So in November I’ll have been at my job 20 years. When I started, the average pay for the bottom rung position was $6-$6.50 per hour depending on experience. A pack of Marlboro would run you $2.72, (and you could often get buy one get one deals.). A bottle of soda was 89 cents, a Hershey bar was 59 cents, and a new car would run you somewhere between $10 and $12 grand for a small sedan. Gas was $1.19 a gallon and even dropped to 99 cents now and then. I still remember filling my ‘89 Corolla on 12 bucks every other week. My first apartment ran me and the wife $575 a month in Philadelphia (not the bad parts.) My community college courses were $300 each.
Fast forward to the prices today: We are starting kids in Highschool with no job experience at $13 minimum and most with some experience make $14-$15. A pack of Marlboro is $12.78. Yes, some of that is from state and federal tax increases, but, certainly not $9 worth.)That Hershey bar? It’s $1.79 and 30% smaller. The same soda is $2.19. A new car? You’d be lucky to get the base model for $17k before all the add ins and taxes and fees. Gas? $3.09 as of last night. That same apartment? $950 now, and the neighborhood has declined significantly. Those same courses are $750 a class.
Now think about what BTC has done in 11 years. Or gold or silver in 20. (Up about 600% each respectively.)
Sure, your phone can do 17 things that many devices had to do separately back then. Yes, tech is cheaper. But you can’t eat an i phone and you can’t live in your 75 inch plasma mega hyper 3-D 5000 smart TV.
The dollar is garbage. US debt in unsustainable. But you can’t deficit spend BTC and you can’t debase blockchain.
Short term FUD? Long term your FUD should be about Paper notes based on faith and credit of governments.
As Voltaire said: Paper money will always eventually return to its intrinsic value: Zero.