So why did anyone believe this trash was a hedge against inflation?
So why did anyone believe this trash was a hedge against inflation?
Lincoln Nguyen
Tyler Bell
zoom out
Tyler Perry
Sold it all for ADA in March 2020, outperformed BTC by 5x since then, no regrets. Way better hedge against inflation, and harder money.
Samuel Edwards
It is retard.
Bitcoin supply is capped.
You lose money because Bitcoin loses value but you're not suffering from inflation
Grayson Lopez
It used to be until *they* tamed it with the Futures ETFs.
Jason Torres
I told everyone is was stupid to think of it as "a hedge against inflation". It's no more "a hedge against inflation" than a slot machine.
Cameron Bailey
>bitcoin at $10K
>monetary supply doubles
>two years later bitcoin is at $23k
what's the problem faggot
Jacob Butler
It is. It's dropped in USD value because the AI systems that run institutional transactions are dumping assets to get into cash over vague rumors the fed might possibly consider raising the interest rate by some fraction of a present, which the boomer programmers believe will reverse inflation. Give it a year for them to see that we're still in debt out our eyeballs and MMT can never be stopped and therefore the dollar will inflate forever.
William Young
How retarded are you?
Bitcoin itself doesn't suffer from inflation because the supply is capped. We are talking about inflation of the dollar, which is what goods and services are paid for in (or at least eventually transferred to).
Kayden Turner
Despite the meme - a lot of autists are really stupid.
John Nguyen
where was your "taming" when bitcoin rocketed to over 65k in a couple of months? you are just bitching!
Anthony Hill
It was, for the people that cashed out at the top.
Jordan Lewis
they thought just because BTC is capped at 21 million that's enough to magically keep the price hedged against future inflation
when in reality it's just a bunch of random numbers on a glorified spreadsheet
Robert Morales
OP is objectively a sub-moron
bitcoin worked very well with INFLATION
what US money policy makers are doing now is DEFLATION
Nicholas Myers
Because of the memes.
William Garcia
I zoomed out and it looks like it's doing really bad against inflation but did really well when money was being printed.
Justin Anderson
The supply doesn't matter when Bitcoin has zero (0) practical uses
Face it you got scammed and you just need to admit it
Dominic Lopez
It does well with capital market inflation and went on a speculative bullrun. Now, relative to before massively increased QE, it's still doing well, while consumer goods inflation is catching up. If you bought during the bullrun and didn't sell, thank you for playing. Bitcoin is still doing its job (better than gold, even) for long term holders.
Zachary Wood
>Bitcoin supply is capped.
this is just nonsense though isnt it because a bitcoin can be divided into billions of satoshis.
the supply is in effect unlimited.
Joshua Phillips
It still is, it's just that people incorrectly thought the crazy bubble price would stick around forever as usual
Jackson Nguyen
>the supply is in effect unlimited
Not really, unless you had some distribution system initially that split Bitcoin maximally to everyone in the world, the fact that that it is a finite number is very relevant.
Let's say hypothetically Bitcoin becomes the default world currency, now the large markets and players (cartels, financial institutions etc) own most of the world economy, doesn't matter how much satoshis you split into, the total number is still finite so the value of their assets is in 1:1 relationship. With a currency that is not finite, this is not the case.
Angel Hernandez
>an ounce of gold can be divided into 10^26 atoms
>the supply is in effect unlimited
Christian Price
Supply is also capped on my toenails. But that doesn't mean they aren't worthless.