An observation of the growing difference between the value of crypto currency and fiat currency.
Ask yourself a question. How much money would you have right now if your employer was paying you in crypto currency rather than in fiat currency?
If I was being paid my salary in bitcoin for the last few years, I would be close to a millionaire right now. I am not kidding around. I am lower middle class in terms of how much money I typically make as well. I am not wealthy by any real measure at all either.
I think something really weird seems to going on with the actual value of fiat currency right now. I wonder if this kind of growth with crypto is occurring due to fiat currency dropping in value. What do you guys think about this? Are we seeing something much bigger going on behind the scenes when we see the value of bitcoin continuing to rise like this?
Well food prices have doubled in local currency since I 1st heard of BTC...
And BTC has increased 20x in the same period of time
There is clearly more to it then just FIAT inflation, BTC is taking banking to a whole new level with lower fees and full control over your funds
Is it really lower fees though? Doesn't the cost of a every transaction add up to about what you pay to have a checking account?
The fees are just a different part of the problem creating inflation. The printing of fiat with nothing of value backing it and charging/creation of interest is basically just a continual supply of fake money with zero value put into the economy. Interest in itself is non-existent money. It's creating money that doesn't exist by charging someone for the privilege of using money they don't have. You cannot create value by expecting someone that doesn't have 100 dollars to pay you 110-129 dollars back. What happens is debt is just a continuous cycle of fake money being shifted around and it creates a bubble of false value that eventually implodes. Much like what we saw with SBD a week or so ago, but on a vastly larger scale.
I can sum up the entire phenomena that you are experiencing in one word:
This is way faster than normal though.
Ya, people are moving away from the dollar. Some of them are moving into Chinese fiat which is ever worse. Lot of people moving into silver/gold, which I really have no opinion on. Crypto is also up 100 billion dollars in the last 2 months or so, it's possible the government is printing money to buy crypto, Russia and North Korea have already moved into Ethereum/BTC. The world is changing and I haven't worked for fiat in ~6 months now.