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by MintPattern
3119 days ago
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> The asset that is not stable is the fiat currency because it's being depreciated all the time. Checking accounts (M1) have grown by (only) 8%/year over the past 2 years. Savings accounts (M2) have grown by (only) 6%/year over the past 2 years. Physical cash in circulation has grown by (only) 5%/year over the past 2 years. Even if we value bitcoin today only by it's future 0% emission rate starting at around the year 2036, bitcoin shouldn't have been rising more than 7 or 8% per year relative to the US Dollar. Anymore is unlikely to be sustainable. Am I missing anything? Citation: https://www.federalreserve.gov/releases/h6/current/default.h... |
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