Now if we all want to make Bitcoin the standard. Right now sure you can use Bitcoin to buy goods and services with. However all goods and services value and price are based by some sort of Fiat.
How do we go about to determine Good and Services value entirely on Bitcoin?
over FIAT
this could take a very long time to make happen.
What methods do you think this could happen?
What if we just compare the prices of goods and services in the form of fiat money, after that we make them in the form of Bitcoin.
For example, the price of a shoe is worth $200 and then we change $200 into Bitcoin (suppose we buy Bitcoin with $200 worth of money when the price of 1 BTC is $39,409 then we get 0.005 Bitcoin) So we bought the shoe for 0.005 BTC.