Economy "For the first time in history you have an asset more scarce than gold"

[Eric Silva 2.0]

Bitcoin which has an inflation rate of 1.69% right now, will be halving in April. After the halving, the inflation rate will drop to .84%. The predictablility of the inflation rate is a big plus to people all over the world who are trying to protect themselves from inflation. Gold and silver are another great way as well but bitcoin has advantages. It's a better medium of exchange than gold since it is more portable. U.S. inflation was calculated at 8% last year and this year will probably drop to about 3% here in the U.S.. That doesn't sound too bad but the devil is in the details. I calculated inflation to be 8.8% last year which isn't much of a difference but this year I have estimated it to be 9.5%. In 2020, the stated inflation rate was 1.23% but I calculated it to be 18.6%. I guess it's good to own gold, silver and bitcoin. It's important to have money with defined inflation rates. History has shown what has happened with fiat currency (paper 'money'). It never ends well. For the record, bitcoin is behaving like a store of value or reserve asset. It hasn't shifted into the 'medium of exchange' phase yet. It's interesting how Milton Friedman predicted internet money (Bitcoin) in 1999.

Edit:
Added Video


"Inflation is always and everywhere a monetary phenomenon." Milton Friedman

U.S. inflation rates

U.S. Inflation Rate 1960-2024

Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.

www.macrotrends.net

For problems with inflation calculations a website like Shadowstats might be a good start. I have my own method of calculating inflation.

 

[Long Dark Blues]

Your title is incorrect.

Platinum is more scarce than gold, as is Palladium. So Bitcoin isn't the first.

 

[koquerelle]

Stopped reading at Bitcoin.

 

[Eric Silva 2.0]

Your title is incorrect.

Platinum is more scarce than gold, as is Palladium. So Bitcoin isn't the first.

I made an edit with a video. It was a guy on CNBC who is a supposed expert. You can find the video in the OP now.

 

[BreatheSherBro]

What can you do with bitcoins/other crypto currency other than hope someone else buys them from you for more than you paid for them?

I know in theory they might become international currency one day, but I think we are still a ways off from that, right?

 

[Barteh]

What can you do with bitcoins/other crypto currency other than hope someone else buys them from you for more than you paid for them?

I know in theory they might become international currency one day, but I think we are still a ways off from that, right?

They're pretty big on the black market. I know people who buy recreational drugs and steroids and they pay in crypto.

 

[HOLA]

I have my own method of calculating inflation.

Which is?

 

[HOLA]

What can you do with bitcoins/other crypto currency other than hope someone else buys them from you for more than you paid for them?

I know in theory they might become international currency one day, but I think we are still a ways off from that, right?

Last time you went into Dunkin' or wherever to grab yourself a cup of coffee, did you see anyone paying with Bitcoin? lol.

 

[RonDante]

What can you do with bitcoins/other crypto currency other than hope someone else buys them from you for more than you paid for them?

I know in theory they might become international currency one day, but I think we are still a ways off from that, right?

Pedos bought crypto to pay for illegal videos, but then they didn’t know how so when it blew up they became rich, true story

 

[KBE6EKCTAH_CCP]

Bitcoin which has an inflation rate of 1.69% right now, will be halving in April. After the halving, the inflation rate will drop to .84%. The predictablility of the inflation rate is a big plus to people all over the world who are trying to protect themselves from inflation. Gold and silver are another great way as well but bitcoin has advantages. It's a better medium of exchange than gold since it is more portable. U.S. inflation was calculated at 8% last year and this year will probably drop to about 3% here in the U.S.. That doesn't sound too bad but the devil is in the details. I calculated inflation to be 8.8% last year which isn't much of a difference but this year I have estimated it to be 9.5%. In 2020, the stated inflation rate was 1.23% but I calculated it to be 18.6%. I guess it's good to own gold, silver and bitcoin. It's important to have money with defined inflation rates. History has shown what has happened with fiat currency (paper 'money'). It never ends well. For the record, bitcoin is behaving like a store of value or reserve asset. It hasn't shifted into the 'medium of exchange' phase yet. It's interesting how Milton Friedman predicted internet money (Bitcoin) in 1999.

Edit:
Added Video


"Inflation is always and everywhere a monetary phenomenon." Milton Friedman

U.S. inflation rates

U.S. Inflation Rate 1960-2024

Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.

www.macrotrends.net

For problems with inflation calculations a website like Shadowstats might be a good start. I have my own method of calculating inflation.

Lol at Shitcoin

 

[DoctorNick]

Maybe I'm in the minority here, but I'll make a bold claim that glory holes are more scarce than gold as well. If anybody wants to debate whether they're an asset or not, I feel like we would be spending our time on sherdog wisely.

 

[panamaican]

Maybe I'm in the minority here, but I'll make a bold claim that glory holes are more scarce than gold as well. If anybody wants to debate whether they're an asset or not, I feel like we would be spending our time on sherdog wisely.

I've never seen a glory hole where a normal ass would go so I'm "Team No" on them being an asset.

 

[PG29 red0 Jr]

Your title is incorrect.

Platinum is more scarce than gold, as is Palladium. So Bitcoin isn't the first.

What about Rhodium, iridium and ruthenium?

 

[BreatheSherBro]

Maybe I'm in the minority here, but I'll make a bold claim that glory holes are more scarce than gold as well. If anybody wants to debate whether they're an asset or not, I feel like we would be spending our time on sherdog wisely.

Glory holes at least have a real purpose that anyone can understand. A well placed glory hole adds functionality to any structure.

 

[Crawler89]

yeah bitcoin aint the savior of the world like bitcoin chuds wanted it to be, and never will be.

 

[Jack V Savage]

Which is?

He mentioned Shadowstats, which has the brilliant method of taking the actual number and just adding a constant. Maybe this guy had a new innovation--like adding a different, higher constant.

 

[Eric Silva 2.0]

What can you do with bitcoins/other crypto currency other than hope someone else buys them from you for more than you paid for them?

I know in theory they might become international currency one day, but I think we are still a ways off from that, right?

It's being used as a store of value (speculatively) currently. Only in places like Nigeria are they using it as peer-to-peer money. It's early yet. I am only talking about bitcoin here.

 

[THEfightsAREfixed]

Silver is materially more rare in the earth’s crust than gold, and has been used for currency and backing of currencies for a long time.

 

[Kowboy On Sherdog]

I'm pretty sure it's that stuff in Wakanda

 

[Jack V Savage]

Silver is materially more rare in the earth’s crust than gold, and has been used for currency and backing of currencies for a long time.

The number of things that people could call assets that are rarer than gold is almost infinite. But I give the TS a pass on that bit of stupidity.