FUD 2011-2024: Bitcoin's price is very volatile and fluctuates too much.
FIAT 2024: Hold my beer.
Discussion
I don't think that's inflation, man.
Raising prices on a good as demand increases against a fixed supply (during a busy rush ) is kind of the opposite effect.
I agree. This just like ‘surge’ pricing with Uber, etc.
People flipped when Wendy’s was about to do this several months back, but it makes all the sense in the world. If a burger is $5 from 11-1 & 4-6, but $4 outside those hours, some percent of people will adjust when they consume.
My business offers sales and discounts in our slow season.
Yea. a normal mechanism in the free market.
I don't think a free market is possible with a central bank-controlled monetary policy. Central Banks create commie money.
Well I don't disagree there.
I'm just saying that people have a degree of "free market like" latitude even within this fake free market. And adjusting (fiat) prices up an down with demand (and not entirely based on fiat money supply) is one of those moves
Fair argument, but it made me think of Wences Casares. He said he remembered seeing clerks change the grocery prices all day long while Argentina was experiencing hyperinflation.
It's my favorite podcast of all time, so for the record, I'm totally biased.
https://www.econtalk.org/wences-casares-on-bitcoin-and-xapo/
I guess I mean, this technology is a a game theory optimal solution for grocery stores located in countries experiencing hyperinflation. Maybe that's a better way to put it. It's probably nothing.
Don't know what it is bru. I just liked the analogy. Used to stock shelves manually in HS over 4 decades ago and the vid struck me as an interesting change.
Looks like the grocery stores are preparing for hyperinflation. 😕
Nothing new. We've been seeing this at the gas station for many years. Nevertheless, it's sad that it has now reached the supermarket.
yes the typical gas station price sign looks like the US debt clock on any given day.
