Fiat used to be priced in gold before fiat became bigger then gold, it does make sense, it does make sense, I'm literally having to respond to multiple threads, it's getting ridiculous, you guys need to keep it manageable
Discussion
we can stick to this thread.
when Bitcoin crosses over and becomes UoA your "fiat is priced in Bitcoin" will make sense.
like your gold example .
right now its just aspirational (delusional)
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.
> 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
Monero has half of golds inflation only ever to go down from here, trending against 0 without ever reaching it. It's a trade off Bitcoin OGs that created Monero were willing to make to have a security budget guarantee at the absence of an established fee market. As they knew Bitcoin already covered the finite supply niche they could choose different trade-offs and sacrificed the number one selling point.
Not because they are (dis)inflation lovers. No, because they argumented that it would create a more stable long term outcome.