These inflation rates are policy failures. But positive inflation is policy. Cash isn’t designed to hold value over time. We have other instruments for that. And the notion that one should have stable value transport across time for free is a bit ridiculous, as well as economically destructive in basic ways.
Not in the way you're saying - it's a matter of degree. When Theranos scammed hundreds of millions, the dollar didn't drop in value, nor has that ever happened.
You seem to have unconventional definitions of "stable" and "volatile". Calling a 10% devaluation in 1 year volatile is laughable compared to crypto. For example BTC -65% in 1 month (1/6/18 to 2/6/18) or how about TerraUSD, -80% in less than 1 week, 5/9-5/14/22.
Fiat and crypto aren't even in the same galaxy when it comes to volatility.
And? Is it even coming close to the volatility of the most popular coins?
> Unfortunately, the central bank currency's never go back up in terms of purchasing power. They only go down.
With good reason! Deflation is one of the greatest worries in any economy.
This is an accurate characterization of the dollar as well.
A common theme in all the cryptocurrency hate is that crypto enables scams, drug deals, etc. It's value fluctuates because of the decisions of a few bad actors. The dollar and every other central bank currency also have these issues.
The dollar recently peaked around a 9% inflation rate.
The euro peaked around 10%.
I could also make an argument that these numbers are actually understated but that's not the point. These are supposedly stable currencies. A person who has saved up ~100K Euros by January 2022 now only has ~90k Euros in January 2023. That's some pretty significant volatility. Unfortunately, the central bank currency's never go back up in terms of purchasing power. They only go down.