Quote from: eminemcookie on April 16, 2018, 07:03:10 PM

Bitcoin is very different to these currencies in that it is intended to be a global currency. You can argue one way or the other what that should mean for people's perceptions on volatility but there's definitely a difference to more traditional one country currencies. I think the key point you were trying to get at but slightly missed is that bitcoin price in FIAT is not relevant if it is to be used properly. If the £ increases 20% versus the dollar, it doesn't buy you 20% more bread in the UK and that is what most people care about. The same can be true for bitcoin if it reaches its true potential. x amount of BTC will be worth x amount of some relevant good, the price in FIAT will become obsolete.

i didnt miss the point at all
even since i started in 2012 i had the notion that measuring bitcoin to the dollar is a failure

i have said many times over the years of this forum that if bitcoin was measured as a cost of living index the volatility would not be noticable even if the FIAT valuations jumped 15-30%

Quote from: franky1 on March 12, 2018, 06:10:37 PM

so if we take away the bitcoin<->$£ valuation and instead replace it for a btc<->'COL'(cost of living index).. or to put it simply 1btc=10,000 loaves of bread..

Quote from: franky1 on October 03, 2014, 06:59:51 PM

imagine a common measure that can be used in all countries.
now here is the idea
imagine cost of living was a measure of minimum wage of whatever counntry yo were in multiplied by 40.
this would give you an estimate of your native cost of living.
now imagine that for instance instead of a dollar reference, we simply had buy and sell orders based against that measure.
thus right now bitcoin is about 1.5 'col'

my notion is forget fiat pricing.
if we measured things against cost of living where say right now no matter where in the world you lived 1btc was worth
8000 loaves of bread or 1100 hours of minimum wage

th markets would all act differently

it can change the world of economics and people will start to see that its FIAT that volatile
you would start to see people arbitrage the FIAT to get better deals of bitcoin.. rather than arbitrage bitcoin to get better deals in fiat
thus by switching the direction of arbitrage between the different FIATS to get bitcoin.. the end result would be that everyone could earn the same thing and buy th sam thing around the world.

i even remember mentioning the disparity between states of america.. where today 1btc is worth 1100 minimum wage hours in on state.. while right now in another state 1btc is worth ~550 minimum wage hours..
think about it.. if you lived in a state that offered $7.50 working in mcdonalds.. you would need to work 1100 hours to get 1 btc.. meanwhile in another state where minimum wage was $15.. you only need to work ~550 hours
same country, same fiat, same job, same company.. but having to work double the hours.. FIAT is the failure.. not btc

the obsession with fiat profits is the problem

but while we remain dislusioned to measure
bitcoin -> $$ -> bread
instead of
bitcoin -> bread

we are not changing ecomony or even helping bitcoin be a 'uaable' means of paying for goods