Is that why it is such a huge hit in Venezuela and other high inflation countries? Because poor people are playing into the hands of the powerful and not because it gives them a stable way to store wealth and trade with people in other countries?
Sorry for my tone, but it rubs me raw when people casually discount the plight of the poor with do-gooder polices that make people's lives even harder, all while ignoring actual evidence.
There is this theoretical construct called the world interest rate and it refers to the average real interest rate. Any country whose real interest rate is above the world interest rate will receive capital inflows and any country whose real interest rate is below the world interest rate will have capital outflows.
So the goal is to get as close to the world interest rate as possible or even exceed it slightly.
Therefore if the world interest rate is 2% and you have 8000% inflation per year, the interest rate must be 8002% (oversimplified) so that the real interest rate becomes 2%.
Bitcoin is just another currency and since it is not generating any returns it should closely track the world interest rate like gold does because when you are buying gold or Bitcoin, you are betting that the world economy will continue to exist in the future.
The ability to exchange Venezuelan money is just a way to obtain access to the world interest rate without interference of the government and usually that is a good thing, not because governments shouldn't be trusted with your money, no it's because bad governments can't access it but ultimately you are hoping that your government becomes good again or you move to a different country where the government is less corrupt, because it is a non goal to organize an economy with Bitcoin.
Sorry for my tone, but it rubs me raw when people casually discount the plight of the poor with do-gooder polices that make people's lives even harder, all while ignoring actual evidence.