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Topic: Dollars And Euros Removed How We Determine The Value Of Bitcoin? - page 2. (Read 1585 times)

legendary
Activity: 1134
Merit: 1010
BTC to the moon is inevitable...
Right now we determine the value of bitcoin by dollars, euros and other currencies, but if we remove all the currencies and use only Bitcoin how we can know what is the value of Bitcoin?
Do we need to use MBTC then?

let me ask you a question and if you can answer that question then you can answer your own question too.

if Dollars and Euros are removed how will you determine the value of groceries that you need to buy?
hero member
Activity: 2912
Merit: 541
Leading Crypto Sports Betting & Casino Platform
Right now we determine the value of bitcoin by dollars, euros and other currencies, but if we remove all the currencies and use only Bitcoin how we can know what is the value of Bitcoin?
Do we need to use MBTC then?

i don't know how we can determine the value of bitcoin if fiat is not exist, but maybe we can use another thing like gold, silver or other commodity to compared with bitcoin. i think we can be like a primitive civilization that using exchange to make a deal from buyer and seller and maybe we can barter with gold to bitcoin.
legendary
Activity: 2898
Merit: 1823
Right now we determine the value of bitcoin by dollars, euros and other currencies, but if we remove all the currencies and use only Bitcoin how we can know what is the value of Bitcoin?
Do we need to use MBTC then?

I asked the same question quite a while ago and I did not get a satisfying answer. Although one person said that if there was no fiat money as a determinant, we as a humans tend to attach the value of something to a commodity. If there was no fiat money, there is gold. If there is no gold and precious metals, there is the value of livestock or grains. It never stops.
hero member
Activity: 770
Merit: 500
Bazinga!
Right now we determine the value of bitcoin by dollars, euros and other currencies, but if we remove all the currencies and use only Bitcoin how we can know what is the value of Bitcoin?
Do we need to use MBTC then?

they are never going to be removed because they are fiat and millions of people are using them and will continue using them.

but if it is removed we are back to stone ages and we would have to measure the value based on other objects. like how many animal skin does 1 bitcoin buy Cheesy
sr. member
Activity: 938
Merit: 256
Right now we determine the value of bitcoin by dollars, euros and other currencies, but if we remove all the currencies and use only Bitcoin how we can know what is the value of Bitcoin?
Do we need to use MBTC then?


I guess that will not happen because the BTC is not real currency, while the dollar and the euro currency real and have a legal
sr. member
Activity: 336
Merit: 250
Right now we determine the value of bitcoin by dollars, euros and other currencies, but if we remove all the currencies and use only Bitcoin how we can know what is the value of Bitcoin?
Do we need to use MBTC then?

Well if the dollars and euros doesn't exist its really hard to tell the value of bitcoin but if that really happens then the goods in the will be priced as bitcoin like they will find a way to price it with bitcoin people tend to blind with something new if no other choice we need the MBTC on bitcoin to determine the value of bitcoin so that we can know how we earned and how much we payed for something that we needed.. thats only my opinion Cheesy
full member
Activity: 155
Merit: 100
In the absence of dollars or euros we would ask questions like...How many ounces of gold can a bitcoin purchase. How many bitcoin does the average house cost, How many pints of beer, etc.

As bitcoin develops more and more people will come to think of bitcoin's purchasing power in terms of real goods.
USA
newbie
Activity: 14
Merit: 0
Right now we determine the value of bitcoin by dollars, euros and other currencies, but if we remove all the currencies and use only Bitcoin how we can know what is the value of Bitcoin?
Do we need to use MBTC then?
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