Damn you communicated what I wanted to say a lot better by using a #meme. I wanted to say something similar:
The language needs to be changed from ‘inflation target of x%’ to ‘devaluation target of x%’ or ‘debasement target of x%’. I’m pretty sure people would wake up real quick
#asknostr #bitcoin #econ nostr:note17c7wpf69j3w59aexduxj5lyeajlspr0w74px42qrlk4ngwznm2zs5uyqd3
I get why this might be more persuasive, but it is less accurate.
"Inflation" is an increase in the money supply. That's precisely what's happening.
"Debasement" is when the physical media of exchange are devalued in some way (shaving, mixing, clipping, etc). That doesn't even make sense on a fiat standard.
Both result in rising nominal prices.
Too strict with the definitions and doesn’t solve the problem of noncoiners not understanding it’s a monetary phenomenon. Debasing doesn’t have to be limited to physical media. They’re debasing the monetary density of the unit.
