Your issue is against using the dollar as the numeraire [1]. Fine, pick gallons of milk, oil, etc. and you'll see that the charts of recent days, when expressed

Your issue is against using the dollar as the numeraire [1]. Fine, pick gallons of milk, oil, etc. and you'll see that the charts of recent days, when expressed in "real" terms and not in nominal/dollar terms, will look THE SAME. At t his stage, dollar inflation and depreciation against other currencies is just measurement error when compared to BTCs fluctuations. The second bit, I didn't entirely got. We can't PEG BTCs price to anything, as its price is market-determined. [1] http://en.wikipedia.org/wiki/Num%C3%A9raire http://en.wikipedia.org/wiki/Num%C3%A9raire