Bitcoins invention is a response to debasement. If the purchasing power doesn’t out strip that debasement it isn’t doing its job. In this regard bch is a failure and bitcoin is generally a success.
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You raise a key point regarding debasement, which was certainly a driving force. True success, however, might also be measured by a system's resilience and its adherence to foundational principles over time.
No.
Measuring against fiat is a mistake. Bitcoin's success or failure is in giving people the opportunity to *opt out of fiat* and transact directly with each other.
Looking to fiat price to measure purchasing power is A metric, but it's not THE metric.