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What I was illustrating is that BTC's price in USD needs to keep up with the dollar's depreciation. Just between the last bull run and now, the actual ATH in terms of purchase power is probably $90k, not the celebrated $70k. So, a "slow crab walk" doesn't cut it. We need escape velocity.

₱ⱤØⱠł₣ł₵ JØł₦₮Ⱬ 1y ago

And what your chart shows is a slow bleed and what I'm saying is a slow walk up as a theory.

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hh 1y ago

I would say a 83% destruction of purchase power in one generation since 1970, and of 95% in two generations since 1935 is anything but a "slow bleed", but OK.

Remember what Satoshi himself said: "I’m sure that in 20 years there will either be very large transaction volume or no volume."