In the long history of mankind, it is full of the scourge of hyperinflation against ordinary people. Some governments have used banks to spam banknotes, create hyperinflation, and madly plunder the wealth of local people.

Take Venezuela, where inflation has been extremely severe recently as an example, according to the latest forecast of IMF, as the government continues to print money to make up for the expanding budget gap, by the end of this year, inflation in Venezuela is likely to soar to 1000000%, making it one of the countries with the highest inflation rate in modern history. The bitcoin that appeared in despair made Venezuela and the African poor of similar fate see the hope of a better life. And you must have heard some

bitcoin news about btc coins saving people who suffered from inflation.

In Africa and South America, a large number of poor people have avoided the looting of wealth by the ruling class because of cryptocurrencies. The essence of the central monetary system on which human society currently depends is based on a relationship of trust. Because you trust the bank and trust the country, this system can work. While Bitcoin, the largest cryptocurrency as

bitcoin market cap ranks NO.1, completely overturned the system. In this new world, the national, banking, and other authority symbols disappeared. The entire ecology of Bitcoin is built on the blockchain technology, and the integrity and trust of the entire set of operating rules behind it are guaranteed by the technology and the code itself.

Bitcoin is extremely limited in supply, and many bitcoins can be seen as permanent losses. Therefore, Bitcoin has its special value in combating hyperinflation. It is its existence that supports the poor people in the hyperinflation countries and the hope of living barely. In the future, Bitcoin can not only prevent the rogue countries from plundering the people naked, but also promote the local democratic process and improve the living standards of the local people. At present, Africa is actually an experimental field for cryptocurrencies to change human society.

Bitcoin is the natural enemy of hyperinflation. However, many people regard bitcoin as a tool for terrorism and money laundering. I think this understanding is wrong. First of all, I think the biggest driver of organized crime is cash. Many other modern inventions, such as the Internet, Weibo, cars and mobile phones, are used by criminals. But this does not mean that we have to stop the pace of scientific and technological progress. The advancement of science and technology is definitely more beneficial to the development of human society than harm.

Moreover, there is not much evidence that Bitcoin is now being exploited by malicious people. Remember: Bitcoin is not completely anonymous and not trackable, and every bitcoin transaction is recorded on the blockchain, which can be queried. The British government's research on the best channels for money laundering has always shown that the possibility of using Bitcoin to launder money is very low.

Anyway, the bitcoin value in inflation is undeniable, and as African governments continue to plunder the wealth of African people through inflation, bitcoin will be accepted by more and more African people, which means that Bitcoins trading volume and bitcoin market value will increase.