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0 pointssolosoyokaze5y ago0 comments

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.

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UncleMeat5y ago

That's obviously false, given that the price of steak is not up ten million fold or whatever over the last decade.

solosoyokazeOP5y ago

Housing, health care and education are all massively inflated. The price of steak isn't a major expense in comparison.

chillacy5y ago

Inflation 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”

UncleMeat5y ago

Even if inflation literally only tracked those things, it is still many orders of magnitude off BTC's growth.

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UncleMeat5y ago

That's obviously false, given that the price of steak is not up ten million fold or whatever over the last decade.

solosoyokazeOP5y ago

Housing, health care and education are all massively inflated. The price of steak isn't a major expense in comparison.

chillacy5y ago

UncleMeat5y ago

Even if inflation literally only tracked those things, it is still many orders of magnitude off BTC's growth.

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