SUPERBITCOINIZATION IS ALREADY HERE

“Normal” inflation is 2% per year.

Or roughly 0.2% per month.

And hyperinflation is 50% per month.

So, we aren’t there yet.

It’s all fine!

But is it?

What if we define something in between?

Call it superinflation.

Say superinflation is 5% per month.

In that case…

BTC has appreciated >20000% vs USD.

Over a ten year period.

That’s a monthly rate of >8.6%.

That means the dollar has devalued against Bitcoin by more than 5% per month on average for ten years.

So: yes, hyperbitcoinization hasn’t hit yet.

But superbitcoinization is already here.

We’ve been living through it.

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Discussion

I'm glad to see you posting on Nostr with us, making our signal even stronger. 💜🤙🏻🫂

Welcome to Nostr, Balaji, we’re all very glad to have you here!!

Start posting The Network State podcast clips on Flare!

https://flare.pub

get yer wallet sorted ser. zaps are waiting

Value of bitcoin in tangible stuff:

10 years ago -- zero

Today -- zero

Certainly stable in some sense.

🤔

As a non-Bitcoiner on nostr, what is your feed like

Lots of fun.

bitcoin is monetizing lineearly, but at soms point it goes hyper.

So why do you like eth?

LFG

Hi Balaji

I want to raise a bet of 100 sats that bitcoin will go to 100k this 2024

Do you think "normal" inflation will remain 2% in the future, or do you see it as an impossible goal and the Central Bankers will probably shift the normality higher (3/4%)?

Come on mate - get that LURL in your profile quick smart! ⚡️ ⚡️ ⚡️

Now to make it legal tender worldwide 🌐 😎

No one is zaping him 🤣

well...he doesn't have an LN address setup.

nevermind we haven't gotten confirmation it is actually him.

Okay, that makes sense

super!

Cool I like how we are superbitcoinizing

🇳🇴🙄

It's a super point of view

#m=image%2Fjpeg&dim=1080x530&blurhash=ZjS%3D3YXmuPrYbuWUV%3Ff%25ogoJkqX8aejEjYkCaya%23pdi_VXW.aKogogjGWng4a1jEkVkWbcaekBj%3F&x=6546a66fc7f55257e75b51774393623c55576af531233db9e010ccaea6f279af

Every one ₿ends the knee.

Glad you're on #NOSTR !!!

Did you lose your bet?

when you talk about inflation ; do you consider assets as part of the basket ? asking cuz that's not a right approach ..

the purpose of currencies is to make sure commodities don't catch the deflationary trend .. I mean if you transacted in assets ( gold or btc) ; the mass manufactured commodities would soon hit the rock bottom. Because commodities are the lowest value per unit .. which means no incentive for producing wheat unless it becomes scarece. you don't want people to fight for food ..

Thus comparing assets to currencies ain't a good idea .. we need to strive for better currencies (eg USD stables) as much as we strive to have sound assets ( eg btc)

Assets and Currencies are two wheels of a cart .. it is efficient to run economy on two wheels rather than just one ! Sound Currencies protect the poor. Sound Assets support the rich . Both are necessary . Keyword here is "sound" - corruption is possible in both .

Even a sound currency ( say USD) is by definition permissioned , censored and without consent. As opposite to a sound asset which is quite the opposite.

Through controls, currencies bring stability to commodity prices .. to allow long term investment in commodities irrespective of demand forecasts. They provide credit and liquidity in market place. And most importantly, they fight deflation. Arbitrary controls allow the issuer of currency to navigate the economy in a desired direction - good or bad depends on the driver .. some currencies will fail sooner .. good will last longer .. but ultimately they too must evolve or die.

Store of value is supposed to protect the wealth for longer horizons .. time scales of thousands of years plus .. eg Gold . It too must evolve but that evolution cycl s in the range of thousands of years . eg Gold is now evolving into digital form BTC .

lol is nostr like a bullpen for bangers?

this is 🔥

soooooo...... 90 more days to 1M BTC?

Interesting. When do you think hyperinflation hits?

Still a good time to accumulate #Bitcoin

The btc/gbp price has risen by over 80% in the last 6 months. Meanwhile the UK has just confirmed it is in recession. The UK fell into a recession after it raised interest rates to above 5% in 2023 in order to tame inflation. However, btc/gbp is one measure of inflation [1] that the UK gov cannot properly tamper with. The cat is out of the bag in other words. With the UK's next election being held no later than 2025 and the elevated cost of borrowing dragging on the economy, the Bank of England will surely turn to lowering interest rates (and QE) to stimulate growth. This will (again) set the fire alarm off that is btc/gbp, which could be set to soar in the 18 months ahead, and for the rest of time. #bitcoin #GBP #UK 🇬🇧

[1] nostr:nevent1qqs86erhle0jxsyg97mmdmt66zucu4pnl340f8rp5r74vj2ltr3uj3cpp4mhxue69uhkummn9ekx7mqzyqm8xtxrtljkrpd0rvg3vz3e84k88g07g8wlzxzvzqu5c2x2t438kqcyqqqqqqgufh2xp

🍿 🍭 👇

nostr:note104j80ljlydqgstahkmkh459e3e2r8lr27jwxrg8a2ey47k8re9rs7jw4c3