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Sorry bitcoin economists, this is looking like deflation, not inflation. https://twitter.com/markets/status/1266348603574038530
For years bitcoiners were predicting hyperinflation & USD dropping in value if the Fed printed a lot of money.
Well, here we are with the USD have risen in value and looming deflation. They were wrong. The economy is more complicated than Bitcoin "limited supply money BRRRRR".
Well, here we are with the USD have risen in value and looming deflation. They were wrong. The economy is more complicated than Bitcoin "limited supply money BRRRRR".
Bitcoiners were also predicting hyperbitcoinization, or at least the price of BTC would shoot up in value if Fed printed a lot of money. That hasn't happened either.
At some future date both could happen. But an extended timeline after $ printing wasn't what was predicted.
At some future date both could happen. But an extended timeline after $ printing wasn't what was predicted.
The economy is complicated. The factors that determine the value of currencies, many.
Memes are funny, but exercise extreme skepticism of the simplistic explanations and predictions you see all the time in Bitcoin or you'll get rekt.
Memes are funny, but exercise extreme skepticism of the simplistic explanations and predictions you see all the time in Bitcoin or you'll get rekt.
On a long enough timeline, all predictions about money and the economy come true.
I'm not saying inflation, drop in the price of USD or increase in price of bitcoin won't happen. They will.
The point is that people who predicted these three events would occur axiomatically or immediately because limited supply of BTC vs increased supply of USD were wrong.
The point is that people who predicted these three events would occur axiomatically or immediately because limited supply of BTC vs increased supply of USD were wrong.
