Shouldn't all crypto be backed by bitcoin ?
How could a "Bitcoin Standard" emerge?
A Bitcoin standard similar to that of gold where other assets are fresh exchangeable to a determined amount of gold? This is possible, but wouldn't work with altcoins being backed by Bitcoin. Altcoins are not standards of exchange and barely used in daily exchanges.
Also, Bitcoin is highly volatile backing a currency to a fixed amount of it would require constant adjustments.
For example, if you could pay for food service etc everywhere with bitcoin, would that be enough to essentially drive bitcoin as a backing standard ?
If you could theoretically use Bitcoin everywhere, of what benefit would using it to back other currencies be?
Gold had limitations in mobility, Bitcoin can easily be carried around and used.