> why you single out the fact that we have an inflationary currency
Because it is the core factor. The inflation rate has vastly exceeded 1% for many years, and I consider this ideal target to be tolerable in the long-term. Even the Fed's target of 2% is an abomination when compounded, as it exceeds gold's mining rate. The moneyprinting that has occurred has benefited the rich at the expense of everyone else.
As for Bitcoin, it isn't really a sustainable technology as a currency. It will have major problems in the years ahead as its mining rate dwindles, with transactions becoming too expensive. Once it has been fully mined, its transaction cost then has no bounds. As this progress, its miners could slowly start to choose to discontinue transaction-affirming operations that are no longer worth the hassle.
The rich aren't really subject to inflation, as they have stock market ETF holdings that appreciate well. The poor are subject to it strongly because their incomes don't scale with inflation. The middle class are also subject to it for the same reason, but also because their meager savings dwindle in purchasing power.
Because it is the core factor. The inflation rate has vastly exceeded 1% for many years, and I consider this ideal target to be tolerable in the long-term. Even the Fed's target of 2% is an abomination when compounded, as it exceeds gold's mining rate. The moneyprinting that has occurred has benefited the rich at the expense of everyone else.
As for Bitcoin, it isn't really a sustainable technology as a currency. It will have major problems in the years ahead as its mining rate dwindles, with transactions becoming too expensive. Once it has been fully mined, its transaction cost then has no bounds. As this progress, its miners could slowly start to choose to discontinue transaction-affirming operations that are no longer worth the hassle.
The rich aren't really subject to inflation, as they have stock market ETF holdings that appreciate well. The poor are subject to it strongly because their incomes don't scale with inflation. The middle class are also subject to it for the same reason, but also because their meager savings dwindle in purchasing power.