- This topic has 20 replies, 2 voices, and was last updated 5 months, 2 weeks ago by Castr0-.
- Friday, June 17th, 2022 at 10:42 #310372Much-Weekend-8882Participant
Is it possible to calculate the bitcoin or Ethereum price relative to strength of dollar in that particular time?
See bitcoin might be worth whatever in dollars right now , but 20k in 2017 was worth much more than 20k$ in 2022 right?
So would it be too low to say right now bitcoin that is worth barely 20k$ is actually worth like 15k$ 2017 dollar value all things considered/ money printing/inflation?
We need some advanced statistics to measure the wealth because pure Dollar ratios are useless!
How many big macs per bitcoin in 2017 ?
How many big macs per bitcoin in 2022?
I think we are losing significant information about value if we simplistically deduce everything to Dollar value and conclude you can compare values year to year
Like 25% dollars ever existed were printed since like 2020
Are we plebs that dumb we can’t create a better ratio?
BTC/ Cigarette pack in Australia
Whatever we must do better because strictly Dollar ratio is fools errands!Friday, June 17th, 2022 at 10:45 #310374Mardoc0311
I think someone just learned what inflation is…Friday, June 17th, 2022 at 10:46 #310380StandardCell9963
We don’t think this way because the crypto community is now like a cult and we just wanna see green dildos forgetting that bitcoin isn’t independent yet and “we’re still early”Friday, June 17th, 2022 at 10:46 #310382DutchTechJunkie
A dollar is still worth a dollar. You are looking at the buying power of a Bitcoin.
If you use the dollar as a peg (still arbitrary, why not the Euro or the Yen?) you can use this calculator: https://www.usinflationcalculator.comFriday, June 17th, 2022 at 10:47 #310378Maxx3141
This is called “inflation correction”, and is a thing, but it’s usually done over larger time frames.
What makes that more complicated is, that it’s somehow up to debate what inflation really is right now. The central banks are using a reference shopping cart, while some people still prefer to use the actual money supply expansion, which would be a lot higher.Friday, June 17th, 2022 at 10:47 #310373Intelligent_Page2732
You are a couple years late to figuring out inflation mate.Friday, June 17th, 2022 at 10:50 #310379Socialinfluencing
Let me simplify it. If you blow up a balloon, eventually the material will expand so much that blowing any more air into it will cause it to pop. The world’s economy is that balloon and the air is the fiat currencies that have propped it up via our corrupt governments worldwide.Friday, June 17th, 2022 at 10:52 #310377Helen666_Keller
Go on tradingview and divide btc by m2Friday, June 17th, 2022 at 10:54 #310381Virtual-Yam-4733
In 2011 could buy one bitcoin or a dozen eggs for a dollar. 2022 you will get about three eggs for $1. Or 60,000 eggs for one bitcoinFriday, June 17th, 2022 at 11:00 #310383xmjke21x
I heard a different number other than 25%, this sounds crazy and someone check me on this but I heard 80% USD was printed in the last 2-3 years. Eeeeeeeeek!
I would imagine to calculate 2020 vs 2022 you can take inflation number they report in the CPI year after year. So I don’t know, 7% in 2021, we are at 8.5% year to date. Maybe your dollar is worth 15.5% less today.Friday, June 17th, 2022 at 11:00 #310384DBRiMatt
I did some M*oo*ns Maths at the start of the week…
About 9 months ago. M*oo*ns were around $0.30 AUD and Unleaded petrol cost around $1.35/L – about 180 mo*o*ns to fill up a Corolla.
Now we have 8 cent m*oo*ns, and unleaded is $2.05 AUD – about 1000 m*oo*ns to fill up the Corolla.
Looks like they are worth 3.5 cents AUD each nowFriday, June 17th, 2022 at 11:01 #310375tefosaenz
OP might be onto something
-1800 BC Babylon bankersFriday, June 17th, 2022 at 11:04 #310385ahabraken
I think you can use the BTC price / M2 money supply or something like that.
No idea how accurate it is but tradingview this: ‘BITSTAMP:BTCUSD/FRED:M2SL’Friday, June 17th, 2022 at 11:04 #310386Hope8888
Not at Wendy’sFriday, June 17th, 2022 at 11:10 #310376Harold838383
Hey 1 btc still equals 1 btcFriday, June 17th, 2022 at 11:12 #310387metaversecom
We definitely need new definition for inflation,the old one is getting out of touch.Friday, June 17th, 2022 at 11:12 #310388PrinceZero1994
Yeah had this thought as well before.
Bitcoin at a price is more expensive in the past.Friday, June 17th, 2022 at 11:15 #310389Graham2405
$1 = $1
But that $1 will buy you less goods/and or services than it would have done 10 years ago.
Oh the wonders of Inflation.
‘Like 25% dollars ever existed were printed since like 2020’
Don’t get too hung up about the teeny amounts of dollars that are printed.
Why do you think that they use interest rates to control inflation?
Because the real dollars have little impact (benefits of being a reserve currency), the main impact is credit money which accounts for circa 10 times the amount of real dollars.
Raising rates reduces the supply of credit money, thus controlling inflation, painfully.
Back to Bitcoin, you do not need a better ratio, just calculate the values against regularly published inflation figures.
Example, recent drop in Bitcoin (1 year chart), circa 44%, add inflation another 8% and you have a ‘real’ drop in value of circa 52%. Not too difficult.
Leave selecting what is in the ‘basket’ to the professionals.
Pick any single item and you’ll get a fucked up result, e.g. A basic mobile phone in the 80’s was circa $5k. How did that work out in your inflation calcs?Friday, June 17th, 2022 at 11:17 #310390GetEmDaddy902
My gas and food says other wiseFriday, June 17th, 2022 at 11:19 #310391Jeeproe
yepp, that’s why you have a standard basket of goods to measure the cost development of itFriday, June 17th, 2022 at 11:20 #310392Castr0-
You are discovering what inflation is my friend.
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