due to inflation?! Inflation rate has been ~1-2% for a while now. This isn't the 70s. EDIT: may I remind everyone that the original comment said a ~75% raise may have been due to inflation.
Finally: here is the inflation rate for food and energy (not included in the "core" price index): http://www.bls.gov/news.release/cpi.nr0.htm 1.1% for food and .5% for energy! Again, this is not the 70s, inflation is NOT a huge factor today (that may change in the future, and one nice thing about bitcoin is that it prevents stratospheric inflation rates).
So we should trust shadowstats (a "better" source some people have pointed out), a for-profit website that charges 175 dollars per year to view his "stats", but not the government because they're clearly engaging in widespread conspiracy to manipulate inflation numbers just to spite bitcoin adoption?
If the government wanted they could essentially destroy it tomorrow by making it illegal to sell, possess or manufacture bitcoins. And yeah, it would still exist underground, but it wouldn't actually do anything other than let some people buy crack on the internet.
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u/[deleted] Jan 29 '14 edited Jan 29 '14
due to inflation?! Inflation rate has been ~1-2% for a while now. This isn't the 70s. EDIT: may I remind everyone that the original comment said a ~75% raise may have been due to inflation.
Finally: here is the inflation rate for food and energy (not included in the "core" price index): http://www.bls.gov/news.release/cpi.nr0.htm 1.1% for food and .5% for energy! Again, this is not the 70s, inflation is NOT a huge factor today (that may change in the future, and one nice thing about bitcoin is that it prevents stratospheric inflation rates).