Topic: Should we get rid of the Fiat Standard? (Read 681 times)
Who's "we"? You? Us as in bitcointalkers?
Right now we peg currencies to the price of bitcoin (to determine value).
What if we only dealt with something like gold (1 oz gold per BTC)
Or would be it be better to peg the btc to one specific fiat (like euro or something).
What if we only dealt with something like gold (1 oz gold per BTC)
Or would be it be better to peg the btc to one specific fiat (like euro or something).
lol this makes a lot of sense....
so you're saying if we say 1 bitcoin = 600 usd, we shouldn't then say, oh well it's it worth 600 usd, then it's worth 440 euros. how can you possibly "peg" it to only 1?
No. Also, peg doesn't mean what you think it means.
Legendary answer.
No. Also, peg doesn't mean what you think it means.
Let me rewrite the post, but I will leave the original post below.
I made this post to see you guys opinion on something. I was thinking how the price of bitcoin is equal to a certain amt of Fiat currency.
Would it be better if we were on a gold standard or something of this nature. We would not artificially rise due to inflation of a currency etc.
Forget the pegging to a certain currency I mentioned (the comments seem to bash me for it).
sorry if confusing, and let me know your thoughts. thanks
Right now we peg currencies to the price of bitcoin (to determine value).
What if we only dealt with something like gold (1 oz gold per BTC)
Or would be it be better to peg the btc to one specific fiat (like euro or something).
edit: With inflation being an issue with Fiat and pushing the price up (naturally).
If we had something like gold (or something) then the price would just be pushed up (due to exponential users etc)
thoughts appreciated.
I made this post to see you guys opinion on something. I was thinking how the price of bitcoin is equal to a certain amt of Fiat currency.
Would it be better if we were on a gold standard or something of this nature. We would not artificially rise due to inflation of a currency etc.
Forget the pegging to a certain currency I mentioned (the comments seem to bash me for it).
sorry if confusing, and let me know your thoughts. thanks
What if we only dealt with something like gold (1 oz gold per BTC)
Or would be it be better to peg the btc to one specific fiat (like euro or something).
edit: With inflation being an issue with Fiat and pushing the price up (naturally).
If we had something like gold (or something) then the price would just be pushed up (due to exponential users etc)
thoughts appreciated.
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