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Hyperinflation in Germany and Austria 100 Years Ago

Thought of the Week by Anita Posch

100 years ago there was a devastating hyper-inflation in Germany and Austria. Prices doubled every year after the first world war between 1914 and 1921. The Austrian currency Krone’ was delivered in washing baskets, people lit their cigarettes with worthless banknotes. Smart people invested their money in tangible assets or moved it into foreign currency.”

One Million CrownOne Million Crown Notgeld PuckingNotgeld Pucking

Antisemitism grew. Banks collapsed, economic scandals were numerous. Villages printed their own Notgeld”. Let’s hope that this doesn’t happen again. It reminded me that my grandparents were born in that time. Living through the Austrian civil-war in 1934 and WWII, which was followed by the Bretton Woods agreement manifesting USA as the global financial hegemon. We are living through the next change.

Bitcoin and Institutions Feb 2021

In this article Bitcoin and Institutions Feb 2021 I describe why THIS is the moment for individuals to front-run corporations acquiring bitcoin.

Quote of the Week

Bitcoin competes with central banks and base money. Liquid Network competes with SWIFT. Lightning Network competes with Visa. - Vortex

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Podcasting 2.0 Interview by Bitcoin Magazine

Inflation in Nigeria Compared to Austria

In Nigeria the inflation rate in 2020 was ~20%. Imagine having 120 Euros or USD at the beginning of the year and at the end of the year your purchasing power is only 96.

Central bankers in our so-called developed world are telling you that the inflation rate is kept at 2% per year. We do not feel that, it’s a slower decay. I took a look at statistical data about inflation in Austria. From 2011 to 2021 you can see that consumer prices increased 19% on average. Everything got more expensive except communication.

Statistic Austria Inflation CalculatorStatistic Austria Inflation Calculator

In the last 10 years we had about the same amount of inflation as Nigeria in 2020. We are all losing purchasing power. In one region faster than in the other, but the system of money creation is flawed everywhere. Source

Retail Investors (Individuals) Not in Yet

In Q1 2018 80% of Coinbase’ trading volume was from retail investors. In Q4 2020 only 36% of trades where from individuals. That’s because, as I mentioned in my article, institutions are flocking in and individuals still do not dare or trust bitcoin enough. We will see, if this picture changes within the next months.

the Global Currency War Is on

Central banks of China and the United Arab Emirates join digital currency project for cross-border payments.

From the United Arab Emirates to the Petrodollar

… and the energy consumption of Bitcoin

Podcast of the Week Audio Only

Which leads to my current podcast interview with Philippe Bekhazi: Bitcoin Mining in Practice

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Up next Anita Posch About Podcasting 2.0 on the Bitcoin Magazine Podcast Bitcoin and Institutions Feb. 2021 Bitcoin was made for individuals to be able to own like property or cash. An individual can hold the keys by themselves and decide what to do with
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