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The problem in hyperinflationary situations isn't lack of access to hard currency, it is usually readily available on the black market. The problem is the lack of affordability of hard currency. How many US dollars do I get for this piece of hyperinflating funny money? Probably not many.

Bitcoin is really no different from transacting in US dollars or any other hard currency, in fact it's arguably worse in pretty much every way. And you won't be able to get Bitcoins at affordable funny-money prices any more than you can get dollars.

So when you hear things like "Zimbabwe should switch to Bitcoin", just mentally replace that advice with "Zimbabwe should switch to USD" and imagine how that would play out. Harsh austerity measures, deregulation, and privatization to get a few measly millions of World Bank loans that will be gone in no time. Any country that finds themselves in a position where they can't issue their own currency is going to have a real hard time of it.

So just think "shock doctrine, but with Bitcoin".



Umm... You do know that Zimbabwe has used the USD and South African Rand as its currencies since 2009, right? They abandoned the Zimbabwean dollar due to hyperinflation. All I've ever seen there is USD.




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