Bitcoin is a derivative of the US dollar and various other fiats and is in no way free floating whatsoever, nor the unit of account of anything.
That will be falsified when Libra replaces the US dollar with (legacy) Bitcoin as the reserve sometime later in this decade and the U.S. dollar collapses whilst (legacy) Bitcoin continues to the moon.For inflation? If there was a Venezeulan-style melt up, people then lose faith in the current unit of account (Jewish Federal Reserve note), and all pile into the base of Exter's Pyramid to try and retain value (physical gold and silver). Bitcoin is located nowhere near the base of Exter's Pyramid so in a rush to the exits will not be the benefactor of becoming the new unit of account.
Empirically thats already been falsified recently in Venezuela. The Venezuelans werent walking across the border to Colombia with bits of gold in their pockets. That would have been too dangerous. Interest in cryptocurrencies has been significant and rising according to anecdotal reports. Ditto Argentina.
Heck Venezuela even had the threat of their gold being confiscated by the bankers in London. Gold has declining utility because the transferrable asset is attached to its physical mass, unlike proof-of-work where the physical mass (the mining equipment) is detached from the transferable value.
Face the facts.
Libra and Chinas competitor shitcoin ultimately must back their centralized, no Nash equilibrium proof-of-stake shitcoins with Bitcoin reserves, otherwise theyll be replaced by a transactional medium-of-exchange that does. Because Bitcoin is the only monetary asset other than precious metals which has a decentralized Nash equilibrium due to unforgeable costliness.
However, what happens if someone creates a cryptocurrency that effectively has decentralized (i.e. cant be BSV nor BCH which only increase block sizes via the ruse of centralized mining) transactional volume scaling and a Nash equilibrium with unforgeable costliness? HTLCs such as Lightning Networks cant succeed and besides Bitcoin has a poison pill game theory which will destroy all the mutations to the protocol since Satoshi left the building.