I'm so extremely happy I got into crypto!
So that's out! And what a statement, huh? But trust me, it seriously comes from the bottom of my heart. Crypto is volatile yes, that is a risk. But doing nothing, and seeing how quickly the euros in my bank account decrease in value, is perhaps an even greater risk at the moment.
The Netherlands is dealing with record inflation
For everyone who thinks that life in the Netherlands is still so good, I'm afraid I'm going to help you out of a dream. And yes, for enough people, life in the Netherlands will indeed still be good enough. The fact is, however, that the Netherlands is currently dealing with record inflation.
A small graph of inflation over the last 12 months clearly shows this. And this chart is from January 2021 to December 2021, but January 2022 is doing even better with a percentage above 6%.
Chart inflation Netherlands 2021
What does that look like? Amazing, right?
It threatens to hit many people hard
You can say that the Netherlands suffers a bit from inflation, and then I think that in the second month of this year I already made THE understatement of the year. In other words, inflation threatens to hit many people very hard in their wallets. Because yes, that is of course the case with inflation.
All living costs rise, but your income does not rise with it! So the euros that you get in your bank account are worth less with the month that goes by. You can now say, 1 euro is still 1 euro. Yes, that is certainly true. 1 euro will always be 1 euro. But what you bought 10 years ago for 1 euro, the same now costs you 5 euros, so to speak. And therein lies the problem. You can do less and less with the same amount of euros!
Salaries do not increase
And of course the salaries of most people do not or hardly increase with inflation, and if a salary does increase, we are certainly not talking about an increase of more than 6% per month! So we can conclude with a probability bordering on certainty that more and more people in the Netherlands are currently getting into trouble. Because if you look at this chart then inflation is in the euro, but if you look at the consequences of that. Then this percentage is much higher.
The shopkeepers have to pay more to buy their goods, they really do pass this on to their customers. Energy prices have risen, which is of course passed on to customers. And these are only 2 things, of the many that private individuals are currently encountering.
People are puzzling to make ends meet
In short, your bank account runs out much faster, and people have to puzzle to get by with their money. Saving is often no longer possible and more and more people are in danger of getting into serious financial problems.
So why am I so happy that I got into crypto?
As I said, crypto is volatile, yes. But this has 2 sides. The fact that it is volatile also presents opportunities. In addition, there are many projects to build up a passive income. Like LBI, SPI, INDEX, ARCHON, DHEDGE, and outside the Hive Chain, you also have many projects that let you build a passive income stream.
Try to do that with your euros or dollars these days. In crypto there are options that pay you 1% or even 3% per day. If you can also let the effect of compounding interest kick in, then you understand that you have found something that you have to be careful with.
And yes, of course you have to deal with the volatility with crypto, the prices are not stable. Take Hive or Leo as an example, the price is not the same for 24 hours. 1 euro is 1 euro today, and will be 1 euro tomorrow. But where Hive and Leo have the opportunity to rise, the opportunity for the euro is not so great. And with the growing inflation, which they don't seem to do much about as yet! I'm very happy that I can create opportunities within, and thanks to, the crypto.
To create a better life for me, my partner and our dogs that would not be possible without crypto.
Posted Using LeoFinance Beta
Yes, inflation everywhere!!!
Aren't we glad we have crypto!
The inflation we´re seeing now is insane, and yes, Thank God for crypto!
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You speak true, buddy. Inflation is hitting everywhere, it seems, even in Japan. Thank god for crypto! Keep doing what you're doing!
!PIZZA
Inflation is hitting the whole world, it´s unreal at the moment. And still, many people refuse to see that the current fiat system is set to fail. I will defo keep doing what I am doing. Thanks for the Pizza.
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The reason is good to invest in Crypto currency or you learn how to trade Crypto currency or you join hive community is when their is inflation, you Stand it.
Posted Using LeoFinance Beta
When you learn how to ride the crypto waves, it will give opportunities that are lost in the fiat system because of inflation. So good for us that we understand this. Hive on! :D
K
Posted Using LeoFinance Beta
In the US “they” say it’s around 7.6%. But I’ve heard it’s more like double that. You gotta look at who is crunching the numbers… 😉. So much for my 5% pay raise last year and the 3% pay raise the next 2 years.
Keep stacking that crypto!!
For the last 5 years I have maintained a sizeable emergency cash reserve of $CAD, now with Inflation peaking over 15% I am forced to spend it on down into assets. Upgrading appliances, gold & silver, even Long termed shelf life foods. I have kept the last 7 years of Grocery receipts to make the case. Auto fuel is now peaked to all time highs too, fueling more inflation to come. BTW I own an EV Leaf auto.
Posted Using LeoFinance Beta
What about electricity prices in Canada? They are also at an all-time high here in the Netherlands. Just like gasoline. Unfortunately, we don't have any options at the moment to buy an electric car. With the record inflations, of which the official figures say above 6%, you can be sure that the reality will be many times higher. Which can also easily add up to the same 15% that you experience in Canada, we are happy that we can still have the small car we have at all. No options to set aside extra money. Upgrading the long termed shelf foods is something I do too.
We have agreed to save the crypto for as long as possible, because that offers extra options for the long term. And I don't see those possibilities emerging so quickly in the traditional 'fiat world'.
Nominally about $0.15 CAD per KWH the true cost is more $0.22 CAD factoring in the distribution fees and various layers of taxes and fixed costs that hide the actual cost per KWH. It may be relatively cheap but the hydroelectric infrastructure is getting old.
The average price per kWh in the Netherlands is currently 22 euro cents, (double that of Canada), and I have not yet included all surcharges and levies that come on top of that. Nominal costs alone have increased unbelievably. We don't use gas for heating ourselves (which is our choice to save costs), but I hear from everyone who does need it that those costs are even worse.
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This is exactly why we have Bitcoin and crypto.
!HBIT