Your understanding of terms seems pretty warped so it makes this discussion very confusing and unproductive. Nobody said Bitcoin never changes in price/value. I don't know about @Space Ghost but I consider inflation to be the increase in currency (fiat) supply, and nothing else.
For number one, I agree it was 'Pandemic Era Inflation', and the factors your listed did contribute to a transitory spike. Yellen was right? The bigger factor was the massive helicopter drop of free money from Cares I/II, PPP, and other direct stimulus under trump/biden that increased the money supply by 40% from 2020-2023. On the monetary side, the Fed ran near zero interest rates and stimulated mortgage origination demand (purchases, refis, helocs for renos) with QE. Forebearance and SNAP for the poors. Checks for the poors and wealthy. QE mostly for the wealthy... I doubt the Inflation Reduction Act tamed any sort of inflation when it is hundreds of billions worth of more government spending with America First riders, but I didnt find any studies measuring it's impact on inflation. Most of the credit seems to be on the monetary side where the fed raised rates from near zero to 5ish percent and started Quantitative Tightening. I'm not saying Biden 100% Bad. He had his D&D reasons, but finding good facts from a google search has definitely been screwy, and I blame their enablers for it. For number two (heh), if you're a Jeff Snyder viewer like @Space Ghost, the eurodollar system is a rabbit hole that explains 1971. Chatbot
When speaking of inflation in a topic (just like almost all topics), its important to speak in nuance. I generally view inflation (in USD terms) through fiscal and monetary policies. if we are speaking about goods and services, we use the supply/demand model. If we speak of real estate, its a combination of scarcity and monetary policy. There is only one manner of inflation when it comes to bitcoin - and that is the halving every 210,000 blocks.
And yet you are wasting your time responding to me...... I'm perfectly content debating what the actual purpose of BTC. But thanks for thinking about me.... I wouldn't say I ever think about you.
But BTC wouldn't exist without fiat.... it's built on top of fiat..... without fiat you wouldn't be able to transact with your BTC profits. Yet you think it doesn't take on the properties of fiat because of it's finite supply?
Kudos to those who live the f*ck b****es get money way of BTC. Just hope you bought low and sold high.
Probably because you keep insisting BTC is all these different things throughout the length of this thread. The last ever currency mankind will need.... the greatest store of value in history..... BTC is based around fiat so it would naturally take on some of the properties and effects. I believe @Space Ghost is more correct from an economic POV. You seem to hold this belief in rigidity and scarcity so you can't really accept inflation to be influenced outside of currency supply. I think we have plenty of history to suggest rigidity has it's own set of pros and cons.
You are correct - If fiat did not exist, we would not need bitcoin, therefore bitcoin would not exists. Value only exists because we all agree on a price. A $1 bill has absolutely no intrinsic value. Go read up on Greshams Law
And why we all agree on a price matters. Not surprising you would invoke someone who agrees with your type of "good money".
What do you mean my type of good money? I have lots of good types of money - Im not selling my stocks just to have cash. That is completely stupid. Same with my Bitcoin. And the equity in my house.
It will become the last currency once the layers on top of it mature, much like the credit system and payment networks we have now for fiat. It's already the greatest store of value in history. The worst 4 year period in Bitcoin gets you an AAR of 26%. No other asset can even come close to saying that. It isn't "based around fiat" (what you even mean by this is mostly a mystery, as are many of your statements lately), it's priced in fiat. The value of the dollar is constantly changing relative to Bitcoin, which is fixed. We've never had a truly fixed supply asset whose issuance/creation rate isn't responsive to demand, so, please tell me the "cons" you think you know of.
The IFA was fully paid for by a minimum tax of 15% on all large corporations. The CBO actually said IFA paid down the deficit as it was paid for. You're sincerely one of the dumbest people on these forums
^^ dude hasn't posted in this thread since 2017 but saw somebody throwing shade at Biden and jumped into action lmao
It's bizarre since I didn't bring up the deficit. Thoughts and payers for Denmark's bestest mental healthcare system. Anyone know if it's a crime for employers to fire folks with tourettes syndrome?
