How Bitcoin is fighting inflation so far

For most of us, the term "inflation" conjures up memories of back-of-the-napkin tabs and crisp, new bills. But for some people, that's not the way it works — or at least not how it's working for them. Inflation is a human phenomenon, and while it can sometimes be scary in its own right (especially when you can't quite figure out how to stop it), fighting for inflation is an essential part of any resistance movement. If you're ready to fight for your rights and stand up for what you believe in — even if it means taking on powerful organizations like the Federal Reserve — then this article is going to answer some of your questions regard to cryptocurrencies particular Bitcoin. 

What is "Inflation"?

In theory, inflation is the increase in the amount of money that is produced by a country. In practice, however, most of us have a pretty good idea what the actual figure is for inflation. When we talk about inflation, we usually mean the increase in the amount of money, not the rate of increase (see below). In other words, inflation isn't "a" problem — it's a developed and implemented problem. And until government starts providing more resources to the people who created inflation (like Woodrow Wilson did in 1913), the problem is going to remain pretty much the same.

Why Is It Important?

The more Citizens for Inflation (CFI), the less inflation will affect the rest of us. That's the idea behind the "proof of money" campaign. It's also why you need to be a part of organizations like CFI in order to fight for inflation: You're fighting for the same thing that makes a difference for the rest of us: Our money.

The Benefits of Fighting For Inflation

We've all heard the saying "You are what you eat," but that doesn't mean you have to eat the same thing every day. Inflation is the process by which increased amounts of money are created and spent by a country. When countries don't have enough money to pay everyone what they have been paid for a particular period of time, they use that money as "interest" on existing debts (like interest on loans). The more interest a borrower pays for a loan, the more often that loan will be ask-for-now since no-one will be able to say no to them any more. As a result, in a growing economy like the U.S. or even a developing country like South Korea, there will be an increase in the demand for basic goods and services. That demand will be satisfied by buying less stuff, which will give inflation less room to rise. That's the good news. The bad? It will take a while for inflation to fall below the 2% mark. And even then, that mark is far from set. There will be periods of inflation, like back-to-back years of 3% and 3.5% in 1881, 1891 and 1933, respectively, during which it's very hard to get below 2%. Then there will be other times during which inflation is extremely low and there's no one to worry about.

How to Fight for Inflation: The "Proof " Option

In order to fight for inflation, you'll need to know what the situation is in your own country. Ideally, you'll be able to get information on how things are in other countries as well, which will allow you to check what is happening in your own country against that information. You'll also want to keep in mind that inflation is hot — it will probably go up in the near future, and it might even become a significant issue in your own country. That means that even things like the cost of living might increase in the future, which will also affect how you spend your money. Therefore, Bitcoin was introduced in 2009 to become a solution to fight foreseeable inflation triggered by the central bank of control on printing massive amounts of money.

How to deal about the inflation as far

If you want to fight for inflation, you'll first have to recognize the problem and get on the same page about how to solve it. The most important thing you can do is understand what is happening in your own country, what your peers are experiencing, and what steps people are taking to address it. But how Bitcoin or other crypto can fit in the puzzle to help you out in the way to hedge against currency devaluation. Unfortunately, companies that mine Bitcoin during the high inflation time is about to go out of business due to high cost of energy that can no longer be sustainable to mine Bitcoin to offset the cost of the energy.

But thanks for decentralization, Bitcoin mining does not solely rely on the big players and mining will internally resolve itself in the short term to provide long term sustainable services.

It means more miners will join to push the cost of mining lower while the technology will improve forward and create growth to fight against inflation.

The Final Word

So, how do you fight for inflation? How does someone like you, a regulate people, stand out against the entrenched forces of money and power? There is no single solution to resolve the complicated problems but there is hope that can help you weather the uncertain future.

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Photo by Sean Robertson on Unsplash