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Well one way to look at it is Bitcoin is up against USD because USD is suffering massive inflation. Thus, BTC is doing its job.
by solosoyokaze 6y ago
Well one way to look at it is Bitcoin is up against USD because USD is suffering massive inflation. Thus, BTC is doing its job.
- UncleMeat 6y agoThat's obviously false, given that the price of steak is not up ten million fold or whatever over the last decade.
- solosoyokaze 6y agoHousing, health care and education are all massively inflated. The price of steak isn't a major expense in comparison.
- UncleMeat 6y agoEven if inflation literally only tracked those things, it is still many orders of magnitude off BTC's growth.
- solosoyokaze 6y agoPeople can follow the trend and see where it's going.
- chillacy 6y agoInflation as measured by the fed tracks a basket of stuff more like steak than housing. I’ve seen people instead measure how USD tracks against BTC though, which then does become tautologically correct that USD suffers massive “inflation”