"this is the last time we'll ever see bitcoin below 10k"
How many times have we heard that? On the other hand, What we really are seeing is the U.S. dollar going below 10,000 satoshis.
When the Fed doubled the supply of dollars, I expected the value of each dollar to go down significantly. When most people were awarded Hive backed Dollars as part of the fork, I also expected the dollars to fall like this. Last year at about this time of year, BTC was 10k Canadian dollars.
https://www.steemfiles.com/ticker
In thought experiments, the prices of everything doubles in price, and so we just end up with the same spending and economics but with the numbers doubled after doubling the money supply, but in reality there is a delay from when the doubling happens of the money supply and the corresponding pricing goes up for everything.
I have an Austrian economics mindset, but I see no benefit on using the minority definition for inflation, so I wont. It takes time for the money supply creation to take effect. It's effect over the longer term is inflation, but how long is the 'longer term'?