I understand the rationale around targeting inflation and seeking to actively avoid deflation. That being said, I wish the inflation target was less than 1%.

Eventually, possibly within my lifetime, a Big Mac meal is going to cost $50.

That's why it's not safe to hold fiat money, it's by design. Governments don't want people to hold it, they want them to cycle it, spending it, investing it, and lending it out.

The existence of harder forms of money (gold, bitcoin, etc) is an expected consequence of how the system is designed, and not in any way a subversion of it. Somehow, both sides seem to miss this point.

> You don’t want your actual currency to gain value just by waiting.

Relative to what? Talk of BTC gaining value is primarily wrt USD; I'd be perfectly happy with my actual currency (GBP) gaining value wrt USD.

I suppose BTC can only 'deflate' in the long-run (and with an assumed supply of goods and services available in exchange for it) since the mintable volume is fixed. But perhaps it exposes that talking of currencies inflating is a bit sloppy, as it doesn't really make sense for BTC, and it's the economy or banking system that inflates really..

It kinda is too bad because every inflation miss compounds, permanently. The 6 and 7% annual rates the US experienced a few years back are permanently embedded in price levels - it's not like the Fed adjusted its target down for a few years to counteract past years of high inflation, nor is it even evident that current policies are working, given that inflation hasnt actually been at 2% since 2018 (excluding 2020) and inflation is rising again in 2026. Obviously the late 70's were worse, statistically, but the Fed took enormous steps while the current Fed seems far more hesitant to ignore the government and Wall St.

>You don’t want your actual currency to gain value just by waiting

You might not, I do.

Tell you what: you go short btc/usd, I'll go long btc/usd, and let's circle back in 10 years and see who did better.