BoE money printers are on fire

[scooterscot]

cash is only worth anything relative to something else.
When inflation is low/stagnant, printing money makes more money but doesn't actually devalue it against real goods. So it's not lost as much value as has been printed.

The bitcoin speculative bubble is isolated from that to some degree by the fact that it's not a currency that can be used in normal day to day transactions due to the astronomical charges.

How is it then I can buy less Bitcoin with the cash than 6 months ago?

Not a currency? currency is a medium of exchange by its adopters. Iran turns to bitcoin to fund imports

Crippled by sanctions imposed by the US government, Iran has turned to cryptocurrency to fund imports.

The Islamic republic has become the first country in the world to adopt bitcoin at a state level for value exchange, Trustnodes reports, citing a story issued by the official IRNA news agency.

The Iranian cabinet has changed legislation in order to redirect the crypto into the Central Bank of Iran’s funding mechanisms for imports.

“The miners are supposed to supply the original cryptocurrency directly and within the authorized limit to the channels introduced by the CBI,” said a report by CBI and the Ministry of Energy.

Presstv, an Iranian state-owned news and documentary network affiliated with the IRIB, explained: “The legal cap for the amount of cryptocurrency for each miner would be determined by the level of the subsidized energy used for mining and based on instructions published by the Ministry of the Energy.”

[AtW]

How is it then I can buy less Bitcoin with the cash than 6 months ago?

And why would that matter in the least?

Even drug dealers allegedly moved off main tulipcoins because no sane business would want to deal in volatile currency

Other than cyber criminals nobody really needs tulipcoins for anything - exchange rate is completely irrelevant even to cybercriminals who just want to bypass law enforcement tracing

[scooterscot]

Fact: More criminals use fiat than crypto.

Over to you chief.

[vwdan]

Fact: More criminals use fiat than crypto.

Over to you chief.

You've just agreed with the point he made. You're.......you're just not a clever person are you, Scooter?

[scooterscot]

If you say so.

[fullyautomatix]

And why would that matter in the least?

Even drug dealers allegedly moved off main tulipcoins because no sane business would want to deal in volatile currency

Other than cyber criminals nobody really needs tulipcoins for anything - exchange rate is completely irrelevant even to cybercriminals who just want to bypass law enforcement tracing

I am not a tulipcoin fan but Bitcoin has stayed relevant because it is priced in dollars and a lot of people in a lot of countries facing high inflation have hedged themselves by buying bitcoin. In countries like Argentina you cannot just buy dollars, so bitcoin has proved to be an easy alternative.

[Lance]

How is it then I can buy less Bitcoin with the cash than 6 months ago?

Not a currency? currency is a medium of exchange by its adopters. Iran turns to bitcoin to fund imports

cos BTC has got more expensive.

Your GBP is pretty much the same against all other FIAT currencies (USD, EUR, CHF etc). So it's worth the same as it was.

BTC whilst a currency, is not one that can be used to guage the value of other FIAT currencies.
It's like comparing apples and diodes. They are both "products" in the same way as BTC and FIAT are both "currencies".

You're preaching to the converted here, but are still wrong in this instance. Unless I see a chart....

[Lance]

I am not a tulipcoin fan but Bitcoin has stayed relevant because it is priced in dollars and a lot of people in a lot of countries facing high inflation have hedged themselves by buying bitcoin. In countries like Argentina you cannot just buy dollars, so bitcoin has proved to be an easy alternative.

when BTC was in its infancy the Argentinian peso was used as an example of why BTC could work.
BTC is volatile. But less volatile than the peso was at the time.

[vwdan]

If you say so.

I love it when you realise you've lost and get all stroppy. Calm down, dear!

[scooterscot]

cos BTC has got more expensive.

Your GBP is pretty much the same against all other FIAT currencies (USD, EUR, CHF etc). So it's worth the same as it was.

BTC whilst a currency, is not one that can be used to guage the value of other FIAT currencies.
It's like comparing apples and diodes. They are both "products" in the same way as BTC and FIAT are both "currencies".

You're preaching to the converted here, but are still wrong in this instance. Unless I see a chart....

cash is only worth anything relative to something else.
When inflation is low/stagnant, printing money makes more money but doesn't actually devalue it against real goods. So it's not lost as much value as has been printed.

The bitcoin speculative bubble is isolated from that to some degree by the fact that it's not a currency that can be used in normal day to day transactions due to the astronomical charges.