They used Bitcoin as a unit of account to compare. hbeR38PWdx- Joe Burnett ()Ві JвЂњNo matter how they put it. Other Twitter users said that for the Fed to even recognize Bitcoin as a unit of account as being a net positive sign for the king crypto.Д®ven the Fed is starting to price consumer goods in BTC. Only problem was they forgot to zoom out /rJVbedAs2z- Nick Neuman (, ) June 6, 2022ДЄ Twitter user going by the name pointed out the obvious by stating that the USD is continuously depreciating over time and Bitcoin is volatile short term, though appreciating, so вЂњstack yolks accordingly.вЂќ The Fed wrote a post showing the price of eggs in USD and Bitcoin, comparing them over the last year, showing Bitcoin as more volatile and unpredictable. The blog post ultimately drew ire from the crypto community on Twitter, with many arguing that the Fed was вЂњcherry-pickingвЂќ the time period to push the narrative of BitcoinвЂ™s instability, rather than вЂњzooming out,вЂќ which would instead show the massive devaluation of the U.S. Hopefully, if you were making this purchase with Bitcoin, youвЂ™d put many many more eggs in your basket,вЂќ it wrote. вЂњPlus, youвЂ™d need to add a Bitcoin transaction fee, which has been about $2 lately, but which can spike above $50 on occasion. It also drew attention to BitcoinвЂ™s transaction fees, which it says can fall between $2 and $50. 'What would the graph look like if we purchased that same carton of eggs with bitcoins instead of U.S. The report did not stipulate whether the price of eggs had increased or the dollar had devalued, or both, as causes for the trend.

It then follows this up with a graph showing how Bitcoin has behaved in the same time period, noting that the price fluctuatedВ вЂњmuch more than it did for the U.S. dollars for every month since January 2021, noting that the prices fluctuated between $1.47 and $2.52 over the 14-month period. The post initially features a graph showing the historical price of eggs in U.S. Check out the post to see which prices are more stable /qpFH4nењ“3S- St. The FRED Blog compares egg prices in U.S. On Monday, the Fed research arm posted a blog post titled вЂњBuying eggs with bitcoins - A look at currency-related price volatility.вЂќ Louis Federal Reserve stirred up a mix of amusement and curiosity from the crypto community on Tuesday, May 7, after publishing a post showing how the cost of eggs in Bitcoin ( BTC) has fluctuated over the last 14-months compared to the U.S.

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