Post
Topic
Board Bitcoin Discussion
Re: Bitcoin as a "Global Unit of Account"?
by
Artemis3
on 22/12/2021, 14:35:16 UTC
I get what you’re trying, but I can’t really imagine the world with just one asset being used. Bitcoin has a fixed supply and it might get to a point where that might become another problem for people around the world, unless maybe when it gets to that time they will look for a way to fix it, maybe by increasing the amount of supply? This topic has been discussed several times in this forum.

I am of the opinion that all can stay, and people should be completely free to choose for themselves at every moment what they want to make use of. And same way, stores can decide whether to display their product prices in BTC or in USD, or whatever currency.

A dev once told me once they could just increase the decimals from 8 to 16, so a new naming unit would probably be needed, unless you want to deal with "old satoshis" and "new satoshis".

Lightning already added 4 more but that is "off chain".

So if the single satoshi becomes way to expensive, an easy fix can be implemented.

As for your opinion, unfortunately the State can get in the way. Some people would want to, but the State is forbidding them from freely accepting payments and pay with bitcoin. But with time, as the old politicians retire, the younger generation who is far more open to bitcoin, will ensure the necessary changes are in place so this can be done.

The final goal is to be able to pay and be paid with bitcoin. no exchanges, no banks, no middlemen.