The Changing Standard of Value
I visited cryptocribs.com recently, and I noticed something.
The nightly rate for this room is listed in bitcoin, not dollars. And suddenly I realized, that this is the new normal. If the standard of value changes from the dollar to the bitcoin, then it changes a whole lot of things about how we see the world.
The way it's going right now, everyone thinks the value of the bitcoin is rising. And it is to a degree, but not nearly as much as the value of the dollar is falling.
If you think about the price of an Airbnb room in bitcoin, then does the price in dollars matter?
I don't think it does.
Just like no one cares about collecting Trillion dollar notes in Zimbabwe, it doesn't matter if a bitcoin is $200k if no one is using USD anymore. You're only going to care that a bottle of water is 20 satoshi.
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