So if we didn't have fiat, everything would be free? You said fiat is the only reason they have value.
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This is a βSo you hate waffles?β strawman reply dude. Nowhere in my post did I say that or anything close.
I said their current value is derived from fiat, and at this moment in time it has to be linked back to that valuation because thereβs been no alternative standard determined by society. Once society understands what WE understand (the value of Bitcoin) then things can be priced and compared appropriately because it will reach UoA status.
That's where you're wrong. People don't derive the value of their eggs by using paper with numbers on it. People derive the value of eggs by determining they want to eat them and what they can give in exchange for that want. Value is subjective. Value is not derived from fiat.
not "value" methinks, its "price"
value is in the eye of the beholder.
price is the local representation of the value as rendered in a unit of account.