Yes... It does. That's what you're not getting. "Fixed" is a third state. It's not inflating, not deflating. The statement of 1=1 just demonstrates the supply does not change. It doesn't matter how many are circulating/not circulating. Coins only circulate when people use them to buy stuff. If I have a coin, I own 1/21,000,000 of supply. Now and forever. If you own 1XMR now how much of the percentage of XMR supply do you own in 115 years? Your holdings dilute, mine do not. I can't argue anymore. It's basic math and econ. You're missing the forest for the trees.