[jjk166]

The stock market isn't the economy. Note that stock prices are denominated in dollars. If the dollar price of a stock doubles, but in the same time period the value of the dollar halves, then the stock's value hasn't gone up at all. Compare the price of the Dow Jones to to gold and its value peaked in 1999, and has been nosediving for the past 18 months[0]. The ratio right now is the same as it was in late 2008. Obviously gold isn't a perfect standard candle, but given that inflation has obviously been rampant in recent years, we should obviously treat any economic metric that does not control for inflation with healthy skepticism.

[0] https://www.macrotrends.net/1378/dow-to-gold-ratio-100-year-...

[drstewart]

Cool. Now use the value of a dollar denominated in Bitcoin. Or do you only like cherry picking your statistics?

[shwaj]

I’m as skeptical of fiat currencies as the next guy, but denominating in Bitcoin is the ultimate cherry pick.

The price of everything has crashed in the last 10 years when denominated in Bitcoin. If we measured GDP in Bitcoins, the statistics would show that we’re in an unprecedented depression.

[jjk166]

Pretty sure that would just reinforce my point...

[drstewart]

Great. Do it against the European stock market and really drive home your point. Bitcoin versus the European market, indexed from 2010.