we now save in bitcoin.

I would like to add something that many tend to overlook.
The current Bitcoin price you see isn't inflation adjusted
So when we consider inflation we would realise that the price is lower than we believe.
Bitcoin isn't just rising but Fiat is falling
Many only see Bitcoin rising and not the fact that Fiat is also falling.

Fiat failing contributes only a little to why bitcoin is rising that is why many only see bitcoin rising and not Fiat falling. Fiat fall is not enough fact to the rise of bitcoin.
If we are considering inflation the price won’t be much lower than it is actually.
I know that there is inflation but it doesn’t contribute as much as you Dey talk .

I honestly don't see the severity you are talking about in his post, it seem more neutral to more as he did not specific the extent to which inflation happens to our fiat when bitcoin increases it price.

[Grace333]

Truly fiat is no more longer a safe space to keep our money as we can't tell when inflation is going  to hit the economy again, and the worst part of it is, the fact that when inflation hits the economy the government tend to take a slow approach in solving the issue which is the cause of buying things at consistently high price even when the inflation has gone down a little. It seems we have poor economist as governments officials.
There was a post I was the other day, which say if companies would require graduates and advanced educational degrees for certain positions why don't democracy do likewise, so we know we are lead by not just experience but people who truly know how to run the affairs of the country rather than an ordinary school certificate qualification ranging from primary 6 school cert.

[Marvelockg]

The easier way to look at inflation is to ask yourself the question, if I compare what the value of a thousand naira can buy at present to what it use to buy in five years back, what's the difference I can easily spot? Is the difference small enough relative to how much my income has grown? What about the value of bitcoin five years back relative to it current price at present? A simple sincere answer to that kind of analysis will directly show that inflation is mainly a fiat related concept that mostly eats up our fiat expecially in our Nigerian system. Bitcoin on the other hand is only seen to be volatile and the reason for it volatility is based upon real life factors that mostly affects the fiat when the direction of the volatility is negative.