Quote from: pooya87 on Today at 04:44:19 PM

Quote from: kickea on April 07, 2023, 10:00:36 PM

Great answer! What kind of system could we create for a smooth transition were everything would be valued by something other then fiat which would not be affected by inflation?

You are again forgetting the difference between value and price. Things are not valued in fiat, they are priced in fiat. Value of all currencies (dollar, euro, yuan, bitcoin, yen, ...) is in their purchasing power.

Lets say bitcoin price is $28000 and you want to buy an iPhone that is $800 so you pay 0.02854BTC. If dollar tanks and loses half of its value today, you can still buy the same iPhone with 0.02854BTC tomorrow even though at that time bitcoin should technically be worth $56,000.
This is the difference between value and price in simple terms. Bitcoin value and the iPhone value remained the same so you paid the same amount of bitcoin for its purchase despite the price of both bitcoin and iPhone going up against dollar.

To answer your question, we don't need any system for transition. Bitcoin is a stand alone currency that does not rely on fiat currency of one country. The market may be affected because it is still a small market and market participants are known for their emotional reactions but that's about it.

So what you are basically saying is that if the dollar loses half of its value today, you can buy the Iphone for 0.02854BTC, then you could sell it again for 1600$. And buy 0.05708BTC for that money you earned from the Iphone sale. And keep on doing this until the price of bitcoin catches up. But if I understand you correctly you are saying that as long as goods and services are priced in bitcoin, there wont be a problem with buying and selling in bitcoin, which is really a given - but how do we get to this point? And more interesting if that iphone is priced in bitcoin and it is also priced in dollar, euro, yuan etc. how will this affect eachother?

Like now the norwegian krone is worth much less compared to euro and dollar, which means that it is cheaper for europe and america to buy salmon from norway today then it was a few months ago.