I respectfully disagree, sir - it will only be undervalued until it is the global unit of account, which I genuinely believe will be within my lifetime.
Discussion
after this happens, do you believe that bitcoin will stop appreciating against the consumer basket?
No, I don’t think Bitcoin will ever stop appreciating against consumer goods. Bitcoin is scarce; potential for production is not.
(I know this is purely semantic, but…) I prefer to think of it as the consumer basket becoming cheaper in Bitcoin terms: endless deflation as a result of technological innovation leading to increasing prosperity, à la #[5]
semantics then