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0 pointsthehappypm4y ago0 comments

I use the wonderfully stable US dollar.

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The US dollar has lost 99% of its purchasing power since moving off the gold standard in 1933.

Wonderfully stable if you consider $1 in 1933 = $1 in 2021, inflation is hidden taxation and disproportionately affects widows and orphans.

AnimalMuppet4y ago

And bitcoin lost 30% of its value in the last month. So yes, the dollar is in fact wonderfully stable by comparison.

lowkey4y ago

No one is arguing that Bitcoin is stable. I was simply pointing out that the USD is not as stable as you presume on a long-enough timescale. In fact it loses approximately 100% of its purchasing power per century.

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lowkey4y ago

The US dollar has lost 99% of its purchasing power since moving off the gold standard in 1933.

Wonderfully stable if you consider $1 in 1933 = $1 in 2021, inflation is hidden taxation and disproportionately affects widows and orphans.

AnimalMuppet4y ago

And bitcoin lost 30% of its value in the last month. So yes, the dollar is in fact wonderfully stable by comparison.

lowkey4y ago

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