One year on, El Salvador’s Bitcoin experiment has proven a failure

Re:One year on, El Salvador’s Bitcoin experiment has proven ... by Zanfa on Wednesday September 14, 2022 @07:21AM (#32835629)

Ignoring the fact that you’re implying a 100% USD inflation over the past year, you’d only have 25% of the purchasing power if you “invested” in BTC per the GPs example.

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Re:One year on, El Salvador’s Bitcoin experiment has proven ... by sp332 on Wednesday September 14, 2022 @12:27PM (#32839501)

"Inflation" is an average of several things. Actual inflation doesn't have to be even across all items. Groceries went up more than other things.

Edit: some examples https://www.ers.usda.gov/data-products/food-price-outlook/su... Retail egg prices went up 38% from July 2021 to July 2022.

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Re:One year on, El Salvador’s Bitcoin experiment has proven ... by the_gastropod on Wednesday September 14, 2022 @02:16PM (#32841048)

Yes. And eggs are the highest increase on that list, at 38%—still a far cry from 100%. Comparatively, fresh fruits are down 0.8%, and fresh veggies up only 0.8%.

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