The irony of talking about auditing in fiat as stock prices soar despite 20 million unemployed. Enjoy exponential exacerbation of income disparity so you can keep your BigMac at a "stable" price. NOTHING is valued correctly, RN. Bitcoin is the metric system for money.
Hold on there, we've got so many things to unpack.
> The irony of talking about auditing in fiat as stock prices soar despite 20 million unemployed.
Stock are not a proxy for the economy, as you're discovering. They're a forward-looking price discovery mechanism. The market sees an end to this, and they're pricing it in. There's no reason a stock's ticker should fluctuate day by day to reflect the current sales. That's not how stocks are priced.
> Enjoy exponential exacerbation of income disparity so you can keep your BigMac at a "stable" price.
Stock prices have nothing to do with Big Mac prices. In general Big Mac pricing is an excellent metric when estimating purchasing power parity [1].
Income / wealth disparity is a real problem, and I guarantee you, bitcoin is not the solution to that. It's got worse wealth inequality than any banana republic. "The top 2.8 percent of wallet addresses control 95 percent of the supply of bitcoin, according to statistics." [2] Income inequality isn't relevant here since income tends to follow inflation.
That's a social problem that needs a social solution.
> NOTHING is valued correctly, RN.
Things are valued according to what people are willing to pay.
> Bitcoin is the metric system for money.
In a way it's closer to the imperial system: a slow, old, backwards, deflationary when the whole world is inflationary, system. Economically speaking of course.
