Bitcoin Forum
April 27, 2024, 03:18:25 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Bitcoin on the Big Mac Index  (Read 1831 times)
mpkomara (OP)
Full Member
***
Offline Offline

Activity: 183
Merit: 100



View Profile
November 04, 2010, 10:48:16 AM
 #1

In an effort to measure the purchasing power of bitcoin, I suggest bitcoin community members make an effort to exchange bitcoins for big macs on at least a monthly basis.  We will then have early data when The Economist invites bitcoin to join their "Big Mac Index".  http://en.wikipedia.org/wiki/Big_Mac_Index



"There should not be any signed int. If you've found a signed int somewhere, please tell me (within the next 25 years please) and I'll change it to unsigned int." -- Satoshi
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
raziplab92
Newbie
*
Offline Offline

Activity: 44
Merit: 0


View Profile
February 20, 2024, 07:28:09 PM
 #2

How funny it was to read this post 13 years later Grin
Reminds me of the story about buying a pizza for 10,000 BTC, now worth $515 million.
Casdinyard
Hero Member
*****
Offline Offline

Activity: 2044
Merit: 876


Leading Crypto Sports Betting and Casino Platform


View Profile
February 26, 2024, 10:31:00 AM
 #3

How funny it was to read this post 13 years later Grin
Reminds me of the story about buying a pizza for 10,000 BTC, now worth $515 million.
While there are parallels with Laszlo's Pizza Purchase from around 15 years ago, the main reason as to the main reason why OP's pushing for the big mac index is to further push the idea that bitcoin is for the people. If that even makes sense. When you get into the big mac index, it would automatically mean that the currency you're using is either socially-accepted as a full-fledged currency to be used for daily purchases, or at the very least, a legal tender that could be used as regular money for purchases.

There is massive implications and benefits to this as getting bitcoin or any cryptocurrency for that matter further solidifies the notion that cryptocurrency, is just money glorified and given new features. Which many people believe it not to be all because it's not tangible or whatever. By allowing people to realize that while they can earn money through bitcoin and crypto, they could also use it just as their regular crumpled dollars or pesos, it would allow for a heightened chance at getting bitcoin to be accepted by the public which has been one of the biggest barriers towards global adoption for so long.

My only reservations about this plan is honestly the fact that there's a lot of discussion to be had about the territorial and governmental aspect of currency, and since bitcoin's decentralized there's going to be a lot of discrepancies surrounding that.

..Stake.com..   ▄████████████████████████████████████▄
   ██ ▄▄▄▄▄▄▄▄▄▄            ▄▄▄▄▄▄▄▄▄▄ ██  ▄████▄
   ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██  ██████
   ██ ██████████ ██      ██ ██████████ ██   ▀██▀
   ██ ██      ██ ██████  ██ ██      ██ ██    ██
   ██ ██████  ██ █████  ███ ██████  ██ ████▄ ██
   ██ █████  ███ ████  ████ █████  ███ ████████
   ██ ████  ████ ██████████ ████  ████ ████▀
   ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██
   ██            ▀▀▀▀▀▀▀▀▀▀            ██ 
   ▀█████████▀ ▄████████████▄ ▀█████████▀
  ▄▄▄▄▄▄▄▄▄▄▄▄███  ██  ██  ███▄▄▄▄▄▄▄▄▄▄▄▄
 ██████████████████████████████████████████
▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄
█  ▄▀▄             █▀▀█▀▄▄
█  █▀█             █  ▐  ▐▌
█       ▄██▄       █  ▌  █
█     ▄██████▄     █  ▌ ▐▌
█    ██████████    █ ▐  █
█   ▐██████████▌   █ ▐ ▐▌
█    ▀▀██████▀▀    █ ▌ █
█     ▄▄▄██▄▄▄     █ ▌▐▌
█                  █▐ █
█                  █▐▐▌
█                  █▐█
▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█
▄▄█████████▄▄
▄██▀▀▀▀█████▀▀▀▀██▄
▄█▀       ▐█▌       ▀█▄
██         ▐█▌         ██
████▄     ▄█████▄     ▄████
████████▄███████████▄████████
███▀    █████████████    ▀███
██       ███████████       ██
▀█▄       █████████       ▄█▀
▀█▄    ▄██▀▀▀▀▀▀▀██▄  ▄▄▄█▀
▀███████         ███████▀
▀█████▄       ▄█████▀
▀▀▀███▄▄▄███▀▀▀
..PLAY NOW..
WillyAp
Member
**
Offline Offline

Activity: 672
Merit: 16

Looking for guilt best look first into a mirror


View Profile WWW
February 27, 2024, 01:36:12 PM
Last edit: February 28, 2024, 01:51:18 PM by WillyAp
 #4

While there are parallels with Laszlo's Pizza Purchase from around 15 years ago, the main reason as to the main reason why OP's pushing for the big mac index is to further push the idea that bitcoin is for the people.

Brilliant PR I think.
And it works out OK, even nowadays people talk about it.
Giving away 10 000 from 10 000 000 is not that much anyway.

Marketing in EN und DE
DeathAngel
Legendary
*
Offline Offline

Activity: 3094
Merit: 1596


#1 VIP Crypto Casino


View Profile
February 27, 2024, 03:13:33 PM
 #5

Perfect illustration of how Bitcoin purchasing power increases over a sustained period & fiat is being massacred by inflation. At this point, with what we know about Bitcoin if is incompetence to not have some kind of exposure in a balanced portfolio.

.
.BITCASINO.. 
.
#1 VIP CRYPTO CASINO

▄██████████████▄
█▄████████████▄▀▄▄▄
█████████████████▄▄▄
█████▄▄▄▄▄▄██████████████▄
███████████████████████████████
████▀█████████████▄▄██████████
██████▀██████████████████████
████████████████▀██████▌████
███████████████▀▀▄█▄▀▀█████▀
███████████████████▀▀█████▀
 ▀▀▀▀▀▀▀██████████████
          ▀▀▀████████
                ▀▀▀███

.
......PLAY......
avikz
Legendary
*
Offline Offline

Activity: 3066
Merit: 1498



View Profile
February 28, 2024, 04:53:14 AM
 #6

In an effort to measure the purchasing power of bitcoin, I suggest bitcoin community members make an effort to exchange bitcoins for big macs on at least a monthly basis.  We will then have early data when The Economist invites bitcoin to join their "Big Mac Index".  http://en.wikipedia.org/wiki/Big_Mac_Index


It's really great to see how much Bitcoin has changed over the last 13 years. In 2010, people were still uncertain about the future of Bitcoin. Bitcoin's price during most of 2010 remained below 1 USD. Right now we are looking at 57k USD. In 2010, people tried to find a way to make Bitcoin useful. Now, we are discussing about how BlackRock's bitcoin ETF will manipulate the market. Time flew and we grew older along with Bitcoin. In terms of return, Bitcoin outpaced every single asset classes in the world. That's a win!

Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!