Bitcoin is an asset, and like other assets could be used as an investment, this is the best way I like people to view Bitcoin, not as a hedge/counter against inflation, or else it might break the heart of many during the bearish season.

Economists have now started adding the clause that asset has their gaining moments and losing moments as well, and at times, when the investor needs the money might be the bearish times, so the gain is not guaranteed. Imagine those who purchased Bitcoin with this inflation-countering mentality in 2021 and needed the money for a crucial project this year. Their lot is obvious even without saying further as they might have lost half of their money by now.

The inflation peg mentality might work in the long term (even though we're still all hoping, there is no guarantee), we should learn how to manage our risks in Bitcoin, people also lose via it.

Having that high adoption rate, this also makes it more of Bitcoin as an asset or a store of value that we're having. That's the main reason why many of us are holding it and that's for investing purposes although it doesn't ignore the use case of it for being payment and that's why Bitcoin is amazing. Whether you use it as a store of value or for payment, that's how flexible Bitcoin is.

It's because Bitcoin has a limited supply and described as a deflationary asset. In general, whether you own bitcoin or not, we have to beat inflation in any ways that we can. Extend your investments in other assets and have more source of income.

Is Bitcoin currently being used more for transactions than speculation? I don't think so. To date, there are still many speculators who are primarily interested in capitalizing on Bitcoin's inherent volatility. This fluctuation in price is eagerly anticipated to yield profits for those who invest in Bitcoin.

Nevertheless, I still come across its primary function as a means of payment. Not in abundance, but it serves as a simpler alternative to traditional bank payments.

Bitcoin is mostly associated to the dollar, if the price of bitcoin increases, you don't look at it in your local currency because you immediately look at it's value in dollar and local currency is mostly pegged to dollar and it's the likely currency that you want to have if you want to grow what you own in local currency so I think in a way, bitcoin is a hedge to inflation although it's not a good idea to use it when you're trying to solve inflation on a nation scale, pretty sure that only few people are going to benefit from doing that thing so steer clear.

In regards to how bitcoin can solve inflation in a third-world country, I think that bitcoin wouldn't make any difference or significant change to that problem because most third-world country that's experiencing high and uncontrollable inflation are countries that have incompetent leaders and officials, if you root out corruption and place competent and smart people on the important seats in the government, you can easily see changes but given that not a lot of people has done this in these countries, I am not entirely that purging the corruption might be the solution.

"Countries" can not do that, individuals may.
On bigger scales bitcoin can not help much both because it still has a small market and also its price is too volatile. For example Turkey as a country with huge inflation (80%+) and a negative foreign reserve that is in tens of billions of dollars needs to print a billion dollar a day these days to cover the expenses. Nobody can make that much profit from bitcoin to help do that!

It's really risky for third world countries to hedge against inflation through Bitcoin, it's better to invest in gold where the volatility is less than Bitcoin.

Bitcoin is really good to hedge against inflation when we're talk about individuals people who've make some good amount of money. Trading isn't easy, better to increase your salary rather than think you will make side income through trading.

Name one!


Name a second one!

We're still stuck on having this kind of topics and people really don't realize how complicated the situation is and why a country facing inflation and devaluation can't find refuge in Bitcoin!

There are two situations:
- the individual, he uses his money he buys Bitcoin he has now put a bit of his wealth in safety against inflation and devaluation
- the country, far more complicated as poor country that face inflation also faces devaluation of their currency. Buying bitcoin at a large scale won't solve the problem it will actually make it worse!!!
Why? Simple, the Weimar Republic!
The country would have to spend its own currency on buying hard currency in this case Bitcoin, but nobody wants crap coins like Argentinian pesos or Russian rubles or iranian rials, so by them trying to buy Bitcoin they devaluate furthermore their crappy curency, so ending worse and worse and making inflation also worse.

Bitcoin won't save a country, gold didn't save countries in economic peril in thousands of years of gold standard, so neither will a bunch of code that wasn't really designed for that.

Now if you don't believe the theory how about this:

Over 50% of Turkey’s Population Invests In Crypto
https://beincrypto.com/turkey-crypto-adoption-bitcoin-dominates/
vs

You have half of the population investing in crypto and you still have one of the highest inflation in the world, so how exactly did buying crypto help the country?

Bitcoin does not aid anyone or any country because the times for faucets with good value is no longer there. If you or a nation want to have Bitcoin, use your money to buy it. So aiding is not relevant term to use here.

It is not different too much than bank transfer or VISA transfer, Paypal, etc. You can do it similarly like with Bitcoin but you forgot most important technical strength of Bitcoin transaction, no censorship, no charge back and its network is strongly decentralized, hardly to be attacked and roll back the blockchain.

Bitcoin is a good option for underbanked, unbanked people. If they are unable to access services from banks, they can use Bitcoin blockchain.

How many Bitcoin confirmations is enough?

Individually, you can get rich with Bitcoin and it is more easily to make your investment decision. It is personal decision and personal taste to accept risk to chase profit and wealth.

Nationally, it's harder to accept Bitcoin because of volatility and even a nation accept it, it won't make that nation richer. Many things in society must be changed by many sectors and initiatives. Only Bitcoin can not solve all those things, never can do that.

How accurate is the information that op presents? I mean, it makes sense that countries with small economies (I'm phrasing it this way because the term 'third world' doesn't really apply to today's political and economic climate) would use Bitcoin more to escape the downfalls of their fiat and local economies.
There are different lists of countries by Bitcoin adoption, but I'll rely on the most recent one, which seems reputable to me.
Here's a list from most (by percentage of the total population) to least, a top-10:
1. Vietnam
2. Ukraine
3. USA
4. Thailand
5. India
6. Brazil
7. Pakistan
8. Russia
9. Philippines
10. Nigeria
India, Brazil, & the USA have very high GDP. Russia, Vietnam, Nigeria, Pakistan, Thailand, and the Philippines are middle-tier. Ukraine is significantly lower. So it doesn't really seem that it's poor developing countries using Bitcoin, there are clearly countries with strong, medium, and pretty low-level economies there.