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Topic
Board Beginners & Help
Re: Does Bitcoin fulfill the classic economic functions of money?
by
Heromember09
on 05/11/2021, 19:17:17 UTC
Does money serve as a store of value in the same way though?

Central banks target 2% perceived inflation a year and most don't get anywhere near that. The US is estimated to inflate currency by up to 8% a year to get the cost of living to increase by 2% a year. Most of Europe attempts to get closer to hit that 2% of printing power, most of those currencies follow each other and the dollar and inflation measured/percieved there normally ends up around 1%. Then you get random years, like this, where a 10-20% jump in a year isn't too unlikely - this would probably feel very stupid if it was written down and didn't affect people's survival...
Sure. Why not? Gold or other precious and or strategic metals which have intrinsic value,are a store of value and used as currency if needed so.