Replying to Avatar TheBitcoinManual

I like to keep track of the performance of various fiat currencies just to remind myself of the end game, people look at places like #Turkey, #Lebanon, #Argentina, #Nigeria and think man they are just so undeveloped and have poor government, monetary and fiscal policy

I would argue that these countries are just ahead of the curve in what it takes to manage a fiat currency, it all goes to 1 million in the end.

For me once your country hits a 1 cent sat parity like a #Ukraine, using #Bitcoin as your unit of account is a nobrainer. Next to join the club are the

- Czech Koruna

- South African Rand

- Namibian dollar

- Mexican Peso

- Botswana Pula
Avatar
Hurvajs Rumcajs 2y ago

1 BTC = ~1 million Czech Koruna rn, or 100 sats = 1 Czech Koruna

It's kinda neet ngl. Next stop 10sats = 1 koruna.

Reply to this note

Please Login to reply.

Discussion

Avatar
TheBitcoinManual 2y ago

I'm almost there too, we had a taste of it in the last bull run, 100 sats to a 1 South African Rand, its on its way there just a few more percentage points, then to me you have no need for the previous unit of account, Satoshis is the easier way to measure value.

I do hope that nations with fiat already at cent sat parity do take note and move over but I doubt many will, people want to go down with the ship

Avatar
Hurvajs Rumcajs 2y ago

Well, this is just arbitrary so no one will really change their views on money just because it's easy to convert rates. When nocoiners see bitcoin at 1 mil in their currency, they just go 🙄🤪 and carry on. Most of them anyways.