That's right. And we are still used to getting robbed blind by it. Even after grokking bitcoin!
Thanks! The issue with M2 is that there is no real data. No-one knows or can know how much the real currency supply is. It's even better to use Big Mac index, although that suffers from shrinkflation. I still think gold is the only measuring stick that makes sense.
Sorry π I just find it ironic that many bitcoiners have a blind spot on inflation when it comes to the ATH.
Totally agree! I am just pointing out that if you are going to measure the purchasing power of absolutely scarce money, you better do it in hard money with 5000 years of Lindy effect at least π
Unit of account has nothing to do with what bitcoin is or is not backed by. I am only pointing out the irony of measuring hard money purchasing power in soft money ibstead of another hard money.
You can get 28.6 ounces of $gold with a bitcoin right now ($btc price 76189$). The #bitcoin #ATH was in November 2021, when you could get a whopping 37 ounces of gold with a single bitcoin. So today's price is about 77% off the ATH, meaning we need to see 98946$ to meaningfully speak of ATH.
A friendly reminder that we are still far away from the #bitcoin 2021 ATH. 
Itβs November 5th and people on X & #nostr are mostly talking about political celebs and their hollow promises. If you vote for a βless evilβ violence monopoly, do me a favor and block/unfollow/mute me now. β€οΈ
Why do I still see posts from accounts I muted? What happened to the tormtal control of my feed. At least on X muting and blocking works. #nostr #larp
Oh, I see. Itβs the same but maybe less crucial than money. Then again, given WOT value and the fact that social media may be your primary business, it may be even more severe for some. The point stands: custodians will remain popular.
I wake up, there is another psyop the bitcoiners have fell for. Now itβs about a rodent. GM plebs.
Poor analogy. You can make new keys for your house. Or you can break in. Not so in Bitcoin. Unironically, your original thesis is correct, but most people will never manage their keys. Do not try to convince yourself otherwise.
Owning #bitcoin doesnβt make you special. Owning your time does.
Your stack is worthless.
https://primal.net/e/note15z3pk2hlx08cl8trzgwx6nys0jql4xq8swppcl76t7csgepqyx8s5gdw0s