2014 wasn’t exactly a great year for the Russian rouble. However, there is a ‘currency’, which performed worse than the rouble in 2014…Bitcoin
Guess what ‘currency’ underperformed the rouble in 2014
Posted by Lars Christensen on January 17, 2015
https://marketmonetarist.com/2015/01/17/guess-what-currency-underperformed-the-rouble-in-2014/
Next Post
What the SNB should have done
What the SNB should have done
The Market Monetarist- Paper: Financial regulation, demand for ‘safe assets’, and monetary conditions
- 10 years of Market Monetarist thinking
- The Fed’s Average Inflation Target (AIT) will soon tell the Fed to aim for DEFLATION
- Steve Horwitz, Mensch, economist and classical liberal scholar. A last farewell.
- Webinar: Too much money chasing too few goods
- Heading for double-digit US inflation
- Post-Covid Recovery – fast, but inflationary
- R* strikes back: The Fed will hike sooner rather than later
- A model for US bond yields – the Twitter version
- Tweeting on Central Bank Digital Cash
Ken
/ January 17, 2015But can Bitcoin even be considered a currency?
From 2012 to 2014 the “purchasing power” of 1 Bitcoin went from about $5 to about $1000. I guess this could be considered hyper-deflation
Then in 2014 the purchasing power of 1 Bitcoin went from about $1000 to its current value of about $200. I guess this could be considered hyper-inflation.
This volatility in purchasing power seems to exclude Bitcoin as a currency.
I don t really understand what Bitcoin actually is. But I don t think it’s a currency
George Dorgan (@DorganG)
/ January 18, 2015That is great news.
Finally Bitcoin follows fundamental rules and not only obeys to speculation. This gives more credibility.
Same as gold and rouble it falls when USD gets stronger!