I've seen a couple popular posts/comments implying it is ironic or contradictory to measure Bitcoin's value in fiat. I wanted to broadcast some thoughts in response:
The fiat price of Bitcoin is merely a proxy to quantify Bitcoin's value. Fiat, for all its flaws, is currently the universal language of money, it's a convenient, granular, familiar and easy to understand unit of account - the measuring stick for economic value. Imagine trying to gauge Bitcoin’s value in, say, barrels of oil or ounces of gold. Sure, it sounds cool and apocalyptic, but it’s not exactly convenient for day-to-day comprehension.
Now, for the real mind-bender: measuring Bitcoin's value in a depreciating fiat might actually highlight Bitcoin’s strength. If Bitcoin's price in fiat skyrockets faster than fiat’s own inflation or depreciation, isn't that a neon sign flashing Bitcoin’s increasing value? It implies the same stack of Bitcoin can now be exchanged for greater goods and services. What's not to celebrate about that?
In a world where fiat is the ruler, Bitcoin is the revolution measuring its conquests in the current language of the people. So, the next time you see someone celebrating Bitcoin's rising value in fiat, remember, it's not a contradiction. It's a testament to its unstoppable rise.
[link] [comments]
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments