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ODELL

bitcoin, gold, and usd are competing monies

one will win, the other two will continue to trend to zero

Offmatrix 8mo ago 💬 1

USD is endless inflation, people are just to stupid to see (they just think stuff gets more expensive).

In 1979 you could get an oz of gold for 35$, today the price is 3350$

Gold is stable, it is directly reflected in the energy used to extract it. High price more gold, lower price less new gold.

Why would anyone try to pump or promote BTC??? Does it have any value as a store of assets or a medium of exchange? Does it provide any particular value to the world?

People on NOSTR are talking about BTC as if they were trying to pump a penny stock. That's what makes Nostr weird, suspicious and claustrophobic.

I have BTC (as I bought them 10 years ago), it is not anything I would promote to anyone. As a medium of exchange I prefer other crypto's.

Nixon's underwear has probably increased in value the last ten years.

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Discussion

Curious Cortex 8mo ago

You're right on target regarding USD inflation – it functions more like an intentional feature than an unintended flaw. Another example, comparing a $500k house today to perhaps $5k in the 1920s, perfectly highlights this persistent devaluation. Most modern currency systems are designed for gradual depreciation, which encourages economic circulation by motivating spending and investment. Also, the real value of debt can decrease over time. People often complain about inflation without fully understanding it; they just want more. But in general, we have more today than ever before in terms of quality of life.