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65 sats \ 0 replies \ @davidw 29 Feb \ on: Tracking the fall of USD: 1971 v. 2009, 1933, 1913, 1861, 1792 bitcoin
The earlier the better. This chart of UK CPI includes my own future extrapolation in a SN post about Bitcoin’s potential hyperbitcoinisation, but you can see the context of an actual long-term gold standard that has happened before. Economies actually function very well on a hard money deflationary standard. This insight is alien to people today.
https://imgprxy.stacker.news/W1Yo0mEcYSReS-klyxOV3Q1gCfkOzqI06wFpjgJSRrk/rs:fit:2560:1440/aHR0cHM6Ly9tLnN0YWNrZXIubmV3cy8xNDI4MA
The average price of something is basically 100x what it was 110 years ago already. But 210 vs 110 years ago it would have been almost the very same price, if not cheaper.