Why doesn't bitcoin have inflation? 🤔
If prices go up in fiat, they go up in bitcoin?
#asknostr
Discussion
Butcoin suffers inflation from exchange jews and miner jews manipulating the market
Always the Jews doin their chit 😂😂
Jeff Booth explains things the best;
Thank you 👍
Simply because more and more fiat is created, meaning more fiat is available over time, relative to things available to purchase.
Bitcoin is deflationary, because less and less Bitcoin is available over time relative to things available to purchase.
Fiat Currency = Stuff/∞ = 0 Value.
Bitcoin = Stuff/21,000,000 = ∞ Value.
As nostr:npub1ck7pm46mpx49rjaqpc93xlc7u8668fnze4un9zjwkvvsrn84820srlqqwqsaid, "Bitcoin has nonstop, because Fiat has no bottom."
But you still have to pay the fiat equivalent in bitcoin to buy stuff? So you'll have to pay more bitcoin in year x+1 as compared to year x 🤔
But you're right, bitcoin will become dearer in fiat terms
Almost everything gets cheaper on a Bitcoin standard. The cost of products and services generally goes down as systems become more efficient over time.
Most people are just used to things becoming more expensive as the currency is gradually debased.
True, efficiency should bring down prices
I think that's what Lyn Alden talks about in her book Broken Money
Bitcoin can have non-monetary based inflation. That is, if something else goes up in price faster than BTC, then it "inflated" in terms of BTC. Cost pull, demand push. Econ textbook stuff.
But it can't inflate from currency debasement. Because BTC can't be printed. It has fixed supply.
If you have $10 and 10 apples, each apple is worth $1.
If you have $50 and 10 apples, each apple is worth $50.
The latter can't happen because of BTC's fixed supply.