Post
Topic
Board Economics
Re: Btc vs dollars
by
DVlog
on 27/11/2023, 14:20:16 UTC
Presently, should we say it's good the way bitcoin its been tied to dollars? Dollars is not backed up with any resources but to my understanding, bitcoin is a product of great energy surge. We shouldn't let bitcoin tied to dollars but bitcoin standing on its own. What could decide the durability and value of bitcoin? I have some ideas..

Who told you bitcoin was tied to dollars? You think that because there are so many currency pairs with USD as a stablecoin? That is strange to know that some people think that way. So people who trade BTC/EUR pairs and live in the EU will say bitcoin is tied to the euro!

What is your idea for deciding the durability and value of bitcoin?

Do you know how we determine the wages of our employees? I am not sure about other countries but in my country it has been measured by the price of rice because rice is the primary food consumed by the local people. So a day laborer gets his salary based on the price of rice and i think this is a common method all around the world. So let's say you can buy 1 kilo of rice for 0.0001BTC then it can be the daily salary of a worker if we want to determine the value in BTC. We are so attached to the fiat value system that it sound wired to think of any other ways to determine the value.