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ok so #bitcoin-ers: if you are evaluating the value of it with FRNs (Federal Reserve Notes i.e. Dollars) is that an accurate assessment of value?

shouldn’t you rather assess its value with brown eggs, lumbar, or grass-fed beefsteaks?

i mean, if you use “broken money” to value your crypt-o (dead) money is it really valuable?

“A crypt is a structure that is often placed inside a cemetery, meant to provide a final resting place for remains that have either been placed in a casket or cremated remains that are in an urn.”

#asknostr

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Catesby 1y ago

It’s too early to think in satoshis because of BTC-USD volatility and the fact that we all pay our bills and buy groceries in our country’s local FRNs, and you’re right to see fault in this, but the BTC-USD ratio says something about both currencies, and a rising bitcoin price could actually just be a dropping dollar price. One day the price of bitcoin will stabilize, and at that event horizon things will start being priced in satoshis, but the BTC-USD ratio will still exist, it’s just that people will think about it oppositely then, and just look at how many dollars a bitcoin gets you, watching that number go up and down, while goods with basically stable market prices will be priced in satoshis, and that number will stay stable under your cereal box at the grocery store.

chancellor 1y ago

That's a lot of words bro, my question was looking for an estimate measured in units of time, not an explanation.

Catesby 1y ago

You just doxxed your alt account. Also, we’re guessing about the future here. Nobody knows for sure

chancellor 1y ago

What are you talking about alt account? What exactly did I dox? You dropped a reply to someone else in my note.

Catesby 1y ago

Oh my bad. Still trying to figure out nostr. You said “my” question but all I saw was stargirl’s question. I see yours now. My mistake. To answer your question we will start pricing everything in sats on Saturday, March 11 2027

Catesby 1y ago

I made the same mistake you made here in Damus, and have made it a few times now. I see what happened now and I always want to foster peace, so I’ll explain: my original comment was actually in reply to stargirl’s question (I hadn’t even seen your question yet when I was answering her), but because of how damus displays the threads, I keep mixing up people’s responses. So when you snarked at me about being too wordy with my answer, I was like wtf is this? I think you saw the thread and replied to me as if my response to stargirl was actually to you, which it wasn’t. So we both read it wrong. Merry Christmas and thank you for the lesson. I’ll be more careful about who is responding to whom, and I’ll try other clients that maybe make it easier for my Reddit brain to see what’s happening. Apologies anon!