Damus
Open in Damus
Jeff Booth · 10w
An asset underpinning a broken monetary system provides a very different view of #bitcoin than an open protocol emerging in layers. This is what most people still pricing bitcoin in pieces of paper...
 Matt Stacks profile picture
Matt Stacks @brackmmt
Why does my steak in 2021 and in 2025 still cost roughly the same amount of bitcoin though? I’m measuring btc in goods and services and the deflationary collapse in bitcoin terms isn’t revealing itself.

Is it because bitcoin is sniffing out the deflationary tech/ai/robotic collapse and the existing monetary system is just delayed in that realization so prices haven’t collapsed yet?

Something is breaking my brain and I can’t figure it out! 😫
❤️1
Jeff Booth · 10w
That is exactly it Matt. Lag time + greed and fear. As a small indicator of what you’re talking about - many PE funds in real estate have halted redemptions because if the assets were marked to market -insolvency would reign. While the market “waits” for more liquidity….ie - money printing...
Zsubmariner · 10w
Well, the price of steak in banker's permission slips went up 22%... I think Bitcoin is giving true signal. We also have to factor in the fact that destruction, waste and chaos are inflationary forces even for hard money. The real deflation is when the world actually gets richer in real terms, wh...