It's not so much a deal but I think this should be here. Bitcoin price calendar stamp in month of October.
2010: $0.06
2011: $5
2012: $12
2013: $127
2014: $383
2015: $238
2016: $614
2017: $4388
2018: $6579
2019: $8317
2020: $10,832
It's noticeable how in 2017 skyrocketed the price of bitcoin, that's when I entered the cryptospace and discovered this forum, I was able to ride the hype the pre pump in September 2017, that was a blast.
Seeing the prices of bitcoin through years makes me think of Moore's law, you can check it out in google though it was not really doubling the price every year. Is a new law possible for the price of bitcoin like Moore's law?
Its an old law, i don't know what its called, but it does exist. Its not "twice" every year, it is vertical in the beginning and horizontal at the end. Its a logarithmic curve.
If the USD magically held the exact same purchasing power over time (it doesn't) then the price of bitcoin against the USD should increase less and less over time. It will approach a flat, without actually ever flattening. Of course it cannot go down either., unlike gold, no new bitcoins will ever be discovered after 2140.
Fiat money is made lose value on purpose, because of the dogmas of those economists not following the Austrian school.
Bitcoin is not losing value by having a "controlled" inflation that fits those mistaken models. Other assets like gold exhibit a similar curve in its historical prices. The early investors made the most by buying in the first few years, and that is how it is. By 2017 most was already gained, sure, people will gain less and less overtime as it enters maturity.
Said in another way, you would have always gained more the year before. And by that i mean buying and selling. If you don't sell, even better. Your wealth will not decrease and that is what matters.
Fiat cannot do the same, because a politician can ruin it overnight. As long as the State has control over the money, your wealth will never be safe. Been there, done that. Zimbabwe and Venezuela are not the last, even the almighty USD can fall into the hyperinflation spiral, just let your politicians do what they have been doing, especially recently...
When the USD falls and brings the EUR along with it, you will remember when you read these lines "Why did i not move my wealth in to bitcoin". Mark these words. I told Argentinians this a few years ago, now they are crying. This pattern can never end until all fiat is gone and the State, the banks and politicians are unable to mess with the money anymore.
State and money will go their separate ways, like State and religion did (supposedly).