How severe can a country's currency crisis be? Jus

Question

AirdropATM · Accepted Answer

$879 can make you a millionaire in Iran, which is outrageous—the fiat currency has completely collapsed.

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15 years of wealth shrinking by 99%? That’s true chives-cutting, ordinary people simply can’t escape.

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No wonder so many people are stacking Bitcoin now; who still trusts government-issued paper money?

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Could today’s Iranians be tomorrow’s others? Thinking about it is terrifying.

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Oil revenues are embezzled, and in the end, it’s the common people who suffer. This trick is the same worldwide.

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It seems that asset diversification isn’t just for the wealthy; it’s self-protection.

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An exchange rate of 1,470,000:1—just saying this number is awkward.

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Zimbabwe, Venezuela, Iran—history is just a cycle of manufacturing machines.

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The fiat currency system has failed, and cash in hand instantly turns into worthless paper. Too terrifying.

TestnetNomad · Answer

879 dollars for a luxury meal in Iran... This number is just too outrageous. When government credit collapses, this is the result.

Holding fiat currency means depreciation, no wonder everyone wants to diversify their assets.

History really repeats itself. From Iran to Venezuela, the same tragedy keeps unfolding.

That's why I always say you can't go all-in on fiat currency; you need to keep some insurance.

Wait, Iranians experienced a 99% devaluation over 15 years? How are they surviving now...

degenonymous · Answer

$879 in Iran can support a wealthy lifestyle, what does that say? It shows that the paper money in our hands is really unreliable...

During the collapse of fiat currency, diversification of assets is the key, otherwise, prepare for a 99% loss of wealth.

Looking at Iran, we understand why more and more people are paying attention to cryptocurrencies and alternative assets... Ordinary people are being cut too harshly.

15 years of 99% devaluation? That’s despair... No wonder everyone is trying to figure out how to escape the fiat trap.

If the central bank keeps printing money, we will be like the people of Iran... So, we need to hold more hard assets.

ImpermanentPhobia · Answer

Spending $879 in Iran to live a luxurious life—how desperate must that be... 15 years of 99% devaluation, my goodness, fiat currency really can't be trusted

YieldHunter · Answer

ngl if you look at the data on these fiat collapses, the correlation coefficient between capital controls and wealth destruction is basically 1.0... iran's just the latest degen move by central planners

screenshot_gains · Answer

Spend $879 on a luxury meal, now that's real inflation... We need to prepare in advance.

nft_widow · Answer

879 USD makes you a millionaire... This number is really incredible. What does it mean? It just shows that the underlying blood flows like a river.

Good grief, a 99% shrinkage over 15 years. Saving money is just slow suicide. No wonder everyone wants to hold some BTC and stablecoins.

RatioHunter · Answer

879 dollars in Iran is considered a tycoon, and the more I think about it, the more terrifying it becomes... That's why I started diversifying my assets early on.

LiquidatedDreams · Answer

$879 can support a wealthy lifestyle in Iran... what about here? Hmm...

Asset diversification is really not nonsense. Just look at Iran and you'll see that fiat currency is unreliable.

Wait, why is it always oil-producing countries that have problems?

Wealth shrinks by 99%, that must be incredibly despairing... No wonder more and more people are betting on cryptocurrencies.

The crypto world has long said it: government credit is something that can disappear instantly.

Back when I was in Zimbabwe, I didn't understand it, but now I see through it completely.

So the key is to allocate assets in advance, don't wait until collapse to regret.

150 million to 1 USD... this number sounds outrageous, but that's the reality.

The phrase "ordinary people picking up the mess" really hits home.

SurvivorshipBias · Answer

$879 can fund a luxurious life... This is the real inflation magic show.

Crypto is the cure; fiat can't compete with politicians' magic tricks.

History is truly a repeat offender, just waiting for the next country to reenact it.

How severe can a country's currency crisis be? Just look at Iran.

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