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Calling early price discovery leg down for Bitcoin hyperinflation is dishonest at best. Even ironic as hyperinflation occurs when there is a continuing rapid in
by Sschellbach 6y ago
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?
- notahacker 6y agoWhat is dishonest is to argue you have solved the problem of people being impoverished by the unpredictable [actually usually very predictable] downward price movement of the dollar by dismissing all Bitcoin's much larger and much less predictable downward price swings as 'early price discovery'.
- Sschellbach 6y agoI 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.