1 ounce of gold has bought a nice suit for a few thousand years now. That equilibrium is because the mining inflation of gold matches the gains in human productivity producing the suit over long timeframes. Both are gains in human productivity.
Bitcoins supply shrinks instead of growing no matter how much productivity gains occur. That means not only does bitcoin have no equilibrium point against fiat, it has no equilibrium point against goods and services.
Bill Cypher /
npub1qy…dmu7u
2024-08-07 02:45:56
Author Public Key
npub1qyxlpj2gl6dt2nfvkl4yyrl6pr2hjkycrdh2dr5r42n7ktwn7pdqrdmu7uPublished at
2024-08-07 02:45:56Event JSON
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"content": "1 ounce of gold has bought a nice suit for a few thousand years now. That equilibrium is because the mining inflation of gold matches the gains in human productivity producing the suit over long timeframes. Both are gains in human productivity.\n\nBitcoins supply shrinks instead of growing no matter how much productivity gains occur. That means not only does bitcoin have no equilibrium point against fiat, it has no equilibrium point against goods and services.",
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}