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A comment on One year on, El Salvador’s Bitcoin experiment has proven a failure. Parent comment

Re:One year on, El Salvador’s Bitcoin experiment has proven ... by dragontamer on Wednesday September 14, 2022 @11:50AM (#32838891)
When people are complaining about the declining purchasing power of USD, they are mostly talking about since November 2021, because that's when inflation started to really kick in.

Its ironically, also when BTC really began to collapse from its $60,000 high. So it really demonstrates how much the BTC was benefiting from low-interest rate / inflationary policies.

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Re:One year on, El Salvador’s Bitcoin experiment has proven ... by SketchySeaBeast on Wednesday September 14, 2022 @12:30PM (#32839541)
> So it really demonstrates how much the BTC was benefiting from low-interest rate / inflationary policies.

It's almost like it's not a hedge at all and just another part of the exact same game as the rest of the market.

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Re:One year on, El Salvador’s Bitcoin experiment has proven ... by hajile on Wednesday September 14, 2022 @04:02PM (#32842597)
Inflation numbers for December of 2021 were 6.8% CPI and 9.6% for wholesale (way higher when you look at goods only rather than services).

CPI was nasty for most of June 2020 to June 2021. It's just that fewer publications were picking up the story yet.

https://www.bls.gov/news.release/archives/cpi_07132021.pdf

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