Post
Topic
Board Economics
Re: Pricing in Dollar - Pricing in Bitcoin
by
magneto
on 05/03/2021, 22:38:47 UTC
I'm pretty sure we all (or the majority) price Bitcoin in Dollars regardless of which
country we are in, I stand to be corrected on this though.

We are all certain that the Dollar and other FIAT are going to crash in the near future
or after we get to grips with this pandemic and financial aid ends. When this happens
we wont be pricing Bitcoin in Dollars.

What will we be using, Chinese Yuan?

or will we be pricing everything in Bitcoin?

In the foreseeable future, the USD is still going to be the dominant global reserve currency and the default unit of account for financial assets.

But the CNY is going to be posing a real formidable threat. With the launch of the digital CNY, this process has accelerated. I suggest that you take a glance at Ray Dalio's piece on the CNY potentially becoming a global reserve currency - he essentially predicted that it would be a matter of time.

BTC will and is already a unit of account for a particular niche of people, but until the fiat system implodes ultimately, this is not going to occur on a widespread scale.