Gee I bet Egyptian Bitcoiners are really regretting holding the first and only absolutely scarce asset on the planet.. 
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That looks like a Balaji bitcoin to 1million chart. Savage.
I guess @Lyn Alden egyptian mortgage just got much less of a burden.
Holy shit! Don't think America is ready for a 50% bitcoin jump in a day 🤯
Is this the Ra candle?
Beautiful to see Egyptians escaping the Faraoic decree of monetary debasement.
Go Egypt!
The Ra candle
Gee I bet Egyptian Bitcoiners are really regretting holding the first and only absolutely scarce asset on the planet.. View quoted note →
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It’s sad that people with plenty of resources and global exposure can arbitrage it like that, whereas people with less access to credit face the brunt of it.
Yes.
The problem with hyperinflation is it happens slowly, then all at once. It's too late for these folks to use #bitcoin to protect their wealth. Our best hope is to hodl them up as another example of the inevitable systemic failure of central banking.
Looks like some preserved purchasing power to me. 🤙🏻
Cheap credit (access) is a kind of debasement bail-out line for a select group of people. But it also isn't free, it's tiresome to always have totake risk just not to get dilluted.
Did "everyone" in egypt expect this? Do they try to change their EGP to dollars/euros/btc/gold as fast as possible as a daily routine?
This going to cause a disaster.
When do the protests start?
Assuming the Egyptian Pound has finished devaluing...
Perhaps the role of a bitcoiner is to hodl, then be the philanthropist for others.
Wow fiat USD is so awesome.
As an added bonus you can also buy stuff with it or so I hear. I mean stuff other than EGP.
Ah mortgages in shithole countries. The new envy of the depraved cockroaches.
@Lyn Alden is the power still on in your Egyptian dreck house. I'll be checking back with you daily.
How about running water, too. I'm not even asking about potable water.
I recommend this against the cockroaches.
Fake data. BTC and EGP are so shitty you can't even trade the one for the other.
Bitcoin's continual highs against fiat, including the US Dollar, signal weaknesses like inflation, driving demand for its decentralized scarcity.
Lyn not to say you're doing this as you are protecting family.
But it seems like any entity earning cash flow in a superior currency could loot and pillage the hard assets/resources of a country with a dramatically devaluing currency.
The only risk being the precariousness of rule of law in that country.