Bitcoin has been experiencing a deflationary cyle for almost 2 years - trading under fair value given normal electricity costs (unless you are making cow pellets to burn for free :-)). This is part of why we are here and part of the bigger hyperinflationary cycle that is being spawned in the process. It is trading extremely cheap! Don't take the bait.
www.zerohedge.com/ne...d-and-proven-part-ii
To reiterate what was explained and demonstrated in Part I; the fiat currencies of the Corrupt West have already been hyperinflated (in the correct use of this term). The money supply of these fraudulent, fiat currencies has been diluted to worthlessness, in fundamental terms. The central banks and our governments have already promised to complete this hyperinflation spiral, through driving the exchange rate of our currencies to zero (and stealing all our wealth in the process).
The true meaning of hyperinflation has now been defined. The factors which have made this economic holocaust both inevitable and irreversible have now been explained. One task remains to be completed: the proof. If our currencies have already been hyperinflated to worthlessness in fundamental terms, where is the economic carnage (i.e. price spiral) which is the consequence of the exponential, ultra-extreme dilution of these fiat currencies?
This task will be accomplished in Part III. It will first be explained how-and-why there is always a time-lag between when a currency has been rendered fundamentally worthless, and the time when the official exchange rate of that currency reflects this worthlessness. It will also be explained how the banking crime syndicate has managed to extend this time-lag through assorted lies, manipulation, and other financial crimes.
www.zerohedge.com/ne...d-and-proven-part-ii
To reiterate what was explained and demonstrated in Part I; the fiat currencies of the Corrupt West have already been hyperinflated (in the correct use of this term). The money supply of these fraudulent, fiat currencies has been diluted to worthlessness, in fundamental terms. The central banks and our governments have already promised to complete this hyperinflation spiral, through driving the exchange rate of our currencies to zero (and stealing all our wealth in the process).
The true meaning of hyperinflation has now been defined. The factors which have made this economic holocaust both inevitable and irreversible have now been explained. One task remains to be completed: the proof. If our currencies have already been hyperinflated to worthlessness in fundamental terms, where is the economic carnage (i.e. price spiral) which is the consequence of the exponential, ultra-extreme dilution of these fiat currencies?
This task will be accomplished in Part III. It will first be explained how-and-why there is always a time-lag between when a currency has been rendered fundamentally worthless, and the time when the official exchange rate of that currency reflects this worthlessness. It will also be explained how the banking crime syndicate has managed to extend this time-lag through assorted lies, manipulation, and other financial crimes.