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wasserman99
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August 31, 2014, 05:27:05 AM
 #21

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.....
This is not possible. Even the cost of a big mac or a loaf of bread (as the OP wants bitcoin to be priced in) varies from country to country.

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August 31, 2014, 08:12:54 AM
 #22

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

I was a bit confused by the question since a Big Mac index is used to measure the purchasing power of a similar product relative to different countries around the world not factoring in logistics etc.
Same with bread some places are closer than others.

So Bitcoin will be measured in any convertible currency, unless I missed the point of this question lol.

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