United States Dollar could be the next fiat currency to hyperinflate.
As we all know, many countries are trying to regulate cryptocurrencies because they are a threat to their money printing monopoly. Central banks, together with central governments, want to keep printing money without having a limit on inflation. They are disguising their crimes as regulations.
When a government starts to issue orders that don't benefit the majority of its citizen and only the ultra-rich, and they wish to trap your hard earn assets in a cycle of hyperinflation, that's when it is your right to change your money for something that will help you fight the devaluation of your money.
Power corrupts, and absolute power corrupts absolutely. Governments issue fiat currency backed by nothing and only by its authority, and the population is willing to accept that because most of the time, governments are kept under control. They don't print too much, but eventually, they will print your money away from where the benefits of inflation start to hurt the regular citizen more and more. By first expanding and second reducing the money supply, banks reduce or increase inflation, and by the same method, they produce booms and busts in the economy.
But at the end of the day, the money printing will make all the regular citizens, just serfs, and peasants. Still, with today's technology, humanity can space that by putting their money into the future next money Bitcoin BCH. Of course, central banks and the government will try to fight this to the last moment, seeing this already happening. In places where inflation and hyperinflation are already happening, the question is when it will be the turn for your country to try to ban cryptocurrencies as a whole and especially Bitcoin.
In Turkey, the government is banning the use of Bitcoin as a peer to peer currency because that's the real threat to governments, the peer to peer aspect, not anything else, and Bitcoin supporters are right on this one, if they keep the blocks at 1 Mb for block Bitcoin will be a speculation asset at best, and nothing more on which you will only bet on the price going up or down in respect to your local fiat, which means that your local government and bank can make that fiat you got worthless, and so what could have stopped will be value in the same directive that is being devalued, in other words, you don't get to space inflation or hyperinflation. But Bitcoin Cash, on the other hand, is a peer-to-peer currency.
In the case of Bitcoin BCH, the government of Turkey is under direct threat. That government will have to stop printing or risk hyperinflation, so the rise of Bitcoin BCH by the people who wish to conserve their purchasing value. In the case of BCH in Turkey, they can still trade at exchanges where governments can track it and tax it because of capital gains, but once people start to use it as currency and salaries are paid in BCH, the usage of central exchanges will be less. So the government will lose the ability to track who owns what.
When a deep stick hits the fan, the government goes to the point, and it is peer to peer, which governments around the world fear, nothing more, nothing less. Everything else is just noise. If you want to lose purchasing power, use fiat currencies or Bitcoin BTC because even if you gain ten thousand times or 10,000x your money with Bitcoin BTC the next day, your government prints 10000% of yesterday's supply, you have gained nothing at that point. As a speculation asset, you will only exchange it for fiat because no one will be able to pay the transaction fees anyway if you try to use it as currency.
And that's why Turkey's government wants to ban peer-to-peer because they know that they can make your store of value or speculation asset worthless by tomorrow. Still, if you use Bitcoin as peer-to-peer (which you can't, you can only use Bitcoin BCH as peer-to-peer), they can print all the money globally, and you won't lose your purchasing power if you use your satoshis correctly, that is.
Bitcoin BCH is peer to peer because it has low transaction fees, and that's precisely what that government is banning now. All of that will come to the United States also. It is just that the Federal Reserve is not desperate enough to try to implement this kind of draconian laws just yet, but make no mistake United States dollar is going the same way as the Zimbabwe dollar thanks to the Federal Reserve printing money, which now they call QE, stimulus checks, and outright corporations bailouts.
I am not telling you not to accept your stimulus checks if you get them; I am telling you that if you have some extra money, put it into something that saves your purchasing power against inflation and hyperinflation, and if cryptos are on your menu to choose Bitcoin Cash BCH because it is Bitcoin and because in the future you will be able to use as a currency that could increase in purchasing power thanks in part because it works as peer to peer but because it has limited supply and no government can print it or ban it either.
Yes, at first, you will see that other countries that you know have lousy currency policies will start trying to ban their peer from peering into aspects of Bitcoin BCH. Still, your own country is also doing it, not only the US. Every country in the world is doing the same thing, printing currency and trying to ban the use of Bitcoin BCH as a currency, but US Dollar is the world's reserve, so it will be a worldwide event when that currency goes. Try to see beyond the store of value narrative because that's not what the governments are fighting, which means they are confident they can make that redundant. They are only fighting that which will benefit you, the regular citizen, in the future. If the government is not banning stores of value or speculation assets, they know that it is not a threat. What is good for you is not so good for your government; printing currency monopoly is good for governments, corrupt bankers, and government apparatus.
Great article. I think the Elites are using the power of government against people and we are seeing this more and more blatantly everyday.
Moving away from fiat could be a game-changer that will remove the power of central banking.