Dollars And Euros Removed How We Determine The Value Of Bitcoin?

[Slark]

We need to understand that Dollars, Euros or any other type of currency is just filler - the only thing that matters is purchasing power.
Without FIAT we would have something else which will determine the way we trade, buy goods and cover the cost of our living.
Bitcoin would be then compared to that 'unit of trade' (whether it would be gold or silver ounces, or some other natural commodities) and nothing will really change.

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[Wendigo]

Have you seen this website:

https://www.numbeo.com/cost-of-living/country_result.jsp?country=United+States&displayCurrency=BTC

Numbeo is the world’s largest database of user contributed data about cities and countries worldwide. Numbeo provides current and timely information on world living conditions including cost of living, housing indicators, health care, traffic, crime and pollution.

It shows the cost of living in different countries around the world and there is also an option to show relative prices in Bitcoin. If you are traveling abroad and trying to live on Bitcoin only this might come in handy 

[ged00u]

Right now we determine the value of bitcoin by dollars, euros and other currencies, but if we remove all the currencies and use only Bitcoin how we can know what is the value of Bitcoin?
Do we need to use MBTC then?

I guess that will not happen because the BTC is not real currency, while the dollar and the euro currency real and have a legal

What? "Bitcoin is not real"? Bitcoin is digitalized currency, and that doesn't mean that bitcoin is just something made from human's imagination. And if we eliminated dollars and other fiat coins, then people would have to start valuing things based on bitcoin and there would be like "How much bitcoin is a T-shirt?" Like in the old days, "How many pieces of gold for a house?" and now, "How much dollars for a piece of gold?"

[Kprawn]

How did the early islanders determine the value of goods? They said... listen chap, gimme 3 shells for 5 eggs.... the same will be applicable to

Bitcoin. I will give you 200 Satoshi's for 5 eggs .... How does that sound? We do not need fiat currencies, if all commerce are done in Bitcoin. The

people will decide it's value, like they did in the early days. 

[bamboylee]

Bible people measure their wealth with camels and sheep. If they want to buy something, they'll ask the seller how many sheep  for whatever product they are buying.  That same principle applies. The amount of bitcoin to purchase a certain product will be set by competition of the competing sellers and the amount the buyer is willing to give.

[KennyR]

If dollar and euros were removed bitcoin will be valued directly. Already bitcoin is divided from small denomination, so people starts using it based on that. In reality at any instance USD or euros won't be removed.

[Wind_FURY]

How did the early islanders determine the value of goods? They said... listen chap, gimme 3 shells for 5 eggs.... the same will be applicable to

Bitcoin. I will give you 200 Satoshi's for 5 eggs .... How does that sound? We do not need fiat currencies, if all commerce are done in Bitcoin. The

people will decide it's value, like they did in the early days. 

Why are you trying to post in break line? Are you trying to hide something?

Anyway yes it can be done that way. In the past the conquistadors did trade with the islanders they came across with. They took advantage of them by trading their small trinkets for more valuable items like gold and spices. Thanks to the internet no one can take advantage of us anymore by trying to scam us and try steal our Bitcoins.

Wait a minute. That felt wrong.

[carlisle1]

Right now we determine the value of bitcoin by dollars, euros and other currencies, but if we remove all the currencies and use only Bitcoin how we can know what is the value of Bitcoin?
Do we need to use MBTC then?

These currencies are primarily used internation for the price of products in market so like what the other people are saying it never going to happen but if so, we still have pound which might be used as price indicator of bitcoin .