Post
Topic
Board Bitcoin Discussion
Re: Bitcoin can you stand alone?
by
franky1
on 06/12/2016, 01:30:39 UTC
Can you stop pricing yourself in fiat?

I would say it is with almost 100% certainty that you cannot.

I'm wondering just how long you will use the fiat banking system as your crutch.


imagine bitcoin priced against not fiat.. but "cost of living index" (yes its a real metric, go research it)
EG
no matter where in the world you are, you can say i want enough bitcoin that values at around 10 loaves of bread.
no need for someone in africa to need to convert m-pesa to a dollar value and then look up the bitcoin price.

they just use the "cost of living index" and automatically know what bitcoin equates to by knowing the average price of bread or other produce in their native country. thus removing the dollar as the metric