Quote from: inBitweTrust on September 28, 2014, 01:09:32 AM

Quote from: jbreher on September 25, 2014, 08:37:23 PM

Quote from: franky1 on September 25, 2014, 09:17:30 AM

its just a common sense measure of true value of things people need in real life, such as bread and milk. it requires no trust, no third parties.

Nonsense. It requires plenty of trust in whomever keeps the relied-upon figures for the cost of living. Here across the pond, our financial system is under incredible stress due to the whopping lie about what constitutes the official rate of inflation. Which should be -- truth be told -- exactly the cost of living normalized to unit measure.

I like the cost of living suggestion but you are 100% correct on the complexities. In the US there are multiple ways of calculating the CPI and a lot of dishonesty. Additionally, There is no standard for determining COL and products and prices can vary.

I suggest indexing exchanges to CPA or "cost per alpaca" as that is the gold standard everyone can understand and rely upon.

you point is exactly my point.
(for continuity sake ill stick with C.o.L being 0.66btc (1.5weeks of C.o.L=1bitcoin))

again...
C.o.L is meant to be different.. thats the point that you CANNOT have one single price. ITS CALLED BARTER!!!

for instance, heres some valid statistics right now
Alaska    $310 C.o.L per week$7.75 x40=310
Arizona    $316 C.o.L per week$7.90 x40=316
Arkansas    $250 C.o.L per week$6.25 x40=250
California    $360 C.o.L per week$9.00 x40=360

those 4 states truly do have different values for cost of living because in california a loaf of bread or an average weekly rent is much more expensive than a loaf of bread/rent in arkansas

all it means is that for someones hard work of a week and a halfs labour they will get 1bitcoin.. and this is the same for every state 1 bitcoin for a week and a halfs labour. and that 1 bitcoin will buy them the same number of loaves of bread, no matter where they live. or more simple an average rent, grocery and car costs ( enough to live on for a week and a half)

yes i know that means that
Alaska    prices 1BTC as being $465
Arizona    prices 1BTC as being $468
Arkansas    prices 1BTC as being $375
California    prices 1BTC as being $540

lets go back to ignoring C.O.L right now. (ill come back to it..) but lets draw a line in the col for just one moment

and use the current system of a single fixed dollar valuation no matter what state you live in, by every state ignoring cost of living and just saying that bitcoin(for continuity of posts) was $450, then for someone to buy bitcoin with their FIAT wage:
in california 1 person only needs to work 50 hours to buy 1 bitcoin
but...
in arkansas 1 person needs to work 72 hours to buy 1 bitcoin

do you think that is fair..??
thats right, in actual fact right now. in real life reality. someone in arkansas on mimnimum wage has to work 72 hours to get the same thing someone in california on minimum wage only has to work 50 hours to get.!! - think about that for just a minute

or would you prefer a system where EVERYONE no matter where they lived would all need to work just 60 hours to buy 1 bitcoin. and know no matter where they lived that 1 bitcoin WILL get them a week and a half's worth of living expenses if they sold out.
yes i know that means that
Alaska    prices 1BTC as being $465
Arizona    prices 1BTC as being $468
Arkansas    prices 1BTC as being $375
California    prices 1BTC as being $540

some will think that california is getting $165 more than arkansas.. but wake up.. it costs more to live in california so the actual financial benefit of spending bitcoin/fiat would be the same. both states will both get to buy an equal amount of bread, milk, baked beans, rent etc...

as for trust of value. you DO NOT need to rely on consensus of a fixed fiat price for the whole world, you do not need to rely on a central government department of statistics.. everyone knows what a fair wage looks like in their area, and they can all work out a fair price for bitcoin for their area.

every person thats not a teenager has a rough idea that 1 hours labour is equal to x loaves of bread, milk , cans of baked beans. and they can using local bitcoins find someone nearby that has a similar idea, and you both barter for a fair price and thatwill be easy to do as you both know that your area is at a certain level of C.o.L fiat value, because its common sense..

now ask yourself
would you really want to work for a company that screws people over by giving every employee $300 a week knowing that california and alaska is getting paid below minimum wage whilst the guy in arkensas is getting paid 20% above minimum wage.. or would you prefer a world where everyone working 40 hours gets an amount suitable for their area to cover their costs of living for a week. a week of work is a week of living.