The saddest image I've ever made I think. We need a #Bitcoin standard yesterday.
"Ah fortunately it is only 6.2% in the US and 4.1% in Europe, we're safe."
Fortunately Bitcoin is starting to catch up in at least one metric, volume. Looking forward to seeing users and transactions follow. blockdata.tech/blog/general/…
Updated version, as new statistics for Lebanon and Syria came in, and I forgot to label Ukraine. Thanks to those who pointed it out.
I also want to thank @gladstein for the inspiration to make this. In his tweetstorm he highlighted many of these countries. I wasn't able to verify all of them with "official" data, but fully believe the # of countries & percentages are higher in reality.
More people are waking up.
Tells a lot how incompetent people run this word.
This image will show 3x more countries in 5 years
You’re missing half african countries.
Those countries use the xof which is pegged to the euro so they kind of share the same inflation rate as the euro.
The map should be covered in red, considering the real inflation is much higher than the official numbers.
Yeah I heavily debated the coloring. Making even 10% seem "mild" in color when it's all awful gives me mixed feelings. Still need some kind of way to distinguish them I guess. Finding real numbers has proven really difficult, but good to hear some sources if you have any.
That's what I keep saying for some time now, we need or should have at least 1 billion people saving $1 - $10 daily in #Bitcoin #Bitcoin has already won, but people have not... yet
If the inflation rate would still be calculated correctly with a cost of goods index, that whole damn map would light up in red. Imagine how sad that image would be then. #Bitcoin fixes this
John - FIAT is slave
if things keep going as it's Canada, US, UK and Europe will be added to the list
Nolin has Dangerous Ideas
Thanks for the gut-check. It’s easy get lost in the myopia of your own first world problems. One curious thing: Lebanon is not on this map. Their economy is absolutely collapsing, currency near worthless.
Thanks, I posted a revised version a few tweets below based on additional input. Between when I gathered the data and now, some countries were added by the source (tradingeconomics.com) and some actually removed for unclear reasons.
Very instructive. Here's a similar map I made back in '15. Situation today is significantly worse because the dollar is so much weaker
What is this absurd notion that Bitcoin is some inflation hedge? Says who? How many hyperinflationary periods has it survived? What these countries are facing have nothing to do with fiat, they are mismanaged.
To counter that, why isn't gold acting like an inflation hedge now? I suspect active price suppression by the big end of town.
*Consumer price index (CPI) data. It doesn't show the full inflation. There's more going on. HNWI and companies are also part of the game. I recommend to watch the latest interviews with @saylor regarding inflation.
The tweetstorm goes on, and I encourage everyone to read it all!