“What Does Bitcoin Do?” The answer to the question came from Reddit


A user on Reddit finally realized what benefit Bitcoin is for people.

A user named DestructorEFX on Reddit shared a bit about Bitcoin a few hours ago. This user in Brazil bought Bitcoin with 1000 Brazilian Reais, while the price of Bitcoin was 7 thousand 100 dollars. The dollar equivalent of this amounted to almost 250 dollars at that time.

After this person bought 1000 reall Bitcoin, the price of BTC increased from $ 7 thousand to $ 9 thousand 700. This indicates an almost 36% increase in Bitcoin price. DestructorEFX also looked at this rate and thought that its investment gained 36%. So he thought he would deposit 1000 Brazilian Reais in Bitcoin and buy 1360 Brazilian Reais.

It didn’t take long for DestructorEFX to experience enlightenment. Bitcoin price gained 36% value, but this was Bitcoin’s value in dollars. And the Brazilian Real; After he bought Bitcoin, he continued to depreciate against the dollar.

The $ 250 Bitcoin bought by this Reddit user now earned him more than 36% on Brazilian Real basis. According to the information he shared, when he received Bitcoin, 1 Bitcoin corresponded to 29 thousand 350 Brazilian Reais. But as the price of Bitcoin increased and depreciated against the real dollar, the price of 1 Bitcoin increased to 55,500 reales. This meant that the 1000 realities deposited by DestructorEFX were 1900 real, not 1360 real. DestructorEFX interprets this enlightenment as follows:

“I now understand why people in countries with constant currency depreciation are getting Bitcoin. In this way, they protect themselves from inflation! I noticed that the halving recently also had a deflation effect on Bitcoin. While the supply of Bitcoin decreases day by day, the demand remains the same, so the price increases. ”


Please enter your comment!
Please enter your name here