Re:Bitcoin exchange rate reached $100 USD per BTC
by jwallaceparker on Thursday April 04, 2013 @02:44PM
(#5494475)
Okay. I'm clear on the "real" price in the chart.
But still, gold has never dipped below its 1918 low on that chart. Twice it shot up as a hedge against paper inflation, but it never went below where it started.
Isn't that a terrific store of value? I'm talking about a time frame of centuries here. Not just a few years during a bubble.
And before you counter that we're currently in a low inflation period - we're not. If the CPI was measured using the same metrics that the government used itself in the early 80's, inflation would be running at 9% annually.
But still, gold has never dipped below its 1918 low on that chart. Twice it shot up as a hedge against paper inflation, but it never went below where it started.
Isn't that a terrific store of value? I'm talking about a time frame of centuries here. Not just a few years during a bubble.
And before you counter that we're currently in a low inflation period - we're not. If the CPI was measured using the same metrics that the government used itself in the early 80's, inflation would be running at 9% annually.