0 sats \ 1 reply \ @SatoshiNakanodo 22 Mar 2023 \ on: The White House just dropped a backlog of FUD: FedNow and a future CBDC bitcoin
Recall that one of the purported benefits of crypto assets like Bitcoin was to hedge against inflation, meaning that their value does not erode as inflation increases. But as inflation increased globally in the second half of 2021 and in 2022, the prices of crypto assets collapsed, proving them to be, at best, an ineffective inflation hedge.
Anyone know what the required timeframe is for something to be an "inflation hedge"? I mean I guess if you have the attention span of a fruit fly this statement would be correct.
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0 sats \ 0 replies \ @Bitcoinisawesome 22 Mar 2023 freebie
not only is this ignoring longer time frames it's also blatantly ignoring the inflation of other fiat currencies than the USD that bitcoin actually did quite well for during their given time frame.