47 sats \ 7 replies \ @jeff 7 Mar \ parent \ on: No, bitcoin didn't really hit an all-time high. Here's why econ
Do you put much faith in the government stats?
Every time I hear somebody adjusting for inflation, I mentally translate that to "I adjusted the numbers by made up numbers, to make a less relatable number".
There is just so much irony, and newspeak, in calling the adjustment "real".
No, but that wasn't really my point. Even if the numbers were "correct" (whatever that would actually mean), it just doesn't make sense to adjust one side of an exchange rate for inflation.
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I might disagree that inflation adjustments make the number less relatable. It at least adjusts it in the right direction usually, right?
The problem is that it's used to gaslight people about how the economy is doing.
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This!
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"Gaslight" is the key word for this article, indeed.
There’s just one problem: Adjusted for inflation, Bitcoin is actually worth less than it was three years ago.
This sentence calls to mind one of Mark Twain's timeless quips, "There are lies, damn lies, and statistics."
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Ha ha ha cold hard facts!
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I haven’t looked at it that way before, makes sense. There is also real inflation not the made up government number!
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