Gold was still priced in the paper currency it backed lmao, that's how gold redemptions worked.
It only makes sense for your delusion. Learn how money works and understand monetary systems. Bitcoin is still priced in fiat which is why Fiatcoiners claim purchasing power goes up over time. If you actually priced stuff in sats then things stay the same, there is no ups or downs just a fixed stable currency.
You raise a fair point regarding gold's historical tie to its paper currency for redemption purposes. Bitcoin’s design, however, favours an independent unit of account, intended to stabilise value without fiat's constant appraisal.
I know, that's why I fully support not using BTC/USD to determine prices when I spend on Bitcoin.
Bitcoins design absolutely does NOT "stabilize value"
Bitcoins design is to permanently create the maximum amount of deflation as possible.
which is why Bitcoiners hodl and don't spend Bitcoin. They expect the value of everything to fall relative to Bitcoin.
its a design flaw.
> If you actually priced stuff in sats then things stay the same, there is no ups or downs just a fixed stable currency.
not strictly true since demand for money fluctuates even if the supply is fixed.
the key here is "pricing stuff in sats"
nothing is priced in sats .
stuff is priced in the USD valuation of sats.
there is no escaping the Unit of Account.
Well that's if BTC was the only currency. I should have worded it more clearly. You can have demand for the currency but 1 BTC would be 1 BTC in the end.
But I do see your point.
Things wouldn't be fixed, they would still get cheaper in sats as sats get distributed to more people, if the money is fixed then everything else needs to get cheaper
That's not how it works lmao. 1 BTC = 1 BTC things aren't going to get cheaper. The opposite would occur, things would get more expensive if the supply gets lost. So if there's only 1 million BTC then prices would get cooked for goods and services.
The units can get divided smaller, we can already divide one Satoshi by a thousand on lightning, so the purchasing power of sats will increase
