Stefan MolyneuxVerified account

Why wouldn't gold be skyrocketing too?

https://youtu.be/YA1k8Rz583U 

The argument was: "All assets to fiat are correlated without this loss". Meaning, other assets would be making similar price moves, as compared to Fiat, and #bitcoin. They're not, but that's not to say that Fiat isn't losing value, it is. It's not the sole reason $BTC is gaining

If national fiats are in free fall, all assets would be exploding in price. They are not. It is sovereign fiats losing mindshare to cryptofiat.

"All assets to fiat are correlated without this loss." - How would you defend against this point Stefan?

pound down 99%, dollar down 97% compared with old hard metal based money.

You're in over your head, fiat is the entire currency system outside of the blockchain, and just because the US dollar is losing value, it does not mean all other payment systems not backed by the blockchain are.

also confusing value and price

Fiat currencies all over the world continuously loose value; they call it inflation (The Hidden Tax) Countries are now devaluing their currencies to get an edge in trade wars (beggar thy neighbor) Central Banks need to devalue because it's a debt based system. It's a race v v

Fiat is not in free fall. It loses value against consumer products at 2% per year. Crypto gains value against consumer products at 1000% per year. If money does not provide means of living or is measured against means of living it is meaningless.