Replying to Avatar Henry

On a macro level, the value of products and services, measured in bitcoin, will come about through a calibration over time via a combination of price discovery and efficient markets. Goods are worth what people will pay for them, and whilst initially there will be a potentially large spread, eventually market consensus will be found and the margins will narrow.
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Zaelus 1y ago

This makes sense and I appreciate your succint answer.

I think the source of my confusion was consuming too much media where the implication seemed to be that fiat would just stop/die out, we'd then stop valuing BTC in fiat, and then we'd switch over to this new perfect system. Rather, what I needed to realize was that future value will be derived from our current system and there will be a lot of calibration over time as you mentioned. Up until now I have never heard any of the Youtubers, etc. I've been watching directly address this.

Of course my question seems stupid in hindsight, but I guess the fact that it does seem stupid now is a good indicator of exactly why I needed to ask it.

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Henry 1y ago

I don’t think there is such a thing a stupid question if it’s asked in earnest. The pursuit of knowledge requires an enquiring mind.

So it seems like you have now levelled up. Excellent!