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0 pointsdragontamer3y ago0 comments

> Have you seen the dollar’s buying power recently?

Yeah, its up like 100% over Bitcoin and like +30% over Euro, Yen, and GBP? In fact, holding Cash/USD has been basically one of the best performing things in my entire portfolio this year (after oil/energy)

Have _you_ seen BTC's buying power recently?

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donatj3y ago

USD is not up. Everything is down. Have you been to a store recently?

dragontamerOP3y ago

USD is hugely up vs Yen and Euro. You buy anything from overseas recently? USD is hugely strong. USD is up vs the stock market, vs the bond market, vs the overseas bond market, vs overseas stocks.

USD is also up vs Bitcoin.

EDIT: Feel free to look at gold, silver, and other 'inflation hedges' while you're at it. The main thing going up is commodities (oil and food), which is certainly important. But there's more to the world than those two things.

nightski3y ago

Inflation is basically the exact definition of the change in USD's value relative to goods & services.

Unless you are arguing we currently don't have any inflation, which would be a tough sell :)

Also this last CPI report oil & gas pulled inflation down whereas just about everything else pulled it up. Food is hot, but a lot of other things are as well including non-commodity service based industries.

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AuryGlenz3y ago

That all depends on the timeframe you’re looking at. The Bitcoin I bought (not nearly enough of) at under $80 is doing a lot better than any cash I still have from around then.

A year or two from now Bitcoin very well might be back above it’s all time high.

dragontamerOP3y ago

When people are complaining about the declining purchasing power of USD, they are mostly talking about since November 2021, because that's when inflation started to really kick in.

Its ironically, also when BTC really began to collapse from its $60,000 high. So it really demonstrates how much the BTC was benefiting from low-interest rate / inflationary policies.

SketchySeaBeast3y ago

> So it really demonstrates how much the BTC was benefiting from low-interest rate / inflationary policies.

It's almost like it's not a hedge at all and just another part of the exact same game as the rest of the market.

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hajile3y ago

Inflation numbers for December of 2021 were 6.8% CPI and 9.6% for wholesale (way higher when you look at goods only rather than services).

CPI was nasty for most of June 2020 to June 2021. It's just that fewer publications were picking up the story yet.

https://www.bls.gov/news.release/archives/cpi_07132021.pdf

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0 comments

donatj3y ago

USD is not up. Everything is down. Have you been to a store recently?

dragontamerOP3y ago

USD is hugely up vs Yen and Euro. You buy anything from overseas recently? USD is hugely strong. USD is up vs the stock market, vs the bond market, vs the overseas bond market, vs overseas stocks.

USD is also up vs Bitcoin.

nightski3y ago

Inflation is basically the exact definition of the change in USD's value relative to goods & services.

Unless you are arguing we currently don't have any inflation, which would be a tough sell :)

1 more reply

AuryGlenz3y ago

That all depends on the timeframe you’re looking at. The Bitcoin I bought (not nearly enough of) at under $80 is doing a lot better than any cash I still have from around then.

A year or two from now Bitcoin very well might be back above it’s all time high.

dragontamerOP3y ago

When people are complaining about the declining purchasing power of USD, they are mostly talking about since November 2021, because that's when inflation started to really kick in.

Its ironically, also when BTC really began to collapse from its $60,000 high. So it really demonstrates how much the BTC was benefiting from low-interest rate / inflationary policies.

SketchySeaBeast3y ago

> So it really demonstrates how much the BTC was benefiting from low-interest rate / inflationary policies.

It's almost like it's not a hedge at all and just another part of the exact same game as the rest of the market.

1 more reply

hajile3y ago

Inflation numbers for December of 2021 were 6.8% CPI and 9.6% for wholesale (way higher when you look at goods only rather than services).

CPI was nasty for most of June 2020 to June 2021. It's just that fewer publications were picking up the story yet.

https://www.bls.gov/news.release/archives/cpi_07132021.pdf

j / k navigate · click thread line to collapse