Good question to ponder.
Indexing the value of BTC with fiat is clumsy, albeit the easiest thing to do at the moment.
Slowly, but suddenly we won't anymore...
Can you come up with some ideas how we might determine tangible world value per sat? I can think of a few.
I was trying to visualize this in my mind.
For example, would a software subscription that has infinite quantity, stay the same or even decrease year on year or when the next halving happens?
When it comes to finite quantity items, such as rice, wheat or potatoes, since price has to be local and not global, what variables would be taken into consideration and by whom? In other words, someone has to determine and broadcast a base price for that region.
Yes! nostr:npub1s05p3ha7en49dv8429tkk07nnfa9pcwczkf5x5qrdraqshxdje9sq6eyhe conceptualized this with his book the Price of Tomorrow. Main premise is that in a technological age, the prices of technology in a free or natural market all fall to what he calls "the marginal costs of production". And Bitcoin fits this. So prices would fall across time.
But setting a ever changing price of # of Sats for goods and services will likely be set by a cost of electricity IMO. Which loops back to Proof of Work.
I've heard some people iterate on this...
