Quote from: jaysabi on Today at 06:14:21 AM

Quote from: Gyfts on Today at 03:51:17 AM

Quote from: jaysabi on Today at 03:48:30 AM

Loool. You don't even recognize one of the most influential people in crypto in this picture in our haste to dismiss the wholly legitimate arguments he's presenting. He's right about it too. The vast majority of crypto "adopters" that have pushed the price so high don't actually care about decentralization. Rude truth is that the majority of crypto enthusiasts are just FOMOing in trying to get rich. And it's funny that people bitch about the USD losing 2% per year somehow thing a currency they can't predict the value of tomorrow is somehow better.

It's more than 2 percent per year, it's 5 percent for USD, 2 percent would be a dream for most folks. 2 percent is the value that the fed aims for, under ideal conditions. And as I'm sure you know, the endless spending the US government is so familiar with does not help the inflation problem.

It's historically not 5% per year, not even close. The inflation rate over the last 11 years averages 2% per year, and that's including the large increase in 2021. It's been remarkably stable despite the massive quantitative easing. And even assuming we used your wrong number of 5% per year, that would still be vastly superior as a currency to one that regularly depreciates 10% in a day. That's an unusable currency that doesn't allow for any type of long term planning because volatility is a terrible quality for a currency to have. The inability to plan long term is a death knell for any economy.

Year Annual Inflation Rate
2011 3.0%
2012 1.7%
2013 1.5%
2014 0.8%
2015 0.7%
2016 2.1%
2017 2.1%
2018 1.9%
2019 2.3%
2020 1.4%
2021 5.4%

Source: https://www.usinflationcalculator.com/inflation/current-inflation-rates/

Unfortunately, it's not inflation that investors who are lurking are concern about but its profit because if not all, most of them expect prices to double after a day of buying a cryptocurrency. They are not planning to hold for a long time.

While those investors who have ideology hated binance for asking KYC, they send drivers licenses and passports to get every airdrop that is offered.