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32 sats \ 0 replies \ @holonite 3 May \ on: Is it weird that people don't revolt (generally) during hyperinflation? AskSN
Why, did you forget the 100,000,000,000 Mark Banknote of germany during the Nazi times (WW1)? In November 1923, a kilogram of rye bread in Berlin cost 233 billion marks, a kilo of beef 4.8 trillion marks. The hyperinflation in the Weimar Republic in 1922–23 that impoverished millions of German citizens and paved the way for the rise of the Nazi Party, but the people did not stir up much riot.
Money is supposed to be intangible, thus hyperinflation or not, people are always exchanging the old money for the new value from the banks. This scenario happened in India here too some 10 years back when the 2000 Rupee note was declared void. Not many protests occured because we could still exchange our currently available notes. Those who were ignorant of the rules were affected most.
That's why support DEXs and Bitcoin not CEXs