The Simplest Bitcoin Book Ever Written
Average Inflation over the past 50 years in the US:
| Average Cost | 1971 | 2024 | % Increase |
|---|---|---|---|
| Salary | $9,400 | $59,400 | 532% |
| House | $23,400 | $513,000 | 2,092% |
| Gasoline | $0.36 | $4.17 | 1,058% |
| New Car | $3,400 | $47,000 | 1,282% |
| College Diploma | $1,400 | $26,000 | 1,757% |
| Shopping Cart | $20 | $210 | 950% |
| Electricity/kWh | $0.02 | $0.15 | 650% |
True Story:
~ A house was bought in 1976 for $58,000.
~ When accounting for 'official' inflation, this would be
$279,000 in 2022 dollars.
~ In 2022 the same house was valued at $2.09 million.
~ Ponder on that…
Fiat currency is disinformation.
What information does a $10 bill convey?
The 10 is a numerator of a fraction with the denominator missing.
10 out of what?
The 10 says nothing without a known and stable denominator.
What information does a $10 bill convey?
The 10 is a numerator of a fraction with the denominator missing.
10 out of what?
The 10 says nothing without a known and stable denominator.