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100 sats \ 0 replies \ @tldr_dead 28 Apr 2023 freebie
Argentina's annual inflation rate has hit triple digits for the first time since the period of hyperinflation in 1991, according to the country's statistics agency. The inflation rate climbed up to 104.3% in March, which not only puts a strain on consumers but also stokes the cost-of-living crisis that has been pushing poverty up. Analysts had forecast a 7.1% monthly rise in March, but it actually stood at 7.7%, marking the fastest increase since 2002. The country, which is a major exporter of grains, is also dealing with one of its worst droughts, which has caused the soy, corn and wheat crops to fall considerably.
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33 sats \ 0 replies \ @TheBTCManual 27 Apr 2023
Oef, between Argentina, Lebanon and Turkey I don't think people are paying attention to how quickly currencies can devalue, I never paid much attention to the Venezuela one, but I did to the Zimbabwe one and its amazing how people from other countries right it off like it can't happen here
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11 sats \ 0 replies \ @nullama OP 27 Apr 2023
This is a preview of what's coming to a country where you live.
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0 sats \ 0 replies \ @squatopia 28 Apr 2023
@tldr
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0 sats \ 1 reply \ @franzap 27 Apr 2023
Sadly, Bitcoin is not the first solution people think of when suffering from inflation (at least here in Argentina): it's the US dollar.
People are obsessed with it because it's a clear winner compared to the peso, and that makes total sense.
Volatility is a tragedy for Bitcoin.
It is absolutely NOT a clear winner – unless you have the mindset or financial means to wait it out for 4 years. So it is a hard sell to the vast majority of people.
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10 sats \ 0 replies \ @gnilma 27 Apr 2023
Sad but true. Bitcoin is still young and its superior store of value property is still not apparent to many many many people. Bitcoin needs to establish itself in the minds of many more people as a better store of value before it will be chosen by the masses as a save haven asset. For the time being, majority of people will always flock to USD whenever there is a crisis.
This tells us that we are still early and there is much more orange pilling to do.
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0 sats \ 0 replies \ @kakocuro 27 Apr 2023
Funny, how most people around me think, this can never happen here. We have a good economy. But I keep trying to orange pill anywhere I go.
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0 sats \ 3 replies \ @godlikeXi 27 Apr 2023
Saving and investing is an ACTIVE thing. Stay ready so you don't have to get ready.
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0 sats \ 2 replies \ @franzap 27 Apr 2023
I don't think poor people here have the time or skills to do any investing
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0 sats \ 0 replies \ @godlikeXi 27 Apr 2023
when you'll living day to day there's no bandwidth to think about tomorrow. That's survival mode. Fear, scarcity and lack.
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0 sats \ 0 replies \ @ek 27 Apr 2023
invest in yourself: skills, health, relationships
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