4 ms·

Inflation is bad. Hyperinflation is worse. Reported CPI does not reflect actual inflation. One just needs to look at asset prices, stock prices, etc to see wha

Inflation is bad. Hyperinflation is worse. Reported CPI does not reflect actual inflation. One just needs to look at asset prices, stock prices, etc to see what is happening. You and everyone else is being robbed, every day, and it gets worse... I strongly suggest you look into why people would want "censorship resistant, decentralized, non-state, peer to peer currencies". The existing financial system doesn't make sense. Stores of value outside the reach of the state is highly desirable. The ability to transmit value, trustlessly, anywhere on the planet via a communication channel is a breakthrough technology. Who wants inflating, dirty, war promoting, state based fiat, when they can have deflating, clean, peace promoting, non-state based cryptocurrency?

m-p-3 5y ago
Actually a low and predictable rate of inflation is good for the economy. https://www.bankofcanada.ca/2020/08/understanding-inflation/ https://www.bankofcanada.ca/2020/08/understanding-inflation/
- inter_netuser 5y ago
  What else would you expect a bank with an inflation mandate to say? "sorry we are criminals, but it's for the best"? You could try to pick a source that's at least not entirely biased.
jazzyjackson 5y ago
Inflation is a pressure to spend, people with something to sell enjoy this benefit, everything in moderation.
scottcodie 5y ago
I want a stable currency that is easy and cheap to transact. All that other stuff is just idealism.
- inter_netuser 5y ago
  Do you have any investments in bonds?
  - scottcodie 5y ago
    Yes
    - rfd4sgmk8u 5y ago
      This is not financial advice, but get out of bonds. They are bleeding value. The coupon is not even meeting inflation. Its a bad asset. I feel very sorry for folks that are relying on this for income, retirees, etc. The next thing you read about will be the $100T in the bond market trying to find exits to something that has any kind of return to outpace inflation. Maybe that will be Bitcoin, an asset that has grown >100% per year for the last 10 years.
      - scottcodie 5y ago
        Over the past 3 years, my corporate bonds have outpaced inflation and only saw a 5% drop in price when the stock market crashed. Pretty good if you ask me. Society isn't going to abandon the idea of loaning people money to speculate in bitcoin any time soon. There is just no economic intuition to believe that bitcoin will continue to increase other than speculation.
scottcodie 5y ago
I'll take inflation over wild volatility any day

m-p-3 5y ago

Actually a low and predictable rate of inflation is good for the economy. https://www.bankofcanada.ca/2020/08/understanding-inflation/ https://www.bankofcanada.ca/2020/08/understanding-inflation/

inter_netuser 5y ago
What else would you expect a bank with an inflation mandate to say? "sorry we are criminals, but it's for the best"? You could try to pick a source that's at least not entirely biased.

jazzyjackson 5y ago

Inflation is a pressure to spend, people with something to sell enjoy this benefit, everything in moderation.

scottcodie 5y ago

I want a stable currency that is easy and cheap to transact. All that other stuff is just idealism.

inter_netuser 5y ago
Do you have any investments in bonds?
- scottcodie 5y ago
  Yes
  - rfd4sgmk8u 5y ago
    This is not financial advice, but get out of bonds. They are bleeding value. The coupon is not even meeting inflation. Its a bad asset. I feel very sorry for folks that are relying on this for income, retirees, etc. The next thing you read about will be the $100T in the bond market trying to find exits to something that has any kind of return to outpace inflation. Maybe that will be Bitcoin, an asset that has grown >100% per year for the last 10 years.
    - scottcodie 5y ago
      Over the past 3 years, my corporate bonds have outpaced inflation and only saw a 5% drop in price when the stock market crashed. Pretty good if you ask me. Society isn't going to abandon the idea of loaning people money to speculate in bitcoin any time soon. There is just no economic intuition to believe that bitcoin will continue to increase other than speculation.

scottcodie 5y ago

I'll take inflation over wild volatility any day