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.
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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.
the value isn't derived from fiat, this is a wrong statement.
it's priced in fiat, but it's value does not come from it's relation to another currency.
what you're saying is that bitcoin needs to replace the dollar standard of exchange, which in time it will.
The problem is USDT, the digital dollar which still seeks to price every thing in dollars.
If you want to start this process, then simply change your medium of exchange from fiat to btc. Price everything in BTC or sats and work from there, and voila, you've achieved the 'standard'. Now get more merchants and plebs to use it and voila, we have a 'global standard'
Be prepared for war thought
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.