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Author Topic: bitcoin priced in real goods  (Read 1426 times)
noob2001
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August 28, 2014, 10:58:02 AM
 #1

When will we stop pricing bitcoin in dollars, and start pricing bitcoin in real goods, ie loaves of bread or big macs?
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Kluge
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August 28, 2014, 11:13:00 AM
 #2

Huh bread and Big Macs are priced in dollars and Euros. Nobody's going to give up a competitive edge trying to maintain their own market-disagreed-with valuation, especially when they're buying their supply of bread and big macs in $.

In a small circle, I'm known for pricing bitcoins in McDoubles, though. Cheesy
miohtama
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August 28, 2014, 11:13:14 AM
 #3

Short answer: When it makes any sense.

Long answer: When Bitcoin price is stable enough so that consumers can understand and cope with its value long term. E.g. 5-10 years time range. It doesn't work if you need to recheck value every day.
alwinlinzee
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August 28, 2014, 12:34:47 PM
 #4

That time i believe is nearby, when almost every goods and services will be exchanged in Bitcoin regardless of the present trend of BTC in the market.I'm very optimistic about this issue following the popularity BTC is getting worldwide.

Datcracktho
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August 28, 2014, 12:39:19 PM
 #5

Yeah it sucks that we depend on FIAT to put value to BTC :s
cinder
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August 28, 2014, 12:48:40 PM
 #6

When will we stop pricing bitcoin in dollars, and start pricing bitcoin in real goods, ie loaves of bread or big macs?

Bitcoin has not solve the volatility issue yet. Unless this happen, the merchant will not price goods in btc.

Datcracktho
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August 28, 2014, 01:02:30 PM
 #7

But we will not see steady price until 2050 or so  Huh
efreeti
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August 28, 2014, 02:56:23 PM
 #8

But we will not see steady price until 2050 or so  Huh

I seriously doubt bitcoin can survive that long being a speculative instrument alone.

Something need to happen to solve price stability issue or someone will come up with a coin that pegged on something else if not dollar.

oceans
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August 28, 2014, 03:02:24 PM
 #9

It's going to take some time before we can price bitcoin away from fiat, quite a few years maybe even, but once we are able to see that the price is steady and are able to move away from fiat for value of bitcoins we may then be able to price in BTC which will be a lot better.
MightyBTC
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August 28, 2014, 07:08:31 PM
 #10

When will we stop pricing bitcoin in dollars, and start pricing bitcoin in real goods, ie loaves of bread or big macs?
This is never gonna happen,Bitcoin exists due to fiats.Bitcoin actually was never a currency nor it will be ever
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August 28, 2014, 09:21:33 PM
 #11

There's no reason to price bitcoins in BigMacs but it sounds funny, anyway just divide $500 by 4$ and you are done Smiley

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botany
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August 29, 2014, 07:12:11 AM
 #12

When will we stop pricing bitcoin in dollars, and start pricing bitcoin in real goods, ie loaves of bread or big macs?

When are we going to price real goods in bitcoin? That should be the question.  Grin
yunkie
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August 29, 2014, 11:57:50 AM
 #13

How do you put a price per BTC without fiat equivalence tho¿?
wasserman99
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August 29, 2014, 06:23:12 PM
 #14

When will we stop pricing bitcoin in dollars, and start pricing bitcoin in real goods, ie loaves of bread or big macs?
You will never see anything priced in terms of one specific good. As mentioned above, both of these items are priced in terms of their own local currency so if you did price bitcoin in terms of a loaf of bread, you might as well be pricing it in terms of dollars.

What could potentially happen is to have some kind of index that measures bitcoin's purchasing power (in a similar way that the CPI measures the dollars purchasing power).

botany
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August 30, 2014, 01:24:59 PM
 #15

When will we stop pricing bitcoin in dollars, and start pricing bitcoin in real goods, ie loaves of bread or big macs?
You will never see anything priced in terms of one specific good. As mentioned above, both of these items are priced in terms of their own local currency so if you did price bitcoin in terms of a loaf of bread, you might as well be pricing it in terms of dollars.

What could potentially happen is to have some kind of index that measures bitcoin's purchasing power (in a similar way that the CPI measures the dollars purchasing power).

Yes, but that would again be country specific. We would need something universal.....
Ayers
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August 30, 2014, 03:28:43 PM
Last edit: August 30, 2014, 07:06:41 PM by Ayers
 #16

when big merchats will accept it, and bitcoin will hit mainstream phase

How do you put a price per BTC without fiat equivalence tho¿?

bitcoin need to outclass other currencies, fiat also, for that to happen
giveBTCpls
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August 30, 2014, 06:40:31 PM
 #17

Price is set via supply and demand, it's not like price is some arbitrary thing out of context. Everything is connected.

Hasher99
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August 30, 2014, 06:56:44 PM
 #18

When will we stop pricing bitcoin in dollars, and start pricing bitcoin in real goods, ie loaves of bread or big macs?
Never is it will happen.Bitcoin of course exist due to its value in fiats,otherwise it would just disappear.No matter how much you argue reality couldn't be mended.
itsAj
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August 30, 2014, 07:36:48 PM
 #19

When will we stop pricing bitcoin in dollars, and start pricing bitcoin in real goods, ie loaves of bread or big macs?
You will never see anything priced in terms of one specific good. As mentioned above, both of these items are priced in terms of their own local currency so if you did price bitcoin in terms of a loaf of bread, you might as well be pricing it in terms of dollars.

What could potentially happen is to have some kind of index that measures bitcoin's purchasing power (in a similar way that the CPI measures the dollars purchasing power).

Yes, but that would again be country specific. We would need something universal.....
Goods will always cost different prices in different countries as demand for goods are different from country to country and as a result goods are produced more/less in countries that specific goods have more/less demand. Also labor costs will be different which will have an effect on locally produced goods.

TL;DR the cost of the same good is going to cost different amounts in different places even if the same currency is used. 
BTCevo
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August 30, 2014, 07:41:11 PM
 #20

It does suck very much so at the moment, today I could buy 1 bitcoin and it will be able to purchase 100 loaves of bread but tomorrow that same bitcoin may only be worth 60 loaves of bread, thats why when I want to buy something with bitcoin I buy the bitcoin at most an hour or 2 before making my purchase!

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