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"The value isn't stable" Stability here means not volatile. USD is not volatile, nor are the other major currencies of the world. USD moves tiny amounts day to
by afterburner 13y ago
"The value isn't stable"
Stability here means not volatile. USD is not volatile, nor are the other major currencies of the world. USD moves tiny amounts day to day and year to year versus other currencies.
You are of course referring to inflation. But inflation in the US has been a slow, gradual thing. The Fed was created 100 years ago. You might have been able to buy a lot more with $1000 in 1913, but you got paid a lot less. Since your salary, and taxes, and almost all goods, were paid for in USD, it didn't matter if all the numbers crept up together slowly.
To call USD unstable, while defending something like BTC or Dogecoin, seems somewhat ignorant, or at least misleading.
- twobits 13y ago"Since your salary, and taxes, and almost all goods, were paid for in USD, it didn't matter if all the numbers crept up together slowly." The key word is "together". They don't go up together. There is a time differential, with salaries trailing behind. People get constantly negatively affected this way.
- afterburner 13y agoLet me put it this way: they go up together far, far, far more than whatever BTC or Dogecoin is doing. Talking about very normal inflation in order to make make BTC/Dogecoin look bad is just weird. BTC dropped 50% in a day. And it could go up 100% tomorrow. That's volatility. Denying this just comes off as trolling.
- twobits 13y agoI am not arguing for bitcoin or dogecoin. I am arguing against the dollar, and the notion that the dollar isn't backed (just) by force.