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Honest question, why is that not a good answer?

I can see you're part of the pithy hype quote squad.

Infinity divided by 21 million. So you think all of existence falls under the reign of Bitcoin, huh? So if there's 21 million universes, 1 BTC = 1 universe?

I'm trying to get some actual level-headed and serious discussion on what I wrote. I'm not a fucking troll. I've identified a gap in the discussion around Bitcoin and I wanted to try to see peoples thoughts on it. You reply with this bullshit because you somehow took offense to what I wrote. This is why you need to reevalute what your long term goal is for Bitcoin.

I'm not talking about a place that we're even close to getting to yet, I'm sure this would be decades, if not more. But eventually if Bitcoin does what it is meant to do, it will not be represented by fiat currency, can we at least agree on that?

I'm asking if anyone has considered how we will value it at that point. Maybe it would be in terms of units of energy?

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Discussion

Zach⚡️ 1y ago

Bitcoin the the supreme measurement of value which all other things will be measured against. Bitcoin itself is the units of energy you are describing.

I do think all of our existence will be measured in terms of Bitcoin. Whether that extends past earth is not relevant. Infinity represents the total wealth that is possible. In practice it is finite, but it can and will grow forever which is why it is represented this way. 21 million is the ruler.

You might think I'm just repeating quotes and shilling Bitcoin, but the actual idea is one I believe and it has a lot of depth and meaning yo it. If you don't get it or disagree, that's your right.

Zaelus 1y ago

I think you are misguided in assuming all other things will be measured against BTC. That's purely impossible and completely discounts all of history. We aren't primitive people who just started bartering and realized we needed a currency. We are transitioning gradually from an extremely complex, corrupt, mismanaged system with hundreds upon hundreds of years of precedent.

So as some of the other people replying have already helped me realize: we will be using our current system as a jumping off point for valuation of BTC as we transition toward a different future.

Zach⚡️ 1y ago

You can value anything in anything. You can value cars in bananas if you'd like, and I'm sure some people will try that for as long as we have freedom. But money is a network good and its not useful or practical to value things in a worse money that less people use. Bitcoin is the best money and once most people use it, it will be the standard for value.

And then once everyone else sees how much their other shit is losing value against Bitcoin, we will have a true Bitcoin standard.

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

"standard" is the key word in this, it means that everyone uses it

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

metric standard, ISO standard...

Zaelus 1y ago

I agree with what you wrote here much more. Once the current system degrades enough, we'll have the transition moment.

Jeff Swann 1y ago

All things will eventually be measured against bitcoin & dollars at the same time, with dollar valuations of bitcoin helping now & as we continue on the path to this future. But then the dollar valuation will eventually matter less & less, & the bitcoin price of things will eventually be all that matters.

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

prices are a ratio

you assume that they are based on some divinely imposed standard like the tablets of Moses

bitcoin is like physical gold, you can't just make it appear from nowhere

the value of bitcoin is what you can trade it for, just as the price of something is what you can charge for it

setting that "value" is done by all of us in relation to our needs for different things and the resources we have to trtade for them

Joseph A. Nagy, Jr. 1y ago

Prices aren't a ratio. They're a reflection of what the seller will let an item go for and what a buyer will pay to purchase the item. They have very little to do with the cost of production (while those costs must be taken into account, it's only a small part of the price).

Zach⚡️ 1y ago

4 pears are worth 1 dollar (4:1)

6 dollars are worth 2 sodas (6:2)

All prices are ratios like this. This ratio exists due to market dynamics between sellers and buyers (like you said) and can change over time. The cost of production is usually a factor but like you said, it isn't everything.

You both likely agree and are just looking at things from different perspectives.

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

that's the fun of ratios! they have two sides!

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

he's wrong, also, prices are always ratios

not just misunderstanding economics but basic mathematics too, all measures are ratios of something to something else

there is some contention in the world of science about the metric system relating to this, and funny little artifacts in a museum in paris

ᴛʜᴇ ᴅᴇᴀᴛʜ ᴏꜰ ᴍʟᴇᴋᴜ 1y ago

the fun part has to do with how they devised teh metre, as that's the "divinely given" base, it's from the distance from pole to pole of the earth, divided by 10,000 - theoretically...

Joseph A. Nagy, Jr. 1y ago

Fair, I misspoke about prices not being ratios. However, I'm not otherwise wrong. The cost of production is not as important as what the consumer is willing to part with to acquire something.