Saying that bitcoin has a stable algorithmically defined inflation rate is a hilarious redefinition of terms. Over the last year, one Bitcoin lost approximately 40% of its purchasing power relative to a basket of consumer goods and services. The year before, the opposite happened with bitcoin increasing in purchasing power by a factor of 5-10x.
,,A historical look at the origin and uses of the word inflation, arguing that although the term has become nearly synonymous with "price increase," its original meaning - a rise in the general price level caused by an imbalance between the quantity of money and trade needs - is the definition driving many of those who advocate an anti-inflation policy for the Federal Reserve.''
Austrian economics still uses the original meaning of inflation (increase in monetary supply), while Keynsian economics uses the change in consumer price index, or more broadly the change in prices.
I prefer to always distinguish the two by writing monetary supply inflation and price inflation instead of just writing inflation, as this conflict between definitions always comes up.
