Nostr Web Client

less 1y ago

My favorite page on the StLouisFed .org (FRED) site:

"Buying eggs with bitcoins."

OVER THE PAST FIVE YEARS...

From November 2019 through November 2024, the price of a dozen eggs:

- In US dollars: Increased ⬆️ +159%, from $1.41 to $3.65.

- In #bitcoin: Decreased ⬇️ -52%, from 8,694 sats to 4,170 sats.

Would you prefer:

- Groceries to be 2.5x more expensive for you and your family?

- Or half as much over the past five years?

This is not a trick question.

CONCLUSION: Life gets constantly more expensive the longer you save in dollars (or any government fiat currency), while it generally gets (much) cheaper the longer you save in #bitcoin.

Inflationary fiat currency versus neutral inelastic energy money...

The choice is yours.

Source: https://fredblog.stlouisfed.org/2022/06/buying-eggs-with-bitcoins/

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Discussion

cuban 1y ago

I didn't know that existed until you linked it on Twitter back in the day. Amazing that Bitcoin is winning on the Feds website

Cincy 1y ago

I don’t measure my long term BTC price target in USD anymore.

My long term price target is 3 sats per dozen eggs 😃

Evan 1y ago

That chart's a nice reminder that we're winning and it feels good. Here's a Santa hat to celebrate, Doc, if you feel so inclined.

less 1y ago

Nice… thanks Evan!

li'l miss strange 1y ago

I've been keeping an eye on the price of loaf of bread! On Sept, 27 (last) I would have paid 5.100 sats for it. Today, that same loaf of bread would cost me 2.639 sats.

less 1y ago

Love it. 🤝