{"id":927,"date":"2018-06-24T07:55:39","date_gmt":"2018-06-24T06:55:39","guid":{"rendered":"http:\/\/www.wasteyourtime.co\/?p=927"},"modified":"2019-09-09T12:56:44","modified_gmt":"2019-09-09T11:56:44","slug":"cryptocurrencies-powerful-tool-against-hyperinflation","status":"publish","type":"post","link":"https:\/\/traders-paradise.com\/magazine\/2018\/06\/cryptocurrencies-powerful-tool-against-hyperinflation\/","title":{"rendered":"Cryptocurrencies a Powerful Tool Against Hyperinflation?"},"content":{"rendered":"\r\n

2 min read<\/em><\/p>\r\n\r\n\r\n\r\n

\"Cryptocurrencies\r\n

Cryptocurrencies are a powerful tool against hyperinflation<\/figcaption>\r\n<\/figure>\r\n\r\n\r\n\r\n


Cryptocurrencies can be a powerful tool in protecting your funds against hyperinflation. There are pros and cons at the same time. In an interview on The Late Show<\/a> <\/em><\/strong>with Stephen Colbert<\/em>, Reddit co-founder Alexis Ohanian<\/em> said yes.<\/strong> \u00a0He believes cryptocurrencies can be an effective tool in protecting your funds against hyperinflation.\u00a0The reason he prefers cryptocurrency over regular fiat currency lays, in fact, that ”Cryptocurrencies are fuel for a potentially new internet”, as he said.<\/p>\r\n\r\n\r\n\r\n

\r\n
\"Alexis\r\n

Reddit co-founder Alexis Ohanian<\/figcaption>\r\n<\/figure>\r\n<\/div>\r\n\r\n

Ohanian<\/span><\/i> told: \u201cThings like Bitcoin and cryptocurrency are an opportunity for us to have a store of value that is not backed by a single country.\u201d <\/span>Further, he told that cryptocurrency gives people the ability to control their own money without any fear of forceful government intervention \u2013 especially in countries dealing with unstable political and economic predicaments.<\/p>\r\n

\r\n

“We sort of take it for granted the fact that we all have bank accounts, and we move money here and there, but for so many people in the world to have actually this security of knowing that what is yours is yours, because it is now digital, could be transferred with you wherever you are going, is actually pretty empowering,” said Alexis Ohanian.<\/span><\/p>\r\n<\/blockquote>\r\n

Ohanian’s <\/span><\/i>viewpoint is that Bitcoin can still offer more stability than the fiat currencies of countries struggling with hyperinflation in spite of the highly volatile nature of cryptocurrencies.\u00a0<\/span>He<\/span> recently made headlines with his predictions about the price of Ethereum and Bitcoin. A few weeks ago, the Reddit co-founder made a prediction that the prices of BTC and ETH (respectively) will reach $20,000 and $1,500 by the end of the year.<\/span><\/p>\r\n

Many are willing to say that this is an extravagant or pretty baseless prediction. <\/span><\/p>\r\n

\n
\n

Table of Contents<\/p>\nToggle<\/span><\/path><\/svg><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n