Thread - Nostr Hypermedia

Any tips on how to measure the world in bitcoin vs NGU dollar metric? How can I for example look at a carton of milk and say that’s 100 sats, when the only way (currently) is to find the price of the milk in dollars and do the conversion? People give the example of a house getting cheaper in sats, but they’re only figuring that out by looking at the house’s current dollar value and then at bitcoins’ and saying that’s x sats now. Seems like the only way to “see” any of this is by doing the conversion of dollars (or euros) etc.

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Replies (2)

satoshi jr 10 months ago

Yeah I do the conversion too I think the insight is to see the bitcoin as the measuring stick that doesn't change Fundamentally its all relative and prices are just ratios of how much of 1 good is in terms of another like a car is 1/10th of a house. The dollar is just a easier way to do that calculation Bitcoin is being able to do that calcution without the distortions from money printing I think its most useful and or obvious for pricing things across time. That ratio of car to home in 20 years in USD terms might be 1/20because houses capture more of the monetary premium. Essentially distorting the price of the house from its utility value In bitcoin if the ratio changes you know its from changes in the supply demand dynamics of houses vs cars If that makes sense

BoomTown 10 months ago

It’s measured in productive time. How many years labor? Or oz gold? Or certain type of house. But ultimately it is a measure of productivity stored in bitcoin. (GDP + historical capital asset value) / 21M bitcoin