I'm curious why they should get a pass. They're a first-class part of the ecosystem, and pretending exchanges don't exist to goose the numbers feels dishonest. Further, it's the exchanges that set the "price" of bitcoin relative to fiat, which in turn sets the exchange rate for BTC to goods in on-chain transactions. Unless you're suggesting there's an "exchange" price for goods and a "black market" price for goods that each value Bitcoin differently?
Because as per your linked article 95% of it is fake. Supply of fiat money is also „fake“ in a sense that it’s arbitrary controlled by one entity per country at most.
Do you not think there's a meaningful difference between privately-run exchanges fraudulently manipulating the price to enrich themselves (to clear short or long positions off their books, pump the value of their assets, etc) -- and central banks who operate on behalf of the people of their respective countries to ensure a stable and reliable money supply?
I think in the long run there’s none. Look at devaluations in various countries. Or cut of paper money circulation in India. Or the $8Trln “printed” by the US to balance out Chinese foreign reserves (also $8Trln at the time by coincidence)
It appears you need to do some research on the role of central banks and the federal reserve, goals of the money supply, etc. That's not accurate, that's not how it works. The reason we create more money is two-fold.
(1) There are more people now. Not creating money disproportionately benefits the people who were alive before you. If you print no new money, the amount of wealth you have doubles as a proportion of the population when the population doubles. As economic activity increases and becomes more efficient you can do even more with that money. This pressure creates wealth inequality over time -- this is in part what the pilgrims sought to escape as they fled the old world of kings/queens/fiefs/lords.
(2) A predictable rate of inflation incentivizes the allocation of capital to productive endeavors. If your money just became more valuable over time, why on earth would you risk it by investing in something when you can just sit back, chill and be rich? That's why Bitcoin is a god-awful currency. Nobody wants to spend it because they think it will "mewn soon."
The federal reserve doesn't print money, the treasury does. They didn't create money to offset Chinese loans, they sold treasuries (debt obligations) to China, which in turn yielded money. You know what, I won't do as good a job as this article will explaining it to you [1], entitled "Understanding How the Federal Reserve Creates Money."
That all said none of this matters to you, a savvy investor with assets, because you shouldn't hold money. It's not intended to be held, it's meant to be circulated. Go buy things with it, that's what it's for. It can't depreciate in your hands if you've bought something with it. Salaries track inflation, housing tracks inflation, debts don't, so your principal goes down in real-world dollars over time. If you live paycheck-to-paycheck you're totally unaffected.
I'm starting to think the solution to Bitcoin is forcing everyone to attend civics and economics classes.
