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Title: How will we value goods once fiat is secondary to bitcoin? Post by: Twitchy on November 06, 2013, 09:23:10 PM Excuse me for having little knowledge of economics, but currently we base the price of a good on it's fiat value.
In the scenario where BTC becomes the primary currency, how do we value goods then? Title: Re: How will we value goods once fiat is secondary to bitcoin? Post by: theonewhowaskazu on November 06, 2013, 09:25:41 PM Excuse me for having little knowledge of economics, but currently we base the price of a good on it's fiat value. In the scenario where BTC becomes the primary currency, how do we value goods then? The same exact way we do now, only with Bitcoin as a denominator rather than USD. Title: Re: How will we value goods once fiat is secondary to bitcoin? Post by: Crindon on November 06, 2013, 09:40:54 PM Excuse me for having little knowledge of economics, but currently we base the price of a good on it's fiat value. In the scenario where BTC becomes the primary currency, how do we value goods then? 1 large pepperoni pizza = 1 Satoshi Title: Re: How will we value goods once fiat is secondary to bitcoin? Post by: BitchicksHusband on November 06, 2013, 11:12:33 PM Excuse me for having little knowledge of economics, but currently we base the price of a good on it's fiat value. In the scenario where BTC becomes the primary currency, how do we value goods then? 1 large pepperoni pizza = 1 Satoshi I heard that one dude once paid 10,000,000 Satoshis for a pizza! Is that true, grandpa? Title: Re: How will we value goods once fiat is secondary to bitcoin? Post by: Pente on November 08, 2013, 02:44:38 AM Excuse me for having little knowledge of economics, but currently we base the price of a good on it's fiat value. In the scenario where BTC becomes the primary currency, how do we value goods then? 1 large pepperoni pizza = 1 Satoshi I heard that one dude once paid 10,000,000 Satoshis for a pizza! Is that true, grandpa? No my grandson, it was much much worse...he paid a trillion satoshis! Title: Re: How will we value goods once fiat is secondary to bitcoin? Post by: revans on November 08, 2013, 03:19:36 AM Excuse me for having little knowledge of economics, but currently we base the price of a good on it's fiat value. In the scenario where BTC becomes the primary currency, how do we value goods then? Only someone truly high on BitCrack could venture such an idiotic query. Title: Re: How will we value goods once fiat is secondary to bitcoin? Post by: theonewhowaskazu on November 08, 2013, 04:25:35 AM Excuse me for having little knowledge of economics, but currently we base the price of a good on it's fiat value. In the scenario where BTC becomes the primary currency, how do we value goods then? 1 large pepperoni pizza = 1 Satoshi *Stares at a bitcoin wallet containing 1 Bicoin* Thats a looooot of pizza... |