while some speculate that More and more people are going into crypto because of inflation, but the reality is far from the expectations of some members. By the discussion on the subreddit r/cryptocurrency. about this topic There was discussion as to why the inflation rate was higher. That hasn’t driven more people into the crypto space.
According to Reddit users, events like the Federal Reserve printing more and more money and governments spending more and more led them into crypto as one of its functions was to hedge against inflation, with a Redditor posting that they expected. Hope others will do the same. however Community members were confused as to why this was not the case.
a community memberpoint outthat higher inflation means that the cost of goods is going up. “Less investment,” suggesting that people will prioritize their basic needs rather than invest their money in crypto, while other users will.seewith this concept
meanwhile Another user said that The US Dollar (USD) has performed well throughout.year According to users, even Bitcoin is losing value compared to the USD today.believeThat people don’t jump into crypto because of concerns about volatility, lack of use cases, as well as fear of scams, rug pulls and mass hacks.
But despite the negative thoughts but some people stillargueThat in terms of volatility, Bitcoin is even less volatile compared to some tech stocks this year. and in terms of use cases Users argue that there are many use cases in cryptocurrencies such as simpler cross-border transactions and smart contracts. Community members say scams are everywhere, citing real estate. fake gold scam and various chain sharing projects
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