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> Bitcoin and cryptos in general are actually worth more than $0 because people are tired of seeing their cash devalued on the whim of politicians and bankers.
by junippor 6y ago
> Bitcoin and cryptos in general are actually worth more than $0 because people are tired of seeing their cash devalued on the whim of politicians and bankers.
How do you justify this, given that inflation is so low? (at least in the EU it's been oscillating between 0 and 2% for a very long time)
https://tradingeconomics.com/euro-area/inflation-cpi https://tradingeconomics.com/euro-area/inflation-cpi
Is this what people are so tired of? 1% inflation? I'm just trying to understand whether you're parroting "libertarian" talking points, or whether you know something I don't.
- mpfundstein 6y agoinflation in common goods. lets talk about the housing market. or even proper biological food. don't see any inflation there.
- nprateem 6y agoPeople thought all the QE during the financial crisis would cause inflation. It has and it hasn't. It has because you just need to look at how asset prices (stocks, houses, etc.) have increased. It hasn't because conveniently many governments don't include asset prices in their calculations of inflation. So although food prices for example haven't shot up and officially rates of inflation have remained low, asset prices have shot up.
- rybosworld 6y agoIt's an open secret that inflation is purposefully miscalculated. As another commenter notes, CPI leaves out many of the most major expenses, e.g. housing. There are estimates as high as 8% annually when you account for everything.
- junippor 6y agoIs there a specific estimate/study that you'd wanna suggest to me? I've heard these claims but I've never taken the time to read the research myself, and I'm feeling like it now :-) Thanks in advance.