your chart has a couple candles, but doesn't address my point that very little volume was transacted at 20k. People aren't going to stop storing value on the Bitcoin network, so I suggest you lighten up
have you read the whitepaper? Bitcoin solved doublespending and is the best implementation of digital cash in a long line of innovation. in a way all monies are pyramid schemes. You don't think maybe you're being naive for dismissing a clear breakthrough?
Sure. If you have a serious amount of savings, the best approach to balance security and practicality is to protect your coins using multisignature, or multisig. https://en.bitcoin.it/wiki/Multisignature
Do you actually think there was a lot of volume for Bitcoin at 20k? A handful of people even bought Bitcoin at the 20k level. It was only trading at prices that high for a few hours
I don't think I ever claimed to have solved any problem, just provided context for Bitcoin as a solution to the Cantillon Effect which is objectively a driving force for wealth inequality.
This isn't opposite, its closer to a root cause than an opposite term. Anyway, supply and demand govern all prices, I wasn't arguing against such basic economic tenants. I'm just pointing to what inflation is and that is an expansion of money supply.
Calling early price discovery leg down for Bitcoin hyperinflation is dishonest at best. Even ironic as hyperinflation occurs when there is a continuing rapid increase in money supply.
If that was hyperinflation, what would you call Bitcoin's 150% leg up between December 2018 and today?
"Inflation, as this term was always used everywhere and especially in this country, means increasing the quantity of money and bank notes in circulation and the quantity of bank deposits subject to check. But people today use the term `inflation' to refer to the phenomenon that is an inevitable consequence of inflation, that is the tendency of all prices and wage rates to rise. The result of this deplorable confusion is that there is no term left to signify the cause of this rise in prices and wages. There is no longer any word available to signify the phenomenon that has been, up to now, called inflation. . . . As you cannot talk about something that has no name, you cannot fight it. Those who pretend to fight inflation are in fact only fighting what is the inevitable consequence of inflation, rising prices. Their ventures are doomed to failure because they do not attack the root of the evil. They try to keep prices low while firmly committed to a policy of increasing the quantity of money that must necessarily make them soar. As long as this terminological confusion is not entirely wiped out, there cannot be any question of stopping inflation." - Ludwig von Mises
Your 60% drop claim is rather vapid considering I could pull any other arbitrary time horizon and give you a massive increase in purchasing power.
wake up. real inflation in the US has been closer to 8%. Look at real estate, equities, gold. you can't see it coming, all fiat ends with hyperinflation
The supply of dollars is a function of the monetary policy. Are you suggesting you can predict what M2 will be in 5 years, or even 6 months? Please share your expectation.
You are pointing to price volatility. The comment is talking about inflation. Price discovery occurs in all markets with varying degrees of volatility. Speculative bubbles, crashes, etc result occur when new information causes price discovery. Its an ongoing process in an ever-changing world. Inflation is specifically price increases from change in the amount of money in a system. The delta in money supply for Bitcoin is entirely predictable and that was the claim