Topic: Bitcoin on the Big Mac Index (Read 1850 times)

It's really great to see how much Bitcoin has changed over the last 13 years. In 2010, people were still uncertain about the future of Bitcoin. Bitcoin's price during most of 2010 remained below 1 USD. Right now we are looking at 57k USD. In 2010, people tried to find a way to make Bitcoin useful. Now, we are discussing about how BlackRock's bitcoin ETF will manipulate the market. Time flew and we grew older along with Bitcoin. In terms of return, Bitcoin outpaced every single asset classes in the world. That's a win!

Perfect illustration of how Bitcoin purchasing power increases over a sustained period & fiat is being massacred by inflation. At this point, with what we know about Bitcoin if is incompetence to not have some kind of exposure in a balanced portfolio.

Brilliant PR I think.
And it works out OK, even nowadays people talk about it.
Giving away 10 000 from 10 000 000 is not that much anyway.

While there are parallels with Laszlo's Pizza Purchase from around 15 years ago, the main reason as to the main reason why OP's pushing for the big mac index is to further push the idea that bitcoin is for the people. If that even makes sense. When you get into the big mac index, it would automatically mean that the currency you're using is either socially-accepted as a full-fledged currency to be used for daily purchases, or at the very least, a legal tender that could be used as regular money for purchases.

There is massive implications and benefits to this as getting bitcoin or any cryptocurrency for that matter further solidifies the notion that cryptocurrency, is just money glorified and given new features. Which many people believe it not to be all because it's not tangible or whatever. By allowing people to realize that while they can earn money through bitcoin and crypto, they could also use it just as their regular crumpled dollars or pesos, it would allow for a heightened chance at getting bitcoin to be accepted by the public which has been one of the biggest barriers towards global adoption for so long.

My only reservations about this plan is honestly the fact that there's a lot of discussion to be had about the territorial and governmental aspect of currency, and since bitcoin's decentralized there's going to be a lot of discrepancies surrounding that.

How funny it was to read this post 13 years later
Reminds me of the story about buying a pizza for 10,000 BTC, now worth $515 million.

In an effort to measure the purchasing power of bitcoin, I suggest bitcoin community members make an effort to exchange bitcoins for big macs on at least a monthly basis.  We will then have early data when The Economist invites bitcoin to join their "Big Mac Index".  http://en.wikipedia.org/wiki/Big_Mac_Index