The Effect Of Bitcoin Cash Adoption On Inflation And The Pandemic

I'm obsessed with the article shared by @pantera about bitcoin cash merchant adoption and advice

Actually this is very good considering many countries whose regulations do not prohibit civil society from using cryptocurrencies. this is an opportunity to adopt bitcoin cash on a large scale.

The effect of inflation during the pandemic period is a driving factor to restore the slumped economic system by using a more specific or more targeted way by using a payment system without being subject to state taxes.

By definition, inflation is an increase in the prices of goods and services in general and continuously over a certain period of time. meaning that inflation greatly affects the economic life in a country because of the weak value or price of fiat currency.

It is this consequence that makes the image of the economy in a country not run so well because it will affect social inequality in the economic caste of society. the poor will suffer more and the rich will be rampant in the problem of price transactions.

The fluctuations that occurred during the pandemic period were the heaviest blows that certain countries had to endure. many countries went bankrupt so this turmoil forced some countries to borrow money from world banks.

According to the World Bank report, the debt of middle and low income countries now reaches US$ 8.7 trillion in 2020. This value is up 5.3% compared to 2019 due to the Covid-19 pandemic. International Debt Statistics for 2022 also mentions the increase in debt burden 2020. The value reaches US$ 860 billion, an increase of 12% compared to the previous year.

In view of this information, the impact of the pandemic actually had a significant impact on a long period of time for the recovery process of the economic system.

The government's contribution to dealing with economic problems has actually been seen to be maximal. because they have to try to take risks to reduce the rate of poverty in the country due to the difficulty of sources of community income due to the pandemic factor.

Reinforcement To Use Bitcoin Cash Payment System In Case Of Inflation

In certain cases the problem in inflation is the amount of money circulating in the community which will affect price increases. When people tend to have a lot of money, the demand for goods will increase. However, the increase in demand for these goods is not accompanied by an increase in the number of goods available in the market. As a result, the price of goods will increase.

From this case, actually bitcoin cash is an opportunity to become a payment option to suppress the inflation rate, during a pandemic that has damaged a good economic system in society.

But keep in mind that this method requires consistency which requires a long process so that bitcoin cash is fully accepted in a legal payment system in one country.

There are several inhibiting factors for the performance of bitcoin cash as a means of payment that is able to overcome the turmoil of economic life.

• Bitcoin cash or crypto currency is not yet known by many people.

• Lack of socialization from the government for crypto currency even though it has been officially accepted for use in payment transactions.

• Network problems have always been an obstacle in the territorial existence of a country or region, because the internet network has not been fully accepted as a whole, it can be seen from the comparison between network connectivity in cities and remote villages.

• Inadequate use of hardware in the form of computers, laptops and cell phones because not everyone has this kind of media.

• Lack of knowledge of technology and communication in remote areas.

Of these factors will hinder the use of digital payment transaction tools. but actually bitcoin cash is a solution to overcome economic problems in a country in close relation to the problem of inflation and the damage to the economy due to the pandemic.

There are several factors that will affect the performance of bitcoin cash to overcome inflation and economic problems during the pandemic.

The Effect Of Bitcoin Cash On Inflation

• Bitcoin cash can suppress the inflation rate because it will reduce the circulation of fiat or real currency which will affect the demand for an item, meaning that when the circulation of money is getting smaller, the demand for an item will decrease so that the price will not rise and become stable. using a digital payment system will reduce the circulation of real money.

The Effect Of Bitcoin Cash For Economic Turmoil During The Pandemic

• Opening business opportunities when getting bitcoin cash from gift provider platforms such as read.cash and noise.cash for people affected by the termination of their work contracts due to the pandemic to help with the costs of increasingly critical food needs.

• Can work from home without having to leave the house to maintain and reduce mobility to reduce the rate of transmission of the virus.

• Helping the government to suppress the increasing rate of virus cases that keep changing variations and protecting families and others.

This is the use of bitcoin cash for life that will have a significant impact for the better. because the real change must start from ourselves for many people.

Bitcoin cash is a friendly friend for everyone, not complicated and always provides solutions for everyone's needs. remember, a good and true transaction is the cost is cheaper.

Interpretation

This article provides advice for processing economic life for the better. because the real role of economic actors is all of us. The progress and decline of the economic system lies not only in the role of the government but also with us as real economic actors. there is no element of coercion or other things that incriminate certain parties.

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© 2022 Pajeroz . This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice.