Bitcoin BTC is not a hedge against inflation.

The whole cryptocurrency market is going down together with Bitcoin. Bitcoin was supposed to be a hedge against inflation. Yet, when the time to perform came and went, BTC didn't serve as such but instead started following the stock market and all the Ponzi schemes that the Federal Reserve and their money printing enabled, which is more booms and busts.

Fed fears a $100 billion crypto price crash. Isn't that proof enough that the mainstream has realized already that the hedge against inflation narrative is just a pipe dream put up by bitcoiners trying to drive people onto a cliff.

Suppose you can't be used as a currency, and you must always use third-party custodians to exchange whatever asset into fiat dollars and change those dollars for good services. In that case, you are not doing anything new; in reality, you are enabling more of the same system you are trying to prevent or pretend to try to get away from but are closer than ever before.

As the White Paper describes, Bitcoin was supposed to be a peer-to-peer electronic cash system first. Most, and everything else, would be added to it because the first utility is doing fine, and not just because a few influencers and social media censors decided to implement a narrative with empty words and no actual substance.

Every time you exchange Bitcoin or any cryptocurrency for fiat instead of trading it directly with another peer for goods and services, you are enabling the Federal Reserve not just to print money and create inflation. You also allow them to make you poorer because of their monetary policies. And declaring bitcoin as legal currency while your users must use a government custodian doesn't make it better. That is the case in El Salvador.

Bitcoin Cash BCH and its community are still trying to enable the idea that Satoshi Nakamoto had by implementing transactions on-chain without the need for custodians and without the state's power to make BCH a legal currency. Instead, convince peers your peers to use it as a peer-to-peer currency. The community knows that once you become the best currency, you will eventually become the best store of value and the unit of account, all without using government violence.

I wonder if the following news will be that the Federal Reserve will bail out the crypto market as long as users are willing to send their funds to a Federal Reserve wallet. Bow to never use any other cryptocurrency or, even better, to only use a central bank digital currency (CBDC). I wonder if, in the future, the Fed will say that since crypto is an essential part of the economy, they know they are willing to bail out the industry by providing liquidity in the form of a CBDC.

Next, crypto was new; Fed bailed out the crypto market with their new digital dollar.

Conclusion.

I noticed that the CPI is reporting an 8% plus inflation rate, and at the current time, we should be enjoying BTC as the ultimate hedge. Still, the fiat price is following the stock market instead of doing its own thing, and that is because people are not using Bitcoin as a peer-to-peer currency. Still, just another vehicle or asset to speculate on instead of using it as it was meant to be used. As a peer-to-peer currency, that version of Bitcoin, which can be a hedge, is in the form of Bitcoin Cash because we don't care about price but utility. Everything else comes after the peer-to-peer idea.