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It isnt true. Look at the cost of the japanese yen relative to the dollar. I have seen prices double and then half due to international politics. Living here
by wegfawefgawefg 2y ago
It isnt true.
Look at the cost of the japanese yen relative to the dollar.
I have seen prices double and then half due to international politics.
Living here in Japan though, prices seem mostly stable despite the volatile yen. I am not sure how this works.
- crazygringo 2y agoI'm taking about currency value in local purchasing power. And that's what you're observing -- prices are mostly stable. Currency exchange fluctuations only affect imports and exports, and they vary as well between each pair of countries.
- wegfawefgawefg 2y agothats the same with bitcoin
- crazygringo 2y agoI will repeat my other comment: > Just over the past year BTC has gone between $54K and $104K. That's crazy volatility. That is not the same as local currencies. And with Bitcoin there's no such thing as local purchasing power.
- wegfawefgawefg 2y agotheres no local purchasing power only because it isnt used locally like that
- the_gastropod 2y agoVolatility is a measurable thing, though. In 1985, 1 USD was worth 260 JPY. In 2011, 1 USD was worth 76 JPY. In that 40 year history, those are the extreme high/low ends. That's a ~70% swing over the span of 26 years. By comparison, Bitcoin had a 95% swing between September 2024 and December 2024. All volatility is not equal. The degree to which Bitcoin is volatile is unmatched by any government currency I'm aware of.