Let’s say on/off ramps suddenly disappeared. Centralized exchanges are gone. And the only option to acquire btc is through trade and services, and there is no way to set a dollar value to btc. How would the the community decide on value?
Would we have to put a value on something, let’s say 1 dozen eggs, then adjust the price from there for other things and services?
I guess by the same market forces as always: supply and demand.
I mean, something would be as value as someone is willing to pay for it.
It’ll be a back and forth process of price discovery.
That’s really the issue. I would argue that the majority of people stack BTC in hopes of making a profit. Not because they expect fiat to fail. On the contrary, they are waiting to liquidate at a profit. Without exchanges that isn’t possible.
This is pretty cool, thank you 🙏
But the price it btc is still based on dollar value.
“The homepage shows prices in bitcoin or sats rather than US dollars. The price of an asset in dollars is divided by the price of bitcoin in dollars.”
All the site is doing is converting usd value.
It’s a step in the right direction. Wouldn’t take much to nudge it into its final form.
