Topic: Defiatize the unit of value - page 3. (Read 3129 times)
Fine, 1 BTC=15 barrels of crude oil.
The dollar supremacy is extremely solid and wordwide. How do you pretend things stop being compared to the mighty dollar? be realistic. Want to defeat the empire? Cool, tell us your cunning plan tho.
What benefit will leaving fiat give users? The case for abandoning fiat isn't a compelling one, even though people on the internet will be amazed to hear that.
I agree with you in theory, but people don't know the value of an item even in this purely bitcoin economy because it's not a stable store of value, so they have to consult in terms of USD still to see if the value of btc is falling or rising relative to fiat currency. Because btc is not a stable store of value, I don't see "defiatizing" the unit of value as possible.
Judging from most of the threads here, it seems that most of the people are still using fiat currency to measure the value of other things, just like ancient people regarding earth as the center of universe, they think domestic fiat currency is the unit of value
For example, a people living in US will not value other things using Japanese Yen. Yen has lost 50% value against USD since 2012, means everything's price in Yen has risen at least 50% in 2 years, but no one cares in US, since they do not use Yen as a unit of value. Same for Japanese people, they don't care USD could buy more things, since they only use Yen to measure value. For them, USD appreciation is not their business
Similarly, if there is a bitcoin only economy, where people exclusively use bitcoin to carry out all the transactions, they would also don't care about the exchange rate of bitcoin against other currencies. In such case, bitcoin's exchange rate will only affect those people travel a lot or do lots of trade between different countries
It will take a long time to defiatize the people's unit of value, but people's finance knowledge is improving very quickly by using internet, it will eventually come. By the way, the change will never come from the bottom, it is always the entrepreneur first discover the truth
For example, a people living in US will not value other things using Japanese Yen. Yen has lost 50% value against USD since 2012, means everything's price in Yen has risen at least 50% in 2 years, but no one cares in US, since they do not use Yen as a unit of value. Same for Japanese people, they don't care USD could buy more things, since they only use Yen to measure value. For them, USD appreciation is not their business
Similarly, if there is a bitcoin only economy, where people exclusively use bitcoin to carry out all the transactions, they would also don't care about the exchange rate of bitcoin against other currencies. In such case, bitcoin's exchange rate will only affect those people travel a lot or do lots of trade between different countries
It will take a long time to defiatize the people's unit of value, but people's finance knowledge is improving very quickly by using internet, it will eventually come. By the way, the change will never come from the bottom, it is always the entrepreneur first discover the truth
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